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Items Tagged with 'Federal Reserve Board'

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Yellen: If nothing changes, expect higher interest rates this year

Contingent on “continued improvement” in labor market conditions
Ben Lane
As predicted by many economists, the Federal Reserve is indeed considering raising the Federal Funds Rate later this year, Fed Chair Janet Yellen said Friday. And if the economy improves as expected, she believes it will be “appropriate” for the Fed to raise the Federal Funds Rate this year, which in turn, would affect mortgage interest rates.
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Which banks are positioned to capitalize on stress test results?

Deeper dive into Dodd-Frank stress test
Ben Lane
The country’s biggest banks are all well-positioned to survive a severe recession, the Federal Reserve announced Thursday. But which bank was the big winner?
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Fed announces exemption adjustment for smaller loans

New exemption level starts Jan. 1
Trey Garrison
The Federal Reserve released its revised exemption level clearing smaller loans from the appraisal requirement of larger mortgage loans.
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Even Ben Bernanke can’t refinance right now

Suggests lenders may have “gone a little bit too far"
Ben Lane
Speaking at a conference of the National Investment Center for Seniors Housing and Care in Chicago, Bernanke said that the market is so tight right now that he was unable to refinance his own home loan recently.
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Lawmakers demand more controls on Fed bailout power

Warren, Vitter, Brown, & others lead charge to change "too big to fail" plans
Ben Lane
In the letter, the lawmakers write that the Fed’s proposed rule under Section 1101 "places no meaningful restrictions on its emergency lending powers, and in a time of crisis, invites the same sort of backdoor bailout we witnessed five years ago."
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Federal regulators order big banks to fix “living wills”

Bank of America, JPMorgan Chase, others told to fix bankruptcy plans
Ben Lane
"The living wills before us fail to fully acknowledge these issues and ignores other operational issues," said Thomas Hoenig, FDIC vice chairman. "They demonstrate little ability to cope adequately with failure without some form of government support. The economy would almost surely go into crisis."
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Fed Board now required to have one community banker

Senate amendment reserves one seat for community banks
Ben Lane
The amendment states, “In selecting members of the Board, the President shall appoint at least 1 member with demonstrated primary experience working in or supervising community banks having less than $10,000,000,000 in total assets.”
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Old National Bank merges with United Bank & Trust

Merged bank would become 98th largest bank in U.S.
Ben Lane
Upon consummation of the merger, Old National would become the 98th largest depository organization in the United States, with consolidated assets of approximately $11.2 billion.
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Fischer sworn in as Fed vice chairman

Brainard and Powell also sworn in as Fed Governors
Ben Lane
The Federal Reserve Board of Governors now has a vice chairman, a new member and one member who will be around for a second term.
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Stanley Fischer sworn in as Fed Governor

Ben Lane
President Obama nominated Fischer on Jan. 13, 2014, and the United States Senate confirmed him as a Board member on May 21. Fischer was also nominated to serve as Vice Chair of the Fed Board. However, his confirmation for that position is still pending Senate approval.
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