In remarks at ABA’s Summer Leadership Meeting in Salt Lake City today, Federal Reserve Vice Chairman for Supervision Randal Quarles signaled that the Fed would act sooner than required by S. 2155 to tailor prudential standards for banks between $100 billion and $250 billion in assets.

The Federal Reserve will move to implement the provisions of S. 2155 -- the new regulatory reform law -- as quickly as possible, Federal Reserve Chairman Jerome Powell said in testimony before the Senate Banking Committee today.

The largest U.S. banks collectively showed that they can withstand a severe economic downturn and continued to improve their capital positions, according to the results of Dodd-Frank Act-mandated stress tests the Federal Reserve released yesterday. 

As economic conditions continue to improve -- with a robust labor market, inflation moving closer to the 2 percent target and growth exceeding most long-term estimates -- the Federal Reserve expects to continue pursuing its course of gradual increases to the federal funds rate, Chairman Jerome Powell said in a speech today. 

The Senate Banking Committee today voted 18-7 to advance the nomination of Michelle Bowman to fill the designated community bank seat on the Federal Reserve Board of Governors.

While the Federal Reserve continues to pursue a course of gradual increases to the target federal funds rate, Federal Reserve Governor Lael Brainard cautioned that economic uncertainties -- including the long-term effects of tax cuts on inflation and potential changes to U.S. trade policy -- could cause the Fed to change the timing and pace of future hikes.

Small business performance and financing success rates improved in 2017, according to the latest Small Business Credit Survey -- a joint effort by the 12 regional Federal Reserve Banks -- released today.

Outstanding household debt increased by 0.5 percent in the first quarter of 2018, rising by $63 billion to land at $13.21 trillion, the Federal Reserve Bank of New York said yesterday.

In remarks at a Harvard Law School event today, Federal Reserve Vice Chairman for Supervision Randal Quarles signaled that the Fed and the FDIC will revisit the capital and liquidity requirements in place for the largest U.S. and foreign firms and will seek public input on current “living will” guidance.

ABA earlier this week joined three other financial trade groups in offering support for a Federal Reserve proposal to harmonize Regulation J -- which governs the collection of checks or other items by Federal Reserve banks and funds transfers through Fedwire -- with Regulation CC, which implements the Expedited Funds Availability Act.