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Jul 20, 2023 • 4 tweets • 3 min read
@federalreserve announces that its new system for instant payments, the FedNow® Service, is now live (1/4): federalreserve.gov/newsevents/pre…
#FedFAQ: What is the FedNow Service?
#FedFAQ: Is FedNow replacing cash? Is it a central bank digital currency?
No. FedNow is not related to a digital currency. FedNow is a payments service the Federal Reserve is making available for banks and credit unions to transfer funds. (1/6) federalreserve.gov/faqs/is-fednow…
The FedNow Service is neither a form of currency nor a step toward eliminating any form of payment, including cash. The FedNow Service is an instant payments service provided by the Federal Reserve, launching in July 2023. (2/6)
Apr 12, 2023 • 6 tweets • 2 min read
#FedFAQ: Is FedNow replacing cash? Is it a central bank digital currency?
No. FedNow is not related to a digital currency. FedNow is a payments service the Federal Reserve is making available for banks and credit unions to transfer funds. (1/6) federalreserve.gov/faqs/is-fednow…
The FedNow Service is neither a form of currency nor a step toward eliminating any form of payment, including cash. The FedNow Service is an instant payments service provided by the Federal Reserve, launching in July 2023. (2/6)
Nov 4, 2022 • 5 tweets • 2 min read
The Federal Reserve is the central bank of the United States. It performs five key economic functions in the public interest to help promote the healthy U.S. economy, including promoting the stability of a financial system. Learn more: (1/5)
The Financial Stability report reviews conditions affecting the stability of the financial system. The @federalreserve monitors risks to the financial system & works to help ensure a healthy economy for U.S. households, communities, & businesses. federalreserve.gov/publications/f… (2/5)
Sep 9, 2022 • 4 tweets • 2 min read
We have just posted Financial Accounts of the U.S., with flow of funds, balance sheet, & integrated macroeconomic account data: federalreserve.gov/releases/z1/de…#FedData (1/4)
Household net worth decreased by $6.1 trillion in Q2, mainly because of a drop in stock prices. federalreserve.gov/releases/z1/20… (2/4)
Feb 12, 2021 • 4 tweets • 2 min read
The @federalreserve conducts stress tests to assess the resiliency of large banks & help ensure that they can lend to households & businesses during a severe recession. They evaluate bank strength by estimating losses & capital levels against hypothetical recessions. (1/4)
The stress tests are conducted in two ways. The Board runs and releases results from its own stress test and each large bank also is required to run a stress test itself and estimate and disclose its own individual results. (2/4)