The key question that will determine who wins and who loses in this digital age of banking: “Who controls the customer relationship?”
The share of low-rated commitments in the Shared National Credit portfolio rose slightly between 2018 and 2019, according to the SNC Review released today.
Bank-like activity by nonbanks that poses financial stability risks grew by 1.7% to total $50.9 trillion in 2018, according to the Basel, Switzerland-based Financial Stability Board today.
By looking at recent alternative banking announcements, banks can learn a few things that will help them take their commercial banking to the next level.
The way nonbank online lenders advertise or disclose up-front loan terms and costs for small businesses varies greatly, producing confusion for small business borrowers as online lending gains market share, according to research published Thursday by the Federal Reserve Board and the Federal Reserve Bank of Cleveland.
A recent report by the Basel, Switzerland-based Financial Stability board highlighted significant data gaps that are impeding regulators’ ability to conduct a comprehensive assessment of the financial stability risks associated with the market for leveraged loans and collateralized loan obligations.
Nonbanks should not expect direct access to FedNow, the 24/7/365 payments system the Federal Reserve is developing, according to a top staffer.
Regulators need to understand the pressures that banks face to innovate and support those efforts, FDIC Chairman Jelena McWilliams said today.
In recent years, nonbanks have made major inroads into sectors like the single-family mortgage market, where they now originate more than half of loans.