Author ABA Banking Journal Staff


In a May 21 letter to the National Credit Union Administration, Senate Minority Leader Chuck Schumer (D-N.Y.) asked the regulator to conduct an immediate review of its supervisory practices in the wake of “deeply troubling conduct” by credit unions involved in New York’s taxi medallion business.


BAFT, ABA’s global transaction banking subsidiary, today released an updated New York law master participation agreement, which serves as the industry standard for secondary market transactions to facilitate the buying and selling of trade finance-related assets globally.


Banks do not base decisions on how much they should hold in reserve at the Federal Reserve Banks on their desire to earn the interest paid on excess reserves, according to a Fed survey of senior financial officers released today.

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