(Bloomberg) — The Federal Reserve Bank of New York’s plan to conduct additional liquidity operations through the end of the year will provide needed support at a time when funding markets tend to be volatile, though its current framework will limit the effectiveness of the measures. Most Read from Bloomberg The Standing Repo Facility, or … Read more
(Bloomberg) — Oil edged lower in thin pre-holiday trading as the dollar strengthened and Russia’s Druzhba pipeline resumed flows. Most Read from Bloomberg West Texas Intermediate slid 0.3% to settle near $69 a barrel while Brent settled below $73. Both benchmarks pared losses after the close and were trading little changed. Belarus and Hungary are … Read more
By Pete Schroeder WASHINGTON (Reuters) -The U.S. Federal Reserve said on Monday it was considering major changes to its annual bank “stress tests” in light of recent legal developments, including allowing lenders to provide comment on the models it uses, in a major victory for Wall Street banks. The Fed said it may also allow … Read more
By Laila Kearney and Paul Carsten NEW YORK/LONDON (Reuters) -Oil prices rose more than 1% on Tuesday, reversing the prior session’s losses on a brightening short-term outlook tied to the prospect of slightly tightening supplies as trade thinned ahead of the Christmas and Hanukkah holidays. Brent crude futures settled at $73.58, rising 95 cents, or … Read more
By Pete Schroeder (Reuters) -Major banks and business groups sued the Federal Reserve on Tuesday, alleging the U.S. central bank’s annual “stress tests” of Wall Street firms violate the law. The lawsuit filed in U.S. District Court in Columbus, Ohio, claims the Fed’s practice of determining how big banks perform against hypothetical economic turmoil, and … Read more
A recent survey shows small business owners are feeling more optimistic about the economy following the election. The National Federation of Independent Businesses’ Small Business Optimism Index rose by eight points in November to 101.7, its highest reading since June 2021. The Uncertainty Index declined 12 points in November to 98, following October’s pre-election record … Read more
The Federal Reserve may overhaul its annual stress tests for large U.S. banks to reduce the volatility of the results, but also make them more transparent. While the Fed did not offer specifics beyond general processes it’s considering, it did say in a statement the goal was not to “materially affect overall capital levels.” “The … Read more
(Bloomberg Law) — The Federal Reserve doesn’t allow for appropriate public input when designing bank stress tests, bank trade groups said in a lawsuit seeking to force the central bank to open the design of the tests to public comment. Most Read from Bloomberg The suit, filed Tuesday in the US District Court for the … Read more
(Bloomberg) — Bank of Thailand expects inflation to stay within the 1% to 3% target range in the next two years, Governor Sethaput Suthiwartnarueput said, describing the band as appropriate and supportive of the nation’s growth potential. Most Read from Bloomberg The central bank chief said the inflation target, which has been kept for a … Read more
WASHINGTON (AP) — The number of Americans applying for unemployment benefits held steady last week, though continuing claims rose to the highest level in three years. Jobless claim applications ticked down by 1,000 to 219,000 for the week of Dec. 21, the Labor Department reported Thursday. That’s fewer than the 223,000 analysts forecast. Continuing claims, … Read more