Federal Reserve Board Governor Michelle W. Bowman criticized proposed new capital requirements for banks with more than $100 billion in assets, arguing that the increases were not supported by facts and analysis and could lead to reduced credit availability and increased cost of credit.
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The FDIC proposed a rule change that would reduce the impact of deposit insurance assessments on insured depository institutions participating in the Small Business Administration's Paycheck Protection Program and certain Federal Reserve Board lending facilities.
The FDIC extended the de novo period for newly organized, state nonmember institutions from three to seven years for examinations, and issued a supplement to its November 2014 guidance related to the Statement of Policy on Applications for Deposit Insurance.