federal reserve

Federal Reserve System is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of financial panics led to the desire for central control of the monetary system in order to alleviate financial crises.

Source: federalreserve.gov

10 US Banks Participating in Test of Interoperable Digital Money Platform 

10 US Banks Participating in Test of Interoperable Digital Money Platform 
10 US Banks Participating in Test of Interoperable Digital Money Platform 
November 15, 2022  |  Cryptocurrency

Ten members of the banking community are working with the New York Innovation Center (NYIC), which is part of the Federal Reserve Bank of New...

READ MORE >
Fed Vice Chair Brainard: Crypto Needs ‘Strong Regulatory Guardrails’
Fed Vice Chair Brainard: Crypto Needs ‘Strong Regulatory Guardrails’
November 14, 2022  |  Legal & Regulation

Noting the losses that retail investors have suffered in the cryptocurrency market, Federal Reserve Vice Chair Lael Brainard has reportedly reiterated her view that the...

READ MORE >
FedNow Says 2023 Fee Schedule Includes Discount on Credit Transfer Rate
FedNow Says 2023 Fee Schedule Includes Discount on Credit Transfer Rate
November 10, 2022  |  Real-Time Payments

The Federal Reserve has announced pricing for the FedNow Service, its instant payments system that is to be launched in the middle of 2023.  Get...

READ MORE >
October Inflation Dips to 7.7% Fueling Hopes for ‘Soft Landing’
October Inflation Dips to 7.7% Fueling Hopes for ‘Soft Landing’
November 10, 2022  |  Economy

The nation’s closely watched Consumer Price Index fell to a nine-month low of 7.7% in October, as the impact of rising interest rates and weaker...

READ MORE >
Consumers Still Tapping Cards to Spend but Credit Growth Slows
Consumers Still Tapping Cards to Spend but Credit Growth Slows
November 07, 2022  |  Consumer Finance

We may be seeing a tipping point for debt — where gains in personal loan borrowing come at the expense of pricier credit card debt....

READ MORE >
NY Fed Official Says US CBDC Could Speed X-Border Transactions
NY Fed Official Says US CBDC Could Speed X-Border Transactions
November 04, 2022  |  CBDC

Faster cross-border transactions could be one of the most significant benefits of a United States central bank digital currency (CBDC), a New York Fed official...

READ MORE >
‘Excess Savings’ Far Less Excessive Than First Thought
‘Excess Savings’ Far Less Excessive Than First Thought
November 04, 2022  |  Consumer Finance

Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required....

READ MORE >
Federal Reserve’s Next 3 Years Include Instant Payments ‘Easy Button’
Federal Reserve’s Next 3 Years Include Instant Payments ‘Easy Button’
November 03, 2022  |  Real-Time Payments

The term “central bank” brings to mind thoughts of stability, resilience and trust, all things that have been part of the Federal Reserve’s DNA for...

READ MORE >