A Federal Reserve-developed alternative to a now-defunct (and soon to be eliminated) interest rate standard has become the dominant benchmark in the market, according to the group that developed the alternative. The Alternative Reference Rates […]
Tokenization and artificial intelligence (AI) are two areas of financial innovation that may have the potential to deliver substantial benefits, a member of the Federal Reserve Board said Thursday. Speaking to a conference focusing on […]
Protecting the U.S. financial system from cyber attacks, especially in the face of war in Ukraine, was the subject of a meeting Thursday of federal financial institution regulators and organizations representing state regulators, the Treasury […]
“Open banking” – the practice of enabling consumer-permissioned sharing of financial data with third parties to empower consumers – is supported by the regulator of national banks, but not at the expense of dissolving banking’s […]
Tighter lending standards amid increased uncertainty and concerns about liquidity were reported by business contacts in several areas around the country, according to the results of the latest survey of business conditions by the Federal […]
Special assessments to recover the estimated $19.2 billion of losses due to uninsured depositors to the federal bank deposit insurance fund resulting from the failures of two banks in March will be proposed through rulemaking […]
The dearth of de novo banks in recent years was blamed, at least in part, for the rise of such developments as “charter-strip” banks, shift to a “shadow banking” system, and “banking as a service,” […]
A revised approach for determining the average prime offer rates (APOR) for purposes of federal mortgage rules was released Friday by the federal consumer financial protection agency. According to the Consumer Financial Protection Bureau (CFPB), […]
Banks in areas of California and Tennessee affected by storm damage, flooding, tornadoes, mudslides and wind (among other things) are eligible for regulatory relief from the federal bank deposit insurance agency, it announced Thursday. According […]
Legislation enacted in 2018 easing some requirements on bank investment activity had “nothing to do” with the recent failure of a California bank, the vice chairman of the board of the federal bank deposit insurance […]
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