Browsing: Economy
Nichols: Banks Prepared for Interest Rate Uncertainty
Despite economic headwinds and uncertainties around the Federal Reserve’s next move on interest rates, the banking sector remains strong and healthy, American Bankers Association President and CEO Rob Nichols said today in an interview with Bloomberg TV.
SEC Urges Market Participants to Prepare for Libor Transition
The Securities and Exchange Commission late Friday issued a statement warning of the potential consequences for financial markets if the London Interbank Offered Rate, or Libor, is discontinued.
Powell: Trade Uncertainties, Slowing Global Growth Putting Pressure on U.S. Economy
Testifying before the House Financial Services Committee today, Federal Reserve Chairman Jerome Powell said he and his colleagues “don’t expect a severe downturn” in the near future, but warned that a “cross-current” of trade uncertainties and slowing global growth could require a more accommodative monetary policy stance.
Credit Card Delinquencies Fall, Other Delinquencies Hold Steady
Delinquencies for credit cards provided by banks fell significantly in the first quarter of 2019, while the composite index of closed-end loans remained unchanged, according to the American Bankers Association’s Consumer Credit Delinquency Bulletin released today.
Fed Survey: Consumers’ Spending Expectations Fall
Americans’ expectations for how much more they will spend in the next year was 3.3% in June, down from 3.5% in May, according to the Federal Reserve Bank of New York’s monthly Survey of Consumer Expectations released today.
Factory Orders Decreased in May
New orders for manufactured goods increased 0.7 percent to $493.6 billion in May, according to…
FSB: GSIBs Meeting Loss Absorbing Capacity Requirements
Progress by the largest banks in implementing the total loss-absorbing capacity standard has been “steady and significant,” according to a review published this week by the Basel, Switzerland-based Financial Stability Board.
Bonus Podcast: A Record-Setting Expansion, but Growing Downside Risk
Comerica Bank Chief Economist Robert Dye joins the ABA Banking Journal Podcast for a brief conversation on the economic outlook for the remainder of 2019 and beyond.