Newsbytes

Agencies Finalize Rule Harmonizing Swap Margin, QFC Requirements

To facilitate compliance with their rules regarding qualified financial contracts of systemically important banks, the federal banking agencies today finalized a rule clarifying that legacy swaps -- those entered into before the margin rules’ compliance dates -- do not become subject to margin requirements provided they are amended solely to comply with QFC rules.

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OCC: Mortgage Performance Unchanged Year-on-Year

The share of current and performing first-lien mortgages in the second quarter of 2018 remained largely unchanged from a year prior at 95.6 percent — compared to 95.4 percent a year ago, according to the Mortgage Metrics Report released today by the OCC. The report is generated from data from seven large national banks representing 33 percent of all outstanding residential ...

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ABA Donates $100K to NCBA Hurricane Relief Fund

ABA announced today that it will donate $100,000 dollars to a Hurricane Florence relief fund created by the North Carolina Bankers Association. ABA will also match donations made by ABA employees. The fund will assist bank employees and their families affected by the storm and the historic flooding that followed. In 2017, ABA made similar donations after hurricanes Harvey, Irma and ...

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Existing-Home Sales Unchanged in August

Existing-home sales were unchanged at a seasonally adjusted annual rate of 5.34 million in August, according to the National Association of Realtors (NAR). This followed a 0.7 percent decline in July. Sales are 1.5 percent below the August 2017 level. Lawrence Yun, NAR chief economist, says the decline in existing home sales appears to have hit a plateau with robust ...

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Housing Starts Up 9.2 percent in August

Housing starts increased to a seasonally adjusted annual rate of 1.282 million in August, according to the U.S. Department of Commerce. The figure was 9.2 percent above the July rate of 1.174 million and 9.4 percent higher than the August 2017 rate. Single-family home starts rose 1.9 percent from last month. Multifamily increased 27.3 percent since July and are up 37.1 percent ...

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