The vast majority of U.S. small businesses took a hit to their revenue last year because of the coronavirus pandemic, with minority-owned businesses struggling the most and worrying more about accessing credit, according to a Federal Reserve survey released on …
U.S. life insurers face questions about their ability to cover a sudden rush of claims after the Federal Reserve highlighted liquidity and leverage risks in a report this week. Issues the Fed focused on are not new: Life insurers have …
The U.S. Federal Reserve for the first time called out climate change among risks enumerated in its biannual financial stability report, and warned about the potential for abrupt changes in asset values in response to a warming planet. “Acute hazards, …
The Federal Reserve expects household finances and business balance sheets to suffer “persistent fragilities” as a result of the shock to economic activity arising from the coronavirus pandemic, the central bank said in a report to Congress on Friday. In …
The most important data for the U.S. economy right now are the “medical metrics” around the coronavirus pandemic, Federal Reserve Chairman Jerome Powell said Sunday night in broadcast remarks where he outlined the likely need for three to six more …
The U.S. Federal Reserve is wary of giving “fintech” firms such as OnDeck Capital Inc. or Kabbage Inc. access to the country’s financial infrastructure, putting the central bank at odds with other regulators looking to bring them into the fold. …
More rules may not be the best answer to protecting the financial system against cyber attacks, a Federal Reserve official said. “I don’t think the solution to the cybersecurity problem rests in regulation,” Arthur Lindo, senior associate director of the …
The U.S. Federal Reserve has hired a former state insurance commissioner to help it oversee non-bank financial firms that a council of regulators identified for tougher scrutiny last year. Thomas Sullivan, who led the Connecticut Insurance Department from 2007 through …
Federal Reserve Vice Chairman Janet Yellen said the central bank will “carefully consider” how to apply new regulatory standards to insurance companies that fall under the central bank’s supervision. The Dodd-Frank Act gives regulators the authority to place insurance companies …
