Federal Reserve Board - News, Articles & Research

News

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.

18 December 2019

Company announcement/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.

05 December 2019

News

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.

05 December 2019

News/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.

11 November 2019

News/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.

17 October 2019

Company announcement/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.

23 September 2019

Company announcement/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.

15 August 2019

News

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.

06 August 2019

News

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.

24 July 2019

Company announcement/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.

16 July 2019

Company announcement/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.

09 July 2019

News

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.

01 May 2019