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The BSBY interest rate benchmark was originally envisioned as a successor to the once-ubiquitous Libor rate. But it failed to gain much traction, and Bloomberg now plans to shut it down next year.
November 27 -
Texas Attorney General Ken Paxton's office said it's reviewing whether 10 financial companies, including Bank of America and JPMorgan Chase, violate a state law that punishes firms for restricting their work with the oil-and-gas industry because of climate-change concerns.
October 18 -
The Federal Reserve said that banks reported tighter standards and continued weak demand for loans in the second quarter, extending a trend that began before recent stresses in the banking sector emerged.
July 31 -
The bank hasn't managed debt sales in Texas since a measure took effect in 2021 that bars governmental entities from working with companies that "discriminate" against firearms businesses. BofA's "current risk-based framework and policies" can comply with that law, a lawyer for the bank has told the state.
June 27 -
Nonbanks had worried the end of the Paycheck Protection Program Liquidity Facility would hurt their ability to lend to small businesses. On Monday, the Federal Reserve announced the facility would be extended for three months.
March 8 -
The Federal Reserve warned of significant risks of business bankruptcies and steep drops in commercial real estate prices in a report published on Friday.
February 19 -
Congress should pass legislation that would allow Home Loan banks to backstop deposits by local governments at commercial banks and lower the cost of bond financing, two mayors argue.
September 16City of Miami -
The central bank will increase support for credit issued through the Main Street Lending Program while providing midsize firms with more flexibility on the amounts they receive.
June 8 -
The central bank is creating a facility to provide financing to banks participating in the Small Business Administration’s Paycheck Protection Program.
April 6 -
The issuance limit on tax-exempt private activity bonds for Industrial Development Bonds would be raised to $30 million from the current $10 million while the limitation for first-time farmers using so-called Aggie Bonds would be raised to $552,500 from $450,000.
December 19