News Topic: Federal Reserve Bank of Boston
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Boston Fed, MIT see value in code with digital-dollar potential
Washington should sit out search for regional Fed chiefs: GOP senators
Fed's focus on racial justice is 'political advocacy,' GOP senator says
Fed official backs using capital buffer to reduce impact of future crises
Fed's Rosengren: Pre-pandemic low rates worsened current downturn
Federal Reserve Bank of Boston President Eric Rosengren said the long period of low interest rates before the coronavirus pandemic is contributing to the depth of the current recession. ... Read full article
Small banks are dominating the Fed's Main Street Lending Program
With big banks largely shunning the program, small banks see an opening to grab more market share in commercial lending. ... Read full article
Demand for Fed's Main Street loan program is growing, Rosengren says
The head of the Federal Reserve Bank of Boston said the central bank had acquired stakes in 32 business loans as of Monday, four times the amount from two weeks earlier. ... Read full article
Oversight panel questions value of Fed loan program for midsize firms
At its inaugural hearing, the committee appointed by lawmakers to oversee CARES Act implementation pressed for answers about why the Main Street Lending Program is off to such a slow start. ... Read full article
Lenders face quandary over offering Main Street loans to noncustomers
Many big banks say they will focus on existing customers in offering credit through the Federal Reserve’s emergency lending program for midsize businesses. Complex vetting and fear of being inundated are said to be among their concerns. ... Read full article
Main Street program starts slowly; DOJ probing Wirecard for bank fraud
But Boston Fed chief sees more interest among banks and borrowers if the economy worsens; the failed payments company is being investigated for its alleged role in a $100 million caper. ... Read full article
Fed to start buying loan stakes in coronavirus rescue program
Banks participating in the Main Street Lending Program were able to register for and offer credit to businesses last month, but the Federal Reserve said Monday it was set to make the effort fully operational. ... Read full article
Rosengren's Main Street pitch to banks: Get in it for long haul
Participation in the Main Street Lending Program for midsize companies is partly about public service, but the core business rationale is building "a banking relationship that continues on for some time," the Boston Fed chief says. ... Read full article
Why bankers remain unsold on Fed's Main Street program
Worried about a lack of demand and that some of their customers are ineligible, community banks are still on the fence about participating in the effort to back loans for businesses recovering from the pandemic crisis. ... Read full article
Fed invites lenders to sign up for Main Street Lending Program
Financial institutions interested in participating “are encouraged to begin making ... loans immediately,” the central bank said. ... Read full article
Fed takes big step toward launch of Main Street Lending Program
The Federal Reserve Bank of Boston published details on the terms for lenders and borrowers to participate in the facility intended to provide coronavirus relief funds to middle-market firms. ... Read full article
Fed's Rosengren sees Main Street loans within next two weeks
Federal Reserve Bank of Boston President Eric Rosengren said he expects companies to begin receiving money through the central bank's long-awaited Main Street Lending Program within two weeks. ... Read full article
Fed expands reach of new credit facility to muni bond market
The central bank said its program to support money market mutual funds will also serve as a backstop for state and local governments. ... Read full article
WeWork problems highlight risks coworking poses for banks
The firm’s financial woes are mostly a result of overspending, but they have raised questions about how banks’ commercial real estate portfolios might fare if the coworking sector implodes. ... Read full article
Fed names leader for development of real-time payment system
Kenneth Montgomery, a top executive at the Federal Reserve Bank of Boston, will head the push to make faster payments available across the industry in the next four to five years. ... Read full article