Banks and the Economy

Large Banks Clear Fed Stress Tests

The largest U.S. banks collectively showed that they can withstand a severe economic downturn and continued to improve their capital positions, according to the results of Dodd-Frank Act-mandated stress tests the Federal Reserve released yesterday. 

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OCC: Trading Revenue Rebounds in First Quarter

Commercial banks reported total trading revenue of $8.2 billion in the first quarter of 2018, up 62.8 percent from the fourth quarter of 2017 and 15 percent from the year before, according to the OCC’s Quarterly Report on Bank Trading and Derivatives Activities today.

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Podcast: A Community Bank View from the Oil Patch

The latest episode of the ABA Banking Journal Podcast, sponsored by Velocity Solutions, takes listeners to the “busiest place in the entire country” when it comes to oil, as Jay Jenkins describes his hometown of Carlsbad, N.M. The boomtown — located in the heart of the oil-rich Delaware Basin, which is part of the broader Permian oil-producing area — has ...

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Existing-Home Sales Fell 0.4 Percent in May

Existing-home sales decreased 0.4 percent to a seasonally adjusted annual rate of 5.45 million in May, according to the National Association of Realtors (NAR). This followed a 2.5 percent decline in April. Sales are 3.0 percent below the May 2017 level. “Closings were down in a majority of the country last month and declined on an annual basis in each ...

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Housing Starts Up 5 percent in May

Housing starts increased to a seasonally adjusted annual rate of 1.350 million in May, according to the U.S. Department of Commerce. The figure was 5.0 percent above the April rate of 1.286 million and 20.3 percent higher than the May 2017 rate. Single-family home starts rose 18.3 percent from last month. Multifamily surged 11.3 percent since April and are up 27.4 percent ...

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Industrial Production Slipped 0.1 percent in May

Industrial production fell 0.1 percent in May after an upwardly revised 0.9 percent increase in April, according to the Federal Reserve. Capacity utilization nudged down to 77.9 percent in May, but remains the second highest level in three years. Manufacturing output declined 0.7 percent after remaining unchanged last month. Production of durable goods decreased 1.0 percent, while nondurable goods production ...

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