Federal Reserve

White House officials back economist Lisa Cook for Fed board

02/11/21

Economist Lisa Cook has the backing of several key White House officials and allies outside the administration as a possible choice for President Joe Biden in filling a vacancy on the Federal Reserve Board of Governors, according to people familiar with the matter.

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Fed’s aid program for midsize businesses spent only 3% of its total

02/09/21

The Federal Reserve’s Main Street Lending Program, which was designed to provide emergency support to midsize U.S. companies during the pandemic, lent out a total $17.5 billion — or just 3% of its potential capacity — according to data released Tuesday by the central bank.

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Biggest U.S. banks keep lending less and less of their money

02/08/21

The biggest U.S. banks reduced the portion of their collective balance sheets they’re dedicating to loans to a new low, extending a trend that’s seen the largest lenders put less and less of their firepower behind everyday borrowers.

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Get the transition to green financing right

02/05/21

Regulators are right to encourage environmentally responsible lending, but with the transition to a low-carbon economy likely to take decades, they can’t allow banks to cut off lending to polluting firms cold turkey — especially to those making good-faith efforts to lower emissions.

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Fed more bullish on launch of real-time payments service

02/02/21

The central bank aims to roll out FedNow sometime in 2023, which is more optimistic than its previous timetable. The official leading the project noted progress in developing the infrastructure and its compatibility with private-sector solutions.

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Pandemic watchdog is probing Mnuchin, Cruz roles in Fed lending

02/02/21

A federal watchdog is looking into former Treasury Secretary Steven Mnuchin’s decision to roll back the U.S. Federal Reserve’s emergency lending programs at the end of 2020, an issue that has become a point of partisan tension in Congress.

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Regulators extend comment period for First Citizens-CIT merger

01/29/21

The Federal Reserve said its decision to accept input for several more weeks reflects the logistical challenges presented by the coronavirus pandemic.

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Fed undecided on bank dividend cap in second quarter

01/27/21

Federal Reserve Chair Jerome Powell said the central bank will consider the pace of coronavirus vaccinations and other factors to determine if restrictions on dividends and share repurchases will continue.

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Fed’s Beige Book shows modest U.S. recovery as job growth slows

01/13/21

U.S. economic activity increased modestly at the end of 2020 while hiring slowed amid resurgent infections and new restrictions, even as vaccinations got underway, the Federal Reserve said.

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Agencies may issue information request on AI adoption, Fed official says

01/12/21

Federal Reserve Gov. Lael Brainard said regulators are seeking to "understand the potential benefits and risks" from utilizing artificial intelligence in the financial services sector.

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