Business debt is historically high relative to U.S. gross domestic product, with debt increasing most rapidly among the riskiest firms amid weak credit standards, the Federal Reserve said today in its financial stability report.
As the Federal Reserve moves ahead with its plan to develop the FedNow real-time payments settlement service, the American Bankers Association noted in a comment letter today that “FedNow can contribute to a better, faster and safer payment system if implemented correctly.”
Bankers left commercial and industrial lending standards mostly unchanged amid weakening demand in the third quarter of 2019, according to the Federal Reserve’s latest senior loan officer survey released today.
ABA today wrote to the heads of the Federal Reserve, FDIC and OCC requesting clarity on the effective date of recently finalized final rules on the tailoring of capital and liquidity standards.
The Federal Reserve and the FDIC are seeking feedback on the consistency and ratings assigned to financial institutions under the Uniform Financial Institutions Rating System.
In a Federal Reserve survey released today, senior financial officers from 80 U.S. banks and U.S. branches of foreign banks reported that their lowest comfortable level of reserve balances was slightly over $652 billion, down slightly from a survey earlier this year.
The Federal Reserve today approved its long-awaited framework for tailoring enhanced prudential standards for firms with $100 billion or more in assets—as required by the S. 2155 regulatory reform law—and how it will apply those standards to large U.S. and foreign banking organizations.
As the Federal Reserve moves ahead with the creation of the FedNow real-time payments service, interoperability with existing systems will be critical to ensuring consumer choice, according to an op-ed in American Banker today.
As the Federal Reserve develops its own faster payments system, it must focus on ensuring interoperability between the existing RTP Network, rthe American Bankers Association said in a statement for the record submitted ahead of a Senate Banking Committee hearing today.
The Federal Open Market Committee announced today that it would cut interest rates for the second time this year.