Interest rates

Arbor Bank in Nebraska will customize CD rates and maturities for customers and even show them other options from competitors.

"We're at the very beginning of that mission" to tighten policy enough to slow down the economy and push down inflation, says Bill Dudley, a former New York Fed president.

The Federal Reserve's latest rate hike will cost Americans with outstanding credit card debt more than $5 billion in additional interest over the next 12 months, according to an estimate from the personal-finance site WalletHub.

Investment is flowing out of stablecoins into assets like U.S. Treasuries in response to prevailing macroeconomic conditions, according to Circle Internet Financial Chief Executive Jeremy Allaire.

The interest paid on consumer deposits has barely risen despite the Federal Reserve's aggressive rate hikes, writes Sen. Jack Reed, D-R.I., in letters to seven of the largest U.S. banks including JPMorgan Chase and Wells Fargo.

Ahead of this week's Federal Open Market Committee meeting, where it is expected to enact another large rate hike, 11 lawmakers sent a letter to the central bank, urging it not to go too far.

Tom Hayes, the former UBS Group trader convicted in the U.K. over the Libor-rigging scandal, had a criminal indictment against him dismissed by a New York judge.

Some of the U.K.'s biggest high street banks are bracing themselves for trouble.

Banco Santander said rising costs linked to inflation could leave it short of its efficiency goal for the year while worsening credit quality trends in Brazil were also in focus, even as the lender's earnings beat analysts' expectations.

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.