FRB

Federal Reserve News: Regulators encourage institutions to work with borrowers affected by government shutdown

WASHINGTON – Jan. 12, 2019 – Five federal financial institution regulators and state regulators encourage financial institutions to work with consumers affected by the federal government shutdown. While the effects of the federal government shutdown on individuals should be temporary, affected borrowers may face a temporary hardship in making payments on debts such as mortgages, … Continue reading Federal Reserve News: Regulators encourage institutions to work with borrowers affected by government shutdown

Federal Reserve News: FRB announces approval of application by First Busey Corporation

WASHINGTON – Jan. 12, 2019 – The Federal Reserve Board (FRB) on Friday announced its approval of the application under section 3 of the Bank Holding Company Act of 1956 by First Busey Corporation, Champaign, Illinois, to acquire The Banc Ed Corp., and thereby indirectly acquire Ed Corp’s subsidiary bank, The Bank of Edwardsville, both of Edwardsville, … Continue reading Federal Reserve News: FRB announces approval of application by First Busey Corporation

Federal Reserve Board News: Federal Reserve issues FOMC statement

WASHINGTON – Information received since the Federal Open Market Committee met in November indicates that the labor market has continued to strengthen and that economic activity has been rising at a strong rate.  Job gains have been strong, on average, in recent months, and the unemployment rate has remained low.  Household spending has continued to … Continue reading Federal Reserve Board News: Federal Reserve issues FOMC statement

Federal Reserve News: Agencies seek public comment on proposal to raise appraisal exemption threshold for residential real estate transactions

WASHINGTON – The three federal banking agencies announced they are seeking public comment on a proposal to raise the threshold for residential real estate transactions requiring an appraisal from $250,000 to $400,000.  The appraisal threshold has remained unchanged since 1994, and the agencies believe an increase would provide burden relief without posing a threat to … Continue reading Federal Reserve News: Agencies seek public comment on proposal to raise appraisal exemption threshold for residential real estate transactions

Federal Reserve Board News: FRB offices, Washington, D.C. will be closed December 5, 2018, observance of the national day of mourning for former President George H.W. Bush

WASHINGTON – The Board of Governors of the Federal Reserve System’s offices in Washington, D.C., will be closed on Wednesday, December 5, 2018, in observance of the national day of mourning for former President George H.W. Bush. Chairman Powell’s appearance before the Joint Economic Committee has been postponed.  The Beige Book will still be published … Continue reading Federal Reserve Board News: FRB offices, Washington, D.C. will be closed December 5, 2018, observance of the national day of mourning for former President George H.W. Bush

Federal Reserve News: Minutes of the Federal Open Market Committee, November 7-8, 2018

WASHINGTON – The Federal Reserve Board and the Federal Open Market Committee on Thursday released the attached minutes of the Committee meeting held on November 7-8, 2018. The minutes for each regularly scheduled meeting of the Committee ordinarily are made available three weeks after the day of the policy decision and subsequently are published in … Continue reading Federal Reserve News: Minutes of the Federal Open Market Committee, November 7-8, 2018

Federal Reserve Board News: FRB fines Société Générale S.A. $81.3 million for firm’s unsafe and unsound practices primarily related to violations of U.S. sanctions against Cuba

WASHINGTON – The Federal Reserve Board on Monday announced it has fined Société Générale S.A. of Paris, France, $81.3 million for the firm’s unsafe and unsound practices primarily related to violations of U.S. sanctions against Cuba. The Federal Reserve fined Société Générale for having insufficient policies and procedures to ensure that the activities conducted at … Continue reading Federal Reserve Board News: FRB fines Société Générale S.A. $81.3 million for firm’s unsafe and unsound practices primarily related to violations of U.S. sanctions against Cuba

Federal Reserve Board News: FRB approves fee schedule for Federal Reserve Bank priced services

WASHINGTON – The Federal Reserve Board on Friday announced the approval of fee schedules, effective January 2, 2019, for payment services the Federal Reserve Banks provide to depository institutions (priced services). The Reserve Banks project that they will recover 100.9 percent of their priced services costs in 2019.  The Reserve Banks expect to fully recover … Continue reading Federal Reserve Board News: FRB approves fee schedule for Federal Reserve Bank priced services