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

FedNow’s Progress on Instant Payments May Weaken Case for Digital Dollar

FedNow’s Progress on Instant Payments May Weaken Case for Digital Dollar
FedNow’s Progress on Instant Payments May Weaken Case for Digital Dollar
March 09, 2022  |  Real-Time Payments

Deciding whether to create a digital dollar was a key part of an executive order President Joe Biden announced Wednesday morning (March 9) to create...

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Regulators’ Tough Approach to Bank Mergers May Have a Silver Lining
Regulators’ Tough Approach to Bank Mergers May Have a Silver Lining
March 09, 2022  |  Banking

On March 8, the Federal Reserve and the Office of the Comptroller of the Currency (OCC) held a hearing on the US Bancorp-MFUG Union Bank...

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Latest US Consumer Debt Data May Show Some Warning Signs Ahead
Latest US Consumer Debt Data May Show Some Warning Signs Ahead
March 08, 2022  |  Debt

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

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Fed Chairman, US Reps Call for Crypto Regs to Stop Russia From Avoiding Sanctions
Fed Chairman, US Reps Call for Crypto Regs to Stop Russia From Avoiding Sanctions
March 03, 2022  |  Cryptocurrency

Federal Reserve Chairman Jerome Powell called on Congress for swift action on cryptocurrency regulation Wednesday (March 2)  as Russia attempts to  evades sanctions, CoinTelegraph.com reported....

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Fed’s Plan to Expand Access to Payments System Raises Questions
Fed’s Plan to Expand Access to Payments System Raises Questions
March 02, 2022  |  Bank Regulation

On Tuesday, the Federal Reserve published an updated proposal for its guidelines to evaluate requests for accounts and services at Federal Reserve Banks. The new...

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Federal Reserve Proposes US Central Bank Payment System Changes
Federal Reserve Proposes US Central Bank Payment System Changes
March 01, 2022  |  Banking

The Federal Reserve Board has been looking closer at how financial firms get access to the U.S. Central Bank’s payment system, Bloomberg reported Tuesday (March...

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Federal Reserve Governor Stresses the Importance of a US CBDC
Federal Reserve Governor Stresses the Importance of a US CBDC
February 21, 2022  |  News

Lael Brainard, governor of the Federal Reserve System, in a speech at the U.S. Monetary Policy Forum in New York on Friday (Feb. 18), reiterated...

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Fed Governor: Digital, Decentralized Finance Holds Promise and Risk
Fed Governor: Digital, Decentralized Finance Holds Promise and Risk
February 20, 2022  |  Banking

Lael Brainard, a member of the Federal Reserve’s board of governors, said the rapidly changing digital finance world, with its decentralized focus, will necessitate the...

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