Sen. Brown asks regulators for ‘comprehensive review’ of bank failures
As regulators conduct their reviews, Brown said they should look for “broader vulnerabilities” in the banking system and take steps to mitigate them.
Browsing: Federal reserve
FedNow to Launch in July
The Federal Reserve’s FedNow instant payments service will begin operating in July, the agency announced this week.
Fed’s Barr: Agencies continue to explore role of crypto in banking
When it comes to crypto assets, banking regulators seek to strike a balance between providing enough room for technological innovation to flourish while protecting consumers from a sector that has proven susceptible to fraud, Federal Reserve Vice Chairman for Supervision Michael Barr said this week.
Powell expects Fed to pick up pace of rate hikes
Recent economic data suggests the Federal Reserve will need to continue to raise interest rates this year to slow inflation and possibly push rates higher than previously projected, Fed Chairman Jerome Powell told lawmakers on the Senate Banking Committee this week.
GOP senators urge Fed to tread lightly on revising capital requirements
As the Federal Reserve undertakes a review of bank capital requirements, it must remember that those requirements need to be risk-based and tailored to an institution’s activity, size and complexity, Republicans on the Senate Banking Committee said last week in a letter to the agency.
Report: Banks remain stable amid economic turbulence
Financial conditions have tightened since June 2022 and are significantly tighter than a year ago, and while banks have seen some slowdown in revenue growth, the sector remains strong overall, the Federal Reserve said this week in its semiannual Monetary Policy Report to Congress.
Report: Credit quality improved in SNC program in 2022
Credit quality improved in 2022 in the Shared National Credit portfolio, although the results do not fully reflect increasing interest rates and softening economic conditions that began to affect borrowers in the second half of last year, federal agencies said this week.
Fed raises coin order limits to mitigate shortages
The Federal Reserve has raised the allocation limits for nickels, dimes and quarters, allowing depository institutions to order more coins from Fed banks, starting Feb. 27.
Regulators: Banks that offer crypto deposits must mitigate risks
Banking regulators this week issued a joint statement reminding financial institutions of their risk management obligations should they offer depository services for crypto assets.
Brainard resigns as Fed vice chair
Lael Brainard submitted her resignation today as Federal Reserve vice chair, with President Biden nominating her to serve as director of the National Economic Council.