Regulation

After Congress temporarily lowered the leverage ratio used by smaller institutions, the federal agencies said they would allow a one-year transition before banks have to comply again with the regular standard.

Congress and financial regulators have implemented a number of measures to help the industry survive the financial impact of the pandemic, and a fourth phase of stimulus could be coming.

The only current CEO who steered a major U.S. bank through the financial crisis, Dimon said JPMorgan’s earnings will be “down meaningfully” this year as a result of the coronavirus pandemic.

Banks will tell the Fed they would remain strong after payouts; customers would need $250,000 in liquid assets on deposit at the bank to qualify to refinance.

First State Bank, which the FDIC sold to MVB Financial, had struggled with profitability and capital levels for several years.

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The decision sparked outrage from small-business owners who have checking accounts with the bank but not loans or business credit cards. Bank of America started taking applications Friday for a $349 billion program that's intended to offer aid to small businesses suffering from the shocks of the coronavirus pandemic.

The agency proposed changes in December to how customer relationships affect the definition of brokered funds, which has big implications for banks that are not well capitalized.

Requiring banks to test themselves is likely to be a waste of time in the current crisis, says a former Senate Banking counsel.

The agencies will give the industry another month to submit feedback on the so-called covered fund portion of the rule "in light of potential disruptions resulting from the coronavirus.”