Federal Reserve Board

235 results about this entity

Period: 17 Feb 2006 - 10 May 2024

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Fed to hike paper cheque processing fees 41% in 2009

Fed to hike paper cheque processing fees 41% in 2009

The US Federal Reserve Board says it will increase the processing fees for paper cheques by 41% next year as it looks to encourage migration to electronic collection.

Fedwire and Chips to support new Swift cover payment messages

Fedwire and Chips to support new Swift cover payment messages

In anticipation of the November 2009 deadline for supporting Swift's new enhanced message format for cover payments, the Federal Reserve Banks (FRBs) and The Clearing House have completed and distributed specifications for banks transmitting cover payments through the Fedwire Funds Service and Chips, the US wire transfer systems.

Wall Street group issues recommendations for market reform

Wall Street group issues recommendations for market reform

A year on from the start of the credit crisis, an industry group comprising of senior executives from Wall Street's biggest banks has published a wide-ranging set of recommendations for improving risk management and preventing another financial meltdown.

Cheque volumes on the slide in US

Cheque volumes on the slide in US

A US study released by TowerGroup forecasts a continuing decline in cheque volumes - from 22.1 billion items in 2006 to 17.9 billion by the end of 2009 - as consumers turn to electronic payments.

Fed study charts decline of cheques in favour of automated payments

Fed study charts decline of cheques in favour of automated payments

The US Federal Reserve's annual study of noncash payments reveals that in 2006 more than two-thirds of all US noncash payments were made electronically.

Online unveiling for new $5 bill

Online unveiling for new $5 bill

The US government has unveiled the re-design of the $5 note on the Internet.

Unisys to develop new cheque payments system for Fed banks

Unisys to develop new cheque payments system for Fed banks

Unisys will design and help implement a new electronic cheque and image processing system for the Federal Reserve Bank of Cleveland, acting on behalf of the 12 Federal Reserve Banks.

Bank of Tokyo-Mitsubishi censured by Federal Reserve

Bank of Tokyo-Mitsubishi censured by Federal Reserve

The New York branch of Bank of Tokyo-Mitsubishi has been ordered to improve operational controls in payments and clearing and recruit new compliance staff after a Federal Reserve probe into alleged failures in monitoring money laundering activity.

Chips and Fed call for streamlined wire transfers

Chips and Fed call for streamlined wire transfers

The Clearing House Payments Company and Federal Reserve banks have called on payments industry participants to improve the operation of wire transfer systems or risk losing corporate business to ACHs and other alternative mechanisms.

US regulators call for banks to "red flag" ID theft risks

US regulators call for banks to "red flag" ID theft risks

US regulators are proposing the introduction of new rules that will require all banks to develop an identity theft prevention programme for customers that includes "red flags" to signal a possible risk of ID theft.

Fed closes more cheque processing centres; cuts 130 jobs

Fed closes more cheque processing centres; cuts 130 jobs

The US Federal Reserve of Banks is shutting down three more cheque processing centres, leading to the loss of 130 jobs, despite recording a profit on operations last year.

US financial sector passes resiliency test

US financial sector passes resiliency test

Federal regulatory agencies in the US say that clearing and settlement organisations and other firms that play significant roles in critical financial markets are now considerably more resilient to wide-scale disruptions than before September 11.

US regulators urge banks to plan for bird flu

US regulators urge banks to plan for bird flu

US regulators are urging financial institutions across the country to devise contingency plans for dealing with a possible widespread outbreak of avian flu.

Dealers pledge to create electronic credit derivatives market

Dealers pledge to create electronic credit derivatives market

Leading credit derivatives dealers have pledged to cut the backlog of unconfirmed trades littering back offices by 70% by the end of June, as part of a package of measures aimed at creating a largely-electronic marketplace.

Credit derivatives dealers meet Fed targets

Credit derivatives dealers meet Fed targets

The Federal Reserve Bank of New York says the world's major derivatives dealers have met initial targets for reducing the backlog of unconfirmed trades in the booming $12.4 trillion credit derivatives market.

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