The Federal Reserve is watching growth in the leveraged loan sector with an eye to its systemic implications, Federal Reserve Vice Chairman for Supervision Randal Quarles told the Senate Banking Committee today.

The latest episode of the ABA Banking Journal Podcast features interviews with the winners of ABA's 2018 Community Commitment Awards.

The FDIC is seeking public feedback on the steps it can take to encourage FDIC-supervised banks to offer small-dollar credit products to meet the needs of consumers, the agency announced today.

After announcing during the ABA Annual Convention last month that the FDIC will create an innovation office, FDIC Chairman Jelena McWilliams last night offered additional insight into what such an office would look like when up and running.

Testifying before the House Financial Services Committee today, Federal Reserve Vice Chairman for Supervision Randal Quarles noted that “the banking sector remains in strong condition… with lending growth, fewer nonperforming loans and strong overall profitability.”

The Consumer Price Index rose 0.3 percent in October on a seasonally adjusted basis, according to U.S. Bureau of Labor Statistics. This followed a 0.1 percent September increase. Over the last 12 months, the all-items index rose 2.5 percent, up from last month’s 2.3 percent increase. Prices for all items less food and energy, the “core CPI,” grew 0.2 percent ...

With less than a week before comments are due on the OCC’s August advance notice of proposed rulemaking on the Community Reinvestment Act, ABA VP Krista Shonk follows up an earlier podcast interview with tips on how to complete a comment letter and key points ABA will be making in its own letter.

As part of the ongoing effort to replace Libor with an alternative rate, the Federal Home Loan Banks today issued $4 billion in debt tied to the Federal Reserve’s Secured Overnight Financing Rate, or SOFR, according to reports today.

Following a recent meeting with FDIC Chairman Jelena McWilliams, ABA today sent a letter to the FDIC calling on the agency to address three critical issues related to its deposit recordkeeping final rule. The 2016 rule requires banks with more than 2 million deposit accounts to upgrade deposit recordkeeping systems to facilitate determination of FDIC-insured deposits should they fail. As ...

As the financial industry continues to find new uses for artificial intelligence capabilities, Federal Reserve Governor Lael Brainard outlined regulators’ approach to the supervision of these new technologies in a speech today