A cryptocurrency exchange settled New York State Department of Financial Services charges for failing to establish a compliance program to satisfy (i) New York banking law and (ii) NYDFS virtual currency, money transmitter, transaction monitoring and cybersecurity regulations.
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The Federal Reserve Board revised the interest rate paid on balances held by Federal Reserve Banks or eligible institutions.
Treasury announced that, after the necessary consultation with the FDIC and the SEC, it is providing a retail broker-dealer with a conditional exemption from certain Dodd-Frank recordkeeping requirements for certain of its qualified financial contracts.
The Federal Reserve Board adopted amendments to the reserve requirements for depository institutions to (i) create a new single "interest on reserve balances" rate and (ii) simplify the formula for payment of interest on balances.
A Federal Reserve Board final rule to "lower reserve requirement ratios on transaction accounts maintained at depository institutions to zero percent" was published in the Federal Register.