FDIC Unveils Resource Page on Brokered Deposits, National Rate Cap
With the FDIC’s new rules on brokered deposits and interest rate restrictions now in effect,…
Browsing: Interest rates
FOMC: Banks Could Face Increased Stress From Loan Defaults if Economic Recovery Stalls
Small and medium-sized banks could face stress from defaults on loans to small business and commercial real estate if consumers continue to avoid traveling and shopping, the Federal Open Market Committee said today.
Fed Aims for Inflation ‘Moderately Above 2%’
As the coronavirus pandemic continues to cause tremendous human and economic hardship across the country the Federal Reserve will aim to achieve inflation “moderately above 2% for some time” the Federal Open Market Committee said today.
FOMC Minutes Highlight Uncertainty about Economic Path Due to Virus
Certain segments of the economy were beginning to show improvement in recent days, but the trajectory of the economy overall will continue to depend on the course of the coronavirus, according to minutes from the most recent Federal Open Market Committee meeting released today.
Fed Holds Interest Rates Steady
As expected, the Federal Reserve announced today that it would hold the target range for the federal funds rate at 0 to 0.25% as the U.S. continues to weather the economic challenges of the coronavirus pandemic.
OCC Issues Long-Awaited Final Rule Clarifying ‘Valid When Made’ Principle
The OCC issued a long-awaited final rule today affirming that permissible interest on a loan made by a national bank or federal thrift remains valid when the loan is transferred or sold, codifying the “valid when made” principle for nationally chartered banks.
FOMC Minutes: Members See Economic Activity Declining at ‘Unprecedented Rate’ in Q2
Members of the Federal Reserve Open Market Committee said they expect economic activity in the second quarter to “decline at an unprecedented rate” as the coronavirus pandemic persists in the U.S., with the heaviest burden likely to fall on the “most vulnerable and financially constrained households in the economy.”
FOMC Members: Coronavirus Pandemic ‘Not Directly Comparable’ with 2008 Financial Crisis
The near-term U.S. economic outlook “deteriorated sharply” and became “profoundly uncertain,” prompting the Federal Open Market Committee to drop interest rates to near zero over the course of two unscheduled policy actions in early and mid-March
Fed Announces Emergency Rate Cut Amid Coronavirus Fears
Acknowledging the “evolving risks” that the coronavirus outbreak poses to the U.S. economy, the Federal Open Market Committee unanimously voted to cut the target range for the federal funds rate by 50 basis points to a range of 1% to 1.25%.
ABA: Interest Rate Caps Would Harm Consumers
The American Bankers Association today warned lawmakers of the potential consequences of imposing interest rate caps on consumer credit products.