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 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.
For banks already dealing with higher funding costs, renewed competition from government-backed securities could bring more pain.
Six regulatory agencies are seeking public comment on a proposed rule that would establish best practices for using automated valuation models to assess collateral.
The Federal Reserve Board and California Department of Financial Protection and Innovation want to ensure the shuttered bank makes good on its commitment to self-liquidate and make depositors whole. It also wants full cooperation on an investigation into FTX ties.
Federal Reserve Board Gov. Philip Jefferson, who has been tapped to serve as vice chair of the central bank, said the new rules will standardize capital requirements and increase transparency.
Once it is free to issue new debt, the Treasury Department is expected to quickly replenish its general account at the Fed. The move could lead to a shortage of reserves.
The global accord's provision on supervision establishes broad authorities over risks not expressly covered in capital rules. The Federal Reserve's top regulator has already hinted that those authorities might be relied on more in the wake of this spring's bank failures.
The Federal Reserve Board governor said secular increases to the currency supply limits how much the central bank can shrink its holdings.
Wyoming had sought to intervene in the contentious lawsuit over master account access, citing concerns about its special purpose depository charter. The judge said it had no standing.
The Federal Reserve chair waved off suggestions that recent bank failures demonstrate a need to better separate its authorities. He also noted the importance of clear communication by central bank officials.
In a speech delivered to the Texas Bankers Association, the Federal Reserve governor called on bankers to create and test liquidity plans capable of weathering turmoil.
During a Senate Banking hearing with regulators, Sens. Jon Tester, D-Mont., and Mark Warner, D-Va., raised concerns about sweeping policy changes, while bipartisan consensus emerged around curbing executive compensation.
The senator accused the watchdog of failing to hold Federal Reserve Chair Jerome Powell and others sufficiently responsible for violating rules on investment activities.