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The Federal Reserve terminated a 2016 agreement with the Industrial Bank of Korea and its New York branch for processing more than $1 billion in sanction-violating transactions.
The Federal Reserve Board of Governors said it only needs to disclose records about its decision making process, but Custodia says the central bank is playing by its own rules.
Federal Reserve Vice Chair for Supervision Michael Barr said his 'holistic' review of capital standards is still underway, but noted the benefits of stronger requirements in a speech Thursday.
Austan Goolsbee, a former economic advisor to the Obama White House, will take over as the president of the Federal Reserve Bank of Chicago when its current chief Charles Evans exits in January under
The Federal Reserve on Friday proposed new guidance for the country’s biggest banks in managing climate-related financial risks, a step proponents say is needed to prepare for climate change but that opponents say constitutes unwarranted regulatory micromanaging.