Kyle Campbell covers the Federal Reserve and housing policy for American Banker. Previously, he wrote about institutional investment in real estate for PERE. He has also held staff positions at Real Estate Weekly, the New York Daily News and the Southampton Press.
The chairman of the Federal Reserve told the House Financial Services Committee that no decisions have been made about regulatory changes, but whatever does come to pass will take time to implement.
Federal Reserve Vice Chair for Supervision Michael Barr said he is overseeing a six-month project to overall supervisory culture, practices, behavior and tools. He said regulatory changes will also be explored.
The Federal Reserve will now disclose all entities that have access to its payments system, as well as those that are seeking access. The move ends a yearlong standoff with Congress.
In a speech, the Federal Reserve Board governor said tighter monetary policy is not to blame for the volatility seen in the banking system this spring.
All 12 regional Federal Reserve banks released financial information from their presidents on Thursday, including new errors that Federal Reserve Bank of Atlanta President Rafael Bostic acknowledged. Such disclosures have taken on increased significance after a slew of scandals in recent years.
The Federal Reserve chair said that as the Treasury replenishes its general account at the Fed, it will lead to fewer reserves in the banking system.
Bank regulators rolled out two joint proposals this month as part of a broader push to address discrimination in home valuations. Advocates see promise, but appraisers fear the changes could artificially inflate valuations.
Economic analysis from the real estate advisory CBRE finds that community banks are particularly imperiled by their exposure to commercial real estate loans. Others see looming risks in indirect lending.
Federal bank regulators issued proposed guidelines for banks and other mortgage lenders to craft policies around reconsideration of value requests. The move is the latest aimed at rooting out bias in home appraisals.
The Providence, R.I.-based bank has been scaling down its indirect auto lending program since last year.