NY Fed | Circulars http://newyorkfed.org/rss/index.html The latest circulars http://www.newyorkfed.org/termsofuse.html Agencies Issue Proposed Rules on Risk-Based Pricing Notices http://www.newyorkfed.org/banking/circulars/11953.html The Federal Reserve Board and the Federal Trade Commission have announced proposed regulations that generally would require a creditor to provide a consumer with a risk-based pricing notice when, based in whole or in part on the consumer's credit report, the creditor offers or provides credit to the consumer on terms less favorable than the terms it offers or provides to other consumers. 2008-05-08T15:17:40-4:00 en Agencies Issue Proposed Rules on Risk-Based Pricing Notices 2008-05-08 NYFed Agencies Issue Proposed Rules on Risk-Based Pricing Notices http://www.newyorkfed.org/banking/circulars/11953.html The Federal Reserve Board and the Federal Trade Commission have announced proposed regulations that generally would require a creditor to provide a consumer with a risk-based pricing notice when, based in whole or in part on the consumer's credit report, the creditor offers or provides credit to the consumer on terms less favorable than the terms it offers or provides to other consumers. Board Proposes Rules to Prohibit Unfair Practices Regarding Credit Cards and Overdraft Services http://www.newyorkfed.org/banking/circulars/11952.html The Federal Reserve Board has proposed rules to prohibit unfair practices regarding credit cards and overdraft services that would, among other provisions, protect consumers from unexpected increases in the rate charged on pre-existing credit card balances. 2008-05-02T16:07:08-4:00 en Board Proposes Rules to Prohibit Unfair Practices Regarding Credit Cards and Overdraft Services 2008-05-02 NYFed Board Proposes Rules to Prohibit Unfair Practices Regarding Credit Cards and Overdraft Services http://www.newyorkfed.org/banking/circulars/11952.html The Federal Reserve Board has proposed rules to prohibit unfair practices regarding credit cards and overdraft services that would, among other provisions, protect consumers from unexpected increases in the rate charged on pre-existing credit card balances. Federal Reserve and Other Central Banks Announce Expansion of Liquidity Measures http://www.newyorkfed.org/banking/circulars/11951.html Central banks have continued to work together and to consult regularly on liquidity conditions in financial markets. In view of the persistent liquidity pressures in some term funding markets, the European Central Bank (ECB), the Federal Reserve and the Swiss National Bank (SNB) have announced an expansion of their liquidity measures. 2008-05-02T10:05:34-4:00 en Federal Reserve and Other Central Banks Announce Expansion of Liquidity Measures 2008-05-02 NYFed Federal Reserve and Other Central Banks Announce Expansion of Liquidity Measures http://www.newyorkfed.org/banking/circulars/11951.html Central banks have continued to work together and to consult regularly on liquidity conditions in financial markets. In view of the persistent liquidity pressures in some term funding markets, the European Central Bank (ECB), the Federal Reserve and the Swiss National Bank (SNB) have announced an expansion of their liquidity measures. Fed Funds Target Rate Lowered by 25 Basis Points to 2 Percent; Discount Rate Lowered by 25 Basis Points to 2.25 Percent http://newyorkfed.org/banking/circulars/11950.html Fed Funds Target Rate Lowered by 25 Basis Points to 2 Percent; Discount Rate Lowered by 25 Basis Points to 2.25 Percent 2008-04-30T15:14:53-4:00 en Fed Funds Target Rate Lowered by 25 Basis Points to 2 Percent; Discount Rate Lowered by 25 Basis Points to 2.25 Percent 2008-04-30 NYFed Fed Funds Target Rate Lowered by 25 Basis Points to 2 Percent; Discount Rate Lowered by 25 Basis Points to 2.25 Percent http://newyorkfed.org/banking/circulars/11950.html Fed Funds Target Rate Lowered by 25 Basis Points to 2 Percent; Discount Rate Lowered by 25 Basis Points to 2.25 Percent Deadline Extended for Requests to Testify at Public Meetings on Proposed Acquisition of Countrywide by Bank of America http://www.newyorkfed.org/banking/circulars/11949.html The Federal Reserve Board has extended the deadline for the submission of requests to testify at public meetings to be held next month in Los Angeles, California, and Chicago, Illinois, on the notice by Bank of America Corporation to acquire Countrywide Financial Corporation to April 15, 2008. 2008-04-10T10:21:28-4:00 en Deadline Extended for Requests to Testify at Public Meetings on Proposed Acquisition of Countrywide by Bank of America 2008-04-10 NYFed Deadline Extended for Requests to Testify at Public Meetings on Proposed Acquisition of Countrywide by Bank of America http://www.newyorkfed.org/banking/circulars/11949.html The Federal Reserve Board has extended the deadline for the submission of requests to testify at public meetings to be held next month in Los Angeles, California, and Chicago, Illinois, on the notice by Bank of America Corporation to acquire Countrywide Financial Corporation to April 15, 2008. Federal Reserve Banks Announce Restructuring Schedule Changes http://www.newyorkfed.org/banking/circulars/11948.html The Federal Reserve Banks have announced modifications to the schedule for previously announced check processing infrastructure changes as consumers and businesses continue the shift from using paper checks toward electronic payments and as financial institutions rapidly adopt electronic check processing. 2008-03-31T16:58:53-4:00 en Federal Reserve Banks Announce Restructuring Schedule Changes 2008-03-31 NYFed Federal Reserve Banks Announce Restructuring Schedule Changes http://www.newyorkfed.org/banking/circulars/11948.html The Federal Reserve Banks have announced modifications to the schedule for previously announced check processing infrastructure changes as consumers and businesses continue the shift from using paper checks toward electronic payments and as financial institutions rapidly adopt electronic check processing. Federal Reserve to Conduct Two Auctions of 28-day Credit Through its Term Auction Facility in April http://www.newyorkfed.org/banking/circulars/11947.html The Federal Reserve will conduct two auctions of 28-day credit through its Term Auction Facility (TAF) in April. It will offer $50 billion in an auction to be held on Monday, April 7 and $50 billion in an auction to be held on Monday, April 21. 2008-03-28T15:59:14-4:00 en Federal Reserve to Conduct Two Auctions of 28-day Credit Through its Term Auction Facility in April 2008-03-28 NYFed Federal Reserve to Conduct Two Auctions of 28-day Credit Through its Term Auction Facility in April http://www.newyorkfed.org/banking/circulars/11947.html The Federal Reserve will conduct two auctions of 28-day credit through its Term Auction Facility (TAF) in April. It will offer $50 billion in an auction to be held on Monday, April 7 and $50 billion in an auction to be held on Monday, April 21. Public Meetings Announced on Proposed Acquisition of Countrywide by Bank of America http://www.newyorkfed.org/banking/circulars/11946.html The Federal Reserve Board has announced that public meetings will be held next month in Los Angeles, California, and Chicago, Illinois, on the notice by Bank of America Corporation to acquire Countrywide Financial Corporation. 2008-03-28T13:30:34-4:00 en Public Meetings Announced on Proposed Acquisition of Countrywide by Bank of America 2008-03-28 NYFed Public Meetings Announced on Proposed Acquisition of Countrywide by Bank of America http://www.newyorkfed.org/banking/circulars/11946.html The Federal Reserve Board has announced that public meetings will be held next month in Los Angeles, California, and Chicago, Illinois, on the notice by Bank of America Corporation to acquire Countrywide Financial Corporation. Operating Circular No. 4 Revised http://www.newyorkfed.org/banking/circulars/11945.html As previously announced in FedFlash, the Federal Reserve Banks recently amended Operating Circular 4, Automated Clearing House Items, on two occasions. 2008-03-26T07:21:08-4:00 en Operating Circular No. 4 Revised 2008-03-25 NYFed Operating Circular No. 4 Revised http://www.newyorkfed.org/banking/circulars/11945.html As previously announced in FedFlash, the Federal Reserve Banks recently amended Operating Circular 4, Automated Clearing House Items, on two occasions. Federal Reserve Study Reveals Biggest Share of Checks Are Consumer to Business http://www.newyorkfed.org/banking/circulars/11944.html The Federal Reserve's 2007 study of the composition of the check market shows that nearly 50 percent of checks written are consumer-to-business checks. The Check Sample Study reports on the composition of the check market based on responses from nine large financial institutions that together account for about one quarter of total U.S. paid check volume. 2008-03-25T14:54:09-4:00 en Federal Reserve Study Reveals Biggest Share of Checks Are Consumer to Business 2008-03-25 NYFed Federal Reserve Study Reveals Biggest Share of Checks Are Consumer to Business http://www.newyorkfed.org/banking/circulars/11944.html The Federal Reserve's 2007 study of the composition of the check market shows that nearly 50 percent of checks written are consumer-to-business checks. The Check Sample Study reports on the composition of the check market based on responses from nine large financial institutions that together account for about one quarter of total U.S. paid check volume. Agencies Propose Revisions to Interagency Questions and Answers Regarding Flood Insurance http://www.newyorkfed.org/banking/circulars/11943.html The federal bank, thrift, credit union and Farm Credit System regulatory agencies have requested public comment on new and revised interagency questions and answers regarding flood insurance. 2008-03-21T11:49:57-4:00 en Agencies Propose Revisions to Interagency Questions and Answers Regarding Flood Insurance 2008-03-21 NYFed Agencies Propose Revisions to Interagency Questions and Answers Regarding Flood Insurance http://www.newyorkfed.org/banking/circulars/11943.html The federal bank, thrift, credit union and Farm Credit System regulatory agencies have requested public comment on new and revised interagency questions and answers regarding flood insurance. Fed Funds Target Rate Lowered by 75 Basis Points to 2.25 Percent http://www.newyorkfed.org/banking/circulars/11942.html The Federal Open Market Committee decided today to lower its target for the federal funds rate 75 basis points to 2.25 percent. Recent information indicates that the outlook for economic activity has weakened further. Growth in consumer spending has slowed and labor markets have softened. Financial markets remain under considerable stress, and the tightening of credit conditions and the deepening of the housing contraction are likely to weigh on economic growth over the next few quarters. 2008-03-18T14:36:39-4:00 en 2008-03-18 NYFed Fed Funds Target Rate Lowered by 75 Basis Points to 2.25 Percent http://www.newyorkfed.org/banking/circulars/11942.html The Federal Open Market Committee decided today to lower its target for the federal funds rate 75 basis points to 2.25 percent. Recent information indicates that the outlook for economic activity has weakened further. Growth in consumer spending has slowed and labor markets have softened. Financial markets remain under considerable stress, and the tightening of credit conditions and the deepening of the housing contraction are likely to weigh on economic growth over the next few quarters. Discount Rate Decreased by 25 Basis Points http://www.newyorkfed.org/banking/circulars/11941.html The Federal Reserve Board unanimously approved a request by the Federal Reserve Bank of New York to decrease the primary credit rate from 3.50 percent to 3.25 percent, effective immediately. 2008-03-17T10:01:11-4:00 en Discount Rate Decreased by 25 Basis Points 2008-03-17 NYFed Discount Rate Decreased by 25 Basis Points http://www.newyorkfed.org/banking/circulars/11941.html The Federal Reserve Board unanimously approved a request by the Federal Reserve Bank of New York to decrease the primary credit rate from 3.50 percent to 3.25 percent, effective immediately. Federal Reserve Consumer Help Center Announces Spanish-Language Website http://www.newyorkfed.org/banking/circulars/11940.html Federal Reserve Consumer Help, a resource center for consumers experiencing problems with a bank or other financial institution, now offers a Spanish-language version of its website. 2008-03-07T14:03:51-4:00 en Federal Reserve Consumer Help Center Announces Spanish-Language Website 2008-03-07 NYFed Federal Reserve Consumer Help Center Announces Spanish-Language Website http://www.newyorkfed.org/banking/circulars/11940.html Federal Reserve Consumer Help, a resource center for consumers experiencing problems with a bank or other financial institution, now offers a Spanish-language version of its website. Board Announces Initiatives to Address Liquidity Pressures in Term Funding Markets http://www.newyorkfed.org/banking/circulars/11939.html The Federal Reserve has announced two initiatives to address heightened liquidity pressures in term funding markets. 2008-03-07T11:32:13-4:00 en Board Announces Initiatives to Address Liquidity Pressures in Term Funding Markets 2008-03-07 NYFed Board Announces Initiatives to Address Liquidity Pressures in Term Funding Markets http://www.newyorkfed.org/banking/circulars/11939.html The Federal Reserve has announced two initiatives to address heightened liquidity pressures in term funding markets.