Fed’s Bowman Announces Supervision Revamp, Tailoring Update In remarks this week, Federal Reserve Vice Chair for Supervision Michelle Bowman unveiled a restructuring of the Fed’s supervision function and previewed updates to the regulatory tailoring framework. “In recent years, our examinations had drifted to focus on process over substance, prioritizing checklists of requirements instead of applying …

The GENIUS Act of 2025 provides a legal framework for payment stablecoins.[1] Among its provisions, the Act requires payment stablecoins to be backed by short-term safe assets and prohibits issuers from paying interest or yield to stablecoin holders in connection with the holding, use or retention of stablecoins.[2] However, the legislation does not restrict stablecoin …

This note explores developments in payment systems, and in particular efforts to use distributed ledger technology to make payments more efficient and speedy. Three strong incentives motivate firms to process payments. The first is the ability to generate fee income by playing a role in moving money from one place to another. The second, for …

Washington, D.C. – FDIC and OCC proposals to modernize rules on disclosure of confidential supervisory information would bring welcome flexibility, but targeted changes would further strengthen the framework, the Bank Policy Institute said in two comment letters. “The proposed changes streamline the flow of information without compromising safety. The updates would eliminate uncertainty and friction created …