April 13, 2021 12:00 p.m. – 3:30 p.m. ET | 11:00 a.m. – 2:30 p.m. CT Virtual video event presented by all 12 District Banks of the Federal Reserve System

April 13, 2021 12:00 p.m. – 3:30 p.m. ET | 11:00 a.m. – 2:30 p.m. CT Virtual video event presented by all 12 District Banks of the Federal Reserve System

April 13, 2021 12:00 p.m. – 3:30 p.m. ET | 11:00 a.m. – 2:30 p.m. CT Virtual video event presented by all 12 District Banks of the Federal Reserve System

The Mortgage Analytics and Performance Dashboard (MAPD) gives policymakers at the national, state, and local levels the ability to see where owner-occupant homeowners in their jurisdictions have fallen behind on mortgage payments or used mortgage forbearance as a means of economic relief during the COVID-19 pandemic.

In the previous recession, tracking mortgage delinquency measures was one of the primary methods for understanding the amount of distress in the mortgage market. Unlike the previous downturn, where there was no uniform and widespread response, mortgage forbearance has been one of many tools used by the federal government to provide economic relief to U.S. homeowners. Mortgage forbearance is a policy that provides borrowers the flexibility to miss mortgage payments without immediate penalty during a specified period, normally six months. These missed payments usually are rolled into a repayment plan of some kind after the forbearance period has ended....

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April 2, 2021

By Michael Johnson, Executive Vice President Supervision, Regulation, and Credit Federal Reserve Bank of Atlanta

In my last letter, I encouraged everyone to hang in there, as we are beginning to see some light at the end of the tunnel. Today, while our Federal Reserve examinations are still being conducted off-site, there are positive signs for a possible shift to “normalcy” later in 2021 given the widespread access to vaccines. Reports indicate that the vaccines are effective in reducing infection rates and limiting the severity of illness if people become infected. Similarly, additional financial support—including extensions of modifications and moratoriums on foreclosures and evictions—has served as an economic vaccine for those businesses and households most affected, allowing fourth quarter financial results to remain stable, and we expect that the economy will continue to improve as the virus is contained. However, there are still...

The global financial crisis of 2007–09 revealed substantial weaknesses in large banks' capital adequacy and liquidity. Bank regulators responded with a variety of prudential measures intended to strengthen both. However, these prudential measures resulted in conflicts with the implementation of monetary policy that helped alter the way the Federal Reserve conducts monetary policy. I review three such conflicts: regulation inhibiting interest on excess reserves arbitrage starting in 2008, regulation inhibiting banks' operations in the repo market in 2019, and regulation inhibiting their operations in the Treasury securities market in 2020. The article concludes with a discussion of the issues associated with changing specific banking regulations and some more general suggestions for dealing with these types of conflicts.