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  • Federal Reserve requests Public Comment on Technical, Clarifying Updates

    Federal Reserve requests Public Comment on Technical, Clarifying Updates

    Federal Reserve requests Public Comment on Technical, Clarifying Updates regarding the Federal Open Market Committee’s Rules Regarding Availability of Information, which describe its Freedom of Information Act (FOIA) Procedures | site |



    (October 14, 2020) - - Today, the Board of Governors of the Federal Reserve System published the following information: The Federal Reserve on Wednesday requested public comment on technical, clarifying updates regarding the Federal Open Market Committee's Rules Regarding Availability of Information, which describe its Freedom of Information Act (FOIA) procedures. The proposal would implement non-substantive updates to the Committee's FOIA procedures to make them consistent with the Committee's current practices and to incorporate recent changes in law and guidance. The proposal also incorporates formatting and language from the Federal Reserve Board's revisions to its own FOIA procedures, which are effective October 15, 2020. Comm...
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  • Federal Reserve Board announces approval of application by Banco Bradesco S.A., Lecce Holdings S.A., Fundação Bradesco, BBD Participações S.A., Nova Cidade de Deus Participações S.A., and Cidade de Deus Cia. Comercial de Participações

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




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

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

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

    Attachment (PDF)
    ...
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  • Federal Reserve begins 2020 Census of Finance Companies and Other Lenders

    Federal Reserve begins 2020 Census of Finance Companies and Other Lenders

    Federal Reserve begins 2020 Census of Finance Companies and Other Lenders| site |


    (October 6, 2020) - - Today the Board of Governors of the Federal Reserve System published the following information: The Federal Reserve Board announced on Tuesday that it will begin the 2020 Census of Finance Companies and Other Lenders. The census is a key part of the Federal Reserve's effort to paint a complete picture of this important sector of the U.S. economy. "Your participation is important to help us understand the size and structure of lenders like yours that supply credit or lease financing to U.S. households and businesses," said Federal Reserve Chair Jerome H. Powell in a letter to prospective census participants. "The results will contribute to better-informed policy decisions and form the basis of our statistical releases, which have become all the more critical during the pandemic outbreak." The assets and liabilities of finance companies have been surveyed by the...
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  • Federal Reserve Board extends Temporary Actions aimed at Increasing the Availability of Intraday Credit extended by Federal Reserve Banks

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



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

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



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

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



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

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



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

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

    Recognizing the unprecedented financial disruptions caused by the COVID-19 pandemic, the Federal Reserve conducted a pair of supplemental surveys to monitor changes in the financial well-being of Americans. The first of these surveys was conducted in April, at the onset of the pandemic and before most financial relief efforts were in place. The April results were described in the Report on the Economic Well-Being of U.S. Households
    ...
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  • Board of Governors of the Federal Reserve System publishes Minutes of the Board's Discount Rate Meeting on April 29, 2020

    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)
    ...
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  • Federal Reserve Board extends the Application Period for Membership on the Community Advisory Council

    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)
    ...
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  • Federal Reserve Board announces Implementation Delay for Changes to its Payment System Risk Policy regarding Intraday Credit

    Federal Reserve Board announces Implementation Delay for Changes to its Payment System Risk Policy regarding Intraday Credit | site |




    (March 24, 2020) - - Today, the Board of Governors of the Federal Reserve System published the following information: The Federal Reserve Board on Tuesday announced a six-month delay in the planned implementation of policy changes to procedures governing the provision of intraday credit to U.S. branches and agencies of foreign banking organizations (FBOs). On April 1, 2019, the Board approved amendments to Part II of the PSR policy, which establishes the maximum levels of daylight overdrafts that depository institutions may incur in their Federal Reserve accounts. The changes were initially scheduled to become effective on April 1, 2020. In light of the challenges posed by the coronavirus, the Board is delaying implementation until October 1, 2020. This additional time will allow FBOs and the Federal Reserve Banks to focus ...
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  • Treasury and Federal Reserve Board Expand Measures to Enhance Liquidity and Flow of Credit to American Workers, Households, and Businesses

    Treasury and Federal Reserve Board Expand Measures to Enhance Liquidity and Flow of Credit to American Workers, Households, and Businesses | site |




    (March 23, 2020) - - Today (March 23, 2020), the U.S. Department of the Treasury published the following information:

    WASHINGTON – The spread of coronavirus has disrupted economic activity and put significant liquidity pressure on U.S. businesses. To immediately enhance liquidity and support American workers, households, and businesses through this challenging period, U.S. Treasury Secretary Steven T. Mnuchin today authorized the expansion of two recently launched facilities and the establishment of three new facilities to provide liquidity to the financial system pursuant to section 13(3) of the Federal Reserve Act.


    Expansion of the Money Market Mutual Fund Liquidity Facility (MMLF) and Commercial Paper Funding Facility (CPFF)

    Secretary Mnuchin today approved the expansion...
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  • Federal Reserve System Publishes Annual Financial Statements

    Federal Reserve System Publishes Annual Financial Statements

    Federal Reserve System Publishes Annual Financial Statements | site |




    (March 23, 2020) - - Today, the Board of Governors of the Federal Reserve System published the following information: The Federal Reserve System on Monday released the 2019 combined annual audited financial statements for the Federal Reserve Banks, as well as statements for the 12 individual Federal Reserve Banks and the Board of Governors. An independent public accounting firm engaged by the Board has issued unqualified opinions on the financial statements and on the Board's and each Bank's internal controls over financial reporting. The audited financial statements provide information about the assets, liabilities, and earnings of the Reserve Banks and the Board as of December 31, 2019. The Federal Reserve Banks' 2019 earnings were approximately $55.5 billion, representing a decrease of $7.6 billion from 2018. The Reserve Banks provided for remittances to the U.S. Treasury of $5...
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  • Federal Reserve Board Announces Technical Change to Support the U.S. Economy

    Federal Reserve Board Announces Technical Change to Support the U.S. Economy

    Federal Reserve Board Announces Technical Change to Support the U.S. Economy and Allow Banks to Continue Lending to Creditworthy Households and Businesses | site |





    (March 23, 2020) - - Today, the Board of Governors of the Federal Reserve System published the following information:

    The Federal Reserve Board on Monday announced a technical change to support the U.S. economy and allow banks to continue lending to creditworthy households and businesses. The interim final rule will phase in gradually, as intended, the automatic restrictions associated with a firm's "total loss absorbing capacity," or TLAC, buffer requirements, if the levels decline. TLAC is an additional cushion of capital and long-term debt that could be used to recapitalize a bank if it is in distress. The change will facilitate the use of firms' buffers to promote lending activity to households and businesses. Over the past decade, U.S. banks of all sizes have built...
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  • Federal Reserve Announces Extensive New Measures to Support the Economy

    Federal Reserve Announces Extensive New Measures to Support the Economy

    Federal Reserve Announces Extensive New Measures to Support the Economy | site |




    (March 23, 2020) - - Today, the Board of Governors of the Federal Reserve System published the following information: The Federal Reserve is committed to using its full range of tools to support households, businesses, and the U.S. economy overall in this challenging time. The coronavirus pandemic is causing tremendous hardship across the United States and around the world. Our nation's first priority is to care for those afflicted and to limit the further spread of the virus. While great uncertainty remains, it has become clear that our economy will face severe disruptions. Aggressive efforts must be taken across the public and private sectors to limit the losses to jobs and incomes and to promote a swift recovery once the disruptions abate. The Federal Reserve's role is guided by its mandate from Congress to promote maximum employment and stable prices, along with its ...
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  • Federal Reserve issues Federal Open Market Committee Statement

    Federal Reserve issues Federal Open Market Committee Statement

    Federal Reserve issues Federal Open Market Committee Statement | site |





    (March 23, 2020) - - Today, the Board of Governors of the Federal Reserve System published the following information: The Federal Reserve is committed to use its full range of tools to support the U.S. economy in this challenging time and thereby promote its maximum employment and price stability goals. The Federal Open Market Committee is taking further actions to support the flow of credit to households and businesses by addressing strains in the markets for Treasury securities and agency mortgage-backed securities. The Federal Reserve will continue to purchase Treasury securities and agency mortgage-backed securities in the amounts needed to support smooth market functioning and effective transmission of monetary policy to broader financial conditions. The Committee will include purchases of agency commercial mortgage-backed securities in its agency mortgage-backed securit...
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  • Staff Reporter 1
    Federal Reserve requests Public Comment on Technical, Clarifying Updates
    by Staff Reporter 1
    Federal Reserve requests Public Comment on Technical, Clarifying Updates regarding the Federal Open Market Committee’s Rules Regarding Availability of Information, which describe its Freedom of Information Act (FOIA) Procedures | site |



    (October 14, 2020) - - Today, the Board of Governors of the Federal Reserve System published the following information: The Federal Reserve on Wednesday requested public comment on technical, clarifying updates regarding the Federal Open Market Committee's Rules Regarding Availability of Information, which describe its Freedom of Information Act (FOIA) procedures. The proposal would implement non-substantive updates to the Committee's FOIA procedures to make them consistent with the Committee's current practices and to incorporate recent changes in law and guidance. The proposal also incorporates formatting and language from the Federal Reserve Board's revisions to its own FOIA procedures, which are effective October 15, 2020. Comm...
    10-14-2020, 10:32 PM
  • Staff Reporter 1
    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
    by Staff Reporter 1
    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, 08:33 PM
  • Staff Reporter 1
    Federal Reserve begins 2020 Census of Finance Companies and Other Lenders
    by Staff Reporter 1
    Federal Reserve begins 2020 Census of Finance Companies and Other Lenders| site |


    (October 6, 2020) - - Today the Board of Governors of the Federal Reserve System published the following information: The Federal Reserve Board announced on Tuesday that it will begin the 2020 Census of Finance Companies and Other Lenders. The census is a key part of the Federal Reserve's effort to paint a complete picture of this important sector of the U.S. economy. "Your participation is important to help us understand the size and structure of lenders like yours that supply credit or lease financing to U.S. households and businesses," said Federal Reserve Chair Jerome H. Powell in a letter to prospective census participants. "The results will contribute to better-informed policy decisions and form the basis of our statistical releases, which have become all the more critical during the pandemic outbreak." The assets and liabilities of finance companies have been surveyed by the...
    10-06-2020, 09:03 PM
  • Staff Reporter 1
    Federal Reserve Board extends Temporary Actions aimed at Increasing the Availability of Intraday Credit extended by Federal Reserve Banks
    by Staff Reporter 1
    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,
    ...
    10-04-2020, 04:44 AM
  • Staff Reporter 1
    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
    by Staff Reporter 1
    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
    ...
    10-04-2020, 04:32 AM

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