The Federal Reserve today approved its long-awaited framework for tailoring enhanced prudential standards for firms with $100 billion or more in assets—as required by the S. 2155 regulatory reform law—and how it will apply those standards to large U.S. and foreign banking organizations.
Browsing: Federal reserve
As the Federal Reserve moves ahead with the creation of the FedNow real-time payments service, interoperability with existing systems will be critical to ensuring consumer choice, according to an op-ed in American Banker today.
As the Federal Reserve develops its own faster payments system, it must focus on ensuring interoperability between the existing RTP Network, rthe American Bankers Association said in a statement for the record submitted ahead of a Senate Banking Committee hearing today.
The Federal Open Market Committee announced today that it would cut interest rates for the second time this year.
The Senate today voted to confirm Federal Reserve Governor Michelle Bowman to a full, 14-year term on the board of governors.
The Federal Reserve is considering further refinements to its stress capital buffer proposal in response to industry calls for greater simplification, Vice Chairman for Supervision Randal Quarles said in a speech today.
As the Federal Reserve works to update its procedures for responding to Freedom of Information Act requests and its treatment of confidential supervisory information, the American Bankers Association raised concerns that the proposed changes could “expand significantly the scope of information that would be treated as CSI and subject to restrictions on disclosure.”
In a long-awaited decision, the Federal Reserve today announced it would develop FedNow, its own 24/7/365 real-time settlement service designed to serve all U.S. depository institutions.
As expected by analysts, the Federal Open Market Committee announced today that it would cut the target rage for the federal funds rate by a quarter of a point to 2 to 2.25% amid slowing global growth and mounting economic uncertainties.
As the Federal Reserve weighs whether to develop a real-time payments option, an American Banker op-ed today noted that community banks cannot afford to wait on a Fed solution to offer this technology to their customers.