Banking and credit

FILE - In this May 22, 2020, file photo, the Federal Reserve building is viewed in Washington. Federal Reserve officials last month expressed concerns about the severity of the economic downturn triggered by the coronavirus pandemic. The minutes of the June 9-10 discussions that were made public Wednesday, July 1, 2020, show officials grappling with economic disruptions that had already occurred. (AP Photo/Patrick Semansky, File)
July 01, 2020 - 12:50 pm
WASHINGTON (AP) — Federal Reserve officials last month expressed concerns about the severity of the economic downturn triggered by the coronavirus pandemic, saying the drop in economic activity in the spring would likely be the steepest in the post-World War II period. The minutes of the June 9-10...
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June 29, 2020 - 3:10 pm
WASHINGTON (AP) — Michael Haith, owner and CEO of a Denver-based restaurant chain called Teriyaki Madness, is in an unusual position for people like him: He's making money through food delivery and pickup and wants to borrow funds so he can expand. Yet so far, a Federal Reserve lending program set...
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June 29, 2020 - 1:51 pm
WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell says the outlook for the U.S. economy is “extraordinarily uncertain” and the success of the recovery effort will depend in large part on the country’s ability to contain the spread of the coronavirus. “A full recovery is unlikely until people...
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A motorbike ice-cream vendor smokes a cigarette as he waits for customers next to a beach on Salamina island, west of Athens, Monday, June 29, 2020. (AP Photo/Thanassis Stavrakis)
June 29, 2020 - 6:49 am
ATHENS, Greece (AP) — Greece's central bank says the country could avoid a major recession if it makes good use of emergency EU support funds and does not suffer a major renewed outbreak of COVID-19, but the pandemic is likely to compound long-term financial problems. In a 210-page report published...
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File-In this May 22, 2020, file photo, a car drives past the Federal Reserve building in Washington. The Federal Reserve on Sunday, June 28, 2020, released a list of roughly 750 companies, including Apple, Walmart, and ExxonMobil, whose corporate bonds it will purchase in the coming months in an effort to keep borrowing costs low and smooth the flow of credit. The central bank also said it has, so far, purchased nearly $429 million in corporate bonds from 86 of those companies, including AT&T, Walgreen's, Microsoft, Pfizer, and Marathon Petroleum. (AP Photo/Patrick Semansky, File)
June 28, 2020 - 6:45 pm
WASHINGTON (AP) — The Federal Reserve on Sunday released a list of roughly 750 companies, including Apple, Walmart and ExxonMobil, whose corporate bonds it will purchase in the coming months in an effort to keep borrowing costs low and smooth the flow of credit. The central bank also said it has,...
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FILE - In this Oct. 14, 2019, file photo a Bank of America logo is attached to the exterior of the Bank of America Financial Center building in Boston. The Federal Reserve said on Thursday, June 25, 2020, a worst-case scenario for the U.S. economy ravaged by the coronavirus pandemic would cause nation’s 34 largest banks to collectively lose roughly $700 billion. To bolster the banks ahead such a potentially damaging recession, the Fed ordered the banks to suspend stock buybacks and dividend payouts until Sept. 30. (AP Photo/Steven Senne)
June 25, 2020 - 8:38 pm
NEW YORK (AP) — A worst-case scenario for the U.S. economy ravaged by the coronavirus pandemic would cause the nation’s 34 largest banks to collectively lose roughly $700 billion, the Federal Reserve said Thursday. To bolster the banks ahead of such a potentially damaging recession, the Fed ordered...
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A man walks by an electronic stock board of a securities firm in Tokyo, Thursday, June 25, 2020. Shares declined in Asia on Thursday after a sharp retreat overnight on Wall Street as new coronavirus cases in the U.S. climbed to their highest level in two months, dimming investors' hopes for a relatively quick economic turnaround. (AP Photo/Koji Sasahara)
June 25, 2020 - 1:04 pm
Financial companies led stocks broadly higher on Wall Street Thursday as traders welcomed news that the Federal Reserve and other regulators are removing some limits on banks’ ability to make investments. The S&P 500 rose 1.1% after a jumpy day of trading. News on the economy was mixed. The U.S...
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FILE - This May 22, 2020 photo shows the Federal Reserve building in Washington. The Federal Reserve and four other bank regulatory agencies announced on Thursday, June 25, that they have finalized a rule that will ease restrictions curtailing the ability of banks to make investments in such areas as hedge funds. The announcement of the easing of regulations know as the “Volcker Rule” gave an immediate boost to bank stocks because the rule change could free up billions of dollars in capital in the banking industry.(AP Photo/Patrick Semansky, File)
June 25, 2020 - 10:59 am
WASHINGTON (AP) — The Federal Reserve and four other regulatory agencies announced on Thursday that they have finalized a rule that will ease restrictions curtailing the ability of banks to make investments in such areas as hedge funds. The announcement of the easing of regulations know as the “...
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FILE - In this Oct. 23, 2019 file photo, developer Danny Gaekwad talks about the roof top bar on his Hilton Garden Inn hotel that is presently under construction in Ocala, Fla. Since the coronavirus crisis started, hotel owners say they are struggling to get relief on a type of loan that Wall Street investors buy. [Doug Engle/Ocala Star-Banner via AP)
June 25, 2020 - 7:20 am
ORLANDO, Fla. (AP) — Hotel owner and developer Danny Gaekwad survived steep drops in business after the 9/11 attacks and the recession of the late 2000s, but nothing prepared him for the revenue tailspin that followed lockdowns and travel restrictions in March to stop the spread of the new...
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FILE - In this Feb. 14, 2020, file photo, Kristalina Georgieva, Managing Director of the International Monetary Fund, attends a session on the first day of the Munich Security Conference in Munich, Germany. The International Monetary Fund has sharply lowered its forecast for global growth this year because it envisions far more severe economic damage from the coronavirus than it did just two months ago. (AP Photo/Jens Meyer, File)
June 24, 2020 - 10:58 am
WASHINGTON (AP) — The International Monetary Fund has sharply lowered its forecast for global growth this year because it envisions far more severe economic damage from the coronavirus than it did just two months ago. The IMF predicts that the global economy will shrink 4.9% this year,...
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