The E-mail Banking News
(Bank Regulatory News)
April 2013

April 30, 2013 - Comptroller Speaks at Manhattan College - Comptroller of the Currency Thomas J. Curry today spoke about bank supervision and regulation during a speech at Manhattan College. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-75.html

April 30, 2013 - Developing Small Businesses and Leveraging Resources in Detroit - ProfitWise News and Views summarizes October 2012 small business symposium that addressed access to small business credit and financing in Detroit. The discussion focused on opportunities and challenges, implications for small business borrowing, and strategies for leveraging capital and other resources. www.chicagofed.org/webpages/publications/profitwise_news_and_views/2013/pnv_apr2013.cfm

April 30, 2013 - Midwest Manufacturing Output Increased in March - The Chicago Fed Midwest Manufacturing Index increased 0.3% in March, to a seasonally adjusted level of 96.5. www.chicagofed.org/webpages/research/data/cfmmi/current_data.cfm

April 30, 2013 - NCUA Issues Prohibition Orders - The National Credit Union Administration has issued orders prohibiting the following individuals from participating in the affairs of any federally insured financial institution: www.ncua.gov/News/Pages/NW20130430Prohibition.aspx

April 30, 2013 - OCC Allows National Banks and Federal Savings Associations Affected by Flooding Along the Red River to Close - The Office of the Comptroller of the Currency today issued a proclamation allowing national banks and federal savings associations to close offices affected by the flooding along the Red River at their discretion. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-74.html

April 30, 2013 - OCC Assesses Civil Money Penalty Against RBS Citizens, N.A., Orders It to Make Restitution to 265,000 Customers - The Office of the Comptroller of the Currency today announced that it has assessed a $5 million civil money penalty against RBS Citizens, N.A., for violations of section 5 of the Federal Trade Commission Act, and ordered the bank to pay approximately $2.5 million in restitution to 265,000 affected customers.
www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-73.html

April 30, 2013 - FDIC Announces Settlement With Citizens Bank of Pennsylvania, Philadelphia, Pennsylvania, for Deceptive Practices - The Federal Deposit Insurance Corporation announced a settlement with Citizens Bank of Pennsylvania, Philadelphia, Pennsylvania, for deceptive practices in violation of Section 5 of the Federal Trade Commission Act. Under the settlement, CBPA has agreed to an Order for Restitution and Order to Pay Civil Money Penalty. The Order requires CBPA to pay a civil money penalty of $5.0 million and provide restitution of approximately $1.4 million to more than 75,000 affected consumers. www.fdic.gov/news/news/press/2013/pr13035.html

April 30, 2013 - Statistical Release - Finance Companies - G.20.  www.federalreserve.gov/releases/g20/current/g20.htm

April 29, 2013 - Low- to moderate-income conditions mixed in first quarter - Indicators of economic and financial conditions in the Tenth Federal Reserve District’s low- to moderate-income community were mixed during the first quarter, according to the Federal Reserve Bank of Kansas City’s quarterly LMI survey. www.kc.frb.org/publicat/newsroom/2013pdf/press.release.04.29.13.pdf

April 29, 2013 - Meredith B. Allen Joins St. Louis Fed’s Agribusiness Industry Council - Meredith B. Allen, president & CEO of Staple Cotton Cooperative Association, Greenwood, Miss., has been named to the Agribusiness Industry Council of the Federal Reserve Bank of St. Louis. www.stlouisfed.org/newsroom/displayNews.cfm?article=1769

April 29, 2013 - Regulatory Reform - Communications with the public through April 29, 2013.  www.federalreserve.gov/newsevents/reform_meetings.htm

April 29, 2013 - Payments to Goldman Sachs and Morgan Stanley borrowers covered by foreclosure agreement to begin May 3.   www.federalreserve.gov/newsevents/press/bcreg/20130429a.htm

April 26, 2013 - Hamilton State Bank, Hoschton, Georgia, Assumes All of the Deposits of Douglas County Bank, Douglasville, Georgia - Douglas County Bank, Douglasville, Georgia, was closed today by the Georgia Department of Banking & Finance, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Hamilton State Bank, Hoschton, Georgia, to assume all of the deposits of Douglas County Bank. www.fdic.gov/news/news/press/2013/pr13034.html

April 26, 2013 - Midwest Economic Growth Picked Up in March - The Midwest Economy Index was +0.27 in March, up from +0.21 in February. http://chicagofed.org/digital_assets/publications/mei/2013/mei_march2013.pdf

April 26, 2013 - Developing Small Businesses and Leveraging Resources in Detroit - Profitwise News and Views summarizes October 2012 small business symposium that addressed access to small business credit and financing in Detroit. The discussion focused on opportunities and challenges, implications for small business borrowing, and strategies for leveraging capital and other resources. www.chicagofed.org/webpages/publications/profitwise_news_and_views/2013/pnv_apr2013.cfm

April 26, 2013 - NCUA - National Credit Union Administration Board Member Michael E. Fryzel and National Association of Federal Credit Unions President and CEO Fred Becker today discussed important credit union industry issues during a panel discussion at NAFCU’s 2013 CEOs and Senior Executives Conference in Sonoma, Calif. www.ncua.gov/News/Pages/nw20130426FryzelNAFCU.aspx

April 26, 2013 - NCUA - National Credit Union Administration Board Chairman Debbie Matz made the following statement following the release of the Financial Stability Oversight Council’s 2013 Annual Report.  www.treasury.gov/initiatives/fsoc/studies-reports/Pages/2013-Annual-Report.aspx

April 26, 2013 - NCUA Announces 2013 Student Internship Grant Initiative - The National Credit Union Administration announced today that it is offering up to $80,000 in grants to low-income credit unions to hire student interns during the summer internship season. Credit unions interested in participating in the Student Internship Grant Initiative can apply online here. www.ncua.gov/News/Pages/NW20130426OSCUIGrants.aspx

April 26, 2013 - Office of the Comptroller of the Currency Recognizes National Financial Capability Month at Capitol Hill Event - The Office of the Comptroller of the Currency recognized National Financial Capability Month by participating in the annual Financial Literacy Day on Capitol Hill event today. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-72.html

April 26, 2013 - Independent Foreclosure Review Payments Exceed $1 Billion - More than one million people have cashed or deposited more than $1 billion in checks related to the Independent Foreclosure Review Payment Agreement through April 25. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-71.html

April 26, 2013 - FDIC Makes Public March Enforcement Actions; No Administrative Hearings Scheduled for May 2013.   www.fdic.gov/news/news/press/2013/pr13032.html

April 26, 2013 - Report to the Congress - Report to the Congress on the Use of the ACH System and Other Payment Mechanisms for Remittance Transfers to Foreign Countries . www.federalreserve.gov/publications/other-reports/files/ACH_report_201304.pdf

April 26, 2013 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

April 26, 2013 - The Federal Reserve plans to conduct fixed-rate offerings of term deposits with full allotment of tenders under the Term Deposit Facility as part of the ongoing program of small-value offerings announced on September 8, 2010. The Board had previously announced that it would consider various formats for the TDF as part of the development of the facility. www.federalreserve.gov/newsevents/press/monetary/20130426a.htm
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April 26, 2013 - FDIC Makes Public March Enforcement Actions; No Administrative Hearings Scheduled for May 2013- The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in March. No administrative hearings are scheduled for May 2013. http://www.fdic.gov/news/news/press/2013/pr13032.html

April 25, 2013 - Deputy Comptroller Speaks to Bankers About Risk - Deputy Comptroller for Operational Risk Carolyn DuChene today discussed the importance of a healthy risk culture in banks of all sizes during her speech before the American Bankers Association Risk Management Forum. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-70.html

April 25, 2013 - Format for Safety-and-Soundness Reports of Examination and Inspection for Community State Member Banks and Holding Companies Rated Composite "4" or "5" - The Federal Reserve is adopting a flexible, letter-format report in lieu of the standard, longer-form report for communicating the findings of on-site safety-and-soundness examinations and inspections of community banking organizations1 that result in composite supervisory ratings of “4” or “5.” www.federalreserve.gov/bankinforeg/srletters/sr1310.pdf

April 25, 2013 - Statement on Deposit Advance Products - The Federal Reserve is issuing the attached policy statement, Statement on Deposit Advance Products, to emphasize to state member banks the significant consumer risks associated with deposit advance products in light of the Consumer Financial Protection Bureau’s April 24, 2013 white paper entitled “Payday Loans and Deposit Advance Products: A White Paper of Initial Data Findings.”
Press Release: www.federalreserve.gov/bankinforeg/caletters/CA13-07.pdf
Press Release: www.fdic.gov/news/news/press/2013/pr13031.html
Press Release: www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-69.html

April 25, 2013 - Federal Reserve Board issues enforcement actions with Freedom Bancorporation and Freedom Bank of Oklahoma.   www.federalreserve.gov/newsevents/press/enforcement/20130425a.htm

April 24, 2013 - The Federal Reserve Board on Wednesday announced that the redesigned $100 note will begin circulating on October 8, 2013. This note, which incorporates new security features such as a blue, 3-D security ribbon, will be easier for the public to authenticate but more difficult for counterfeiters to replicate. www.federalreserve.gov/newsevents/press/other/20130424a.htm

April 23, 2013 - NCUA - Hagen Selected as NCUA Inspector General - National Credit Union Administration Board Chairman Debbie Matz today announced the selection of James Hagen as the agency’s next Inspector General. Hagen, the current Deputy Inspector General for Audit, will assume his new post June 1. He will succeed William DeSarno, who is retiring. www.ncua.gov/News/Pages/NW20130423Hagen.aspx

April 23, 2013 - Minimum Standards for Prioritization and Handling Borrower Files with Imminent Scheduled Foreclosure Sale.   www.federalreserve.gov/bankinforeg/srletters/sr1309.pdf

April 23, 2013 - Federal Reserve Board announces termination of enforcement action with Plumas Bancorp.   www.federalreserve.gov/newsevents/press/enforcement/20130423a.htm

April 22, 2013 - Economic Activity Slower in March - The Chicago Fed National Activity Index was –0.23 in March, down from +0.76 in February. http://chicagofed.org/digital_assets/publications/cfnai/2013/cfnai_april2013.pdf

April 22, 2013 - Federal Reserve, CSBS To Host Community Banking Research Conference in St. Louis in October - The Federal Reserve System and the Conference of State Bank Supervisors will host “Community Banking in the 21st Century,” an inaugural community banking research and policy conference to be held Oct. 2-3, 2013, at the Federal Reserve Bank of St. Louis. www.stlouisfed.org/newsroom/displayNews.cfm?article=1762

April 22, 2013 - Regulatory Reform - Communications with the public through April 22, 2013.  www.federalreserve.gov/newsevents/reform_meetings.htm

April 19, 2013 - OCC Appoints Receiver for First Federal Bank, Lexington, Kentucky - The Office of the Comptroller of the Currency today appointed the Federal Deposit Insurance Corporation as receiver for First Federal Bank, Lexington, Kentucky. As of December 31, 2012, the institution had approximately $100 million in total assets. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2012-68.html

April 19, 2013 - First Federal Bank of Florida, Lake City, Florida, Assumes All of the Deposits of Chipola Community Bank, Marianna, Florida - Chipola Community Bank, Marianna, Florida, was closed today by the Florida Office of Financial Regulation, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with First Federal Bank of Florida, Lake City, Florida, to assume all of the deposits of Chipola Community Bank. www.fdic.gov/news/news/press/2013/pr13030.html 

April 19, 2013 - FirstAtlantic Bank, Jacksonville, Florida, Assumes All of the Deposits of Heritage Bank of North Florida, Orange Park, Florida - Heritage Bank of North Florida, Orange Park, Florida, was closed today by the Florida Office of Financial Regulation, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with FirstAtlantic Bank, Jacksonville, Florida, to assume all of the deposits of Heritage Bank of North Florida. www.fdic.gov/news/news/press/2013/pr13029.html

April 19, 2013 - NCUA Names Avalos Region IV Associate Director - The National Credit Union Administration (NCUA) Chairman Debbie Matz announced the selection of Milagro “Millie” Avalos to be Associate Regional Director - Programs for the agency’s Region IV office in Austin, Texas. www.ncua.gov/News/Pages/NW20130419Avalos.aspx

April 19, 2013 - OCC Enforcement Actions - The Office of the Comptroller of the Currency today released new enforcement actions taken against national banks, federal savings associations, and individuals currently and formerly affiliated with national banks and federal savings associations. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-67.html

April 19, 2013 - Status of Independent Foreclosure Review Payments - The second wave of 1.4 million checks totaling $1.2 billion was sent today to borrowers eligible for payments under the Independent Foreclosure Review Payment Agreement, bringing the total number of checks sent to date to 2.8 million worth $2.4 billion. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-66.html

April 19, 2013 - Your Community Bank, New Albany, Indiana, Assumes All of the Deposits of First Federal Bank, Lexington, Kentucky - First Federal Bank, Lexington, Kentucky, was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Your Community Bank, New Albany, Indiana, to assume all of the deposits of First Federal Bank. www.fdic.gov/news/news/press/2013/pr13028.html

April 19, 2013 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

April 19, 2013 - Governor Jeremy C. Stein - Liquidity Regulation and Central Banking - At the "Finding the Right Balance" 2013 Credit Markets Symposium sponsored by the Federal Reserve Bank of Richmond, Charlotte, North Carolina www.federalreserve.gov/newsevents/speech/stein20130419a.htm
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April 18, 2013 - Governor Sarah Bloom Raskin - Aspects of Inequality in the Recent Business Cycle - At the "Building a Financial Structure for a More Stable and Equitable Economy" 22nd Annual Hyman P. Minsky Conference on the State of the U.S. and World Economies, New York, New York.   www.federalreserve.gov/newsevents/speech/raskin20130418a.htm

April 18, 2013 - Federal Reserve Board announces enforcement action with Metropolitan Bank Group and termination of enforcement action with IT & S of Iowa.  www.federalreserve.gov/newsevents/press/enforcement/20130418a.htm

April 17, 2013 - Office of the Comptroller of the Currency Hosts Workshops in South Carolina - The Office of the Comptroller of the Currency will host two workshops in Columbia, S.C., at the Columbia Marriott Hotel, May 21-22, for directors of national community banks and federal savings associations. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-65.html

April 17, 2013 - Federal Reserve Releases April Beige Book and Related Sound Clip - Audio highlights of the Federal Reserve's Beige Book, which summarize economic conditions for the United States as a whole and the Fed's Eighth District, are available for downloading. www.stlouisfed.org/newsroom/displayNews.cfm?article=1757

April 17, 2013 - St. Louis Fed's Bullard Discusses Whether the Fed Should "Put More Weight" on Unemployment - Federal Reserve Bank of St. Louis President James Bullard gave remarks Wednesday on “Some Unpleasant Implications for Unemployment Targeters” at the 22nd Annual Hyman P. Minsky Conference. www.stlouisfed.org/newsroom/displayNews.cfm?article=1751

April 17, 2013 - The State Liaison Committee of the Federal Financial Institutions Examination Council announced today the election of David J. Cotney as its Chairman. www.ffiec.gov/press/pr041713.htm

April 17, 2013 - Beige Book - Informal review by the Federal Reserve Banks of current economic conditions in their Districts.   www.federalreserve.gov/monetarypolicy/beigebook/beigebook201304.htm

April 17, 2013 - Financial Stability Monitoring - Tobias Adrian, Daniel Covitz, and Nellie Liang - While the Dodd Frank Act broadens the regulatory reach to reduce systemic risks to the U.S. financial system, it does not address some important risks that could migrate to or emanate from entities outside the federal safety net. www.federalreserve.gov/pubs/feds/2013/201321/201321pap.pdf

April 17, 2013 - Governor Jeremy C. Stein - Regulating Large Financial Institutions - At the "Rethinking Macro Policy II," a conference sponsored by the International Monetary Fund, Washington, D.C. www.federalreserve.gov/newsevents/speech/stein20130417a.htm

April 17, 2013 - Federal Reserve provides information on checks sent under Independent Foreclosure Review Payment Agreement - The paying agent for checks being sent to borrowers under the Independent Foreclosure Review has assured the Federal Reserve Board that early problems with some checks have been corrected and that funds are available to cash all checks. www.federalreserve.gov/newsevents/press/bcreg/20130417a.htm

April 16, 2013 - NCUA Hosting Credit Union Marketing Webinar - The National Credit Union Administration’s Office of Small Credit Union Initiatives is hosting a free webinar, “Driving the Bottom Line: Results through Marketing” on Tuesday, April 23, at 2 p.m. Eastern.
www.ncua.gov/News/Pages/NW20130416Webinar.aspx

April 16, 2013 - NCUA Awards $50,000 Collaboration Grant to South Carolina Credit Unions - A group of South Carolina credit unions are collaborating on a groundbreaking project to improve talent management with the support of a $50,000 National Credit Administration collaboration grant. www.ncua.gov/News/Pages/NW20130415NCUAAwardsGrant.aspx

April 16, 2013 - Comptroller Speaks at the 2013 Hope Forum in Atlanta - Comptroller of the Currency Thomas J. Curry today spoke at the 2013 Hope Forum sponsored by Operation Hope. During the remarks, he highlighted the importance of financial literacy, economic empowerment, and the Community Reinvestment Act. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-63.html

April 16, 2013 - Vice Chair Janet L. Yellen - Panel Discussion on "Monetary Policy: Many Targets, Many Instruments. Where Do We Stand?" - At the "Rethinking Macro Policy II," a conference sponsored by the International Monetary Fund, Washington, D.C. www.federalreserve.gov/newsevents/speech/yellen20130416a.htm

April 16, 2013 - Scott G. Alvarez, General Counsel - Too Big to Fail - Before the Committee on Financial Services, Subcommittee on Oversight and Investigations, U.S. House of Representatives, Washington, D.C. www.federalreserve.gov/newsevents/testimony/alvarez20130416a.htm

April 16, 2013 - Minutes of the Board's discount rates meetings from February 11 through March 18, 2013.   www.federalreserve.gov/newsevents/press/monetary/20130416a.htm

April 15, 2013 - Office of the Comptroller of the Currency Hosts Workshops in California - The Office of the Comptroller of the Currency will host two workshops in San Jose, Calif., at the Dolce Hayes Mansion, May 14-15, for directors of national community banks and federal savings associations. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-62.html

April 15, 2013 - April Issue of St. Louis Fed’s The Regional Economist Now Available - The April 2013 issue of The Regional Economist, the Federal Reserve Bank of St. Louis’ quarterly review of business and economic conditions, is now available. www.stlouisfed.org/newsroom/displayNews.cfm?article=1748

April 15, 2013 - Agencies Provide Additional Instructions for Submission of Some Resolution Plans - The Federal Reserve Board and the Federal Deposit Insurance Corporation on Monday announced the release of additional guidance, clarification and direction for the first group of institutions filing their resolutions plans pursuant to the Dodd-Frank Act. www.fdic.gov/news/news/press/2013/pr13027.html

April 15, 2013 - Regulatory Reform - Communications with the public through April 15, 2013.  www.federalreserve.gov/newsevents/reform_meetings.htm

April 15, 2013 - Agencies Provide Additional Instructions for Submission of Some Resolution Plans - The Federal Reserve Board and the Federal Deposit Insurance Corporation on Monday announced the release of additional guidance, clarification and direction for the first group of institutions filing their resolutions plans pursuant to the Dodd-Frank Act. www.federalreserve.gov/newsevents/press/bcreg/20130415c.htm

April 15, 2013 - The Federal Reserve Board on Monday invited comment on a proposal to establish an annual assessment of bank holding companies and savings and loan holding companies with $50 billion or greater in total consolidated assets and for nonbank financial companies designated by the Financial Stability Oversight Council for supervision by the Federal Reserve. www.federalreserve.gov/newsevents/press/bcreg/20130415a.htm

April 12, 2013 - The NCUA Report for April 2013 Now Available.  www.ncua.gov/News/NewsLtrs/Pages/default.aspx

April 12, 2013 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

April 12, 2013 - Chairman Ben S. Bernanke - Creating Resilient Communities - At the "Resilience and Rebuilding for Low-Income Communities: Research to Inform Policy and Practice" Federal Reserve System Community Affairs Research Conference, Washington, D.C. www.federalreserve.gov/newsevents/speech/bernanke20130412a.htm
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April 11, 2013 - Deputy Chief Counsel Discusses Use of Consultants in Regulatory Enforcement Actions.  www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-61.html

April 11, 2013 - NCUA Leadership Ranks among the Best - While confidence among federal employees in their leaders is declining at many agencies, National Credit Union Administration employees continue to rate leadership highly, according to newly released data from the Partnership for Public Service. www.ncua.gov/News/Pages/NW20130411NCUALeadership.aspx

April 10, 2013 - Testimony by Richard M. Ashton, Deputy General Counsel Independent Consultants - Before the Subcommittee on Financial Institutions and Consumer Protection, Committee on Banking, Housing, and Urban Affairs, U.S. Senate, Washington, D.C.
www.federalreserve.gov/newsevents/testimony/ashton20130411a.htm

April 10, 2013 - The Growing Importance of Mexico in North America’s Auto Production - Chicago Fed Letter explores the recent rapid expansion of Mexico’s auto production and exports. www.chicagofed.org/digital_assets/publications/chicago_fed_letter/2013/cflmay2013_310.pdf

April 10, 2013 - Taxation of Human Capital and Wage Inequality: A Cross-Country Analysis - Fatih Guvenen, Burhanettin Kuruscu, and Serdar Ozkan - Wage inequality has been significantly higher in the United States than in continental European countries since the 1970s. Moreover, this inequality gap has further widened during this period as the US has experienced a large increase in wage inequality, whereas the CEU has seen only modest changes. www.federalreserve.gov/pubs/feds/2013/201320/201320pap.pdf

April 10, 2013 - The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on March 19-20, 2013. A summary of economic projections made by Federal Reserve Board members and Reserve Bank presidents for the March 19-20, 2013 meeting is also included as an addendum to these minutes. www.federalreserve.gov/newsevents/press/monetary/20130410a.htm

April 9, 2013 - Banker Teleconference Series - Timely and Comprehensive Compliance Information and Insights from the FDIC - Staff from the FDIC's Division of Depositor and Consumer Protection (DCP) will host several nationwide banker teleconferences during 2013 to maintain open lines of communication and to update you and your staff on important banking regulatory and emerging issues in the compliance and consumer protection area.   www.fdic.gov/news/news/financial/2013/fil13017.html

April 9, 2013 - A Robust Neighborhood Truncation Approach to Estimation of Integrated Quarticity - Torben G. Andersen, Dobrislav Dobrev, and Ernst Schaumburg - We provide a first in-depth look at robust estimation of integrated quarticity based on high frequency data. IQ is the key ingredient enabling inference about volatility and the presence of jumps in financial time series and is thus of considerable interest in applications. www.federalreserve.gov/pubs/ifdp/2013/1078/ifdp1078.pdf

April 9, 2013 - On Returns Differentials - Stephanie E. Curcuru, Charles P. Thomas, and Francis E. Warnock - Estimates of U.S. returns differentials have ranged from exorbitant to quite small, in part because of their volatility coupled with the relatively short time series available.   www.federalreserve.gov/pubs/ifdp/2013/1077/ifdp1077.pdf

April 9, 2013 - Revenge of the Steamroller: ABCP as a Workflow on Risk Choices - Carlos Arteta, Mark Carey, Ricardo Correa, and Jason Kotter - We empirically examine financial institutions' motivations to take systematic bad-tail risk in the form of sponsorship of credit-arbitrage asset-backed commercial paper vehicles.  www.federalreserve.gov/pubs/ifdp/2013/1076/ifdp1076.pdf

April 9, 2013 - Payments to 4.2 Million Borrowers Covered by Foreclosure Agreement to Begin April 12 - Payments to 4.2 million borrowers are scheduled to begin on April 12 following an agreement reached by the Office of the Comptroller of the Currency and the Federal Reserve Board with 13 mortgage servicers.
Press Release: www.federalreserve.gov/newsevents/press/bcreg/20130409a.htm
Press Release: www.occ.gov/news-issuances/news-releases/2013/nr-ia-2013-60.html

April 8, 2013 - Chairman Ben S. Bernanke - Stress Testing Banks: What Have We Learned? - At the "Maintaining Financial Stability: Holding a Tiger by the Tail" financial markets conference sponsored by the Federal Reserve Bank of Atlanta, Stone Mountain, Georgia.   www.federalreserve.gov/newsevents/speech/bernanke20130408a.htm

April 8, 2013 - Regulatory Reform - Communications with the public through April 8, 2013.  www.federalreserve.gov/newsevents/reform_meetings.htm

April 5, 2013 - State Member Bank Branching Considerations.  www.federalreserve.gov/bankinforeg/srletters/sr1307.pdf

April 5, 2013 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

April 5, 2013 - Legal Interpretations - Bank Holding Companies/Savings and Loan Holding Companies/Change in Control 2013 Letters.   www.federalreserve.gov/bankinforeg/LegalInterpretations/bhc_changeincontrol2013.htm

April 5, 2013 - The Federal Open Market Committee on Friday announced its tentative meeting schedule for 2014: www.federalreserve.gov/newsevents/press/monetary/20130405a.htm

April 5, 2013 - First Scottsdale Bank, National Association, Scottsdale, Arizona, Assumes All of the Deposits of Gold Canyon Bank, Gold Canyon, Arizona - Gold Canyon Bank, Gold Canyon, Arizona, was closed today by the Arizona Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with First Scottsdale Bank, National Association, Scottsdale, Arizona, to assume all of the deposits of Gold Canyon Bank. http://www.fdic.gov/news/news/press/2013/pr13026.html _________________

April 4, 2013 - FDIC Issues List of Banks Examined for CRA Compliance - The Federal Deposit Insurance Corporation today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act.  www.fdic.gov/news/news/press/2013/pr13025.html

April 4, 2013 - Speech by Vice Chair Janet L. Yellen - Communication in Monetary Policy.  www.federalreserve.gov/newsevents/speech/yellen20130404a.htm

April 4, 2013 - Surveys and Reports - Senior Credit Officer Opinion Survey on Dealer Financing Terms, March 2013 - The Senior Credit Officer Opinion Survey on Dealer Financing Terms is a quarterly survey providing information about the availability and terms of credit in securities financing and over-the counter derivatives markets. www.federalreserve.gov/econresdata/releases/scoos.htm

April 4, 2013 - Chairman Ben S. Bernanke - Financial and Economic Education - At the 13th Annual Redefining Investment Strategy Education Forum, Dayton, Ohio.  www.federalreserve.gov/newsevents/speech/20130404a.htm

April 4, 2013 - Federal Reserve Board finalizes standards for Fed-regulated banks engaged in certain types of foreign exchange transactions with retail customers.  www.federalreserve.gov/newsevents/press/bcreg/20130404a.htm

April 4, 2013 - Federal Reserve Board announces enforcement action with HSH Nordbank AG.   www.federalreserve.gov/newsevents/press/enforcement/20130404a.htm

April 3, 2013 - Update on Financial Conditions - Both the NFCI and ANFCI continued to indicate looser-than-average financial conditions in the week ending March 29. www.chicagofed.org/webpages/publications/nfci/index.cfm

April 3, 2013 - OCC Releases OCC/Fed Joint Study on 2006 CRE Concentration Guidance - Banks with high concentrations of construction and total commercial real estate lending that exceeded supervisory criteria failed at higher rates than banks with lower concentrations, according to a white paper published today by the Office of the Comptroller of the Currency and the Federal Reserve Board. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-59.html

April 3, 2013 - Dialogue with the Fed on U.S. Fiscal Sustainability To Be Webcast Live on April 8 - The Federal Reserve Bank of St. Louis will offer a live webcast of the first Dialogue with the Fed of 2013, "Achieving Long-Run Fiscal Sustainability," on Monday, April 8, from 6 p.m.-7:30 p.m. www.stlouisfed.org/newsroom/displayNews.cfm?article=1727

April 3, 2013 - FDIC Releases Technical Assistance Videos - The Federal Deposit Insurance Corporation announced today the release of the first in a series of technical assistance videos to provide useful information to bank directors, officers, and employees on areas of supervisory focus and proposed regulatory changes. www.fdic.gov/news/news/press/2013/pr13024.html

April 3, 2013 - The Ins and Outs of Forecasting Unemployment: Using Labor Force Flows to Forecast the Labor Market Regis Barnichon and Christopher J. Nekarda - This paper presents a forecasting model of unemployment based on labor force. www.federalreserve.gov/pubs/feds/2013/201319/201319pap.pdf

April 3, 2013 - Supervisory Staff Reports - An Analysis of the Impact of the Commercial Real Estate Concentration Guidance - This paper analyzes aspects of the interagency guidance issued in 2006, titled "Concentrations in Commercial Real Estate Lending, Sound Risk Management Practices."  www.federalreserve.gov/bankinforeg/cre-20130403a.pdf

April 3, 2013 - Federal Reserve Board approves final rule establishing requirements for determining when a company is "predominantly engaged in financial activities." www.federalreserve.gov/newsevents/press/bcreg/20130403a.htm

April 2, 2013 - NCUA Offers New Online Financial Literacy Resources for Consumers of All Ages - New Financial Education Game Also Makes Learning Fun for Younger Savers- Consumers now have more online information from the National Credit Union Administration to help them make better financial decisions, including a new financial education tool for youngsters. www.ncua.gov/News/Pages/NW20130402FinancialLiteracy.aspx

April 2, 2013 - NCUA Recoveries for Corporate Credit Union Losses Top $335 Million - The National Credit Union Administration today announced a settlement with Bank of America and certain of its subsidiaries for $165 million for losses related to purchases of residential mortgage-backed securities by failed corporate credit unions. www.ncua.gov/News/Pages/NW20130402BOA.aspx

April 1, 2013 - OCC Releases CRA Evaluations for 37 National Banks and Federal Savings Associations.  www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-58.html

April 1, 2013 - The Federal Financial Institutions Examination Council announced today the appointment of three new members of the Council’s State Liaison Committee. The two-year terms for these SLC members run from April 1, 2013 through March 31, 2015. www.ffiec.gov/press/pr040113_2.htm

April 1, 2013 - The Federal Financial Institutions Examination Council member agencies today announced that Thomas J. Curry, Comptroller of the Currency, Office of the Comptroller of the Currency, has been named Chairman of the Federal Financial Institutions Examination Council.
Press Release: www.ffiec.gov/press/pr040113.htm
Press Release: www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-57.html

April 1, 2013 - Regulatory Reform - Communications with the public through April 1, 2013.  www.federalreserve.gov/newsevents/reform_meetings.htm

April 1, 2013 - Asymmetric Information and the Death of ABS CDOs - Daniel O. Beltran, Larry Cordell, and Charles P. Thomas - A key feature of the 2007 financial crisis is that for some classes of securities trade has practically ceased.  www.federalreserve.gov/pubs/ifdp/2013/1075/ifdp1075.pdf

April 1, 2013 - Statistical Release - Foreign Exchange Rates -- G.5 Monthly.  www.federalreserve.gov/releases/g5/current/default.htm