Fed to Review Its Supervision of Silicon Valley Bank
The Federal Reserve has launched a review of its own supervision of Silicon Valley Bank following the bank’s failure.
Boston Fed Names New Board Members
Several big names in the region’s banking industry just scored roles with the Federal Reserve Bank of Boston and its board.
Fed’s Real-Time Payment System Coming as Early as May ’23
The Federal Reserve’s new real-time payments system known as FedNow is expected to go live as early as May 2023, a Fed official said Monday.
M&T Passes Fed Stress Test
The nation’s largest banks have strong capital levels and would be able to continue lending to households and businesses during a severe recession, according to the Federal Reserve’s annual stress test.
Fed Approves M&T Bank, People’s United Deal
More than a year after announcing plans to acquire Bridgeport-based People’s United Bank, Buffalo-based M&T bank has received the final regulatory approval needed to complete the merger.
Fed: We Won’t Act on Digital Currency Without Congress
The Federal Reserve on Thursday released a highly anticipated report on central bank digital currencies that suggested it is leaning toward having banks and other financial firms, rather than the Fed itself, manage digital accounts for customers.
Webster Plans to Complete Merger in February
Waterbury-based Webster Bank plans to complete its merger with Sterling National Bank in February after receiving regulatory approval for the deal.
Boston Fed Begins Search for Next President
The search for the Federal Reserve Bank of Boston’s next president and CEO has begun, with board chair and Brown University president, Christina Paxson, leading the search committee. “The job represents an incredible opportunity to lead a talented group of people who...
Fed Sees Risks to Financial Stability from Climate Change
The Federal Reserve has added a discussion about climate change to its Financial Stability Report for the first time, noting vulnerabilities the financial system could face in the years ahead.
Fed Lowers Main Street Loan Amount
In a move aimed at reaching more small businesses, the Federal Reserve Board has reduced the minimum loan amount for the Main Street Lending Program.
Main Street Lending Fully Operational for Nonprofits
Educational institutions, hospitals, social service organizations and other nonprofits affected by the pandemic can now receive loans through the Main Street Lending Program.
Main Street Lending Program Fully Operational
The Federal Reserve has finalized the last piece of the Main Street Lending Program, making it now fully operational.
FDIC Proposal Would Mitigate PPP’s Effects on Banks
Banks participating in the Paycheck Protection Program could avoid increases in deposit insurance rates that would otherwise see effects from borrowing for the program.
New Rule to Encourage Use of PPP Lending Facility
To encourage banks to participate in the Paycheck Protection Program, the three federal bank regulators have modified their capital rules to encourage banks to use a Federal Reserve lending facility. The Federal Reserve also took steps to provide more loans to support the economy.
Federal Regulators Encourage Small-dollar Lending
The federal financial regulatory agencies are encouraging banks, savings associations and credit unions to offer responsible small-dollar loans to consumers and small businesses in response to COVID-19.
