Banking & Lending
In Interview, Powell Confirms Three Rate Cuts Likely
Chair Jerome Powell said in an interview broadcast Feb. 4 that the Federal Reserve remains on track to cut interest rates three times this year, a move that’s expected to begin as early as May.
Former Boston Fed Head Cleared in Ethics Inquiry
The Federal Reserve’s inspector general has concluded that financial trades made several years ago by former Federal Reserve Bank of Boston President Eric Rosengren did not violate any laws or ethics rules.
Eastern Bank to Close on Merger in Q2
When complete, Eastern’s acquisition of Cambridge Trust will give it eight new branches in New Hampshire in addition to the six that it already has in-state.
Northeast Bankers Pessimistic Even as Forecast Offers Positivity
A new survey shows lenders appear to be feeling better about the economy, and a new forecast offers signs of green shoots, but the region still lags the rest of the country in its view of the coming year.
Fannie Mae Predicts Mortgage Rates Below 6 Percent
Economists at government-owned mortgage-buying giant Fannie May say they think residential mortgage rates might drop below 6 percent this year, sometimes seen as a critical horizon to get home sellers back on the market.
J.D. Power: National Banks’ Deposits Vulnerable to Higher-Rate Offers
Customer satisfaction with national banks slightly improved this year, but a J.D. Power study found that depositors are attracted to higher interest rates at investment or wealth management and digital-only banks.
Boston Fed Upgrades Public Records Policy After Transparency Pressure
The Federal Reserve Bank of Boston and its 11 fellow regional Federal Reserve banks released a common public records policy this week following pressure from Congress to be more transparent.
Study Flags Big Value Declines at Mortgaged U.S. Office Properties
A recent academic paper published by the National Bureau of Economic Research suggests that nearly half of all mortgages secured by American commercial office properties are in trouble, raising questions about financial risks at some of the nation’s banks.
Megabank CEOs Warn New Regulations Could Harm the Economy
The heads of Wall Street’s biggest banks used an appearance on Capitol Hill on Dec. 6 to plead with senators to stop the Biden administration’s proposed changes to how banks are regulated.
NH Banks See Small Rise in Assets, Troubled Loans
Assets held by New Hampshire’s banks were up 6.43 percent in the third quarter on a year-over-year basis, according to new data from the Federal Deposit Insurance Corp.
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