Federal Reserve System
Clarida and Bowman nominated to Fed
Monetary economist and community bank specialist picked to fill vacancies on Fed board
FOMC minutes show members expecting higher US inflation
Fed’s rate-setters say current fiscal policy has few historical parallels
Fed proposes changing leverage ratios for largest US financial firms
Proposals would make leverage ratios “more closely tailored” to firm’s risk profile, Fed argues
New York Fed lays out QE unwinding scenarios
Fed’s balance sheet is expected to stabilise between $2.5 trillion and $3.3 trillion
Fed outlines simplified capital regime
“Stress capital buffer” would likely raise capital requirements somewhat for many of the largest banks and lower them for the smallest, the Fed says
Fed’s Powell emphasises ‘patient’ approach to policy
Fed chair acknowledges very low unemployment has been accompanied by other signs that the labour market may be operating below potential
Fed’s risk proposal puts banks on the defensive
New supervisory guidance will make business heads responsible for risk management
Fed’s Brainard notes pro-cyclical challenges to supervision
Fiscal stimulus at a time when the economy is running hot requires vigilance, governor says; stress tests cannot counter all pro-cyclicality in credit
John Williams named president of New York Fed
Candidate proved contentious on diversity grounds, but brings deep macroeconomic experience
Issing sees ‘uncertain future’ for central bank independence
The eurozone architect warns central banks that overreach open themselves to political attack
People: new Indonesian governor confirmed
Perry Warjiyo and new deputy approved in Indonesia; Richard Clarida mooted for Fed vice-chair; Central Bank of Chile appoints new deputy governor
John Williams’ candidacy for New York Fed job draws fire
Selection process criticised for failing to promote diversity among top Fed officials
Critic of regulation likely to become next head of FDIC
Jelena McWilliams to appear before senate prior to FDIC chair appointment
Lagarde proposes new European fiscal fund
The mechanism would reduce reliance on monetary policy to respond to future crises
Fed policy should become more neutral – Bostic
As the economy operates close to potential and inflation approaches target, rates can be raised, the Atlanta Fed president says
Fed profits shrink as interest expenses bite
The Fed’s profits in 2017 were more than $10 billion smaller than a year earlier, as the effects of interest rate hikes begin to show
Powell strikes cautiously upbeat note in first policy press conference
Federal Open Market Committee shifts economic forecasts up marginally
New York Fed director involved in selecting new president resigns
David Cote stepped down shortly after the institution revealed it was considering “a handful of final candidates”
Fed’s unconventional policies similar to measures in 1920s, says research
Market operations early in the 20th century more than tripled Fed’s Treasury portfolio
People: Bank of Finland to select new governor
Finnish governor Liikanen finishes final term in July; Seychelles reappoints governor and deputies; South Africa sets up foreign exchange committee; Atlanta Fed’s vice-president retires
Fed issues AML enforcement order on China’s largest bank
Bank must submit to third-party review of “high risk” transactions and customers, Fed says
Treasury official calls on Fed to review foreign bank rules
Senate bill aims to relax US Sifi threshold but offers no relief for foreign banks
Deregulatory bill gathers bipartisan support in US Senate
The amendment lifts the asset threshold beyond which banks are submitted to stricter oversight
Quarles reveals plan to simplify Volcker rule
The Volcker rule is too complex and “is not working well”, says Fed vice-chair; regulators preparing a package of “material changes”