Press Room

Insurance in the United States is big business: Insurance premiums (not counting health insurance) totaled $1.1 trillion in 2012. To protect themselves against large claims, many insurance companies have long bought insurance from other insurers to share their risks. In a new wrinkle, some life insurers have started setting up "captive" insurance companies to, in effect, buy insurance from themselves — a practice that critics say makes these companies look healthier than they really are. The cover story in the latest issue of Econ Focus looks at these and other questions about the business of insurance.

The "Beige Book" report is published eight times per year and consists of anecdotal information on current economic conditions from each Federal Reserve.

The Board of Governors of the Federal Reserve System has appointed Laura Y. Clark to serve on the Charlotte office board for the remaining portion of a three-year term that ends Dec. 31, 2015.

The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on March 18-19, 2014 and of the conference call held on March 4, 2014.

The Federal Open Market Committee voted Wednesday to further reduce its monthly purchases of Treasury and agency mortgage-backed securities and to keep the federal funds rate low.

The Federal Reserve Bank of Richmond has promoted Becky Bareford to senior vice president with responsibility for the organization’s human resources function.

The Federal Reserve Bank of Richmond has appointed Jeremy Caldwell and Christy Cleare as vice presidents.

The Federal Reserve System on Friday released the 2013 combined annual financial statements for the Federal Reserve Banks, as well as statements for the 12 individual Federal Reserve Banks, the consolidated variable interest entities (VIEs) that were created to respond to strains in financial markets, and the Board of Governors. These financial statements are audited annually by an independent auditing firm.

The "Beige Book" report is published eight times per year and consists of anecdotal information on current economic conditions from each Federal Reserve.

The Federal Reserve Board and the Federal Open Market Committee released the transcripts of the Committee meetings held January through December 2008.