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.
A federal judge in New York yesterday blocked the OCC from issuing charters to non-depository special-purpose national banks, as the agency first proposed to do in 2016.
The global financial system is resilient, with large banks much better capitalized, less leveraged and more liquid, according to the Financial Stability Board’s report on post-crisis reforms issued today.
With leveraged lending-related risk on regulators’ minds — and on the agenda of the House Financial Services Committee tomorrow — the ABA Banking Journal Podcast discusses the issue with ABA Senior Economist Curtis Dubay.
With Vice Chairman for Supervision Randal Quarles scheduled to testify on Capitol Hill next week, the Federal Reserve today released its second report on its regulatory and supervisory activities for banking companies.
The rapid growth is attributable largely to nonbanks. Should this group of loans start underperforming, the risk to the banking sector is relatively low.
Small businesses’ profitability and their success applying for financing held steady from 2017 to 2018, according to the latest Small Business Credit Survey—a joint effort by the 12 regional Federal Reserve Banks—released today.