Federal Reserve Bulletin

A quarterly report written by the Board of Governors of the Federal Reserve system. Articles provide updates and analysis of economic developments, discuss bank regulatory issues, and present new data. Issues contain a quarterly report of the banking indu

Articles from Vol. 91, No. 1, Winter

Appointment of Richard W. Fisher as President, Federal Reserve Bank of Dallas
Richard W. Fisher will become president of the Federal Reserve Bank of Dallas, effective April 4, 2005. The appointment of Mr. Fisher was announced on December 21, 2004, by Ray L. Hunt, chairman of the Bank's Board of Directors. Mr. Fisher will succeed...
Appointments of New Members and Designation of the Chair and Vice Chair of the Consumer Advisory Council
The Federal Reserve Board named on January 7, 2005, eleven new members to its Consumer Advisory Council for three-year terms and designated a new chair and vice chair of the council for 2005. The council advises the Board on the exercise of its...
Changes in Board Staff
Normand Bernard, special assistant to the Board, retired on November 3, 2004, after more than forty-two years of service, including more than thirty years as a member of the Board's official staff. The Board of Governors approved the following officer...
Enforcement Actions
The Federal Reserve Board announced on November 15, 2004, the issuance of a consent order of assessment of a civil money penalty against the Cumberland Bank, Franklin, Tennessee, a state member bank. Cumberland Bank, without admitting to any allegations,...
Fair Value Accounting
Adapted from remarks by Susan Schmidt Bies, Member, Board of Governors of the Federal Reserve System, to the International Association of Credit Portfolio Managers General Meeting, November 18, 2004. Good morning. I appreciate the opportunity to...
Federal Open Market Committee Statements
The Federal Open Market Committee decided on November 10, 2004, to raise its target for the federal funds rate 25 basis points, to 2 percent. The Committee believes that, even after this action, the stance of monetary policy remains accommodative...
Federal Reserve Studies Confirm Electronic Payments Exceed Check Payments
The Financial Services Policy Committee announced on December 6, 2004, that surveys conducted by the Federal Reserve confirm that electronic payment transactions in the United States have exceeded check payments for the first time. The number of electronic...
Fee Schedules for Federal Reserve Priced Services for 2005
The Federal Reserve Board approved fee schedules on November 4, 2004, for Federal Reserve Bank payment services for depository institutions (priced services), effective January 3, 2005. The Reserve Banks project that they will recover 100.1 percent...
Indexes of the Foreign Exchange Value of the Dollar
At the end of 1998, the staff of the Federal Reserve Board introduced a new set of indexes of the foreign exchange value of the U.S. dollar. (1) The staff made the changeover, from indexes that had been used since the late 1970s, for two reasons. First,...
Industrial Production and Capacity Utilization: The 2004 Annual Revision
On December 22, 2004, the Board of Governors of the Federal Reserve issued revisions to its index of industrial production (IP) and the related measures of capacity and capacity utilization for the period from January 1972 to November 2004. Overall,...
November 2004 Update to the Commercial Bank Examination Manual
The November 2004 update to the Commercial Bank Examination Manual has been published (supplement no. 22). The new supplement includes supervisory and examination guidance on the following subjects: 1. The May 2004 Recommended Practices Document...
Orders Issued under Bank Holding Company Act
Orders Issued Under Section 3 of the Bank Holding Company Act Barclays PLC London, England Barclays Bank PLC London, England Barclays Group US Inc. Wilmington, Delaware Order Approving the Formation of Bank Holding Companies and...
Orders Issued under Federal Reserve Act
RBC Centura Bank Rocky Mount, North Carolina Order Approving Establishment of a Branch RBC Centura Bank ("Bank"), a state member bank, has given notice under section 9 of the Federal Reserve Act ("Act") (1) of its intent to establish a branch...
Revised Payments System Risk Policy
The Federal Reserve Board announced on November 26, 2004, the approval of proposed revisions to its Policy on Payments System Risk (PSR Policy) addressing risk management in payments and securities settlement systems. The revisions update the policy...