The Federal Reserve System’s 2019 fee schedules for priced services that go into effect Jan. 1 are expected to be 2.5 percent higher on average than in 2018, and the system projects that it will recover 100.9 percent of its priced services costs, the Fed said Friday.

Outstanding household debt increased by 1.6 percent in the third quarter of 2018, rising by $219 billion to land at $13.51 trillion, the Federal Reserve Bank of New York reported today.

As wildfires continue to affect communities in Southern California, federal and state regulatory agencies yesterday issued a joint statement reminding banks of supervisory expectations related to disaster recovery. Regulators encouraged banks to work constructively to meet the financial needs of their communities.

The Federal Reserve today finalized a 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.

The Senate today by a vote of 64 to 34 confirmed Michelle Bowman to fill the designated community bank seat on the Federal Reserve Board of Governors.

Testifying before the House Financial Services Committee today, Federal Reserve Vice Chairman for Supervision Randal Quarles noted that “the banking sector remains in strong condition… with lending growth, fewer nonperforming loans and strong overall profitability.”

The Federal Reserve today issued its highly anticipated proposed framework for applying enhanced prudential standards to banking firms with $100 billion or more in assets, as required by S. 2155, the regulatory reform law.

The Federal Reserve Bank of San Francisco today named Mary Daly as the bank’s next president and CEO, effective Oct. 1.

As part of its ongoing effort to update Regulation CC to reflect a payments system that is largely electronic, the Federal Reserve today approved changes to Reg CC’s liability provisions to address situations involving a dispute about whether portions of an electronic check have been altered or whether the item is a forgery.

The Federal Reserve today announced the members of its 2019 Community Depository Institutions Advisory Council, which includes several ABA member bankers.