Throughout the last year, a lot of big banks have been stocking away more cash to cover bad loans. But even though banks are concerned about the broader economy, they're still trying to make loans where they can.
The rules were updated by several federal regulators this week, including the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency.
Regional lender New York Community Bancorp swapped out its CEO last week following the revelation of what it called “material weaknesses in the company’s internal controls.
Rising interest rates have cranked up the interest banks are paying depositors. But banks also have a lot of cash stuck in low-interest bonds and loans they made before the Federal Reserve started raising interest rates.
