Broad Repo Rate Recommended as Libor Alternative
The Alternative Reference Rate Committee on Thursday recommended a broad Treasuries repo financing rate as a preferred alternative to the London Interbank Offer Rate, or LIBOR.
The Alternative Reference Rate Committee on Thursday recommended a broad Treasuries repo financing rate as a preferred alternative to the London Interbank Offer Rate, or LIBOR.
The OCC’s proposed limited-purpose charter for fintech companies was the subject of a lively discussion at the American Bankers Association’s Payments Forum today, as regulators from the OCC and Conference of State Bank Supervisors exchanged at-times opposing views.
The largest U.S. banks collectively showed that they can withstand a severe economic downturn and continued to improve their capital positions, according to the results of Dodd-Frank Act-mandated stress tests the Federal Reserve released today.
The U.S. economy will continue to expand, with growth in 2017 forecast to just above 2 percent, the American Bankers Association Economic Advisory Committee said today.
The number of home loans backed by Fannie Mae and Freddie Mac that are 60 days or more past due or are in the foreclosure process fell 10 percent in the first quarter to the lowest level since 2008.
The Senate Budget Committee today released a discussion draft of the Senate health care reform bill.
In a joint financial trade association letter to House and Senate Appropriations Committee leadership today, ABA supported the inclusion of language in the fiscal year 2018 spending bill that would transition the Consumer Financial Protection Bureau to a bipartisan, five-member commission.
As the debate over financial regulatory reform now shifts to the Senate, 52 state associations today called on Senate leadership to support a bipartisan reg relief bill that would help create economic growth and improve the availability of credit to consumers.
Just 13 percent of banks have a formalized payments strategy in place, according to a new survey released today at ABA’s inaugural Payments Forum in Washington, D.C.
As more and more fintech companies emerge in the financial services industry, Rep. Randy Hultgren (R-Ill.) today said that that Congress’ role must be to “make sure we’re not getting in the way of innovation” and ensure a level playing field between bank and nonbank players.