The Bank for International Settlements (BIS) has released research papers from its 25th Annual Conference, held on June 26, 2026, in Basel, Switzerland, under the theme 'Central Banking and Macro-Financial Stability in a Fragmented World Economy.' Three papers were published as BIS Working Papers 1384, 1385, and 1386, with a fourth to follow as BIS Working Paper 1387.
Read originalFederal Reserve Governor Michelle Bowman delivered remarks presenting preliminary findings from an independent review of the Silicon Valley Bank (SVB) failure that she commissioned, along with directions for advancing regulatory modernization. The review found that supervisors identified SVB's interest rate and liquidity risks at least nine months before the bank was taken over, but failed to act promptly due to long-standing ambiguity in decision-making authority and a lack of accountability mechanisms. Between 2019 and SVB's failure, the bank had 54 supervisory matters requiring attention or immediate attention, yet none required it to address its core financial risks.
Read originalOn October 13, 2026, the Federal Reserve Board released the minutes of its discount rate meetings held on August 17, September 9, and September 16, 2026. The minutes disclose the Board's deliberations and determination of the discount rate provided to depository institutions through the discount window. This rate-setting process is independent of the Federal Open Market Committee's process for setting the target range for the federal funds rate.
Read originalFed Governor Waller delivered a speech at the Central Bank of Türkiye, explaining the rationale behind the September FOMC decision to raise the policy rate by 25 basis points to 3.75%-4%, and elaborating on the signaling role of the Summary of Economic Projections (SEP). He stated that the September rate hike was not based on a single inflation data point, but rather the cumulative result of multiple factors over recent months, including stabilization in the labor market, energy price increases driven by Middle East conflicts, high-tech consumer price increases driven by AI construction, and new tariff risks arising from trade conflicts.
Read originalThe Federal Reserve released the minutes of the September 15-16, 2026 FOMC meeting on October 7, 2026. The minutes are based solely on information available to the Committee at the time of the meeting. Regular FOMC meeting minutes are typically released three weeks after the policy decision announcement, and are available in HTML or PDF format on the Federal Reserve Board's website.
Read originalFed Vice Chair for Supervision Bowman delivered remarks sharing preliminary assessments following the implementation of the eSLR rule finalized in November 2025.
Key Takeaways:Understand the calibration logic behind eSLR's shift from a fixed 2% buffer to 50% of GSIB method-1 surcharge capital, and its impact on the balance sheet capacity of Treasury market dealers.
Fed Governor Jefferson delivered a speech at the University of Virginia, outlining his assessment of the U.S. economy and monetary policy. In the first half of this year, U.S. GDP grew at an annualized rate of 2.4%, roughly in line with the growth rate over the past two years, with AI-related investment being the main support for business investment. The unemployment rate stood at 4.1% in August, close to the maximum employment level.
Read originalFederal Reserve Governor Lisa Cook delivered remarks at the first nationwide Investing in Rural America conference hosted by the Federal Reserve Bank of Richmond. She noted that rural labor markets broadly track national trends, but with lower labor force participation and slower employment growth than urban areas in recent years. Rural inflation has largely aligned with national trends, though cost-of-living increases outpaced urban areas during the post-pandemic recovery, with energy and housing costs as the primary sources of divergence.
Read originalFed Governor Waller delivered a speech at the Sibos conference, focusing on the current state and potential impact of AI technology applications in the payments sector. He noted that AI can improve the efficiency of compliance screening for cross-border payments, optimize payment routing and foreign exchange conversion decisions, and also analyzed the two mainstream models and development prospects of agentic commerce driven by AI agents.
Read originalThe Federal Reserve Board and the Federal Open Market Committee have released economic projections from the September 15-16 FOMC meeting, with related tables and charts published at 2:00 p.m. ET. The projection materials are available in PDF format, accompanied by accessible versions. Media inquiries can be directed to the designated email address or contact phone number.
Read originalThe Federal Reserve released its FOMC monetary policy statement on September 16, 2026, deciding by a unanimous vote of 12 in favor and 0 against to raise the federal funds rate target range by 25 basis points to 3.75%-4%, in support of the Federal Reserve's dual mandate objectives.
Read originalOn August 25, 2026, the Federal Reserve Board released the minutes of its discount rate meetings held on July 20 and July 29, 2026, covering the review and determination of the discount rate offered to depository institutions through the discount window. The process for setting this discount rate is independent of the Federal Open Market Committee's process for setting the target range for the federal funds rate.
Read originalThe Federal Reserve released the minutes of the July 28-29, 2026 FOMC monetary policy meeting on August 19, 2026. The minutes were prepared based on the economic and financial information available to the Committee at the time of the meeting. FOMC regular meeting minutes are typically released three weeks after the policy decision is made. The minutes are available on the Federal Reserve Board's website in both HTML and PDF formats.
Read originalThe Federal Reserve released the FOMC monetary policy statement on July 29, 2026, voting 9-3 to maintain the federal funds rate target range at 3-1/2 to 3-3/4 percent, continuing to implement a policy of ample reserves in the banking system.
Read originalOn July 14, 2026, the Federal Reserve Board released the minutes of its discount rate meetings held on June 8 and June 17, 2026, covering the review and determination of the discount rate offered to depository institutions through the discount window. The process for setting this discount rate is independent of the Federal Open Market Committee's process for setting the target range for the federal funds rate.
Read original
