SAN FRANCISCO - (12/28/04) -- The Federal Home Loan Bank of SanFrancisco said Monday it expects to pay a fourth quarter dividendof 3.89%, pending approval by the regional FHLB's chief regulator,the Federal Housing Finance Board. That's up from the 3.70% payoutfor the third quarter, and about the same as the 3.85% paid out forlast year's fourth quarter. The dividends will be paid on mandatorystock owned by 345 financial institutions, including 73 creditunions.
Two former members of the Federal Open Market Committee said in interviews that they expect the Federal Reserve to keep rates steady amid uncertainty over the ongoing war with Iran and the resulting upward pressure on inflation.
Goldman Sachs Chief Legal Officer Kathryn Ruemmler received an 11% pay hike last year, bringing her total compensation to $25 million; U.S. Bank promoted Toby Clements to chief operations officer; Klarna is expanding its forward-flow and whole-loan sale deal with Elliot Investment Management to $2 billion; and more in this week's banking news roundup.
Carter Bankshares in Martinsville, Va., sold more than $200 million of loans made to companies controlled by Sen. Jim Justice and his family, closing out a once close relationship that later descended into rancor and litigation.
The Federal Deposit Insurance Corp.'s Office of Inspector General said in a Thursday report that staffing cuts over the past year could strain supervision and the agency's response to a crisis.
The latest rise in property tax collections at the end of last year continued a nine-quarter streak of increases, according to the National Association of Home Builders.
American Banker data finds that regulatory clarity is the top ask from executives holding back on adoption planning.
