Potential exposure to COVID-impacted industries has caused some firms to refocus on their capital preservation. A few bank holding companies have chosen to raise subordinated debt in an effort to strengthen existing capital at their subsidiary banks. Regardless of the rationale, here are a few reminders on handling subordinated debt.
The Federal Reserve’s FraudClassifierSM Model, developed by the Fraud Definitions Work Group, aims to develop consistency in the terminology used by the payments industry to describe payments fraud. Adoption of similar language to classify fraud types can facilitate better information sharing, enable consistent tracking and enhance customer education.
The Fed’s Main Street Lending Program is now fully operational and accepting submissions of eligible loans to nonprofit organizations. Registered lenders are encouraged to begin submitting qualifying loans to nonprofit organizations and to continue submitting loans to for-profit entities.
Stay up-to-date on COVID-19 preparedness and related actions supported by the Federal Reserve by bookmarking this often-updated resource list.
The National Federal Reserve Financial Services website presents the products and services available for institutions in the Fifth District.
Fraudulent solicitations related to COVID-19 are on the rise, including scams that reference the Fed. A Federal Reserve Bank will not contact anyone about suspicious activity in a commercial bank account. Find information and resources here to help you protect yourself while seeking assistance.
The Supervision News Flash helps you stay abreast of topics and trends affecting institutions in the Fifth Federal Reserve District.
