In an effort to clarify their September 2018 proposal for high-volatility commercial real estate acquisition, development or construction loans, the banking agencies have issued an additional proposal to address the treatment of loans financing the development of land for one-to-four-family residential properties.
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House Financial Services Committee Ranking Member Patrick McHenry (R-N.C.) wrote to Federal Reserve Vice Chairman for Supervision Randal Quarles this week calling on the Fed to increase its efforts to help banks transition away from the London Interbank Offered Rate to SOFR, the preferred benchmark rate of the Alternative Reference Rates Committee.
As banks prepare to make the transition away from the London Interbank Offer Rate as a benchmark interest rate, the Financial Accounting Standards Board today approved staff proposals to provide relief from onerous accounting processes that would normally be required when contracts are modified.
The Global Supply Chain Finance Forum—which includes BAFT, ABA’s global transaction banking subsidiary—today released a new guidance document on receivables discounting technique.
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With leveraged lending-related risk on regulators’ minds — and on the agenda of the House Financial Services Committee tomorrow — the ABA Banking Journal Podcast discusses the issue with ABA Senior Economist Curtis Dubay.
In the clearest terms expressed by any regulator to date, Federal Reserve Vice Chairman for Supervision Randal Quarles emphasized that banks need to begin transitioning away from the London Interbank Offered Rate as a benchmark.
The transition to alternative reference rates is in full swing. Here are four key steps to plan for life after Libor.
While corporate debt is at near-record levels and recent growth has been concentrated in riskier segments, “business debt does not appear to present notable risks to financial stability,” Federal Reserve Chairman Jerome Powell said today in Florida.
Underlying credit and liquidity risks associated with the current point in the economic cycle should be on bankers’ radar screens, the OCC advised today in its Semiannual Risk Perspective report.