BELTWAY -

Finally Faster than Amazon Prime -

The Federal Reserve Board recently announced that banks and other financial institutions that use its payments system will have to be able to process same-day transactions beginning next year. The move comes despite some opposition from credit unions that this requirement would impose an undue cost given the relatively small number of payment requests they process each day. Despite this opposition, the same-day payments processing requirement will go into effect on Sept. 23, 2016.

Who Needs Capital Reserve? -

The Federal Reserve Board announced that it is delaying until 2017 changes in the way it calculates the amount of capital the nation’s largest banks are required to have on hand in order to weather economic difficulties, as part of federally mandated stress tests under the Dodd-Frank Act. Banks with more than $50 billion in consolidated assets won’t have to calculate a supplementary leverage ratio, which is the ratio of a bank’s core costs to its total leverage exposure, for another year. Large state member banks can also wait until 2017 to implement the ratio. The Board also loosened stress test requirements for smaller banks with assets between $10 billion and $50 billion and savings and loan holding companies with more than $10 billion in assets.