Covenant Review says a private issuer has gone to market with what is believed to be the first syndicated-loan deal that proposes to adopt the Federal Reserve’s Secured Overnight Funding Rate benchmark under Libor's demise. The proposal falls in line with recent recommendations for banks and issuers by a Fed working committee.

Although Libor will will not be phased out until at least 2021, Randal Quarles said making the switch early is "consistent with prudent risk management."

Although higher corporate debt could hurt the economy, Federal Reserve Chair Jerome Powell argued changes made since the last crisis will guard against a meltdown.

The portion of Americans with a car loan climbed to 35% last year from just 20% in 1999, the New York Fed said in a blog post. Auto loans first overtook mortgages in 2013 and have pulled further ahead every year since.

As the central bank board proceeds with reforms easing the post-crisis regulatory regime, the Obama-appointed governor has not shied from opposing the agency’s course.

The head of the central bank declined to provide more specifics on efforts to simplify the ban on banks’ proprietary trading.

The Federal Reserve’s Alternative Reference Rates Committee on Thursday released recommendations for language to enable contracts linked to the beleaguered Libor rate to work even if the benchmark disappears.

The findings of a new survey suggest that banks risk becoming irrelevant unless they match the speedier processes that are a key selling point for online lenders.

If the United Kingdom leaves the EU without a deal, certain contracts held by U.S. entities and relocated outside the U.K. will not face new margin requirements.

U.S. regulators are poised to scrap their proposal for revising Volcker Rule restrictions on banks' trading in favor of a newer version as they respond to a misstep that drew fire from Wall Street lobbyists, according to people familiar with the effort.

Despite a generally positive picture in the Shared National Credit report, regulators warned that underperforming loans in the portfolio remain elevated.

While the London interbank offered rate won't go dark until 2021, the commercial real estate finance industry should start preparing for the transition now, says the Mortgage Bankers Association.

Slower growth to interest rates and home prices will boost housing affordability in 2019, according to Fannie Mae.

Some in the industry worry the Fed may balk at allowing OCC charter recipients into the payments system, but Otting downplayed those concerns.

An effort to increase awareness of the transition to a new benchmark rate, and nudge banks to start preparing, is expected to intensify in 2019.

They differ slightly from those released earlier by the Fed-convened ARRC, including language making it easier to ditch a SOFR-derived benchmark in favor of a new benchmark that has yet to be developed.

The Office of the Comptroller of the Currency has gotten the ball rolling for financial technology firms trying to operate a national platform, but the FDIC and Federal Reserve should act to remove other policy roadblocks.

The amount of debt owed by businesses and the valuations of corporations are elevated, creating a growing source of concern, the Federal Reserve said Wednesday.

Bank jumbo mortgage underwriting standards weakened in the third quarter by the most in three years and as profitability remains under pressure, loosening should continue at an accelerated pace, a Moody's report said.

While they won’t be in position to enact legislation, House Democrats could use their newfound power to spotlight issues that Republicans have largely ignored, including the exploding levels of corporate debt.