In a recent speech before the Standing Senate Committee on Banking, Commerce and the Economy, Bank of Canada Governor Tiff Macklem discussed the bank's monetary policy and recent policy announcement.
The Federal Deposit Insurance Corporation (FDIC) was appointed as receiver and entered into an agreement with JPMorgan Chase Bank to protect depositors, assume all deposits, and acquire most of First Republic Bank's assets.
Sarah Breeden, executive director for financial stability, strategy and risk with the Bank of England, says that because the financial system and the "real economy" are closely connected, it is important to monitor corporate debt, given its impact on the economy.
Deputy Secretary of the Treasury Wally Adeyemo led a roundtable discussion on April 27 with nearly 40 small climate businesses and nonprofit developers in the clean energy industry to discuss the Low-Income Communities Bonus Credit Program.
The Federal Reserve Bank of Richmond's fourth annual Investing in Rural America Conference, held in Roanoke, focused on collaboration among stakeholders to strengthen small towns and rural communities.
The Dallas Fed reported the Texas service sector saw modest growth in April, while labor market indicators showed a rise in employment and stable workweeks, according to the Texas Service Sector Outlook Survey.
The review found that SVB's management and board of directors failed to manage their risks, and the Federal Reserve's supervisors did not fully appreciate the extent of the bank's vulnerabilities.
U.S. inflation has started to ease, Lisa Cook, a member of the Federal Reserve Board of Governors, said in a keynote address April 21 at the Carroll Round annual International Economics Conference at Georgetown University, according to a news release.
The Financial Stability Oversight Council (FSOC) issued a proposed analytic agenda for financial stability risks to give the public an idea of how it processes threats to financial stability.
The U.S. Treasury Department recently released the 2023 De-risking Strategy, which addresses the phenomenon of financial institutions choosing to end relationships with broad groups of customers instead of analyzing the individual risks associated with those customers, a news release said.
U.S. Rep. Patrick McHenry (R-NC), chair of the Fnancial Services Committee, gave opening remarks at the committee began markup of capital formation and Consumer Financial Protection Bureau (CFPB) reform legislation, according to a news release.