Finance

The head of the U.S. central bank said its emergency credit programs were not designed to prop businesses up over the long term.

A negative Federal Reserve policy rate is still improbable, but if it were to happen it could be a net benefit, according to a note from JPMorgan Chase.

The central bank will disclose information on a monthly basis about its Term Asset-Backed Securities Loan Facility and its Paycheck Protection Program Liquidity Facility.

Rick Thornberry is looking to the lessons from the Great Recession and applying them to current conditions.

The worst recession since the Great Depression is prompting indebted companies to default, and increasingly more will do so in a way that’s harder for investors to detect.

The group that worked with the Fed to devise an alternative rate to Libor rejects criticism that the index favors megabanks.

After ending 2019 on a high note, Ocwen Financial posted an income loss in the first quarter due to the unexpected costs and volatility created by COVID-19.

Three of the four had fewer new notices of delinquency for the quarter, but that should change going forward.

The Federal Reserve also said in a supervisory report released Friday that it would conduct stress tests this quarter as planned, taking into account sudden deterioration in the economy brought on by the coronavirus pandemic.

First, J. Crew. Now Neiman Marcus. Flashing red: J.C. Penney, Hertz and many more. The coronavirus has crushed the life out of some venerable household names.

VW Credit becomes the seventh lender to offer asset-backed bonds since the Federal Reserve announced TALF backing of prime auto ABS notes to support stimulus efforts for the COVID-19 ravaged market.

Many originators stopped making riskier products, including jumbo loans and low credit score offerings, during April.

Small and mid-sized companies are facing higher borrowing costs as private lenders grow more cautious about lending to beaten-up businesses

The government-sponsored enterprises have set new temporary limits on mortgage sales while extending processing flexibilities related to COVID-19.

Goldman Sachs and Morgan Stanley are backing the first commercial mortgage-backed securities activity in two months, through two deals that exclude hotel or department store retail assets that are most exposed to pandemic-related stresses.

Some benefits are materializing from Fannie Mae's pledge to limit servicers' exposure to principal-and-interest advances the way Freddie Mac does, but counterparties of both GSEs remain exposed to other concerns.

Ford Motor Credit has emerged with a new issuance of auto-loan backed securities, joining a select group of prime auto ABS issuers confident in drawing in investors despite a gloomy, pandemic-afflicted outlook for the automotive industry.

Over 236,000 prime and subprime vehicle-loan borrowers received payment deferrals of between 30 and 120 days during the early economic turmoil of the coronavirus pandemic, according to the ratings agency.

Of 900 deals reporting data over the last month, 21% have narrowed or eliminated payments to the equity. Some analysts expect about one in three deals will eventually limit payments to their riskiest securities.

Apollo Global Management Inc. faces the prospect of having to hand back earlier profits from several of its funds as its holdings were hit hard by the economic fallout from the coronavirus pandemic.