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  • Federal Reserve announces College Fed Challenge winners

    Federal Reserve announces College Fed Challenge winners

    Federal Reserve announces College Fed Challenge winners | site |


    (Information contained in Board of Governors of the Federal Reserve System press release: November 20, 2020) Dartmouth College won the 17th annual national College Fed Challenge on Friday, a competition that encourages students to learn about the U.S. economy, monetary policymaking, and the role of the Federal Reserve System. The team, from Hanover, New Hampshire, represented the Boston Federal Reserve District and included Ayan Agarwal, Utsav Jalen, Kira Koehler, Tench Coxe, and Zach Olson. The team's advisers were Elisabeth Curtis and C. Frank Zarnowski. The College Fed Challenge was held virtually in 2020. Eighty five schools from across the nation submitted video presentations or participated in local virtual competitions starting on October 9, 2020. Eighteen semi-finalist teams participated in question-and-answer sessions held during the week of November 9, and six finalists were selected and their...
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  • Federal Reserve Board issues Final Rule modifying the Annual Assessment fees for its Supervision and Regulation of large Financial Companies

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



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

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


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

    Federal Reserve publishes latest Version of its Supervision and Regulation Report | site |


    (November 9, 2020) - - In an article dated November 6, 2020, the Board of Governors of the Federal Reserve System published the following information: The Federal Reserve Board on Friday published the latest version of its supervision and regulation report, which summarizes banking conditions and information about the Federal Reserve's bank regulatory and supervisory activities. The current edition includes detailed information on the strength of the banking system in light of the economic and financial stresses from the COVID-19 containment measures. Additionally, it describes current areas of supervisory focus from the Federal Reserve as well as how banks and bank supervisors have adapted to a largely remote working environment. Also on Friday, the Federal Reserve announced that it is updating the list of firms supervised by its Large Institution Supervision Coordinatin...
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  • Federal Reserve issues FOMC statement

    Federal Reserve issues FOMC statement

    Federal Reserve issues FOMC statement | site |



    (November 5, 2020) - - On November 5, 2020, 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 the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals. The COVID-19 pandemic is causing tremendous human and economic hardship across the United States and around the world. Economic activity and employment have continued to recover but remain well below their levels at the beginning of the year. Weaker demand and earlier declines in oil prices have been holding down consumer price inflation. Overall financial conditions remain accommodative, in part reflecting policy measures to support the economy and the flow of credit to U.S. households and businesses. The path of the economy will depend significantly on the course of the virus. The ongoing pu...
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  • Federal Reserve Board adjusts terms of Main Street Lending Program to better target support to smaller Businesses

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



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

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



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

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

    The FRPS Detailed Data Release includes new information about core noncash payments and some evolving areas of payments in the United States:
    • The estimated number and value of checks for 2018 are revised to 14.0 billion and $26.8 trillion, respectively. As a result, the estimated decline in the number of checks from 2015 to 2018 is revised to 8.2 percent per year, steeper than the
    ...
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  • Federal Reserve 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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  • Staff Reporter 1
    Federal Reserve announces College Fed Challenge winners
    by Staff Reporter 1
    Federal Reserve announces College Fed Challenge winners | site |


    (Information contained in Board of Governors of the Federal Reserve System press release: November 20, 2020) Dartmouth College won the 17th annual national College Fed Challenge on Friday, a competition that encourages students to learn about the U.S. economy, monetary policymaking, and the role of the Federal Reserve System. The team, from Hanover, New Hampshire, represented the Boston Federal Reserve District and included Ayan Agarwal, Utsav Jalen, Kira Koehler, Tench Coxe, and Zach Olson. The team's advisers were Elisabeth Curtis and C. Frank Zarnowski. The College Fed Challenge was held virtually in 2020. Eighty five schools from across the nation submitted video presentations or participated in local virtual competitions starting on October 9, 2020. Eighteen semi-finalist teams participated in question-and-answer sessions held during the week of November 9, and six finalists were selected and their...
    11-21-2020, 05:41 AM
  • Staff Reporter 1
    Federal Reserve Board issues Final Rule modifying the Annual Assessment fees for its Supervision and Regulation of large Financial Companies
    by Staff Reporter 1
    Federal Reserve Board issues Final Rule modifying the Annual Assessment fees for its Supervision and Regulation of large Financial Companies | site |



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


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


    (November 9, 2020) - - In an article dated November 6, 2020, the Board of Governors of the Federal Reserve System published the following information: The Federal Reserve Board on Friday published the latest version of its supervision and regulation report, which summarizes banking conditions and information about the Federal Reserve's bank regulatory and supervisory activities. The current edition includes detailed information on the strength of the banking system in light of the economic and financial stresses from the COVID-19 containment measures. Additionally, it describes current areas of supervisory focus from the Federal Reserve as well as how banks and bank supervisors have adapted to a largely remote working environment. Also on Friday, the Federal Reserve announced that it is updating the list of firms supervised by its Large Institution Supervision Coordinatin...
    11-09-2020, 10:24 PM
  • Staff Reporter 1
    Federal Reserve issues FOMC statement
    by Staff Reporter 1
    Federal Reserve issues FOMC statement | site |



    (November 5, 2020) - - On November 5, 2020, 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 the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals. The COVID-19 pandemic is causing tremendous human and economic hardship across the United States and around the world. Economic activity and employment have continued to recover but remain well below their levels at the beginning of the year. Weaker demand and earlier declines in oil prices have been holding down consumer price inflation. Overall financial conditions remain accommodative, in part reflecting policy measures to support the economy and the flow of credit to U.S. households and businesses. The path of the economy will depend significantly on the course of the virus. The ongoing pu...
    11-06-2020, 09:48 AM

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