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.
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.
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.
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.
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.
New orders for manufactured goods increased 0.7 percent to $493.6 billion in May, according to…
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.