U.S. banks had net income of $40.3 billion in the fourth quarter, pushing industry earnings to a record $154.7 billion for the full year, the Federal Deposit Insurance Corp. said in its Quarterly Banking Profile.
U.S. regulators implementing Volcker Rule curbs on banks’ trading have formed an interagency group to coordinate their efforts and reduce chances for companies to play for advantage by exploiting differences.
The U.S. Federal Deposit Insurance Corp. will let foreign and domestic subsidiaries keep working when the agency uses its power under the Dodd-Frank Act to rebuild failing financial firms, acting chairman Martin Gruenberg said.
With enthusiastic endorsements from top U.S. financial regulators, a Memphis, Tennessee-based organization has signed up 250 banks in 47 states to fund a program dedicated to fighting crime in nursing homes.
U.S. regulators preparing to monitor markets for systemic risk must establish unique identifiers to help track complex financial transactions, the Federal Deposit Insurance Corp.’s acting chairman said in a Washington speech.