MUSA designated primary dealer by New York Fed

January 16, 2026 4:52 PM

In this week's banking news roundup: MUFG Securities Americas is designated a primary dealer by the the Federal Reserve Bank of New York; Founders Bank appoints Chris Lipscomb its senior vice president and chief lending officer; the Independent Community Bankers of America names Charles Yi senior executive vice president of government relations; and more.

New York Fed designates MUSA a primary dealer

Mitsubishi UFJ Financial Group announced on Jan. 15 that its registered broker-dealer MUFG Securities Americas, or MUSA, has been designated a primary dealer by the Federal Reserve Bank of New York. In this capacity, MUSA will act as a trading counterparty with the New York Fed, participating in open market operations, supporting U.S. Treasury securities at auctions, and providing market intelligence and analysis to the New York Fed's Open Market Trading Desk.

"As one of the world's leading financial institutions, we are proud to support the stability, liquidity, and efficient functioning of the U.S. Treasury market and honored to have been approved by the New York Fed for this role," Head of Global Markets Sales and Trading Mike Yarian said in a press release.

To qualify for this designation, MUFG — one of the 10 largest financial groups, according to S&P Global Market Intelligence — was required to demonstrate a substantial presence as a market maker and to operate a back office capable of supporting settlement at volumes expected by the New York Fed, among other requirements. —Traci Parks

Founders Bank promotes Chris Lipscomb

Washington, D.C. — Founders Bank named Chris Lipscomb its senior vice president and chief lending officer, the bank said in a Jan. 12 press release. Lipscomb joined Founders in 2023 as Northern Virginia market leader. In his new role, he will lead the commercial lending team as the bank expands its presence throughout the Greater Washington region. Founders' Chief Executive Officer Martin McCarthy praised Lipscomb's leadership and industry expertise. "We are confident that, as Chief Lending Officer, he will play a pivotal role in advancing our commercial lending strategy and reinforcing our long-standing commitment to community-focused banking," McCarthy said in the release.

Lipscomb's promotion reflects Founders Bank's ongoing commitment to strengthening its leadership team.

"I look forward to working closely with our team to continue serving our customers and supporting sustainable growth across the communities we serve," Lipscomb said in the release. —Traci Parks

Urban Institute launches Center for Local Finance and Growth

On Tuesday, the Urban Institute announced the launch of its Center for Local Finance and Growth, a nonpartisan knowledge and solutions hub to advance the mission finance and community economic development sectors.

The mission finance sector and CDFIs play a vital role in expanding economic opportunity through homeownership, supporting entrepreneurs, and ensuring access to essential services like child care, grocery stores, and employment. With support from major financial institutions and foundations, the center will provide research, data tools and advisory services to empower policymakers and practitioners with evidence-based strategies to build strong, thriving local economies.

As the sector faces rapid shifts in policy, technology and financial markets, there's a great need for "timely, accessible, and actionable evidence about what works and where and how it works," said Sarah Rosen Wartell, president of the Urban Institute, in a Jan. 13 press release. —Traci Parks

ICBA names Charles Yi SVP of government relations

The Independent Community Bankers of America named Charles Yi senior executive vice president of government relations, effective following a Jan. 8 announcement. Yi previously served as senior advisor to the president and interim chief of regulatory affairs since August. ICBA President and CEO Rebeca Romero Rainey praised Yi's "steady leadership and deep subject matter expertise."

Yi brings extensive experience to his new position, including roles as general counsel for the Federal Deposit Insurance Corporation and as staff director and chief counsel on the Senate Banking Committee. His background also includes serving as a senior executive at the Federal Housing Finance Agency, deputy assistant secretary for banking and finance at the Treasury Department, and counsel on the House Financial Services Committee.

The government relations team's support of community banks is "critical to the success of the small businesses and local communities that underpin our nation's economy," Yi said in a release. —Traci Parks

Citi hires NAB’s Rowe to expand Australian syndication business

Citi is expanding its syndication team in Australia to strengthen its presence in the rapidly growing market for asset-backed securities.

Jessica Rowe from National Australia Bank has joined as a director for spread products syndication in Australia and Asia Pacific, where she will be responsible for primary securitization transactions, Citi said in a statement Wednesday.

The appointment comes as demand for asset-backed securities accelerates across the region. Australia's ABS market could reach A$100 billion ($67 billion) in 2026, aided by the emergence of new categories such as data center-backed securitization, according to a Morningstar DBRS report. Total issuance for 2025 was A$76.3 billion, data compiled by Bloomberg showed.

Citi also hired Dane Harris from Commonwealth Bank of Australia as a vice president in its Australian dollar debt syndicate team in the country.

Citi's Australia and New Zealand Head of Markets Cristina Chang said the appointments reflect the bank's "commitment to leading in the Australian dollar corporate credit, rates and ABS securitized products space." —Sharon Klyne, Bloomberg News

Eric Adams says he did not profit from launch of NYC memecoin

Eric Adams said he did not profit from the launch of the NYC Token memecoin he is promoting, which initially soared in value before crashing following its debut on Monday.

The former mayor of New York City said in a statement through his spokesperson Todd Shapiro that reports about Adams moving money out of the NYC Token were "false."

NYC Token was launched on Monday, as Adams appeared in Times Square and on the Fox Business television channel, saying that proceeds from the token will help fight antisemitism and educate children about the blockchain. However, the token had a rough start, as its value crashed to as low as below 10 cents after having surged as high as 58 cents.

"To be absolutely clear: Eric Adams did not move investor funds," the statement on Adams' X account said. "Eric Adams did not profit from the launch of the NYC Token. No funds were removed from the NYC token." —Muyao Shen, Bloomberg News