The Federal Reserve System plays a crucial role in the payments system that is especially important during periods of financial turmoil. In this article, Robert Clair, Joanna Kolson, and Kenneth Robinson explain the process and the risks involved in clearing checks in the private sector. They...

In the financial crisis that began in August 2007, securitization activity virtually dried up. When the housing bubble burst, the value of the collateral backing much of the asset-backed securities (ABS) declined sharply, and so did the value of the securities themselves. The Federal Reserve...

Neiman Marcus, Harrah’s, Petco, J. Crew—these well-known names are among the holdings of companies owned or co-owned by private equity (PE) firms in the Federal Reserve’s Eleventh District. The region is home to more than 175 PE firms, including the world’s third-largest, Fort...

Banks across the U.S., including the Eleventh Federal Reserve District, appear to be recovering from the financial crisis that began in mid-2007. The news is welcome because a healthy banking sector spurs economic growth by providing financing for businesses to expand investment spending and for...