By Fed Newswire | Nov 30, 2020
News Release: WASHINGTON—The Federal Reserve Board, Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency today issued a statement encouraging banks to cease entering into new contracts that use USD LIBOR as a reference rate as soon as practicable and in any event by Dec. 31, 2021, in order to facilitate an orderly—and safe and sound— LIBOR transition.
By Fed Newswire | Nov 25, 2020
News Release: The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on November 4-5, 2020.
By Fed Newswire | Nov 24, 2020
News Release: The Federal Reserve Board on Tuesday announced the termination of the enforcement action listed below: Florida First City Banks, Inc., Fort Walton Beach, Florida Written Agreement dated Feb. 26, 2010 (PDF) Terminated November 5, 2020 Additional enforcement actions can be searched for here.
By Fed Newswire | Nov 20, 2020
News Release: 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.
By Fed Newswire | Nov 20, 2020
News Release: The federal bank regulatory agencies on Friday announced an interim final rule that provides temporary relief for certain community banking organizations related to certain regulations and reporting requirements as a result, in large part, of their growth in size from the coronavirus response.
By Fed Newswire | Nov 19, 2020
News Release: 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.
By Fed Newswire | Nov 19, 2020
News Release: The Federal Reserve Board on Thursday announced the execution of the enforcement action listed below: Craco, Inc., Vinita, Oklahoma Written Agreement dated Nov. 13, 2020 Enforcement actions can be searched for here.
By Fed Newswire | Nov 19, 2020
News Release: Federal financial institution regulatory agencies today issued a joint fact sheet clarifying that bank and credit union compliance efforts to meet Bank Secrecy Act due diligence requirements for customers that are charities and other nonprofit organizations should be based on the money laundering risks posed by the customer relationship.
By Fed Newswire | Nov 18, 2020
News Release: WASHINGTON, D.C. — The Federal Reserve Board and Consumer Financial Protection Bureau today announced the dollar thresholds in Regulation Z (Truth in Lending) and Regulation M (Consumer Leasing) that will apply for determining exempt consumer credit and lease transactions in 2021.
By Fed Newswire | Nov 18, 2020
News Release: WASHINGTON, D.C. — The Consumer Financial Protection Bureau, Federal Reserve Board, and Office of the Comptroller of the Currency today announced that the threshold for exempting loans from special appraisal requirements for higher-priced mortgage loans during 2021 will remain at $27,200, as it was in 2020.
By Fed Newswire | Nov 10, 2020
News Release: 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).
By Fed Newswire | Nov 10, 2020
News Release: The Federal Reserve Board on Tuesday announced the execution of the enforcement action listed below: Farmers Bank & Trust Company, Blytheville, Arkansas Flood insurance violations civil money penalty, dated November 6, 2020 Additional enforcement actions can be searched for here.
By Fed Newswire | Nov 6, 2020
News Release: 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.
By Fed Newswire | Nov 5, 2020
News Release: 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.
By Fed Newswire | Oct 30, 2020
News Release: Federal bank regulatory agencies today released a paper outlining sound practices designed to help large banks increase operational resilience. Examples of risks to operational resilience include cyberattacks, natural disasters, and pandemics.
By Fed Newswire | Oct 29, 2020
News Release: 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.
By Fed Newswire | Oct 29, 2020
News Release: Five federal financial regulatory agencies today invited comment on a proposal outlining and confirming the agencies' use of supervisory guidance for regulated institutions. The proposal would codify the statement, as amended, that was issued in September 2018 by the agencies that clarified the differences between regulations and guidance.
By Fed Newswire | Oct 23, 2020
News Release: The Financial Crimes Enforcement Network (FinCEN) and the Federal Reserve Board today invited comment on a proposed rule that would amend the recordkeeping and travel rule regulations under the Bank Secrecy Act. FinCEN and the Board, pursuant to their shared authority, are proposing amendments to the recordkeeping rule jointly, while FinCEN, pursuant to its sole authority, is proposing amendments to the travel rule.
By Fed Newswire | Oct 22, 2020
News Release: The Federal Reserve Board on Thursday announced its approval of the application under section 3 of the Bank Holding Company Act of 1956 by Bangor Bancorp, MHC, Bangor, Maine, to acquire Damariscotta Bankshares, Inc., and thereby indirectly acquire its subsidiary state nonmember bank, Damariscotta Bank & Trust Co., both of Damariscotta, Maine.
By Fed Newswire | Oct 21, 2020
News Release: The Federal Reserve Board on Wednesday announced the approval of the application by Allfunds Bank S.A.U., Madrid, Spain, to establish a representative office in Miami, Florida pursuant to section 10(a) of the International Banking Act of 1978.
