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Banking Regulators

All articles tagged with #banking regulators

business2 years ago

Jobless Claims and Housing Data Impact Markets, Walmart Earnings Rise.

Weekly jobless claims in the US fell to 242,000, below economists' expectations, while continuing claims ticked down to 1.799 million. Treasury Secretary Janet Yellen is set to meet with bank CEOs to discuss the debt ceiling, which is causing alarm and frustration in Washington. Manhattan rents hit a record high for the second month in a row, with the median cost of renting an apartment at $4,241 in April. The Senate Banking Committee will grill federal regulators over bank failures. Stocks closed higher amid hopes of a debt ceiling deal and confidence in the banking sector.

via CNN|
#banking-regulators#business#debt-ceiling
finance2 years ago

The Lingering Banking Crisis: Managing Risk and Doom Loops.

US regional banks are facing a crisis of confidence as deposit flight has forced them to pull back on lending, with three banks collapsing and others being hit. The uncertain economic outlook and other risks are adding to the pressure, and continued stress on these banks could push the economy into a recession. Regulators, bankers, and experts are floating ideas for additional steps Washington could take to stamp out the crisis, but those options either encourage things that regulators don't want or are steps that have not really worked in the past. This leaves regulators with tools that treat the symptoms but have unwanted side effects and don't provide the cure, creating a vicious cycle and putting pressure on regulators to intervene again.

via Reuters.com|
#banking-regulators#economic-outlook#fdic
banking2 years ago

The Fallout of Silicon Valley Bank's Bailout

Federal banking regulators did not fulfill Silicon Valley Bank's pledge to provide billions in lending to low-income communities as part of an $11 billion community benefits agreement signed ahead of a major merger in 2021. The collapse of the bank could leave thousands of planned Bay Area affordable housing units in jeopardy and halt a $10 million program to increase homeownership in communities of color. Advocates are calling for stronger oversight of bank mergers and for tangible benefits for the public.

via The Lever|
#affordable-housing#banking#banking-regulators
finance2 years ago

Jamie Dimon warns of ongoing banking crisis and criticizes regulators.

JPMorgan Chase CEO Jamie Dimon has criticised US banking regulators for failing to see risks that were "hiding in plain sight" and giving incentives to lenders such as Silicon Valley Bank to stock up on Treasury bonds, the value of which tanked as the Federal Reserve hiked interest rates. Dimon warned that the repercussions of the collapse of Silicon Valley Bank and other lenders will be felt for years to come, but said it won't be like 2008 and that regulators shouldn't overreact. He also sounded an optimistic note about the US economy, citing "10 years of home and stock price appreciation" as well as wages that are "going up, particularly at the low end."

via New York Post |
#banking-regulators#finance#jamie-dimon