ABA and the Georgia Bankers Association today released a new voter education ad thanking Sen. David Perdue (R-Ga.) for supporting the CARES Act and the Paycheck Protection Program during the coronavirus pandemic.
It’s vital to verify data across sources to create a comprehensive 360-degree view of specific businesses.
The Federal Reserve today announced that it would extend several lending facilities that were set…
In a comment letter to the FDIC today, ABA welcomed a recent interim final rule granting temporary relief for certain banks from auditing, internal control and audit committee requirements that would have resulted from the rapid inflow of assets and deposits from the coronavirus pandemic.
In a letter to Treasury Secretary Steven Mnuchin late Friday, Federal Reserve Chairman Jerome Powell said his agency would “work out arrangements . . . for returning the unused portions of the funds allocated to the CARES Act facilities in connection with their year-end termination.”
With several emergency credit facilities created to respond to the COVID-19 emergency scheduled to wind down by year’s end, Treasury Secretary Steven Mnuchin today asked the Federal Reserve to return unused funds in several facilities to the Treasury.
The turmoil observed in global financial markets earlier this spring during the COVID-19 pandemic highlighted the need to “strengthen the resilience in the [nonbank financial intermediation] sector,” according to a new report from the Financial Stability Board today.
In the wake of the COVID-19 pandemic, 85% of financial institutions said they have increased digitization efforts, according to a new survey from BAFT, ABA’s global transaction banking subsidiary, and CGI, an independent IT and business consulting firm.
The current murky picture delivered by traditional data has forced an increased focus on new methods that better capture credit risk.
Regulators are exploring additional ways to provide temporary relief to banks that may be approaching regulatory asset thresholds that could trigger additional compliance requirements as a result of participation in COVID-19 relief programs like the Paycheck Protection Program.