FDIC Makes ABA-Advocated Change to Deposit Insurance Application Manual
The FDIC today announced several changes to its Deposit Insurance Application Procedures Manual.
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ABA Seeks Exemption for Banks from EIN Application Requirements for Trusts, Estates
The American Bankers Association wrote to the Internal Revenue Service last week seeking relief from certain aspects of the new IRS’ application process for obtaining an Employer Identification Number for trusts and estates of descendants.
Bowman: Fed Weighing Expanded Transparency on Core Provider Exam Info
As part of its efforts to facilitate community bank innovation, the Federal Reserve may provide banks with information about core processors and other critical third-party vendors that the banking agencies supervise directly, Fed Governor Michelle Bowman said today at ABA’s Conference for Community Bankers in Orlando, Florida.
ABA Releases Core Provider Information, Banker Analysis
In the latest update from ABA’s banker-led Core Platforms Committee, ABA today shared information it has received from four major core processors as well as an analysis of the cores’ responses by bankers on the committee.
Consumer Credit Growth Accelerates in December
Consumer credit increased at a seasonally adjusted annual rate of 5 percent in the fourth…
Quarles Floats Technical Changes to Liquidity Regulation, Supervision
In remarks in New York last night, Federal Reserve Vice Chairman for Supervision Randal Quarles suggested that making reserves and Treasury securities more interchangeable from a liquidity regulation and supervision perspective could help improve the efficiency of the financial system and prevent sudden liquidity crunches in the markets, such as those that occurred last September.
Fed: Banks ‘Well-Positioned’ to Weather a Recession
The nation’s banks remain highly capitalized as a result of post-crisis regulatory reforms, and “are well positioned to continue lending to households in businesses even in the event of a severe global recession.”
ABA Data Bank: Consumers’ Optimism About Their Finances Reaches 30-Year High
Six in 10 Americans told Gallup they are better off financially than they were a year ago.
225,000 Jobs Added in January, Unemployment Rate Unchanged at 3.6%
Total nonfarm payroll employment grew by 225,000 in January, an increase from last month’s downwardly…
Federal Reserve Issues 2020 CCAR Scenarios
The Federal Reserve today released the two hypothetical economic and financial market scenarios that it will use in the next round of the Comprehensive Capital Analysis and Review process for the nation’s largest financial institutions.