Federal Reserve

Fed asking why banks aren't lending more

12/02/20

Vice Chairman of Supervision Randal Quarles said the agency wants to figure out why banks are holding on to capital that could be used more aggressively to respond to the pandemic.

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As Congress weighs new stimulus, senators spar over old one's demise

12/01/20

Tuesday's hearing on the CARES Act was dominated by bickering over Treasury's decision to shut down the Fed's emergency lending facilities, drowning out pleas from some lawmakers for more aid.

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Regulators warn banks against using Libor in new contracts

11/30/20

The OCC, Federal Reserve and FDIC said that a failure to adequately prepare for the transition away from Libor could undermine banks' safety and soundness, but also extended the sunset date for many iterations of the interest rate benchmark to July 2023.

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Fed, Treasury agree to extend four lending facilities to March 31

11/30/20

The central bank will prolong the life of the Commercial Paper Funding Facility and three other programs while returning congressionally approved funds for five separate facilities that will shut down Dec. 31.

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Yellen at Treasury could resuscitate Fed’s loan programs

11/24/20

The Trump administration has compelled the Federal Reserve to shut down the Main Street Lending Program and other facilities that aid banks’ pandemic relief efforts, but President-elect Biden’s Treasury nominee could help turn the spigot back on.

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Biden plans to nominate Janet Yellen for Treasury secretary

11/23/20

Yellen, the former head of the Federal Reserve, would become the first woman to hold the nation’s top economic policy job just as the coronavirus pandemic threatens another downturn.

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Regulators grant relief to banks pushed past key asset limits by PPP

11/20/20

Participation in the Paycheck Protection Program and other emergency lending during the pandemic has swelled many small banks’ balance sheets. Federal regulators are giving them a temporary pass on supervisory requirements tied to their size.

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Fed to return lending-backstop funds to Treasury as requested

11/20/20

The move comes a day after the Federal Reserve had balked at the Treasury Department's demand that it return funds meant for pandemic relief that have so far gone unused.

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Congress splits along party lines over move to end Fed facilities

11/20/20

Democrats called the decision by Treasury Secretary Steve Mnuchin "misguided," arguing that it's too soon to shutter the Federal Reserve's emergency-lending programs. Republicans say the programs have run their course and should expire a the end of the year.

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Treasury wants CARES Act programs to expire. Fed says not so fast.

11/19/20

Treasury Secretary Steven Mnuchin called on the Federal Reserve Thursday to let several of its emergency lending facilities expire at yearend and return unused funds provided by Congress. But the central bank wants the programs to continue.

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