Fed’s Powell: Business Debt Troubling, But No Subprime Crisis

According to Reuters, Federal Reserve Chairman Jerome Powell expressed concern over the rise of business debt in the last few years, but did not believe comparisons to the decade-old subprime mortgage crisis were entirely warranted.

First Midwest Receives Fed Approval for Bridgeview Bancorp Acquisition

First Midwest Bancorp, the parent company of First Midwest Bank, received approval from the Federal Reserve to acquire Bridgeview Bancorp and its wholly owned subsidiary, Bridgeview Bank Group.

Fed Raises Interest Rates in Response to Strong Economy

The Federal Reserve raised the target range for the federal funds rate to 2% to 2-1/4% in view of realized and expected labor market conditions and inflation.

Fed Lifts Flagstar Bank Supervisory Agreement

The Federal Reserve lifted its supervisory agreement with Flagstar Bancorp as of August 14, 2018.

Wells Fargo Risk Exec Departs After Fed Slaps Bank Again

The Wall Street Journal reported Wells Fargo Chief Operational Risk Officer Mark D’Arcy is leaving after an 18-month tenure following a Federal enforcement action against the bank.

Fed Survey: Loan Officers Easing Standards on C&I Loans

Respondents to the Federal Reserve’s July 2018 Senior Loan Officer Opinion Survey on Bank Lending Practices indicated officers eased their standards and terms on C&I loans to firms of all sizes.

Fed: Largest Banks ‘Strongly Capitalized’, Pass Stress Tests

According to the Fed, the nation’s largest banks are strongly capitalized and would be able to lend to households and businesses during a severe global recession.

Fed Approves Rule to Prevent Risk Concentration Between Large Banks

The Federal Reserve Board approved a rule to prevent concentrations of risk between large banking organizations and their counterparties from undermining financial stability.

Fed Raises Interest Rate; More Increases to Come

Bloomberg reported that the Federal Reserve increased the benchmark interest rate by a quarter percentage point; a move designed to slow inflation.

Fed Asks for Comments on Relaxing Volcker Rule

The Federal Reserve Board asked for comment on a proposed rule to simplify and tailor compliance requirements relating to the “Volcker rule.”