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.
Facing calls for more transparency around its account-granting processes, the central bank has proposed making a public database of institutions with access to its services.
Bank-to-bank transactions that currently take two days could be settled in 10 seconds using central bank digital currencies and blockchain technology, the reserve bank finds.
The central bank is budgeting initial losses for its long-anticipated instant payment system, which is scheduled to debut next summer.
The central bank terminated a cease-and-desist order issued against the Agricultural Bank of China and its New York branch in 2016 for breaking anti-money-laundering rules.
A growing number of economists and lawmakers think the Fed has gone too far in its battle against inflation. Powell is worried it hasn't gone far enough.
Ahead of this week's Federal Open Market Committee meeting, where it is expected to enact another large rate hike, 11 lawmakers sent a letter to the central bank, urging it not to go too far.
Custodia's lawsuit with the Federal Reserve over master account access is poised to advance to trial. Regardless of the outcome, the case will be consequential.
A federal judge in Wyoming said the scope of the lawsuit could change but that he expects it to proceed. It would be the first master account challenge to go to trial.
Delinquencies are on the rise for FHA-backed loans, with nearly 10% of low-credit borrowers in early payment default. Economists and policy experts say this could signal trouble ahead for other credit products.
An appeals court ruling last week found that the Consumer Financial Protection Bureau's funding structure violates the Constitution, but another court filing shows how the agency might fight back.
In a letter to Federal Reserve Chair Jerome Powell, the chair of the Senate Banking Committee warned that the Fed was in danger of going too far in its efforts to tame inflation.
The Fed's interest rate hikes are meant to tame inflation, but the secondary impacts on housing could give the central bank a reason to pump the brakes.
Attorneys general from 19 states issued subpoenas to six large banks seeking information about their climate policies. They say they're seeking to hold banks accountable for the fairness of their ESG policies to fossil-fuel companies, but others call it intimidation.
The bank regulators said they are open to all possibilities as they sought input on potential changes to resolution policies for large regional banks, but that hasn't stopped policy specialists from reading between the lines.
The regulators laid out several measures that would change how large but not global systemically important banks capitalize and structure themselves.
The Wyoming-chartered digital bank, which is suing the Federal Reserve for the right to a master account, says the central bank is applying a double standard on crypto custody.
The vice chair for supervision warned banks to be on the lookout for liquidity risks and illegal activity when dealing with the crypto sector.
The central bank has recently stepped up its efforts to reduce its balance sheet, but doing that without forcing a liquidity crunch requires careful planning.
In the master account lawsuit, the Fed says reserve banks aren't subject to administrative procedure law, and urges the court not to jeopardize the balance Congress has created with the Federal Reserve System.
The bank regulators have promised new guidelines for large regional bank resolution plans. Some say the move is overdue, but others say it doesn't go far enough.