Search Results for keywords:"First Bank

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Search Results: keywords:"First Bank

  • Type:Rule
    Citation:90 FR 3615
    Reading Time:about 6 minutes

    The Board of Governors of the Federal Reserve System has made changes to Regulation D by reducing the interest rate paid on balances (IORB) at Federal Reserve Banks to 4.4 percent from the previous 4.65 percent. This amendment was effective on December 19, 2024, and aims to help maintain the federal funds rate within the desired target range. The Board found it necessary to forego usual notice and comment procedures, citing the importance of prompt action in the public interest. Additionally, the rule is not subject to the Regulatory Flexibility Act or the Paperwork Reduction Act since no general notice of proposed rulemaking was required.

    Simple Explanation

    The government decided to lower the interest it gives to banks for keeping their money safe, from 4.65% to 4.4%, to help control how easy it is for people to borrow and spend money. They made this change quickly without asking the public first, because they thought it needed to happen soon.

  • Type:Rule
    Citation:86 FR 9120
    Reading Time:about 9 hours

    The Office of the Comptroller of the Currency, the Federal Reserve Board, and the Federal Deposit Insurance Corporation have finalized a rule called the Net Stable Funding Ratio (NSFR). This rule is designed to ensure large banking organizations maintain stable funding over a one-year period to support their various financial activities. By requiring stable funding, the rule aims to reduce liquidity risks, ensuring banks can continue to operate smoothly even in challenging economic conditions. This rule applies to large U.S. banks and some foreign banks with significant assets, enhancing the overall stability of the financial system.

    Simple Explanation

    The government made a new rule for big banks to make sure they always have enough safe money set aside, so they can keep running smoothly even if things get tough in the economy. This helps keep everyone's money safer in the bank!

  • Type:Notice
    Citation:90 FR 17935
    Reading Time:about 3 minutes

    The Board of Governors of the Federal Reserve System is extending the Central Bank Survey of Foreign Exchange and Derivatives Market Activity (FR 3036) for three years with revisions. This updated survey, effective April 2025, aims to better align with the guidelines set for the 2025 global data collection led by the Bank for International Settlements (BIS). The survey will involve 21 respondents, including large commercial banks, and will help the Federal Reserve gather crucial data about foreign exchange transactions. Despite one public comment suggesting real-time data capture, the Board decided to proceed with the original proposal, emphasizing that the survey's current scope appropriately balances gathering information and the burden on respondents.

    Simple Explanation

    The Federal Reserve is going to keep asking big banks questions about how they trade money with other countries, but they will change the questions a bit to get better answers. They got one suggestion on how to make it better but decided not to change their plan.

  • Type:Notice
    Citation:90 FR 8555
    Reading Time:about 15 minutes

    The Securities and Exchange Commission approved proposed changes to the investment policies of the Depository Trust Company, Fixed Income Clearing Corporation, and National Securities Clearing Corporation. These changes are intended to align their policies with new rules for managing U.S. Treasury securities transactions and safeguarding customer margins. The proposal includes a process to keep proprietary and customer funds separate and independently managed, which aims to enhance the stability and security of these financial transactions. The updated policies are meant to ensure that funds are secure and properly managed even in the event of a financial default.

    Simple Explanation

    The SEC says it's okay for some big money-keeping companies to change how they handle money, making sure they keep people's and companies' money safe and separate, even if things go wrong. This helps keep everyone's money safe, just like making sure your toys and your friend's toys are put away in separate boxes!

  • Type:Notice
    Citation:89 FR 105047
    Reading Time:about a minute or two

    The Export-Import Bank of the United States (EXIM) is asking for public comments on a proposed information collection form related to export credit insurance. This form, known as the Exporter's Certificate, is used by financial institutions to ensure exports are eligible for EXIM support and involves certifying certain details about the export transaction. The bank wants feedback on the paperwork process to ease the burden on respondents. Comments can be emailed, submitted online, or mailed by February 24, 2025.

    Simple Explanation

    The Export-Import Bank of the United States wants to hear from people about a form that helps make sure it's safe to give credit support for buying goods from the U.S., and they want to make filling it out easier. They're asking for ideas on how to make the process simpler before February 24, 2025.

  • Type:Notice
    Citation:89 FR 96979
    Reading Time:about 4 minutes

    The Board of Governors of the Federal Reserve System is seeking public comments on a proposal to extend the Computer-Security Incident Notification requirements for three more years without any changes. This rule mandates banking organizations to promptly notify their primary Federal banking regulator of any significant computer-security incidents within 36 hours. The Federal Reserve Board invites feedback on various aspects of the information collection, including its necessity, accuracy, and ways to reduce the burden on respondents. Comments can be submitted until February 4, 2025.

    Simple Explanation

    The Federal Reserve Board wants feedback on a plan to keep a rule for banks that says they have to quickly tell them about any big computer problems. People can share their thoughts and concerns about this rule until February 2025.

  • Type:Notice
    Citation:86 FR 8580
    Reading Time:about 6 minutes

    The Department of Commerce is seeking public feedback on a new plan to collect emergency economic information from businesses and organizations during unexpected events like pandemics or natural disasters. This initiative aims to quickly gather important data to understand the economic impact of such emergencies and to help decision-makers respond effectively. The Census Bureau will use a set of pre-approved questions and provide this information to relevant authorities, business leaders, and the public. Comments on this proposal are invited to ensure it meets its purpose efficiently and minimizes the burden on those responding.

    Simple Explanation

    The Department of Commerce wants to hear from people about a plan to ask businesses some questions when big surprises happen, like storms or health problems. They want this information to help make good choices and solve problems quickly, but there are questions about how it'll all work and keep everyone's data safe.

  • Type:Rule
    Citation:86 FR 9261
    Reading Time:about a minute or two

    The document is a technical correction from the Board of Governors of the Federal Reserve System. It fixes errors in the amendatory instruction for Part 217 of the Board's Regulation Q that was published in the Federal Register on February 3, 2021. The corrections involve changes to specific paragraphs and sections within the regulation to ensure proper headings and numbering. The document also informs readers of the effective date of April 5, 2021, for these corrections.

    Simple Explanation

    The Federal Reserve made a small fix to how some rules for big banks were written. They made sure everything is numbered and titled the right way, like fixing a mistake in a homework assignment.

  • Type:Notice
    Citation:86 FR 2031
    Reading Time:about 4 minutes

    The Office of the Comptroller of the Currency (OCC) is seeking public and agency comments on the renewal of an information collection called the "Examination Survey," as required by the Paperwork Reduction Act. This survey collects feedback from banks regarding the OCC's supervisory activities and aims to improve the examination process through responses on communication, data requests, and examiner professionalism. Comments are due by February 10, 2021, and can be submitted via email, mail, fax, or courier. The survey helps the OCC in enhancing examination quality and targeting examiner training.

    Simple Explanation

    The Office of the Comptroller of the Currency (OCC) wants to hear what people think about how they check on banks to make sure everything's going well. They ask people to fill out a short survey to give feedback to help them improve.

  • Type:Notice
    Citation:86 FR 2647
    Reading Time:about 4 minutes

    The Department of Commerce, under the Paperwork Reduction Act of 1995, is inviting public and federal agency comments on the collection of information regarding access to tissue samples from the National Marine Mammal Tissue Bank (NMMTB). The information helps assess the utility and efficiency of these collections and aims to reduce reporting burdens. Comments are being accepted until March 15, 2021, and suggestions should evaluate the necessity, accuracy, and potential improvements in the information collection process. Changes to the current protocol include additional checkbox options for data collection but maintain the mandatory submission of specimen information.

    Simple Explanation

    The Department of Commerce wants people to share their thoughts on how scientists can borrow tissue samples from marine mammals like whales for research. They want to make sure their process is easy and fair for everyone and want help to find ways to improve it.