The Federal Home Loan Bank system, one of the few acceptable issuers of CU investments, launched a new long-term offering last week, 30-year global bonds. The 5.50% bonds, due July 15, 2036, were priced at 98.656 to yield 5.593%, or 47 basis points over comparable U.S. Treasuries. The FHLBs sold $1.5-billion of the new bonds, with 86% of the issue sold domestically and the rest internationally.
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The ABA is testing an information-exchange network to allow banks to share their fraud data with each other. Companies including Baselayer are also building solutions.
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Republicans on the House and Senate Small Business committees are accusing the SBA of being irresponsible in granting Funding Circle permission to participate in its flagship loan-guarantee program.
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Strong consumer spending and cross-border activity drove an 8% increase in Visa's total payments volume during the first quarter of the year, although Asia's economic recovery is taking longer than expected.
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Mastercard launches service to fight instant-payment fraud, EU may green-light Apple's NFC-access plan, and more.
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The top five banks and thrifts had combined assets of more than $13 trillion as of December 31, 2023.
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The JPMorgan Chase CEO took aim Tuesday at the proposed Basel III endgame rules, hindrances to mergers and bureaucratic burdens. "I would love to have a more productive relationship with regulators, but I think it takes conversation," Dimon said.
April 24