
-
Syria says deadly Israeli strikes a 'blatant violation'
-
Financial markets tumble after Trump tariff announcement
-
Starbucks faces new hot spill lawsuits weeks after $50mn ruling
-
Europe riled, but plans cool-headed response to Trump's tariffs
-
'Shenmue' voted most influential video game ever in UK poll
-
New coal capacity hit 20-year low in 2024: report
-
Revealed: Why monkeys are better at yodelling than humans
-
Key details on Trump's market-shaking tariffs
-
'A little tough love': Top quotes from Trump tariff talk
-
US business groups voice dismay at Trump's new tariffs
-
Grealish dedicates Man City goal to late brother
-
US tariffs take aim everywhere, including uninhabited islands
-
Trump sparks trade war with sweeping global tariffs
-
Israeli strikes hit Damascus, central Syria; monitor says 4 dead
-
Slot 'hates' offside rule that gave Liverpool win over Everton
-
US stocks end up, but volatility ahead after latest Trump tariffs
-
Barca oust Atletico to set up Clasico Copa del Rey final
-
Mourinho grabs Galatasaray coach's face after losing Istanbul derby
-
Grealish strikes early as Man City move up to fourth in Premier League
-
Reims edge out fourth-tier Cannes to set up PSG French Cup final
-
Liverpool beat Everton as title looms, Man City win without Haaland
-
Jota wins bad-tempered derby as Liverpool move 12 points clear
-
Inter and Milan level in derby Italian Cup semi
-
Stuttgart beat Leipzig to reach German Cup final
-
Trump unveils sweeping global tariffs
-
Italian director Nanni Moretti in hospital after heart attack: media
-
LIV Golf stars playing at Doral with Masters on their minds
-
Trump unveils sweeping 'Liberation Day' tariffs
-
Most deadly 2024 hurricane names retired from use: UN agency
-
Boeing chief reports progress to Senate panel after 'serious missteps'
-
Is Musk's political career descending to Earth?
-
On Mexico-US border, Trump's 'Liberation Day' brings fears for future
-
Starbucks faces new hot spill lawsuit weeks after $50mn ruling
-
Ally of Pope Francis elected France's top bishop
-
'Determined' Buttler leads Gujarat to IPL win over Bengaluru
-
US judge dismisses corruption case against New York mayor
-
Left-wing party pulls ahead in Greenland municipal elections
-
Blistering Buttler leads Gujarat to IPL win over Bengaluru
-
Tesla sales slump as pressure piles on Musk
-
Amazon makes last-minute bid for TikTok: report
-
Canada Conservative leader warns Trump could break future trade deal
-
British band Muse cancels planned Istanbul gig
-
'I'll be back' vows Haaland after injury blow
-
Trump to unveil 'Liberation Day' tariffs as world braces
-
New coach Edwards adamant England can win women's cricket World Cup
-
Military confrontation 'almost inevitable' if Iran nuclear talks fail: French FM
-
US stocks advance ahead of looming Trump tariffs
-
Scramble for food aid in Myanmar city near quake epicentre
-
American Neilson Powless fools Visma to win Across Flanders
-
NATO chief says alliance with US 'there to stay'

US banking system 'well-capitalized' despite risks: Yellen
US Treasury Secretary Janet Yellen said Thursday that the country's banking system is "well-capitalized" even as some banks face stresses stemming from the commercial real estate sector.
Yellen made the comments to a congressional hearing where she added that regulators are monitoring risks from nonbank mortgage lenders and authorities plan to tighten oversight on investment advisers.
Earlier this week, Yellen expressed concern about the commercial property sector, saying banking supervisors are working with institutions to manage challenges.
The concern is that as commercial real estate loans come due, they will have to be refinanced in an environment of higher interest charges, lower valuations and where vacancy rates are growing -- adding pressure on the system.
Vacancy rates in office buildings, especially in metropolitan areas, have surged, Yellen told the Senate Committee on Banking, Housing, and Urban Affairs on Thursday.
"There are some risks, and there are some institutions that will face stresses from commercial real estate," she said.
"For some banks, this will be a concern. But on balance I'd say the system is well-capitalized," she added.
At the hearing, Yellen also said regulators are eyeing risks related to nonbank mortgage lenders.
"Nonbank mortgage companies lack access to deposits which banks have, they're reliant on short-term financing that may be a lot less stable than deposits," she said.
Yellen added that their credit lines can be pulled during times of stress and that they also lack access to the types of liquidity backstops that banks have.
"There is concern that in stressful market conditions, we could see the failure of one of these," she said.
On Thursday, Yellen also noted that Treasury plans to issue a proposed rule applying requirements for anti-money laundering and countering terrorism financing on investment advisers.
"Investment advisers is a financial sector that hasn't been uniformly covered" by anti-money laundering and terrorism financing rules, according to the Treasury chief.
"Our risk assessment shows that that is an area that provides an avenue for sanctioned individuals, for criminals and the like, to move wealth and invest in the United States without the sources of their wealth being detected," she said.
C.Garcia--AMWN