History of the Federal Reserve System

Century Next Financial Corporation Reports Strong Results for 3rd Quarter 2023

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Giovedì, Ottobre 19, 2023

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RUSTON, La., Oct. 19, 2023 (GLOBE NEWSWIRE) -- Century Next Financial Corporation (the “Company”) (OTCQX: CTUY), the holding company of Century Next Bank, with $716.5 million in assets, today announced financial results for the 3rd quarter ended September 30, 2023.

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RUSTON, La., Oct. 19, 2023 (GLOBE NEWSWIRE) -- Century Next Financial Corporation (the “Company”) (OTCQX: CTUY), the holding company of Century Next Bank, with $716.5 million in assets, today announced financial results for the 3rd quarter ended September 30, 2023.
This growth continued to provide added strength to the Company’s liquidity position during the nine months ending September 30, 2023.
Noninterest-bearing checking increased $120.1 million and interest-bearing checking accounts increased $2.1 million for the nine months ended September 30, 2023.
Century Next Financial Corporation is the holding company for Century Next Bank (the “Bank”) which conducts business from its main office in Ruston, Louisiana.

Sterling Bancorp Reports Third Quarter 2023 Financial Results

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Mercoledì, Ottobre 25, 2023

Sterling Bancorp, Inc. (NASDAQ: SBT) (“Sterling” or the “Company”), the holding company of Sterling Bank and Trust, F.S.B.

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Sterling Bancorp, Inc. (NASDAQ: SBT) (“Sterling” or the “Company”), the holding company of Sterling Bank and Trust, F.S.B.
(the “Bank”), today reported its unaudited financial results for the third quarter ended September 30, 2023.
The net interest margin of 2.62% for the third quarter of 2023 decreased slightly from the net interest margin of 2.64% for the second quarter of 2023.
Non-Interest Expense – Non-interest expense of $17.7 million for the third quarter of 2023 reflected an increase of $0.4 million, or 2%, compared to the second quarter of 2023.

The Federal Reserve Takes Bold Step in Exploring Central Bank Digital Currencies

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Lunedì, Settembre 11, 2023

TAMPA, Fla., Sept. 11, 2023 /PRNewswire-PRWeb/ -- As a leader in fintech, Eaton is always looking toward future innovations in digital technology. However, she cautions, "With the lightning-fast pace of tech development and innovation, there needs to be an investment in infrastructure before its universal adoption. And, while digital currency has been around for over a decade, it is still in its beta-testing phase, especially when it comes to meeting consumer protection expectations."

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The Federal Reserve, the central bank of the United States, is actively delving into the realm of Central Bank Digital Currencies (CBDCs) with an eye toward revolutionizing financial systems and improving accessibility to digital transactions.
The Federal Reserve Act of 1913 established the Federal Reserve System as the central bank in the United States.
(1)
A central bank digital currency (CBDC) is a digital form of a country's currency issued and backed by the central bank.
Among them, 26% were conducting CBDC pilots, and over 60% were engaged in experiments or proofs-of-concept related to digital currencies.

ZTO Reports Second Quarter 2023 Unaudited Financial Results

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Martedì, Agosto 29, 2023

SHANGHAI, Aug. 29, 2023 /PRNewswire/ -- ZTO Express (Cayman) Inc. (NYSE: ZTO and SEHK: 2057), a leading and fast-growing express delivery company in China ("ZTO" or the "Company"), today announced its unaudited financial results for the second quarter ended June 30, 2023[1]. The Company grew parcel volume by 23.8% year over year and expanded market share to 23.5%. Adjusted net income increased 43.9%[2] to reach RMB2,531.0 million. Cash generated from operating activities was RMB3,761.6 million.

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Other costs were RMB952.4 million (US$131.3 million), a decrease of 13.9% from RMB1,105.6 million in the same period last year.
Reconciliations of the Company's non-GAAP financial measures to its U.S. GAAP financial measures are shown in tables at the end of this earnings release, which provide more details about the non-GAAP financial measures.
ZTO encourages investors and others to review the Company's financial information in its entirety and not rely on a single financial measure.
ZTO's management team will host an earnings conference call at 8:30 PM U.S. Eastern Time on Tuesday, August 29, 2023 (8:30 AM Beijing Time on August 30, 2023).

Money20/20 USA Unveils Speaker Line Up

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Martedì, Agosto 22, 2023

Money20/20 , the world’s leading fintech show, and the place where money does business, unveils its agenda for the upcoming US show in Las Vegas, Oct 22-25.

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Money20/20 , the world’s leading fintech show, and the place where money does business, unveils its agenda for the upcoming US show in Las Vegas, Oct 22-25.
Over 300 industry leading speakers are expected to join Money20/20 USA this year.
Some key themes of the sessions and content include current trust challenges in finance and the need for regulatory clarity.
We are also highlighting infrastructure and the need to focus on building utility reflecting a new phase for the industry.

Dubai FinTech Summit Concludes with 5,300 visitors; confirms second edition for May 2024

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Mercoledì, Giugno 21, 2023

As the population transitions from cash to digital payment methods, the inaugural Dubai FinTech Summit highlighted the importance of accelerated investment in digital banking services, e-commerce websites, and contactless payments.

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As the population transitions from cash to digital payment methods, the inaugural Dubai FinTech Summit highlighted the importance of accelerated investment in digital banking services, e-commerce websites, and contactless payments.
"It's been incredible to witness the Dubai FinTech Summit succeed in becoming a powerful platform for showcasing innovation, developing meaningful dialogue around the issues and challenges facing our industry and creating engagement on the future of FinTech, all in its maiden edition.
We have marked a significant milestone for FinTech in the region, as Dubai emerges as a leading hub for innovation and entrepreneurship," said Mohammad AlBlooshi, CEO of DIFC Innovation Hub.
Looking ahead, the second edition of Dubai FinTech Summit promises greater impact, shaping the future of FinTech in the region.

Century Next Financial Corporation Reports Results for 2nd Quarter 2023

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Venerdì, Luglio 28, 2023

Michael J. Hsu, Comptroller, History of the Federal Reserve System, FDIC, Sale, Currency, Next, CECL, Bloomberg L.P. v. Board of Governors of the Federal Reserve System, Growth, EPS, Bank, Federal Open Market Committee, Federal Reserve, Family, News, Federal Reserve Board of Governors, Cryptocurrency

Century Next Financial Corporation (the “Company”) (OTCQX: CTUY), the holding company of Century Next Bank, with $699.5 million in assets, today announced financial results for the 2nd quarter ended June 30, 2023.

Key Points:

Century Next Financial Corporation (the “Company”) (OTCQX: CTUY), the holding company of Century Next Bank, with $699.5 million in assets, today announced financial results for the 2nd quarter ended June 30, 2023.
Net income and earnings per share improved for the quarter- and year-to-date periods ending June 30, 2023 compared to the same periods ending June 30, 2022.
Noninterest-bearing checking increased $96.4 million and interest-bearing checking accounts increased $1.9 million for the six months ended June 30, 2023.
Century Next Financial Corporation is the holding company for Century Next Bank (the “Bank”) which conducts business from its main office in Ruston, Louisiana.

Banner Corporation Reports Net Income of $39.6 Million, or $1.15 Per Diluted Share, for Second Quarter 2023; Declares Quarterly Cash Dividend of $0.48 Per Share

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Mercoledì, Luglio 19, 2023

Net interest income was $142.5 million in the second quarter of 2023, compared to $153.3 million in the preceding quarter and $129.0 million in the second quarter a year ago.

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Net interest income was $142.5 million in the second quarter of 2023, compared to $153.3 million in the preceding quarter and $129.0 million in the second quarter a year ago.
At June 30, 2023, Banner Corporation had $15.58 billion in assets, $10.33 billion in net loans and $13.10 billion in deposits.
Return on average assets was 1.02%, compared to 1.44% in the preceding quarter and 1.16% in the second quarter a year ago.
Net interest income was $142.5 million in the second quarter of 2023, compared to $153.3 million in the preceding quarter and $129.0 million in the second quarter a year ago.

Discover Financial Services Announces Transition of USD LIBOR-based Securities to Term SOFR and SOFR Spread-adjusted Swap Rates

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Venerdì, Giugno 30, 2023

Following the FCA’s announcement, IBA announced on November 14, 2022, that it will cease publication of all USD LIBOR ICE Swap Rate settings based on USD LIBOR immediately after the Cessation Date.

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Following the FCA’s announcement, IBA announced on November 14, 2022, that it will cease publication of all USD LIBOR ICE Swap Rate settings based on USD LIBOR immediately after the Cessation Date.
Alternative Reference Rates Committee (“ARRC”) recommended a specific formula to determine the fallback rate for USD LIBOR Swap Rates.
On April 13, 2023, IBA announced that it intends to publish SOFR Spread-adjusted Swap Rates calculated in this manner starting on June 30, 2023, for use by market participants.
Each of the LIBOR-based Securities will transition to a replacement rate as described herein.

Shell International Finance B.V. Announces CME Term SOFR as Replacement Reference Rate for Outstanding U.S. Dollar Libor-Linked Securities

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Mercoledì, Giugno 28, 2023

ANNOUNCES CME TERM SOFR AS REPLACEMENT REFERENCE RATE FOR OUTSTANDING U.S. DOLLAR LIBOR-LINKED SECURITIES

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ANNOUNCES CME TERM SOFR AS REPLACEMENT REFERENCE RATE FOR OUTSTANDING U.S. DOLLAR LIBOR-LINKED SECURITIES
The Hague, Netherlands, June 28, 2023 – Shell International Finance B.V. (“Shell International”), has outstanding floating rate debt, being $500,000,000 Floating Rate Guaranteed Notes due 2023 (ISIN: US822582CA82), that are governed by New York law, for which U.S. dollar LIBOR (“USD LIBOR”), for three-month tenor, serves as the benchmark rate used in connection with the calculation or determination of applicable interest payments (the “USD LIBOR Notes”).
In this release “Shell”, “Shell Group” and “Group” are sometimes used for convenience where references are made to Shell plc and its subsidiaries in general.
‘‘Subsidiaries’’, “Shell subsidiaries” and “Shell companies” as used in this release refer to entities over which Shell plc either directly or indirectly has control.
The term “Shell interest” is used for convenience to indicate the direct and/or indirect ownership interest held by Shell in an entity or unincorporated joint arrangement, after exclusion of all third-party interest.