Federal Reserve System
Fed leadership divided on proposed capital rules
Powell warns rules could push activity into shadow banking
US bank lobbying spending increases sharply in Q2
ABA and ICBA increased their spending by 132.6% and 264% respectively between quarters
Bernanke to lead BoE review of inflation forecasting
Former Federal Reserve chair will work with Bank of England officials
US credit application rejections increase sharply
Automobile loan rejections hit highest level since NY Fed began measuring in 2013
US banks need higher capital levels, warns Kashkari
Banking stress may re-emerge if inflation is entrenched, Minneapolis Fed president says
Cash for a very rainy, tremorous or lava-filled day
Are central banks well-positioned to keep cash flowing during natural disasters?
US instant payment system FedNow goes live
Mester says service could handle P2P, cross-border, and interoperable payments
Fed fines Deutsche Bank $186.4 million for AML violations
German lender failed to comply with earlier orders and was involved in Danske Bank scandal
Bullard steps down as St Louis Fed president
FOMC hawk will become dean of Purdue Business School after 15 years leading regional Fed
Senate committee backs Biden’s Fed nominees
Legislators unanimously back Jefferson, but most Republicans oppose Cook and Kugler
US banks question stress-test discrepancies
Bank of America and Citigroup open talks with Fed about differing results
Fed economists estimate natural rate still at rock bottom
Analysis implies policy rate is firmly in restrictive territory and may not remain high
Policy has not been tight long enough – governors
Hot labour markets boost wages and core inflation, making inflation persistent
Ex-Fed vice-chair Quarles linked to bank seeking master account
Quarles’s involvement recalls controversy over Sarah Bloom Raskin
Fed’s Bowman questions Barr’s bank failures report
Governor says supervision is preferable to higher capital requirements
RBI’s Shaktikanta Das on financial sector reform, sticking to inflation targets and the e-rupee
The Reserve Bank of India governor speaks about developing credible self-insurance and sizeable FX reserves, inter-dependence with government, non-bank and bank regulatory reforms, demonetisation, rupee internationalisation and daily UPI payments hitting…
NBER paper estimates demand for bank reserves in US
Fed needs global estimates of demand curve slope to maintain interest rate control, authors say
Barr to review bank oversight, promising nimbler supervision
Fed vice-chair suggests “reverse stress tests” to measure what would break banks
Why fear, paranoia and distrust swirl around CBDCs
Populists and conspiracy theorists are exacerbating public concern about retail CBDCs. What can central banks do about it?
Fed holds policy rate steady
Powell says conditions for lower inflation are coming into place, and July will be a “live meeting”
Senior US officials criticise new third-party risk guidance
Members of Fed and FDIC boards object to vagueness and burdens on smaller banks
Fed contemplates rate hike or ‘skip’
Top officials indicate the terminal rate is not yet reached – but a pause is possible
Rule-setters need to heed their own advice
The US risks a reputation for failing to meet standards to which it holds others
Banknotes: April to June 2023
A round-up of news and salient issues that have affected central bankers in the past three months