Since the ABA Banking Journal Podcast last checked in on the Current Expected Credit Loss standard—which is coming into effect for many banks and the vast majority of bank assets on Jan. 1, 2020—there have been several key developments.
Market participants should not wait for term versions of the Secured Overnight Financing Rate to begin adopting it in contracts, Federal Reserve Bank of New York President John Williams said at an event today.
The Treasury Department’s Community Development Financial Institutions Fund today announced more than $25 million in awards to 113 banks through its Bank Enterprise Awards program, which encourages banks to increase their investments and loans in disadvantaged communities.
With the financial industry facing a future without Libor—which is currently being referenced in an estimated $200 trillion of financial contracts worldwide—American Bankers Association VP Hu Benton discussed how the industry is preparing on a recent episode of American Banker’s Bankshot podcast.
“We just never felt like we wanted to join that rhetoric of sameness,” Tim Marshall says of his marketing approach at Bank of Ann Arbor.
Fewer non-employer firms—those without full-time or part-time employees on payroll, which account for 81% of U.S. small businesses—reported profitability in 2018 than employer firms did, according to Small Business Credit Survey figures released today by the Federal Reserve Bank of New York.
The Appraisal Subcommittee of the Federal Financial Institutions Examination Council has approved a waiver request from appraisal licensing requirements for the state of North Dakota.
The second quarter saw substantially stronger demand for residential mortgage loans, according to the Federal Reserve’s latest senior loan officer opinion survey released today.
As urban areas across the country grow and change, community development financial institutions like Metro Bank in Louisville, Ky., are meeting the unique needs of these evolving neighborhoods.
By a two-to-one vote, the National Credit Union Administration board today finalized a controversial proposal to raise the threshold at which credit unions must obtain appraisals for commercial real estate transactions from $250,000 to $1 million.