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  • Federal Reserve Board and Federal Open Market Committee release Economic Projections from the June 15-16 FOMC Meeting

    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
    ...
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  • Federal Reserve Board Chair Powell will host Town Hall with Educators August 2, 2021 at 4 p.m. EDT

    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.
    ...
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  • Federal Reserve Board announces that Results from its Bank Stress Tests will be released on Thursday, June 24, at 4:30 p.m. EDT

    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...
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  • Federal Reserve Board announces Plans to begin Winding Down the Portfolio of the Secondary Market Corporate Credit Facility

    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...
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  • Federal Reserve Board issues Final Rule amending Regulation D with regard to Interest on Reserve Balances

    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
    ...
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  • Federal Reserve Board releases results of Survey of Senior Financial Officers at Banks about their Strategies and Practices for managing Reserve Balances

    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...
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  • Secretary of the U.S. Treasury Janet L. Yellen’s Meeting with the American Bankers Association Board of Directors

    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- ...
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  • U.S. Small Business Administration Administrator Isabella Casillas Guzman meets with Board of the National Association of Hispanic Publications

    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
    ...
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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 |


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

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


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



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

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

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


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

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



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

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



    (Information contained in Board of Governors of the Federal Reserve System press release dated: March 5, 2021) The Federal Reserve on Friday clarified guidance as it relates to definitions for minority depository institutions (MDIs), expanded the MDI definition to include women-owned financial institutions, and highlighted resources available to MDIs through its Partnership for Progress (PFP) program. The Federal Reserve System supports an inclusive financial system and understands the challenges inherent in providing access to credit and other financial services in traditionally underserved areas. The System remains strongly committed to identifying and carrying through all opportunities to support MDIs, consistent with its statutory mandates. The PFP program is the Federal Reserve's national MDI outreach program and implements ...
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  • Minutes of the Board's Discount Rate Meetings on January 19 and January 27, 2021

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



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

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

    The minutes are attached.

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

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


    (Information contained in Board of Governors of the Federal Reserve System press release dated: February 18, 2021) The Federal Reserve Board on Thursday announced a final rule that is intended to reduce risk and increase efficiency in the financial system by applying netting protections to a broader range of financial institutions. The final rule amends Regulation EE (Financial Institution Netting) to apply netting provisions of the Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA) to certain new entities including swap dealers. The rule would also make minor clarifications to the existing activities-based test in Regulation EE to clarify how the activities-based test applies following a consolidation of legal entities. Sections 401...
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  • Staff Reporter 1
    Federal Reserve Board and Federal Open Market Committee release Economic Projections from the June 15-16 FOMC Meeting
    by Staff Reporter 1
    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, 09:11 AM
  • Staff Reporter 1
    Federal Reserve Board Chair Powell will host Town Hall with Educators August 2, 2021 at 4 p.m. EDT
    by Staff Reporter 1
    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.
    ...
    06-18-2021, 12:32 AM
  • Staff Reporter 1
    Federal Reserve Board announces that Results from its Bank Stress Tests will be released on Thursday, June 24, at 4:30 p.m. EDT
    by Staff Reporter 1
    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, 11:45 AM
  • Staff Reporter 1
    Federal Reserve Board announces Plans to begin Winding Down the Portfolio of the Secondary Market Corporate Credit Facility
    by Staff Reporter 1
    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, 06:03 AM
  • Staff Reporter 1
    Federal Reserve Board issues Final Rule amending Regulation D with regard to Interest on Reserve Balances
    by Staff Reporter 1
    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, 05:54 AM

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