July 24 – The Electronic Payments Association President and CEO Janet O. Estep has been named as a member of the steering committee of the Federal Reserve’s Faster Payments Task Force.
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July 3 – Federal Reserve Chair Janet L. Yellen addressed monetary policy and financial stability at the 2014 Michel Camdessus Central Banking Lecture, International Monetary Fund, Washington, D.C. Below are her comments.
Aug 1 – Financial Services Committee Ranking Member Maxine Waters, joined by 37 of her fellow Democrats, delivered a letter urging President Obama to nominate Janet Yellen, current vice chairman of the Board of Governors of the Federal Reserve System, to replace Ben Bernanke as chairman of the Federal Reserve when his term expires.
October 21 – Federal Reserve Vice Chair Janet L. Yellen gave a presentation titled, “The Outlook for the U.S. Economy and Economic Policy” at the Annual Meeting of the Financial Management Association International. Her comments follow:
October 19 – NACHA —The Electronic Payments Association®, the trustee and rule maker of the ACH Network, has announced Treasury Software as its Preferred Partner for ACH enablement and integration. The Preferred Partner Program identifies leading providers and innovators that work with NACHA to better advocate for and educate the industry on technology and best practices in support of the ACH Network and ACH payments.
October 10 – NACHA —The Electronic Payments Association, the trustee and rule maker of the ACH Network, has recognized the work that the North American Banking Company and the Independent Community Bankers of America have done to create efficient, innovative services for financial institutions and their customers across the country. NACHA has long advocated for and supported innovation on the ACH Network that leverages the value of the Network’s ubiquity and reach. The “All Payments App” that the North American Banking Company and the Independent Community Bankers of America revealed as part of the Federal Reserve Faster Payments Task Force proposal process demonstrates how innovation continues on the ACH Network.
August 29 – The case for an increase in the federal funds rate has strengthened recent months, Federal Reserve Chair Janet Yellen believes. However, in a much-anticipated speech last Friday (Aug. 26) during the monetary policy symposium sponsored by the Federal Reserve Bank of Kansas City in Jackson Hole, Wyo., she offered no more clues as to when the Federal Open Market Committee will make the move. (more…)
The debate goes on over risk and concentration in TBTF banks.
By Bill Poquette
More than five years ago, the Dodd-Frank Act was passed requiring “orderly resolution” plans touted as assurance there would be no more taxpayer bailouts of huge banks long considered too big to fail. Yet, doubts linger. These doubts were refueled early this year when the newly named president of the Federal Reserve Bank of Minneapolis, Neel Kashkari, delivered a speech at the Brookings Institution in Washington, D.C., announcing a bank initiative to end too big to fail.
By KC Mathews
As I mentioned in part 1 of our economic forecast (March BankNews), I expect our economy to continue to grow at a slow and steady pace in 2016, due in part to the several tailwinds and a few headwinds.
February 19 – Douglas E. Johnston, Jr., banking and financial expert witness and economic analyst at Five Management, LLC, shares his unique perspective regarding the emergence of negative interest rates.