A Perspective from Main Street: Long-Term Unemployment and Workforce Development, December 2012
The Federal Reserve’s Community Development function promotes economic growth and financial stability for low- and moderate-income (LMI) communities and individuals through a range of activities including convening stakeholders, conducting and sharing research, and identifying emerging issues. Given the attenuating effects of long-term unemployment on the broader economic recovery and the particular issues facing LMI communities, in the fall of 2011, the Community Development function at the Reserve Banks of Atlanta, Dallas, Kansas City, Minneapolis, New York, Philadelphia, Richmond, San ...
Report on the Economic Well-Being of U.S. Households in 2013
Many households in the United States have been tested by the Great Recession. Large-scale financial strain at the household level ultimately fed into broader economic challenges for the country, and the completion of the national recovery will ultimately be, in part, a reflection of the well-being of households and consumers. Because households’ finances can change at a rapid pace and new opportunities and risks may emerge, such recovery can be complex to monitor. To better understand the financial state of U.S. households, the Federal Reserve Board conducted a new consumer survey, the ...
Report on the Economic Well-Being of U.S. Households in 2017
This report draws from the Board's fifth annual Survey of Household Economics and Decisionmaking (SHED) and examines the economic well-being and financial lives of Americans and their families.
The The Board Should Strengthen Controls to Safeguard Embargoed Sensitive Economic Information Provided to News Organizations
The Office of Inspector General (OIG) conducted this audit to assess the Board of Governors of the Federal Reserve System’s (Board) controls to protect sensitive economic information from unauthorized disclosure when it is provided under embargo to news organizations either (1) through a press lockup room located at the Board or (2) via the Board’s embargo application, which enables news participants to remotely access information made available by the Board. The OIG’s audit covered the period April 2014 through March 2015 and included the Federal Open Market Committee (FOMC) statements ...
Study of Auction or Bulk Refinance Program
The Housing and Economy Recovery Act of 2008 (Act) requires that the Oversight Board of Directors of the HOPE for Homeowners Program (Oversight Board) conduct a study of the need for, and efficacy of, an auction or bulk refinancing mechanism to facilitate the refinancing of existing residential mortgages that are at risk for foreclosure into mortgages insured under the HOPE for Homeowners Program.1 The study must identify and examine various options for mechanisms under which lenders and servicers of such mortgages may make bids for forward commitments for such insurance in an expedited ...
Report to the Congress on the Profitability of Credit Card Operations of Depository Institutions, June 2007
Section 8 of the Fair Credit and Charge Card Disclosure Act of 1988 directs the Federal Reserve Board to transmit annually to the Congress a report about the profitability of credit card operations of depository institutions. This is the seventeenth report. The analysis here is based to a great extent on information from the Consolidated Reports of Condition and Income (Call Report) and two Federal Reserve surveys, the Quarterly Report of Credit Card Interest Rates and the Survey of Terms of Credit Card Plans.
Consumers and Mobile Financial Services 2015
Mobile phones have increasingly become tools that consumers use for banking, payments, budgeting, and shopping. Given the rapid pace of developments in the area of mobile finance, the Federal Reserve Board began conducting annual surveys of consumers’ use of mobile financial services in 2011. The survey examines trends in the adoption and use of mobile banking, payments, and shopping behavior and how the emergence of mobile financial services affects consumers’ interaction with financial institutions. This report presents findings from the 2014 survey, fielded in December, which focused ...
The 2013 Federal Reserve Payments Study Recent and Long-Term Trends in the United States: 2000–2012 Detailed Report and Updated Data Release
This detailed report is a complement to the “Summary Report and Initial Data Release” (Summary Report), which was released in December 2013 and has been updated for consistency with revisions made during preparation of this report.1 This report includes new information related to noncash payments based on additional estimates and analysis. For instance, this detailed report provides new insights into the use of cards by consumers and businesses, alternative payment initiation methods, consumer and business domestic and cross-border wire transfers, and an expanded view of cash deposits and ...
2008 Annual Report to the Congress on the Presidential $1 Coin Program
Pursuant to section 104 of the Presidential $1 Coin Act of 2005 (Public Law 109-145), the Board of Governors of the Federal Reserve System is required to assess and submit a report to the Congress on the remaining obstacles to the efficient and timely circulation of $1 coins; to assess the extent to which the goals of consultations with industry representatives, the vending industry, and other coin-accepting organizations are being met; and to provide such recommendations for legislative action the Board may determine to be appropriate. Since our 2007 annual reports, the Federal Reserve Banks ...
Insights into the Financial Experiences of Older Adults: A Forum Briefing Paper, July 2013
The U.S. population is aging rapidly. By 2060, more than one in five individuals in the United States will be over the age of 65, up from one in seven today. The older adult population, here, defined as those 40 and older, represents multiple generations of individuals with varying financial circumstances and needs. Data show older adults as a group hold a greater share of household net worth than younger cohorts. However, substantial-and, for some, potentially irrecoverable-wealth losses resulting from the financial crisis are particularly acute for households without the capacity to work or ...