Freddie Mac launched a groundbreaking multifamily structured pass-through deal that includes a class of floating rate bonds indexed to the Secured Overnight Financing Rate for the first time ever.
Though details of a potential pact with China aren't clear, bankers are hoping it could convince leery customers to finally go through with delayed investments.
Many business customers are putting off expansion because they can’t find enough workers to fill available jobs.
The agency’s semiannual report warned institutions to be mindful of operational risks from the innovation in core banking systems, and detailed supervisory steps to monitor the adoption of a new reference rate.
Paul Volcker, the former Federal Reserve chairman who broke the back of U.S. inflation in the 1980s and three decades later led President Barack Obama’s bid to rein in the investment risk-taking of commercial banks, has died.
The Treasury secretary suggested a role for lawmakers in containing any fallout with financial contracts stemming from the transition to a new interest rate benchmark.
So far farm loans are holding up well, but bankers gathered at an industry conference this week said they are growing increasingly concerned that credit quality will weaken if the U.S. and China don’t reach a deal soon.
Unlike previous central bank chiefs, Powell’s chances of being renominated by either the current president or many of the Democratic contenders are slim.
Concerns over banks’ level of preparation have led to worries about disruptions in the lending market, and some financial institutions warn that a new interest rate benchmark could cause lenders to pull back on credit.
Executives sent a letter to the federal banking regulators last month expressing concern that an alternative to the London interbank offered rate could limit credit availability.
Investors and issuers understand Libor’s end is a near certainty. But many remain unprepared to replace the benchmark
Richard Sandor's Ameribor benchmark continues to gain traction in the regional/community bank field.
Property values recovered, and in some cases even surpassed housing bubble peaks, but the same can't be said for waning new construction activity, which won't return to historic norms for years, according to Zillow.
The Federal Housing Finance Agency is revising the multifamily loan purchase caps for the mortgage giants Fannie Mae and Freddie Mac to increase affordable housing.
The event is the bureau's second in a series on consumer protection policy. The first dealt with the agency's authority to penalize firms for unfair, deceptive or abusive acts and practices.
Trustees are concerned about obtaining proper consents from legacy residential mortgage-backed securities investors in a timely fashion in order to make the switch from Libor to another index, Fitch Ratings said.
According to Covenant Review, HPS Investment Partners is among the first CLO managers to plan on the use of a forward-looking SOFR term rate to price coupons if Libor benchmark rates disappear after 2021, as expected.
After rising between 2016 and 2018, the card issuer's charge-off rates are now steady. The trend reflects both the impact of tighter underwriting standards and the continued resilience of U.S. consumers.
While mortgage rate optimism kept consumer confidence about the home purchase market high in June, affordability worries pulled overall sentiment lower, a Fannie Mae survey said.
Federal Reserve Chairman Jerome Powell says the agency is closely monitoring leveraged lending risks, but suggests further regulations on banks aren’t warranted.
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