by Ken Chase | Jun 17, 2023 | News
The Federal Reserve this week declined to continue its recent strategy of interest rate increases. That news comes on the heels of reports that inflation growth cooled to 4% in May. Last June, prices were rising at a 9% pace. The most recent month’s inflation rate is...
by Ken Chase | Jun 15, 2023 | Banks, News
Swiss bank UBS announced today that it has finalized its emergency acquisition of rival Credit Suisse. In a June 12 press release, UBS confirmed that it has merged Credit Suisse Group AG into UBS Group AG. In addition, the company noted that the banks will now...
by Ken Chase | Jun 15, 2023 | Banks, News
The number of U.S. bank branches has declined sharply in the last several years, according to a report from the Daily Mail. Citing exclusive S&P Global Market Intelligence data, the UK outlet reports that 9,536 bank branches have closed since 2019. As the Daily...
by Ken Chase | Jun 14, 2023 | Banks, News
This week, U.S regulators published new third-party risk management guidance for banks. The guidance was an interagency product from the Federal Reserve Board (FRB) of Governors, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of...
by Ken Chase | Jun 9, 2023 | Banks, News
Last month, Federal Reserve vice chair for supervision Michael Barr told Congress that new bank capital rules were being formulated. A new report from Reuters cites a source who suggests that those rules could be proposed by the end of June. Those changes may impose...
