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Home | Tag Archives: Federal Reserve

Tag Archives: Federal Reserve

Fed Requests Changes in Bank of America’s Capital Plan

BankofAmerica

The Federal Reserve has instructed Bank of America to revise its capital plan by September 30 to address weaknesses in the bank's capital planning process, according a press release on Wednesday. Bank of America stated in a press release on Wednesday that the company's Board of Directors authorized a $4 billion common stock repurchase program and that the Fed had completed its 2015 Comprehensive Capital Analysis and Review and informed the Charlotte, North Carolina-based megabank that the Fed did not object to the bank's capital plan for the period of Q2 2015 through Q2 2016. Under that plan, the common stock dividend rate would be maintained at 5 cents per share per quarter.

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Economic Growth Slows as GDP Expansion for Q4 Falls Short of Economists’ Predictions

cutting-money

According to BEA, the slowdown mostly came from a rise in imports coupled with a decline in exports, a downturn in government spending, and decelerations in nonresidential fixed investment. Those weaknesses were offset by an upturn in private inventory investment and a pickup in consumer spending as falling gas prices left Americans with more discretionary income.

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New ‘Audit the Fed’ Bill Calls for Full Transparency from Central Bank

federal-reserve

U.S. Senator Rand Paul (R-Kentucky) has reintroduced bipartisan legislation that calls for more transparency from the U.S. Federal Reserve Board of Governors, according to an announcement on Paul's website. The Federal Reserve Transparency Act of 2015, or S. 264, commonly known as Audit the Fed, calls for elimination of the restrictions placed on the Government Accountability Office (GAO)'s audits of the Fed. The bill also mandates that several divisions of the Fed be subject to Congressional oversight, including credit facilities, securities purchases, and quantitative easing activities.

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