Bush moves to aid U.S. homeowners
J.P. Morgan Chase & Co., Bank of America Corp., and Wachovia Corporation jointly announced that they have made use, on a limited basis, of the discount window facility announced by the Federal Reserve Board late last week.In transactions intended to display the effectiveness of the facility, J.P. Morgan Chase, Bank of America and Wachovia each […]
Friday’s surprise cut to the discount rate by the U.S. Federal Reserve Board could yet lead to a future cut in the Fed funds rate, possibly even an inter-meeting move, say Bay Street economists.The Fed surprised markets by announcing a 50 basis point cut in its discount rate today, in an effort to cool markets. […]
Rate drops to 5.75%
The U.S. Federal Reserve Board said today that it is providing liquidity to facilitate the orderly functioning of financial markets.In a statement, the Federal Reserve said it will, “provide reserves as necessary through open market operations to promote trading in the federal funds market at rates close to the Federal Open Market Committee’s target rate […]
Scotia clear to acquire 10% of voting shares of First BanCorp.
Moderation in inflation yet to be seen, U.S. central bank ssay
Lingering concern that inflation will remain under control
Bank allegedly violated National Flood Insurance Act
U.S. economic activity expanded from mid-April through May, with a number of areas reporting stronger growth, the U.S. Federal Reserve said today.Seven of the 12 Fed districts described growth as modest or moderate, while the others reported growth as moderately strong, edging up, or somewhat faster than in recent months, according to the Fed’s Beige […]