BankThink
The Japan-linked risk for banks is not the exchange rate itself but the funding, collateral and rollover pressure behind it. Sudden volatility in the foreign exchange market will rapidly cascade into U.S. Treasury markets.
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Jerome Powell isn't Fed chair anymore, but he's staying on the board, which might be uncomfortable for his successor.
April 30
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Community banks' primary objection to the Main Street Depositor Protection Act appears to be that one provision of it would give credit union customers the same level of deposit protection as bank customers.
April 29
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Banks have a narrow window to shape how agent identity verification works before transaction volumes force ad hoc approaches that will be harder to standardize later.
April 29
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Presumptive Fed Chair Warsh isn't a fan of jawboning, but that is actually, exactly how the central bank gets its point across.
April 29American Banker
Rodney Hood, former acting Comptroller of the Currency and former chair of the National Credit Union Administration, says the credit scoring system is broken and AI can fix it.
Bankruptcy filings rose 11.9% during the past 12 months, according to statistics from the Administrative Office of the U.S. Courts; JPMorganChase named Jerry Lee and Nick Richitt as global co-heads of health care investment banking; Goldman Sachs appointed Akila Raman as global head of its private and alternatives capital markets business; and more in this week's banking news roundup.
The Treasury Department terminated the lease for the Consumer Financial Protection Bureau's Washington, D.C., headquarters; HSBC's Gerry Keefe, head of banking in Europe and the Americas, quit to take a role outside of the financial services industry; Deutsche Bank has reported potential sanctions breaches involving Russian clients to German financial regulator Bundesbank; and more in this week's banking news roundup.
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