Search Results for keywords:"First Bank

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Search Results: keywords:"First Bank

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  • 2020-28755 — Regulation D: Reserve Requirements of Depository Institutions
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    Type:Proposed Rule
    Citation:86 FR 1303
    Reading Time:about 15 minutes

    The Board of Governors of the Federal Reserve System has proposed changes to Regulation D, which affects how banks manage reserve balances. They aim to simplify the process by removing separate rates for required and excess reserves and introducing a single rate called "interest on reserve balances." The proposed changes also include revising how interest is calculated on reserves and excess balance accounts. The Board is seeking public comments on these proposed amendments until March 9, 2021.

    Simple Explanation

    The government wants to change how banks earn interest when they keep money safely with the big bank in charge. They're making it simpler by having just one rule for paying interest instead of two, but they still need to figure out how this change will make everything fair and easy for all banks, big or small.

  • 2025-04940 — Corporation To Do Business Under Section 25A of the Federal Reserve Act
    Type:Notice
    Citation:90 FR 13487
    Reading Time:about a minute or two

    The Federal Reserve System has received applications from companies seeking approval to establish an Edge Corporation under Section 25A of the Federal Reserve Act. These applications are available for public inspection at the specified Federal Reserve Banks and on the Federal Reserve's website. Interested individuals can submit written comments on these applications, but should be aware that comments are subject to public disclosure. Comments must be submitted by April 8, 2025, either to the appropriate Reserve Bank or to the offices of the Board of Governors in Washington, DC.

    Simple Explanation

    The Federal Reserve is checking if some companies can follow special rules to do business, and everyone can read their applications online and say what they think about it. But they should be careful not to share secrets because everything they write can be seen by everyone.

  • 2021-02230 — Notice of Proposals To Engage in or To Acquire Companies Engaged in Permissible Nonbanking Activities
    Type:Notice
    Citation:86 FR 8013
    Reading Time:about a minute or two

    The Federal Reserve System announced that several companies have applied to either engage in new nonbanking activities or acquire companies involved in such activities, as permitted under the Bank Holding Company Act and Regulation Y. These activities can be carried out directly or through subsidiaries. The public can review the applications at designated Federal Reserve Banks or related online resources, and is invited to submit comments until February 18, 2021. An example of a company pursuing this is New Republic Partners, Inc. from North Carolina, which plans to start financial and investment advisory services through a wholly-owned subsidiary.

    Simple Explanation

    Some big companies want to do new stuff that banks can do, like helping people with money advice. The Federal Reserve is looking at their plans and is asking people to say what they think about these plans by February 18, 2021.

  • 2021-00092 — Notice of Proposals To Engage in or To Acquire Companies Engaged in Permissible Nonbanking Activities
    Type:Notice
    Citation:86 FR 1497
    Reading Time:about a minute or two

    The Federal Reserve System is announcing that certain companies have applied to engage in nonbanking activities as permitted under the Bank Holding Company Act and Regulation Y. Interested individuals can review the public sections of these applications at the Federal Reserve Banks and submit written comments about whether these proposals meet the necessary standards by February 8, 2021. For example, Commerce Bancshares, Inc. seeks to retain a mortgage company to engage in credit and loan services. The public can also request information through the Federal Reserve's website or by contacting specific Reserve Banks.

    Simple Explanation

    The Federal Reserve is letting people know that some companies want to do new types of banking activities that don’t involve typical banks. People can look at these requests and say what they think about them until February 8, 2021.

  • 2021-03048 — Notice of Proposals to Engage in or to Acquire Companies Engaged in Permissible Nonbanking Activities
    Type:Notice
    Citation:86 FR 9505
    Reading Time:about a minute or two

    The Federal Reserve System has announced that certain companies have indicated their plans, under the Bank Holding Company Act, to engage in nonbanking activities or to acquire nonbanking companies. These activities are permissible and related to banking, as outlined in Regulation Y. Public portions of these applications can be reviewed at the specified Federal Reserve Banks and comments from the public are encouraged, to be submitted by March 3, 2021. One noted application involves Hyperion Bancshares, Inc., aiming to acquire a mortgage company and engage in credit activities.

    Simple Explanation

    Some banks want to do more business with other companies that aren't banks, and this is mostly okay to do. People can look at what the banks are planning and tell the Federal Reserve what they think by March 3rd, 2021.

  • 2020-29034 — Notice of Proposals To Engage in or To Acquire Companies Engaged in Permissible Nonbanking Activities
    Type:Notice
    Citation:86 FR 98
    Reading Time:about a minute or two

    The Federal Reserve System published a notice regarding companies planning to engage in permissible nonbanking activities. These activities are under section 4 of the Bank Holding Company Act and Regulation Y. The notice includes information on how the public can view the applications and submit comments. Specifically, it mentions that the Caisse Fédérale de Crédit Mutuel and its subsidiaries intend to engage in financial and investment advisory activities in the United States through their subsidiary, Transatlantique Private Wealth LLC.

    Simple Explanation

    The Federal Reserve System shared a notice about some companies wanting to offer money advice services in the U.S. It mentions a particular company called Transatlantique Private Wealth LLC, which plans to do this through its parent, Caisse Fédérale de Crédit Mutuel.

  • 2025-01033 — Notice of Proposals To Engage in or To Acquire Companies Engaged in Permissible Nonbanking Activities
    Type:Notice
    Citation:90 FR 4742
    Reading Time:about a minute or two

    The Federal Reserve System has released a notice regarding certain companies planning to engage in or acquire companies involved in nonbanking activities, as permitted under the Bank Holding Company Act and Regulation Y. The activities are considered closely related to banking and will be conducted across the United States. The public can inspect the applications at certain Federal Reserve Banks or contact the Board's Freedom of Information Office for expedited requests. Comments from the public are invited and must be submitted by January 31, 2025, to the appropriate offices of the Federal Reserve System.

    Simple Explanation

    The Federal Reserve System is letting people know about some companies that want to start doing things like banks do, even if they are not banks. They want people to look at their plans and say what they think about it by January 31, 2025.

  • 2025-02362 — Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB
    Type:Notice
    Citation:90 FR 9160
    Reading Time:about 2 minutes

    The Board of Governors of the Federal Reserve System has decided to extend the Domestic Branch Application (FR 4001) for another three years. This means that state member banks must continue to seek approval from the Federal Reserve before opening new branches, and they must notify the Federal Reserve by letter without using a specific form. The Board published a request for public comments on this extension and did not receive any feedback. The extension is happening without any changes to the current process.

    Simple Explanation

    The Federal Reserve is going to keep using the same form for banks to tell them when they want to open new branches for three more years, and no one said anything when they asked if this was okay.

  • 2021-02541 — Agency Information Collection Activities: Comment Request
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    Type:Notice
    Citation:86 FR 8640
    Reading Time:about a minute or two

    The Export-Import Bank of the United States (EXIM) is seeking feedback from the public and other federal agencies regarding a proposed information collection effort. This effort aims to collect necessary information to monitor borrower's payments and alert EXIM of any defaults under its export credit insurance policies. The information will help the bank manage its portfolio effectively. Comments are invited until April 9, 2021, and can be submitted online or by mail.

    Simple Explanation

    The Export-Import Bank is asking people to share their thoughts on a plan to collect information that helps them check if people are paying for things they bought from other countries, and to know if someone stops paying. They do this to keep track of their money safely and make sure everything is working well.

  • 2025-06150 — Agency Information Collection Activities: Submission to the Office of Management and Budget for Review and Approval; Comment Request; EIB 99-14, Export-Import Bank Trade Reference Form
    Type:Notice
    Citation:90 FR 15365
    Reading Time:about 2 minutes

    The Export-Import Bank of the United States (EXIM) is seeking public comments on a proposed information collection to improve the process of financing U.S. exports. This proposal, which falls under the Paperwork Reduction Act of 1995, offers a form to assess the creditworthiness of foreign buyers, which helps EXIM make informed decisions on providing export credit insurance and financing. Interested parties have until June 9, 2025, to submit their comments. The form aims to streamline the export finance process by gathering essential credit information from entities involved in the export of U.S. goods and services.

    Simple Explanation

    EXIM wants people to share their thoughts on a new form that helps them decide if it's a good idea to lend money when U.S. companies sell stuff to other countries. This form checks if the buyers have a good history of paying back what they owe.

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