Capital

Seneca-Cayuga Bancorp's capital levels have fallen steadily since peaking in 2013.

The Wisconsin regional said the funds will support loan growth and its dividend policy as well as create an added capital buffer.

Organizers of Rockpoint Bank still need to raise $30 million before opening.

Rodney Hood, chairman of the National Credit Union Administration, says the agency's Central Liquidity Facility can be a vital backstop if a crisis occurs, but it will be stronger if more credit unions chip in to make it a success.

The agency's top supervisory official said the Comprehensive Capital Analysis and Review will proceed on schedule, and signaled that the Fed will look at how institutions are responding to fallout from the coronavirus.

The regulator must speed up its capital reform efforts while taking immediate steps to reduce the examination burden.

The proposed Agility Bank would rely heavily on digital offerings. It is pursing a national charter with the Office of the Comptroller of the Currency.

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

The change — effective immediately — will reduce capital demands by about 2% overall, the Fed estimated, and will be open for a 45-day comment period.

The acquirer had pursued a de novo strategy in its home state but was unable to raise enough capital.