From the FOMC : Information received since the Federal Open Market Committee met in June suggests that economic activity is leveling out . Conditions in financial markets have improved further in recent weeks. Household spending has continued to show signs … Read More
The Mortgage Bankers Association said today home-loan application volume decreased 3.5 percent last week vs. a week earlier as mortgage rates edged up. As I write this, the yield on a 10-year Treasury, a rough guide to 30-year fixed mortgage … Read More
Just a quick blog post to note the Federal Reserve board meets tomorrow, and it will be interesting to see what it says, if anything, about buying government bonds. As of now the program to buy up to $300 billion … Read More
The Fed has been a steady buyer of Treasury securities. It appears this program will end in September. From the last FOMC statement : [T]he Federal Reserve will buy up to $300 billion of Treasury securities by autumn. From Bloomberg … Read More
The following article is similar to the Chicago Tribune article last week, Corus Bankshares Inc. on cusp of crisis , but adds a little local color in Florida. From the Miami Herald: Soured loans on South Florida condos sinking Corus … Read More
Consumer credit fell $10.3 billion in the U.S. in June, or at a 4.92 percent annual rate, to $2.5 trillion. It was the fifth straight month of decline, as banks cut limits on credit cards and some consumers remained wary … Read More
This is an unofficial list of Problem Banks. The list is compiled from regulator press releases or from public news sources (see Enforcement Action Type link for source). The FDIC data is released monthly with a delay - the most … Read More
From the FDIC: Home Federal Bank, Nampa, Idaho, Assumes All of the Deposits of Community First Bank, Prineville, Oregon Community First Bank, Prineville, Oregon, was closed today … As of July 5, 2009, Community First Bank had total assets of … Read More
Wise men said before “A rising tide lifts all boats” Not these submarines by Soylent Green is People From the FDIC: Stearns Bank, National Association, St. Cloud, Minnesota, Assumes All of the Deposits of First State Bank, Sarasota, Florida First … Read More
From MarketWatch: June consumer credit down for 5th straight month U.S. consumers reduced their debt in June for the fifth consecutive month, the Federal Reserve reported Friday. Total seasonally adjusted consumer debt fell $10.29 billion, or at a 4.9% annual … Read More