152 results in 0.0091 seconds.
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Federal Reserve Board finalizes updates to the Board’s Rule concerning Debit Card Transactions
Federal Reserve Board finalizes updates to the Board’s Rule concerning Debit Card Transactions | site | Information contained in Board of Governors of the Federal Reserve System press release dated: October 3, 2022 The Federal Reserve Board on Monday finalized updates to the Board's rule concerning debit card transactions. Pursuant to statute, the updates specify that debit card issuers should enable at least two payment card networks to process all debit card transactions, including "card-not-present" transactions, such as online payments.1 The final rule is substantially similar to the proposal issued last year. By law, the Board is required to make rules ensuring that debit card issuers give merchants the opportunity to choose between at least two unaffiliated networks when routing debit card transactions. When the Board initially issued the rule in July 2011, the market had not developed solutions to broadly support multiple networks for card-not-pr... -
Michael S. Barr sworn in as Vice Chair for Supervision of the Board of Governors of the Federal Reserve System
Michael S. Barr sworn in as Vice Chair for Supervision 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: July 19, 2022
Michael S. Barr took the oath of office as Vice Chair for Supervision and a member of the Board of Governors of the Federal Reserve System on Tuesday. The oath was administered by Chair Jerome H. Powell in the press briefing room of the Board's Martin building.Chair Jerome H. Powell swears in Michael S. Barr on July 19, 2022 as Vice Chair for Supervision and a member of the Board of Governors of the Federal Reserve System.
President Biden nominated Mr. Barr on May 2, 2022, and he was confirmed by the United States Senate on July 13. His term as Vice Chair for Supervision ends on July 13, 2026, and his term as a member... -
Minutes of the Board's Discount Rate Meetings from May 16 through June 15, 2022
Minutes of the Board's Discount Rate Meetings from May 16 through June 15, 2022
| site |
Information contained in Board of Governors of the Federal Reserve System press release dated: July 12, 2022
The Federal Reserve Board on Tuesday released the minutes of its interest rate meetings from May 16 through June 15, 2022.
The minutes are attached.
Attachment (PDF)... -
Social Security Board of Trustees says Outlook of Combined Trust Funds Improves
Social Security Board of Trustees says Outlook of Combined Trust Funds Improves | site |
Information contained in U.S. Social Security Administration press release dated: June 2, 2022
The Social Security Board of Trustees today released its annual report on the financial status of the Social Security Trust Funds. The combined asset reserves of the Old-Age and Survivors Insurance and Disability Insurance (OASI and DI) Trust Funds are projected to become depleted in 2035, one year later than projected last year, with 80 percent of benefits payable at that time.
The OASI Trust Fund is projected to become depleted in 2034, one year later than last year’s estimate, with 77 percent of benefits payable at that time. The DI Trust Fund asset reserves are not projected to become depleted during the 75-year projection period.
In the 2022 Annual Report to Congress, the Trustees announced:- The asset reserves of the combined
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Minutes of the Board's Discount Rate Meetings from April 25 through May 4, 2022
Minutes of the Board's Discount Rate Meetings from April 25 through May 4, 2022 | site |
Information contained in Board of Governors of the Federal Reserve System press release dated: May 31, 2022
The Federal Reserve Board on Tuesday released the minutes of its interest rate meetings from April 25 and May 4, 2022.
The minutes are attached.
Attachment (PDF)... -
Jerome H. Powell sworn in for second term as Chair of the Board of Governors of the Federal Reserve System
Jerome H. Powell sworn in for second term as Chair 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: May 23, 2022
Jerome H. Powell on Monday took the oath of office for his second term as Chair of the Board of Governors of the Federal Reserve System. Chair Powell's oath was administered by Vice Chair LaelBrainard in the press briefing room of the Board's Martin building. President Biden re-nominated Mr. Powell in November 2021, and he was confirmed by the United States Senate on May 12, 2022. His new term as Chair ends on May 15, 2026, and his term as a member of the Board ends on Jan...Vice Chair Lael Brainard swears in Chair Jerome H. Powell on May 23, 2022 for his second term as Chair of the Board of Governors of the Federal Reserve System.
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Federal Reserve Board finalizes Rule that governs Funds Transfers over the Federal Reserve Banks' FedNow Service
Federal Reserve Board finalizes Rule that governs Funds Transfers over the Federal Reserve Banks' FedNow Service | site |
Information contained in Board of Governors of the Federal Reserve System press release dated: May 19, 2022 The Federal Reserve Board on Thursday finalized a rule that governs funds transfers over the Federal Reserve Banks' FedNow℠ Service. The final rule is substantially similar to the proposal from last year, with a few clarifications in response to comments. The FedNow Service is a new 24x7x365 interbank settlement service with clearing functionality to support instant payments in the United States and is expected to be available in 2023. The final rule provides a comprehensive set of rules governing funds transfers over the FedNow Service and provides legal certainty and clarity on the rights and obligations of parties to a transfer over the FedNow Service. ... -
National Transportation Safety Board Chair Jennifer Homendy Praises House for Passing Duck Boat Safety Measure
National Transportation Safety Board Chair Jennifer Homendy Praises House for Passing Duck Boat Safety Measure | site |
Information contained in National Transportation Safety Board (NTSB) press release dated: April 1, 2022 Washington (April 1, 2022) – National Transportation Safety Board Chair Jennifer Homendy Friday praised the House of Representatives for passing a Coast Guard reauthorization bill that includes policies to improve the safety of amphibious vessels known as DUKW boats and holds the Coast Guard accountable to NTSB safety recommendations. DUKW boats, also known as duck boats, were designed and built in the 1940s for military use during World War II; some were later converted for commercial service. They are unique vessels with special challenges that must be addressed to ensure passenger safety. They require greater stability and reserve buoyancy, canopy and seatbelt removal before waterborne operations and training for crews. The NTSB first identified... -
Federal Reserve Board announces it will extend Comment Period for Proposal to Implement a Framework for the Supervision of certain Insurance Organizations overseen by the Board until May 5, 2022
Federal Reserve Board announces it will extend Comment Period for Proposal to Implement a Framework for the Supervision of certain Insurance Organizations overseen by the Board until May 5, 2022 | site |
Information contained in Board of Governors press release dated: March 25, 2022 The Federal Reserve Board announced on Friday that it will extend until May 5, 2022, the comment period for its proposal to implement a framework for the supervision of certain insurance organizations overseen by the Board. The Board extended the comment period to allow parties additional time to prepare comments. Originally, comments were due by April 5, 2022. The proposed framework would apply to any depository institution holding company that is an insurance underwriting company or that has over 25 percent of its consolidated assets held by insurance underwriting subsidiaries. It would also formalize a supervisory rating system for these companies and... -
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 | (Information contained in Board of Governors of the Federal Reserve System press release dated: December 1, 2021) The Federal Reserve Board on Wednesday announced the approval of fee schedules, effective January 3, 2022, for payment services the Federal Reserve Banks provide to depository institutions, known as priced services. Overall, the Reserve Banks estimate that the price changes will result in a 3.7 percent average price increase. Increases in the fee schedule for 2022 are generally similar to previous years, except 2021 where fees other than the Check Services Participation Fee remained flat. The 2022 fee schedule for each of the priced services is available on the Federal Reserve Banks' financial services website at FRBservices.org®. The Reserve Banks project that they will recover 97.1 percent of their priced services costs in 2022. While the Reserve Banks do not expect to ful... -
Randal K. Quarles submits Resignation as a Member of the Federal Reserve Board, effective at the end of December
Randal K. Quarles submits Resignation as a Member of the Federal Reserve Board, effective at the end of December | site |
(Information contained in Board of Governors of the Federal Reserve System press release dated: November 8, 2021) Randal K. Quarles submitted his resignation Monday as a member of the Federal Reserve Board, effective at the end of December. He served as the Board's first Vice Chair for Supervision and has been a member of the Board since October 13, 2017. As Vice Chair for Supervision, he oversaw the supervision and regulation of financial firms in the Board's jurisdiction. He served simultaneously as Chair of the Financial Stability Board, or FSB, an international body established by the G20 to ensure the resilience of the global financial system. His three-year term as FSB Chair ends on December 2. In both positions, he played a central role in ensuring the safe operation of both the domestic and international financia... -
U.S. Social Security Board of Trustees says Combined Trust Funds Projected Depletion One Year Sooner Than Last Year
U.S. Social Security Board of Trustees: Combined Trust Funds Projected Depletion One Year Sooner Than Last Year | site |
(Information contained in U.S. Social Security Administration press release dated: August 31, 2021) The Social Security Board of Trustees today released its annual report on the long-term financial status of the Social Security Trust Funds. The combined asset reserves of the Old-Age and Survivors Insurance and Disability Insurance (OASI and DI) Trust Funds are projected to become depleted in 2034, one year earlier than projected last year, with 78 percent of benefits payable at that time. The OASI Trust Fund is projected to become depleted in 2033, one year sooner than last year’s estimate, with 76 percent of benefits payable at that time. The DI Trust Fund is estimated to become depleted in 2057, eight years earlier than last year’s estimate, with 91 percent of benefits still payable. In the 2021 Annual Report... -
Minutes of the Federal Reserve Board's Discount Rate Meetings on July 19 and July 28, 2021
Minutes of the Federal Reserve Board's Discount Rate Meetings on July 19 and July 28, 2021 | site |
(Information contained in Board of Governors of the Federal Reserve System press release dated: August 24, 2021)
The Federal Reserve Board on Tuesday released the minutes of its interest rate meetings on July 19 and July 28, 2021.
The minutes are attached.
Attachment (PDF)... -
Federal Trade Commission Urges Federal Reserve Board to Require Debit Card Gatekeepers to Compete Fairly
Federal Trade Commission Urges Federal Reserve Board to Require Debit Card Gatekeepers to Compete Fairly | site |
FTC says, "As mobile and electronic payments become the norm, Commission staff advocate for more competition to protect businesses and families from unfair fees"
(Information contained in Federal Trade Commission [FTC] press release dated: August 12, 2021)
The Federal Trade Commission announced that staff have submitted a comment urging the Board of Governors of the Federal Reserve System (the Fed) to clarify and strengthen the implementation of debit card fee and routing reforms to the Electronic Fund Transfer Act (EFTA) made under the Dodd-Frank Wall Street Reform Act of 2010 (Dodd-Frank).
According to a 2019 study, Americans use debit cards almost twice as often as credit cards. Merchants, including millions of small businesses, must pay fees to card issuers, usually banks, and card... -
Federal Reserve Board announces the Individual Capital Requirements for all large Banks, effective on October 1
Federal Reserve Board announces the Individual Capital Requirements for all large Banks, effective on October 1 | site |
(Information contained in Board of Governors of the Federal Reserve System press release dated: August 5, 2021)
Following its stress test earlier this year, the Federal Reserve Board on Thursday announced the individual capital requirements for all large banks, effective on October 1. Those capital requirements ensure that the large banks tested will hold roughly $1 trillion in high-quality capital—enough to survive a severe recession and still be able to lend to households and businesses. Large bank capital requirements are in part determined by the Board's stress test results, which provide a risk-sensitive and forward-looking assessment of capital needs. The below table shows the total common equity tier 1, or CET1, capital requirements for each bank, which is made up of several components, including:...
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Federal Reserve Board finalizes updates to the Board’s Rule concerning Debit Card Transactions | site | Information contained in Board of Governors of the Federal Reserve System press release dated: October 3, 2022 The Federal Reserve Board on Monday finalized updates to the Board's rule concerning debit card transactions. Pursuant to statute, the updates specify that debit card issuers should enable at least two payment card networks to process all debit card transactions, including "card-not-present" transactions, such as online payments.1 The final rule is substantially similar to the proposal issued last year. By law, the Board is required to make rules ensuring that debit card issuers give merchants the opportunity to choose between at least two unaffiliated networks when routing debit card transactions. When the Board initially issued the rule in July 2011, the market had not developed solutions to broadly support multiple networks for card-not-pr...10-22-2022, 03:36 PM -
Michael S. Barr sworn in as Vice Chair for Supervision 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: July 19, 2022
Michael S. Barr took the oath of office as Vice Chair for Supervision and a member of the Board of Governors of the Federal Reserve System on Tuesday. The oath was administered by Chair Jerome H. Powell in the press briefing room of the Board's Martin building.Chair Jerome H. Powell swears in Michael S. Barr on July 19, 2022 as Vice Chair for Supervision and a member of the Board of Governors of the Federal Reserve System.
President Biden nominated Mr. Barr on May 2, 2022, and he was confirmed by the United States Senate on July 13. His term as Vice Chair for Supervision ends on July 13, 2026, and his term as a member...07-19-2022, 02:01 PM -
Minutes of the Board's Discount Rate Meetings from May 16 through June 15, 2022
| site |
Information contained in Board of Governors of the Federal Reserve System press release dated: July 12, 2022
The Federal Reserve Board on Tuesday released the minutes of its interest rate meetings from May 16 through June 15, 2022.
The minutes are attached.
Attachment (PDF)...07-18-2022, 08:07 AM -
Social Security Board of Trustees says Outlook of Combined Trust Funds Improves | site |
Information contained in U.S. Social Security Administration press release dated: June 2, 2022
The Social Security Board of Trustees today released its annual report on the financial status of the Social Security Trust Funds. The combined asset reserves of the Old-Age and Survivors Insurance and Disability Insurance (OASI and DI) Trust Funds are projected to become depleted in 2035, one year later than projected last year, with 80 percent of benefits payable at that time.
The OASI Trust Fund is projected to become depleted in 2034, one year later than last year’s estimate, with 77 percent of benefits payable at that time. The DI Trust Fund asset reserves are not projected to become depleted during the 75-year projection period.
In the 2022 Annual Report to Congress, the Trustees announced:- The asset reserves of the combined
06-03-2022, 01:49 PM -
Minutes of the Board's Discount Rate Meetings from April 25 through May 4, 2022 | site |
Information contained in Board of Governors of the Federal Reserve System press release dated: May 31, 2022
The Federal Reserve Board on Tuesday released the minutes of its interest rate meetings from April 25 and May 4, 2022.
The minutes are attached.
Attachment (PDF)...06-02-2022, 07:31 PM -
Jerome H. Powell sworn in for second term as Chair 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: May 23, 2022
Jerome H. Powell on Monday took the oath of office for his second term as Chair of the Board of Governors of the Federal Reserve System. Chair Powell's oath was administered by Vice Chair LaelBrainard in the press briefing room of the Board's Martin building. President Biden re-nominated Mr. Powell in November 2021, and he was confirmed by the United States Senate on May 12, 2022. His new term as Chair ends on May 15, 2026, and his term as a member of the Board ends on Jan...Vice Chair Lael Brainard swears in Chair Jerome H. Powell on May 23, 2022 for his second term as Chair of the Board of Governors of the Federal Reserve System.
-05-27-2022, 01:43 AM -
Federal Reserve Board finalizes Rule that governs Funds Transfers over the Federal Reserve Banks' FedNow Service | site |
Information contained in Board of Governors of the Federal Reserve System press release dated: May 19, 2022 The Federal Reserve Board on Thursday finalized a rule that governs funds transfers over the Federal Reserve Banks' FedNow℠ Service. The final rule is substantially similar to the proposal from last year, with a few clarifications in response to comments. The FedNow Service is a new 24x7x365 interbank settlement service with clearing functionality to support instant payments in the United States and is expected to be available in 2023. The final rule provides a comprehensive set of rules governing funds transfers over the FedNow Service and provides legal certainty and clarity on the rights and obligations of parties to a transfer over the FedNow Service. ...05-23-2022, 05:15 PM -
National Transportation Safety Board Chair Jennifer Homendy Praises House for Passing Duck Boat Safety Measure | site |
Information contained in National Transportation Safety Board (NTSB) press release dated: April 1, 2022 Washington (April 1, 2022) – National Transportation Safety Board Chair Jennifer Homendy Friday praised the House of Representatives for passing a Coast Guard reauthorization bill that includes policies to improve the safety of amphibious vessels known as DUKW boats and holds the Coast Guard accountable to NTSB safety recommendations. DUKW boats, also known as duck boats, were designed and built in the 1940s for military use during World War II; some were later converted for commercial service. They are unique vessels with special challenges that must be addressed to ensure passenger safety. They require greater stability and reserve buoyancy, canopy and seatbelt removal before waterborne operations and training for crews. The NTSB first identified...04-16-2022, 03:18 PM -
Federal Reserve Board announces it will extend Comment Period for Proposal to Implement a Framework for the Supervision of certain Insurance Organizations overseen by the Board until May 5, 2022 | site |
Information contained in Board of Governors press release dated: March 25, 2022 The Federal Reserve Board announced on Friday that it will extend until May 5, 2022, the comment period for its proposal to implement a framework for the supervision of certain insurance organizations overseen by the Board. The Board extended the comment period to allow parties additional time to prepare comments. Originally, comments were due by April 5, 2022. The proposed framework would apply to any depository institution holding company that is an insurance underwriting company or that has over 25 percent of its consolidated assets held by insurance underwriting subsidiaries. It would also formalize a supervisory rating system for these companies and...04-04-2022, 10:13 PM -
Federal Reserve Board approves Fee Schedule for Federal Reserve Bank Priced Services | site | (Information contained in Board of Governors of the Federal Reserve System press release dated: December 1, 2021) The Federal Reserve Board on Wednesday announced the approval of fee schedules, effective January 3, 2022, for payment services the Federal Reserve Banks provide to depository institutions, known as priced services. Overall, the Reserve Banks estimate that the price changes will result in a 3.7 percent average price increase. Increases in the fee schedule for 2022 are generally similar to previous years, except 2021 where fees other than the Check Services Participation Fee remained flat. The 2022 fee schedule for each of the priced services is available on the Federal Reserve Banks' financial services website at FRBservices.org®. The Reserve Banks project that they will recover 97.1 percent of their priced services costs in 2022. While the Reserve Banks do not expect to ful...12-04-2021, 10:28 PM
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Randal K. Quarles submits Resignation as a Member of the Federal Reserve Board, effective at the end of December | site |
(Information contained in Board of Governors of the Federal Reserve System press release dated: November 8, 2021) Randal K. Quarles submitted his resignation Monday as a member of the Federal Reserve Board, effective at the end of December. He served as the Board's first Vice Chair for Supervision and has been a member of the Board since October 13, 2017. As Vice Chair for Supervision, he oversaw the supervision and regulation of financial firms in the Board's jurisdiction. He served simultaneously as Chair of the Financial Stability Board, or FSB, an international body established by the G20 to ensure the resilience of the global financial system. His three-year term as FSB Chair ends on December 2. In both positions, he played a central role in ensuring the safe operation of both the domestic and international financia...11-09-2021, 11:35 PM -
U.S. Social Security Board of Trustees: Combined Trust Funds Projected Depletion One Year Sooner Than Last Year | site |
(Information contained in U.S. Social Security Administration press release dated: August 31, 2021) The Social Security Board of Trustees today released its annual report on the long-term financial status of the Social Security Trust Funds. The combined asset reserves of the Old-Age and Survivors Insurance and Disability Insurance (OASI and DI) Trust Funds are projected to become depleted in 2034, one year earlier than projected last year, with 78 percent of benefits payable at that time. The OASI Trust Fund is projected to become depleted in 2033, one year sooner than last year’s estimate, with 76 percent of benefits payable at that time. The DI Trust Fund is estimated to become depleted in 2057, eight years earlier than last year’s estimate, with 91 percent of benefits still payable. In the 2021 Annual Report...09-08-2021, 10:02 AM -
Minutes of the Federal Reserve Board's Discount Rate Meetings on July 19 and July 28, 2021 | site |
(Information contained in Board of Governors of the Federal Reserve System press release dated: August 24, 2021)
The Federal Reserve Board on Tuesday released the minutes of its interest rate meetings on July 19 and July 28, 2021.
The minutes are attached.
Attachment (PDF)...08-25-2021, 01:34 PM -
Federal Trade Commission Urges Federal Reserve Board to Require Debit Card Gatekeepers to Compete Fairly | site |
FTC says, "As mobile and electronic payments become the norm, Commission staff advocate for more competition to protect businesses and families from unfair fees"
(Information contained in Federal Trade Commission [FTC] press release dated: August 12, 2021)
The Federal Trade Commission announced that staff have submitted a comment urging the Board of Governors of the Federal Reserve System (the Fed) to clarify and strengthen the implementation of debit card fee and routing reforms to the Electronic Fund Transfer Act (EFTA) made under the Dodd-Frank Wall Street Reform Act of 2010 (Dodd-Frank).
According to a 2019 study, Americans use debit cards almost twice as often as credit cards. Merchants, including millions of small businesses, must pay fees to card issuers, usually banks, and card...08-19-2021, 12:48 AM -
Federal Reserve Board announces the Individual Capital Requirements for all large Banks, effective on October 1 | site |
(Information contained in Board of Governors of the Federal Reserve System press release dated: August 5, 2021)
Following its stress test earlier this year, the Federal Reserve Board on Thursday announced the individual capital requirements for all large banks, effective on October 1. Those capital requirements ensure that the large banks tested will hold roughly $1 trillion in high-quality capital—enough to survive a severe recession and still be able to lend to households and businesses. Large bank capital requirements are in part determined by the Board's stress test results, which provide a risk-sensitive and forward-looking assessment of capital needs. The below table shows the total common equity tier 1, or CET1, capital requirements for each bank, which is made up of several components, including:...08-18-2021, 01:42 AM -
Federal Reserve Board announces it will extend for a final time its Paycheck Protection Program Liquidity Facility, or PPPLF, by an additional Month to July 30, 2021 | site |
(Information contained in Board of Governors of the Federal Reserve System press release dated: June 25, 2021) The Federal Reserve Board on Friday announced it will extend for a final time its Paycheck Protection Program Liquidity Facility, or PPPLF, by an additional month to July 30, 2021. The extension is being made as an operational accommodation to allow additional processing time for banks, community development financial institutions, and other financial institutions to pledge to the facility any Paycheck Protection Program, or PPP, loans approved by the Small Business Administration through the June 30 expiration of the PPP program. The PPPLF extends term credit to financial institutions making PPP loans, accepting the PPP loans as collateral. The liquidity provided ...07-14-2021, 03:04 PM -
African American elected to Boeing Company Board of Directors | site |
Company taps former Air Force General and United Airlines Pilot Stayce D. Harris
Air Force General and Pilot Stayce D. Harris
(Courtesy: The Boeing Company)
The Boeing Company has announced that it has elected to its Board of Directors Pilot and General Stayce D. Harris. More information is available HERE...07-02-2021, 06:51 AM -
Federal Reserve Board releases results of annual Bank Stress Tests, which show that large Banks continue to have strong Capital Levels and could continue Lending to Households and Businesses during a severe Recession | site |
(Information contained in Board of Governors of the Federal Reserve System press release dated: June 24, 2021) The Federal Reserve Board on Thursday released the results of its annual bank stress tests, which showed that large banks continue to have strong capital levels and could continue lending to households and businesses during a severe recession. "Over the past year, the Federal Reserve has run three stress tests with several different hypothetical recessions and all have confirmed that the banking system is strongly positioned to support the ongoing recovery," said Vice Chair for Supervision Randal K. Quarles. All 23 large banks tested remained well above their risk-based minimum capital requirem...06-25-2021, 12:07 PM -
U.S. Small Business Administration Administrator Isabella Casillas Guzman meets with the Spanish Broadcasting System Board Members | site |
(Information contained in U.S. Small Business Administration [SBA] press release dated: June 23, 2021)
Washington - - On June 16, U.S. Small Business Administrator Isabella Casillas Guzman and the executive board of the Spanish Broadcasting System met at a virtual roundtable. The group discussed the priorities of the Biden – Harris Administration and the equity focus on economic aid made possible by the American Rescue Plan Act, especially to those in underserved communities.
“As the first Latina in President Biden’s Cabinet, I’ve made outreach to my Hispanic familia one of my key priorities,” said SBA Administrator Guzman. “Your partnership is vital in that effort – the Hispanic media has a long history of telling the story of our nation’s...06-25-2021, 08:27 AM -
Federal Reserve Board extends Comment Period on Proposed Changes to Regulation II regarding Network Availability for Card-not-present Debit Card Transactions until August 11, 2021 | site |
(Information contained in Board of Governors of the Federal Reserve System press release dated: June 22, 2021)
The Federal Reserve Board announced on Tuesday that it will extend until August 11, 2021, the comment period for its proposed changes to Regulation II (Debit Card Interchange Fees and Routing) that would 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 extended the comment period to allow interested persons more time to analyze the issues and prepare their comments. Originally, comments were due by July 12, 2021.
The Board's Federal Register notice is attached. ...06-23-2021, 05:40 AM -
Federal Reserve Board and Federal Open Market Committee release Economic Projections from the June 15-16 FOMC Meeting | site |
(Information contained in Board of Governors of the Federal Reserve System press release dated: June 16, 2021)
The attached tables and charts released on Wednesday summarize the economic projections made by Federal Open Market Committee participants in conjunction with the June 15-16 meeting.
Projections (PDF) | Accessible Materials...06-18-2021, 04:11 AM -
Federal Reserve Board Chair Powell will host Town Hall with Educators August 2, 2021 at 4 p.m. EDT | site |
(Information contained in Board of Governors of the Federal Reserve System press release dated: June 17, 2021)
Federal Reserve Board Chair Jerome H. Powell will host a town hall with educators on August 2, 2021 at 4 p.m. EDT. During the event, Chair Powell will respond to questions asked by participants who will join the event virtually from across the country.
The event will be broadcast at federalreserve.gov and at youtube.com/federalreserve. Viewers can follow the Federal Reserve Board on Twitter at @FederalReserve, on Facebook at facebook.com/federalreserve, and join in on the discussion by using the hashtag: #FedTownHall....06-17-2021, 07:32 PM -
Federal Reserve Board announces that Results from its Bank Stress Tests will be released on Thursday, June 24, at 4:30 p.m. EDT | site |
(Information contained in Board of Governors of the Federal Reserve System press release dated: June 7, 2021) The Federal Reserve Board announced on Monday that results from its bank stress tests will be released on Thursday, June 24, at 4:30 p.m. EDT. Stress tests help ensure that banks have adequate capital to absorb losses so that they can lend to households and businesses even in a severe recession. For the 2021 stress tests, the resilience of large banks is being tested against a hypothetical recession featuring a severe global downturn with substantial stress in commercial real estate and corporate debt markets. Banks with more than $100 billion in total consolidated assets are subject to the Board's stress tests. The smaller banks among those subject to the Board's stress test are only required to pa...06-10-2021, 06:45 AM -
Federal Reserve Board announces Plans to begin Winding Down the Portfolio of the Secondary Market Corporate Credit Facility | site |
(Information contained in Board of Governors of the Federal Reserve System press release dated: June 2, 2021) The Federal Reserve Board on Wednesday announced plans to begin winding down the portfolio of the Secondary Market Corporate Credit Facility (SMCCF), a temporary emergency lending facility that closed on December 31st, 2020. The SMCCF proved vital in restoring market functioning last year, supporting the availability of credit for large employers, and bolstering employment through the COVID-19 pandemic. SMCCF portfolio sales will be gradual and orderly, and will aim to minimize the potential for any adverse impact on market functioning by taking into account daily liquidity and trading conditions for exchange traded funds and corporate bonds. The Federal Reserve Bank of New York, which manages the operations of the S...06-09-2021, 01:03 AM -
Federal Reserve Board issues Final Rule amending Regulation D with regard to Interest on Reserve Balances | site |
(Information contained in Board of Governors of the Federal Reserve System press release dated: June 2, 2021)
The Federal Reserve Board announced on Tuesday the approval of a final rule amending Regulation D to eliminate references to an interest on required reserves (IORR) rate and to an interest on excess reserves (IOER) rate and replace them with a single interest on reserve balances (IORB) rate. The final rule also simplifies the formula used to calculate the amount of interest to be paid on such balances and makes other minor conforming amendments. The final rule adopts the rule proposed by the Board on January 8, 2021 without change, and takes effect on Thursday, July 29, 2021.
Federal Register notice: Regulation D: Reserve Requirements of Depository Institutions...06-05-2021, 12:54 AM -
Federal Reserve Board releases results of Survey of Senior Financial Officers at Banks about their Strategies and Practices for managing Reserve Balances| site |
(Information contained in Board of Governors of the Federal Reserve System press release dated: May 20, 2021) The Federal Reserve Board on Thursday released results of a survey of senior financial officers at banks about their strategies and practices for managing reserve balances. The Senior Financial Officer Survey is used by the Board to obtain information about deposit pricing and behavior, bank liability management, the provision of financial services, and reserve management strategies and practices. The most recent survey was conducted in collaboration with the Federal Reserve Bank of New York between March 19, 2021, and April 2, 2021, and includes responses from banks that held approximately three quarters of total banking system reserve balances at the time of the survey. Information a...05-27-2021, 02:41 PM -
Secretary of the U.S. Treasury Janet L. Yellen’s Meeting with the American Bankers Association Board of Directors | site |
(Information contained in U.S. Department of the Treasury press release dated: May 18, 2021) Earlier today, Secretary of the Treasury Janet L. Yellen met with members of the American Bankers Association (ABA) Board of Directors to discuss ways the Treasury Department and the ABA can work together to facilitate a strong recovery over the short-term and a robust economic expansion over the longer-term. The Secretary highlighted the role of banks as a necessary source of strength due to their critical role channeling emergency government support to households and businesses through the Paycheck Protection Program and Economic Impact Payments. The Secretary also noted the crucial role banks can play as part of the Biden Administration’s historic investments in both infrastructure and the essential services for families -like childcare- ...05-20-2021, 12:18 AM -
U.S. Small Business Administration Administrator Isabella Casillas Guzman meets with Board of the National Association of Hispanic Publications | site |
(Information contained in U.S. Small Business Administration [SBA] press release dated: May 17, 2021)
Washington - - On May 13, U.S. Small Business Administrator Isabella Casillas Guzman and the executive board of the National Association of Hispanic Publications met at a virtual roundtable. The group discussed the priorities of the Biden – Harris Administration and the equity focus on economic aid made possible by the American Rescue Plan Act, especially those in underserved communities.
“As the first Latina in President Biden’s Cabinet, I’ve made outreach to my Hispanic familia one of my key priorities,” said SBA Administrator Guzman. “Your partnership is vital in that effort – the Hispanic media has a long history of telling the story of our nation’s...05-17-2021, 10:37 PM -
Federal Reserve Board issues Report on the Economic Well-Being of U.S. Households | site |
(Information contained in Board of Governors of the Federal Reserve System press release dated: May 17, 2021)
In the fourth quarter of 2020, nearly one-fourth of adults said that they were worse off financially compared to a year earlier, reflecting the economic fallout and distress resulting from the global COVID-19 pandemic. The Federal Reserve Board's report, Economic Well-Being of U.S. Households in 2020, which was released on Monday, found a larger share of adults were worse off in 2020 than in previous years of the survey. This change occurred broadly across the population, but not all groups fared similarly. Despite the increase in the share of Americans doing worse off financially, most believed they were still at least doing "okay" financially overall. Seventy-five percent of adults were either doing okay or living comfortably in November, w...05-17-2021, 10:20 PM -
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, 03:43 PM -
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...05-06-2021, 08:04 PM -
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)...03-08-2021, 10:19 PM -
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, 04:54 AM -
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, 05:56 AM -
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...02-22-2021, 09:03 PM -
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, 01:38 AM -
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...01-22-2021, 07:23 PM -
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 ...01-21-2021, 07:48 PM -
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...01-21-2021, 11:03 AM -
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...01-19-2021, 10:15 PM -
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...01-18-2021, 11:54 PM -
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...01-12-2021, 03:15 PM -
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...01-11-2021, 01:47 PM -
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...12-24-2020, 05:36 PM -
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.On January 16, President Trump announced his intention to nominate Dr....
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)12-21-2020, 05:09 PM -
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...12-21-2020, 11:59 AM -
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...12-17-2020, 07:52 PM -
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 ...12-05-2020, 02:46 AM -
Federal Reserve Board announces Results from Second Round of Bank Stress Tests will be Released Friday, December 18, at 4:30 p.m. EST | site |
(Information contained in Board of Governors of the Federal Reserve System press release: December 4, 2020) The Federal Reserve Board announced on Friday that results from its second round of bank stress tests will be released on Friday, December 18, at 4:30 p.m. EST. Stress tests help ensure that banks have adequate capital to absorb losses so that they can lend to households and businesses even in a severe recession. For this second round of stress tests, large banks will be tested against two scenarios, each featuring a severe recession to assess their resiliency. Earlier this year, the Board's first round of stress tests found that large banks were well capitalized. Nonetheless, in light of the economic uncertainty, the Board is conducting this second round to further test the resiliency of banks. Banks with mo...12-04-2020, 02:33 PM -
Federal Reserve Board announces Members of its Insurance Policy Advisory Committee | site |
(Information contained in Board of Governors of the Federal Reserve System press release: December 3, 2020) The Federal Reserve Board on Thursday announced seven members, including three new members, of its Insurance Policy Advisory Committee, or IPAC. The members will serve three-year terms beginning in 2021. The IPAC, which was established by the Economic Growth, Regulatory Relief, and Consumer Protection Act, provides information, advice, and recommendations to the Board on domestic and international insurance issues. This year, the inaugural IPAC members began serving staggered terms ranging from one to three years, and four have been selected to serve three-year terms beginning next year. Additionally, three new members will also start three-year terms next year. IPAC members have expertise in life insurance, property and casualty insurance, and reinsuranc...12-04-2020, 03:08 AM -
Federal Reserve Board publishes Minutes of the Board's Discount Rate Meeting from October 5 through November 5, 2020 | site |
(Information contained in Board of Governors of the Federal Reserve System press release: December 1, 2020)
The Federal Reserve Board on Tuesday released the minutes of its interest rate meetings from October 5 through November 5, 2020.
The minutes are attached.
Attachment...12-01-2020, 09:20 PM -
Treasury and Federal Reserve Board Announce Extension of Four Lending Facilities Until March 31, 2021 | site |
(Information contained in U.S. Department of the Treasury press release: November 30, 2020)
Treasury and Federal Reserve Board Announce Extension of Four Lending Facilities Until March 31, 2021
Washington - - U.S. Treasury Secretary Steven T. Mnuchin sent a letter to Chairman of the Federal Reserve Board of Governors Jerome Powell approving the extension of four of its credit facilities until March 31, 2021. The extensions apply to the Commercial Paper Funding Facility and Money Market Mutual Fund Liquidity Facility, to which Treasury has provided funding drawn from the pre-existing Exchange Stabilization Fund balance, and the Primary Dealer Credit Facility and Paycheck Protection Program Liquidity Facility, which did not require Treasury funding. “The emergency lending facilities established to provide liquidity to...12-01-2020, 08:28 AM -
Federal Reserve Board announces Extension through March 31, 2021, for several of its Lending Facilities that were generally Scheduled to Expire on or around December 31 | site |
(Information contained in Board of Governors of the Federal Reserve System press release: November 30, 2020) The Federal Reserve Board on Monday announced an extension through March 31, 2021, for several of its lending facilities that were generally scheduled to expire on or around December 31. By backstopping critical short-term funding markets, these facilities are supporting market functioning and enhancing the flow of credit to the economy. The extension, which has also been approved by the Treasury Department, will facilitate planning by potential facility participants and provide certainty that the facilities will continue to be available through the first quarter of 2021 to help the economy recover from the COVID-19 pandemic. The extensions apply to the Commercial Paper Funding Fac...12-01-2020, 05:58 AM -
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, 04:21 PM -
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, 02:11 PM -
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...11-10-2020, 07:48 PM -
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...11-05-2020, 11:07 PM -
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, 04:48 PM -
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
11-04-2020, 05:31 PM -
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)...10-13-2020, 03:33 PM -
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...10-07-2020, 11:02 PM -
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...10-05-2020, 09:56 PM -
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, ...10-03-2020, 11:44 PM -
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...10-03-2020, 11:32 PM -
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...09-21-2020, 04:49 PM -
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...09-21-2020, 03:26 PM -
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...09-21-2020, 07:58 AM -
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...08-31-2020, 10:38 AM -
National Transportation Safety Board calls for Renewed Road Safety Effort as Nation Reopens | site |
(May 18, 2020) - - Today (May 18, 2020), the National Transportation Safety Board (NTSB) published the following information: WASHINGTON (May 18, 2020) — The National Transportation Safety Board is calling on Americans to practice highway safety with the same sense of responsibility they applied to reducing the spread of the coronavirus when they take to the nation’s roads as the country continues to reopen. In a “normal” year, more than 36,000 Americans are killed on our roads. While it is too early to tell what will happen to highway crash and fatality trends in the year of the pandemic, the desire to return to normality will increase the number of drivers on the road and that increases risk for highway users. “The number of traffic fatalities was a crisis before the pandemic,” said Robert L. Sumwalt, chairman of the National Transportation Safety Boar...05-29-2020, 02:00 AM -
Board of Governors of the Federal Reserve System publishes Minutes of the Board's Discount Rate Meeting on April 29, 2020 | site |
(May 26, 2020) - - Today (May 26, 2020), the Board of Governors of the Federal Reserve System published the following information:
The Federal Reserve Board on Tuesday released the minutes of its interest rate meeting on April 29, 2020.
The minutes are attached.
Attachment (PDF)...05-28-2020, 11:49 PM -
Federal Reserve Board extends the Application Period for Membership on the Community Advisory Council | site |
(May 26, 2020) - - Today, the Board of Governors of the Federal Reserve System published the following information:
The Federal Reserve Board has extended until July 3, 2020, the application period for membership on the Community Advisory Council.
The application period has been extended in light of ongoing challenges for households and businesses caused by the COVID-19 emergency in order to provide additional opportunity for interested persons to submit their applications.
The Board's Federal Register notice is attached. Applications were originally due by June 5, 2020.
Federal Register notice: Solicitation of Applications for Membership on the Community Advisory Council Extension of Application Period (PDF)...05-26-2020, 09:07 PM -
Federal Reserve Board Expands its Program of Support for Flow of Credit to the Economy by taking Steps to Enhance Liquidity and Functioning of Crucial State and Municipal Money Markets| site |
(March 20, 2020) - - Today (March 20, 2020), the Board of Governors of the Federal Reserve System published the following information: The Federal Reserve Board on Friday expanded its program of support for the flow of credit to the economy by taking steps to enhance the liquidity and functioning of crucial state and municipal money markets. Through the Money Market Mutual Fund Liquidity Facility, or MMLF, the Federal Reserve Bank of Boston will now be able to make loans available to eligible financial institutions secured by certain high-quality assets purchased from single state and other tax-exempt municipal money market mutual funds. The attached term sheet details the assets that are eligible under the MMLF program, as well as additional information. More deta...03-23-2020, 05:45 AM -
Federal Reserve Board Encouraged by Increase in Discount Window Borrowing to Support the Flow of Credit to Households and Businesses | site |
March 19. 2020) - - Today (March 19, 2020), the Board of Governors of the Federal Reserve System published the following information:
The Federal Reserve Board is encouraged by the notable increase in discount window borrowing this week with banks demonstrating a willingness to use the discount window as a source of funding to support the flow of credit to households and businesses.
This uptick follows the recent changes to the discount window announced by the Federal Reserve and the federal banking regulators' recent statement encouraging financial institutions to use the discount window. In that statement, the Federal Reserve and other federal regulatory agencies underscored the role of the discount window. By providing ready access to funding, the discount window helps depository institution...03-23-2020, 04:57 AM -
Federal Reserve Board broadens Program of Support for the Flow of Credit to Households and Businesses by establishing a Money Market Mutual Fund Liquidity Facility (MMLF)| site |
(March 18, 2020) - - Today, the Board of Governors of the Federal Reserve System published the following information: The Federal Reserve Board on Wednesday broadened its program of support for the flow of credit to households and businesses by taking steps to enhance the liquidity and functioning of crucial money markets. Through the establishment of a Money Market Mutual Fund Liquidity Facility, or MMLF, the Federal Reserve Bank of Boston will make loans available to eligible financial institutions secured by high-quality assets purchased by the financial institution from money market mutual funds. Money market funds are common investment tools for families, businesses, and a range of companies. The MMLF will assist money market funds in meeting demands for redemptions by househol...03-19-2020, 06:30 AM -
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Federal Reserve Board announces establishment of a Primary Dealer Credit Facility| site |
Primary Dealer Credit Facility (PDCF) to support the credit needs of households and businesses
(March 17, 2020) - - Today (March 17, 2020), the Board of Governors of the Federal Reserve System published the following information: To support the credit needs of American households and businesses, the Federal Reserve Board on Tuesday announced that it will establish a Primary Dealer Credit Facility, or PDCF. The facility will allow primary dealers to support smooth market functioning and facilitate the availability of credit to businesses and households. The PDCF will offer overnight and term funding with maturities up to 90 days and will be available on March 20, 2020. It will be in place for at least six months and may be extended as conditions warrant. Credit extended to primary dealers under this facility may be collateralized by a broad range of inv...03-18-2020, 06:28 AM -
Federal Reserve Board announces establishment of a Commercial Paper Funding Facility| site |
Commercial Paper Funding Facility (CPFF) to support the flow of credit to households and businesses
(March 17, 2020) - - Today (March 17, 2020), the Board of Governors of the Federal Reserve System published the following information: The Federal Reserve Board announced today that it will establish a Commercial Paper Funding Facility (CPFF) to support the flow of credit to households and businesses. Commercial paper markets directly finance a wide range of economic activity, supplying credit and funding for auto loans and mortgages as well as liquidity to meet the operational needs of a range of companies. By ensuring the smooth functioning of this market, particularly in times of strain, the Federal Reserve is providing credit that will support families, businesses, and jobs across the economy. The CPFF will provide a liquidity backstop to U.S. iss...03-18-2020, 06:14 AM -
Federal Reserve Board publishes Community Reinvestment Act Analytics Data Tables| site |
(March 6, 2020) - - Today, the Board of Governors of the Federal Reserve System published the following information:
The Federal Reserve Board on Friday released a series of Community Reinvestment Act (CRA) Analytics Data Tables. This data resource is intended to provide insight into the historical relationship between bank lending activity and regulatory assessments.
The tables combine Home Mortgage Disclosure Act (HMDA) data, CRA small business and small farm loan data, and manually extracted data from CRA Performance Evaluations. Bank attributes, deposit, branching, demographic, and other third-party vendor data supplement the tables.
More information about this database can be found here: https://www.federalreserve.gov/consu...ata_tables.htm...03-06-2020, 07:29 PM -
Federal Reserve Board Approves Rule to Simplify its Capital Rules for Large Banks, Preserving the Strong Capital Requirements Already in Place| site |
(March 4, 2020) - - Today, the Board of Governors of the Federal Reserve System published the following information: The Federal Reserve Board on Wednesday approved a rule to simplify its capital rules for large banks, preserving the strong capital requirements already in place. The "stress capital buffer," or SCB, integrates the Board's stress test results with its non-stress capital requirements. As a result, required capital levels for each firm would more closely match its risk profile and likely losses as measured via the Board's stress tests. The rule is broadly similar to the proposal from April 2018, with a few changes in response to comments. "The stress capital buffer materially simplifies the post-crisis capital framework for banks, while maintaining the strong capital requirements that ar...03-05-2020, 03:46 PM -
Minutes of the Board's Discount Rate Meetings from January 21 and January 29, 2020| site |
February 25, 2020) - - Today, the Board of Governors of the Federal Reserve System published the following information:
The Federal Reserve Board on Tuesday released the minutes of its interest rate meetings on January 21 and January 29, 2020.
The minutes are attached.
Attachment (PDF)...02-26-2020, 05:35 AM -
Federal Reserve Board releases Hypothetical Scenarios for its 2020 Stress Test Exercises| site |
(February 6, 2020) - - Today (February 6, 2020), the Board of Governors of the Federal Reserve System published the following information: The Federal Reserve Board on Thursday released the hypothetical scenarios for the 2020 stress test exercises, which ensure that large banks have adequate capital and processes so that they can continue lending to households and businesses, even during a severe recession. The harshest scenario includes a severe global recession with heightened stresses in corporate debt markets and commercial real estate, and for banks with large trading operations, additional pressure on leveraged loans. The Board's stress test framework consists of the Comprehensive Capital Analysis and Review, also known as CCAR, and the Dodd-Frank Act stress tests. Both exercises have been a cornerstone of the Board's post-crisis framework for large banks, and th...02-19-2020, 12:54 AM -
Federal Reserve Board announces Termination of Enforcement Actions with Discover Financial Services, JPMorgan Chase & Co., Deutsche Bank AG, and The Royal Bank of Scotland PLC and RBS Securities, Inc.| site |
(February 13, 2020) - - Today, the Board of Governors of the Federal Reserve System published the following information:
The Federal Reserve Board on Thursday announced the termination of the enforcement actions listed below:
Discover Financial Services, Riverwoods, Illinois
Written Agreement, dated May 26, 2015
Terminated February 5, 2020
JPMorgan Chase & Co., New York, New York
Cease and Desist Order dated November 17, 2016
Terminated February 11, 2020
Deutsche Bank AG, Frankfurt am Main, Germany
Cease and Desist Order dated April 20, 2017 Terminated February 11, 2020 The Royal Bank of Scotland PLC, Edinburgh, Scotland and RBS Securities Inc. (n.k.a NatWest Markets Securities Inc.),...02-14-2020, 11:14 PM -
National Transportation Safety Board Issues Investigative Update on Sikorsky Helicopter Crash| site |
(February 7, 2020) - - Today (February 7, 2020), the National Transportation Safety Board (NTSB) published the following information: The National Transportation Safety Board issued an investigative update Friday for its ongoing investigation of the fatal, Jan. 26, 2020, helicopter crash near Calabasas, California. The Sikorsky S-76B helicopter collided with hilly terrain and was destroyed by impact forces and fire. The pilot and eight passengers were fatally injured. The helicopter operated by Island Express Helicopters Inc., was on an on-demand passenger visual flight rules flight from John Wayne-Orange County Airport, in Santa Ana, California, to Camarillo Airport, in Camarillo, California. "Our investigators have already developed a substantial amount of evidence about the circumstances of this tragic crash," said NTSB Chairman Robert L. Sumwalt. "And we...02-11-2020, 01:39 AM -
U.S. Secretary of Education Betsy DeVos Appoints Three New Members, Chair To Board Overseeing The Nation’s Report Card| site |
Former Mississippi Gov. Haley Barbour named chair of National Assessment Governing Board
(January 30, 2020) - - Today (January 30, 2020), the U.S. Department of Education published the following information: WASHINGTON — U.S. Secretary of Education Betsy DeVos has appointed a former governor, engineering curriculum specialist, and twelfth-grade U.S. government and politics teacher to four-year terms on the National Assessment Governing Board, which oversees the only continuing, nationally representative evaluation of U.S. students' knowledge. Secretary DeVos named former Mississippi Gov. Haley Barbour, one of the new appointees, as chair of the Board. The Governing Board is a nonpartisan body that works independently from the U.S. Department of Education to set policy for the National Assessment of Educational Progress...02-03-2020, 06:32 PM -
World Health Organization Board Appoints Directors for Africa and Europe| site |
Geneva, Switzerland - - (February 3, 2020) - - Today, the World Health Organization (WHO) published the following information:
The WHO Executive Board, currently holding its 146th session in Geneva, has re-appointed Dr Matshidiso Moeti for a second term as WHO Regional Director for Africa and Dr Hans Kluge as Regional Director for Europe in his first term.
Re-election of the Regional Director for Africa
“I am greatly honoured to have been appointed to serve a second term as the WHO Regional Director for Africa and I would like to thank you for the trust you have shown,” said Dr Moeti. “As Africa increasingly faces the double burden of diseases, the next five years in public health will be crucial in laying a strong foundation to reverse this burden.” Dr Moeti, who is from Botswana, said she will accelerate action towards attaining u...02-03-2020, 05:14 PM -
Addition of Graham, Chapman, brings National Transportation Safety Board back to 5 Members| site |
(January 2, 2020) - - Today (January 2, 2020), the National Transportation Safety Board (NTSB) published the following information:
The National Transportation Safety Board is set to welcome aboard Michael Graham and Thomas Chapman as its newest board members, bringing the board to its full complement of five members for the first time since Feb. 15, 2019.
Graham is set to be sworn in Friday, by NTSB Chairman Robert Sumwalt, and Chapman on Monday. President Donald J. Trump nominated Graham and Chapman and the Senate voted to confirm them Dec. 19, 2019. Graham’s term as a board member is through 2025, and Chapman’s term runs through the end of 2023. Graham previously served as the director of Flight Operations Safety, Security and Standardization for Textron Aviation, Inc., overseeing their safety management system, global security an...01-18-2020, 12:11 AM -
Federal Reserve Board announces members of its Community Depository Institutions Advisory Council for 2020| site |
(January 14, 2020) - - Today, the Board of Governors of the Federal Reserve System published the following information: The Federal Reserve Board on Tuesday announced the members of its Community Depository Institutions Advisory Council (CDIAC) and the president of the council for 2020. The CDIAC advises the Board on the economy, lending conditions, and other issues of interest to community depository institutions. Members are selected from representatives of commercial banks, thrift institutions, and credit unions serving on local advisory councils at the 12 Federal Reserve Banks. One member of each of the Reserve Bank councils serves on the CDIAC, which meets twice a year with the Federal Reserve Board in Washington. Further information on the CDIAC, including records from past meetings, can be found here. Dorothy A. Savarese, chair and chie...01-16-2020, 05:38 PM -
Federal Reserve Board announces Reserve Bank Income and Expense Data and Transfers to the Treasury for 2019| site |
(January 10, 2020) - - Today (January 10, 2020), the Board of Governors of the Federal Reserve Board published the following information: The Federal Reserve Board on Friday announced preliminary results indicating that the Reserve Banks provided for payments of approximately $54.9 billion to the U.S. Treasury. The 2019 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' 2019 estimated net income of $55.5 billion represents a decrease of $7.6 billion from 2018. The decline in net income was primarily attributable to a decrease of $9.5 billion in interest income on securities acquired through open market operations and a $1.5 billion increase in interest expense on securities sold under agreement to repurchase. A $3.5 bill...01-15-2020, 01:46 AM -
UPDATE 1: National Transportation Safety Board Statement on Ukraine International Airlines flight PS752 Crash Investigation| site |
(January 9, 2020) - - Today (January 9, 2020), the National Transportation Safety Board (NTSB) published the following information: The National Transportation Safety Board’s Response Operations Center received formal notification from the Aircraft Accident Investigation Board of the Civil Aviation Organization of Iran of the crash of Ukraine International Airlines flight PS752. Under ICAO Annex 13, the NTSB has designated an accredited representative to the investigation of the crash, involving a Boeing 737-800. The NTSB continues to monitor the situation surrounding the crash and evaluate its level of participation in the investigation. As with any investigation in which the NTSB is involved, the agency will not speculate about the cause of the crash. Iran’s AAIB is the lead investigative agency and questions regarding the progress ...01-13-2020, 04:59 PM -
Federal Reserve Board announces Appointment of the Chairs and Deputy Chairs of the Federal Reserve Banks for 2020| site |
(January 10, 2020) - - Today (January 10, 2020), the Board of Governors of the Federal Reserve Bank published the following information:
The Federal Reserve Board on Friday announced the designation of the Chairs and Deputy Chairs of the 12 Federal Reserve Banks for 2020.
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 2020:
Boston Phillip L. Clay, professor emeritus of city planning, Massachusetts Institute of Technology, Cambridge, Massachusetts, renamed Chair. Christina Hull Paxson, president, Brown University, Providence, Rhode Island, ren...01-13-2020, 04:16 PM -
National Transportation Safety Board Releases Preliminary Report on South Dakota Crash InvestigationNational Transportation Safety Board Releases Preliminary Report on South Dakota Crash Investigation| site |
(December 17, 2019) - - Today, the National Transportation Safety Board (NTSB) published the following information:
WASHINGTON (Dec. 17, 2019) — The National Transportation Safety Board issued its preliminary report Tuesday for its investigation of the Nov. 30, 2019, crash of a Pilatus PC12 in Chamberlain, South Dakota, which killed the pilot and eight passengers and injured three others.
The airplane was registered to Conrad & Bischoff, Inc., and operated by the pilot as a personal flight from Chamberlain Municipal Airport destined for Idaho Falls Regional Airport, Idaho.
According to preliminary data recovered from the data recorder installed on the airplane, the accident takeoff began from runway 31 about 12:31 p.m. central standard time. The airplane immediately rolled about 10 degrees to the left after...12-21-2019, 06:43 PM -
Federal Reserve Board issues Enforcement Action with Société Générale S.A. and Société Générale, New York Branch| site |
(December 19, 2019) - - Today, the Board of Governors of the Federal Reserve System published the following information:
The Federal Reserve Board on Thursday announced the execution of the enforcement action listed below:
Société Générale S.A., Paris, France, and Société Générale, New York Branch, New York, New York
Written Agreement dated December 17, 2019
Additional enforcement actions can be searched for here....12-19-2019, 05:27 PM -
Two New York Commuter Rail Systems Implement National Transportation Safety Board Most Wanted List Recommendations | site |
(December 16, 2019) - - Today, the National Transportation Safety Board (NTSB) published the following information:
WASHINGTON (Dec. 16, 2019) — Two of the country’s largest commuter rail operators recently enhanced the safety of their systems by implementing safety recommendations on the National Transportation Safety Board’s 2019-2020 Most Wanted List of Transportation Safety Improvements.
The safety recommendations to Metro-North Railroad and Long Island Railroad were the result of the NTSB’s investigation into five accidents involving Metro-North trains in Connecticut and New York that killed six people, injured 126 more and resulted in more than $28 million in damages. All five accidents occurred in 2013 and 2014. “The most important outcomes from NTSB investigations are the implementation of safety r...12-19-2019, 08:06 AM -
Federal Reserve Board announces Approval of Application by First Citizens BancShares, Inc. | site |
(December 16, 2019) - - Today, the Board of Governors of the Federal Reserve System published the following information:
The Federal Reserve Board on Monday announced its approval of the application under section 3 of the Bank Holding Company Act of 1956 by First Citizens BancShares, Inc., Raleigh, North Carolina, to acquire Entegra Financial Corp. ("Entegra") and thereby indirectly acquire Entegra's state nonmember bank subsidiary, Entegra Bank, both of Franklin, North Carolina.
Attached is the Board's order relating to this action.
Attachment...12-17-2019, 02:56 AM -
Federal Reserve Board announces Annual Adjustment to the Asset-size Threshold in Regulation I | site |
(December 12, 2019) - - Today, the Board of Governors of the Federal Reserve System published the following information: The Federal Reserve Board on Thursday announced the annual adjustment to the asset-size threshold in Regulation I that determines the dividend rate paid to banks that are members of the Federal Reserve System. The updated total consolidated asset threshold is $10.715 billion through December 31, 2020. Member banks hold stock in the Federal Reserve Banks and earn dividends. However, holding this stock does not carry with it the control and financial interest given to holders of common stock in for-profit organizations. The stock may not be sold or pledged as collateral for loans. Section 7(a)(1) of the Federal Reserve Act provides that member banks with total consolidated assets above the asset-size threshold shall receive a dividend ...12-13-2019, 11:36 PM -
National Transportation Safety Board says U.S. Aviation Fatalities Increased in 2018 | site |
(November 14, 2019) - - Today (November 14, 2019), the National Transportation Safety Board (NTSB) published the following information: WASHINGTON (Nov. 14, 2019) — U.S. civil aviation deaths increased from 347 in 2017 to 393 in 2018, according to preliminary statistics released Wednesday by the National Transportation Safety Board. The year 2018 saw the nation’s first airline passenger fatality since 2009, when a passenger on a Southwest airliner was killed in connection with an engine failure. Most aviation deaths in 2018 took place during general aviation operations, when 381 were killed, compared to 331 the year before. The fatal accident rate in general aviation was 1.029 accidents per 100,000 flight hours, compared to 2017’s rate of 0.935. Accidents in On-Demand Part 135 operations, which encompass charters, air taxis, air tours and medical serv...12-13-2019, 07:57 PM -
Federal Reserve Board and Federal Open Market Committee release Economic Projections from the December 10-11 FOMC Meeting | site |
(December 11, 2019) - - Today, the Board of Governors of the Federal Reserve System published the following information:
The attached table and charts released on Wednesday summarize the economic projections and the target federal funds rate projections made by Federal Open Market Committee participants for the December 10-11 meeting.
The table will be incorporated into a summary of economic projections released with the minutes of the December 10-11 meeting. Summaries of economic projections are released quarterly.
Projections | Accessible Materials
...12-13-2019, 05:33 AM -
National Transportation Safety Board issues 6 Safety Recommendations Following Investigation of Hydrogen Release, Fire | site |
(November 19, 2019) - - Today (November 19, 2019), the National Transportation Safety Board (NTSB) published the following information: The National Transportation Safety Board issued Hazardous Materials Incident Report 19/02, Tuesday, following its investigation of the Feb. 11, 2018, release of compressed hydrogen and subsequent fire in Diamond Bar, California. No injuries were reported in connection with the incident but approximately 1,500 people were evacuated and resulting damages were estimated at $175,000. An Air Products tube trailer with a mounted Structural Composite Industries model CT-250 tube trailer module with 25 cylinders, 24 of which were fully loaded with compressed hydrogen, caught fire while being transported on Golden Springs Drive, Diamond Bar. The incident happened when an incorrect pressure relief device in...12-07-2019, 08:12 PM -
National Transportation Safety Board says Multi-Faceted Approach Needed to Combat Rise in Bicyclist Fatalities | site |
(December 5, 2019) - - Today, the National Transportation Safety Board (NTSB) published the following information:
WASHINGTON (Dec. 5, 2019) — The National Transportation Safety Board’s report on bicyclist safety, issued Thursday, includes 22 safety recommendations addressing issues including roadway and intersection design, collision avoidance technology, blind spot detection systems and helmet use. Investigators identified two primary areas that, if addressed, would have the biggest effect on reducing the number of vehicle-bicycle collisions: improving roadway infrastructure for bicyclists and enhancing their conspicuity to other road users. “This country needs a multi-faceted approach to deal with a problem that is only getting worse: more Americans are dying in collisions involving bikes and motor vehicles,” said NTSB ...12-06-2019, 01:19 PM -
Federal Reserve Board Announces Termination of Enforcement Action with Bank of America | site |
(December 3, 2019) - - Today, the Board of Governors of the Federal Reserve Board published the following information:
The Federal Reserve Board on Tuesday announced the termination of the enforcement action listed below:
Bank of America, Charlotte, North Carolina
Cease and Desist Order, dated May 20, 2015
Terminated November 22, 2019
Additional enforcement actions can be searched for here....12-04-2019, 04:20 PM