Federal Reserve

Isabel Schnabel: The future of inflation (forecast) targeting

Retrieved on: 
Thursday, April 18, 2024
Reproduction, Exercise, Finance, Journal of Economic Perspectives, Calibration, Frankfurt, Empirical evidence, American Economic Association, Great Moderation, Interest, Inflation, Norges Bank, Policy, Bank, The Economic Journal, Speech, Employment, ECB, Risk, University of Chicago Press, Communication, Sveriges Riksbank, Debate, OECD, European Economic Review, Watcher, Economic Policy (journal), Goethe University Frankfurt, Federal Reserve Bank, Depression, Christian Social Union (UK), Climate change, Projection, IPhone, Intelligence, Agriculture, Bias, Journal, Research, Disinflation, Harvard Business School, University, Food, Business cycle, Bank of England, European Central Bank, The, American Economic Journal, Uncertainty, Attention, Finance Secretary (India), Conference, Forecasting, Growth, Rotation, Environment, Reserve Bank, Federal, COVID-19, Washington, D.C., Metal, HICP, Federal Reserve, Working paper, American Economic Review, Cryptocurrency

Stock market development and familiarity (language and distance) are considered key determinants for home bias.

Key Points: 
  • Stock market development and familiarity (language and distance) are considered key determinants for home bias.
  • The literature neglects however that investors often invest in foreign funds domiciled in financial centers.

Central bank digital currency and monetary policy implementation

Retrieved on: 
Thursday, April 18, 2024
E41, Central bank digital currency, Atlantic Council, Research Papers in Economics, Remuneration, Norges Bank, People's Bank of China, Policy, Central Bank of Myanmar, Bank for International Settlements, Blog, Financial innovation, Sveriges Riksbank, Bank of Canada, Mechanics, Journal of Monetary Economics, Insurance, Bank of England, E42, Corridor, Quarterly Journal of Economics, Report card, Frankfurt, Appetite, American Economic Association, Digital rupee, Rosolin, RBI, PDF, Private, ECB, Committee, Inden, North Rhine-Westphalia, Bank, Canadian International Council, Social science, JEL, JMD, ECCB, Digital, Journal, Research, POC, European Central Bank, ENaira, M.A, Monetary economics, Section 5, Government, ISSN, The, Central bank, Finance, Buffer, Parliament, CBN, EONIA, Asset, ATM, Risk, International Monetary Fund, Interbank, Section 4, Ministry, Press release, Section 3, Human, Waterfall, Cryptocurrency, Economy, Swiss National Bank, PIB, Section 2, Conference, Reserve Bank, Reserve Bank of India, GBP, Progress, Road, American Economic Review, CBB, Digital currency, Agur, European Commission, International Settlement, Constraint, Money, Community business development corporation, City, Equivalence, Eligibility, Ministry of Finance, Report, Control, Civil service commission, EUR, Uncertainty, Eastern Caribbean Central Bank, Abadi, Rest, Reproduction, Fintech, IMF, Federal Reserve, LCR, Data
Key Points: 

    Council of Federal Home Loan Banks Applauds GAO Report Findings

    Retrieved on: 
    Monday, April 8, 2024
    Deposit insurance, Signature, First Republic Bank, Congress, Federal Reserve Bank, Federal Home Loan Banks, Communication, FDIC, Federal Deposit Insurance Corporation, SVB, Federal, Council, Safety, Federal Housing Finance Agency, Federal Reserve, Silicon Valley Bank, Signature Bank, Bank

    WASHINGTON, April 08, 2024 (GLOBE NEWSWIRE) -- The Council of Federal Home Loan Banks, the public voice of the Federal Home Loan Bank System (FHLBank System), today applauded the findings of a recently published report from the Government Accountability Office (GAO) on the actions of the FHLBanks during the spring 2023 bank failures that disrupted financial markets.

    Key Points: 
    • WASHINGTON, April 08, 2024 (GLOBE NEWSWIRE) -- The Council of Federal Home Loan Banks, the public voice of the Federal Home Loan Bank System (FHLBank System), today applauded the findings of a recently published report from the Government Accountability Office (GAO) on the actions of the FHLBanks during the spring 2023 bank failures that disrupted financial markets.
    • Additional highlights from the GAO report include:
      Federal financial regulators did not identify FHLBank advances as a factor of concern in any of the three banks’ safety and soundness.
    • Starting on March 9, 2023, the FHLBanks and the Federal Reserve Banks of New York and San Francisco made several efforts, in accordance with their policies and procedures, to help the failing banks pledge collateral to obtain liquidity from the Federal Reserve Banks.
    • It is also worth noting that the GAO report affirms that advances provided to the failed banks had a very limited, if any, direct impact on the Deposit Insurance Fund.”

    Janover Reports Fiscal 2023 Financial Results and Provides Business Update

    Retrieved on: 
    Thursday, March 28, 2024
    SMB, Software as a service, Growth, SBA, CFO, Federal, Artificial intelligence, Acquisition, Small business, IPO, Completeness, Investment, Small Business Administration, BOCA, Federal Reserve, Marketing, CPA, Cryptocurrency

    BOCA RATON, Fla., March 28, 2024 (GLOBE NEWSWIRE) -- Janover Inc. (Nasdaq: JNVR) (“Janover” or the “Company”), an AI-enabled platform for commercial real estate transactions, today provided a business update, and announced its financial results for the year-ended December 31, 2023.

    Key Points: 
    • BOCA RATON, Fla., March 28, 2024 (GLOBE NEWSWIRE) -- Janover Inc. (Nasdaq: JNVR) (“Janover” or the “Company”), an AI-enabled platform for commercial real estate transactions, today provided a business update, and announced its financial results for the year-ended December 31, 2023.
    • However, the downward pressure on the commercial real estate financing business was offset by strong growth in the SBA and SMB business, which more than doubled over the past two fiscal years.
    • Sales and marketing expenses for the year-ended December 31, 2023, were $2.0 million, compared to $1.6 million for the year-ended December 31, 2022.
    • Adjusted EBITDA and adjusted EBITDA per share are non-GAAP financial measures (defined below).

    Customers Bank Onboards 10 Experienced Banking Teams and Accelerates Deposit Transformation; Builds Prominence on East, West Coasts

    Retrieved on: 
    Tuesday, April 9, 2024
    Banking, Fintech, Professional Services, Finance, Customer, Growth, Customers Bancorp, Contact angle, Football, C&I, Federal Reserve, Federal Deposit Insurance Corporation, Contact, Bank

    Customers Bank, the $22 billion asset subsidiary of Customers Bancorp (NYSE:CUBI), has onboarded 10 experienced commercial and business banking teams in New York, California and Nevada.

    Key Points: 
    • Customers Bank, the $22 billion asset subsidiary of Customers Bancorp (NYSE:CUBI), has onboarded 10 experienced commercial and business banking teams in New York, California and Nevada.
    • With new talent, Customers Bank builds its prominence on East and West Coasts.
    • “At Customers Bank, we're intent on ensuring that our teams are fully supported to provide our clients with access to trusted and tested expertise,” said Customers Bank Executive Chairman Jay Sidhu.
    • Major accolades include:
      A member of the Federal Reserve System with deposits insured by the Federal Deposit Insurance Corporation, Customers Bank is an equal opportunity lender.

    Hiring Growth for Small Businesses Continues in March

    Retrieved on: 
    Tuesday, April 9, 2024
    Insurance, Human Resources, Labor, Finance, Consulting, Public Policy, Government, Professional Services, Small Business, Other Professional Services, Employment, Entertainment, Growth, Labour, Federal, Bureau, Small business, Creative Commons, CFA, Index, Recreation, Atmosphere, Federal Reserve, ADP

    The CBIZ SBEI tracks payroll and hiring trends for over 3,000 companies that have 300 or fewer employees, providing broad insight into small business trends.

    Key Points: 
    • The CBIZ SBEI tracks payroll and hiring trends for over 3,000 companies that have 300 or fewer employees, providing broad insight into small business trends.
    • Meanwhile, the ADP employment report indicated hiring growth among small, medium and large-sized companies.
    • Small businesses accounted for an increase of 16,000 of those jobs on a seasonally adjusted, month-over-month basis.
    • Whether small businesses can continue this hiring trend is up in the air.

    CSI Customer Conference Returns With Keynote Speaker Tim Tebow

    Retrieved on: 
    Tuesday, April 9, 2024
    Technology, Finance, Consulting, Banking, Professional Services, Other Philanthropy, Philanthropy, Other Technology, Software, Fund Raising, Internet, Fintech, Data Management, Security, Stifel, Speech, CSI, Intelligence, Tim Tebow, Perseverance, Education, Federal, Hawthorn, University, News, CX, Community service, Party, Housing, Heart, Federal Reserve, CMO, Friends

    CSI , a leading provider of end-to-end financial software and technology, will hold its 2024 customer conference, titled CX24: Authentic Roots, Ambitious Pursuits, from April 14 to April 17 in San Antonio.

    Key Points: 
    • CSI , a leading provider of end-to-end financial software and technology, will hold its 2024 customer conference, titled CX24: Authentic Roots, Ambitious Pursuits, from April 14 to April 17 in San Antonio.
    • David Culbertson, CSI’s president and CEO, will open the conference with his keynote speech, featuring the latest news from CSI, his vision for the company’s future and insight into today’s community banking industry.
    • “The integrity and authenticity of customer relationships are the heart of community banking—and the key to creating lifelong account holders.
    • For more information on the customer-only conference, including a list of breakout sessions, visit the CX24 website .

    Schwab Trading Activity Index™: Score Ascends to Moderate Levels in March

    Retrieved on: 
    Monday, April 8, 2024
    Professional Services, Business, Finance, Fintech, Asset Management, Banking, Consumer, Education, CPI, VIX, Labour, Federal Reserve, Name, STAX, S&P, Activity, Current Population Survey, Fed, PPI, Producer, Multimedia, Treasury, Consumer confidence, CBOE, Financial adviser

    The Schwab Trading Activity Index™ (STAX) increased to 51.65 in March, up from its score of 47.65 in February.

    Key Points: 
    • The Schwab Trading Activity Index™ (STAX) increased to 51.65 in March, up from its score of 47.65 in February.
    • View the full release here: https://www.businesswire.com/news/home/20240408112995/en/
      Schwab Trading Activity Index March 2024 (Graphic: Charles Schwab)
      The reading for the four-week period ending March 28, 2024 ranks “moderate” compared to historic averages and marks the highest reading since May 2022.
    • “In the face of undeniably mixed macroeconomic data, the markets soared this month, and the STAX score continued its rise in step,” said Joe Mazzola, Director of Trading and Education at Charles Schwab.
    • “Despite the market highs, however, Schwab clients remain in the moderate range of market exposure as measured by the STAX.

    Bank of South Carolina Corporation Announces First Quarter Earnings

    Retrieved on: 
    Tuesday, April 9, 2024
    Federal Reserve, Federal, Bank, OTCQX

    CHARLESTON, S.C., April 9, 2024 /PRNewswire/ -- The Bank of South Carolina Corporation (OTCQX: BKSC) announced unaudited earnings of $1,375,796 or $0.25 basic and diluted earnings per share for the quarter ended March 31, 2024 – a decrease of $212,983, or 13.41%, from earnings for the quarter ended March 31, 2023 of $1,588,779 or $0.29 and $0.28 basic and diluted earnings per share, respectively.

    Key Points: 
    • CHARLESTON, S.C., April 9, 2024 /PRNewswire/ -- The Bank of South Carolina Corporation (OTCQX: BKSC) announced unaudited earnings of $1,375,796 or $0.25 basic and diluted earnings per share for the quarter ended March 31, 2024 – a decrease of $212,983, or 13.41%, from earnings for the quarter ended March 31, 2023 of $1,588,779 or $0.29 and $0.28 basic and diluted earnings per share, respectively.
    • When compared to last quarter, we produced higher net interest income, net income, and book value per share.
    • These improved results are in large part due to strong commercial loan activity experienced during the quarter that propelled average loan growth of 2.5%.
    • Meanwhile, credit quality is sound and non-performing assets minimal, and we are encouraged to be ahead of our 2024 profit plan to-date.

    Provident Financial Services, Inc. Receives FDIC and New Jersey Department of Banking and Insurance Approvals for its Merger with Lakeland Bancorp, Inc.

    Retrieved on: 
    Monday, March 25, 2024
    Organization, Tier 2, Growth, Provident Bank, Insurance, FDIC, Financial services, Provident, Federal Reserve, OAK, Federal Deposit Insurance Corporation, PFS, Calendar, Security (finance)

    Upon completion of the merger, the combined company will operate under the Provident name and will benefit from enhanced scale, and opportunities for growth and profitability.

    Key Points: 
    • Upon completion of the merger, the combined company will operate under the Provident name and will benefit from enhanced scale, and opportunities for growth and profitability.
    • The regulatory approvals contain certain conditions and commitments, including that Provident complete a $200 million capital raise prior to completion of the merger.
    • Provident intends to satisfy this condition by raising $200 million of Tier 2 qualifying subordinated debt prior to completing the merger.
    • In connection with these approvals, Provident and Lakeland expect to agree that the combined board of directors will consist of nine directors from Provident and five directors from Lakeland.