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News Now

Washington
Inside Washington (08/31/2011)
* WASHINGTON (9/1/11)--The U.S. Treasury Department announced Wednesday that it has awarded an additional 50 community banks across the country a total of $767 million as part of the newest wave of funding provided through the Small Business Lending Fund (SBLF), established as part of the Small Business Jobs Act. With this newest allotment of funds, a total of 130 community banks have now received more than $1.8 billion in SBLF funding. Additional SBLF funding announcements will be made on a rolling basis in the weeks ahead … * WASHINGTON (9/1/11)--Federal Reserve officials considered possible actions to stabilize financial markets if Congress did not lift the debt ceiling by its Aug. 2 deadline, according to minutes released Tuesday by the Federal Open Market Committee of its Aug. 9 meeting. Officials met via videoconferencing Aug. 1 (American Banker Aug. 31). The Fed did not specify what actions it would have taken to stabilize markets. Meeting participants agreed any response would have to be considered against unfolding events. “With respect to potential policy actions, participants agreed that the appropriate response would depend importantly on the actual conditions in markets and should generally consist of standard operations,” the minutes said …


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