The Federal Reserve on Wednesday will release the results of its Comprehensive Capital Analysis and Review of the nation's largest banks. The results will determine whether the top lenders can buy back shares and go ahead with dividend payout plans.
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Treasury Secretary Steven Mnuchin's recommendations for revising financial rules promise to help small businesses by simplifying capital rules for community banks and easing stress testing of credit unions, which would increase small-business lending, writes Karen Mills, a senior fellow at Harvard Business School. A recommendation to repeal a Dodd-Frank Act requirement that banks report data on small-business lending, however, is a foolish one that would deprive regulators and markets of vital data, Mills writes.
TD Bank, JPMorgan Chase, Citigroup and other companies are targets of a variant of the Marcher Android malware, which steals smartphone users' login credentials. The virus gains access through links to mobile games and adult content by asking users to update Adobe Flash Player.
Banks are increasingly turning to cybersecurity experts to vet deals for risk, including dormant computer viruses or evidence of industrial espionage. Approximately 85% of executives surveyed by the New York Stock Exchange say vulnerability discovered during an audit preceding an acquisition would make them reconsider the deal.
A recommendation from the Treasury Department that banks with a 10% leverage ratio be exempt from the Volcker rule opens up the financial system to risk faced during the crisis, writes Christopher Laursen, former manager of risk policy and guidance at the Federal Reserve. The exemption would encourage banks to make risky bets to increase returns to prop up capital to a level that puts the banks above regulatory scrutiny, raising systemic risk, Laursen writes.
Federal Reserve Governor Jerome Powell said at the Salzburg Global Seminar in Austria that rules implemented after the financial crisis could be eased but that core rules for major banks should remain.
The Financial CHOICE Act faces a major hurdle in the Senate, but experts think the Trump administration can move toward a rule overhaul through regulators. "Trump-appointed regulators are already reinterpreting rules, implementing them differently or clearly signaling they're not going to enforce some of the rules," said Better Markets CEO Dennis Kelleher.
People who become extremely nervous before public speaking situations can calm their nerves by practicing under pressure in the days before their speeches, writes Art Markman. However, in the moments immediately before a speaking appearance, it's best to avoid any last-minute practice in favor of counting deep and slow breaths to reduce anxiety.