The U.S. financial agencies do not plan to recommend a credit-sensitive element to the Secured Overnight Financing Rate or a credit-sensitive rate, agency heads said in a letter to a group of regional banks yesterday.
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The ABA Foundation’s 2020 George Bailey Distinguished Service Award co-winners put the spotlight on the industry’s financial inclusion efforts.
ABA Chairman Jim Edwards takes office at an unexpectedly difficult moment—and with a uniquely suited portfolio of skills.
Outgoing ABA Chair Laurie Stewart praised the work bankers have done in the last six months distributing Paycheck Protection Program loans as the coronavirus spread.
The Basel, Switzerland-based Financial Stability Board on Friday released a “global transition road map” to help financial firms navigate potential shifts away from the London Interbank Offered Rate, which is not guaranteed to be available after 2021.
The Small Business Administration tonight released a much-anticipated, streamlined loan forgiveness application for Paycheck Protection Program loans totaling $50,000 or less.
The Small Business Administration today issued a notice explaining required procedures when an entity that has received a Paycheck Protection Program loan experiences a change in ownership.
Business conditions were most often called the single biggest challenge facing community banks, according to an annual survey released yesterday by the Conference of State Bank Supervisors.
Commercial real estate has faced substantial headwinds from stay-at-home orders and changing consumer behavior, and in many cases CRE has not received the same level of support available to consumers and small businesses.
Despite the pandemic, financial institutions should not expect a delay in the Dec. 31, 2021, date when publication of the London Interbank Offered Rate can no longer be relied upon, Federal Reserve Bank of New York General Counsel Michael Held said at an investor conference today.