Category: Business » Banking

Federal Reserve Board prohibits former foreign exchange (FX) trader from participating in banking industry for practices regarding FX pricing benchmarks

24 Jul 13:30 | Business

Federal Reserve Board prohibits former foreign exchange (FX) trader from participating in banking industry for practices regarding FX pricing benchmarksread more »

Federal Reserve commends efforts as Faster Payments Task Force concludes

24 Jul 12:00 | Business

Federal Reserve commends efforts as Faster Payments Task Force concludesread more »

Hiring Risk Executives To Protect US Banks Backfired, Contributing To 2008 Crash

21 Jul 17:28 | Business

When America's major banks created executive positions to reduce exposure to financial risk more than a decade ago, their intent was similar to an employer who designates a fire warden to protect a workplace against smoke and flames. However, the unintended consequence was like giving the fire warden job to a pyromaniac.read more »

Federal regulatory agencies announce coordination of reviews for certain foreign funds under "Volcker Rule"

21 Jul 15:30 | Business

Federal regulatory agencies announce coordination of reviews for certain foreign funds under "Volcker Rule"read more »

Two-Time Olympic Medalist Galen Rupp and American Marathon Debut Record Holder Jordan Hasay Headline Strong Field of American Runners at the 40th Annual Bank of America Chicago Marathon

20 Jul 10:04 | Business

The Bank of America Chicago Marathon announced today that two-time Olympic medalist Galen Rupp and American marathon debut record holder Jordan Hasay will lead a deep field of American contenders at the 40th annual Bank of America Chicago Marathon. Adding an exclamation point to the elite athlete field, 1984 Olympic gold medalist and 1985 Chicago Marathon champion Joan Benoit Samuelson will toe the line in an attempt to set an age group world record.

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Federal Reserve Board announces approval of applications by Regions Bank

19 Jul 15:00 | Business

Federal Reserve Board announces approval of applications by Regions Bankread more »

Federal banking agencies issue notice of proposed rulemaking to exempt commercial real estate transactions of $400,000 or less from appraisal requirements

19 Jul 11:00 | Business

Federal banking agencies issue notice of proposed rulemaking to exempt commercial real estate transactions of $400,000 or less from appraisal requirementsread more »

Bank of America Unveils New Mobile Capability to Apply for Business Advantage Term Loans and Credit Lines

19 Jul 09:02 | Business

Bank of America today announced enhancements to its mobile app read more »

Bank of America Reports Second-Quarter 2017 Financial Results

18 Jul 06:51 | Business

Bank of America reported its second-quarter 2017 financial results read more »

Federal Reserve Board announces $246 million fine against BNP Paribas S.A. and certain of its U.S. subsidiaries for unsafe and unsound practices

17 Jul 13:30 | Business

Federal Reserve Board announces $246 million fine against BNP Paribas S.A. and certain of its U.S. subsidiaries for unsafe and unsound practicesread more »

Bank of America Names Andy Crask Market President for Indianapolis

17 Jul 10:04 | U.S. News

Bank of America today announced that Andy Crask has been appointed as market president, serving as the company’s enterprise leader in Indianapolis. In addition to his market president role, Crask was also named the market executive for Business Banking for Indiana.

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G17: Revised Estimates of Industrial Capacity

15 Jul 09:34 | Business

The estimates for industrial capacity in 2017 were revised for today's G.17 release.The revisions reflect updated measures of physical capacity from various government and private sources as well as updated estimates of capital spending by industry. Measured from the fourth quarter of 2016 to the fourth quarter of 2017, capacity indexes for the industrial sector and for manufacturing are now expected to increase 1.1 percent and 0.7 percent, respectively; each gain is 0.1 percentage point higher than previously estimated. Mining capacity is now expected to rise 2.7 percent. This increase is 0.5 percentage point higher than previously estimated, primarily reflecting faster capacity growth for oil and gas extraction. The increase in capacity for utilities is unrevised at 0.7 percent.read more »

G17: G.17 Data for June 2017 are now available

15 Jul 09:34 | Business

Industrial production and capacity utilization data for June 2017 are now available.Industrial production rose 0.4 percent in June for its fifth consecutive monthly increase. Manufacturing output moved up 0.2 percent; although factory output has gone up and down in recent months, its level in June was little different from February. The index for mining posted a gain of 1.6 percent in June, just slightly below its pace in May. The index for utilities, however, remained unchanged. For the second quarter as a whole, industrial production advanced at an annual rate of 4.7 percent, primarily as a result of strong increases for mining and utilities. Manufacturing output rose at an annual rate of 1.4 percent, a slightly slower increase than in the first quarter. At 105.2 percent of its 2012 average, total industrial production in June was 2.0 percent above its year-earlier level. Capacity utilization forread more »

Minutes of the Board's discount rate meetings from June 5 and June 14, 2017

11 Jul 2017 | Business

Minutes of the Board's discount rate meetings from June 5 and June 14, 2017read more »

Federal Reserve Board announces approval of application by Veritex Holdings, Inc.

7 Jul 2017 | Business

Federal Reserve Board announces approval of application by Veritex Holdings, Inc.read more »

Mortgage Rates Continue To Rise

7 Jul 2017 | Business

Mortgage rates nudged higher for the third week in a row, as the benchmark 30-year fixed mortgage rate rose to 4.16 percent, according to Bankrate.com's weekly national survey. read more »

Euromoney Awards for Excellence 2017 Recognize Bank of America for Global Leadership in Corporate Social Responsibility and Advisory

7 Jul 2017 | Business

July 7, 2017, 4:00 am EDT Euromoney Awards for Excellence 2017 Recognize Bank of America for Global Leadership in Corporate Social Responsibility and Advisoryread more »

Federal Reserve Board appoints Mark E. Van Der Weide as general counsel

6 Jul 2017 | Business

Federal Reserve Board appoints Mark E. Van Der Weide as general counselread more »

Institute for Economic Empowerment of Women and Bank of America Advance Women Entrepreneurs in Rwanda and Afghanistan With PEACE THROUGH BUSINESS® Program

6 Jul 2017 | Business

July 6, 2017, 9:00 am EDT Institute for Economic Empowerment of Women and Bank of America Advance Women Entrepreneurs in Rwanda and Afghanistan With PEACE THROUGH BUSINESS® Programread more »

Agencies post public sections of resolution plans; announce deadline extension for two non-bank financial firms

5 Jul 2017 | Business

Agencies post public sections of resolution plans; announce deadline extension for two non-bank financial firmsread more »

Minutes of the Federal Open Market Committee, June 13-14, 2017

5 Jul 2017 | Business

Minutes of the Federal Open Market Committee, June 13-14, 2017read more »

Bank of America Declares Preferred Dividends

5 Jul 2017 | Business

22222222222222222222222222222222222222222222222Bank of America Corporation today announced the Board of Directors has authorized regular cash dividends on the outstanding shares or depositary shares of the following series of preferred stock: ...

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Federal Reserve Chair Janet L. Yellen was treated at King Edward VII hospital in London over the weekend

3 Jul 2017 | Business

Federal Reserve Chair Janet L. Yellen was treated at King Edward VII hospital in London over the weekendread more »

Mortgage Rates Inch Higher

30 Jun 2017 | Business

Mortgage rates were slightly higher for the second week in a row, as the benchmark 30-year fixed mortgage rate rose to 4.07 percent, according to Bankrate.com's weekly national survey.read more »

Federal Reserve Payments Study highlights changes in consumer and business payment choice

30 Jun 2017 | Business

Federal Reserve Payments Study highlights changes in consumer and business payment choiceread more »

Federal Reserve Board to publish Monetary Policy Report to the Congress on July 7

29 Jun 2017 | Business

Federal Reserve Board to publish Monetary Policy Report to the Congress on July 7read more »

Federal Reserve Board releases annual determination of aggregate consolidated liabilities of financial companies

29 Jun 2017 | Business

Federal Reserve Board releases annual determination of aggregate consolidated liabilities of financial companiesread more »

Bank of America Announces Increases to Quarterly Common Stock Dividend and Common Share Repurchase Program

28 Jun 2017 | Business

Bank of America today announced that the company’s Board of Directors plans to increase its quarterly common stock dividend by 60 percent to $0.12 per share, beginning in the third quarter of 2017.

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Federal Reserve releases results of Comprehensive Capital Analysis and Review (CCAR)

28 Jun 2017 | Business

Federal Reserve releases results of Comprehensive Capital Analysis and Review (CCAR)read more »

Nearly 1 In 4 Has No Emergency Savings

28 Jun 2017 | U.S. News

Nearly a quarter of Americans have no emergency savings, according to a new report from Bankrate.com. However, the percentage of those without an emergency fund currently sits at a six year low, down to 24% this year from 28% last year.read more »

Ricardo A. Aguilera appointed new director of Division of Financial Management and chief financial officer

27 Jun 2017 | Business

Ricardo A. Aguilera appointed new director of Division of Financial Management and chief financial officerread more »

Federal Reserve Board announces $3 million fine against Bank of New York Mellon Corporation (BNY Mellon) for unsafe and unsound practices

27 Jun 2017 | Business

Federal Reserve Board announces $3 million fine against Bank of New York Mellon Corporation (BNY Mellon) for unsafe and unsound practicesread more »

Mortgage Rates Nudge Higher, But Remain Near 7-Month Lows

23 Jun 2017 | Business

Mortgage rates were slightly higher this week, as the benchmark 30-year fixed mortgage rate rose to 4.05 percent, according to Bankrate.com's weekly national survey. read more »

Bank of America Provides 2017 Stress Test Results

22 Jun 2017 | Business

Bank of America today published the results of the company’s 2017 Dodd-Frank Act Annual Stress Test. The results can be found on the company’s Investor Relations website at http://investor.bankofamerica.com under the Events and Presentations tab.

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Federal Reserve Board releases results of supervisory bank stress tests

22 Jun 2017 | Business

Federal Reserve Board releases results of supervisory bank stress testsread more »

Close Failing Banks Before They Cost US Billions Of Dollars, Says Study

21 Jun 2017 | Business

Billions of dollars could be saved if Congress revises a law to allow regulators to be more aggressive in reducing losses from insolvent banks, according to a recent study co-authored by a faculty member from Florida Atlantic University's College of Business.read more »

Agencies release list of distressed or underserved nonmetropolitan middle-income geographies

21 Jun 2017 | Business

Agencies release list of distressed or underserved nonmetropolitan middle-income geographiesread more »

Agencies issue host state loan-to-deposit ratios

21 Jun 2017 | Business

Agencies issue host state loan-to-deposit ratiosread more »

Advocate Health Care Named Title Sponsor of International Chicago 5K

21 Jun 2017 | Business

The International Chicago 5K announced today that Advocate Health Care is the title sponsor of its second annual event. The Advocate Health Care International Chicago 5K invites runners from around the world to celebrate Chicago’s global and cultural diversity during Bank of America Chicago Marathon race weekend on Saturday, October 7, 2017.

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Federal Reserve Board announces termination of enforcement action with JP Morgan Chase & Co.

20 Jun 2017 | Business

Federal Reserve Board announces termination of enforcement action with JP Morgan Chase & Co.read more »

Bank of America Names Jeff Adams Market President for Rochester

20 Jun 2017 | Business

Bank of America today announced that Jeff Adams will succeed John Pitton as market president, serving as the company’s enterprise leader in Rochester effective July 1. After serving eight years as market president, Pitton will focus full-time on serving U.S. Trust client needs.

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Z1: Enhanced Financial Accounts projects updated

16 Jun 2017 | Business

The most recent data are available online at https://www.federalreserve.gov/apps/fof/efa/enhanced-financial-accounts.htm. A new project, Equity Issuance and Retirement, provides additional detail on the equity Issuance and retirement activity of domestic nonfinancial corporations, with quarterly frequency data through 2017:Q1 and monthly frequency data through March 2017. Other existing projects with updated data are indicated on the main page. All projects now include data dictionary text files with additional descriptive information to accompany CSV data files.read more »

Gordon Werkema to retire as Federal Reserve’s payments strategy director

16 Jun 2017 | Business

Gordon Werkema to retire as Federal Reserve’s payments strategy directorread more »

Mortgage Rates Hovering At 7-Month Lows

16 Jun 2017 | U.S. News

Mortgage rates were little changed this week, as the benchmark 30-year fixed mortgage rate inched lower and remains at the lowest level in seven months according to Bankrate.com's weekly national survey. read more »

G17: G.17 Data for May 2017 are now available

15 Jun 2017 | Business

Industrial production and capacity utilization data for May 2017 are now available.Industrial production was unchanged in May following a large increase in April and smaller increases in February and March. Manufacturing output declined 0.4 percent in May; the index is little changed, on net, since February. The indexes for mining and utilities posted gains of 1.6 percent and 0.4 percent, respectively, in May. At 105.0 percent of its 2012 average, total industrial production in May was 2.2 percent above its year-earlier level. Capacity utilization for the industrial sector edged down 0.1 percentage point in May to 76.6 percent, a rate that is 3.3 percentage points below its long-run (1972-2016) average.read more »

Federal Reserve Board approves action by the Boards of Directors of the Federal Reserve Banks of New York, St. Louis, and Minneapolis

15 Jun 2017 | Business

Federal Reserve Board approves action by the Boards of Directors of the Federal Reserve Banks of New York, St. Louis, and Minneapolisread more »

Federal Reserve Board announces termination of enforcement action with Bank of America Corporation

15 Jun 2017 | Business

Federal Reserve Board announces termination of enforcement action with Bank of America Corporationread more »

Bank of America Merrill Lynch Opens Applications for Sixth Returning Talent Programme (Chester)

15 Jun 2017 | Business

Applications are now open for Bank of America Merrill Lynch’s Returning Talent programme in Chester. The programme aims to help people prepare for re-entering the workforce – a former stay-at-home parent or carer, or someone who chose to take a career gap to support a partner serving within the Armed Forces, for example. People who have been out of work for a year or more are invited to apply via the company’s careers site. The application closing date is 31 July.

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Federal Reserve Board and Federal Open Market Committee release economic projections from the June 13-14 FOMC meeting

14 Jun 2017 | Business

Federal Reserve Board and Federal Open Market Committee release economic projections from the June 13-14 FOMC meetingread more »

Federal Reserve issues FOMC statement

14 Jun 2017 | Business

Federal Reserve issues FOMC statementread more »

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