Interest rates

Congress will eventually turn its attention to the fact that taxpayers are subsidizing payments to large financial institutions.

U.S. central bankers said the next phase in their campaign to curb inflation will be to debate how high to raise interest rates and when to slow the pace of increases.

Paydowns at the Arkansas bank, which specializes in commercial real estate lending, fell by $1 billion from the prior quarter as refinancing activity slowed amid soaring interest rates. The result was stronger loan growth.

Toronto-Dominion Bank's U.S. commercial lending chief sees loan demand growing even as the Federal Reserve aggressively hikes rates that are already at the highest since 2008. 

The Federal Reserve sounded a note of caution on the U.S. economy, which expanded "modestly" through early October with slowing activity raising recession concerns amid some indications of easing inflationary pressure.

Some regional Federal Reserve bank directors last month favored raising a key interest rate by a smaller or larger amount than the 75 basis points that policymakers ultimately decided was needed to curb persistent inflation.

Almost two-thirds of banking executives believe the U.S. will see its highest interest rates this cycle in the first half of next year. And close to 60% of executives said they are concerned the Federal Reserve is hiking rates too quickly.

Bank of America reported its highest quarterly net interest income in at least a decade thanks largely to the Federal Reserve's interest rate hikes. Meanwhile, debt traders beat analysts' estimates.

Third-quarter results at the Minneapolis bank were powered by loan growth and rising interest rates, partially offset by lower noninterest income. Shortly after the company released its earnings report, it received regulatory approval for its acquisition of MUFG Union Bank.

The Pittsburgh company's finance chief expects more gains in interest income, though he conceded rising deposit costs could curb the pace of advances.

The American consumer is "in good shape" and spending more this month than a year earlier, even amid inflation, jittery markets and international tensions, according to Bank of America Chief Executive Brian Moynihan.

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.

Citigroup plans to offer automatic-sweep products seven days a week as banks respond to clients' demands for higher interest rates on deposits and faster access to their cash.

The amount of money that investors are parking at a major Federal Reserve facility climbed to yet another all-time high as funds sought out places to stash short-term cash.

Most Americans are more indebted than ever, underscoring a persistent and widening wealth divide in the U.S.

The Bank of England's stress tests are meant to provide an unlikely "tail risk" scenario designed to test the resilience of British lenders. The current U.K. market turmoil means this year's scenario is looking increasingly plausible.

Two new academic research papers consider what the Fed is trying to communicate and what it means.

Banks including Wells Fargo, Bank of America and JPMorgan Chase have pulled back on financing for offices and other commercial real estate following a record burst of lending in the first half of this year. 

More U.S. consumers are saddled with credit card debts for longer periods of time, according to a survey, struggling to pay down amid high inflation and rising interest rates.

The average rate on variable-rate cards rose above 18% this week, the highest level since 1996, according to data from Bankrate.com. The industry has been enjoying large profits, which has caught the attention of the Consumer Financial Protection Bureau.