Lawmakers eye Fed surplus funds as source of cash
Approval of latest amendment puts buffer at risk
The Federal Reserve System could be tapped for cash to fund road construction in the United States, after the House of Representatives approved proposals that would transfer around $29 billion in "surplus funds" to the US Treasury.
Lawmakers were toying with a variety of measures to raise funds, one of which would have seen a reduction in the dividends paid by the reserve banks to their largest member banks. The policy, which attracted criticism from St Louis Fed president James Bullard, was
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Central Banks
US fiscal stimulus boosted vehicle price pressures – Fed research
Vehicle sales driven by consumer and small business stimulus, say Fed researchers
Trial opens in Vietnam over alleged multi-billion dollar fraud
Accused include real estate tycoon and 15 former central bank officials
CMU should drive green and digital transitions, says BdF governor
Villeroy de Galhau calls for capital markets union to adopt “higher purpose”
Most central banks’ cloud services are software-focused
Operational environment is largely hybrid and public, while access to server is often domestic
Fintech employees trained in AI in just over one-third of central banks
Senior management staff are least trained across jurisdictions
AI being adopted in over half of central banks
Supervision, document automation, data analysis and research are primary areas of use
Regtech strategy still lacking in majority of central banks
Stress testing, AML/CFT risk and reporting are top areas of application
Suptech strategy adoption remains below 50%
Resource constraints and data quality issues are still barriers