Latest Federal Reserve Board News: Finextra Research

BIS and NY Fed test policy implications of future tokenised market

The Federal Reserve Bank of New York and the Bank for International Settlements (BIS) have published a joint research study that explored how central banks could continue to implement monetary policy operations in tokenised wholesale financial markets.

15 May 2025

/wholesale

Nacha: 80% of banks would reject clients if they processed cryptocurrency

Smarter Faster Payments in New Orleans saw representatives from the Federal Reserve Bank, Citizens, EPCOR and Nacha come together to share their personal views on the potential of blockchain for cross-border transactions and financial inclusion - amid a need for better understanding of digital assets, as well as concerns around anonymity and regulatory uncertainty.

30 April 2025

/wholesale

Fed working group suggests scams information sharing network

A Federal Reserve-backed working group has recommended that the US payments industry set up an independent information exchange framework to provide a single source for scam intelligence across payment rails.

19 March 2025

/wholesale

Fedwire Funds Service ISO 20022 migration delayed until July

Federal Reserve Financial Services (FRFS) has pushed back the roll out of ISO 20022 for the Fedwire Funds Service from March to July.

17 February 2025

/wholesale

Fed governor Waller cool on interlinking fast payment systems

Federal Reserve governor Christopher Waller has cautioned against the clamour to interlink national fast payment systems, insisting that the US is focused on building up its FedNow network domestically.

02 September 2024

/wholesale

US regulators seek info on bank-fintech relationships

US banking regulators have issued a warning on the potential risks associated with third-party deposit arrangements and made a call for more information on the relationships between lenders and fintechs.

26 July 2024

/wholesale

Citi fined $136m for lack of progress on fixing risk management flaws

Citi has been fined $135.6 million by US regulators for failing to make enough progress on fixing risk management and data governance deficiencies four years on from a cease and desist order.

12 July 2024

/wholesale

Crypto bank Silvergate pays $63m to settle regulator charges

The parent company of crypto-focused bank Silvergate has agreed to pay $63 million to settle US regulatory charges about its anti-money laundering programme and the losses sustained during the collapse of FTX.

02 July 2024

/wholesale

Fed proposes expanded operating hours for FedWire and NSS

The US Federal Reserve Board is seeking feedback on a proposal to start operating its two large payments services seven days a week.

06 May 2024

/wholesale

Central banks explore tokenisation of cross-border payments

A collection of seven central banks are working with the Bank for International Settlements to explore tokenisation of cross-border payments.

04 April 2024

/wholesale

Fed-backed project validates exchange framework for e-remittance information

Having demonstrated the operationally feasibility of an exchange framework to deliver e-remittance information, the Business Payments Coalition (BPC) and Federal Reserve are gearing up for a pilot.

05 September 2023

/wholesale

Fed warns Goldman over fintech unit risk - FT

A division of Goldman Sachs' transaction banking business (TxB) has stopped taking on riskier fintech clients after receiving a warning from the US Federal Reserve, according to the Financial Times.

01 September 2023

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