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Markets
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Banks Price In Risk Following FEMA Flood Map Changes
A new study shows that when FEMA’s 2016 flood map revisions removed thousands of New Orleans homes from high-risk zones, banks quickly raised mortgage rates and down-payment requirements to compensate for the sudden loss of mandatory flood insurance.
Markets
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Fed Flags Life Insurers’ Leverage as Firms Deepen Private-Credit Exposure, but Insurers Say Risks Are Managed
The Federal Reserve warns life insurers’ leverage is at historically high levels, but executives say their balance sheets and private-credit exposures remain disciplined and capital-efficient.
