Fed Raises Interest Rates in Response to Strong Economy

The Federal Reserve raised the target range for the federal funds rate to 2% to 2-1/4% in view of realized and expected labor market conditions and inflation.

Fed Lifts Flagstar Bank Supervisory Agreement

The Federal Reserve lifted its supervisory agreement with Flagstar Bancorp as of August 14, 2018.

Wells Fargo Risk Exec Departs After Fed Slaps Bank Again

The Wall Street Journal reported Wells Fargo Chief Operational Risk Officer Mark D’Arcy is leaving after an 18-month tenure following a Federal enforcement action against the bank.

Fed Survey: Loan Officers Easing Standards on C&I Loans

Respondents to the Federal Reserve’s July 2018 Senior Loan Officer Opinion Survey on Bank Lending Practices indicated officers eased their standards and terms on C&I loans to firms of all sizes.

Fed: Largest Banks ‘Strongly Capitalized’, Pass Stress Tests

According to the Fed, the nation’s largest banks are strongly capitalized and would be able to lend to households and businesses during a severe global recession.

Fed Approves Rule to Prevent Risk Concentration Between Large Banks

The Federal Reserve Board approved a rule to prevent concentrations of risk between large banking organizations and their counterparties from undermining financial stability.

Fed Raises Interest Rate; More Increases to Come

Bloomberg reported that the Federal Reserve increased the benchmark interest rate by a quarter percentage point; a move designed to slow inflation.

Fed Asks for Comments on Relaxing Volcker Rule

The Federal Reserve Board asked for comment on a proposed rule to simplify and tailor compliance requirements relating to the “Volcker rule.”

Dump LIBOR, Say Fed, BoE Officials

Reuters reported both the U.S. Federal Reserve and Bank of England urged global financial markets to increase their efforts to replace LIBOR with alternative interest rate benchmarks.

ICBA Commends Fed for ‘Equitable Treatment of Wells Fargo’

ICBA commended the Federal Reserve for “equitable treatment of Wells Fargo following the megabank’s repeated consumer abuses.”