Kyle Campbell covers the Federal Reserve and housing policy for American Banker. Previously, he wrote about institutional investment in real estate for PERE. He has also held staff positions at Real Estate Weekly, the New York Daily News and the Southampton Press.
The two Trump-appointed governors expressed skepticism that the increased capital requirements for regional banks were necessary to keep the banking sector resilient.
Following the difficulties of Silicon Valley Bank and Signature Bank this spring, banks are approaching the emergency lending facility more proactively, the Federal Reserve chair said.
The Bank Policy Institute and American Bankers Association want the Federal Reserve to conduct a public review process when determining scenarios for the annual exams. They also want more information on the test's internal models and formulas.
The U.S. division of the Swiss bank will have to pick up the tab for its one-time rival, which it acquired in a government-brokered deal earlier this year.
The Federal Reserve Board of governors will discuss the much anticipated capital changes on Thursday afternoon.
The launch of FedNow, the Federal Reserve's instant-settlement system, raises many questions for banks, card networks and fintechs regarding costs, routing and other concerns.
Officials at the central bank have been discussing a real-time payment system for a decade. Work on FedNow began in 2019.
Two of the three midsize banks that failed this spring were unprepared to access the Federal Reserve's discount window, limiting regulators' ability to inject cash at a pivotal moment. Regulators say that experience should be a wake-up call.
The Federal Reserve vice chair for supervision said regulators will adapt supervisory practices to account for advancements in machine learning.
Consumer Financial Protection Bureau Director Rohit Chopra will engage in informal talks with Didier Reynders, the European Commission's commissioner for justice and consumer protection, on artificial intelligence, buy now/pay later and digital payments.