Fix the frame, wipe the glass
Recent experience, particularly with the Bank Term Funding Program, shows how to improve the functioning of the Fed’s discount window and strengthen financial stability.
Recent experience, particularly with the Bank Term Funding Program, shows how to improve the functioning of the Fed’s discount window and strengthen financial stability.
Federal banking agencies will grant temporary exceptions to Financial Institutions Reform, Recovery and Enforcement Act appraisal requirements for real estate-related financial transactions in areas of Maui affected by last year’s Hawaiian wildfires.
The final rule is intended to address changes to the operational risk, technology and landscape in which FMUs operate that have taken place since the requirements were last updated in 2014.
ABA expressed support for two House bills, one seeking to clarify standards for UDAAP enforcement actions brought by the CFPB, and the other requiring the Federal Reserve to fully examine the economic effects of reving Regulation II to lower the cap on debit card interchange.
Liquidity regulation has the potential to impose significant costs and limit the lending capacity and business operations of banks, which must be taken into account before imposing any new requirements, Federal Reserve Governor Michelle Bowman said.
Overall economic activity increased slightly since January, with eight of the 12 Federal Reserve districts reporting slight to modest growth in activity.
Federal Reserve Chairman Jerome Powell said that he expects there will be “broad and material” changes to the proposed Basel III endgame capital standards before they are finalized.
Federal Reserve regulators get “a failing grade” for their policy response to last year’s bank failures, House Financial Services Committee Chairman Rep. Patrick McHenry (R-N.C.) said.
At 5.25% to 5.5%, the target range for the federal funds rate has likely reached its peak in a cycle of policy tightening that began in early 2022, the Federal Reserve said in the first of its biannual reports to Congress on monetary policy.
Do we take the FOMC at its word or focus on the Fed’s repo borrowing program?