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Fewer U.S. banks tightened lending standards for companies and consumers in the third quarter as the economy grew for the first time in more than a year, a Federal Reserve survey showed.
GMAC Inc. is expected to get more federal money so it can meet government requirements in case the economy softens, the Federal Reserve indicated Monday. The bank holding company, which provides financing for General Motors and Chrysler vehicles and dealerships, is in negotiations with the U.S. Treasury to get additional money from the $700-billion TARP fund.
Nov. 9 (Bloomberg) -- American International Group Inc. , the insurer bailed out by the U.S., will be able to repay its Federal Reserve credit line and “much or all” of the Treasury Department’s investment if financial markets stabilize, Moody’s Investors Service said today.
Federal Reserve Says Stressed Banks Are On Track
The Federal Reserve provided an update on its stress tests, saying nine of the 10 bank holding companies flagged as needing more Tier 1 capital had secured it.
Remarks from several Federal Reserve members will dominate Tuesday's session.
If the economy is getting stronger, why is the dollar getting weaker? As the stock market surged anew on Monday and into Tuesday, and the price of gold marched ever higher, the dollar took its biggest tumble since July, The New York Times’s Javier C. Hernandez reported.
The Federal Reserve said Monday that GMAC is the only one of 19 stress-tested banks that needs more capital to withstand losses if the economy softens.
Nov. 10 (Bloomberg) -- Senator Christopher Dodd will propose creating a single U.S. regulator that would strip the Federal Reserve and Federal Deposit Insurance Corp. of bank- supervision authority, said a person familiar with the matter.
GMAC, the former finance arm of General Motors, needs more capital to meet buffer requirements under the "stress tests" of banking groups conducted this year, the Federal Reserve said Monday.
Fewer banks tightened their lending standards for companies and consumers in the third quarter as the economy grew for the first time in more than a year, a Federal Reserve survey showed, according to Bloomberg News.
Nov. 10 (Bloomberg) -- Federal Reserve Governor Daniel Tarullo said proposals to separate trading from deposit taking and lending at the biggest banks probably wouldn’t dispel the perception that some firms are too big to fail.
Nov. 10 (Bloomberg) -- American International Group Inc. , the insurer bailed out by the U.S., will be able to repay its Federal Reserve credit line and “much or all” of the Treasury Department’s investment if financial markets stabilize, Moody’s Investors Service said.
Nov. 10 (Bloomberg) -- The Federal Reserve said U.S. banks kept tightening lending standards for companies and consumers last quarter, reinforcing the central bank’s decision to leave its benchmark interest rates at record lows for a long time.
Senate Banking Committee Chairman Christopher Dodd will unveil long-awaited draft legislation on financial regulation reform on Tuesday, his office said on Monday.
Banks expect to tighten terms on credit cards in response to a new law that aims to protect consumers from sudden rate hikes, the Federal Reserve said Monday.
