Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
Inside Washington (10/16/2009)
* WASHINGTON (10/19/09)--Sen. Richard Shelby (R-Ala.) said he would push to revise the Federal Reserve Act so bankers would not be able to choose their own regulators. Doing so is “unhealthy” and is a conflict of interest, Shelby told CNBC in a Thursday interview (American Banker Oct. 16). Directors of regional banks are split into three classes: A, B and C. Class A and B directors are chosen by their member banks, while C directors are selected by the Federal Reserve ... * WASHINGTON (10/19/09)--Interest in the Federal Reserve board’s liquidity programs is dropping. On Wednesday, the number of loans the Fed provided to depository institutions through its Asset-Backed Commercial Paper Money Market Fund Liquidity Facility (AMLF) dropped to zero (American Banker Oct. 16 and News Now Dec. 3). AMLF is a lending facility that provides funding to U.S. depository institutions and bank holding companies to finance their purchases of high-quality asset-backed commercial paper from money market mutual funds. The program is intended to assist money funds that hold such paper in meeting demands for redemptions by investors and to foster liquidity in the market, according to the Federal Reserve. No new credit extensions will be made after Feb. 1. In a related item, lending through the Fed’s discount window also grew less than half of 1% during the past week, and traditional borrowing by commercial banks fell 4.7% to $27.2 billion ...


RSS





print
News Now LiveWire
#Consumersentiment highest in 11 years @Umich January survey http://t.co/64ORm6b0Fc
21 minutes ago
#creditunions teach #college students how to handle the plastic http://t.co/SYy24PSQmn
58 minutes ago
How you might change how you bank in 2015 @Bankrate http://t.co/wRhQsyTvul
1 hour ago
#NewsNow Ohio, Ga. video: Merchants not watching your wallet http://t.co/7jc7rECKSF
1 hour ago
What will a viking raid? Town or your wallet? http://t.co/JJYXXAGk7g @OhioCreditUnion @GCUAGov #StoptheDataBreaches http://t.co/7jc7rECKSF
2 hours ago