A bank was assessed an $11,000 civil money penalty over reported violations of federal flood insurance requirements under an order announced Thursday by the Federal Reserve Board. Meanwhile, a former California bank employee is named […]
A plan for the Federal Reserve Banks to adopt a new message format for the Fedwire® Funds Service on a single day, rather than three separate phases as earlier proposed, is out for comment until […]
Title: New Message Format for the Fedwire® Funds Service Subject: Payment services Agency: Federal Reserve Status: Notice and request for comment Summary: The Board of Governors of the Federal Reserve System (Board) is announcing that […]
The “year of magical thinking” is over, and market participants should act now to accelerate their transition away from LIBOR, the Federal Reserve’s top supervision officer said Tuesday. Federal Reserve Board Vice Chair for Supervision […]
Improving the agency’s information technology (IT) investment management program is the aim of four recommendations from the federal credit union regulator’s inspector general following a recent audit of the agency’s governance of IT initiatives, according […]
Third-quarter call reports that include new data items for sweep deposits at banks with both domestic and foreign offices were distributed by the three federal banking agencies Monday. According to a financial institution letter (FIL-68-2021) […]
Current issues affecting community banking are slated for discussion at the Nov. 3 virtual public meeting of the Federal Deposit Insurance Corp.’s (FDIC) Advisory Committee on Community Banking, the agency says in a notice slated […]
Nine out of the 83 banks that received their Community Reinvestment Act (CRA) evaluation ratings in July were given the rating of “outstanding” by the federal insurer of bank deposits, while two received the rating […]
The message format will change for the Federal Reserve’s Fedwire Funds Service – to ISO 20022 — the agency said Monday, adding the change is being made to increase efficiency and data collection. Additionally, the […]
Technology firms that will make up six teams were selected to participate in a “tech sprint” designed to explore new technologies and techniques to determine how well community banks, and all banks, can withstand a […]
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