Federal Reserve

The central bank's rule-writing workload is expected to remain busy for the foreseeable future, thanks in large part to enactment of the recent regulatory relief bill.

The new guidelines are a prelude to a much larger effort by regulators to modernize implementation of the Community Reinvestment Act.

Largest banks would be limited on how much risk they could have with each other; the credit bureau has hired the former head of the computer giant's Watson unit.

The rule hews closely to a 2016 proposal but the central bank made a notable change to reflect a higher threshold for banks considered "systemically important."

Federal Reserve Chairman Jerome Powell said the agency has its hand full between proposals on liquidity and capital requirements and additional mandates made by the recently enacted regulatory relief law.

Almost half of systemically important financial institutions are trading in bear territory; bank is accused of overcharging customers for mortgage-backed securities.

The Senate Banking Committee approved the nominations of Richard Clarida as vice chairman of the Fed and Michelle "Miki" Bowman as a Fed governor.

The agency will release the results of the Dodd-Frank Act Stress Test on June 21 and the Comprehensive Capital Analysis and Review on June 28.

U.S. banks reduced their holdings of state and local government bonds for the first time since 2009 after the federal government slashed corporate tax rates, according to figures released by the Federal Reserve Thursday.