BofA Takes a $1.6 Billion Charge Tied to LIBOR Transition

Comerica Inc. will take a charge of $91 million in non-interest income from a similar accounting change tied to the index being discontinued.

By Katherine Doherty | January 09, 2024 at 09:36 AM

Photo: A Bank of America branch in Austin, Texas.

Bank of America Corp. took a roughly $1.6 billion charge tied to the finance industry's shift away from the London Interbank Offered Rate (LIBOR) benchmark, a cost the company said will eventually be made up as income.

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Yields on New China Dollar Bonds Fall Below Treasuries in Debut

By Ameya Karve, Finbarr Flynn and Lorretta Chen | November 18, 2024

Chinese investors’ enthusiasm is helping China’s dollar bonds trade at lower yields than U.S. Treasuries—a historical anomaly because the U.S. securities have historically been considered the safest of investments.

Yields on New China Dollar Bonds Fall Below Treasuries in Debut

‘Rates Will Be a Lot Lower’ in 12 to 18 Months

By Catarina Saraiva and Laura Curtis | November 18, 2024

Chicago Federal Reserve President Austan Goolsbee says that although the Fed will take its time reducing interest rates, the end result will be much lower rates if inflation stays near the Fed’s target.

‘Rates Will Be a Lot Lower’ in 12 to 18 Months

Producer Prices Rise, Risking Pressure in Fed’s Favored Gauge

By Vince Golle | November 14, 2024

In October, the PPI rose 2.4% year-over-year.

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