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Fed Discount Window and Recent Changes Due to COVID-19

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Subject Matter Experts

The speaker for the session is Steven McCarther, Senior Manager of Collateral at the Richmond Federal Reserve Bank and member of UFSC Richmond Chapter.  “Fed Discount Window and Recent Changes Due to COVID-19”.

UFSC National organization is hosting the COVID-19 Relief Series to keep members and Communities of Color informed of the economic impact of COVID-19 and programs created to support individuals, businesses and communities during this time of uncertainty.

Mr. McCarther will discuss the purpose, function and recent changes to the Discount Window.  The unprecedented changes make the Discount Window a viable option for depository institution’ liquidity needs and is one component detailing how the Federal Reserve is responding to the current pandemic. 

Date: Wednesday, June 3, 2020

Time: 6:30 pm, EDT.

Location: Virtual and hosted on ZOOM

Recorded: Yes, this call will be recorded. 

Register here at: https://UFSCCovidDiscountWindow.eventbrite.com


Speaker

Steven McCarther

Steven McCarther currently serves as a Senior Manager of Collateral in the Credit Risk Management business line of Supervision, Regulation, and Credit for the Richmond Fed. He has oversight of all depository institutions pledging collateral within the Fifth District of the Federal Reserve to the discount window.

After holding lending and management positions with Bank of America, Wachovia and Jefferson National Bank. Steven joined the Federal Reserve Bank of Richmond in 2000 as an Assistant Examiner with the Community and Regional division of Supervision, Regulation & Credit reviewing state member banks and bank holding companies in the Fifth District until his commissioning in 2004. He also was an Examiner in the Regional Organizations of Complexity and Specialization (ROCS) group whose portfolio included institutions with $3 to $15 billion in total assets. In 2005, Steven transitioned to the Credit Risk Management department as a Sr. Condition Monitoring performing financial analysis on all Fifth District institutions with access to Federal Reserve services and the Discount Window, either directly or indirectly. Steven is a certified Federal Reserve Ambassador who speaks regularly to the public and civic groups about the purpose and functions of the Federal Reserve.

Register here at: https://UFSCCovidDiscountWindow.eventbrite.com

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