New orders for manufactured durable goods increased $26.1 billion or 9.9% in July to $289.6 billion, the U.S. Census Bureau said in its most recent advance report. The increase followed a 6.9% June decrease. Excluding transportation, new orders decreased 0.2%. Excluding defense, new orders increased 10.4%. Transportation equipment drove the increase, $26.4 billion or 34.8% to $102.2 billion.
FDIC, OCC tighten policy considerations for bank merger applications
The FDIC and OCC issued new policies that expand the factors both will take into consideration when reviewing bank merger applications, with the OCC eliminating its expedited review process and the use of streamlined applications.