Politics

Once it is free to issue new debt, the Treasury Department is expected to quickly replenish its general account at the Fed. The move could lead to a shortage of reserves.

House Financial Services Committee ranking member Maxine Waters, D-Calif., attempted to find bipartisan support from Rep. Andy Barr, R-Ky., for a number of amendments to bills meant to rein in regulators. What she got instead was a commitment to work on some measures in the future.

The Federal Reserve Board governor said secular increases to the currency supply limits how much the central bank can shrink its holdings.

During her opening remarks before lawmakers Tuesday, the head of the Federal Housing Finance Agency reiterated that borrowers with strong credit profiles are not being penalized to benefit those with poorer scores.

Only an act of Congress can allow the lenders to become members, two bank presidents emphasized.

Recent bank troubles mean agency MBS, multifamily and jumbo mortgage activity are set for changes, analysts said at an industry conference.

Some stakeholders have worried about the estimated date for the transition to a new way of calculating credit worthiness, but an official assured attendees at an industry conference that the agency won't act prematurely.

The Community Home Lenders of America is asking Fannie Mae and Freddie Mac's regulator to consider automatic indemnification on performing loans with flaws.

At least $83 million worth of loans were insured by the FHA without lenders following the necessary protocols, the department's inspector general claims.

The regulator, which is seeking to halt the combination, said arguments involving constitutionality of its proceedings are "impertinent" and "immaterial."

The FOMC meets June 13-14. Join us June 15 at 2 p.m., Eastern time, as Jeffrey Cleveland, chief economist at Payden & Rygel, provides his take on the meeting statement, Federal Reserve Board Chair Jerome Powell's press conference and the latest Fed projections.

Former First Republic CEO Michael Roffler, in his first public comments since the failure of the bank, said changes to deposit insurance would be worthwhile for Congress to consider.

Treasury Secretary Janet Yellen defended the administration's systemic risk exception and said regulators will backstop small banks that pose contagion risk.

More than 140 current and former lawmakers are defending the constitutionality of the agency's funding arrangements. The nation's highest court is expected to rule on the issue in its upcoming term.

Comments from Federal Reserve Gov. Michelle Bowman last week show that supervisory reforms outlined by the Fed's top regulatory official could meet significant opposition, policy analysts say.

The withdrawn loan level pricing adjustment matrix changes were mostly about election-year politics and the Federal Housing Finance Agency's plan for credit scoring changes is even more impractical, the Chairman of Whalen Global Advisors writes.

The Federal Reserve meeting May 2-3 will be closely watched for hints about what the FOMC's next move is. Join BNP Pariba U.S. Economist Yelena Shulyatyeva at 11 a.m. May 4 as she takes a look at the meeting and Chair Powell's press conference.

The Federal Reserve Board governor also called for the Fed to commission an independent investigation into the failure of Silicon Valley Bank.

Speaking before the International Swaps and Derivatives Association's annual meeting, Treasury Undersecretary for Domestic Finance Nellie Liang said liquidity and interest rate risk in the banking sector is being managed, but said fears of risk mounting in the nonbank sector are a source of concern.

The Federal Reserve Board governor said adopting policies on climate change are not necessary and risk hurting the central bank's credibility.