News stories tagged Federal Reserve

Biden begins making his mark on Fed

(Nov. 24, 2021) Leadership at the Federal Reserve would be solidified at least through 2026 if President Joe Biden’s (D) nominations for chair and vice chair of the board, made...

Rule finalized requiring notification of cyber incidents

(Nov. 24, 2021) A final rule requiring banks to notify their federal regulators of certain cyber incidents with potentially systemic effects was approved jointly late last week; it takes effect...

BRIEFLY: FCU boards may continue to meet virtually; Fed gov cool to only CU, bank issuance of stable coins; Controversial OCC designee faces confirmation hearing

(Nov. 19, 2021) Flexibility for board meetings originally extended to FCUs during the height of the coronavirus crisis will be extended in the new year, NCUA said this week. In...

Ahead for the Fed: Quarles resignation signals big changes

(Nov. 12, 2021) There will soon be two open seats on the Federal Reserve Board – and maybe three as early as January – because of the announced resignation of...

BRIEFLY: Fed statement: climate change poses ‘significant challenges’ to financial stability, safety and soundness; FDIC creates office to support ‘mission-driven banks’

(Nov. 5, 2021) Climate change poses “significant challenges” to the safety and soundness of financial institutions and the stability of the financial sector more broadly, the Federal Reserve said in...

BRIEFLY: FedNow on track; Treasury scales back balance reporting proposal; Tech giants providing payment services ordered to give up info

(Oct. 22, 2021) “FedNow” – the Federal Reserve’s much-anticipated (and delayed) round the clock payment system – will be ready “sooner rather than later,” Federal Reserve Bank President Esther George...

‘Time to move’ from LIBOR, group recommends

(Oct. 15, 2021) It’s “time to move” from LIBOR now by slowing the use of the reference rate by year’s end to foster a smooth completion of the rate’s overall...

BRIEFLY: New laws in CA; Job openings in OR; Fed supervision vice chair loses a role

(Oct. 15, 2021) California legislation was signed into law this week, the California and Nevada Credit Union Leagues reported. The new law for state credit unions: allows expulsion of members...

BRIEFLY: LIBOR is over – so is ‘magical thinking,’ Fed supervisor tells group; Have a great holiday weekend!

(Oct. 8, 2021) LIBOR is coming to an end – for the most part, at the end of this year – and it’s time to stop “magical thinking” that it...

Bank agencies vow to work together on CRA rule

(July 23, 2021) New regulations on anti-redlining rules will be rescinded, and federal banking agencies vowed to work together to develop a new proposal, the agencies announced this week. On...

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...