The move will loosen restrictions on short-term trading, enabling banks to invest more in alternatives.
The FedNow Service is set to begin operating by 2023 or 2024.
Wall Street assailed an earlier proposal for not easing burdens enough on banks.
Daniel Tarullo accuses the Fed of "low-intensity deregulation" weakening the U.S. financial system.
The latest effort to impose restrictions on Wall Street bonuses is advancing.
The post-crisis Volcker Rule could allow more types of trades.
Attempts at deregulation under the Trump administration have slowed to a crawl.
U.S. regulators are poised to scrap their proposal for revising Volcker Rule restrictions on banks’ trading.
A banking regulator warned that corporate debt is becoming increasingly risky.
A top Federal Reserve official fired a rare public warning.
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