NYCB lays out revised strategy while warning of more near-term pain
The embattled Long Island bank unveiled a turnaround plan that involves selling non-core assets and diversifying its commercial loan book. But first, it will need to sort through credit-related challenges in its large commercial real estate portfolio.
Fed to start slowing balance sheet wind down in June
During this week’s Federal Open Market Committee meeting, officials voted to lower the cap on the amount of Treasury securities that can roll off the central bank’s books each month from $60 billion to $25 billion.
Republicans zero in on bank merger policy in new push
House Republicans held a subcommittee hearing on reforming bank merger M&A, laying the groundwork to countermove against Biden administration efforts to make it more difficult for mergers to be approved.
Mastercard poised to start processing payments locally in China
Bolstered by healthy first-quarter global card-spending trends, Mastercard is focusing on opportunities outside the U.S., including a unique card-processing arrangement beginning this month in China.
Biden orders spy agencies to share more cyber-threat intel with banks
A new policy directive aims to fortify critical infrastructure by enhancing collaboration between U.S. intelligence agencies and systemically important financial entities.
Senators propose national database of AI security vulnerabilities
Mark Warren and Thom Tillis have introduced the Secure Artificial Intelligence Act of 2024 to address the unique risks of AI.
15 most recent bank failures
Fifteen banks have failed since 2017, with the most recent one collapsing on April 26, 2024.
FHLB officials concerned about supervisory implementation of FHFA report
Top Federal Home Loan bank officials said they fear the Federal Housing Finance Agency will use supervision to further the goals of last year’s report recommending reforms to the Home Loan Bank System.
Buyouts of delinquent commercial real estate CLO loans jump 210% as multifamily landlords struggle
CRE CLO issuance surged to $45 billion in 2021, a 137% increase from two years earlier, when buyers of apartment blocks sought to profit from the wave of workers moving to the Sun Belt from big cities.
Houston-area credit union buying bank to expand in energy lending
Texas Dow Employees Credit Union has agreed to acquire Sabine State Bank and Trust in Louisiana to raise its profile in the oil-and-gas industry. The deal coincides with record levels of U.S. drilling this year.