ARLINGTON, Va. - (05/17/05) -- Decision-making for setting rates onloans and shares, once the sole purview of the board of directors,is increasingly being taken over by management, according to a newNAFCU survey. Less than a third of credit unions surveyed, just28%, said their boards alone continue to set rates for loans andshares. Of the remaining credit union surveyed, the majority, or62%, said the CEO sets the rates, 18% said their asset/liabilitymanagement committee sets the rates, 12% said senior managementdoes, and the remaining 8% said various committees contribute tothe rate-setting. The survey found that 47% of respondents settheir regular share rates based on local market conditions; while31% base theirs on the Fed Funds rate; 6% set theirs to thethree-month Treasury yield; while another 6% set theirs based onearnings goals. NAFCU's monthly Flash Report also found that 38% ofrespondents set their money market share rates based on marketconditions; while 29% set theirs based on the Fed Funds rate; and15% set them based on the three-month Treasury yield.
-
While banks will likely increase near-term dividend plans, analysts and investors are more focused on the long-term outlook for capital requirements from regulators.
2h ago -
The Missouri bank surveyed consumers about what kind of financial management tools they use, then built its My Finance360 tool in response.
4h ago -
GodFather malware mimics and manipulates real financial apps on Android devices, exposing sensitive data without user suspicion.
5h ago -
As banks consider their strategies, other big names are also considering a role for digital assets.
6h ago -
The Financial Technology Association — which had been granted the right to defend the Consumer Financial Protection Bureau's open banking rule after the bureau declined to defend it — filed a motion Sunday to preserve the rule.
7h ago -
Kevin Fromer, who has headed the Financial Services Forum since 2017, announced his departure Monday. Fromer transformed the Financial Services Forum to advance the interests of the largest U.S. banks.
9h ago