The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the…
With Libor slated to sunset by the end of 2021, banks need to identify and mitigate their Libor transition risks. According to Fed leadership, “The firms we supervise should be aware of the intense supervisory focus we are placing on their transition and especially on their plans to end issuance of new contracts by year end.” Overall, the Libor transition is something bankers will want to have their arms firmly wrapped around sooner rather than later.
The Internal Revenue Service said today that it has issued another 25 million economic impact payments with a value of more than $36 billion in the fourth batch of payments.
The Financial Stability Board is in the process of building a “roadmap” to coordinate work being done on climate-related financial risks, FSB Chair and Federal Reserve Vice Chairman for Supervision Randal Quarles wrote in a letter to G-20 finance ministers today.
The FDIC today announced the appointment of nine new members to its Advisory Committee on Community Banking.
In a report released today by the International Monetary Fund, analysts wrote that while “massive policy support” helped to ease financial conditions and buoy the economy during the past year, actions taken during the pandemic also may offer a longer-term mixed bag of “unintended consequences” for global markets.
Delaying the mandatory compliance date of the new QM rules could “foster disruptive market confusion and complicate bank compliance efforts considerably,” ABA said in a comment letter to the Consumer Financial Protection Bureau yesterday.
New orders for manufactured goods in February, down following nine consecutive monthly increases, decreased $4.1…
The ISM Services Index registered 63.7% in March; 8.4 percentage points higher than the February…
The Consumer Financial Protection Bureau today proposed to establish a temporary COVID-19 emergency pre-foreclosure review period under Regulation X that would prohibit servicers from making the first notice or filing required to initiate foreclosure until Dec. 31.