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  • Minutes of the Board's Discount Rate Meetings on January 19 and January 27, 2021

    Minutes of the Board's Discount Rate Meetings on January 19 and January 27, 2021| site |



    (Information contained in Board of Governors of the Federal Reserve System press release dated: February 23, 2021)

    The Federal Reserve Board on Tuesday released the minutes of its interest rate meetings on January 19 and January 27, 2021.

    The minutes are attached.

    Attachment
    ...
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  • Federal Reserve Board announces Final Rule intended to Reduce Risk and Increase Efficiency in the Financial System by applying Netting Protections to a broader Range of Financial Institutions

    Federal Reserve Board announces Final Rule intended to Reduce Risk and Increase Efficiency in the Financial System by applying Netting Protections to a broader Range of Financial Institutions | site |


    (Information contained in Board of Governors of the Federal Reserve System press release dated: February 18, 2021) The Federal Reserve Board on Thursday announced a final rule that is intended to reduce risk and increase efficiency in the financial system by applying netting protections to a broader range of financial institutions. The final rule amends Regulation EE (Financial Institution Netting) to apply netting provisions of the Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA) to certain new entities including swap dealers. The rule would also make minor clarifications to the existing activities-based test in Regulation EE to clarify how the activities-based test applies following a consolidation of legal entities. Sections 401...
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  • Federal Reserve Board releases hypothetical Scenarios for its 2021 Bank Stress Tests

    Federal Reserve Board releases hypothetical Scenarios for its 2021 Bank Stress Tests | site |


    (Information contained in Board of Governors of the Federal Reserve System press release dated: February 12, 2021) The Federal Reserve Board on Friday released the hypothetical scenarios for its 2021 bank stress tests. Last year, the Board found that large banks were generally well capitalized under a range of hypothetical events but due to continuing economic uncertainty placed restrictions on bank payouts to preserve the strength of the banking sector. The Board's stress tests help ensure that large banks are able to lend to households and businesses even in a severe recession. The exercise evaluates the resilience of large banks by estimating their loan losses and capital levels—which provide a cushion against losses—under hypothetical recession scenarios that extend nine quarters into the future. "The banking sector has provided critical support to the economic re...
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  • Federal Reserve Board announces that the Public Comment period for the application by First Citizens BancShares, Inc. to acquire CIT Group, Inc. has been extended through February 22, 2021

    Federal Reserve Board announces that the Public Comment period for the application by First Citizens BancShares, Inc. to acquire CIT Group, Inc. has been extended through February 22, 2021 | site |


    (Information contained in Board of Governors of the Federal Reserve System press release dated: January 22, 2021)

    The Federal Reserve Board on Friday announced that the public comment period has been extended through February 22, 2021, for the application by First Citizens BancShares, Inc. of Raleigh, North Carolina, to acquire CIT Group, Inc. of New York, New York.

    The comment period is being extended to provide additional time for interested parties to comment on the application in light of the ongoing challenges from the coronavirus.



    Attachment...
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  • Federal Reserve Board approves reappointment of Reserve Bank Presidents and First Vice Presidents

    Federal Reserve Board approves reappointment of Reserve Bank Presidents and First Vice Presidents | site |



    (Information contained in Board of Governors of the Federal Reserve System press release: January 21, 2021)

    The Federal Reserve Board on Thursday announced the approval of the reappointment of 12 Federal Reserve Bank presidents and 11 first vice presidents, as previously made by their respective boards of directors.1 Each individual has been approved to serve a new five-year term beginning March 1, 2021. Under section 4 of the Federal Reserve Act, all Reserve Bank presidents and first vice presidents serve five-year terms that expire at the end of February in years ending in 1 or 6. Presidents and first vice presidents who take office in intervening years are initially appointed for the remainder of the current term. Class B and C Reserve Bank directors who are not affiliated with a supervised entity are eligible to vote on ...
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  • Dr. Anthony S. Fauci Remarks at the World Health Organization Executive Board Meeting​​​​​​​

    Dr. Anthony S. Fauci Remarks at the World Health Organization Executive Board Meeting | site |




    (Information contained in U.S. Department of Health and Human Services [HHS] press release dated: January 21, 2021)



    Dr. Anthony S. Fauci Remarks at the World Health Organization Executive Board Meeting


    “Director-General Dr. Tedros, distinguished representatives, friends and colleagues: It is an honor for me to be here, representing the United States of America, on behalf of the newly inaugurated Biden-Harris administration, and as the Chief Medical Adviser to President Biden. I also am here to represent the scientists, public health officials and frontline healthcare workers, and community health workers who have worked so heroically this past year to fight COVID-19, developing medical countermeasures at truly phenomenal speed, adapting policy responses as we learn more about the virus, and courageously...
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  • NTSB Issues 14 Safety Recommendations Following Investigation of Natural Gas Explosion

    National Transportation Safety Board Issues 14 Safety Recommendations Following Investigation of Natural Gas Explosion | site |




    (Information contained in National Transportation Safety Board [NTSB] press release dated: January 12, 2021)

    Washington (Jan. 12, 2021) — The National Transportation Safety Board issued 14 safety recommendations during a board meeting held Tuesday in which the agency determined the probable cause for the Feb. 23, 2018, natural gas explosion in a Dallas, TX, home. One person died and four others were injured in the explosion at 3534 Espanola Drive, that caused major structural damage to the one-story residence. The NTSB determined that the ignition of an accumulation of natural gas that leaked from the gas main that was damaged during a sewer replacement project 23 years earlier, led to the explosion. Atmos Energy Corporation failed to detect the leak when responding to related incidents at two other homes on th...
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  • American Hospital Association names new Trustee to the Board

    American Hospital Association names new Trustee to the Board

    American Hospital Association names new Trustee to the Board | site |


    (Information contained in American Hospital Association [AHA] press release: January 15, 2021)

    Washington (January 15 , 2021) – The American Hospital Association (AHA) has elected Russ Gronewold to fill a vacancy on its Board of Trustees, effective January 2021; he will also serve as chair of Regional Policy Board 6. The Board of Trustees is the highest policymaking body of the AHA and has ultimate authority for the governance and management of its direction and finances. Gronewold is CEO of Bryan Health, a five hospital health system headquartered in Lincoln, Neb., a position he has held since 2020. He previously had been the system’s chief financial officer since 2010. Prior to joining Bryan Health, he served as vice president for business development for Alegent Health in Omaha, Neb. Gronewold is the immediate past chair of the Nebraska Hospital Association and is an active member...
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  • Minutes of the Board's Discount Rate Meetings from November 16 through December 16, 2020

    Minutes of the Board's Discount Rate Meetings from November 16 through December 16, 2020 | site |


    (Information contained in Board of Governors of the Federal Reserve System press release: January 12, 2021)

    The Federal Reserve Board on Tuesday released the minutes of its interest rate meetings from November 16 through December 16, 2020.

    The minutes are attached.

    Attachment
    ...
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  • Federal Reserve Board announces Reserve Bank Income and Expense Data and Transfers to the Treasury for 2020

    Federal Reserve Board announces Reserve Bank Income and Expense Data and Transfers to the Treasury for 2020 | site |



    (Information contained in Board of Governors of the Federal Reserve System press release: January 11, 2021) The Federal Reserve Board on Monday announced preliminary results indicating that the Reserve Banks provided for payments of approximately $88.5 billion of their estimated 2020 net income to the U.S. Treasury. The 2020 audited Reserve Bank financial statements are expected to be published in March and may include adjustments to these preliminary unaudited results. The Federal Reserve Banks' 2020 estimated net income of $88.8 billion represents an increase of $33.3 billion from 2019, primarily attributable to a $27.1 billion decrease in interest expense associated with reserve balances held by depository institutions and a $5.3 billion decrease in interest expense associated with securities sold under agreements to resell. Net income f...
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  • Federal Reserve Board announces Appointment of the Chairs and Deputy Chairs of the Federal Reserve Banks for 2021

    Federal Reserve Board announces Appointment of the Chairs and Deputy Chairs of the Federal Reserve Banks for 2021 | site |


    (Information contained in Board of Governors of the Federal Reserve System press release dated: December 23, 2020)

    The Federal Reserve Board on Wednesday announced the designation of the Chairs and Deputy Chairs of the 12 Federal Reserve Banks for 2021.

    Each Reserve Bank has a nine-member board of directors. The Board of Governors in Washington appoints three of these directors and each year designates one of its appointees as Chair and a second as Deputy Chair.

    Following are the names of the Chairs and Deputy Chairs designated by the Board for 2021:

    Boston
    Christina Hull Paxson, president, Brown University, Providence, Rhode Island, named Chair.

    Corey Thomas, chairman and chief executive officer, Rapid7, Inc., Boston, Massachusetts, named Deputy Chair.

    New
    ...
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  • Christopher J. Waller Sworn In as a Member of the Board of Governors of the Federal Reserve System

    Christopher J. Waller Sworn In as a Member of the Board of Governors of the Federal Reserve System | site |


    (Information contained in Board of Governors of the Federal Reserve System press release dated: December 18, 2020)

    Christopher J. Waller took the oath of office on Friday as a member of the Board of Governors of the Federal Reserve System. The oath was administered remotely via videoconference by Chair Jerome H. Powell. Dr. Waller took the oath at his residence in St. Louis in the company of family and friends.





    Chair Powell swears in Christopher J. Waller virtually on December 18, 2020 as a member of the Board of Governors of the Federal Reserve System. (Photo courtesy Board of Governors of the Federal Reserve System)

    On January 16, President Trump announced his intention to nominate Dr....
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  • Federal Reserve Board releases Second Round of Bank Stress Test Results

    Federal Reserve Board releases Second Round of Bank Stress Test Results

    Federal Reserve Board releases Second Round of Bank Stress Test Results | site |


    (Information contained in Board of Governors of the Federal Reserve System press release dated: December 18, 2020) The Federal Reserve Board on Friday released a second round of bank stress test results this year, which showed that large banks had strong capital levels under two separate hypothetical recessions. "The banking system has been a source of strength during the past year and today's stress test results confirm that large banks could continue to lend to households and businesses even during a sharply adverse future turn in the economy," said Vice Chair for Supervision Randal K. Quarles. The Board's stress tests help ensure that large banks can support the economy during economic downturns. The tests evaluate the resilience of large banks by estimating their losses, revenue, and capital levels—which provide a cushion against losses—under hypothetical scenarios over nine fu...
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  • Federal Reserve Board and Federal Open Market Committee release Economic Projections from the December 15-16 FOMC Meeting

    Federal Reserve Board and Federal Open Market Committee release Economic Projections from the December 15-16 FOMC Meeting| site |



    (Information contained in Board of Governors of the Federal Reserve System press release: December 16, 2020)

    The attached tables and charts released on Wednesday summarize the economic projections made by Federal Open Market Committee participants in conjunction with the December 15-16 meeting.

    Projections (PDF) | Accessible Materials
    ...
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  • Statement from Brian Harrison on HHS Chief of Staff’s Taxpayer Accountability Board

    Statement from Brian Harrison on U.S. Department of Health and Human Services Chief of Staff’s Taxpayer Accountability Board | site |



    (Information contained in U.S. Department of Health and Human Services [HHS] press release: December 4, 2020) Today, HHS announced that the Department has established the Chief of Staff’s Taxpayer Accountability Board (TAB) to ensure that HHS is a good steward of taxpayer funds and to eliminate excessive spending. The TAB will institutionalize a contract review culture for critical services throughout HHS by implementing a review process to strengthen the management of the acquisition of services at both the strategic and tactical level. HHS Chief of Staff Brian Harrison issued the following statement: “One of the most important responsibilities federal employees have is to be good stewards of the hard-earned taxes Americans send to Washington, and HHS’s Taxpayer Accountability Board will save billions of dollars by ...
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  • Staff Reporter 1
    Minutes of the Board's Discount Rate Meetings on January 19 and January 27, 2021
    by Staff Reporter 1
    Minutes of the Board's Discount Rate Meetings on January 19 and January 27, 2021| site |



    (Information contained in Board of Governors of the Federal Reserve System press release dated: February 23, 2021)

    The Federal Reserve Board on Tuesday released the minutes of its interest rate meetings on January 19 and January 27, 2021.

    The minutes are attached.

    Attachment
    ...
    02-25-2021, 11:56 AM
  • Staff Reporter 1
    Federal Reserve Board announces Final Rule intended to Reduce Risk and Increase Efficiency in the Financial System by applying Netting Protections to a broader Range of Financial Institutions
    by Staff Reporter 1
    Federal Reserve Board announces Final Rule intended to Reduce Risk and Increase Efficiency in the Financial System by applying Netting Protections to a broader Range of Financial Institutions | site |


    (Information contained in Board of Governors of the Federal Reserve System press release dated: February 18, 2021) The Federal Reserve Board on Thursday announced a final rule that is intended to reduce risk and increase efficiency in the financial system by applying netting protections to a broader range of financial institutions. The final rule amends Regulation EE (Financial Institution Netting) to apply netting provisions of the Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA) to certain new entities including swap dealers. The rule would also make minor clarifications to the existing activities-based test in Regulation EE to clarify how the activities-based test applies following a consolidation of legal entities. Sections 401...
    02-23-2021, 03:03 AM
  • Staff Reporter 1
    Federal Reserve Board releases hypothetical Scenarios for its 2021 Bank Stress Tests
    by Staff Reporter 1
    Federal Reserve Board releases hypothetical Scenarios for its 2021 Bank Stress Tests | site |


    (Information contained in Board of Governors of the Federal Reserve System press release dated: February 12, 2021) The Federal Reserve Board on Friday released the hypothetical scenarios for its 2021 bank stress tests. Last year, the Board found that large banks were generally well capitalized under a range of hypothetical events but due to continuing economic uncertainty placed restrictions on bank payouts to preserve the strength of the banking sector. The Board's stress tests help ensure that large banks are able to lend to households and businesses even in a severe recession. The exercise evaluates the resilience of large banks by estimating their loan losses and capital levels—which provide a cushion against losses—under hypothetical recession scenarios that extend nine quarters into the future. "The banking sector has provided critical support to the economic re...
    02-13-2021, 07:38 AM
  • Staff Reporter 1
    Federal Reserve Board announces that the Public Comment period for the application by First Citizens BancShares, Inc. to acquire CIT Group, Inc. has been extended through February 22, 2021
    by Staff Reporter 1
    Federal Reserve Board announces that the Public Comment period for the application by First Citizens BancShares, Inc. to acquire CIT Group, Inc. has been extended through February 22, 2021 | site |


    (Information contained in Board of Governors of the Federal Reserve System press release dated: January 22, 2021)

    The Federal Reserve Board on Friday announced that the public comment period has been extended through February 22, 2021, for the application by First Citizens BancShares, Inc. of Raleigh, North Carolina, to acquire CIT Group, Inc. of New York, New York.

    The comment period is being extended to provide additional time for interested parties to comment on the application in light of the ongoing challenges from the coronavirus.



    Attachment...
    01-23-2021, 01:23 AM
  • Staff Reporter 1
    Federal Reserve Board approves reappointment of Reserve Bank Presidents and First Vice Presidents
    by Staff Reporter 1
    Federal Reserve Board approves reappointment of Reserve Bank Presidents and First Vice Presidents | site |



    (Information contained in Board of Governors of the Federal Reserve System press release: January 21, 2021)

    The Federal Reserve Board on Thursday announced the approval of the reappointment of 12 Federal Reserve Bank presidents and 11 first vice presidents, as previously made by their respective boards of directors.1 Each individual has been approved to serve a new five-year term beginning March 1, 2021. Under section 4 of the Federal Reserve Act, all Reserve Bank presidents and first vice presidents serve five-year terms that expire at the end of February in years ending in 1 or 6. Presidents and first vice presidents who take office in intervening years are initially appointed for the remainder of the current term. Class B and C Reserve Bank directors who are not affiliated with a supervised entity are eligible to vote on ...
    01-22-2021, 01:48 AM

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