Federal Reserve

Powell’s Fed shifts to more relaxed approach to fight inflation

08/27/20

Federal Reserve Chair Jerome Powell announced a new approach to monetary policy Thursday that takes a more relaxed stance on inflation and on its view of how low U.S. unemployment can go.

[more]

Regulators finalize rule changes to help banks weather pandemic

08/26/20

The agencies completed steps to ease a community bank capital measure temporarily and to delay a new credit-loss accounting standard.

[more]

Will Citi snafu bring fresh scrutiny to custodial banks?

08/25/20

Citigroup’s $900 million payment blunder in a usually sleepy part of the financial market dominated by a handful of banks has experts wondering if regulators will uncover a deeper problem.

[more]

Does Fed already have the power to tackle racial inequality?

08/23/20

The Federal Reserve could ease capital rules, foster the creation of special-purppose banks and take other steps to strengthen minority communities and businesses without legislation being sought in Congress — if it has the will to do so, experts say.

[more]

Small banks are dominating the Fed's Main Street Lending Program

08/19/20

With big banks largely shunning the program, small banks see an opening to grab more market share in commercial lending.

[more]

Citigroup’s $900 million loan blunder to face OCC, Fed scrutiny

08/17/20

The bank has begun briefing regulators about how it mistakenly sent payments to creditors of Revlon, the financially strapped cosmetics company. Citi has also filed a lawsuit against Brigade Capital Management seeking to recoup $175 million it sent to Brigade on Revlon's behalf.

[more]

FedNow? More like FedLate.

08/17/20

The Fed's faster payments platform may well roll out in three or four years, but by then it will already be outdated.

[more]

Regulators issue guidance on AML enforcement actions

08/13/20

The federal banking agencies clarified that minor violations of Bank Secrecy Act rules will typically not result in a cease-and-desist order.

[more]

OCC's Brooks questions need for government-owned payment systems

08/13/20

Appearing to support decentralized systems, the acting comptroller of the currency said on a podcast that "the ultimate public ownership of the payment rails is when you have a network, like the internet, of interconnected institutions and computers."

[more]

Demand for Fed's Main Street loan program is growing, Rosengren says

08/12/20

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.

[more]