ARLINGTON, Va. - (08/17/04) Spreads may be tight and credit unionnet income strained, but just 23% of credit unions are using aconsultant or vendor to assist with their investment strategy,according to new data from NAFCU. "This implies that most of thecredit unions feel they have sufficient in-house" investingexpertise," said NAFCU's Chief Economist, Tun Wai. NAFCU said italso found that nearly 90% indicated that they utilize a"laddering" approach to investing in debt instruments, and of those47% have maintained the same "laddering" strategy over the past sixmonths, with 39% shortening their ladders and 14% extending theirladders. Seventy nine percent of respondents reported that theirinvestment policy allows for investments with a duration of fiveyears or more, while 11% indicated that their maximum allowableinvestment duration was three years or less.
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Liberty Bank in Salt Lake City had been "structurally unprofitable" since 2008, according to its regulators. Experts criticized the FDIC for allowing the bank's demise to play out in slow motion.
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The New York-based bank says it will push its concentration of commercial real estate loans below 400% of risk-based capital over the next two years and focus more on C&I.
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The San Francisco-based firm's Anchorage Digital Trusted Liquidity and Settlement network, better known as Atlas, will allow clients to settle a range of cryptocurrency transactions.
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Consumer spending slowed and charge-offs rose during the first quarter, but Bread Financial said a pending late-fee rule may not be as devastating to its revenue as the Columbus, Ohio-based firm initially feared.
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Artificial intelligence models are energy hogs. Climate First Bank and UBS are among the very few trying to solve this problem.
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The FDIC board debated and ultimately withdrew two separate proposals to address asset managers' control over banks, but acting Comptroller of the Currency Michael Hsu said he couldn't support either and called for more research and debate about how asset managers' control over banks impacts safety and soundness.
April 25