WASHINGTON, July 20 (Reuters) – The Federal Reserve will
meet on Monday to adopt a new rule for the eight largest U.S.
banks to hold more equity capital, amid fears on Wall Street
that the measure may make it less profitable.
The rule was largely similar to when it was proposed in
December, when the U.S. central bank said the banks would face a
surcharge of between 1 percent and 4.5 percent of their assets.
WASHINGTON (Reuters) – Federal Reserve Chair Janet Yellen said on Thursday she was open to raising a threshold for determining a bank’s systemic importance and indicated that U.S. lenders had made progress in their submissions of so-called living will plans this month.
The tacit nod of approval from the Fed chief is a good sign for Wall Street, as a rejection can be costly, though Yellen also made clear the U.S. central bank will not hesitate to reject certain plans when it completes its assessment.
WASHINGTON, July 16 (Reuters) – Federal Reserve Chair Janet
Yellen said on Thursday she was open to raising a threshold for
determining a bank’s systemic importance and indicated that U.S.
lenders had made progress in their submissions of so-called
living will plans this month.
The tacit nod of approval from the Fed chief is a good sign
for Wall Street, as a rejection can be costly, though Yellen
also made clear the U.S. central bank will not hesitate to
reject certain plans when it completes its assessment.
WASHINGTON, July 15 (Reuters) – Federal Reserve Chair Janet
Yellen on Wednesday resisted calls for more congressional
oversight and intervention into the U.S. central bank, as
members of a House of Representatives panel criticized her and
other policymakers for failing to be more accountable.
One Republican lawmaker also continued his attack on the
Fed’s response to a 2012 information leak, saying Yellen and the
central bank had failed to properly respond.
WASHINGTON (Reuters) – Federal Reserve Chair Janet Yellen said on Wednesday the U.S. central bank remains on track to raise interest rates this year, with labor markets expected to steadily improve and turmoil abroad unlikely to throw the U.S. economy off track.
“If the economy evolves as we expect, economic conditions likely would make it appropriate at some point this year to raise the federal funds rate,” Yellen said in testimony prepared for the U.S. House of Representatives Financial Services Committee, affirming the view of a central bank prepared to gradually raise rates after more than six years at a near-zero level.
WASHINGTON/SAN FRANCISCO (Reuters) – As political pressure mounted on the Federal Reserve this spring in the form of a regulation relief bill and a probe into an alleged information leak, Fed Chair Janet Yellen kicked her congressional outreach efforts into high gear.
Yellen connected with more individual lawmakers in May than in any other month since she took on the Fed’s top role in February 2014, according to her most recent calendar disclosure, obtained through a freedom of information request.
WASHINGTON/NEW YORK (Reuters) – Federal Reserve officials needed to see more signs of a strengthening U.S. economy before raising interest rates, according to minutes of a June Fed policy meeting, at which Greece’s debt crisis was cited as a serious concern.
The minutes from the June 16-17 meeting show how the central bank continues to grapple with its plan to raise interest rates later this year, in the wake of mixed economic data domestically and market turmoil gathering steam abroad. The minutes underscored the view that a Fed rate hike would likely have to wait until at least September.
NEW YORK/WASHINGTON (Reuters) – Efforts to fill top positions at some U.S. Federal Reserve regional branches are casting a spotlight on a decades-old process that critics say is opaque, favors insiders, and is ripe for reform.
Patrick Harker took the reins as president of the Philadelphia Fed this week, in an appointment that attracted scrutiny because he served on the committee of directors that interviewed other prospective candidates for the job he ultimately took.
WASHINGTON (Reuters) – The fuse may be lit for a Greek exit from the euro zone but the fallout in the United States is expected to be modest and not enough to throw the Federal Reserve’s likely September rate hike off course, said former Fed officials and outside analysts watching the latest turn in Greece’s crisis.
Major U.S. stock indexes were lower on Monday by a little more than a percentage point. Yields on Treasury bonds fell and the dollar rose against the euro, indicating the typical push into U.S. securities in times of overseas stress – but not to such an extent it would waylay the Fed.
WASHINGTON, June 26 (Reuters) – Federal Reserve Chair Janet
Yellen met with top executives from GE Capital prior to
the company’s move to shed financial assets, and she met with a
top Democrat who opposes legislation aimed at Fed reform, her
April calendar shows.
Yellen’s April calendar, released on Friday through a
freedom of information request, also included a gathering with
UBS Chairman Axel Weber and a meeting with European
Central Bank President Mario Draghi.