On Wednesday, the Federal Reserve made its third hike to the federal funds rate in 2022, increasing the rate to a range between 1.5% and 1.75%. According to Yahoo Finance, the 0.75 percentage point increase was “the largest move [the Fed] has made in a single meeting since 1994.”
On Wednesday, the Federal Reserve unveiled its plan to raise the federal funds rate to 0.75% to 1%. According to Yahoo Finance, the 0.5% hike was “the most aggressive increase made in a single meeting since May 2000.”
The board of governors of the Federal Reserve and the Office of the Comptroller of the Currency approved Citizens Financial Group’s previously announced acquisition of Investors Bancorp.
On Wednesday, the Federal Reserve unveiled its plan to increase the federal funds rate to 0.25% to 0.5%. According to the Wall Street Journal, the Fed last increased interest rates in 2018.
The Federal Reserve approved the merger of equals transaction between Old National Bancorp and First Midwest Bancorp, following the approval the companies received last year from the Office of the Comptroller of the Currency and stockholders of both companies.
The U.S. economy is moving from a post-reopening boom phase toward a moderating period, which, depending on policy prescription, may end up feeling like a mid-cycle slowdown in the second half of 2022, according to Mitsubishi UFJ Financial Group.
The board of governors of the Federal Reserve provided regulatory approval of the previously proposed merger of Webster Financial and Sterling Bancorp.
WSFS Financial received all required approvals to acquire Bryn Mawr Bank Corporation, the parent company of the Bryn Mawr Trust Company, with the board of governors of the Federal Reserve approving the acquisition.
The board of governors of the Federal Reserve approved the previously proposed merger of First Citizens BancShares, the parent company of First-Citizens Bank & Trust Company, and CIT Group, the parent company of CIT Bank.
With COVID-19 causing a drastic decline in revenues for many businesses, lenders have made a number of accommodations for non-performing loans, particularly through short-term deferrals. However, as the pandemic rages on, Bill Lawrence explains why lenders need to be proactive to avoid risk.