Jump to navigation
December 01, 2008
Hard Times for the Industry
Financial weakness is spreading from the biggest banks to smaller community institutions, the FDIC reported.
FDIC Modifies TLGP
The FDIC has approved a number of significant changes to its Temporary Liquidity Guarantee Program (TLGP), which the agency had enacted just last month. The program seeks to correct disruptions in the credit market, and particularly in the interbank lending market, which reduces banks’ liquidity and impaired their ability to lend.
Fed, Treasury Unveil Two More Programs
In coordinated actions, the Treasury and Federal Reserve Board have created two new lending facilities to deal with the continuing economic crisis.
ABA Urges Mark-to-Market Reforms
The ABA has urged quick action to correct problems caused by mark-to-market accounting.
Briefs, December 1 — 5, 2008
Quote of the Week, December 1 — 5, 2008
November 24, 2008
Congress Members Critical of TARP Implementation
Lawmakers at a recent oversight hearing expressed increasing frustration over Treasury’s refusal to use any part of the $700 billion bailout package to directly stem foreclosures.
Treasury Opens CPP to Private Banks
The Treasury released the term sheet for applications to its Capital Purchase Program certain privately held financial institutions.
HUD Modifies “HOPE for Homeowners” Program
HOPE for Homeowners has been amended to attract more participants.
Fed Sees Dire Economic Conditions Ahead
The Fed dramatically lowered its projections for economic activity and said further cuts from the 1.0 percent federal funds rate could be in the offing.
Senators Seek TARP Relief for Small Businesses
Three Senators have urged Treasury Secretary Henry Paulson to purchase government-backed small business loans through TARP.
Fed, Treasury Adopt Internet Gambling Rule
Financial institutions must adopt means to detect Internet gambling payments.
Briefs, November 24 — 28, 2008
- Credit Union Charter
- Appraisal Guidelines
- Season’s Greetings
- Stored Value Cards
Quotes of the Week, November 24 — 28, 2008
November 17, 2008
TARP Redirected to Support Consumer Spending
Implementing a plan he had hatched in secret, Treasury Secretary Henry Paulson, Jr. abruptly shifted the $700 billion Troubled Assets Relief Program toward supporting consumer spending and providing capital for nonbank lenders.
Fannie, Freddie Announce New Mortgage Aid Program
Fannie Mae and Freddie Mac announced a new program to help homeowners threatened with foreclosure.
Regulators Urge Banks to Loan
Federal bank regulators issued an interagency statement on November 12 emphasizing the need for all banking institutions to continue lending to creditworthy borrowers.
OCC Rejects Easing Write-Off Rules for Credit Cards
The nixed a plan to allow big credit card banks would to forgive a portion of the principle owed without taking an immediate write-down.
HUD Rewrites RESPA Rules
After a long, controversial rulemaking process, HUD unveiled revised rules implementing RESPA.
Briefs, November 17 — 21, 2007
Quote of the Week, November 17 — 21, 2007
November 10, 2008
CPP Cash: Can You Use It For?
Some officials say you can use CPP funds for mergers. More officials say you shouldn’t.
Treasury Adds CCP Forms, Promises Help for Private Banks
The Treasury released forms to help publicly traded banks to sign up for CPP money. At the same time, it promised it would shortly provide forms and rules for privately owned institutions.
Banks Tighten Credit Terms
Despite strong urging from the government to lend, banks continued their dramatic tightening of underwriting standards for businesses and consumers over the past three months.
Fed Adjusts Rates for Interest on Reserves
The Federal Reserve Board on Nov. 5 announced that it would alter the formulas used to determine the interest rates paid to depository institutions on required reserve balances and excess reserve balances.
