John Heltman has covered the Federal Reserve and Treasury Department for American Banker since 2014. Prior to joining American Banker, he covered derivatives markets and the Commodity Futures Trading Commission for Argus Media, and prior to that covered the Environmental Protection Agency for Inside Washington Publishers. He is a 2005 graduate of St. Mary's College of Maryland.
The Congressional Budget Office said only community banks would choose to hold higher capital in return for fewer rules while lowering its estimate of cost savings of eliminating new FDIC resolution powers.
In an extensive interview, Philadelphia Fed President Patrick Harker talks about the challenges facing community banks, the biggest threat to the financial system and the possibility of interest rate hikes later this year.