Washington

Data will determine if and how high the Federal Open Market Committee will raise rates, according to Federal Reserve Bank of Richmond President Tom Barkin.

The Trump administration’s effort to publish a proposed rule comes just over two months after the IRS announced May 23 it was working on the regulations to enforce the $10,000 cap on what previously was an unlimited personal deduction of state and local taxes, also known as SALT.

Underwriters and issuers agree that G-17 disclosures have become boilerplate and excessive, but diverge on whether a complete opt-out should be allowed.

Newly issued Treasury securities held in stripped form increased about $1.584 billion in July.

The central bank's survey of loan officers said banks are easing their credit standards for commercial and industrial loans as competition heats up.

The legislation would require local governments in Michigan to sell most bond issues competitively with seven-days public notice.

The Municipal Securities Rulemaking Board has selected two individuals representing the public and three from regulated entities from 80 applicants to become part of its 21-member board on Oct. 1.

Federal Reserve officials left the benchmark interest rate unchanged while reiterating their plan to gradually lift borrowing costs to keep the economy expanding at a healthy pace.

While the ruling wasn't a total victory for Wells Fargo or banker Peter Cannava, the court's decision grants them three more months of preparation in their fight against the SEC.

The report card touts the MSRB's accomplishments, though that doesn't sit well with some market participants.