The Fed’s decision to cut its benchmark interest rate amid growing coronavirus concerns is bound to have an impact on banks, but just how broad and how deep remains to be seen.

In announcing the central bank’s emergency rate cut, Chairman Jerome Powell warned that the Fed can only do so much.

The Federal Reserve has voted unanimously to cut the interest rate 50 basis points to 1.10% effective March 4, in the first emergency rate cut since 2008.

Policymakers could recommend banks establish backup facilities and the Federal Reserve could stand ready with emergency loans to limit economic shock waves.

The Fed can take steps now to speed up existing networks.

Officials from 10 midsize American banks said U.S. regulators' preferred index for replacing the maligned Libor benchmark is ill-suited for them.

Comptroller of the Currency Joseph Otting suggested the central bank was adopting a “partisan” stance against his plan to overhaul the Community Reinvestment Act.

Sens. Pat Toomey of Pennsylvania and Richard Shelby of Alabama had been among a handful of Republicans who had expressed uneasiness with Judy Shelton's views on monetary policy.

Wall Street banks make plans to keep workers in Tokyo safe; the employees are bringing their grievances against the bank to Capitol Hill.

Jennifer Piepszak, JPMorgan's chief financial officer, said the largest U.S. bank planned to borrow funds through the Federal Reserve's emergency lending facility in an exercise designed to break the stigma attached to that program.

Three key Republicans on the Senate Banking Committee said Monday that they remain undecided on President Donald Trump's nomination of Judy Shelton to the Federal Reserve Board.

It is long past time for the Federal Reserve to use its authority to bring transparency and competition to the debit market, says the Retail Industry Leaders Association's Austen Jensen.

Compared with incendiary fights elsewhere in the capital, deliberations among the banking agencies tend to be more banal. But on issues from the Volcker Rule to CRA reform, disagreements lately between officials have grown sharper.

For the second time in four years regulators are investigating Jes Staley; fintechs have until July 30 to sign agreements on how they access customer data.

The three cease and desist orders and one written agreement had cited separate concerns at JPMorgan Chase, Discover, Deutsche Bank and RBS.

Both Democrats and Republicans aired concerns about controversial statements made by Judy Shelton on monetary policy, deposit insurance and other issues, raising doubts about her confirmation.

Ken Montgomery, who is heading up the Federal Reserve's faster payments network, says the agency is taking an incremental approach to launching the service.

To address immediate market demand but allow time for the project to be done right, the official leading implementation of FedNow says the central bank envisions an initial release in 2023 or 2024 followed by subsequent updates.

Federal Reserve Chairman Jerome Powell told senators that the central bank is willing to explore a credit-sensitive interest benchmark in addition to the secured overnight financing rate, which some banks say could cause problems during economic stress.

Federal Reserve Chair Jerome Powell reaffirmed his agency’s skepticism of a Community Reinvestment Act plan proposed by other regulators, and said the Fed has an important role to ensure banks “are resilient against the longer-term risks from climate change.”