Latest Federal Reserve Board News: Finextra Research

Fed chair Powell opens up digital dollar debate

The US Federal Reserve is inching ahead with its CBDC research, promising a discussion paper this summer as it seeks to secure a "better understanding" of the opportunities and risks associated with a digital dollar.

21 May 2021

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Central bankers split on CBDC future

The debate over the value of CBDCs continues to simmer, with central bankers on either side of the pond weighing in with very different opinions.

14 May 2021

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Fed payments system knocked out

US Federal Reserve systems used by financial institutions to execute payments went down for several hours on Wednesday.

24 February 2021

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Fed narrows timeframe for launch of real-time payments platform

The Federal reserve has cut the launch timetable for its new real-time payment system FedNow by a full year to 2023.

04 February 2021

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EBAday 2020: It’s do-or-die time for real-time payments

Launching into the session ‘Reaping the potential of real-time payments’, Dean Wallace, director of real-time payments, digital and request to pay, ACI Worldwide argues that the expectations of the market will only continue to evolve, pressuring financial institutions to finalise their real-time payments (RTP) strategy.

25 November 2020

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Fed seeks pilot participants for FedNow instant payments

The Federal Reserve is seeking expressions of interest from financial institutions and vendors to participate in a pilot programme to support development, testing and adoption of the FedNow instant payment service.

14 October 2020

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Fed partners MIT on 'hypothetical' digital currency

The Federal Reserve Bank of Boston is working with the Massachusetts Institute of Technology (MIT) to develop a "hypothetical" digital currency platform.

18 August 2020

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Fed instant payments project full steam ahead

The Federal Reserve is working hard to get its FedNow real-time payment and settlement service up and running as quickly as possible, according to governor Lael Brainard, who says the Covid-19 fallout has highlighted the importance of ensuring people have immediate access to funds.

07 August 2020

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Federal Reserve kicks Fedwire’s ISO 20022 can down the road

The Federal Reserve has announced it will not implement Phase 1 of the Fedwire Funds Services migration to ISO 20022 during 2020 or 2021. It confirms that it does not have any other message format changes planned through 2021.

03 June 2020

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ING economist: The US has most to lose in war of digital currencies

The US dollar's position as the unrivalled global currency means it has the most at stake should central banks begin to issue their own digital currencies, according to ING economist Carlos Cocuzzo.

05 March 2020

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Bank cyberattack could hit whole financial system - NY Fed research

A cyberattack on a major US bank could have significant spillovers to other lenders, with serious implications for the whole financial system, according to research from the Federal Reserve Bank of New York.

21 January 2020

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Federal Reserve to host 'fintech innovation office hours'

The Federal Reserve Board is to open its doors to banks and startups in a series of 'fintech innovation office hours' throughout 2020.

19 December 2019

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