Finance

The banks reported fiscal third-quarter results that topped analysts’ estimates on gains in domestic personal and business loans as well as continued strength in the Canadian housing market.

The home purchase target for Fannie Mae and Freddie Mac would set a new 10% benchmark for qualified single-family lending in census tracts that meet certain demographic and income targets.

The Pittsburgh bank's commitment covers areas that include renewable energy, clean transportation and green buildings.

The size of the financial commitments was not disclosed, but they add to a $425 million fundraising round that the data aggregator announced earlier this year.

Financial institutions will have until early October to weigh in about new risk-based capital requirements for nonbanks.

This year's assessment for Fannie Mae and Freddie Mac is the first to take into account a January agreement between the Federal Housing Finance Agency and the Treasury Department that allowed the companies to retain more earnings.

Upgrade, a lending startup that counts former LendingClub executive Renaud Laplanche as a co-founder, raised $105 million in a funding round that values the company at more than $3.3 billion.

The influx that began around the start of the pandemic has yet to subside, as loan demand remains weak even though consumers are again spending money. Some of the excess liquidity now seems likely to remain for a long time, forcing banks to make tough calls about how and when to deploy it.

Many banks reported sharp declines in income from home loans during the second quarter. The large gains they enjoyed last year thanks to a surge in refinancing activity are unlikely to return, according to bankers and analysts.

First Hawaiian and Bank of Hawaii are warning that a global spike in coronavirus cases could stunt the state's momentum and threaten credit quality.