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Republicans, many whom opposed giving the IRS the extra money, have said it's using the funding to hire an additional 87,000 auditors to target middle-class households.

Some 853 residential mortgages comprise the underlying collateral pool, and they have relatively low original loan-to-value (LTV) ratios, of about 67.7%.

Corporations are navigating shifting geopolitics, and M&A bankers are advising them as they consider selling off faraway units and focusing more on assets closer to home or in friendlier countries.

A reasonable person can be forgiven for asking whether an agency with a $13.7 billion budget really doesn't have enough to front some cash.

Eleven of the underlying mortgages are portfolio loans, and others are split loans governed by co-lender agreements, KBRA said, amounting to 38.6% of the pool.

Insurers and Uncle Sam are having trouble footing bills for mounting climate-related risks, particularly in regions prone to hurricanes and wildfires.

The move is the latest development in the ongoing political clash over how involved banks should be in crypto markets. 

Agricultural equipment has a reliable performance track record. The asset class' background, however, appears to be at odds with the it concentration risks.

As tempting as it may be to again choose the easy course of action, the Fed should resist yet another approach that risks keeping the inflation threat alive for longer.

A new bipartisan senate caucus organized around community development financial institutions is just the latest sign that the sector's political influence is reaching new heights.