Recently sworn in Federal Reserve Board Vice Chair for Supervision Michael S. Barr highlighted the need to "build" and not just "maintain" safe and fair financial markets.
News & Insights
The Federal Reserve Board revised its testing strategy, backout strategy and other details regarding the implementation of the ISO® 20022 message format for the FedNow℠ interbank settlement service. The "single-day" implementation strategy will be on March 10, 2025.
Michael S. Barr was sworn into office as Vice Chair for Supervision for the Board of Governors of the Federal Reserve System.
The Federal Reserve Board proposed rules to implement the Adjustable Interest Rate Act. The proposed rules would establish benchmark replacements for contracts that reference certain tenors of U.S. dollar LIBOR.
Federal Reserve Board Vice Chair Lael Brainard called for strong regulatory guardrails to enable digital asset market participants to "build a resilient digital native financial infrastructure."