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  • Federal Reserve Board issues Final Rule modifying the Annual Assessment fees for its Supervision and Regulation of large Financial Companies

    Federal Reserve Board issues Final Rule modifying the Annual Assessment fees for its Supervision and Regulation of large Financial Companies | site |



    (Information contained in press release issued by Board of Governors of the Federal Reserve System: November 19, 2020) The Federal Reserve Board on Thursday issued a final rule modifying the annual assessment fees for its supervision and regulation of large financial companies, as required by the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA). The final rule is nearly identical to the proposal issued in November 2019. The final rule raises the threshold at which fees are assessed for bank holding companies and savings and loan holding companies from $50 billion to $100 billion in total consolidated assets. Additionally, it adjusts the amount charged to certain bank holding companies and savings and loan holding companies following changes from the Board related to the EGRRCPA. The fi
    ...
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  • Monitoring Board says Trial Data suggests Promising Interim Results from Clinical Trial of NIH-Moderna COVID-19 Vaccine

    NIH: Monitoring Board says Trial Data suggests Promising Interim Results from Clinical Trial of NIH-Moderna COVID-19 Vaccine| site |


    (November 16, 2020) - - Today the National Institutes of Health (NIH) published the following information: An independent data and safety monitoring board (DSMB) overseeing the Phase 3 trial of the investigational COVID-19 vaccine known as mRNA-1273 reviewed trial data and shared its interim analysis with the trial oversight group on Nov. 15, 2020. This interim review of the data suggests that the vaccine is safe and effective at preventing symptomatic COVID-19 in adults. The interim analysis comprised 95 cases of symptomatic COVID-19 among volunteers. The DSMB reported that the candidate was safe and well-tolerated and noted a vaccine efficacy rate of 94.5%. The findings are statistically significant, meaning they are likely not due to chance. 90 of the cases occurred in the placebo group and 5 occurred in the vaccinated group. ...
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  • Federal Reserve Board approves Fee Schedule for Federal Reserve Bank Priced Services

    Federal Reserve Board approves Fee Schedule for Federal Reserve Bank Priced Services | site |


    (November 10, 2020) - - Today the Board of Governors of the Federal Reserve System published the following information: The Federal Reserve Board on Tuesday announced the approval of fee schedules, effective January 4, 2021, for payment services the Federal Reserve Banks provide to depository institutions (priced services). The Reserve Banks project that they will recover 98.7 percent of their priced services costs in 2021. The Reserve Banks will maintain the current schedule of prices for payment services provided to depository institutions (priced services) in 2021, with the exception of a modification to the Check Services participation fee. While the Reserve Banks do not expect to recover fully actual and imputed expenses, including profit that would have been earned if a private-sector firm provided the services, in 2021, they do expect to recover fully expenses over the...
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  • NTSB Calls for Major Safety Improvements to Small Passenger Vessels

    NTSB Calls for Major Safety Improvements to Small Passenger Vessels

    National Transportation Safety Board Calls for Major Safety Improvements to Small Passenger Vessels | site |



    California Dive Boat Fire Killed 34


    (October 20, 2020) - - On October 20, 2020, the National Transportation Safety Board (NTSB) published the following information: WASHINGTON (Oct. 20, 2020) – The National Transportation Safety Board Tuesday called for major safety improvements to small passenger vessels after the investigation of a 2019 California dive boat fire that killed 34. The 75-foot recreational diving vessel, Conception, with 33 passengers and six crew aboard, was anchored in Platts Harbor, off Santa Cruz Island, when it caught fire in the early morning of Sept. 2, 2019. All 33 passengers and one crewmember died of smoke inhalation after they were trapped in the berthing area while a fire raged on the deck above. Both exits from the berthing area led to the fire- and smoke-filled enclosed area above. The NTSB called for all v...
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  • Federal Reserve Board adjusts terms of Main Street Lending Program to better target support to smaller Businesses

    Federal Reserve Board adjusts terms of Main Street Lending Program to better target support to smaller Businesses that employ Millions of Workers and are facing continued Revenue Shortfalls due to the Pandemic| site |



    (October 30, 2020) - - Today, October 30, 2020, the Board of Governors of the Federal Reserve System published the following information: The Federal Reserve Board on Friday adjusted the terms of the Main Street Lending Program in two important ways to better target support to smaller businesses that employ millions of workers and are facing continued revenue shortfalls due to the pandemic. In particular, the minimum loan size for three Main Street facilities available to for-profit and non-profit borrowers has been reduced from $250,000 to $100,000 and the fees have been adjusted to encourage the provision of these smaller loans. The Board and Department of the Treasury also issued a new frequently asked question clarifying that Paycheck Pr...
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  • Federal Reserve Board publishes detailed Noncash Payments Data from the 2019 Federal Reserve Payments Study

    Federal Reserve Board publishes detailed Noncash Payments Data from the 2019 Federal Reserve Payments Study | site |



    (October 29, 2020) - - Today, October 29, 2020, the Board of Governors of the Federal Reserve System published the following information:

    The Federal Reserve Board on Thursday published detailed noncash payments data from the 2019 Federal Reserve Payments Study (FRPS). The additional data, estimated from surveys covering 2012 through 2018, supplement the noncash payments overview provided by the top-line data released in December 2019.

    The FRPS Detailed Data Release includes new information about core noncash payments and some evolving areas of payments in the United States:
    • The estimated number and value of checks for 2018 are revised to 14.0 billion and $26.8 trillion, respectively. As a result, the estimated decline in the number of checks from 2015 to 2018 is revised to 8.2 percent per year, steeper than the
    ...
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  • Federal Reserve Board announces approval of application by Banco Bradesco S.A., Lecce Holdings S.A., Fundação Bradesco, BBD Participações S.A., Nova Cidade de Deus Participações S.A., and Cidade de Deus Cia. Comercial de Participações

    Federal Reserve Board announces approval of application by Banco Bradesco S.A., Lecce Holdings S.A., Fundação Bradesco, BBD Participações S.A., Nova Cidade de Deus Participações S.A., and Cidade de Deus Cia. Comercial de Participações | site |




    (October 7, 2020) - - Today, October 7, 2020, the Board of Governors of the Federal Reserve System published the following information:

    The Federal Reserve Board on Wednesday announced its approval of the application under section 3 of the Bank Holding Company Act of 1956 by (1) Banco Bradesco S.A., (2) Lecce Holdings S.A., (3) Fundação Bradesco, (4) BBD Participações S.A., (5) Nova Cidade de Deus Participações S.A., and (6) Cidade de Deus Cia. Comercial de Participações, all of Osasco, Brazil, to acquire BAC Florida Bank, Coral Gables, Florida.

    Attached is the Board's order relating to this action.

    Attachment (PDF)
    ...
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  • Wet Snow Flight Hazards Highlighted in National Transportation Safety Board Safety Alert

    Wet Snow Flight Hazards Highlighted in National Transportation Safety Board Safety Alert | site |




    (September 17, 2020) - - Today, September 17, 2020, the National Transportation Safety Board (NTSB) published the following information: ​WASHINGTON (Sept. 17, 2020) — The National Transportation Safety Board issued Safety Alert SA-082 Thursday, highlighting the importance of pilots assessing, understanding and preparing for the risk of wet snow and icing conditions before flight. The “Flight in Snow” safety alert provides guidance to pilots, dispatchers and operators regarding flight during wet snow and icing conditions. Wet snow contains liquid particles on the snowflakes or liquid particles falling amongst the snowflakes compared to dry snow in which there is no liquid. The liquid in wet snow has the potential to compromise flight safety through structural, engine and windshield ice accumulation. “As we go into the fall season with coolin...
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  • National Transportation Safety Board  Renews Call for Inward-Facing Cameras in Locomotives

    National Transportation Safety Board Renews Call for Inward-Facing Cameras in Locomotives | site |




    (September 15, 2020) - - Today, September 15, 2020, the National Transportation Safety Board (NTSB) published the following information: ​WASHINGTON (Sept. 15, 2020) — The National Transportation Safety Board Tuesday once again called for federal railroad regulators to mandate the use of inward- and outward-facing cameras on train locomotives after investigating an Ohio collision between two CSX Transportation trains. Tuesday’s reiteration of its 2010 camera recommendations came after the board completed its investigation into the Aug. 12, 2019, train collision and derailment near Carey, Ohio. The NTSB investigation found that the westbound train’s engineer was impaired by his use of alcohol at the time of the accident. Although post-accident testing showed the presence of marijuana in his system, NTSB investigators could not determine if his us...
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  • Federal Reserve Board extends Temporary Actions aimed at Increasing the Availability of Intraday Credit extended by Federal Reserve Banks

    Federal Reserve Board extends Temporary Actions aimed at Increasing the Availability of Intraday Credit extended by Federal Reserve Banks | site |



    (October 1, 2020) - - Today, October 1, 2020, the Board of Governors of the Federal Reserve System published the following information: The Federal Reserve Board on Thursday extended to March 31, 2021, temporary actions aimed at increasing the availability of intraday credit extended by Federal Reserve Banks on both a collateralized and uncollateralized basis. These temporary actions: (1) suspend uncollateralized intraday credit limits (net debit caps) and waive overdraft fees for institutions that are eligible for the primary credit program; (2) permit a streamlined procedure for secondary credit institutions to request collateralized intraday credit (max caps); and (3) suspend two collections of information that are used to calculate net debit caps. These temporary actions, which were announced on April 23,
    ...
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  • Federal Reserve Board Announces it will Extend for an Additional Quarter several Measures to Ensure that Large Banks maintain a High Level of Capital Resilience

    Federal Reserve Board Announces it will Extend for an Additional Quarter several Measures to Ensure that Large Banks maintain a High Level of Capital Resilience | site |



    (September 30, 2020) - - Today, September 30, 2020, the Board of Governors of the Federal Reserve System published the following information: Due to the continued economic uncertainty from the coronavirus response, the Federal Reserve Board on Wednesday announced it will extend for an additional quarter several measures to ensure that large banks maintain a high level of capital resilience. For the fourth quarter of this year, large banks—those with more than $100 billion in total assets—will be prohibited from making share repurchases. Additionally, dividend payments will be capped and tied to a formula based on recent income. The capital positions of large banks have remained strong during the third quarter while such restrictions were in place. In June, the Board released the res
    ...
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  • National Transportation Safety Board Issues 4 Safety Recommendations Based on Investigation of USS Fitzgerald Collision

    National Transportation Safety Board Issues 4 Safety Recommendations Based on Investigation of USS Fitzgerald Collision| site |



    (September 3, 2020) - - Today, September 3, 2020, the National Transportation Safety Board (NTSB) published the following information:

    WASHINGTON (Sept. 3, 2020) — The National Transportation Safety Board issued Thursday four safety recommendations in its final report on the agency’s investigation of the fatal, June 17, 2017, collision between the USS Fitzgerald and the container ship ACX Crystal.

    The collision happened shortly after the 504.5 foot-long, US Navy destroyer Fitzgerald, with 315 people on board, departed its homeport of Yokosuka, Japan, bound for the Philippines. The Fitzgerald was traveling southbound at about 22 knots in the bay of Sagami Nada off Japan’s Honshu Island, while the 730 foot-long, Philippine-flag, container ship ACX Crystal with 21 people on board was traveling east-northeast
    ...
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  • Federal Reserve Board Updates Frequently Asked Questions on Lender Underwriting for the Main Street Lending Program

    Federal Reserve Board Updates Frequently Asked Questions to Clarify the Board and Department of Treasury’s Expectations regarding Lender Underwriting for the Main Street Lending Program | site |



    (September 18, 2020) - - Today, September 18, 2020, the Board of Governors of the Federal Reserve System published the following information: The Federal Reserve Board on Friday updated its frequently asked questions (FAQs) to clarify the Board and Department of Treasury's expectations regarding lender underwriting for the Main Street Lending Program. The revised FAQs emphasize that lender underwriting should look back to the borrower's pre-pandemic condition and forward to their post-pandemic prospects. The FAQs also clarify supervisory expectations for lenders originating Main Street loans. The program supports lending to small and medium-sized for-profit businesses and nonprofit organizations that were in sound financial condition before the COVID-19 pandemic but l...
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  • Federal Reserve Board issues Report on the Economic Well-Being of U.S. Households

    Federal Reserve Board issues Report on the Economic Well-Being of U.S. Households | site |



    (September 18, 2020) - - Today, September 18, 2020, the Board of Governors of the Federal Reserve Board published the following information:

    Data collected to supplement the Federal Reserve Board's seventh annual Survey of Household Economics and Decisionmaking showed that U.S. families were faring better financially in July than in April, but many still faced uncertainty regarding layoffs and prospects for returning to work.

    Recognizing the unprecedented financial disruptions caused by the COVID-19 pandemic, the Federal Reserve conducted a pair of supplemental surveys to monitor changes in the financial well-being of Americans. The first of these surveys was conducted in April, at the onset of the pandemic and before most financial relief efforts were in place. The April results were described in the Report on the Economic Well-Being of U.S. Households
    ...
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  • National Transportation Safety Board says First Officer, Captain Actions, Aviation Industry Practices, Led to Fatal Atlas Air Crash

    National Transportation Safety Board says First Officer, Captain Actions, Aviation Industry Practices, Led to Fatal Atlas Air Crash | site |



    (July 14, 2020) - - Today, July 14, 2020, the National Transportation Safety Board (NTSB) published the following information:

    ​WASHINGTON (July 14, 2020) — The National Transportation Safety Board determined during a public board meeting held Tuesday that Atlas Air flight 3591 crashed in Trinity Bay, Texas, because of the first officer’s inappropriate response to an inadvertent activation of the airplane’s go-around mode, resulting in his spatial disorientation that led him to place the airplane in a steep descent from which the crew did not recover.

    The accident happened Feb. 23, 2019, when the Atlas Air Boeing 767 cargo jet entered a rapid descent from about 6,000 feet and impacted a marshy bay about 40 miles from Houston’s George Bush Intercontinental Airport. The captain, first
    ...
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  • Staff Reporter 1
    Federal Reserve Board issues Final Rule modifying the Annual Assessment fees for its Supervision and Regulation of large Financial Companies
    by Staff Reporter 1
    Federal Reserve Board issues Final Rule modifying the Annual Assessment fees for its Supervision and Regulation of large Financial Companies | site |



    (Information contained in press release issued by Board of Governors of the Federal Reserve System: November 19, 2020) The Federal Reserve Board on Thursday issued a final rule modifying the annual assessment fees for its supervision and regulation of large financial companies, as required by the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA). The final rule is nearly identical to the proposal issued in November 2019. The final rule raises the threshold at which fees are assessed for bank holding companies and savings and loan holding companies from $50 billion to $100 billion in total consolidated assets. Additionally, it adjusts the amount charged to certain bank holding companies and savings and loan holding companies following changes from the Board related to the EGRRCPA. The fi
    ...
    11-20-2020, 10:21 PM
  • Staff Reporter 1
    Monitoring Board says Trial Data suggests Promising Interim Results from Clinical Trial of NIH-Moderna COVID-19 Vaccine
    by Staff Reporter 1
    NIH: Monitoring Board says Trial Data suggests Promising Interim Results from Clinical Trial of NIH-Moderna COVID-19 Vaccine| site |


    (November 16, 2020) - - Today the National Institutes of Health (NIH) published the following information: An independent data and safety monitoring board (DSMB) overseeing the Phase 3 trial of the investigational COVID-19 vaccine known as mRNA-1273 reviewed trial data and shared its interim analysis with the trial oversight group on Nov. 15, 2020. This interim review of the data suggests that the vaccine is safe and effective at preventing symptomatic COVID-19 in adults. The interim analysis comprised 95 cases of symptomatic COVID-19 among volunteers. The DSMB reported that the candidate was safe and well-tolerated and noted a vaccine efficacy rate of 94.5%. The findings are statistically significant, meaning they are likely not due to chance. 90 of the cases occurred in the placebo group and 5 occurred in the vaccinated group. ...
    11-16-2020, 08:11 PM
  • Staff Reporter 1
    Federal Reserve Board approves Fee Schedule for Federal Reserve Bank Priced Services
    by Staff Reporter 1
    Federal Reserve Board approves Fee Schedule for Federal Reserve Bank Priced Services | site |


    (November 10, 2020) - - Today the Board of Governors of the Federal Reserve System published the following information: The Federal Reserve Board on Tuesday announced the approval of fee schedules, effective January 4, 2021, for payment services the Federal Reserve Banks provide to depository institutions (priced services). The Reserve Banks project that they will recover 98.7 percent of their priced services costs in 2021. The Reserve Banks will maintain the current schedule of prices for payment services provided to depository institutions (priced services) in 2021, with the exception of a modification to the Check Services participation fee. While the Reserve Banks do not expect to recover fully actual and imputed expenses, including profit that would have been earned if a private-sector firm provided the services, in 2021, they do expect to recover fully expenses over the...
    11-11-2020, 01:48 AM
  • Staff Reporter 1
    NTSB Calls for Major Safety Improvements to Small Passenger Vessels
    by Staff Reporter 1
    National Transportation Safety Board Calls for Major Safety Improvements to Small Passenger Vessels | site |



    California Dive Boat Fire Killed 34


    (October 20, 2020) - - On October 20, 2020, the National Transportation Safety Board (NTSB) published the following information: WASHINGTON (Oct. 20, 2020) – The National Transportation Safety Board Tuesday called for major safety improvements to small passenger vessels after the investigation of a 2019 California dive boat fire that killed 34. The 75-foot recreational diving vessel, Conception, with 33 passengers and six crew aboard, was anchored in Platts Harbor, off Santa Cruz Island, when it caught fire in the early morning of Sept. 2, 2019. All 33 passengers and one crewmember died of smoke inhalation after they were trapped in the berthing area while a fire raged on the deck above. Both exits from the berthing area led to the fire- and smoke-filled enclosed area above. The NTSB called for all v...
    11-06-2020, 05:07 AM
  • Staff Reporter 1
    Federal Reserve Board adjusts terms of Main Street Lending Program to better target support to smaller Businesses
    by Staff Reporter 1
    Federal Reserve Board adjusts terms of Main Street Lending Program to better target support to smaller Businesses that employ Millions of Workers and are facing continued Revenue Shortfalls due to the Pandemic| site |



    (October 30, 2020) - - Today, October 30, 2020, the Board of Governors of the Federal Reserve System published the following information: The Federal Reserve Board on Friday adjusted the terms of the Main Street Lending Program in two important ways to better target support to smaller businesses that employ millions of workers and are facing continued revenue shortfalls due to the pandemic. In particular, the minimum loan size for three Main Street facilities available to for-profit and non-profit borrowers has been reduced from $250,000 to $100,000 and the fees have been adjusted to encourage the provision of these smaller loans. The Board and Department of the Treasury also issued a new frequently asked question clarifying that Paycheck Pr...
    11-05-2020, 10:48 PM

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