By Fed Newswire | Dec 21, 2018
News Release: The federal bank regulatory agencies approved a final rule modifying their regulatory capital rules and providing an option to phase in over a period of three years the day-one regulatory capital effects of updated accounting standard known as the "Current Expected Credit Losses" (CECL) methodology. The final rule also revises the agencies' other rules to reflect the update to the accounting standards.
By Fed Newswire | Dec 20, 2018
News Release: Growth in card payments has accelerated, according to new electronic payments data collected by the Federal Reserve. Card payments increased 10.1 percent by number and 8.4 percent by value from 2016 to 2017, each larger than the increases of 7.8 percent by number and 6.3 percent by value from 2015 to ...
By Fed Newswire | Dec 20, 2018
News Release: The Federal Reserve Board has approved actions on Thursday by the Boards of Directors of the Federal Reserve Banks of New York, Philadelphia, St. Louis, Minneapolis, and Dallas, increasing the discount rate (the primary credit rate) at the Banks from 2-3/4 percent to 3 percent, effective immediately.
By Fed Newswire | Dec 20, 2018
News Release: The Federal Reserve Board and the Federal Deposit Insurance Corporation on Thursday announced that the resolution plans of four foreign-based banks had weaknesses, but did not have "deficiencies," which are weaknesses severe enough to result in additional prudential requirements if not corrected.
By Fed Newswire | Dec 20, 2018
News Release: The Federal Reserve Board on Thursday announced the enforcement action listed below: Diane Ludwig, former employee First Community Bank, Beemer, Nebraska Consent prohibition order, dated Dec. 19, 2018 Additional enforcement actions can be searched for here.
By Fed Newswire | Dec 20, 2018
News Release: The federal banking agencies on Thursday invited public comment on a proposal to update rules restricting the ability of a director or other management official to serve at more than one depository institution or depository holding company. The proposed changes would provide relief for community banks and better align with other rules.
By Fed Newswire | Dec 20, 2018
News Release: WASHINGTON--The federal bank regulatory agencies today announced the annual adjustment to the asset-size thresholds used to define small bank, small savings association, intermediate small bank, and intermediate small savings association under the Community Reinvestment Act (CRA) regulations.
By Fed Newswire | Dec 19, 2018
News Release: The Federal Reserve Board has approved action on Wednesday by the Board of Directors of the Federal Reserve Bank of Kansas City, increasing the discount rate (the primary credit rate) at the Bank from 2-3/4 percent to 3 percent, effective Dec. 20, 2018.
By Fed Newswire | Dec 19, 2018
News Release: 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 18-19 meeting.
By Fed Newswire | Dec 19, 2018
News Release: Information received since the Federal Open Market Committee met in November indicates that the labor market has continued to strengthen and that economic activity has been rising at a strong rate. Job gains have been strong, on average, in recent months, and the unemployment rate has remained low. Household ...
By Fed Newswire | Dec 13, 2018
News Release: The Federal Reserve Board on Thursday announced the action listed below: Frank Smith, President and Chief Executive Officer Farmers State Bank, Pine Bluffs, Wyoming Notice of intent to prohibit from the banking industry, dated Dec. 11, 2018 Mark Kiolbasa, Executive Vice President Farmers State Bank, Pine Bluffs, Wyoming Notice of intent to prohibit from the banking industry, dated Dec. 11, 2018 Additional enforcement actions can be searched for here.
By Fed Newswire | Dec 7, 2018
News Release: The Federal Reserve Board on Friday announced its approval of the proposals by: 1. Synovus Financial Corp., Columbus, Georgia, to merge with FCB Financial Holdings, Inc., and thereby indirectly acquire FCB Financial's subsidiary bank, Florida Community Bank, N.A., both of Weston, Florida, pursuant to ...
By Fed Newswire | Dec 7, 2018
News Release: The Federal Reserve Board on Friday announced its approval of the application under section 3 of the Bank Holding Company Act of 1956 by Cadence Bancorporation, Houston, Texas, to acquire State Bank Financial Corporation (SBFC), Atlanta, Georgia, and thereby indirectly acquire SBFC's subsidiary bank, State Bank and Trust Company, Macon, Georgia.
By Fed Newswire | Dec 4, 2018
News Release: The Federal Reserve Board on Tuesday released the minutes of its interest rate meeting on November 8, 2018.
By Fed Newswire | Dec 4, 2018
News Release: The three federal banking agencies announced they are seeking public comment on a proposal to raise the threshold for residential real estate transactions requiring an appraisal from $250,000 to $400,000. The appraisal threshold has remained unchanged since 1994, and the agencies believe an increase would provide burden relief without posing a threat to the safety and soundness of financial institutions.
By Fed Newswire | Dec 3, 2018
News Release: The Board of Governors of the Federal Reserve System's offices in Washington, D.C., will be closed on Wednesday, December 5, 2018, in observance of the national day of mourning for former President George H.W. Bush.
By Fed Newswire | Nov 30, 2018
News Release: The Federal Reserve Board on Friday announced plans to recognize the exemplary work of Federal Reserve System staff with the presentation of a newly created Janet L. Yellen Award for Excellence in Community Development.
By Fed Newswire | Nov 29, 2018
News Release: Yale University won the 15th annual national College Fed Challenge on Thursday, 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 New Haven, Connecticut, represented the Boston Federal Reserve District and included Ramiz Colak, Sienna Gough, Rohit Goyal, David Rubio, and Lydia Wickard. The team's faculty adviser was William English.
By Fed Newswire | Nov 29, 2018
News Release: The Federal Reserve Board on Thursday released results of a survey of senior financial officers at banks regarding their reserve balance management strategies and practices. The Senior Financial Officer Survey has been used on occasion by the Board to obtain information about deposit pricing and behavior, ...
By Fed Newswire | Nov 29, 2018
News Release: The Federal Reserve Board and the Federal Open Market Committee on Thursday released the attached minutes of the Committee meeting held on November 7-8, 2018.
