Circular letters announce news, policy, and guidance from the Board of Governors. 

2016

Federal Reserve Issues FOMC Statement

Nov 02, 2016

Information received since the Federal Open Market Committee met in September indicates that the labor market has continued to strengthen and growth of economic activity has picked up from the modest pace seen in the first half of this year.
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Agencies Issue an Exception on Real Estate Transactions in Areas Affected by Severe Storms and Flooding

Oct 24, 2016

Four federal financial institution regulatory agencies issued an exception from the appraisal requirements for real estate-related financial transactions in the parishes declared to be in a major disaster area due to the severe storms and flooding in Louisiana.
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Federal Reserve Offered Seven-Day Term Deposits October 20

Oct 20, 2016

On October 20, 2016, the Federal Reserve conducted a floating-rate offering of term deposits through its Term Deposit Facility.
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Comment Requested on Proposed Enhanced Cyber Risk Management Standards

Oct 19, 2016

The three federal banking regulatory agencies today approved an advance notice of proposed rulemaking (ANPR) inviting comment on a set of potential enhanced cybersecurity risk-management and resilience standards that would apply to large and interconnected entities under their supervision.
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Minutes of the September 20–21 FOMC Meeting Released

Oct 12, 2016

The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on September 20–21, 2016.
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Federal Reserve Issues FOMC Statement

Sep 21, 2016

Information received since the Federal Open Market Committee met in July indicates that the labor market has continued to strengthen and growth of economic activity has picked up from the modest pace seen in the first half of this year.
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Federal Reserve Board and FOMC Release Economic Projections

Sep 21, 2016

Table and charts released on Wednesday summarize the economic projections and the target federal funds rate projections made by Federal Open Market Committee participants for the September 20–21 meeting.
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Board Provides Framework for Setting Countercyclical Capital Buffer

Sep 08, 2016

The Federal Reserve Board on Thursday released a policy statement detailing the framework the Board will follow in setting the Countercyclical Capital Buffer (CCyB) for private-sector credit exposures located in the United States.
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Agencies Issue Study on Banking Activities, Investments

Sep 08, 2016

The Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency today released a report to the Congress and the Financial Stability Oversight Council on the activities and investments that banking entities may engage in under applicable law.
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Minutes of the July 26–27 FOMC Meeting Released

Aug 17, 2016

The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on July 26–27, 2016.
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Federal Reserve Announces Results of Offering of Term Deposits

Aug 11, 2016

On August 11, 2016, the Federal Reserve conducted a floating-rate offering of term deposits through its Term Deposit Facility.
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Federal Reserve to Offer Seven-Day Term Deposits August 11

Aug 04, 2016

The Federal Reserve plans to continue its previously announced periodic testing of the Term Deposit Facility (TDF) with one operation in August.
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Agencies Report Progress on U.S. Treasury Market Structure Review

Aug 02, 2016

The U.S. Department of Treasury, the Board of Governors of the Federal Reserve System, the Federal Reserve Bank of New York, the U.S. Securities and Exchange Commission, and the U.S. Commodity Futures Trading Commission (Joint Member Agencies) today issued this statement to highlight significant actions taken since the issuance last July of their Joint Staff Report on the U.S. Treasury market, including the recently signed memorandum of understanding to share information on U.S. Treasury cash and related derivative markets among the agencies and their plans to host a second conference on October 24 to continue progress on these efforts.
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Rule Exempting Certain End Users from Margin Requirements Finalized

Aug 01, 2016

Five federal agencies today announced a final rule exempting certain commercial and financial end users from margin requirements for certain swaps not cleared through a clearinghouse.
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Board Seeks Comment on Rule Adjusting Certain Penalties

Aug 01, 2016

The Federal Reserve Board on Monday invited comment on an interim final rule adjusting the Board's maximum civil money penalties, as required by law.
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Shared National Credit Review: Risk Remains High, Underwriting and Risk Management Improve

Jul 29, 2016

Credit risk in the Shared National Credit (SNC) portfolio remained elevated, but underwriting and risk management practices improved from prior assessments, according to a review of large shared and complex credits released today by federal banking agencies.
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Federal Reserve Issues FOMC Statement

Jul 27, 2016

Information received since the Federal Open Market Committee met in June indicates that the labor market strengthened and that economic activity has been expanding at a moderate rate.
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Federal Reserve Extends Comment Period for Advanced Notice of Proposed Rulemaking

Jul 25, 2016

The Federal Reserve Board on Monday extended until September 16, 2016, the comment period for the advanced notice of proposed rulemaking (ANPR) detailing conceptual frameworks for capital standards that could apply to systemically important insurance companies and to insurance companies that own a bank or thrift.
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Agencies Propose Method for Exempting Small Loans from Special Appraisal Requirements

Jul 22, 2016

The Consumer Financial Protection Bureau (CFPB), the Federal Reserve Board, and the Office of the Comptroller of the Currency (OCC) today issued a proposal detailing the method that will be used to make annual inflation adjustments to the threshold for exempting small loans from higher priced mortgage loan appraisal requirements.
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Agencies Issue Proposal on Certain Consumer Credit and Lease Transactions

Jul 22, 2016

The Federal Reserve Board and the Consumer Financial Protection Bureau (CFPB) today issued a proposal detailing the method that will be used to adjust the thresholds for exempting certain consumer credit and lease transactions from the Truth in Lending Act and Consumer Leasing Act.
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Federal Reserve Announces Changes to Policy on Payment System Risk

Jul 22, 2016

The Federal Reserve Board on Thursday announced the adoption of changes to part II of the Federal Reserve Policy on Payment System Risk (PSR policy) to conform with enhancements to the Reserve Banks' same-day automated clearing house (ACH) service previously announced by the Board on September 23, 2015.
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Agencies Revise Interagency Questions and Answers Regarding Community Reinvestment

Jul 15, 2016

The federal bank regulatory agencies with responsibility for Community Reinvestment Act (CRA) rulemaking today published final revisions to "Interagency Questions and Answers Regarding Community Reinvestment."
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Conformance Period Extended for Certain Volcker Rule Legacy Fund Investments

Jul 07, 2016

Formalizing its prior commitment to facilitate the orderly implementation of section 619 of the Dodd-Frank Act, commonly known as the Volcker Rule, the Federal Reserve Board on Thursday announced that it will extend until July 21, 2017 the conformance period for banking entities to divest ownership in certain legacy investment funds and terminate relationships with funds that are prohibited under the rule.
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Technical Error Occurred during Release of June FOMC Minutes

Jul 07, 2016

A technical error occurred Wednesday during the media lock-up for the release of the minutes of the June meeting of the Federal Open Market Committee.
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Minutes of the June 14–15 FOMC Meeting Released

Jul 06, 2016

The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on June 14–15, 2016.
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Board Releases Annual Determination of Aggregate Consolidated Liabilities of Financial Firms

Jun 30, 2016

The Federal Reserve Board on Thursday released its annual determination of the aggregate consolidated liabilities of financial companies as required by section 622 of the Dodd-Frank Act.
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Results of Comprehensive Capital Analysis and Review Released

Jun 29, 2016

The Federal Reserve Board on Wednesday announced it has not objected to the capital plans of 30 bank holding companies participating in the Comprehensive Capital Analysis and Review (CCAR).
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Agencies Issue Host State Loan-to-Deposit Ratios

Jun 20, 2016

The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency issued the host state loan-to-deposit ratios that they will use to determine compliance with section 109 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994.
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New Accounting Standard on Financial Instruments-Credit Losses Discussed

Jun 20, 2016

The four federal financial institution regulatory agencies issued a joint statement regarding the new accounting standard, Accounting Standards Update (ASU) No. 2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, issued by the Financial Accounting Standards Board.
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Agencies Release List of Distressed or Underserved Nonmetro Middle-Income Geographies

Jun 17, 2016

The Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation today announced the availability of the 2016 list of distressed or underserved nonmetropolitan middle-income geographies, where revitalization or stabilization activities are eligible to receive Community Reinvestment Act (CRA) consideration as community development.
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Federal Reserve Issues FOMC Statement

Jun 15, 2016

Information received since the Federal Open Market Committee met in April indicates that the pace of improvement in the labor market has slowed while growth in economic activity appears to have picked up.
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Federal Reserve Board and FOMC Release Economic Projections

Jun 15, 2016

The attached table and charts released on Wednesday summarize the economic projections and the target federal funds rate projections made by Federal Open Market Committee participants for the June 14-15 meeting.
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Reduced Content Resolution Plans Will Be Allowed for Certain Firms

Jun 10, 2016

The Federal Reserve Board and the Federal Deposit Insurance Corporation (FDIC) on Friday permitted 84 firms with limited U.S. operations to file reduced content resolution plans for their next three resolution plans.
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Comment Requested on Capital Standards for Insurance Company Groups

Jun 06, 2016

The Federal Reserve Board approved an advance notice of proposed rulemaking (ANPR) inviting comment on conceptual frameworks for capital standards that could apply to systemically important insurance companies and to insurance companies that own a bank or thrift. The standards would differ for each group.
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Schedule for Results from Dodd-Frank Related Stress Tests, CCAR Released

Jun 02, 2016

The Federal Reserve Board on Thursday announced that results from the latest supervisory stress tests conducted as part of the Dodd-Frank Act will be released on Thursday, June 23, and the related results from the Comprehensive Capital Analysis and Review (CCAR), will be released on Wednesday, June 29.
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Comment Requested on Proposed Rule on Incentive-Based Pay

May 25, 2016

Six federal agencies are inviting public comment on a proposed rule to prohibit incentive-based compensation arrangements that encourage inappropriate risks at covered financial institutions.
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Results of Seven-Day Term Deposits Offering

May 19, 2016

On May 19, 2016, the Federal Reserve conducted a floating-rate offering of term deposits through its Term Deposit Facility.
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Minutes of the April 26–27 FOMC Meeting Released

May 18, 2016

The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on April 26–27, 2016.
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Federal Reserve to Offer Seven-Day Term Deposits May 19

May 12, 2016

The Federal Reserve plans to continue its previously announced periodic testing of the Term Deposit Facility (TDF) with one operation in May.
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Board Proposes Rule to Support U.S. Financial Stability

May 03, 2016

The Federal Reserve Board on Tuesday proposed a rule to support U.S. financial stability by enhancing the resolvability of very large and complex financial firms.
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Agencies Propose Net Stable Funding Ratio Rule

May 03, 2016

The federal banking agencies proposed a rule to strengthen the resilience of large banking organizations by requiring them to maintain a minimum level of stable funding relative to the liquidity of their assets, derivatives, and commitments, over a one-year period.
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Board Approves Notice on Incentive Compensation Provisions of Section 956 of Dodd-Frank

May 02, 2016

The Federal Reserve Board on Monday announced it has approved a joint agency notice of proposed rulemaking to implement the incentive compensation provisions of section 956 of the Dodd Frank Wall Street Reform and Consumer Protection Act. The vote was unanimous.
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Federal Reserve Issues FOMC Statement

Apr 27, 2016

Information received since the Federal Open Market Committee met in March indicates that labor market conditions have improved further even as growth in economic activity appears to have slowed.
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Comment Sought on Proposed Rule Affecting Global Systemically Important Bank Holding Companies

Apr 07, 2016

The Federal Reserve Board on Thursday proposed technical amendments to its rule requiring global systemically important bank holding companies (GSIBs) to hold additional amounts of risk-based capital. The proposal would not materially change the underlying rule finalized by the Board in July 2015.
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Minutes of the March 15–16 FOMC Meeting Released

Apr 06, 2016

The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the minutes of the Committee meeting held on March 15–16, 2016.
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Fed Board Finalizes Rule on Liquidity Requirements

Apr 06, 2016

The Federal Reserve Board on Friday finalized a rule to include certain U.S. general obligation state and municipal securities in the range of assets large banking organizations may use to satisfy regulatory requirements designed to ensure that these banking organizations have the capacity to meet their liquidity needs during a period of financial stress.
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Federal Reserve Releases Report on Mobile Financial Services

Mar 30, 2016

Mobile banking use continued to rise last year as smartphone adoption grew and consumers were increasingly drawn to the convenience of mobile financial services, according to a Federal Reserve Board report, Consumers and Mobile Financial Services 2016, released on Wednesday.
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Federal Reserve Supports Effort to Assess Faster Payments Solutions

Mar 29, 2016

The Federal Reserve on Tuesday announced the selection of McKinsey & Company to support Faster Payments Task Force efforts this year to assess faster payments solution proposals from various providers across the United States payments industry.
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2016 Survey of Finance Companies Commences

Mar 23, 2016

The Federal Reserve will begin its Survey of Finance Companies in March as part of the continuing effort to paint a comprehensive view of the range of companies in this sector of the U.S. financial system.
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Agencies Give Guidance on Customer Identification Program Rule

Mar 21, 2016

Federal financial institution regulatory agencies today issued guidance clarifying the applicability of the Customer Identification Program (CIP) rule to prepaid cards issued by banks.
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Federal Reserve System Publishes Annual Financial Statements

Mar 18, 2016

The Federal Reserve System released the 2015 combined annual audited financial statements for the Federal Reserve Banks, as well as statements for the 12 individual Federal Reserve Banks, Maiden Lane LLC (ML LLC), and the Board of Governors.
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Federal Reserve Issues FOMC Statement

Mar 16, 2016

Information received since the Federal Open Market Committee met in January suggests that economic activity has been expanding at a moderate pace despite the global economic and financial developments of recent months.
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Economic Projections from the March 15–16 FOMC Meeting Released

Mar 16, 2016

Table and charts released on Wednesday summarize the economic projections and the target federal funds rate projections made by Federal Open Market Committee participants for the March 15–16 meeting
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Agencies Clarify Expectations about Using Property Evaluations

Mar 04, 2016

WASHINGTON--The federal banking agencies today issued an advisory to clarify expectations for the use of property evaluations by banking institutions.
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Some Banks, Savings Associations to Qualify for 18-Month Examination Cycle

Feb 19, 2016

Federal banking agencies today increased the number of small banks and savings associations eligible for an 18-month examination cycle rather than a 12-month cycle.
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Reserve Bank Presidents and First Vice Presidents Reappointed

Feb 19, 2016

The Federal Reserve Board on Friday approved the reappointment of 10 Federal Reserve Bank presidents and 10 first vice presidents by their respective boards of directors.
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Comment Requested on Interim Final Rule Regarding Regulation I

Feb 18, 2016

The Federal Reserve Board on Thursday issued an interim final rule that amends Regulation I to implement provisions of the Fixing America's Surface Transportation (FAST) Act.
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Results of Seven-Day Term Deposits Offering

Feb 18, 2016

On February 18, 2016, the Federal Reserve conducted a floating-rate offering of term deposits through its Term Deposit Facility.
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Federal Reserve Offers Seven-Day Term Deposits

Feb 17, 2016

On February 18, 2016, the Federal Reserve will conduct a floating-rate offering of term deposits with an early withdrawal feature through its Term Deposit Facility (TDF).
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Minutes of the January 26-27 FOMC Meeting Released

Feb 17, 2016

The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on January 26-27, 2016.
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Board Repeals Regulation AA, Requests Comment on Proposed Regulation C Repeal

Feb 12, 2016

The Federal Reserve Board on Thursday announced the repeal of one regulation and a proposal to repeal a second in order to comply with statutory provisions that transferred certain consumer protection rulewriting authority to the Consumer Financial Protection Bureau (CFPB).
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Fed Highlights Progress in Efforts to Improve U.S. Payment System

Feb 02, 2016

In a report that comes one year after the publication of its Strategies for Improving the U.S. Payment System, the Federal Reserve on Tuesday detailed the progress made and outlined anticipated steps for moving forward with its initiative to enhance payment system speed, efficiency, and security.
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Federal Reserve Issues FOMC Statement

Jan 27, 2016

Information received since the Federal Open Market Committee met in December suggests that labor market conditions improved further even as economic growth slowed late last year.
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FOMC Reaffirms Its Longer-Run Goals and Monetary Policy Strategy

Jan 27, 2016

As part of its annual organizational meeting actions, the Federal Open Market Committee reaffirmed its "Statement on Longer-Run Goals and Monetary Policy Strategy," with a revision to clarify that it views its inflation objective as symmetric, and with an updated reference to participants' estimates of the longer-run normal unemployment rate in the most recent Summary of Economic Projections (December 2015).
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Minutes of the December 15–16 FOMC Meeting Released

Jan 06, 2016

The Federal Reserve Board and the Federal Open Market Committee released the minutes of the Committee meeting held on December 15–16, 2015.
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