Sixty-one percent (up 11 points from 2013) said they could cover a $400 emergency expense in cash, a benchmark often cited by policymakers.
The National Credit Union Administration board today proposed a rule that would allow federal credit unions to have up to 50% of their deposits come from other credit unions and government entities, up from a 20% cap today.
Banks do not base decisions on how much they should hold in reserve at the Federal Reserve Banks on their desire to earn the interest paid on excess reserves, according to a Fed survey of senior financial officers released today.
The Basel, Switzerland-based Financial Stability Board is seeking feedback from industry stakeholders on the post-crisis regulatory reforms for “too big to fail” banks.
Sen. Thom Tillis (R-N.C.) yesterday introduced a long-awaited bill—S. 1564—calling for a delay in the implementation of the Financial Accounting Standards Board’s current expected credit loss standard until a quantitative impact study can be completed to understand its likely effects it will have on the economy.
ABA, along with several other industry trade groups under the Partnership to Protect Workplace Opportunity, today expressed support for the U.S. Department of Labor’s proposed rewrite of the Obama administration’s 2016 overtime rule, which was overturned in federal court.
The 51 state bankers associations today urged the Senate Banking Committee to hold hearings on legislative solutions to the conundrum faced by banks in states where marijuana has been legalized.
While corporate debt is at near-record levels and recent growth has been concentrated in riskier segments, “business debt does not appear to present notable risks to financial stability,” Federal Reserve Chairman Jerome Powell said today in Florida.
Ensuring that Fannie Mae and Freddie Mac are sufficiently capitalized will be critical for removing the GSEs from conservatorship, FHFA Director Mark Calabria said in a recent Q&A in Politico magazine.
In a recent letter to congressional leaders, the American Bankers Association called for the extension of the National Flood Insurance program to ensure that millions of Americans can continue to access flood insurance coverage as Congress contemplates more significant changes to the program.