UPDATE: As of 2:33 p.m., Boston Police are saying that they have not made an arrest:

Authorities have reportedly identified and arrested a man responsible for planting the bombs that detonated at the Boston Marathon on Monday afternoon. According to CNN, police were able to use a video captured by a Lord & Taylor department store on Monday in order to identify the suspect. There has been no word yet about when or where the man was arrested. But Boston Police will be holding a public briefing at 5 p.m. today in order to reveal official information about the ongoing investigation. Stay tuned for additional details.

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[via CNN]