The Federal Deposit Insurance Corp. said Friday that it has taken over The National Republic Bank of Chicago, based in Chicago. State Bank of Texas, based in Dallas, has agreed to buy about $626.1 million of the failed bank's assets and assume all of National Republic Bank's deposits. National Republic Bank is the fifth FDIC- insured institution to fail in...
WASHINGTON, Oct 21- The U.S. Federal Deposit Insurance Corp unveiled a final rule on Tuesday that requires banks to retain at least 5 percent of the risk on their books when they bundle loans, securitize them and sell them to investors. The rule, expected to be adopted by the FDIC later on Tuesday, aims to prevent a repeat of the 2007-2009 financial crisis, when banks'...
WASHINGTON— Buying a home may have gotten a little easier this week. With the financial crisis and subprime mortgage bust receding further into history, the government is loosening some financial rules, hoping to inject more life into the country's still-recovering housing market. The board of the Federal Deposit Insurance Corp. voted 4-1 Tuesday to adopt...
The Federal Deposit Insurance Corp. said Friday that it has taken over NBRS Financial Bank of Rising Sun, Maryland. Howard Bank of Ellicott City, Maryland, has agreed to pay the FDIC a premium of 1.19 percent to assume all of the failed bank's deposits. Depositors of NBRS Financial will automatically become depositors of Howard Bank, the FDIC said.
WASHINGTON, Oct 15- The U.S. The Fed said it will meet on Oct. 22 to adopt the final version of the credit risk retention rule, a requirement of the 2010 Dodd-Frank law to reform Wall Street. The rule must also be adopted by the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Securities and Exchange Commission, the Department of...
Simon Johnson, economist and professor at Massachusetts Institute of Technology told a panel held on Sunday by the International Monetary Fund. "Where are the documents mandated by Congress that are supposed to show how we will handle the failure of a large global complex interconnected bank? In August the Federal Reserve and Federal Deposit Insurance Corp....
WASHINGTON, Sept 3- The U.S. Federal Reserve on Wednesday voted to adopt final rules requiring big banks to hold more assets that they could sell easily in a credit crunch. The Federal Deposit Insurance Corp also plans to vote on the final rules on Wednesday.
The lawsuit, filed against the Federal Reserve, the Federal Deposit Insurance Corp and the Office of the Comptroller of the Currency, comes days after U.S. prosecutors opened criminal and civil probes into at least 15 banks and payment processors as part of a wide-ranging consumer fraud investigation.
Thomas Hoenig, vice chairman of the Federal Deposit Insurance Corp, made the comments after Bank of America announced earlier this week that it would have to re-do its test results after discovering a calculation error that led it to overstate its capital levels by about $4 billion.
CNBC's Mary Thompson reports Bank of America, Citi Group, and JPMorgan Chase are among 16 big banks being sued by FDIC for manipulating the LIBOR benchmark interest rate.
Despite downgrades and fiscal woes, now could be the time for investors to get in on Puerto Rico, says YPO member Francisco De Armas.
A provision prohibiting banks from keeping investments in CDOs backed by hybrid securities called trust preferreds ignited a controversy.
CNBC's Eamon Javers breaks down the 5 key exemptions of the Volcker Rule, including underwriting and risk mitigated hedging.
Discussing the Volcker Rule and the improvements made to make the legislation stronger, with CNBC's Rick Santelli and Sheila Bair, former chair of the FDIC.
CNBC's Eamon Javers details the five key exemptions under the Volcker Rule. Regulators from the FDIC and Federal Reserve are expected to vote to approve the legislation which would ban banks from proprietary trading.
The President is nominating top Treasury Department official Timothy Massad as head of CFTC, the agency that regulates the futures and options market.
Bank lending is on the rise. The little guy on Main Street is not feeling it, though, so many entrepreneurs are turning to alternative funding sources.
CNBC's Hampton Pearson has the latest numbers on bank earnings.
The big banks should not be allowed to dip into FDIC-insured deposits to engage in risky trading activities, Sen. Elizabeth Warren, D-Mass., said on CNBC Friday, as she pushed for a new, modern-day bank breakup bill.
The FDIC, OCC and the Fed jointly proposed new rules on bank borrowing that could hamper lending. The new rules will make the biggest banks fund 5 percent of their assets.