Fed Finalizes Conforming Changes to Capital Plan Rule
The Federal Reserve today finalized a rule making changes to its capital planning requirements that…
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CDIAC Urges Fed to Proceed with Caution on Non-Traditional Bank Access to Payments System
Members of the Federal Reserve’s Community Depository Institution Advisory Council urged the Fed to “be cautious in its approach to allowing non-traditional banks direct access to the payment system” during a recent meeting, flagging recent attempts by several non-bank entities to obtain state or national banking charters that would allow them to circumvent FDIC supervision and Community Reinvestment Act requirements.
Brainard: Agencies Weighing RFI on Artificial Intelligence
In remarks at a virtual event hosted by the Federal Reserve today, Fed Governor Lael Brainard said that the federal banking agencies are in the process of drafting request for information on the risk management of artificial intelligence applications in financial services as they consider “whether additional supervisory clarity is needed to facilitate responsible adoption of AI.”
Fed Pays $88.5 Billion to Treasury in 2020
The Federal Reserve System paid $88.5 billion out of its annual net income to the U.S. Treasury in 2020, according to figures released today, an increase from 2019.
FOMC: Pandemic Continues to Pose ‘Considerable Risk’ to Economic Outlook
The coronavirus pandemic continues to cause economic hardship across the country and poses considerable risk to the economic outlook over the medium term, according to members of the Federal Reserve’s Federal Open Market Committee.
Fed Proposes Reg D Changes
The Federal Reserve today proposed changes to Regulation D, which addresses reserve requirements of depository institutions.
Fed’s Brainard Highlights Need to Understand, Manage Climate Change Risk
Speaking at a virtual industry event today, Federal Reserve Board Governor Lael Brainard highlighted the need to understand risks related to climate change, noting that it is “vitally important to strengthen the U.S. financial system” to meet this challenge.
ABA Members Named to 2021 Fed Advisory Council
The Federal Reserve today announced the members of its 2021 Community Depository Institutions Advisory Council, which includes several ABA member bankers.
Fed Maintains Rates as Pandemic-Related Economic Hardship Continues
The Federal Reserve will continue keep its target range for the federal funds rate at zero to 0.25% as the economy remains well below levels of output seen at the start of the year, even as economic recovery continues, the Federal Open Market Committee said today.
Top Regulators Discuss Potential Improvements to Bank Supervision
In remarks at an industry event today, Federal Reserve Vice Chairman for Supervision Randal Quarles discussed possible ways to improve the supervisory ratings system that regulators use to assess banks’ strength in various risk areas to make them “more consistent and more predictable.”