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Iovino, La'O and Mascarenhas (forthcoming) ask two important questions regarding the optimal conduct of monetary policy: Should the central bank's policy depend on information the central bank has that is not available to markets? And should the central bank disclose information that it has but market participants do not? Iovino, La'O and Mascarenhas answer these questions using a simple, stylized model with one-period price stickiness. They show that efficient equilibria can be sustained regardless of whether policy depends on the central bank's information and regardless of its disclosure policy. We explain the logic behind their irrelevance result and show that if restrictions are imposed on equilibria, then monetary policy should in general depend on the central bank's information. Finally, we offer some speculative answers to their questions and discuss the sense in which policy is converging towards theory. [ABSTRACT FROM AUTHOR]

This article examines the underrepresentation of women in research departments at Federal Reserve Banks and explores the factors contributing to this disparity. The data shows that women are more likely to work in academia than at the Reserve Banks, and within academia, they are less likely to be in research tracks compared to men. The article suggests that women may prefer non-research career tracks at universities due to the flexibility they offer. While the representation of women at the Reserve Banks has been slowly increasing, proactive measures are needed to attract and retain female talent, particularly in fields relevant to monetary policy and central banking. The article also discusses the impact of family decisions on women's careers and the importance of creating a supportive ecosystem to foster a more inclusive and gender-balanced community at the Federal Reserve Banks. [Extracted from the article]

The article looks at the studies conducted by New York Fed economists to assess the effects of regulatory reform prompted by the 2008-2008 financial crisis, particularly those that affected banks. Specifically, it reviewed reforms on the cost of bank equity capital, on bank profitability and risk, and on liquidity. The studies suggest that banks respond actively to the new regulations.

Banking can be defined as the business of maturity transformation, or "borrowing short to lend long." Economists and policymakers have long viewed banking as inherently unstable, that is, prone to runs. This Economic Brief reviews the intuition and theory behind bank runs and the most popular proposed solutions. It also explores new research suggesting that runs might be prevented by creating a new, low-cost type of deposit contract that eliminates the incentive to run. [ABSTRACT FROM AUTHOR]

Reports on legal issues resolved and rulings released by the United States Federal Reserve Board. Home mortgage disclosure; Bank holding companies and change in bank control; Application of the Bank Merger Act in Chase Manhattan Corp.; Orders issued under International Banking Act; Applications approved under Bank Holding Company Act.

Discusses various issues concerning the supervision of large complex banking organizations (LCBO) by the United States Federal Reserve Board. Banking industry trends; Development of LCBO programs; Assets of banking organizations; Elements of risk-focused supervision; Supervisory responses; Criteria for inclusion in the program; Application of risk-focused supervision to LCBO; Benefits of the LCBO program.

Presents bank regulations and policies approved or amended by the Federal Reserve Board. Amendments to safety and soundness standards; Approval of an increase in the basic discount rate at each Federal Reserve Bank; Orders issued under the Bank Holding Company Act; Approval of notices to engage in nonbaking activities; Orders issued under the Bank Merger Act.

Highlights legal developments concerning federal reserve banks in the United States. Includes amendments made on the Economic Growth and Regulatory Paperwork Reduction Act of 1996; Revisions on Regulation CC or the Availability of Funds and Collection of Checks; Orders issued under the Bank Holding Company Act; Orders issued under the International Banking Act; Pending cases involving the Board of Governors.

Highlights the decision of the United States Federal Reserve System's Board of Governors on cases involving bank holding companies, bank service corporation and bank mergers. Order approving the merger between Texas Regional Bancshares Inc. and Harlingen Bancshares Inc.; Board's approval of Bank Iowa's plan to acquire a branch of US Bank.

Presents announcements from the United States Federal Reserve System regarding regulations and policies about finance, banks and banking in the United States. Meetings; Withdrawal of proposed legislation about bank customer information; Effectivity of rules amending risk-based and leverage capital standards.

Opposes the US Department of Treasury's proposal to eliminate the Federal Reserve System's involvement in bank regulation and supervision through the creation of a Banking Commission. Arguments in favor of the Federal Reserve's continued supervision and regulation of state-chartered banks; Federal Reserve's responsibilities; Significance of the Federal Reserve's presence in New England; More.

Discusses major issues facing banks, bankers and regulators. Efficiency of the financial system arrangements; Rationale for the existence of the banking regulation; Trade-off between regulatory burden and the scope of the safety net; Purposes of consumer and Community Reinvestment Act (CRA) laws.

Presents several banking amendments made by the Board of Governors of United States. Amendment of the Reserve Requirements of Depository Institutions and its purpose; Information on Rules Regarding Availability of Information to reflect changes in the Freedom of Information Act.

Presents the text of a speech given by a member of the Board of Governors of the US Federal Reserve System on October 8, 1997. Discussing the efforts of the Federal Reserve Board to strengthen its supervisory processes; Sharing the Board's views about what challenges lie ahead, for both the banking system and the supervisory process.

Presents the author's statement before the Subcommittee on Capital Markets, Securities and Government-Sponsored Enterprises, Committee on Banking and Financial Services, US House of Representatives, on June 26, 1996. Focus on the supervision of bank sales practices on behalf of the Federal Reserve; Interagency statement; Mutual fund sales; Examination procedures.

Presents regulations on bank holding companies, bank service corporations and bank mergers and pending cases. Amendment to Regulation E, T and O by the Board of Governors; Orders issued under Bank Holding Company Act; Orders Issued under Bank Merger Act; Applications approved under Bank Holding Company Act; Final Enforcement Decision issued by the Board of Governors.

Presents the text of various banking regulations. Amendment to Regulation K, International Operations of the United States Banking Organizations; Rules regarding equal opportunity; Order approving the acquisition of a bank holding company, merger of banks and establishment of branches.

Presents developments involving the Federal Reserve Bank and banks in the United States. Orders issued under Bank Holding Company Act; Orders issued under International Banking Act; Actions taken under the Federal Deposit Insurance Corporation Improvement Act; Applications approved under Bank Holding Company Act.

Reports on bank holding company, bank service corporation and bank merger orders, and pending cases. Final rule on amendments to regulations G, T, U and X; Amendment to regulation J; Orders issued under Bank Holding Company Act; Orders issued under Federal Reserve Act; Actions taken under the Federal Deposit Insurance Corporation Improvement Act.

Presents the statement of Federal Reserve System Board of Governors Chairman Alan Greenspan before the Committee on Banking, Housing, and Urban Affairs of the Senate on March 2, 1994. Opinion on proposals to consolidate the banking regulators into a single agency; Federal Reserve's stabilization objectives; Objections on the stripping of responsibilities from the Federal Reserve System.

Presents various bank holding company, bank merger orders, bank service corporation and pending cases. Amendment to the Federal Reserve System's regulation on Extension of Credit by Federal Reserve Banks; Amendment to rules regarding delegation of authority; Orders issued under Bank Holding Company Act.

Presents various bank holding company, bank service corporation, bank merger orders and pending cases. Amendment to the Federal Reserve System's regulation D; Orders issued under Bank Holding Company Act; Community Reinvestment Act examination.

Presents various bank holding company, bank service corporation and bank merger orders. Amendments to the Federal Reserve Systems Board of Governors' rules labeled G, T, U and X; Amendment to rules regarding delegation of authority; Community Reinvestment Act performance examinations.

Presents Federal Reserve System's legal developments in various bank holding company, bank service corporation, bank merger orders and pending cases. Amendment to Regulation C; Amendment to Regulation Y; Amendment to Regulation Z; Amendment to Regulation DD; Annual percentage yield calculation; Orders issued under Bank Holding Company Act; More.

Presents a statement by the Chairman of the Federal Financial Institutions Examination Council (FFIEC) and member of the Federal Reserve System's Board of Governors, John P. LaWare, before the Committee on Banking, Finance and Urban Affairs, US House of Representatives, on February 18, 1993. Appropriate level of regulation of banking institutions; Study on regulatory burden made by the FFIEC in 1992.

Presents the amended version, effective April 24, 1991, of 12 C.F.R. Part 204, Regulation D (Reserve Requirements of Depository Institutions). Details; Orders issued under Bank Holding Company Act.

Presents the amended version of 12 C.F.R. Part 204, effective December 13, 1990. Regulation D (Reserve Requirements of Depository Institutions); Requirements.

Presents the amended version of 12 C.F.R. Part 204, effective December 18, 1990. Regulation D, Reserve Requirements of Depository Institutions; Increase the amount of transaction accounts subject to a reserve requirement ratio of three percent; Low reserve tranche adjustments.

Presents the revised version of 12 C.F.R. Part 210, effective January 1, 1991. Subpart B to its regulation J (Funds Transfers Through Fedwire); Make it consistent with the new Article 4A of the Uniform Commercial Code, Funds Transfers; Rules governing funds transfers through Fedwire; Commentary to the regulation that constitutes a Board interpretation of the regulation.

Details the amendments to parts 208 and 225 of 12 C.F.R., its Regulations H and Y. Includes orders issued under bank holding company act; Applications approved under bank merger act.

Focuses on the effects of government policy and market structure on the performance of the banking system in the United States. Lessons from bank failures during the Great Depression; Insights into the bank and savings & loans debacle of the 1980s; Interstate variation in the number of bank failures; Government's enactment of the Federal Deposit Insurance Corp. Improvement Act of 1991 (FDICIA).

Opinion. Argues against protection of banks against runs under laissez faire as a justification for federal deposit insurance. Market provision of incentives to banks; Paradox of deposit insurance; Laissez faire stability in banking; Destabilizing effects of deposit insurance; Policy implications of deposit insurance implementation.

The article provides information on the order issued by the Board of Governors of the U.S. Federal Reserve System under the International Banking Act (IBA), which approves the establishment of a representative office. In this case, the Bank of Fukuoka Ltd. in Japan applies to establish a representative office in New York City. The office will serve as a liaison between the bank and its correspondent banks and customers in the U.S. as well as gather information and conduct research.

The article provides information on the order issued by the Board of Governors of the U.S. Federal Reserve System under the International Banking Act (IBA), which approves the establishment of a representative office, and in this case, the application of Banca Popolare di Vicenza SCpA based in Vicenza, Italy. It notes that the representative office will serve as a liaison between the bank and its customers. It determines the bank's sufficient access assurances to relevant information.

Mentions announcements related to the United States Federal Reserve. Includes the adoption of a directive by the Federal Open Market Committee; Revision of Regulation CC or the Availability of Funds and Collection of Checks; Proposal for examination frequency cycle for US branches and agencies of foreign banks; Extented public comment period on the issue of electronic delivery of federally-mandated disclosures.