Officials at the central bank have been discussing a real-time payment system for a decade. Work on FedNow began in 2019.

The longtime chief executive of the Federal Reserve Bank of St. Louis will leave his post after 15 years to take an administrative position at Purdue University.

Five organizations representing large banks sent a letter to Federal Reserve Chair Jerome Powell requesting a long and thorough public review process for rule changes that are expected to be rolled out this summer.

The biggest of the big banks don't like the Federal Reserve's new vision for bank capital, but the changes will hurt their regional peers more. Once again, the advantage lies with the megabanks.

Federal Reserve Bank of San Francisco president Mary Daly insisted that supervisory failures that contributed to the downfall of Silicon Valley Bank were reflective of directives handed down from the Federal Reserve Board of Governors, and made the case for 'agility' in bank supervision.

Bank of America has joined rivals in raising its quarterly dividend even though it's in discussions with the Fed to understand differences between the central bank's stress-test assessment of the bank and its own stress tests.

The two companies are questioning the Federal Reserve's projections for their future income, the latest sign of tension around the central bank's annual stress tests.

The Federal Reserve, Federal Deposit Insurance Corp., Office of the Comptroller of the Currency and National Credit Union Administration have finalized guidance on handling troubled debt.

After holding at its last meeting, the Federal Open Market Committee may decide to raise rates again in July.

In an online commentary published Wednesday, the Atlanta Fed president said he agreed with the view that "the bar to justify further rate hikes is higher than it was a few months ago."