News Topic: Federal Reserve

The German bank’s money laundering controls are still not up to snuff, among other problems; three Democrats say banks may have shortchanged small-business borrowers. ... Read full article

The head of the U.S. central bank said its emergency credit programs were not designed to prop businesses up over the long term. ... Read full article

At a Senate hearing with all the bank regulators, Joseph Otting got an earful over his agency’s decision to move forward with Community Reinvestment Act reform during the pandemic. Lawmakers also urged the Fed to speed up the rollout of coronavirus relief ... Read full article

The central bank will disclose information on a monthly basis about its Term Asset-Backed Securities Loan Facility and its Paycheck Protection Program Liquidity Facility. ... Read full article

The Term Asset-Backed Securities Loan Facility is just one example of a fund that could be retooled. ... Read full article

The agency is being methodical in its rollout of the Main Street Lending Program in hopes of avoiding missteps that followed the launch of other coronavirus relief efforts. But observers say delaying aid brings its own risks. ... Read full article

The Federal Reserve also said in a supervisory report released Friday that it would conduct stress tests this quarter as planned, taking into account sudden deterioration in the economy brought on by the coronavirus pandemic. ... Read full article

The pandemic is taking a toll on tax receipts, leading the central bank to establish a municipal debt facility. Without a turnaround, the consequences for the financial system could be dire. ... Read full article

Regulators on both sides of the Atlantic have spent the better part of three years trying to kill the London interbank offered rate. Now, they're looking to it once again to underpin hundreds of billions of dollars in loans as they seek to rescue ... Read full article

Millions of Americans have yet to receive their stimulus checks, leading progressives to demand reforms improving underbanked consumers’ access to the financial system. ... Read full article

The agencies issued a rule to better enable banks to participate in two of the Federal Reserve’s lending facilities and “support the flow of credit to households and businesses.” ... Read full article

The central bank’s programs announced since mid-April in response to the coronavirus outbreak match if not exceed the actions it took during the 2007-9 financial crisis. ... Read full article

The Fed has tweaked its Main Street Lending Program to stir more enthusiasm, including the creation of a third financing option for larger companies. Will it make a difference? ... Read full article

Lenders implemented stricter underwriting across all loan types in the first quarter as the pandemic upended the economy, the Federal Reserve said in its survey of loan officers. ... Read full article

Some megabanks are pushing New York lawmakers to add a legal safe harbor if lenders use the new Secured Overnight Financing Rate. Smaller banks would have little choice but to take that option. ... Read full article

The joint statement on the risks of cloud computing summarizes years of guidance and rules as industry reliance on third-party platforms has become more ubiquitous. ... Read full article

There were few fireworks at Wells Fargo’s first annual meeting under new CEO Charlie Scharf; billionaire investor and entrepreneur Mark Cuban pitches Fed-backed overdraft protection; as hotels sit empty, loan delinquencies pile up; and more from this ... Read full article

Federal regulators are now conducting nearly all supervision off-site as a result of the pandemic. The temporary measures are stoking a debate about whether they should be permanent. ... Read full article