Federal Reserve Board

235 results about this entity

Period: 17 Feb 2006 - 10 May 2024

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Fed Governor challenges Facebook's Libra project

Fed Governor challenges Facebook's Libra project

The Federal Reserve's Lael Brainard has warned Facebook that it will be expected to meet a high threshold of legal and regulatory safeguards before launching its Libra cryptocurrency.

/payments

Fed joins US Faster Payments Council as founding sponsor

The Federal Reserve System today announced it has joined the U.S. Faster Payments Council (FPC) as a founding sponsor.

US regulators approve alternative data to assess creditworthiness

US regulators approve alternative data to assess creditworthiness

Federal banking regulators in the US have given their support to the use of the alternative data other than traditional credit scores in determining creditworthiness.

Industry players welcome FedNow faster payments plan

/payments

Industry players welcome FedNow faster payments plan

The American Bankers Association and credit union groups are among those offering their support for the Federal Reserve Board's plans to build a new round-the-clock real-time payment and settlement service.

Fed governor warns of 'core' regulatory challenges facing Libra

/regulation

Fed governor warns of 'core' regulatory challenges facing Libra

Facebook's Libra project will need to address core legal and regulatory challenges before it can facilitate a single payment, US Federal Reserve governor Lael Brainard has warned.

/payments

Federal Reserve delays Fedwire ISO 20022 migration

Based on a recent industry request to revisit the ISO 20022 migration strategy, the Federal Reserve Banks today announced a pause in their previously announced plans for a three-phased migration to the ISO 20022 messaging standard for the Fedwire Funds Service.

/payments

Fed puts Montgomery in charge of new faster payments project

The Federal Reserve System today announced that First Vice President Kenneth C. Montgomery will lead the development of a new FedNowSM Service to support faster payments in the United States with interbank real-time gross settlement (RTGS) and integrated clearing.

Federal Reserve to build real-time payment and settlement system

Federal Reserve to build real-time payment and settlement system

The Federal Reserve has announced plans to build a new round-the-clock real-time payment and settlement service that will compete for business with The Clearing House's RTP network, backed by some of the nation's biggest banks.

Political pressure grows for Fed to build real time payment system

Political pressure grows for Fed to build real time payment system

Democratic senators in the US are pushing a bill that would require the Federal Reserve to develop a real-time payment system as an alternative to the bank-backed Clearing House network.

/regulation

Sifma calls for changes in Fed proposal that could limit bank investment in emerging companies

The Securities Industry and Financial Markets Association (SIFMA) and the Financial Services Forum today submitted joint comments on a proposal modifying the rules for determining control of a banking organization, issued by the Board of Governors of the Federal Reserve System (FRB) with the stated goal of simplifying and increasing transparency.

/security

Fed paper examines synthetic identity payments fraud

Synthetic identity payments fraud is a fast-growing but little-understood problem that affects individuals, financial institutions, government agencies, and private industry.

Boston Fed paper explores 'supervisory nodes' on blockchain networks

Boston Fed paper explores 'supervisory nodes' on blockchain networks

If blockchain technology become a major part of the financial service scene, regulators may have to start putting "supervisory nodes" on networks in order to properly monitor the industry and prevent future economic crises, says a Federal Reserve Bank of Boston paper.

/regulation

Standard Chartered hammered by FCA/Fed over money laundering

The Financial Conduct Authority (FCA) has fined Standard Chartered Bank (Standard Chartered) £102,163,200 for Anti-Money Laundering (AML) breaches in two higher risk areas of its business.

/regulation

Fed adjusts daylight overdraft rules for foreign banking organisations

The Federal Reserve Board on Wednesday published a final rule implementing policy changes to procedures governing the provision of intraday credit to U.S. branches and agencies of foreign banking organizations (FBOs).

New York Fed launches fintech advisory group

New York Fed launches fintech advisory group

The Federal Reserve Bank of New York has set up a fintech advisory group, bringing together expertise from the worlds of financial services, technology, academia and non-profits.

/security

Federal Reserve names members of fraud definitions working group

The Federal Reserve today announced the members of its Fraud Definitions Work Group, the latest initiative to advance the Federal Reserve's strategy for improving the U.S. payment system.

New York Fed to help Bangladesh Bank in $81 million cybercrime suit

/security

New York Fed to help Bangladesh Bank in $81 million cybercrime suit

The New York Federal Reserve is to assist Bangladesh Bank in a legal challenge to recoup $81 million stolen in a massive cyber heist in 2016.

US shutdown impacts fintech market

US shutdown impacts fintech market

The ongoing shutdown of the US government, sparked by a disagreement over funding for border security, is starting to impinge on the US fintech industry, according to reports.

US regulators push for new technology to tackle financial crime

US regulators push for new technology to tackle financial crime

US regulators have promised not to penalise banks that use artificial intelligence tools to spot gaps in existing anti-money laundering programmes, paving the way for the use of new technologies to tackle illicit financial activity.

/ai

Speech: Fed Reserve governor Brainard on what we are learning about AI in financial services

Although it is still early days, it is already evident that the application of artificial intelligence (AI) in financial services is potentially quite important and merits our attention.

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