• Thursday, May 28, 2015 - 14:52


    --Pending Home Sales Rpt Has 'Less Robust' Sample, May Skew to 'Hot Markets'

    WASHINGTON (MNI) - One thing you can be sure of, seeing Thursday's data on pending home sales and Tuesday's report on April new-home sales, is that what's coming up for the housing market is - pick an answer - accelerating strength, a jeopardized rebound or just continuing confusion.

    Despite the data, question marks remain about housing since the Federal Reserve's rate action is pending, average mortgage rates are already topping 4% two weeks in a row according to one measure and Realtors complain of supply problems driving up prices at a rate approaching double digits.

  • Thursday, May 28, 2015 - 05:34


    By Johanna Treeck and Steven Arons

    DRESDEN(MNI) - Finance ministers and central bankers from Group of Seven nations meeting in Dresden are signalling they are keen not to take any pressure off Greece, highlighting both that an agreement is still far out of reach and that an exit of Greece from the euro area would be manageable.

    "Negotiations between the three institutions and the Greek government have not progressed significantly. That is why I am always surprised that Athens says we are close to an agreement," German Finance Minister Wolfgang Schaueble told a German TV station late Wednesday on the sidelines of the G7 meeting.

    Earlier Wednesday, Greek Prime Minister Alexi Tsipras said his government was "very close" to a deal with creditors.

  • Wednesday, May 27, 2015 - 16:29


    --Retransmitting Story Headlined 10:30 ET Weds; Correcting C&I Noncurrent Loan

    Balance Percentage Rise

    --Banks' Net Income +9% To $39.8 Billion
    --FDIC Chief: Further Improvement In Asset Quality But Net Margins Down

    WASHINGTON (MNI) - U.S. banks as a whole saw a close-to-double digit percentage increase in their earnings in the first quarter of 2015, but most of the boost came from non-interest income, as their margins continue to be squeezed by the low interest-rate environment, the Federal Deposit Insurance Corp. said Wednesday.

    Its Quarterly Banking Profile showed a 9%, or $3.3 billion, rise in banks' net income to $39.8 billion compared to the fourth quarter of last year.

  • Wednesday, May 27, 2015 - 16:22


    --Panel Disputes Value of 'Fiduciary Standard'

    WASHINGTON (MNI) - A senior Obama administration official Wednesday argued that financial advisors need to be subject to stricter rules, as they are currently exploiting what he considers to be lax regulations at the expense of their clients.

    The remarks by Jeffrey Zients, director of the National Economic Council, came during a keynote speech at the Bipartisan Policy Center's conference examining the case for a new fiduciary standard.

  • Wednesday, May 27, 2015 - 16:00


    --Senate Poised To Vote on the Export-Import Bank in June
    --Senate Banking Committee To Study Ex-Im on Tuesday
    --But House Speaker Denies Any Commitment For House Vote

    WASHINGTON (MNI) - The Export-Import Bank faces a precarious survival path in Congress as it confronts an unforgiving calendar and several implacable foes that view its demise as a trophy that will cement their conservative bona fides.

    Congress is on recess this week.

  • Wednesday, May 27, 2015 - 12:11


    --Adding Comments By American Bankers Association Chief Economist
    --FDIC Staff: C&I Loans Fastest Growing Loan Category, Mtgs Trending Up

    WASHINGTON (MNI) - U.S. bank regulators are working to ensure that the financial institutions they oversee are "well-positioned" for the looming interest rate hike by the Federal Reserve, the head of the Federal Deposit Insurance Corp.

  • Wednesday, May 27, 2015 - 11:22


    --FDIC Staff: C&I Loans Fastest Growing Loan Category, Mtgs Trending Up

    WASHINGTON (MNI) - U.S. bank regulators are working to ensure that the financial institutions they oversee are "well-positioned" for the looming interest rate hike by the Federal Reserve, the head of the Federal Deposit Insurance Corp.

  • Wednesday, May 27, 2015 - 10:30


    --Banks' Net Income +9% To $39.8 Billion
    --FDIC Chief: Further Improvement In Asset Quality But Net Margins Down

    WASHINGTON (MNI) - U.S. banks as a whole saw a close-to-double digit percentage increase in their earnings in the first quarter of 2015, but most of the boost came from non-interest income, as their margins continue to be squeezed by the low interest-rate environment, the Federal Deposit Insurance Corp. said Wednesday.

    Its Quarterly Banking Profile showed a 9%, or $3.3 billion, rise in banks' net income to $39.8 billion compared to the fourth quarter of last year.

  • Wednesday, May 27, 2015 - 07:30


    LONDON (MNI) - The following is the full text of a readout, published Wednesday in Washington, from a Treasury Spokesperson on Secretary Lew's call with Greek Prime Minister Alexis Tsipras.

    U.S. Treasury Secretary Jacob J. Lew spoke by phone with Greek Prime Minister Alexis Tsipras this morning. Secretary Lew noted that the Treasury Department continues to monitor the evolving situation in Greece closely.

    Secretary Lew also emphasized that the Treasury remains engaged with all parties involved - including Greece, its European partners, and the IMF - and continues to urge all parties to find common ground and reach an agreement quickly.

  • Wednesday, May 27, 2015 - 07:13


    By Heather Scott

    WASHINGTON (MNI) - U.S. Treasury Secretary Jack Lew spoke by phone with Greek Prime Minister Alexis Tsipras early Wednesday and urged all parties to find a solution quickly and avoid the "immediate hardship" for Greece, Treasury said in a statement.