WASHINGTON - (12/14/05) As many had expected, The FederalReserve boosted the federal funds rate by 25 basis points to 4.25%,its highest point since March of 2001. It marked the 13thconsecutive meeting at which the Fed has pushed rates up. Someanalysts, in reviewing policy statements released by the Fed,believe the Fed may be near the end of its plans to increase rates,but others are predicting several more increases may be in store.The meeting was the second-to-the-last for Fed Chairman AlanGreenspan, who will be succeeded at the end of January, 2006, byBen Bernanke.
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At a time of mild or nonexistent loan growth, middle-market borrowers in the Lone Star State are providing a boost to Fifth Third Bancorp and Huntington Bancshares.
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New details have emerged about the negotiations that culminated in Capital One's blockbuster $35 billion agreement to acquire Discover. At one point last December, the two parties broke off discussions, according to a securities filing.
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According to the Federal Reserve Board's latest financial stability report, persistent inflation and policy uncertainty are the primary worries for banks. Survey respondents expressed heightened anxiety over murky policy outlooks due to geopolitical turmoil and rapidly approaching domestic elections.
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The Alabama regional lender says it expects expenses to taper off this year and anticipates challenged loans will gradually rise to historically average levels.
April 19 -
Truist Financial's top executive leadership team announces departures; First Horizon's chief credit officer is retiring; Ferry teams with Highnote to roll out a new Visa-branded payroll card; and more in the weekly banking news roundup.
April 19 -
The Dallas-based regional bank tapped a client for its co-pilot capabilities, where employees can message a bot instead of a human to get tech assistance.
April 19