With post-pandemic effects hindering many traditional CRE markets, developers are turning to multifamily housing to meet demand.
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The post-COVID economy is snapping back in a big way. Are small businesses prepared to capitalize on the recovery?
Bankers helped small businesses bridge through to the economic recovery. Now they’re looking at how to help those that may have been left behind—and support a new wave of small business formation.
Acting Comptroller of the Currency Michael Hsu today said that it is “imperative that banks continue careful planning” for the transition away from Libor to an alternate reference rate, such as the Secured Overnight Financing Rate, the Alternate Reference Rates Committee’s preferred Libor alternative.
With certain tenors of Libor set to sunset at the end of 2021, the Commodity Futures Trading Commission’s Interest Rate Benchmark Reform Subcommittee today announced that it has voted to recommend that beginning July 26, interdealer brokers replace trading of Libor linear swaps with trading of U.S. dollar linear swaps tied to the Secured Overnight Financing Rate, the Alternative Reference Rates Committee’s preferred Libor alternative.
Economics may be the so-called dismal science, but the latest forecast of ABA’s Economic Advisory Committee is anything but.
The variety of forward-looking term rates now available means that banks will have choices to offer when transitioning from Libor.
As banks prepare for the cessation of Libor—certain tenors of which are set to begin phasing out at the end of 2021—the Financial Stability Board today published an updated global transition roadmap identifying steps firms should take to ensure an orderly transition prior to the end of the year.
In a significant move today, the Alternative Reference Rates Committee—of which the American Bankers Association is a member—said it plans to recommend CME Group as the administrator for a Secured Overnight Financing Rate term rate, once market indicators outlined earlier this month are met.
With projected economic growth expected to create a positive environment for bank performance in the remainder of 2021 and 2022, according to the OCC’s newly released Semiannual Risk Perspective, newly appointed Acting Comptroller Michael Hsu today said “it’s critical that bankers and their regulators guard against complacency.”