by Reuters | Aug 30, 2016 | Commercial & Industrial, CR Daily, Executive Briefing, Industry News
The U.S. job market is nearly at full strength and the pace of interest rate increases by the Federal Reserve will depend on how well the economy is doing, Fed Vice Chairman Stanley Fischer said on Tuesday.
by Reuters | Aug 25, 2016 | Banking & Lending, CR Daily, Executive Briefing, Industry News
While markets wait for Janet Yellen’s latest message about the direction of monetary policy, the Federal Reserve chief and her colleagues already have one for politicians: the U.S. economy needs more public spending to shift into higher gear.
by The Commercial Record | Aug 4, 2016 | Banking & Lending, CR Daily, Executive Briefing, Industry News
The Federal Reserve hit Goldman Sachs on Wednesday with a $36.3 million penalty for improperly sharing confidential regulatory information with clients and prospective clients.
by The Commercial Record | Aug 3, 2016 | Banking & Lending, CR Daily, Executive Briefing, Industry News
U.S. banks tightened commercial lending standards in the second quarter, while residential lending standards remained largely unchanged, according to a recent survey out of the Federal Reserve.
by Reuters | Jul 26, 2016 | Banking & Lending, CR Daily, Executive Briefing, Industry News
The U.S. Federal Reserve is preparing an enforcement action against Goldman Sachs Group Inc. related to a leak of confidential government information to one of its employees, the New York Times reported on Monday.
by Reuters | Jul 5, 2016 | Banking & Lending, CR Daily, Executive Briefing, Industry News
Warren Buffett’s Berkshire Hathaway Inc. is seeking permission from the Federal Reserve to increase its ownership stake in Wells Fargo & Co., after reaching the 10 percent level that could prompt increased regulatory scrutiny. According to papers obtained by...
by Laura Alix | Jun 30, 2016 | Banking & Lending, CR Daily, Executive Briefing, Industry News
The capital plans of 30 of the largest bank holding companies in the U.S. recently passed muster in the Federal Reserve in its latest round of stress testing, but the U.S. arms of two international banks proved repeat offenders. “Over the six years in which...
by Reuters | Jun 27, 2016 | Banking & Lending, CR Daily, Executive Briefing, Industry News
The stress tests created for banks by U.S. regulators after the 2008 financial crisis may prove their worth this week, providing a timely message on banks’ hardiness in the midst of turbulence over last week’s vote by Britain to leave the European Union. The Federal...
by Reuters | Jun 21, 2016 | Banking & Lending, CR Daily, Executive Briefing, Industry News
The U.S. Federal Reserve’s dwindling confidence in its own outlook and resulting confusion among investors are creating a policy problem that may require chief Janet Yellen to lay out her own views more forcefully. The Fed chair’s next communications test comes on...
by Reuters | Jun 16, 2016 | Banking & Lending, Executive Briefing, Industry News, Residential Real Estate
The U.S. Federal Reserve kept interest rates unchanged on Wednesday and signaled it still planned to raise rates twice in 2016, though it said slower economic growth would crimp the pace of monetary policy tightening in future years. The central bank’s decision to...
by Reuters | Jun 15, 2016 | Banking & Lending, Executive Briefing, Industry News
The Federal Reserve is expected to keep interest rates unchanged on Wednesday and signal if it still plans to raise rates twice in 2016 amid concerns about a U.S. hiring slowdown and Britain’s possible exit from the European Union. The Fed raised its key overnight...
by Reuters | Jun 3, 2016 | Banking & Lending, Executive Briefing, Industry News
The U.S. economy created the fewest number of jobs in more than five and a half years in May, as manufacturing and construction employment fell sharply, suggesting slippage in the labor market that could make it harder for the Federal Reserve to raise interest rates....
by Reuters | Jun 2, 2016 | Executive Briefing, Industry News
U.S. private employers increased hiring in May and new applications for jobless benefits fell last week, further boosting the economic outlook for the second quarter. Another report on Thursday showed planned layoffs by U.S.-based employers fell 53 percent to a...
by Reuters | May 25, 2016 | Banking & Lending, Executive Briefing, Industry News
Recent hacks of international banks through the SWIFT messaging system raise serious questions about cyber-related risks to U.S. firms, Representative Carolyn Maloney wrote on Monday in a letter to the country’s top banking regulators that asked about measures...
by Reuters | Apr 27, 2016 | Banking & Lending, Executive Briefing, Industry News
The U.S. Federal Reserve is expected to keep interest rates unchanged on Wednesday as it continues to monitor the impact from weakening global growth but may seek to signal to markets it is determined to resume policy tightening this year. The Fed has held its...
by Reuters | Mar 17, 2016 | Banking & Lending, Executive Briefing, Industry News
The U.S. interest rate that the Federal Reserve targets to conduct its monetary policy held at 0.37 percent for a second day on Wednesday, according to Fed data released on Thursday. The average, or effective, fed funds rate USONFFE= traded in a range of 0.35 percent...
by Reuters | Mar 16, 2016 | Banking & Lending, Executive Briefing, Industry News
The U.S. Federal Reserve is expected to hold interest rates steady on Wednesday as it balances continued concerns about the health of the global economy with fresh signs that domestic inflation is starting to rear its head. The central bank, which hiked rates in...
by The Commercial Record | Mar 14, 2016 | Banking & Lending, Comings & Goings, Executive Briefing, Industry News, People
The Federal Reserve Bank of New York recently named First County Bank Chairman and CEO Reyno A. Giallongo Jr. a member of its Community Depository Institutions Advisory Council. The council is composed of representatives from commercial banks, thrifts and credit...
by Reuters | Feb 19, 2016 | Banking & Lending, Commercial & Industrial, Executive Briefing, Industry News, Residential Real Estate
Rising rents and medical costs lifted underlying U.S. inflation in January by the most in nearly four and a half years, signs of a pick-up in price pressures that could allow the Federal Reserve to gradually raise interest rates this year. The Labor Department said on...
by Reuters | Jan 8, 2016 | Banking & Lending, Commercial & Industrial, Executive Briefing, Industry News
An acceleration in U.S. wage growth reinforces the Federal Reserve’s view that inflation is poised to rebound and could lead the central bank to raise rates more this year than many investors expect. While average hourly earnings were flat in December, they were...
