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November 12, 2019

Fannie, Freddie Transfer $102B in Credit Risk

Since the Federal Housing Finance Agency launched a credit risk transfer program for GSEs Fannie Mae and Freddie Mac in 2013, the enterprises have transferred $102 billion in credit risk to private investors, amounting to about 3.3% of $3.1 trillion in unpaid principal balance, the FHFA said today. For the first half of 2019, the GSEs transferred about $10.5 billion worth of credit risk. Transfers included debt issuances, insurance and reinsurance transactions, senior-subordinate securitizations and several kinds of lender-collateralized recourse transactions.

Community Banking

November 11, 2019

Community Bankers Flag CECL, Fintech as Top Concerns in Recent Interview

The Financial Accounting Standards Board’s current expected credit loss standard is among the top issues keeping community bank CEOs up at night, according to an American Banker article published today featuring interviews with several members of ABA’s Community Bankers Council.

Ag Banking

November 11, 2019

ABA Survey: Credit Quality Tops List of Concerns for Ag Lenders in 2019

With the farm economy in the midst of a prolonged downturn, the primary concern among ag lenders in 2019 was credit quality and the deterioration of agricultural loans, according to the latest agricultural lenders survey conducted by the American Bankers Association and Farmer Mac.

Newsbytes

November 11, 2019

New ABA Foundation Infographic Provides Tips to Protect Veterans from Scams

A new infographic from the American Bankers Association Foundation, Association of Military Banks of America and the Better Business Bureau provides tips for veterans, active duty servicemembers and their families on how to protect themselves from financial scams targeting the military.

Newsbytes

November 11, 2019

Fed Proposes 18-Month Extension for Single-Counterparty Credit Limit Final Rule

The Federal Reserve Board on Friday issued a proposal to extend the deadline for its final rule limiting the amount of credit exposure that foreign banking organizations can have to each other and to other counterparties.

Compliance and Risk

November 8, 2019

Brainard Discusses Implications of Climate Change on Financial Stability

In remarks at a Federal Reserve Bank of San Francisco event today, Fed Governor Lael Brainard discussed the potential implications that climate change could have for financial stability, and the importance of properly pricing in climate change-related risk.

Compliance and Risk

November 8, 2019

FinCEN Reissues Real Estate Geographic Targeting Orders

The Financial Crimes Enforcement Network today reissued its geographic targeting orders temporarily requiring U.S. title insurance companies in specified areas to identify the individuals behind companies used to conduct high-end, all-cash real estate transactions.

Newsbytes

November 7, 2019

ABA Calls for Interoperability as Fed Moves Ahead with ‘FedNow’ Service

As the Federal Reserve moves ahead with its plan to develop the FedNow real-time payments settlement service, the American Bankers Association noted in a comment letter today that “FedNow can contribute to a better, faster and safer payment system if implemented correctly.”

Commercial Lending

November 7, 2019

McWilliams Expresses Concern about New Loans Tied to Libor

In an interview with MarketWatch published today, FDIC Chairman Jelena McWilliams expressed concern that banks are continuing to originate loans with contracts tied to the London Interbank Offered Rate, despite the fact that the rate is not guaranteed to be available after 2021.

Wealth Management

November 7, 2019

New ABA Report Addresses Shifting Wealth Management Landscape

With an estimated $68 trillion set to change hands by 2030, a new report released by ABA today delves into how that wealth transfer will affect wealth management practices.

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