The Federal Reserve today released the two hypothetical economic and financial market scenarios that it will use in the next round of the Comprehensive Capital Analysis and Review process for the nation’s largest financial institutions.
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Financial regulators—including the Federal Reserve—are moving to incorporate climate risk assessments in their supervisory activities, according to a new research letter published today by the Federal Reserve Bank of San Francisco.
The Federal Reserve yesterday said that its FedNow service will be ready to launch in 2023. The Fed previously indicated that the service would be ready sometime in 2023 or 2024.
Federal Reserve Governor Michelle Bowman—who holds the seat on the Federal Reserve Board designated for an individual with community banking experience—will deliver keynote remarks during ABA’s Conference for Community Bankers, a virtual event taking place Feb. 16-17.
As expected, the Federal Reserve will continue to keep its target range for the federal funds rate at zero to 0.25% to support the U.S. economy during this “challenging time,” the Federal Open Market Committee said today.
The Federal Reserve today finalized a rule making changes to its capital planning requirements that…
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.
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.”
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.
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.