Federal Reserve Chairman Jerome Powell told senators that the central bank is willing to explore a credit-sensitive interest benchmark in addition to the secured overnight financing rate, which some banks say could cause problems during economic stress.

The biggest issuers of bonds tied to the benchmark tapped to replace U.S. dollar Libor are suddenly pulling back, a potential blow to efforts by regulators to wean the financial system off a much-maligned reference rate.

Nonbanks hold a disproportionate percentage of the worst-rated loans, but banks hold a majority of the market, and risk management safeguards are largely untested, according to an interagency report on shared national credit.

In another rollback of the bank trading ban, the federal agencies unveiled a plan to allow financial institutions to invest in multiple companies through certain fund structures.

Regulators already finalized a rollback of the proprietary trading ban section of the rule but signaled then that their overhaul was not finished.

Regulators' oversight of the industry's switch to a new interest rate benchmark is expected to intensify as a key deadline approaches.

Former Fed Chairman Paul Volcker is now synonymous with a provision of the Dodd-Frank law. But his legacy extends well beyond that.

Paul Volcker, the former Federal Reserve chairman who broke the back of U.S. inflation in the 1980s and three decades later led President Barack Obama’s bid to rein in the investment risk-taking of commercial banks, has died.

Alternative data "may improve the speed and accuracy of credit decisions and may help firms evaluate the creditworthiness of consumers," the agencies said.

Unlike previous central bank chiefs, Powell’s chances of being renominated by either the current president or many of the Democratic contenders are slim.

Concerns over banks’ level of preparation have led to worries about disruptions in the lending market, and some financial institutions warn that a new interest rate benchmark could cause lenders to pull back on credit.

Executives sent a letter to the federal banking regulators last month expressing concern that an alternative to the London interbank offered rate could limit credit availability.

The reforms will result in significant changes to the proprietary trading ban first proposed by former Federal Reserve Chairman Paul Volcker and mandated in the Dodd-Frank Act.

Members of the House Financial Services Committee cited leveraged lending, cybersecurity and the switch to a new interest rate benchmark among potential systemic risks that keep them up at night.

The bank started buying more Treasurys and mortgage-backeds over a year ago, long before talk about rate cuts. What did it know that its rivals didn't?

After two regulatory agencies adopted final revisions to the rule, Dodd-Frank defenders expressed concern that the amendments to the proprietary trading ban undermined the post-crisis statute.

Banks stand to enjoy new flexibility in complying with Dodd-Frank’s proprietary trading ban, but it remains to be seen if regulators will grant them all the relief they have sought.

Borrower debt continues to rise, late payments are up and interest rates are at their highest levels since at least 1994. A new report raises questions about the sustainability of the card industry's boom.

Fresh data from the Fed, FDIC and Bank of England shows that, directly or indirectly, banks are taking on more leveraged loans. But whether this puts their loan and securities portfolios at risk remains open for debate.

Moody’s said the Fed’s cuts – the first in a decade by the central bank – will boost real estate and consumer ABS collateral by helping lenders uphold underwriting standards and provide affordable debt options to borrowers.