News stories tagged Federal Reserve

Fed announces tool for small banks grappling with CECL

(July 2, 2021) A new tool aimed at helping smaller banks calculate their allowances under the new current expected credit loss (CECL) accounting standard was announced by the Federal Reserve...

BRIEFLY: CFPB updates mortgage servicing FAQs; Written, specific direction needed on use of alternative data, GAO tells regulators

(June 4, 2021) Frequently asked questions (FAQs) about mortgage servicing were updated this week by the CFPB, concerning escrow account compliance under Regulations X and Z (RESPA and TILA, respectively)....

Proposals get the ball rolling on new FedNow service

(June 4, 2021) A “new and comprehensive” set of rules – but with concepts that are like existing regulations – to govern the Federal Reserve’s new round-the-clock instant payments service...

Like cicadas, buzz about U.S. digital currency grows

(May 28, 2021) Discussion of digital currency and if (or when) the Federal Reserve will begin issuing its own version of the new money was ramped up over the last...

BRIEFLY: First new FCU of year chartered; will serve local Islamic community …

(May 7, 2021) A new federal credit union chartered late last month in Kendall Park, N.J., to serve a local Islamic community will offer its members non-interest-bearing consumer loans, among...

BRIEFLY: Fact sheet on LIBOR demise published; Powell inflation indicators only ‘transitory’

(April 30, 2021) A two-page fact sheet that lays out what’s behind the demise of the London Interbank Offer Rate (LIBOR), a widely used rate used for such lending products...

Fed sets up committees to address climate change

(March 26, 2021) Two new Federal Reserve committees will focus on the impact of climate change on financial stability, Fed Board Gov. Lael Brainard said this week, as the agency...

‘No scenario’ for continued use of LIBOR, Fed governor asserts

(March 26, 2021) The Federal Reserve’s top supervisor this week made it clear that the future of LIBOR as a reference rate for such products as adjustable-rate mortgages will be...

Fed makes 0% Reg D reserve permanent

(Feb. 12, 2021) A reprieve for financial institutions from reserve requirements on transactions accounts, implemented last March to keep money flowing amid the coronavirus pandemic, will be permanent under a...

Democrats take Senate, portending changes ahead

(Jan. 8, 2021) The election of two Democrats from Georgia to the U.S. Senate this week – giving the Democrats a slim majority and therefore control — means some changes...