Daily Brief · November 10, 2026
Fed's Waller backs December rate hike, considers larger move
He would consider a half-point increase if October inflation is at least 0.3%. Christopher Waller's position comes as federal funds futures already price in a high probability of a December increase.
- December hike odds
- >84%Monday close
Policy
ABA seeks broader relief in proposed insider-lending rules
The banking associations object to excluding bank-affiliated fund complexes from the proposed relief. The American Bankers Association and ABA Securities Association support the Fed and FDIC's Regulation O update but say its proposed exception for other-purpose loans could constrain executive-officer home-equity lending.
- Loan exception threshold
- $400,000proposed
Credit
SYF Synchrony reports lower net charge-offs but flat recovery-adjusted losses
October's net charge-off rate declined to 4.4% from 4.7% in September, but recovery-adjusted net charge-offs remained unchanged at 4.6%. The over-30-day delinquency rate rose to 4.4% from 4.3%.
BankAnalysis data · September 30
Synchrony Bank against 7 analyst-selected peers
| Metric | Bank | PeersPeer median | Year ago | |
|---|---|---|---|---|
| Net charge-offs / loans, year to date | 5.27% | 2.03% | 5.82% | |
| Noncurrent loans / loans | 2.10% | 0.88% | 2.16% | |
| Allowance / loans | 10.09% | 4.40% | 10.45% | |
| Tier 1 leverage ratio | 12.51% | 10.31% | 12.57% |
BPOP Popular records an additional $38 million credit-loss provision
The provision followed a Banco Popular de Puerto Rico restaurant-industry borrower's cessation of substantial operations and bankruptcy filing.
BankAnalysis data · September 30
Banco Popular de Puerto Rico: its own figures
| Metric | Bank | Year ago |
|---|---|---|
| Net charge-offs / loans, year to date | 1.12% | 0.73% |
| Noncurrent loans / loans | 2.28% | 2.43% |
| Allowance / loans | 2.42% | 2.57% |
| Tier 1 leverage ratio | 7.43% | 7.47% |
$38 million measured against Banco Popular de Puerto Rico
- Of Q3 provision ($62M)
- 61%
- Of Q3 net income ($214M)
- 18%
- Of loan-loss allowance ($682M)
- 5.6%
Deals and capital
MS Morgan Stanley agrees to acquire transfer agent Vinyl Equity
The purchase would bring IPO-related share transfers in-house. Vinyl Equity would add transfer-agent capabilities to Morgan Stanley at Work alongside equity administration and ownership-record management; financial terms were not disclosed.
Other
PNC PNC pilots incoming USDC payments with Coinbase
Eligible corporate and institutional clients can receive USDC payments that are automatically converted into dollars and deposited in their PNC accounts.
Also today
- Chicago Fed President Goolsbee warned AI investment could fuel inflation and warrant tighter monetary policy.American Banker
- ABA urged Congress to repeal the brokered-deposit statute, citing higher bank costs and funding constraints.ABA Banking Journal
- New York Fed reported consumers’ perceived risk of missing debt payments rose to 13.8%.ABA Banking Journal
- ICE reported 2.4 million mortgage holders have at least $1 million in home equity.Business Wire
- The Fed approved MFB Bancorp’s acquisition of Mutual Federal as part of a holding-company reorganization.Federal Reserve Board