Posts Tagged ‘Federal Reserve’

Consumer Borrowing Slows in June

Posted on August 10, 2017 by Laura Lam

Consumer borrowing slowed a bit in June from the torrid growth in the prior month, but continued at a solid pace, according to government data released Monday.  Total consumer credit increased $12.4 billion in June to a record seasonally adjusted $3.86 trillion, posting an annual growth rate of 3.9%, according to the Federal Reserve.  This is down from a revised $18.3 billion gain in May, which was the strongest rate in six months. Consumer borrowing slowed a bit in the second quarter as a whole, continuing a trend in place since last fall. Credit rose at a 4.5% annual rate…

Trump to Replace Top Banking Regulator

Posted on May 02, 2017 by Laura Lam

The Trump administration, looking to make its first major imprint on U.S. banking regulators, is preparing to replace Comptroller of the Currency Thomas Curry as chief overseer of federally chartered banks, according to people familiar with the matter. President Donald Trump could soon replace Curry with an acting head of the agency, who would serve until a new comptroller is confirmed, these people said. The change could happen as soon as this week, they said. A White House spokeswoman declined to comment, as did a spokesman for Curry. The comptroller oversees hundreds of bank supervisors stationed inside large U.S. financial…

Banks Tighten Auto Loan Standards

Posted on August 04, 2016 by Laura Lam

Bankers continued tightening credit for business loans and auto loans in the last three months while they continued to ease credit standards slightly in their home mortgage and consumer loan portfolios, according to the Federal Reserve’s latest senior loan officer survey. A net 8.5% of bankers said they had tightened standards for large and mid-sized firms in the previous quarter, down from the previous report, while 7.1% said they tightened for smaller businesses, up slightly from the previous quarter. Significantly higher net percentages said they had tightened standards on a range of commercial real estate loans, with 44.3% saying they tightened…

Threats to Financial Stability on the Rise

Posted on December 16, 2015 by Saldutti

Risks on Wall Street and in the finance sector are rising, researchers for the federal government warned yesterday.  Among the problem areas are increasingly risky corporate bonds and unintended consequences of new regulations imposed on banks, according to a new report on financial markets by the Office of Financial Research. “Overall, threats to U.S. financial stability remain moderate, in other words, in a medium range, but they edged higher within that range over the past year,” Office of Financial Research Director Richard Berner said in announcing the report.  The report is the first of its kind but will be published…