Browsing: Newsbytes

Commercial Lending

As part of its ongoing work to facilitate the transition by financial market participants away from the London Interbank Offered Rate, the Alternative Reference Rates Committee today released a “starter kit” of resources on the Secured Overnight Financing Rate.

Mortgage

ABA joined the California Bankers Association and other industry groups in a letter opposing A.B. 1436, a bill introduced in the California legislature that would mandate specific outcomes for mortgage forbearance relief, require excessively prescriptive post-forbearance repayment and impose significant legal liability.

Payments

The Federal Reserve today released more details about its forthcoming FedNow service to provide real-time payments settlement and clearing, including phased elements of the FedNow service.

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