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 nine-part guidance establishes best practices for financial institutions that want to pursue carbon-neutral strategies. In a speech, the Treasury secretary cautions firms against being "left behind."
The Biden administration tapped Adriana Kugler, executive director of the World Bank and a professor at Georgetown, to fill a seat on the Board of Governors that had been vacant since February.
A joint letter from the banking and financial trade groups is the latest effort by the industry and its representatives in Washington to push back against the Basel III capital proposals, which would raise capital significantly for the largest banks.
Federal Reserve Chair Jerome Powell said inflation relief from the housing sector is "in the pipeline" but some say strong underlying demand and an inadequate housing supply could disrupt future rate pauses or cuts.
The Federal Reserve Board's vice chair for supervision called for the creation of a legislative and regulatory framework for overseeing dollar-pegged digital assets.
The Federal Reserve governor said the "risks and tradeoffs" associated with private and sovereign digital currencies need to be weighed carefully.
The World Bank director and former top Labor Department economist will become the first Fed governor of Hispanic descent and will give the board a full compliment of members since former vice chair Lael Brainard resigned in February.
Philip Jefferson was the Biden administration's pick for the Fed's number two position following the departure of Lael Brainard earlier this year. Two more Fed nominees are expected to get confirmation votes this week.
The $100 million-asset bank ran afoul of various regulatory standards, including credit oversight, anti-money-laundering controls and third-party risk management.
After remaining above $2 trillion for a year, the Federal Reserve's overnight reverse repurchase facility has seen steadily less use in recent months. The development is welcomed by banks, but could be a sign that certain financial players are shifting funds to riskier activities.