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With the Federal Reserve touting a slower pace of easing, markets are expecting a longer pause. But Gov. Christopher Waller said the next interest rate reduction could come as soon as March because of inflation data.

The issuance marks the first time a multilateral climate fund is turning to the capital markets, as cash-strapped developed nations balk at providing the funds needed to cut greenhouse gas emissions.

The $4 trillion-asset bank posted its highest-ever annual profit but also said its CEO succession plan is still in the works.

The largest U.S. bank by assets has elevated Jennifer Piepszak to chief operating officer, in preparation for Daniel Pinto's retirement in 2026. But Piepszak is not interested in being CEO, the company said.

Fitch Rating says it noticed a greater preference for consumers to use cellphones for a longer period and previously decreased the assumptions for upgrade losses to 0.25%, from 0.35%.

In a speech outlining his priorities for the FDIC, Vice Chair Travis Hill stressed the need for a more flexible regulatory approach, addressing capital requirements, digital assets, climate policy, and bank oversight, while emphasizing transparency and timely action.

In both scenarios of the 2025-1 series, the capital structure will issue notes through about eight tranches, including an overcollateralization piece representing 5.15% of the pool balance.

Seen by many as a logical pick for the Federal Reserve's next vice chair for supervision, Gov. Michelle Bowman wants the institution to focus on safety and soundness issues, tailoring and transparency.

Classes A through E, do not allow for payment-in-kind, which allows borrowers to use assets other than cash—such as equity or shares—to make interest payments.

The senior certificates get credit protection from a specified lockout period, when the subordinate classes will receive no unscheduled principal payments from the collateral mortgages.

The Consumer Financial Protection Bureau said it would undertake a rule to regulate large participants in the personal loan market and consider a joint rulemaking with the Federal Reserve on check and ATM hold times.

Structurally, the GSAR 2025-1 transaction has 22.5% in subordination for the class A notes, down from 22.8% seen on the GSAR 2024-4 deal, and pre-pricing excess spread fell to about 7.8% of the outstanding balance, from 8.9%.

The bank has promoted Steve Baker to global head of CLO primary. George Blair will become head of US CLO structuring.

The banking giant's exit from the global Net-Zero Banking Alliance leaves just three smaller U.S. banks in the group. Climate activists called large banks' departures a capitulation to Republicans' climate denialism.

The auto ABS deal can be upsized to $1.5 billion, and most of the notes benefit from credit enhancement equaling 6.10% on most of the notes.

Despite shifts in work habits after COVID-19, the office building was 93.8% leased at the start of the month.

The manufactured home loan lender, a unit of Berkshire Hathaway subsidiary Clayton Homes, was accused of ignoring red flags that sent many borrowers into bankruptcy, default and ultimately out of their homes.

Alternative income documentation underwriting accounted for 61.9% of the collateral, compared with 55.2% of the underlying loans in the previous deal.

The Federal Reserve Bank of Richmond president said while he believes the central bank's current level of rates is restraining the economy enough to continue lowering inflation in 2025, there are still upside risks to inflation and growth.

Freddie Mac shares rose to $4.14 at 12:30 p.m. in New York Friday, Fannie Mae's stock climbed to about $4.23, each up 22% from the previous day's close.