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...More US credit card accounts were past due on their payments to the largest banks at the end of 2023 than at any time since 2012, according to data from the Federal Reserve Bank of Philadelphia....
...The US Senate has voted overwhelmingly to confirm Philip Jefferson as vice-chair of the Federal Reserve, the number-two position at the central bank....
...A senior European Central Bank executive has said publishing the interest rate forecasts of its policymakers — similar to the US Federal Reserve’s so-called “dot plot” — could help to address shortfalls...
...In a system comprised of over 4,500 banks, the top 10 already account for 60 per cent of all industry assets. The six largest hold half....
...Federal Reserve board governor Michelle Bowman and Fed vice-chair Philip Jefferson will moderate panels at the event....
...Monetary policy: Federal Reserve chair Jay Powell and vice chair Philip Jefferson will make what are likely to be their last public comments before the US central bank’s next policy meeting on May 2-3....
...Banks are unlikely to offer the same high yield on their savings accounts due to costs of intermediation. Direct debt sales to retail investors will therefore suck out funds from bank accounts....
...accounts....
...A top official at the Federal Reserve has signalled his support for the US central bank to abstain from raising its benchmark policy rate at its upcoming policy meeting in June, but emphasised rate increases...
...Shohei Ohtani’s former interpreter was charged with bank fraud by the US Department of Justice, which accused him of wiring more than $16mn from the Los Angeles Dodgers baseball star’s bank account to pay...
...But you are in the FOMC [Federal Open Market Committee], sitting around the table, you’re saying inflation has come down from the peak in 2022. That’s great. And went down from 9 per cent to roughly 3....
...Here’s what else I’m keeping tabs on today: Monetary policy: Philip Jefferson, the Federal Reserve’s vice chair, as well as governors Lisa Cook and Christopher Waller speak at public events today....
...Joe Biden on Friday officially nominated Philip Jefferson to serve as the next vice-chair of the US central bank in his latest step to reshape the top ranks of the Federal Reserve....
...deposit accounts which would hit banks’ profit margins....
...Fedspeak: US Federal Reserve chair Jay Powell will deliver opening remarks at a conference in Washington hosted by the central bank. Vice-chair Philip Jefferson will give the event’s closing remarks....
...Joe Biden on Friday officially nominated Philip Jefferson to serve as the next vice-chair of the Federal Reserve in his latest step to reshape the top ranks of the US central bank....
...Federal Reserve officials agreed in September that the US central bank should “proceed carefully” on interest rate decisions, while acknowledging that monetary policy should remain restrictive for some time...
...The vice-chair of the Federal Reserve reiterated the need for the US central bank to “proceed carefully” with forthcoming interest rate decisions, emphasising his focus on the recent surge in borrowing costs...
...The US Department of Justice last week charged Mizuhara with bank fraud, describing Ohtani as a victim in the case and alleging that his former interpreter had wired $16mn from Ohtani’s accounts to cover...
...JPMorgan chief financial officer Jeremy Barnum told analysts that customers were moving more money to accounts that offered higher savings rates, eating into the bank’s margins from lending....
...The vice-chair of the Federal Reserve doubled down on the need for the US central bank to “proceed carefully” with forthcoming interest rate decisions, emphasising his focus on the recent surge in borrowing...
...“The ECB will take this into account when deciding to ease policy in June,” he said....
...Between 2000 and 2008, the Federal Deposit Insurance Corporation issued 1,243 new insured commercial bank charters, an average of 138 a year....
...On Wednesday, Bank of Korea governor Rhee Chang-yong said the central bank would intervene to control currency volatility if needed....
...Fed vice-chair Philip Jefferson said on Monday the central bank was in a “sensitive period of risk management” and needed to “proceed carefully” with any rate increases....
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