- WASHINGTON (01/05/00) - Armored trucks stuffedwith cash were lining up at Federal Reserve banks around thecountry over the past few days as the Fed withdrew billions ofdollars in excess currency distributed in the event of a run oncash by depositors panicked over Y2K. The Fed had disbursed morethan $80 billion in the fourth quarter, almost four times theamount distributed in the fourth quarter of 1998, to make surebanks, credit unions and other depository institutions hadplentiful cash for withdrawals. But Fed officials said there waslittle evidence of major withdrawals over the Y2K weekend asdepositors around the country appeared to be satisfied withrepeated messages that their banks and credit unions were ready forthe Y2K rollover. The Fed reported that fewer than a dozen bankswent to its discount window to ask for special liquidity loans overthe weekend. NCUA reported about 60 credit unions requested shortterm liquidity loans from its Central Liquidity Facility(CLF).
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The AI and cybersecurity-focused startups completed the vetted proof-of-concept program to prepare for their next level of growth.
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Bill Martin, a real estate developer and athletics executive who founded the community bank in 1996, said he considers the privately held institution to be "like one of my kids."
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The megabank announced it would invest $16 million to grow its footprint in the North Carolina banking mecca.
July 9 -
The labor market was a bigger point of discussion in the Federal Reserve's most recent monetary policy-setting meeting, but officials were divided about the path of future actions.
July 9 -
The digital bank is also partnering with two pro pickleball leagues to court fans through a consistent presence at tournaments later this year.
July 9 -
Regulators from California, Massachusetts, Minnesota, Nebraska, New York and Texas levied the fine for anti-money-laundering and Bank Secrecy Act violations, which comes as Wise seeks a banking license in the U.S.
July 9