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  • Federal Reserve Board invites Public Comment on Proposed Changes to Regulation II regarding Network Availability for Card-Not-Present Debit Card Transactions

    Federal Reserve Board invites Public Comment on Proposed Changes to Regulation II regarding Network Availability for Card-Not-Present Debit Card Transactions | site |


    Publishes a Biennial Report containing Summary Information on Debit Card Transactions in 2019



    (Information contained in Board of Governors of the Federal Reserve System press release dated: May 7, 2021)

    The Federal Reserve Board on Friday invited public comment on proposed changes to Regulation II (Debit Card Interchange Fees and Routing) to clarify that debit card issuers should enable, and allow merchants to choose from, at least two unaffiliated networks for card-not-present debit card transactions, such as online purchases. The Board views these clarifications of Regulation II's existing requirements as necessary in light of information indicating that often only one network is enabled for such transactions. Additionally, the Board published today a bie...
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  • Federal Reserve Board invites Public Comment on Proposed Guidelines to Evaluate Requests for Accounts and Payment Services at Federal Reserve Banks

    Federal Reserve Board invites Public Comment on Proposed Guidelines to Evaluate Requests for Accounts and Payment Services at Federal Reserve Banks | site |


    (Information contained in Board of Governors of the Federal Reserve System press release dated: May 5, 2021) The Federal Reserve Board on Wednesday invited public comment on proposed guidelines to evaluate requests for accounts and payment services at Federal Reserve Banks ("Account Access Guidelines"). Recent years have seen the introduction of new financial products and delivery mechanisms for traditional banking services, notably leveraging emerging technologies, including from institutions with novel types of banking charters designed to support such innovation. To facilitate these activities, some such institutions have requested access to the payments system offered by Federal Reserve Banks. To help achieve the goal of applying a transparent and consistent process for all access requests, as wel...
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  • Federal Reserve Board announces it will extend its Paycheck Protection Program Liquidity Facility, or PPPLF, by three Months to June 30, 2021

    Federal Reserve Board announces it will extend its Paycheck Protection Program Liquidity Facility, or PPPLF, by three Months to June 30, 2021 | site |



    (Information contained in Board of Governors of the Federal Reserve System press release dated: March 8, 2021) The Federal Reserve Board on Monday announced it will extend its Paycheck Protection Program Liquidity Facility, or PPPLF, by three months to June 30, 2021. The extension will provide continued support for the flow of credit to small businesses through the Paycheck Protection Program, or PPP. The PPPLF extends term credit to financial institutions making PPP loans, accepting the PPP loans as collateral. The liquidity provided by the PPPLF helps eligible financial institutions fund additional PPP loans. The PPPLF was established under the Board's 13(3) authority and the extension from March 31 to June 30, 2021, was approved by the Secretary of the Treasury. The other currently active 13(3)...
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  • Federal Reserve Board clarifies Guidance as it relates to Definitions for Minority Depository Institutions

    Federal Reserve Board clarifies Guidance as it relates to Definitions for Minority Depository Institutions | site |



    (Information contained in Board of Governors of the Federal Reserve System press release dated: March 5, 2021) The Federal Reserve on Friday clarified guidance as it relates to definitions for minority depository institutions (MDIs), expanded the MDI definition to include women-owned financial institutions, and highlighted resources available to MDIs through its Partnership for Progress (PFP) program. The Federal Reserve System supports an inclusive financial system and understands the challenges inherent in providing access to credit and other financial services in traditionally underserved areas. The System remains strongly committed to identifying and carrying through all opportunities to support MDIs, consistent with its statutory mandates. The PFP program is the Federal Reserve's national MDI outreach program and implements ...
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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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  • Staff Reporter 1
    Federal Reserve Board invites Public Comment on Proposed Changes to Regulation II regarding Network Availability for Card-Not-Present Debit Card Transactions
    by Staff Reporter 1
    Federal Reserve Board invites Public Comment on Proposed Changes to Regulation II regarding Network Availability for Card-Not-Present Debit Card Transactions | site |


    Publishes a Biennial Report containing Summary Information on Debit Card Transactions in 2019



    (Information contained in Board of Governors of the Federal Reserve System press release dated: May 7, 2021)

    The Federal Reserve Board on Friday invited public comment on proposed changes to Regulation II (Debit Card Interchange Fees and Routing) to clarify that debit card issuers should enable, and allow merchants to choose from, at least two unaffiliated networks for card-not-present debit card transactions, such as online purchases. The Board views these clarifications of Regulation II's existing requirements as necessary in light of information indicating that often only one network is enabled for such transactions. Additionally, the Board published today a bie...
    05-10-2021, 08:43 PM
  • Staff Reporter 1
    Federal Reserve Board invites Public Comment on Proposed Guidelines to Evaluate Requests for Accounts and Payment Services at Federal Reserve Banks
    by Staff Reporter 1
    Federal Reserve Board invites Public Comment on Proposed Guidelines to Evaluate Requests for Accounts and Payment Services at Federal Reserve Banks | site |


    (Information contained in Board of Governors of the Federal Reserve System press release dated: May 5, 2021) The Federal Reserve Board on Wednesday invited public comment on proposed guidelines to evaluate requests for accounts and payment services at Federal Reserve Banks ("Account Access Guidelines"). Recent years have seen the introduction of new financial products and delivery mechanisms for traditional banking services, notably leveraging emerging technologies, including from institutions with novel types of banking charters designed to support such innovation. To facilitate these activities, some such institutions have requested access to the payments system offered by Federal Reserve Banks. To help achieve the goal of applying a transparent and consistent process for all access requests, as wel...
    05-07-2021, 01:04 AM
  • Staff Reporter 1
    Federal Reserve Board announces it will extend its Paycheck Protection Program Liquidity Facility, or PPPLF, by three Months to June 30, 2021
    by Staff Reporter 1
    Federal Reserve Board announces it will extend its Paycheck Protection Program Liquidity Facility, or PPPLF, by three Months to June 30, 2021 | site |



    (Information contained in Board of Governors of the Federal Reserve System press release dated: March 8, 2021) The Federal Reserve Board on Monday announced it will extend its Paycheck Protection Program Liquidity Facility, or PPPLF, by three months to June 30, 2021. The extension will provide continued support for the flow of credit to small businesses through the Paycheck Protection Program, or PPP. The PPPLF extends term credit to financial institutions making PPP loans, accepting the PPP loans as collateral. The liquidity provided by the PPPLF helps eligible financial institutions fund additional PPP loans. The PPPLF was established under the Board's 13(3) authority and the extension from March 31 to June 30, 2021, was approved by the Secretary of the Treasury. The other currently active 13(3)...
    03-09-2021, 03:19 AM
  • Staff Reporter 1
    Federal Reserve Board clarifies Guidance as it relates to Definitions for Minority Depository Institutions
    by Staff Reporter 1
    Federal Reserve Board clarifies Guidance as it relates to Definitions for Minority Depository Institutions | site |



    (Information contained in Board of Governors of the Federal Reserve System press release dated: March 5, 2021) The Federal Reserve on Friday clarified guidance as it relates to definitions for minority depository institutions (MDIs), expanded the MDI definition to include women-owned financial institutions, and highlighted resources available to MDIs through its Partnership for Progress (PFP) program. The Federal Reserve System supports an inclusive financial system and understands the challenges inherent in providing access to credit and other financial services in traditionally underserved areas. The System remains strongly committed to identifying and carrying through all opportunities to support MDIs, consistent with its statutory mandates. The PFP program is the Federal Reserve's national MDI outreach program and implements ...
    03-08-2021, 09:54 AM
  • 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, 10:56 AM

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