Latest news with #OCC
Bloomberg
a day ago
- Business
- Bloomberg
US Regulators Says Comments on Key Bank Capital Rule Due Aug. 26
The US Federal Reserve and other bank regulators set an Aug. 26 deadline for public comments on a proposal to ease a key bank capital rule, saying they expect the amount of overall capital that big lenders would maintain as a result of their plan would 'generally stay the same.' 'Although certain depository institution subsidiaries could see greater reductions, that capital generally would not be available for distribution to external shareholders given the restrictions that apply at the bank holding company level,' the Fed said in a joint statement Friday along with the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency
Yahoo
2 days ago
- Business
- Yahoo
Bank of America (BAC) Poised for Crypto Expansion as Senate Passes Stablecoin Bill
Bank of America Corporation (NYSE:BAC) is one of the 11 best performing Warren Buffett stocks in 2025. On June 17, the US Senate passed a crucial bill that sets the stage for corporate adoption of stablecoins. Dubbed the 'Guiding and Establishing National Innovation for U.S. Stablecoins Act' (GENIUS Act), the bill's primary focus is to create a regulatory framework for stablecoins. Stablecoins are cryptocurrencies designed to maintain a stable value, typically pegged to the US dollar. According to a Reuters report, the bill's passing is a major endorsement for major US banks, including Bank of America, to expand into cryptocurrencies. One of the ways the institutions could participate in the crypto market, the report says, is to become 'middlemen for crypto-related transactions.' The GENIUS Act seeks to create a dual-track regulatory system with three categories of permitted stablecoin issuers. The first category includes subsidiaries of insured depository institutions (IDIs), and the second category comprises federal qualified payment stablecoin issuers regulated by the Office of the Comptroller of the Currency (OCC). Lastly, there will be a category of state-qualified payment stablecoin issuers supervised by certified state regulators. Bank of America Corporation (NYSE:BAC) is a multinational financial services company. It provides various banking, investment, asset management, and risk management products and services. Its operations span consumer banking, global wealth and investment management, global banking, and global markets. While we acknowledge the potential of BAC as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 days ago
- Business
- Yahoo
Armed Forces Bank Earns "Outstanding" Rating for its Community Reinvestment Act Performance
Armed Forces Bank recognized as a leader in providing community development loans designed to help low and moderate-income communities and military families Fewer than 10% of banks receive a CRA's top rating LEAVENWORTH, Kan., June 25, 2025 /PRNewswire/ -- Armed Forces Bank – a full-service military bank committed to serving those who serve since 1907 – received an overall rating of "Outstanding," the highest possible rating, on its most recent Community Reinvestment Act (CRA) performance evaluation from the Office of the Comptroller of the Currency (OCC). This elite rating reflects Armed Forces Bank's longstanding commitment to the military communities it serves throughout the United States. Over the past 10 years, fewer than 10 percent of banks nationwide received a CRA rating of Outstanding. "Receiving an Outstanding rating from the OCC affirms our long-standing commitment to serving military families and the communities where they live and work. At Armed Forces Bank, community reinvestment is not just a regulatory requirement, it's a core part of who we are," Tom McLean, SVP/Military Regional Executive, Armed Forces Bank. "We are proud that our efforts to expand access to capital, support local development, and partner with community organizations are making a measurable difference. This recognition reflects the dedication of our entire team and strengthens our resolve to build stronger, more resilient communities every day." Enacted in 1977, the CRA requires banks to help meet the credit needs of their local communities – especially low- and moderate-income individuals, neighborhoods, and small businesses. The OCC evaluates banks based on how effectively they fulfill these obligations. Armed Forces Bank Performance Highlights from the CRA Evaluation The OCC commended Armed Forces Bank for demonstrating "excellent responsiveness" to community development needs. Notable outcomes during the evaluation period included: $15.7 million in community development loans, supporting housing and services for elderly and disabled residents, revitalization efforts in moderate-income areas, and protective programs for low-income seniors in nursing homes. $17.1 million in investments directed toward affordable housing through community impact bonds, mortgage-backed securities, and Small Business Investment Company funds. $94,600 in donations to organizations supporting free legal services for veterans pursuing disability compensation claims with the Department of Veterans Affairs, homeless outreach, and aging-in-place programs for seniors. 2,313 volunteer hours provided by Armed Forces Bank associates across 17 organizations – including financial literacy education at Newcomer Briefings for incoming soldiers. Steadfast Commitment to Military CommunitiesArmed Forces Bank maintains a steadfast commitment to meeting the unique needs of military service members and their families. That dedication has earned national recognition, including being named "Distinguished Bank of the Year" by the U.S. Military for its extraordinary contributions to financial well-being of military families and veterans. In addition, Armed Forces Bank was the only bank this year to earn the Veterans Saves "Community Impact Award," as well as one of only four banks nationally to be awarded the "Designation of Savings Excellence" – an honor Armed Forces Bank has received 10 times in the past 12 years. These two honors from the Consumer Federation of America are the nation's only awards focused on helping veterans improve financial stability. Most recently, Armed Forces Bank was named one of Kansas City's top five strongest banks. Introducing Heroes Roundup to Serve Homeless VeteransIn May 2025, Armed Forces Bank launched Heroes Round Up, a powerful new giving program that empowers anyone – military or civilian – to roundup their debit card purchases to support the Veterans Community Project – a nonprofit working to end veteran homelessness nationwide through innovative housing and support services. "Everything we do is about making life easier and better for service members, veterans and their families, no matter where they are stationed," adds McLean. "We believe we are uniquely qualified to do that, because 75% of our staff are military-affiliated, meaning they or someone they love has served." About Armed Forces BankArmed Forces Bank, founded and headquartered in Fort Leavenworth, Kansas, is a full-service military bank committed to serving those who serve since 1907. Armed Forces Bank provides affordable, personal and convenient banking and financial services to both active and retired military, as well as civilian clients in all 50 states and around the world. Approximately 75% of Armed Forces Bank associates have some type of military affiliation either by spouse, retired themselves or their children. Armed Forces Bank has $1.4 billion in assets and is a wholly owned subsidiary of Dickinson Financial Corporation, a $4.3 billion bank holding company headquartered in Kansas City, Missouri. Armed Forces Bank's sister bank, Academy Bank, is a full-service community bank with over 70 branch locations in Arizona, Colorado, Kansas and Missouri. For more information, visit and follow us on LinkedIn, Facebook and Instagram. Member FDIC. 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Zawya
3 days ago
- Business
- Zawya
Japan could face potential power supply crunch in 2050, grid monitor says
Japan could face a big power shortfall in 2050 if demand surges and aging thermal power plants are not replaced and older nuclear plants are decommissioned, the country's power transmission operators said on Wednesday in a long-term forecast. For years Japan had predicted a drop in future electricity demand due to its shrinking population, but it has recently revised this outlook to reflect new demand from data centres and chip plants. Under the scenarios provided by the Organization for Cross-regional Coordination of Transmission Operators, Japan's electricity demand is projected to rise 2-25% by 2040 from 2019 before the COVID pandemic, and by 8-42% by 2050. One of the scenarios highlights an 89-gigawatt shortfall if demand reaches 1.25 terawatt-hours, the upper end of its demand forecast, in 2050. The group makes a 10-year forecast every year, but this is the first time it has produced a longer-term projection. Its general manager Shinpei Konishi told reporters the forecast was released "to enhance predictability for power operators and other stakeholders planning investments." The scenarios incorporate input from three expert organisations as well as feedback from energy industry groups and companies, and include kilowatt-hour gap analyses estimating how much thermal power would be needed to meet reserve margin requirements. The outlook reflects expected growth from expanding data centres, networks, semiconductor production, and vehicle electrification, Konishi said. In general, power industry experts are divided on how much the AI boom will increase electricity demand and the group's current forecasts also vary considerably. Among 16 scenarios for 2050, the largest projected shortfall - 89 GW - occurs under a high-demand case assuming no replacement of aging thermal power plants and decommissioning of nuclear plants more than 60 years old. Even with full replacement of thermal and nuclear capacity, a 23 GW shortfall remains under the same demand conditions. In contrast, a low-demand scenario with plant replacements shows a surplus of 12 GW. Each model assumes a summer nighttime scenario, when solar output drops and cooling demand peaks, representing the most severe conditions. The group forecasts renewable energy capacity to increase to between 170 GW and 260 GW in 2050. Japan's latest energy plan projects power generation to grow 12%-22% from 2023 levels to 1,100-1,200 TWh in 2040. The grid group's forecast sees demand reaching 900-1,100 TWh that year. It noted that its scenarios are not aligned with the government's energy plan, as they serve different purposes. (Reporting by Yuka Obayashi. Editing by Jane Merriman)
Boston Globe
4 days ago
- Business
- Boston Globe
Elizabeth Warren blasts regulators' potential bank leverage-rule changes
Advertisement Warren said the economy already faces risks from President Donald Trump's 'chaotic tariff policies.' In April, Trump's tariffs rattled the markets, sharpening investors' focus on the standards. The Fed received the letter and plans to respond, according to a spokesperson. Representatives for the OCC and FDIC declined to comment. The plan is expected to lower a bank holding company's capital requirement under the eSLR to a range of 3.5 percent to 4.5 percent, down from the current 5 percent. The firms' banking subsidiaries would also likely see their requirement reduced to the same range, down from the current 6 percent. The Fed's plan would ask for comments on whether the agencies should carve out Treasuries and other assets from the leverage ratio calculation. Advertisement Bowman said earlier this month that leverage ratios are intended to act as a 'backstop' to risk-based capital requirements and when it becomes the binding constraint at an excessive level it can lead to market distortions. Fed Chair Jerome Powell has supported possible revisions to the supplementary leverage ratio standards and in February told lawmakers that he had been 'somewhat concerned about the levels of liquidity in the Treasury market' for a long time. Warren said Treasuries are not completely free of risk and banks should not be permitted to finance those investments with unlimited leverage. 'Banks' own actions, and a clear record of evidence, demonstrate that concerns over a strong eSLR are more related to big banks' ability to make payouts to shareholders and executives than their ability to act as a source of strength to the economy during periods of stress,' the Massachusetts Democrat said.
