Banking and credit

FILE - In this Monday, March 16, 2020, file photo, pedestrian traffic is light along Wall Street in Lower Manhattan in New York. The banking system is not as risk of failing as banks have plenty of capital on hand to handle this crisis due to the new coronavirus, economists say. (AP Photo/Craig Ruttle, File)
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March 24, 2020 - 2:44 pm
NEW YORK (AP) — Tarred as villains during the 2008 financial meltdown, banks of all sizes are trying to help out Americans reeling from the economic crisis caused by the coronavirus outbreak. Banks are scrambling to put into place loan forgiveness and relief programs, working to keep their...
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FILE - In this Tuesday, March 3, 2020 file photo, Federal Reserve Chair Jerome Powell pauses during a news conference to discuss an announcement from the Federal Open Market Committee, in Washington. In a series of sweeping steps, the U.S. Federal Reserve will lend to small and large businesses and local governments as well as extend its bond buying programs. The announcement Monday, March 23 is part of the Fed's ongoing efforts to support the flow of credit through an economy ravaged by the viral outbreak. (AP Photo/Jacquelyn Martin, File)
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March 23, 2020 - 9:09 pm
WASHINGTON (AP) — The Federal Reserve is unleashing its boldest effort yet to protect the U.S. economy from the coronavirus by helping companies and governments pay their bills and survive a devastating crisis. With lending in Treasury and mortgage markets threatening to shut down, the Fed...
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Senate Majority Leader Mitch McConnell of Ky., is followed by reporters and staff as he leaves a meeting on Capitol Hill in Washington, Friday, March 20, 2020, to work on an economic package to deal with the coronavirus. (AP Photo/Susan Walsh)
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March 23, 2020 - 9:36 am
WASHINGTON (AP) — In the fall of 2008, an unlikely alliance of lawmakers, regulators and Bush administration officials banded together to rescue an economy they feared was hours away from collapse. They also unwittingly reshaped American politics, unleashing a populist furor that lingers in both...
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In this photograph taken Thursday March 19, 2020 , A woman spills water at squatter camp in Soweto, South Africa. Some countries around the world lack the equipment and trained health workers to respond to the threat of COVID-19 virus. For most people the virus causes mild or moderate symptoms, but for others it causes severe illness. (AP Photo/Themba Hadebe)
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March 22, 2020 - 5:23 am
LONDON (AP) — To offset the crushing costs of trying to stem a global epidemic, the World Bank and partners announced the creation of “pandemic bonds” several years ago: the idea was to leverage private capital from Wall Street firms that would help stricken poor countries. But since the bonds were...
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FILE - This Wednesday, April 3, 2019, file photo shows a box filled with dollar bills, in New York. A growing number of businesses and individuals worldwide have stopped using banknotes in fear that physical currency, handled by tens of thousands of people over their useful life, could be a vector for the spreading coronavirus.(AP Photo/Mark Lennihan, File)
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March 20, 2020 - 12:25 pm
NEW YORK (AP) — In a world suffering a pandemic, cash is no longer king. A growing number of businesses and individuals worldwide have stopped using banknotes in fear that physical currency, handled by tens of thousands of people over their useful life, could be a vector for the spreading...
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This photo provided by the New York Stock Exchange, Thursday, March 19, 2020, shows trader Gregory Rowe, center, as he works on the trading floor. Stocks are see-sawing between gains and losses in midday trading on Wall Street Thursday, but the moves are more subdued than the wild jabs that have dominated recent weeks. (NYSE Photo by Alyssa Ringler via AP)
1010 WINS Newsroom
March 19, 2020 - 5:18 pm
NEW YORK (AP) — Stocks capped a wobbly day on Wall Street with solid gains Thursday, reflecting cautious optimism among investors that emergency action by the U.S. government and central banks will cushion the global economy from a looming recession caused by the coronavirus pandemic. The swings in...
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FILE - This June 13, 2019, file photo shows a new home is for sale in Mechanicsville, Va. On Thursday, March 12, 2020, U.S. long-term mortgage rates were mixed this week after hitting all-time lows last week amid anxiety over risks to the economy from the deepening coronavirus crisis. (AP Photo/Steve Helber, File)
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March 19, 2020 - 1:06 pm
WASHINGTON (AP) — U.S. long-term mortgage rates climbed this week in a whip-sawing market amid deepening anxiety over devastation to the economy from the coronavirus pandemic. Home loan rates had hit all-time lows two weeks ago. Mortgage buyer Freddie Mac reported Thursday that the average rate on...
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FILE - In this Feb. 5, 2018, file photo, the seal of the Board of Governors of the U.S, Federal Reserve System lies embedded in the floor at the Marriner S. Eccles Federal Reserve Board Building in Washington. The Federal Reserve announced late Wednesday, March 18, 2020, that it will establish an emergency lending facility to help unclog a short-term credit market that has been disrupted by the coronavirus outbreak. The Fed said it will lend money to banks that purchase financial assets from money market mutual funds, including short-term IOUs known as commercial paper. (AP Photo/Andrew Harnik, File)
1010 WINS Newsroom
March 19, 2020 - 5:56 am
Washington (AP) — The Federal Reserve announced that it will establish an emergency lending facility to help unclog a short-term credit market that has been disrupted by the viral outbreak. The Fed said late Wednesday that it will lend money to banks that purchase financial assets from money market...
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People wearing face masks travel by metro in Brussels, Wednesday, March 18, 2020. Belgium has ordered further lockdown measures starting Wednesday, following in the steps of European neighbours Italy, Spain and France. For most people, the new coronavirus causes only mild or moderate symptoms, such as fever and cough. For some, especially older adults and people with existing health problems, it can cause more severe illness, including pneumonia. (AP Photo/Francisco Seco)
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March 18, 2020 - 7:25 pm
FRANKFURT, Germany (AP) — The European Central Bank is launching a new, expanded program to buy financial assets in a bid to calm markets roiled by the virus outbreak and counter what is expected to be a recession in the 19 countries that use the euro currency. The purchases are aimed at keeping...
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FILE - In this March 3, 2020 file photo, Federal Reserve Chair Jerome Powell pauses during a news conference in Washington. The Federal Reserve says it will buy short-term loans from banks and companies to support the flow of credit as the economy grinds to a halt amid the viral outbreak. The Fed is reviving a program that it first used during the 2008 financial crisis to unclog a short-term lending market for what is known as “commercial paper.” (AP Photo/Jacquelyn Martin, File)
1010 WINS Newsroom
March 17, 2020 - 7:19 pm
WASHINGTON (AP) — The Federal Reserve put in motion two emergency lending programs Tuesday that were last deployed in response to the 2008 financial crisis, aiming to ease the flow of credit to businesses and households struggling amid the viral outbreak. The first, announced mid-morning, is...
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