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Federal Reserve officials said they contained fallout from the rate spike in the repurchase agreement market, but the episode poses longer-term repercussions for liquidity rules, the transition to a new interest rate benchmark and other issues.December 3
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Concerns over banks’ level of preparation have led to worries about disruptions in the lending market, and some financial institutions warn that a new interest rate benchmark could cause lenders to pull back on credit.October 27
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Goldman’s consumer unit, Marcus, has so far lost $1.3 billion; big lenders like JPMorgan Chase and Amex are making loans for small-ticket items like clothes and cosmetics.September 30
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Some countries are toying with digitizing their currencies; NY Fed chief defends SOFR despite recent concerns about repo market volatility.September 24
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Finance ministers call for tight regulation of cybercurrencies; Williams says the Fed must “act quickly to lower rates at the first sign of economic distress.”July 19
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Mary Daly succeeds John Williams, who left the bank earlier this year to run the Federal Reserve Bank of New York.September 14
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Morgan Stanley CEO, New York Fed chief caution against failing to remember what caused the financial crisis; Wells Fargo may combine its two big wealth management businesses.June 19
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John Williams, a monetary policy expert, has been a critic of Wall Street culture and has voiced concerns about financial startups not offering equal access to credit.April 5
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The San Francisco Fed chief, an economist, is seen as a complement to Fed chair Powell; the proposal would make it easier for banks to comply with the law.April 4
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The New York Fed has tapped San Francisco Federal Reserve Bank President John Williams as its next president, concluding a search process that has drawn criticism for being inadequately considerate of candidates with more diverse backgrounds.April 3
