Modest net percentages of banks tightened terms and standards for business loans in the previous quarter, with standards for the most part remaining unchanged, according to the Federal Reserve’s latest senior loan officer opinion survey released today.
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With the London Interbank Offered Rate — which underpins more than $350 trillion in mortgages, commercial loans, bonds and derivatives worldwide, including $200 trillion in U.S. dollar-denominated financial instruments — not guaranteed to be sustained after 2021, what should banks be doing now to prepare for a transition away from the widely used benchmark?
Comptroller of the Currency Joseph Otting said today that he hopes that the current conflict between state and federal laws that inhibits banks from serving cannabis-related businesses will be resolved by 2020.
The U.S. economic outlook, while positive, is a tale of two stories, says Comerica Bank Chief Economist Robert Dye on the latest episode of the ABA Banking Journal Podcast.
The Alternative Reference Rates Committee — a group of private-sector market participants and public agencies convened by the Federal Reserve — today released two free webinars to help market participants better understand and respond to its request for feedback on draft fallback language for certain financial instruments that reference the U.S. dollar London Interbank Offer Rate.
The rapid pace of change will continue in 2019, ABA policy staff project.
In a comment letter today, ABA recommended that the Small Business Administration reconsider several elements of changes to its Express loan offerings, part of its popular 7(a) program.
Completing the Securities and Exchange Commission’s rulemaking on best interest standards for broker-dealers and investment advisers is a “key priority” for 2019, SEC Chairman Jay Clayton said in a speech today.