Kevin Warsh Takes Oath of Office as Chairman and a Member of the Board of Governors of the Federal Reserve...
Kevin Warsh was sworn in as chairman and board member of the Federal Reserve on May 22, 2026. The Federal Open Market Committee unanimously selected him as its chairman the same day. President Donald Trump nominated Warsh in March, and the Senate confirmed him as a board member on May 12 and as chairman on May 13. Warsh’s chairmanship runs through May 21, 2030, with his board term extending to January 31, 2040.
Agencies Publish Resolution Plan Feedback Letters for Certain Domestic and Foreign Banking Organizations
The FDIC and Federal Reserve released feedback letters on the 2025 resolution‑plan (living‑will) submissions for the eight largest U.S. banks and 56 foreign banking organizations. The joint review identified no shortcomings or deficiencies in any of the plans. Agencies also...
Federal Reserve Board Requests Public Comment on a Proposal to Establish a "Payment Account," Which Legally Eligible Financial Institutions Could...
The Federal Reserve Board has opened a public comment period on a proposal to create a “payment account” that eligible financial institutions can use solely for clearing and settling payments. The account would grant direct access to Fed payment services...
Federal Reserve Board Announces It Does Not Object to the Conversion of United Texas Bank, of Dallas, Texas, From a...
The Federal Reserve Board announced it will not object to United Texas Bank’s conversion from a Fed‑supervised state‑member institution to a national bank overseen by the Office of the Comptroller of the Currency. Under Dodd‑Frank, the Board must refrain from...
Agencies Issue Host State Loan-to-Deposit Ratios
On May 1, 2026 the FDIC, Federal Reserve Board and OCC released updated host‑state loan‑to‑deposit ratios, replacing the May 2025 figures. The ratios measure total loans versus total deposits for all banks operating in each state, a metric required by law to monitor...
Federal Reserve Board Announces Approval of Application by Banco De Credito Del Peru
The Federal Reserve Board approved Banco de Credito del Peru’s application to open a state‑licensed branch in Coral Gables, Florida, announced on April 24, 2026. The Peruvian bank will now be authorized to offer U.S. dollar deposits and loan services...
Agencies Finalize Changes to Enhance Community Bank Leverage Ratio
The Federal Deposit Insurance Corporation, Federal Reserve Board, and Office of the Comptroller of the Currency jointly finalized a rule that lowers the community‑bank leverage ratio from 9% to 8% and extends the compliance grace period to four quarters. The...
Federal Reserve Board Announces Termination of Enforcement Actions with Crédit Agricole S.A. and Crédit Agricole Corporate and Investment Bank, Mega...
The Federal Reserve Board announced on April 9, 2026 that it is terminating three longstanding cease‑and‑desist enforcement actions—one against Crédit Agricole S.A. and its corporate‑banking arm, another covering Mega International Commercial Bank’s U.S. branches, and a third involving Goldman Sachs. The orders,...
Federal Reserve Board Invites Public Comment on Proposal that Would Allow U.S. Banks and Credit Unions to Use Intermediaries to...
The Federal Reserve Board has opened a 60‑day public comment period on a proposal that would permit U.S. banks and credit unions to route payments through intermediaries on the FedNow Service. Currently, FedNow transactions can involve only two domestic banks,...
Federal Reserve Board Announces It Has Made the Joint Findings with the Office of the Comptroller of the Currency Required...
The Federal Reserve Board announced it has completed the joint findings with the Office of the Comptroller of the Currency required for the OCC to approve Morgan Stanley Bank, N.A.'s request for an exemption under Section 23A of the Federal Reserve...
Federal Reserve Board Releases Annual Audited Financial Statements
The Federal Reserve Board published its audited financial statements for 2025, covering the 12 Reserve Banks, the Board itself, and a limited‑liability company linked to the COVID‑19 response. An independent accounting firm issued an unqualified opinion, confirming no material misstatements...
Federal Reserve Issues FOMC Statement
The Federal Reserve’s March 18 FOMC statement kept the federal funds rate target range at 3.5 percent to 3.75 percent, pausing further hikes. The Committee noted solid economic expansion, modest job gains and a stable unemployment rate, while inflation remains somewhat elevated...
Federal Reserve Board Issues Enforcement Actions with Former Employee of Equity Bank and Former Employee of First State Bank of...
The Federal Reserve Board issued two consent prohibition orders on March 13, 2026, targeting former employees of regional banks. Cassandra Grayson, ex‑employee of Equity Bank in Andover, Kansas, was barred for embezzling bank funds. Sandra Adams, former staff at First...
Federal Reserve Board Announces Approval of Notice by CBS Banc-Corp.
On March 9, 2026, the Federal Reserve Board approved CBS Banc‑Corp’s notice to acquire TAG Bancshares Inc., which will also bring Citizens Bank & Trust, Inc. under its control. The transaction expands CBS Banc’s footprint from Alabama into Georgia, adding...
Agencies Clarify the Capital Treatment of Tokenized Securities
On March 5, 2026 the FDIC, Federal Reserve Board and OCC released a joint FAQ clarifying the capital treatment of tokenized securities. The agencies state that eligible tokenized securities should generally receive the same capital treatment as their non‑tokenized counterparts, emphasizing that...