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Fed to Hold Facebook’s Crypto Coin to ‘High’ Bar: Powell

“The U.S. Federal Reserve is looking carefully at Facebook’s planned cryptocurrency Libra, and will hold it to high standards regarding protecting consumers and regulation, Federal Reserve Chairman Jerome Powell said on Tuesday. “Libra’s a new thing; we are looking at it very carefully,” Powell said in response to an audience question after a talk at […]

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Federal Reserve Board Invites Public Comment on Proposed Guidelines to Evaluate Requests for Accounts and Payment Services at Federal Reserve Banks

“The Federal Reserve Board on Wednesday invited public comment on proposed guidelines to evaluate requests for accounts and payment services at Federal Reserve Banks (“Account Access Guidelines”). Recent years have seen the introduction of new financial products and delivery mechanisms for traditional banking services, notably leveraging emerging technologies, including from institutions with novel types of […]
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Companies

Federal Reserve Board to Maintain the Current Schedule of Prices for Most Payment Services That the Federal Reserve Banks Provide to Depository Institutions in 2021

“The Federal Reserve Board on Tuesday announced its intent to maintain the current schedule of prices for most payment services that the Federal Reserve Banks provide to depository institutions (priced services) in 2021. This approach recognizes the uncertainties created by the COVID-19 pandemic, and the difficulty in applying standard forecasting tools in this environment.”