The E-mail Banking News
(Bank Regulatory News)
April 2015

FYI - Don't forget to follow me on LinkedIn at https://www.linkedin.com/in/yennik where I post a weekly question on IT and cybersecurity auditing.

April 30, 2015 - Index shows Midwest economic growth steady in March - The Midwest Economy Index edged down to +0.39 in March from +0.44 in February. The relative MEI rose to +0.84 in March from +0.54 in February.  www.chicagofed.org/publications/mei/indexwww.chicagofed.org/~/media/publications/mei/2015/mei-march2015-pdf.pdf?la=en

April 30, 2015 - Job Switching and Wage Growth - Chicago Fed Letter shows a strong relationship between job switching and nominal wage growth and finds that job switching seems to be predictive of both wage growth and inflation. www.chicagofed.org/~/media/publications/chicago-fed-letter/2015/cfl337-pdf.pdf

April 30, 2015 - Community National Banks and Federal Savings Associations in the South Show Improving Financial Performance and Accelerated Loan - The Office of the Comptroller of the Currency today reported improving conditions among community national banks and federal savings associations in the nine states that make up the OCC’s Southern District. www.occ.gov/news-issuances/news-releases/2015/nr-occ-2015-63.html

April 30, 2015 - Financial Market Stress Falls for the Sixth Consecutive Week - Financial market stress declined for the sixth consecutive week, according to the St. Louis Fed Financial Stress Index. For the week ending April 24, 2015, the STLFSI measured -1.232, down modestly from the previous week’s revised value of -1.202.  www.stlouisfed.org/news-releases/2015/04/30/financial-market-stress-falls-for-the-sixth-consecutive-week

April 30, 2015 - Revised Interagency Examination Procedures for Regulation Z and Regulation X - The Task Force on Consumer Compliance of the Federal Financial Institutions Examination Council recently developed the attached interagency examination procedures for Regulation Z – Truth in Lending and Regulation X – Real Estate Settlement Procedures Act .  www.federalreserve.gov/bankinforeg/caletters/caltr1503.htm

April 30, 2015 - Governor Daniel K. Tarullo - Tailoring Community Bank Regulation and Supervision - At the Independent Community Bankers of America 2015 Washington Policy Summit , Washington, D.C. www.federalreserve.gov/newsevents/speech/tarullo20150430a.htm

April 30, 2015 - Agencies issue final rule on minimum requirements for appraisal management companies - Six federal financial regulatory agencies today issued a final rule that implements minimum requirements for state registration and supervision of appraisal management companies.
Press Release: www.federalreserve.gov/newsevents/press/bcreg/20150430a.htm
Press Release: www.fdic.gov/news/news/press/2015/pr15037.html
Press Release: www.fdic.gov/news/news/financial/2015/fil15019.html
Press Release: www.occ.gov/news-issuances/news-releases/2015/nr-ia-2015-64.html
Press Release: www.ncua.gov/News/Pages/NW20150430AMCRule.aspx

April 30, 2015 - Federal Reserve Board releases its Semiannual Report on Banking Applications Activity - The Federal Reserve Board on Thursday released its Semiannual Report on Banking Applications Activity, which provides aggregate information on proposals filed by banking organizations and reviewed by the Federal Reserve. www.federalreserve.gov/newsevents/press/other/20150430a.htm

April 30, 2015 - Federal Reserve Board issues termination of enforcement action with Southeastern Financial, Inc. www.federalreserve.gov/newsevents/press/enforcement/enf20150430.htm

April 30, 2015 - NCUA Issues Prohibition Orders - The National Credit Union Administration has issued two orders in April prohibiting the following individuals from participating in the affairs of any federally insured financial institution: www.ncua.gov/News/Pages/NW20150430Prohibition.aspx

April 30, 2015 - NCUA Board Eases Membership Rule - Board Action Bulletin - New Share Insurance Coverage Proposed for Certain Escrow Accounts - The National Credit Union Administration Board convened its fourth open meeting of 2015 at the agency’s headquarters today and approved five items: www.ncua.gov/about/Pages/Board%20Actions/BAB20150430.aspx

April 29, 2015 - NCUA Hosting Cybersecurity Webinar - Learn More about Cyber-Threats and Taking Precautions at Credit Unions - Credit unions can get up-to-date information on cybersecurity and deterring cybercrime on a webinar hosted by the National Credit Union Administration on Wednesday, May 20. The webinar, “Cybersecurity Basics,” will begin at 2 p.m.   www.ncua.gov/News/Pages/NW20150429CybersecurityWebinar.aspx

April 29, 2015 - Structure and Share Data for U.S. Banking Offices of Foreign Entities - Data are collected as of the end of the month for March, June, September and December, and generally are released three months later. www.federalreserve.gov/releases/IBA/default.htm

April 29, 2015 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at 1:00 PM on April 28, 2015, under expedited procedures. Matter(s) considered: Discussion of Medium-Term Monetary Policy Issues. www.federalreserve.gov/aboutthefed/boardmeetings/20150429exp.htm

April 29, 2015 - Federal Reserve issues FOMC statement - Information received since the Federal Open Market Committee met in March suggests that economic growth slowed during the winter months, in part reflecting transitory factors. www.federalreserve.gov/newsevents/press/monetary/20150429a.htm

April 28, 2015 - NCUA - March NCUA Board Video Now Available - The video recording of the March 2015 open meeting of the National Credit Union Administration Board is now available on the agency’s website. www.ncua.gov/News/Pages/NW20150428MarchBoardVideo.aspx

April 28, 2015 - Statistical Release - Finance Companies - G.20.  www.federalreserve.gov/releases/g20/Current/

April 28, 2015 - Federal Reserve Board issues termination of enforcement actions with First Independence Corporation, FirsTier II Bancorp, and Dickinson Financial Corporation II and Dickinson Financial Corporation.  www.federalreserve.gov/newsevents/press/enforcement/enf20150428.htm

April 27, 2015 - Testimony by Mark E. Van Der Weide, Deputy Director, Division of Banking Supervision and Regulation Insurance Regulation.   www.federalreserve.gov/newsevents/testimony/vanderweide20150428a.htm

April 27, 2015 - Michael Brickman Named Deputy Comptroller for Thrift Supervision - Comptroller of the Currency Thomas J. Curry today designated Michael Brickman as Deputy Comptroller for Thrift Supervision. www.occ.gov/news-issuances/news-releases/2015/nr-occ-2015-62.html

April 27, 2015 - OCC Hosts North Carolina Workshop for Bank Directors - The Office of the Comptroller of the Currency will host a workshop in Raleigh, N.C., at the Hilton North Raleigh/Midtown, June 8-10, for directors of national community banks and federal savings associations. www.occ.gov/news-issuances/news-releases/2015/nr-occ-2015-61.html

April 27, 2015 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at 11:15 AM on April 27, 2015, under expedited procedures. Matter(s) considered: Review and determination by the Board of Governors of the advance and discount rates to be charged by the Federal Reserve Banks. www.federalreserve.gov/aboutthefed/boardmeetings/20150427exp.htm

April 24, 2015 - 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/2015/nr-occ-2015-60.html

April 24, 2015 - FDIC Makes Public March Enforcement Actions; No Administrative Hearings Scheduled for May 2015 - The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in March.  www.fdic.gov/news/news/press/2015/pr15036.html

April 23, 2015 - Maryann F. Hunter, Deputy Director, Division of Banking Supervision and Regulation - Community Bank Regulations - Before the Subcommittee on Financial Institutions and Consumer Credit, Committee on Financial Services, U.S. House of Representatives, Washington, D.C. www.federalreserve.gov/newsevents/testimony/hunter20150423a.htm
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April 24, 2015 - FDIC Makes Public March Enforcement Actions - 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 2015. https://www.fdic.gov/news/news/press/2015/pr15036.html

April 23, 2015 - NCUA - Agenda for the April 30, 2015 Board Meeting Now Available.  www.ncua.gov/about/Pages/Agendas/AG20150430.aspx

April 23, 2015 - NCUA - Montgomery County Credit Union Conserved - Member Deposits Protected up to $250,000; Member Services Uninterrupted - The Superintendent of the Ohio Division of Financial Institutions today placed Montgomery County Credit Union, Inc., located in Dayton, Ohio, into conservatorship and appointed the National Credit Union Administration as agent for the conservator. www.ncua.gov/News/Pages/NW20150423Conservatorship.aspx

April 23, 2015 - NCUA Committed to Regulatory Relief - Fazio Testifies on Easing Regulation, Urges Congress to Provide Flexibility - The National Credit Union Administration works hard to provide regulatory relief and supports several bills that would give credit unions greater flexibility, the agency told the House Financial Institutions and Consumer Credit Subcommittee today. www.ncua.gov/News/Pages/NW20150423RegulatoryRelief.aspx

April 23, 2015 - Senior Deputy Comptroller Discusses Efforts to Address Challenges Facing Community Banks and Thrifts - Senior Deputy Comptroller for Midsize and Community Bank Supervision Toney Bland in testimony before Congress today discussed the challenges facing small national banks and federal savings associations and the work of the Office of the Comptroller of the Currency to help these institutions remain a vibrant part of our nation’s financial system. http://www.occ.gov/news-issuances/news-releases/2015/nr-occ-2015-59.html

April 23, 2015 - Financial Market Stress Declines for Fifth Consecutive Week - The St. Louis Fed Financial Stress Index measured -1.198 for the week ending April 17. The STLFSI declined for the fifth consecutive week and remained at its lowest level since the week ending Nov. 28, 2014.   www.stlouisfed.org/news-releases/2015/04/23/financial-market-stress-declines-for-fifth-consecutive-week

April 23, 2015 - New Resources for Teachers, Parents, and Caregivers to Strengthen Youth Financial Education - The Federal Deposit Insurance Corporation today launched Money Smart for Young People, a series of lesson plans for teachers and new resources for parents to help them teach children about managing money.  www.fdic.gov/news/news/press/2015/pr15035.html

April 23, 2015 - Advanced Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System at 12:00 PM on April 27, 2015, will be held under expedited procedures. Matter(s) considered: Review and determination by the Board of Governors of the advance and discount rates to be charged by the Federal Reserve Banks. www.federalreserve.gov/aboutthefed/boardmeetings/20150427advexp.htm

April 23, 2015 - Maryann F. Hunter, Deputy Director, Division of Banking Supervision and Regulation - Community Bank Regulations - Before the Subcommittee on Financial Institutions and Consumer Credit, Committee on Financial Services, U.S. House of Representatives, Washington, D.C. www.federalreserve.gov/newsevents/testimony/hunter20150423a.htm

April 23, 2015 - Federal Reserve Board issues termination of enforcement actions with Flathead Holding Company, PNBK Sponsor LLC, PNBK Investment Partners LLC, PNBK Holdings LLC, and Patriot National Bancorp, Inc. www.federalreserve.gov/newsevents/press/enforcement/enf20150423.htm

April 22, 2015 - Economic Growth Slowed in March - The Chicago Fed National Activity Index was -0.42 in March, down from -0.18 in February. - Led by declines in production-related indicators, the Chicago Fed National Activity Index moved down to –0.42 in March from –0.18 in February.   www.chicagofed.org/~/media/publications/cfnai/2015/cfnai-april2015-pdf.pdf?la=en

April 22, 2015 - NCUA Board Reschedules Closed Meeting - National Credit Union Administration Board members have agreed to reschedule the closed Board meeting set for Thursday, April 30, 2015. - The closed Board meeting will now be held on Wednesday, April 29, beginning at 2:30 p.m.  www.ncua.gov/News/Pages/NW20150422BoardMeeting.aspx

April 22, 2015 - NCUA - Matz: Green a Part of NCUA’s Culture - Chairman Cites Environmental Stewardship on Earth Day 2015 - On the forty-fifth observation of Earth Day, National Credit Union Administration Board Chairman Debbie Matz said environmental responsibility continues to be an essential part of the agency’s culture. www.ncua.gov/News/Pages/NW20150422EarthDay.aspx

April 22, 2015 - OCC Hosts Detroit Workshops on Risk Governance and Credit Risk - The Office of the Comptroller of the Currency will host two workshops in Detroit at the DoubleTree Suites Downtown, June 2-3, for directors of national community banks and federal savings associations. www.occ.gov/news-issuances/news-releases/2015/nr-occ-2015-58.html

April 21, 2015 - Economic Growth Slowed in March - The Chicago Fed National Activity Index was -0.42 in March, down from -0.18 in February.   www.chicagofed.org/publications/cfnai/index

April 21, 2015 - NCUA - April NCUA Report Now Available - The National Credit Union Administration announced today the April 2015 issue of The NCUA Report is now available online. www.ncua.gov/News/Pages/NW20150420AprilNCUAReport.aspx

April 21, 2015 - FDIC Seeks Comment on Potential New Deposit Account Records Requirements for Banks with a Large Number of Deposits - The Federal Deposit Insurance Corporation seeks input on potential new recordkeeping standards for a limited number of FDIC-insured institutions with a large number of deposit accounts.   www.fdic.gov/news/news/press/2015/pr15034.html

April 20, 2015 - Federal Reserve Board announces approval of applications by Chemical Financial Corporation - The Federal Reserve Board on Monday announced its approval of the application under section 3 of the Bank Holding Company Act by Chemical Financial Corporation, Midland, to merge with Lake Michigan Financial Corporation, Holland, and thereby indirectly acquire its wholly owned subsidiaries, The Bank of Holland, Holland, and The Bank of Northern Michigan, Petoskey, all of Michigan. www.federalreserve.gov/newsevents/press/other/20150420a.htm

April 20, 2015 - St. Louis Fed Publication Focuses on Trends in International Trade - The latest issue of The Regional Economist, a publication of the Federal Reserve Bank of St. Louis, explores trends in and prospects for international trade. www.stlouisfed.org/news-releases/2005/04/20/publication-focuses-on-trends-in-international-trade

April 20, 2015 - FDIC Announces Phase II of the Youth Savings Pilot Program - FDIC-insured institutions are invited to apply to participate in Phase II of the FDIC's Youth Savings Pilot Program, which seeks to identify and highlight promising approaches to offering financial education tied to the opening of safe, low-cost savings accounts for school-aged children.  www.fdic.gov/news/news/financial/2015/fil15018.html 

April 20, 2015 - FDIC Announces Phase II of the Youth Savings Pilot Program - FDIC Solicits Participation for the 2015-2016 School Year The Federal Deposit Insurance Corporation is seeking applications from institutions for its Youth Savings Pilot, a program designed to foster financial education through the opening of safe, low-cost savings accounts by school-age children. www.fdic.gov/news/news/press/2015/pr15033.html

April 20, 2015 - Notice of a Meeting under Expedited Procedures - On Monday, April 20, 2015 at 1:30 PM, a meeting of the Board of Governors of the Federal Reserve System was held under expedited procedures, as set forth in section 26lb.7 of the Board's Rules Regarding Public Observation of Meetings, at the Board's offices at 20th and C Streets, N.W., Washington, D.C., to consider the following matters of official Board business.   www.federalreserve.gov/aboutthefed/boardmeetings/20150420exp.htm

April 20, 2015 - Legal Developments - Orders Issued under the Bank Merger Act, Federal Deposit Insurance Act, Federal Reserve Act, and International Banking Act, 2015.  www.federalreserve.gov/bankinforeg/legaldevelopments/ordersother2015.htm

April 20, 2015 - Defined-Contribution Pension Plans for State and Local Government Employees in the Financial Accounts of the United States - Matthew Hoops, Irina Stefanescu, and Ivan Vidangos - State and local governments have traditionally sponsored defined-benefit retirement plans for their workers.    www.federalreserve.gov/econresdata/notes/feds-notes/2015/defined-contribution-pension-plans-for-state-and-local-government-employees-20150420.html

April 17, 2015 - NCUA - McWatters Calls for Industry Participation on Critical Issues - National Credit Union Administration Board Member J. Mark McWatters told credit union leaders from Colorado and Wyoming their ideas are important to his ability to be an effective regulator. www.ncua.gov/News/Pages/NW20150417McWattersIndustry.aspx

April 17, 2015 - OCC Enforcement Actions and Terminations for April 2015 - 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/2015/nr-occ-2015-57.html

April 17, 2015 - Federal Open Market Committee - 2009 Meeting Agendas and SEP Individual Projections.   www.federalreserve.gov/monetarypolicy/fomchistorical2009.htm

April 17, 2015 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update - Since the beginning of the financial market turmoil in August 2007, the Federal Reserve's balance sheet has grown in size and has changed in composition.  www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

April 17, 2015 - Federal Reserve Board releases additional information on operating structure of Large Institution Supervision Coordinating Committee supervisory program - The Federal Reserve Board on Friday released additional information on the operating structure of the Large Institution Supervision Coordinating Committee supervisory program.  www.federalreserve.gov/newsevents/press/bcreg/20150417a.htm
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April 16, 2015 - Financial Market Stress Falls for Fourth Consecutive Week - Financial market stress has fallen to its lowest level since the week ending Nov. 28, 2014, according to the St. Louis Fed Financial Stress Index.  www.stlouisfed.org/news-releases/2015/04/16/financial-market-stress-falls-for-fourth-consecutive-week

April 16, 2015 - Industry Call Regarding Guidance on Identifying, Accepting, and Reporting Brokered Deposits - The FDIC is hosting an informational call for FDIC-insured institutions on April 22, 2015, at 1:00 p.m. EDT to discuss the Brokered Deposit Frequently Asked Questions issued in FIL-2-2015. www.fdic.gov/news/news/financial/2015/fil15017.pdf

April 15, 2015 - NCUA - Matz: Dakota Credit Unions Preparing for Challenges as Oil, Farm Prices Fall - NCUA Chairman Also Discusses Regulatory Relief, Urges Cooperative Efforts - Falling prices for oil and farm products mean Dakota credit unions need to be ready to serve members in tough times, National Credit Union Administration Chairman Debbie Matz said today. www.ncua.gov/News/Pages/NW20150415MatzSpeech.aspx

April 15, 2015 - St. Louis Fed's Bullard Discusses Considerations for U.S. Monetary Policy Normalization - Federal Reserve Bank of St. Louis President James Bullard discussed “Some Considerations for U.S. Monetary Policy Normalization” at the 24th Annual Hyman P. Minsky Conference on Wednesday. www.stlouisfed.org/news-releases/2015/04/15/st-louis-feds-bullard-discusses-considerations-for-us-monetary-policy-normalization

April 15, 2015 - Listen to St. Louis Fed Economist Discuss the April Beige Book - The St. Louis Fed has released audio highlights of the Federal Reserve's latest Beige Book, released on April 15, 2015. The sound clips summarize economic conditions for the United States as a whole, as well as for the Fed's Eighth District, based in St. Louis. www.stlouisfed.org/news-releases/2015/04/15/april-2015-beige-book

April 15, 2015 - Beige Book - Informal review by the Federal Reserve Banks of current economic conditions in their Districts.   www.federalreserve.gov/monetarypolicy/beigebook/default.htm

April 15, 2015 - Legal Developments - Section 19 Letters, January 26 - February 18, 2015 Orders Issued under the Bank Merger Act, Federal Deposit Insurance Act, Federal Reserve Act, and International Banking Act, 2015.  www.federalreserve.gov/bankinforeg/legaldevelopments/ordersother2015.htm

April 15, 2015 - Statistical Release - Industrial Production and Capacity Utilization - G.17.  www.federalreserve.gov/releases/g17/default.htm

April 14, 2015 - NCUA Rescheduling Grant Initiatives Webinar to April 28 - Learn about the Grant Process and How Credit Unions Use Grants to Assist Members - The National Credit Union Administration webinar, “NCUA 2015 Grant and Loan Opportunities,” scheduled for Wednesday, April 15, has been rescheduled to Tuesday, April 28, beginning at 2 p.m. Eastern. www.ncua.gov/News/Pages/NW20150414GrantWebinar.aspx

April 14, 2015 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at 3:00 PM on April 14, 2015, under expedited procedures. Matter considered: Periodic Supervisory Update. www.federalreserve.gov/aboutthefed/boardmeetings/20150414exp.htm

April 14, 2015 - Community Depository Institutions Advisory Council - Record of Meeting, April 10, 2015 - The Community Depository Institutions Advisory Council was established in 2010 by the Board of Governors to provide input to the Board on the economy, lending conditions, and other issues of interest to community depository institutions.  www.federalreserve.gov/aboutthefed/cdiac.htm

April 14, 2015 - Proposal to approve under OMB delegated authority the extension for three years, without revision, of the following reports: FR 2064, FR 3051, and FR 4202.  www.federalreserve.gov/apps/foia/proposedregs.aspx#icp

April 14, 2015 - Are the Borrowing Costs of Large Financial Firms Unusual? - Javed I. Ahmed, Christopher Anderson, and Rebecca E. Zarutskie - Estimates of investor expectations of government support of large financial firms are often based on large financial firms' lower borrowing costs relative to smaller financial firms.  www.federalreserve.gov/econresdata/feds/2015/files/2015024pap.pdf

April 14, 2015 - Minutes of the Board's discount rate meetings for February 9 through March 16, 2015.   www.federalreserve.gov/newsevents/press/monetary/20150414a.htm

April 13, 2015 - Jim Powers Joins St. Louis Fed’s Transportation Industry Council - James G. Powers, president of UniGroup, Inc. in Fenton, Mo., has been named to the Transportation Industry Council of the Federal Reserve Bank of St. Louis. www.stlouisfed.org/news-releases/2015/04/13/new-transportation-industry-council-member-jim-powers

April 13, 2015 - David Keach Joins St. Louis Fed’s Transportation Industry Council - David Keach, president of Gateway Industrial Power in Collinsville, Ill., has been named to the Transportation Industry Council of the Federal Reserve Bank of St. Louis. www.stlouisfed.org/news-releases/2015/04/13/new-transportation-councilmember-david-keach

April 13, 2015 - Federal Reserve Board requests public comment on proposed technical changes to Regulation D - The Federal Reserve Board on Monday requested public comment on proposed amendments to Regulation D making technical changes to the calculation of interest payments on certain balances maintained by depository institutions at Federal Reserve Banks. www.federalreserve.gov/newsevents/press/bcreg/20150413a.htm

April 13, 2015 - Federal Reserve Board is accepting Statements of Interest for its Community Advisory Council - The Federal Reserve Board on Monday announced that it is accepting Statements of Interest from individuals who wish to be considered for membership on the Community Advisory Council.   www.federalreserve.gov/newsevents/press/other/20150413a.htm

April 10, 2015 - NCUA - McWatters: Listening Essential to Being an Effective Regulator - Understanding the daily experiences of running a credit union is essential to being an effective regulator, National Credit Union Administration Board Member J. Mark McWatters said, and that understanding comes from listening. www.ncua.gov/News/Pages/NW20150410McWatters.aspx

April 10, 2015 - St. Louis Fed Receives 2015 Excellence in Financial Literacy Education Award - The Institute for Financial Literacy recently honored the Federal Reserve Bank of St. Louis as its nonprofit organization of the year. The Excellence in Financial Literacy Education Awards are given annually to recognize leaders in the field of financial literacy education. www.occ.gov/news-issuances/news-releases/2015/nr-occ-2015-56.html

April 10, 2015 - Advanced Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System at 3:00 PM on April 14, 2015, will be held under expedited procedures.  www.federalreserve.gov/aboutthefed/boardmeetings/20150414advexp.htm

April 10, 2015 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update - Since the beginning of the financial market turmoil in August 2007, the Federal Reserve's balance sheet has grown in size and has changed in composition.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm
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April 9, 2015 - OCC Hosts Mutual Savings Association Advisory Committee Meeting - The Office of the Comptroller of the Currency today announced it will host a public meeting of the Mutual Savings Association Advisory Committee on Tuesday, April 28, 2015, beginning at 8:00 a.m. Eastern Daylight Time www.occ.gov/news-issuances/news-releases/2015/nr-occ-2015-55.html

April 9, 2015 - Financial Market Stress Falls for Third Consecutive Week - Financial market stress fell slightly over the previous week, according to the St. Louis Fed Financial Stress Index. For the week ending April 3, 2015, the STLFSI measured -1.072, down from the previous week’s revised value of -1.068.   www.stlouisfed.org/news-releases/2015/04/09/financial-market-stress-falls-for-third-consecutive-week

April 9, 2015 - Mike McCarthy Joins St. Louis Fed’s Transportation Industry - Mike McCarthy, president for Terminal Railroad Association of St. Louis, has been named to the Transportation Industry Council of the Federal Reserve Bank of St. Louis. www.stlouisfed.org/news-releases/2015/04/09/new-transportation-council-member-mike-mccrathy

April 9, 2015 - Legal Interpretations - Bank Holding Company Act, April 1, 2015 - Letter to Scott Akins, Esq., granting a request by Freestone Capital Management, LLC, Seattle, Washington, and certain related entities for relief from commitments made to the Board in connection with the acquisition of voting shares in Cordia Bancorp, Inc., the parent of Bank of Virginia, both of Midlothian, Virginia. www.federalreserve.gov/bankinforeg/LegalInterpretations/bhc_changeincontrol20150401a1.pdf

April 9, 2015 - Advanced Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System at 11:30 AM on April 13, 2015, will be held under expedited procedures. Matter(s) considered: Review and determination by the Board of Governors of the advance and discount rates to be charged by the Federal Reserve Banks. www.federalreserve.gov/aboutthefed/boardmeetings/201504.htm

April 9, 2015 - Federal Reserve Board issues final rule to expand applicability of Small Bank Holding Company Policy Statement and apply it to certain savings and loan holding companies.  www.federalreserve.gov/newsevents/press/bcreg/20150409a.htm
 
April 8, 2015 - Wage Dispersion with Heterogeneous Wage Contracts - Cynthia L. Doniger - I study a labor market in which identical workers search on- and off-the-job and heterogeneous firms employ using either posted wages or wage contracts contingent on outside options. http://www.federalreserve.gov/econresdata/feds/2015/files/2015023pap.pdf

April 8, 2015 - NCUA Hosting Financial Literacy Webinar and Twitter Chat April 22 - Credit unions interested in promoting greater financial literacy among their members, particularly young members, can get valuable information and discuss their ideas and activities on a webinar and a Twitter chat hosted by the National Credit Union Administration on Wednesday, April 22. www.ncua.gov/News/Pages/NW20150408Webinar.aspx

April 8, 2015 - Liquidity Windfalls: The Consequences of Repo Rehypothecation - Sebastian Infante - This paper presents a model of repo rehypothecation in which dealers intermediate funds and collateral between cash lenders (e.g., money market funds) and prime brokerage clients (e.g., hedge funds).  http://www.federalreserve.gov/econresdata/feds/2015/files/2015022pap.pdf

April 8, 2015 - Governor Jerome H. Powell - Remarks on Monetary Policy - At the C. Peter McColough Series on International Economics Council on Foreign Relations, New York, New York.  www.federalreserve.gov/newsevents/speech/powell20150408a.htm

April 8, 2015 - Minutes of the Federal Open Market Committee, March 17-18, 2015 - The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on March 17-18, 2015.   www.federalreserve.gov/newsevents/press/monetary/20150408a.htm

April 7, 2015 - Middle Class May Be Experiencing Greater Income and Wealth Erosion than Many People Think - The country’s middle class may be under greater financial pressure than many people think, according to the latest edition of In the Balance, a periodic publication from the Federal Reserve Bank of St. Louis’ Center for Household Financial Stability. www.stlouisfed.org/news-releases/2015/04/07/itb-april-2015-edition

April 7, 2015 - Statistical Release - Consumer Credit - G.19 - In February, consumer credit increased at a seasonally adjusted annual rate of 5-1/2 percent. Revolving credit decreased at an annual rate of 5 percent, while nonrevolving credit increased at an annual rate of 9-1/2 percent.   www.federalreserve.gov/releases/g19/current/default.htm

April 6, 2015 - NCUA - Streamlined Secondary Capital Approval Offers Benefits to Credit Unions, Investors - NCUA Adds Flexibility, Transparency through Supervision Process - Low-income credit unions and investors will find secondary capital processes easier under revisions to the National Credit Union Administration’s supervisory policies. www.ncua.gov/News/Pages/NW20150406NSPMSecondaryCapital.aspx

April 6, 2015 - OCC Releases CRA Evaluations for 26 National Banks and Federal Savings Associations - The Office of the Comptroller of the Currency today released a list of Community Reinvestment Act performance evaluations that became public during the period of March 1, 2015 through March 31, 2015. www.occ.gov/news-issuances/news-releases/2015/nr-occ-2015-54.html

April 6, 2015 - Roy Madsen Named Deputy Comptroller for Strategic Management - Roy Madsen today was named Deputy Comptroller for Strategic Management at the Office of the Comptroller of the Currency.  www.occ.gov/news-issuances/news-releases/2015/nr-occ-2015-53.html

April 6, 2015 - Consolidated Reports of Condition and Income - The Consolidated Reports of Condition and Income for the March 31, 2015, report date must be received by Thursday, April 30, 2015. www.fdic.gov/news/news/financial/2015/fil15015.html

April 6, 2015 - Interagency Frequently Asked Questions on the Regulatory Capital Rule1 - The Federal Reserve, together with the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation (the agencies), is issuing the attached FAQs in response to questions from regulated institutions about the agencies’ regulatory capital rule.
Press Release: www.federalreserve.gov/bankinforeg/srletters/sr1506.pdf
Press Release: www.fdic.gov/news/news/financial/2015/fil15016.html

April 6, 2015 - A Model of Endogenous Loan Quality and the Collapse of the Shadow Banking System - Francesco Ferrante - I develop a macroeconomic model with a financial sector, in which banks can finance risky projects (loans) and can affect their quality by exerting a costly screening effort.  http://www.federalreserve.gov/econresdata/feds/2015/files/2015021pap.pdf

April 6, 2015 - Agencies Announce Additional EGRPRA Outreach Meetings - The federal banking agencies will hold an outreach meeting on Monday, May 4, 2015, at the Federal Reserve Bank of Boston as part of their regulatory review under the Economic Growth and Regulatory Paperwork Reduction Act of 1996.
Press Release: www.federalreserve.gov/newsevents/press/bcreg/20150406a.htm
Press Release: www.fdic.gov/news/news/press/2015/pr15032.html
Press Release: www.occ.gov/news-issuances/news-releases/2015/nr-ia-2015-52.html

April 3, 2015 - Maryann Kennedy and Kris McIntire Named Deputy Comptrollers for Large Bank Supervision - Maryann H. Kennedy and Kris A. McIntire today were named Deputy Comptrollers for Large Bank Supervision at the Office of the Comptroller of the Currency. www.occ.gov/news-issuances/news-releases/2015/nr-occ-2015-51.html

April 3, 2015 - 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/2015/pr15031.html

April 3, 2015 - Deleveraging and Recent Trends in Household Debt - Ivan Vidangos1 - After falling for almost five years, household debt (measured in dollars) has risen in each of the last seven quarters, as the primary forces exerting downward pressure on household debt in previous years (mortgage charge-offs and negative net mortgage originations) have waned, while consumer credit has been expanding at a robust pace.  www.federalreserve.gov/econresdata/notes/feds-notes/2015/deleveraging-and-recent-trends-in-household-debt-20150406.html

April 3, 2015 - Downside Variance Risk Premium - Bruno Feunou, Mohammad R. Jahan-Parvar, and Cedric Okou - We propose a new decomposition of the variance risk premium in terms of upside and downside variance risk premia. The difference between upside and downside variance risk premia is a measure of skewness risk premium.  http://www.federalreserve.gov/econresdata/feds/2015/files/2015020pap.pdf
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April 2, 2015 - NCUA - Registration Open for April Open Board Meeting Online Livestream - Registration is now open for the online livestreaming of the National Credit Union Administration’s April 30 open Board meeting. People interested in watching the April open Board meeting live will need to register online here, and participants will use this same link to log into the livestream. www.ncua.gov/News/Pages/NW20150402Livestream.aspx

April 2, 2015 - Comptroller Discusses Efforts to Strengthen Community Banking - Comptroller of the Currency Thomas J. Curry today discussed efforts to strengthen community banking through expanding flexibility of the federal thrift charter, reducing unnecessary burden in the regulatory process for community banks, encouraging collaboration, and enhancing institutions’ readiness to withstand cyber threats.  www.occ.gov/news-issuances/speeches/2015/pub-speech-2015-50.pdf

April 2, 2015 - Financial Market Stress Declines Modestly - Financial market stress declined for the second consecutive week, according to the St. Louis Fed Financial Stress Index (STLFSI). For the week ending March 27, 2015, the STLFSI measured -1.063, down modestly from the previous week’s revised value of -1.032. In the first quarter of 2015, the weekly STLFSI averaged -0.979, up significantly from its average over the first quarter of 2014 (-1.292). www.stlouisfed.org/news-releases/2015/04/02/financial-market-stress-declines-modestly

April 2, 2015 - Statistical Release - Senior Credit Officer Opinion Survey on Dealer Financing Terms.  www.federalreserve.gov/econresdata/releases/scoos.htm

April 2, 2015 - Governor Lael Brainard - Coming of Age in the Great Recession - At the "Economic Mobility: Research and Ideas on Strengthening Families, Communities, and the Economy" Ninth Biennial Federal Reserve System Community Development Research Conference, Washington, D.C. www.federalreserve.gov/newsevents/speech/brainard20150402a.htm

April 2, 2015 - Chair Janet L. Yellen - Opening Remarks - At the "Economic Mobility: Research and Ideas on Strengthening Families, Communities, and the Economy," a community development research conference sponsored by the Federal Reserve System, Washington, D.C. http://www.federalreserve.gov/newsevents/speech/yellen20150402a.htm

April 2, 2015 - Federal Reserve announces termination of enforcement action with Orrstown Financial Services, Inc. and Orrstown Bank.   www.federalreserve.gov/newsevents/press/enforcement/20150402a.htm

April 1, 2015 - NCUA Awards $520,440 in Grants to 153 Low-Income Credit Unions - ?Funds to Support Student Internships and Staff, Volunteer Training - Credit unions providing affordable financial services to underserved communities will be able to offer staff training and student internships with grants awarded today by the National Credit Union Administration. www.ncua.gov/News/Pages/NW20150401Grants.aspx

April 1, 2015 - NCUA Advances Supplier Diversity in 2014 - The National Credit Union Administration continues its drive towards excellence in supplier diversity, increasing the total dollars awarded to minority- and women-owned businesses by 49 percent in 2014, according to a report released today. www.ncua.gov/News/Pages/NW20150401OMWI.aspx

April 1, 2015 - Daniel K. Tarullo Named FFIEC Chairman - Federal Reserve Board Governor Daniel K. Tarullo on Wednesday became the 22nd chairman of the Federal Financial Institutions Examination Council. His two-year term runs from April 1, 2015 through March 31, 2017.  www.ncua.gov/News/Pages/NW20150401FFIECTarullo.aspx

April 1, 2015 - Caroline Jones Appointed to FFIEC State Liaison Committee - The Federal Financial Institutions Examination Council announced today the appointment of a new member of the Council’s State Liaison Committee. Caroline Jones serves as the Commissioner of the Texas Department of Savings and Mortgage Lending.  www.ncua.gov/News/Pages/NW20150401FFIECJones.aspx

April 1, 2015 - Hughes and Kingry Re-Appointed to FFIEC State Liaison Committee - The Federal Financial Institutions Examination Council announced today the reappointments of both Mary Hughes and Lauren Kingry to the Council's State Liaison Committee.   www.ncua.gov/News/Pages/NW20150401FFIECReappointments.aspx

April 1, 2015 - OCC Reports Fourth Quarter Trading Revenue of $4.4 Billion - Insured U.S. commercial banks and savings institutions reported trading revenue of $4.4 billion in the fourth quarter of 2014, down $1.3 billion, or 22 percent, from $5.7 billion in the third quarter, the Office of the Comptroller of the Currency reported today in the OCC's Quarterly Report on Bank Trading and Derivatives Activities. www.occ.gov/news-issuances/news-releases/2015/nr-occ-2015-49.html

April 1, 2015 - Richard Taft Named Deputy Comptroller for Credit Risk - Richard Taft today was named to be Deputy Comptroller for Credit Risk at the Office of the Comptroller of the Currency.  www.occ.gov/news-issuances/news-releases/2015/nr-occ-2015-48.html

April 1, 2015 - Daniel K. Tarullo Named FFIEC Chairman - Federal Reserve Board Governor Daniel K. Tarullo on Wednesday became the 22nd chairman of the Federal Financial Institutions Examination Council. His two-year term runs from April 1, 2015 through March 31, 2017.   www.ffiec.gov/press/pr040115_3.htm

April 1, 2015 - Caroline Jones Appointed to FFIEC State Liaison Committee - The Federal Financial Institutions Examination Council announced today the appointment of a new member of the Council’s State Liaison Committee. www.ffiec.gov/press/pr040115_2.htm

April 1, 2015 - Hughes and Kingry Re-Appointed to FFIEC State Liaison Committee - The Federal Financial Institutions Examination Council announced today the reappointments of both Mary Hughes and Lauren Kingry to the Council's State Liaison Committee. www.ffiec.gov/press/pr040115_1.htm

April 1, 2015 - FDIC Announces Advisory Committee on Community Banking Meeting - The Federal Deposit Insurance Corporation today announced that it will hold a meeting of the Advisory Committee on Community Banking on Thursday, April 2.  www.fdic.gov/news/news/press/2015/pr15030.html

April 1, 2015 - Consolidated Reports of Condition and Income for First Quarter 2015 - The attached materials pertain to the Consolidated Reports of Condition and Income for the March 31, 2015, report date. Please plan to complete the preparation, editing, and review of your institution's Call Report data and the submission of these data to the agencies' Central Data Repository as early as possible.  Press Release: www.fdic.gov/news/news/financial/2015/fil15014.html 

April 1, 2015 - Statistical Release - Foreign Exchange Rates - G.5 - The table below shows the average rates of exchange in MARCH 2015 together with comparable figures for other months. Averages are based on daily noon buying rates for cable transfers in New York City certified for customs purposes by the Federal Reserve Bank of New York. www.federalreserve.gov/releases/g5/current/

April 1, 2015 - Federal Open Market Committee - 2009 FOMC Greenbooks and Bluebooks. www.federalreserve.gov/monetarypolicy/fomchistorical2009.htm