Fed Releases Audited Financial Statements
The Federal Reserve today released 2018 financial statements—independently audited by KPMG—for the combined system, including the 12 Federal Reserve Banks and the Board of Governors.
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Fed Chairman Powell: U.S. Financial System ‘Strong, Resilient’
The nation’s financial system is “strong and resilient” overall, Federal Reserve Chairman Jerome Powell told members of the Senate Banking Committee today.
Senators Call for GAO Review of Fed’s Large Bank Guidance
A group of five senators — including Senate Banking Committee Chairman Mike Crapo (R-Idaho) — today wrote to the Government Accountability Office calling for a review of Federal Reserve guidance on large bank supervision.
Fed Reports on Economic Developments, Financial Stability
The Federal Reserve on Friday issued its semiannual monetary policy report, just ahead of Fed Chairman Jerome Powell’s testimony before the Senate Banking Committee next week.
Household Debt Ticks Up
Outstanding household debt increased by 0.2 percent in the fourth quarter of 2018, rising by $32 billion to land at $13.54 trillion, the Federal Reserve Bank of New York reported today.
ABA Offers Feedback on Reg CC Proposal
In a letter to the Consumer Financial Protection Bureau and the Federal Reserve today, ABA offered feedback on the Fed’s 2011 proposal regarding funds availability under Reg CC, which was reopened for comment in November.
Agencies Issue Advisory on Education Loan Rehabilitation Programs
The Federal Reserve and FDIC today issued an advisory on voluntary private education loan rehabilitation programs to alert banks to an amendment to the Fair Credit Reporting Act that was included in the S. 2155 regulatory reform law.
Fed Governor Michelle Bowman to Speak at ABA Community Bankers Conference
Federal Reserve Governor Michelle Bowman will join ABA President and CEO Rob Nichols for a conversation on the current state of community banking at ABA’s upcoming Conference for Community Bankers, Feb. 10-13 in San Diego.
Fed Pays $65.4 Billion to Treasury
The Federal Reserve System paid $65.4 billion out of its annual net income to the U.S. Treasury in 2018, according to figures released today.