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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.
Nov. 10 (Bloomberg) -- U.S. stock futures fell, indicating the Standard & Poor’s 500 Index may retreat for the first time in seven days, after MBIA Inc. and Fluor Corp. reported third- quarter earnings that missed analysts’ estimates.
Nov. 10 (Bloomberg) -- American International Group Inc. ’s consumer lender said it eliminated about 300 jobs and shut 25 branches in the third quarter after the company lost access to its usual sources of funding.
FEDERAL RESERVE GMAC flunks bank stress test The Federal Reserve said Monday that GMAC Inc. is the only one of 19 stress-tested banks that needs more capital to withstand losses if the economy softens. GMAC, a crucial player in the U.S. auto industry, has been unable to raise the $11.5 billion regulators said it needed after stress test results were announced in May. The Fed says the finance ...
The Federal Reserve said nine of 10 bank holding companies deemed short of capital in May have raised their reserves enough to withstand the risk of higher unemployment and slower economic growth. "The one exception, GMAC, is expected to meet its r...
A quick read on business news for Nov. 10, 2009
(RTTNews) - San Francisco Federal Reserve President Janet Yellen said Tuesday that while economic recovery has begun and seems to be "more than a flash in the pan," there are many factors that call into question the durability of the recovery.
Nine of the 10 institutions ordered to raise more capital after this spring's 'stress tests' have reached their goals, the central bank reports. GMAC is said to need up to $5.6 billion more. GMAC is the only major bank that will need additional bailout money after it was unable to raise enough capital on its own, government officials said Monday.
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 Federal Reserve stands to gain substantial new authority under financial reform legislation.
Banks expect to tighten terms on credit cards in response to a new law that aims to protect consumers from sudden rate increases, the Federal Reserve said on Monday.
Nov. 9 (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 as part of an overhaul of financial-industry rules, said a person familiar with the matter.
(RTTNews) - Atlanta Federal Reserve President Dennis Lockhart said Tuesday that the overall objective of economic policy should be to bring about a durable recovery, reduce unemployment and corral inflationary pressures.
Rates mixed The Treasury Department on Monday auctioned $30 billion in three-month bills at a discount rate of 0.065 percent, up from 0.060 percent last week. An additional $31 billion in six-month bills was auctioned at a discount rate of 0.165 percent, down from 0.170 percent. The Federal Reserve said the average yield for one-year Treasury bills fell to 0.36 percent last week from 0.39 ...
WASHINGTON | 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. GMAC, a crucial player in the U.S. auto industry, has been unable to raise the $11.5 billion regulators said it needed after stress test results were announced in May. The Fed says the finance company is expected to close the gap ...
Nov. 10 (Bloomberg) -- Banks are carrying more short-term debt on their balance sheets than at any time in at least 30 years, exposing them to rising borrowing costs that could undermine profits, Moody’s Investors Service said.
