Tag Archives: Federal Reserve

Non-revolving consumer credit outstanding grew at a seasonally adjusted annual rate of 7.0 percent during May (about $174 billion), which was about 0.8 percentage points faster than the rate at which it grew in April.

On Wednesday, July 15, the House Financial Services Committee will receive the testimony of Fed Chair Janet Yellen in a full Committee hearing titled "Monetary Policy and the State of the Economy." Chair Yellen will update the Committee on the progress of the economy toward meeting the four benchmarks for the economy as set by the Full Employment and Balanced Growth Act (Humphrey Hawkins) Act of 1978.

Rosengren said slack in the labor market, or excess supply, may exist despite the recent decline of the unemployment rate to 5.3 percent, which may be a reason why the inflation rate remains subdued. The employment-to-population ratio may be evidence of slack in the labor market, though some of the slack can be attributed to changes in demographics, according to the Boston Fed.

A capital surcharge proposed by the Fed in December for eight U.S. banks that the Financial Stability Oversight Council designated as global systemically important banks is aimed at building additional resilience and lessening the chances of an institution's failure in proportion to risks the institution poses to the broader U.S. economy.

The Federal Reserve, the Office of the Comptroller of the Currency (OCC), and the Federal Deposit Insurance Corporation (FDIC) have made available their annual list of non-metro areas where revitalization or stabilization activities will receive consideration as community development under the Community Reinvestment Act (CRA).

“In this scenario, economic factors in the United States reflect a contracting economy marked with rising unemployment, widening credit spreads, low treasury yields, declining asset prices and near-term inflationary pressures brought about by a considerable rise in the price of oil,” the Association reported.

Section 622 of Dodd-Frank, implemented by the Board's Regulation XX, prohibits a merger between two financial companies or one financial company from acquiring another if the resulting merged company's liabilities exceed 10 percent of the aggregate financial sector liabilities.

Even though the Fed's approach to stress testing has evolved in the last six years, some elements of the original SCAP remain in the stress tests conducted by the Fed today, such as supervisory stress scenarios applicable to all firms; defined consequences for firms that are deemed to be insufficiently capitalized; and public disclosure of the stress test results, according to Fischer.

Americans appear to be keeping borrowing to a minimum and evading debt as the report noted that household borrowing was at its lowest rate since the end of 2013. Household debt increased at an annual rate of 2.2 percent in the first quarter of 2015 totaling $13.6 trillion.

Garrett and Mike Capuano (D-Massachusetts) introduced H.R. 2625, also known as the Bailout Prevention Act (BPA) of 2015 in response to the Fed's perceived failure to make any meaningful changes with regards to implementing certain provisions of Dodd-Frank that would limit the Fed's broad powers.