Finally, the Federal Reserve Board on Sunday announced it will make available additional funding to eligible depository institutions to help assure banks have the ability to meet the needs of all their depositors.

Hot on the heels of several United States bank collapses, the Federal Reserve has announced $25 billion worth of funding aimed at backstopping banks and other depository firms.

On Sunday, the New York Department of Financial Services, or DFS, announced that it had taken possession of Signature Bank. The DFS appointed the Federal Deposit Insurance Corporation, or FDIC, as the receiver of the bank. In a joint statement, the U.S. Federal Reserve, Treasury Department, and FDIC explained that all Signature depositors would be made whole, similar to a decision made by the federal government to bail out California’s Silicon Valley Bank (SVB).

The Federal Reserve is putting together a “specialized team of experts” to help it supervise the crypto sector, Michael Barr, the central bank’s vice chairman for supervision, said Thursday.

Bitcoin fell to a three-week low Wednesday as U.S. Federal Reserve Chairman Jerome Powell's hawkish testimony to Congress spurred traders to price in a higher "terminal rate."

On February 22, Republican Congressman Tom Emmer of the US House of Representatives introduced a bill to ban the Federal Reserve (Fed) from issuing a central bank digital currency (CBDC). The “CBDC Anti-Surveillance State Act” aims to protect the financial privacy of American citizens by prohibiting the creation of a CBDC by the Fed without prior review and approval from Congress. Emmer argued that creating a CBDC could negatively impact financial privacy and individual freedom, as authorities and regulatory entities could use it as a tool to track and control citizens’ spending. (cryptopotato)

The Fed announced its denial on Feb. 23 saying the Federal Reserve Board previously decided that Custodia’s application “was inconsistent with the required factors under the law.”

Waller, echoing other U.S. regulators who have cheered their success at protecting the financial system from the cryptocurrency sector’s woes, said Friday that the fallout from the FTX collapse and other recent firm failures hasn’t caused significant damage to the system the Fed oversees.

Several Federal Reserve governors and presidents say that more interest rate hikes are needed to curb inflation. “We are not done yet with raising interest rates,” Fed Governor Lisa Cook said. “We need to raise rates aggressively to put a ceiling on inflation,” Minneapolis Federal Reserve President Neel Kashkari stressed.

Roger Ferguson – former vice chairman of the Federal Reserve – has offered his analysis of the central bank’s latest interest rate hike and the press conference that followed on Wednesday.