Federal Reserve Bank of New York

Legislation that would place new rules on organizations that help consumers reduce their debt burden should not exempt services that have historically favored the priorities of lenders over debtors.

New York Fed data shows a record $211 billion in car-loan originations during the second quarter. But median credit scores are falling, and delinquencies are rising, as lower-income consumers struggle to meet their obligations.

High borrowing costs led to fewer mortgage originations in the second quarter, according to the Federal Reserve Bank of New York's Quarterly Report on Household Debt and Credit released Tuesday.

The Narrow Bank — a pass-through bank that first applied for a Federal Reserve master account in 2017 — is appealing an "ill-founded" December decision by the Federal Reserve to deny its application for a master account.

The policy, released Thursday by the New York Fed bank, takes effect Jan. 1. It details which records are subject to disclosure, rules for requesting them and certain exemptions, such as items related to "internal personnel rules and practices."

Federal Reserve Bank of New York President John Williams says there is no evidence that the COVID-19 pandemic has ended the era of very low interest rates experienced before the crisis, although growth may be slower in the long run.

The president of the Federal Reserve Bank of New York said the performance of office loans is a top supervisory issue, but not an immediate threat to financial stability.

During a visit to Buffalo on Friday, New York Federal Reserve President John Williams said the central bank may need to keep cranking up interest rates to gain greater control over high inflation.

Federal student loan borrowers are likely to experience a notable increase in delinquencies once forbearance concludes in May, a report from the Federal Reserve Bank of New York found.

Credit card balances declined most sharply as consumers cut back their spending due to the coronavirus pandemic and associated shutdown orders, the New York Fed said Thursday. But delinquencies also fell across all debt categories, thanks to government and lender relief efforts.

Business continuity plans should be used constantly, not just when the crisis is at its peak, says the New York Fed’s head of financial services.

A surge in demand for home loans drove the increase, but the second quarter could see a slowdown in borrowing and more delinquencies as consumers contend with the economic fallout of the coronavirus pandemic.

The Federal Reserve committed Monday to conducting more asset purchases of Treasury securities and mortgage-backed securities and announced $300 billion in new financing for credit facilities.

The Federal Reserve committed Monday to conducting more asset purchases of Treasury securities and mortgage-backed securities and announced $300 billion in new financing for credit facilities.

The establishment of the Primary Dealer Credit Facility is among a flurry of recent actions by the central bank to limit the economic impact of the coronavirus.

The central bank said it was establishing the Commercial Paper Funding Facility to "support the flow of credit to households and businesses."

Bank beats estimates as earning soar 21%; a cyberattack on the American banking system could create havoc on financial stability.

Profits at big banks are expected to be up versus a year ago but down from the third quarter; add antiquated systems to the bank’s many problems.

John Williams said Friday that the Federal Reserve's three interest rate cuts this year have bolstered the housing market and consumer spending.

Federal Reserve officials said they contained fallout from the rate spike in the repurchase agreement market, but the episode poses longer-term repercussions for liquidity rules, the transition to a new interest rate benchmark and other issues.