In a lawsuit between a Puerto Rican bank and the New York Fed, a federal judge ruled that reserve banks are not obligated to give master accounts to banks they deem risky. The decision could have implications for other master account challenges.

Rep. Andy Barr, R-Ky., a senior Republican on the House Financial Services Committee, said he intends to press Federal Reserve Chair Jerome Powell to refine the Basel III capital proposal before it is finalized.

The Federal Deposit Insurance Corp. said in a report released Friday that Signature's rapid, unrestrained growth and inadequate risk management practices outpaced supervisors' ratings and responses, even though the issues were known to the agency.

Signature Bank of New York is pulling back from crypto deposits and has increased borrowings from the Federal Home Loan Bank of New York.

John Williams, the president of the Federal Reserve Bank of New York, praised the Fed's new guidelines for granting fintechs and other nonbanks access to the payment system. He also echoed calls for new rules to govern stablecoins and cryptocurrencies.

The Federal Reserve notched two badly needed wins last week, as inflation showed signs of easing and the financial system withstood the collapse of one of the world's biggest crypto firms. Here's what that means for the central bank moving forward.

The lawmakers have asked Attorney General Merrick Garland to share the Department of Justice's analysis on creating a central bank digital currency by Oct. 15.

The move is the latest development in the ongoing political clash over how involved banks should be in crypto markets. 

The guidance follows similar instructions laid out by the Office of the Comptroller of the Currency late last year.

The company claims its digital registry system is a faster, safer alternative to MERS databases