FOMC Members: Coronavirus Pandemic ‘Not Directly Comparable’ with 2008 Financial Crisis
The near-term U.S. economic outlook “deteriorated sharply” and became “profoundly uncertain,” prompting the Federal Open Market Committee to drop interest...
Economy
Registration for Participation in Fed’s Commercial Paper Funding Facility Now Open
The Federal Reserve Bank of New York today opened the registration process for the new commercial paper funding facility that...
Fed to Establish Facility for Financing SBA PPP Loans
In order to facilitate loans being made through the Small Business Administration’s Paycheck Protection Program, the Federal Reserve today said...
Mnuchin, Top SBA Officials Answer Banker Questions on PPP
With banks across the country working through the weekend to make and fund loans through the Small Business Administration’s Paycheck...
ABA Data Bank: FDIC Insurance Fund at Record-High Balance
Since 2007, banks have more than doubled the balance of the FDIC insurance fund that protects deposits to a record...
Senate Clears Massive Coronavirus Stimulus to Support Economic Growth
The Senate unanimously passed a sweeping $2 trillion stimulus package to provide relief to American consumers and businesses struggling as...
Fed Expands Stimulus Measures, QE; Will Support Corporate Credit
In its most sweeping move yet to prop up the U.S. economy amid the coronavirus pandemic and public health response,...
ABA, Financial Groups Ask SEC to Exercise Authority with CECL Delay
Amid the growing economic fallout from the coronavirus pandemic and public health response, ABA and several other financial trade groups...
McWilliams Calls on FASB to Offer CECL Postponement
In light of the sudden and significant economic changes wrought by the coronavirus pandemic and public health response, FDIC Chairman...
