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April 30, 2020 - FFIEC Joint Statement on Risk Management for Cloud Computing Services - The FDIC, as a member of the Federal Financial Institutions Examination Council, is issuing the attached statement addressing the use of cloud computing services and security risk management principles in the financial services sector. Press Release: www.fdic.gov/news/news/financial/2020/fil20052.html Press Release: www.ffiec.gov/press/pr043020.htm Press Release: www.occ.gov/news-issuances/bulletins/2020/bulletin-2020-46.html April 30, 2020 - Federal Reserve Board announces the public comment period has been extended through June 4, 2020, for the notice by Morgan Stanley of New York, New York, to acquire E*TRADE Financial Corporation of Arlington, Virginia. www.federalreserve.gov/newsevents/pressreleases/orders20200430a.htm April 30, 2020 - Federal Reserve Board announces it has fined Bank Hapoalim B.M. $37.35 million for the firm’s unsafe and unsound practices resulting in violations of U.S. tax laws. www.federalreserve.gov/newsevents/pressreleases/enforcement20200430a.htm April 30, 2020 - Federal Reserve expands access to its Paycheck Protection Program Liquidity Facility to additional lenders, and expands the collateral that can be pledged. www.federalreserve.gov/newsevents/pressreleases/monetary20200430b.htm _______________________________ April 30, 2020 - Midwest Economy Index - Index suggests Midwest growth decreased substantially in March - The Midwest Economy Index fell to �1.02 in March from �0.16 in February. Contributions to the March MEI from three of the four broad sectors of nonfarm business activity and all five Seventh Federal Reserve District states decreased from February. www.chicagofed.org/~/media/publications/mei/2020/mei-march2020-pdf.pdf April 30, 2020 - Federal Reserve Board announces it is expanding the scope and eligibility for the Main Street Lending Program - As part of its broad effort to support the economy, the Federal Reserve developed the Main Street Lending Program to help credit flow to small and medium-sized businesses that were in sound financial condition before the pandemic. www.federalreserve.gov/newsevents/pressreleases/monetary20200430a.htm April 30, 2020 - Advanced Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System will be held under expedited procedures at 11:30 a.m. on May 4, 2020. Matter(s) considered: Federal Reserve Supervision and Regulation Report. www.federalreserve.gov/aboutthefed/boardmeetings/20200504closed.htm April 30, 2020 - NCUA Issues Prohibition Notice - The National Credit Union Administration issued one prohibition notice in April. This individual is prohibited from participating in the affairs of any federally insured financial institution. www.ncua.gov/newsroom/press-release/2020/ncua-issues-prohibition-notice April 30, 2020 - NCUA�s Hood Calls for CECL Exemption - In a letter, National Credit Union Administration Chairman Rodney E. Hood today urged the Financial Accounting Standards Board to exempt credit unions from complying with the current expected credit losses methodology, or CECL. www.ncua.gov/newsroom/press-release/2020/ncuas-hood-calls-cecl-exemption April 29, 2020 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at on April 28, 2020 and continued at 9:00 a.m. on April 29, 2020. Matter(s) considered: Discussion of Monetary Policy Issues. www.federalreserve.gov/aboutthefed/boardmeetings/20200428closed.htm April 29, 2020 - Reports to Congress Pursuant to Section 13(3) of the Federal Reserve Act in response to COVID-19. www.federalreserve.gov/publications/reports-to-congress-in-response-to-covid-19.htm April 29, 2020 - Federal Reserve issues FOMC statement - The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals. www.federalreserve.gov/newsevents/pressreleases/monetary20200429a.htm April 28, 2020 - Regulatory Relief: Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Tennessee Affected by Severe Storms, Tornadoes, Straight-Line Winds and Flooding - The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Tennessee affected by severe storms, tornadoes, straight-line winds and flooding. www.fdic.gov/news/news/financial/2020/fil20051.html April 27, 2020 - Credit Administration : Documentation of SBA Paycheck Protection Program Loans - Loans made by banks1 under the Small Business Administration�s Paycheck Protection Program are an important part of the federal COVID-19 response program for small business and may qualify for credit under the Community Reinvestment Act. www.occ.gov/news-issuances/bulletins/2020/bulletin-2020-45.html April 27, 2020 - NCUA: Mentoring Grants Available to Help MDIs - Small, low-income credit unions designated as minority depository institutions may apply for mentoring grants from May 1 through June 30, the National Credit Union Administration announced today. www.ncua.gov/newsroom/press-release/2020/ncua-mentoring-grants-available-help-mdis April 27, 2020 - NCUA�s Harper: Credit Unions Are Strong, but COVID-19 Presents Challenges - Federally insured credit unions at the start of the COVID-19 pandemic are strong, but they may face a more difficult environment than they ever have, NCUA Board Member Todd M. Harper said. www.ncua.gov/newsroom/press-release/2020/ncuas-harper-credit-unions-are-strong-covid-19-presents-challenges April 27, 2020 - Federal Reserve Board announces an expansion of the scope and duration of the Municipal Liquidity Facility - The facility, which was announced on April 9 as part of an initiative to provide up to $2.3 trillion in loans to support U.S. households, businesses, and communities, will offer up to $500 billion in lending to states and municipalities to help manage cash flow stresses caused by the coronavirus pandemic. www.federalreserve.gov/newsevents/pressreleases/monetary20200427a.htm April 27, 2020 - Agencies extend comment period on updates to resolution plan guidance for large foreign banks - The Federal Deposit Insurance Corporation and the Federal Reserve Board today announced that they will extend, by 30 days, the comment period for the agencies' proposed guidance for resolution plans submitted by certain large foreign banks. Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20200427a.htm Press Release: www.fdic.gov/news/news/press/2020/pr20054.html April 24, 2020 - NCUA Chairman Hood: Paycheck Protection Program and Health Care Enhancement Act Will Support Local Communities. www.ncua.gov/newsroom/press-release/2020/ncua-chairman-hood-paycheck-protection-program-and-health-care-enhancement-act-will-support-local April 24, 2020 - COVID-19 Financial Support Programs : Visitorial Authority - The federal government has taken many actions in response to the economic disruption caused by the spread of COVID-19, including establishing and implementing financial support programs. www.occ.gov/news-issuances/bulletins/2020/bulletin-2020-43.html April 24, 2020 - FDIC Makes Public March Enforcement Actions - The FDIC issued 13 orders in March 2020. The administrative enforcement actions in those orders consisted of 5 Section 19 orders, 2 orders to pay civil money penalties, orders of prohibition, orders terminating consent orders, order voluntarily terminating deposit insurance, and modification of an order of prohibition. www.fdic.gov/news/news/press/2020/pr20053.html April 24, 2020 - Advanced Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System will be held under expedited procedures at 1:00 p.m. on April 28, 2020. Matter(s) considered: Discussion of Monetary Policy Issues. www.federalreserve.gov/aboutthefed/boardmeetings/20200428closed.htm April 24, 2020 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm April 24, 2020 - Reports to Congress Pursuant to Section 13(3) of the Federal Reserve Act in response to COVID-19. www.federalreserve.gov/publications/reports-to-congress-in-response-to-covid-19.htm April 24, 2020 - Federal Reserve Board announces interim final rule to delete the six-per-month limit on convenient transfers from the "savings deposit" definition in Regulation D. www.federalreserve.gov/newsevents/pressreleases/bcreg20200424a.htm April 23, 2020 - GAO - In April 2019, GAO identified 25 priority recommendations for the Department of the Treasury (Treasury). Since then, Treasury has implemented 4 of those recommendations by, among other things, reducing the need for significant adjustments to federal entity data for preparing U.S. Consolidated Financial Statements. https://www.gao.gov/products/GAO-20-549PR April 23, 2020 - Membership Announcement for the Federal Reserve Bank of San Francisco�s Los Angeles Branch Board of Directors - The Federal Reserve Bank of San Francisco has appointed Maritza Diaz, chief executive officer of iTjuana, a technology services company based in the San Diego area that enables customers to create technology centers of excellence in Tijuana, to its Los Angeles branch board of directors. www.frbsf.org/our-district/press/news-releases/2020/membership-announcement-for-the-federal-reserve-bank-of-san-franciscos-los-angeles-branch-board-of-directors/ April 23, 2020 - Federal Reserve announces it is working to expand access to its Paycheck Protection Program Liquidity Facility for additional SBA-qualified lenders as soon as possible. www.federalreserve.gov/newsevents/pressreleases/monetary20200423b.htm April 23, 2020 - Federal Reserve Board announces temporary actions aimed at increasing the availability of intraday credit extended by Federal Reserve Banks. www.federalreserve.gov/newsevents/pressreleases/other20200423a.htm April 23, 2020 - Federal Reserve Board outlines the extensive and timely public information it will make available regarding its programs to support the flow of credit to households and businesses and thereby foster economic recovery. www.federalreserve.gov/newsevents/pressreleases/monetary20200423a.htm ________________________ April 22, 2020 - NCUA Board Approves Changes to Capital; Business Lending Regulations - The National Credit Union Administration Board unanimously approved today, by notation vote, an interim final rule that amends the agency�s capital adequacy and member business loans and commercial lending regulations following the creation of the Small Business Administration�s Paycheck Protection Program. www.ncua.gov/newsroom/press-release/2020/ncua-board-approves-changes-capital-business-lending-regulations April 22, 2020 - NCUA Establishes New Office of Ethics Counsel - The Office of Ethics Counsel will certify the agency�s compliance with relevant federal ethics laws and regulations, promote accountability and ethical conduct, and help ensure the success of the NCUA�s ethics programs. www.ncua.gov/newsroom/press-release/2020/ncua-establishes-new-office-ethics-counsel April 22, 2020 - Current Expected Credit Losses : Final Rule With Technical Changes to Interim Final Rule - The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation today announced a final rule that makes technical changes in the interim final rule that the agencies announced on March 27, 2020. www.occ.gov/news-issuances/bulletins/2020/bulletin-2020-42.html April 22, 2020 - Banker Webinar: How to Become a Paycheck Protection Program Lender -The FDIC, the Board of Governors of the Federal Reserve, the Office of the Comptroller of the Currency, and the National Credit Union Administration will host a webinar for bankers on Thursday, April 23, 2020, from 11:00 a.m.to 12:00 p.m., Eastern Daylight Time. www.fdic.gov/news/news/financial/2020/fil20049.html April 22, 2020 - Technical Corrections to the Revised Transition of the Current Expected Credit Losses Methodology for Allowances - The Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, and Board of Governors of the Federal Reserve System published a technical correction, final rule in the Federal Register that corrects errors in and clarifies the March 31, 2020 interim final rule that provides a five-year transition period for the impact of the current expected credit loss methodology on regulatory capital. www.fdic.gov/news/news/financial/2020/fil20048.html April 21, 2020 - Regulatory Relief: Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Mississippi Affected by Severe Storms, Tornadoes, Straight-Line Winds and Flooding. www.fdic.gov/news/news/financial/2020/fil20047.html April 20, 2020 - Chicago Fed National Activity Index - Index suggests economic growth decreased substantially in March - Led by declines in production- and employment-related indicators, the Chicago Fed National Activity Index fell to �4.19 in March from +0.06 in February. www.chicagofed.org/~/media/publications/cfnai/2020/cfnai-april2020-pdf.pdf April 20, 2020 - Federal Reserve Lending Programs : COVID-19-Related Programs to Support Households, Employers, and Communities - The Office of the Comptroller of the Currency is providing awareness to banks about facilities and programs established or expanded by the Board of Governors of the Federal Reserve System to assist households and employers of all sizes and bolster the ability of state and local governments to deliver critical services during the coronavirus emergency. www.occ.gov/news-issuances/bulletins/2020/bulletin-2020-41.html April 20, 2020 - Statistical Release - Finance Companies - G.20 - Owned and Managed Receivables Outstanding. www.federalreserve.gov/releases/g20/current/default.htm April 17, 2020 - Federal Reserve Board announces rule change to bolster the effectiveness of the Small Business Administration's Paycheck Protection Program - The Federal Reserve Board on Friday announced a rule change to bolster the effectiveness of the Small Business Administration's Paycheck Protection Program. www.federalreserve.gov/newsevents/pressreleases/bcreg20200417a.htm April 17, 2020 - Patent-Based News Shocks - Danilo Cascaldi-Garcia and Marija Vukotić - We exploit firm-level data on patent grants and subsequent reactions of stocks to identify technological news shocks. www.federalreserve.gov/econres/ifdp/patent-based-news-shocks.htm April 17, 2020 - Health Insurance and Hospital Supply: Evidence from 1950s Coal Country - Theodore F. Figinski and Erin Troland - The United States government spends billions on public health insurance and has funded a number of programs to build health care facilities. www.federalreserve.gov/econres/feds/health-insurance-and-hospital-supply-evidence-from-1950s-coal-country.htm April 17, 2020 - Monetary Policy Uncertainty and Monetary Policy Surprises - Michiel De Pooter, Giovanni Favara, Michele Modugno, and Jason Wu - Monetary policy uncertainty affects the transmission of monetary policy shocks to longer-term nominal and real yields. www.federalreserve.gov/econres/feds/monetary-policy-uncertainty-and-monetary-policy-surprises.htm April 17, 2020 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm April 17, 2020 - Social Distancing and Supply Disruptions in a Pandemic - Martin Bodenstein, Giancarlo Corsetti, and Luca Guerrieri - Drastic public health measures such as social distancing or lockdowns can reduce the loss of human life by keeping the number of infected individuals from exceeding the capacity of the health care system but are often criticized because of the social and the economic cost they entail. www.federalreserve.gov/econres/feds/social-distancing-and-supply-disruptions-in-a-pandemic.htm April 17, 2020 - Federal Reserve Board announces rule change to bolster the effectiveness of the Small Business Administration's Paycheck Protection Program - The change will temporarily modify the Board's rules so that certain bank directors and shareholders can apply for PPP loans for their small businesses. www.federalreserve.gov/newsevents/pressreleases/bcreg20200417a.htm April 17, 2020 - Minutes of the Board's discount rate meetings from February 10 through March 15, 2020. www.federalreserve.gov/newsevents/pressreleases/monetary20200417a.htm April 16, 2020 - FFIEC Announces Federal Disclosure Computational Tools - The Federal Financial Institutions Examination Council, on behalf of its member agencies, today announced the availability of FFIEC Federal Disclosure Computational Tools, including the Annual Percentage Rate Computational Tool and the Annual Percentage Yield Computational Tool. www.ncua.gov/newsroom/press-release/2020/ffiec-announces-federal-disclosure-computational-tools April 16, 2020 - NCUA Board Member J. Mark McWatters Statement on COVID-19 Pandemic Response. www.ncua.gov/newsroom/speech/2020/ncua-board-member-j-mark-mcwatters-statement-covid-19-pandemic-response April 16, 2020 - Blake Paulson Named OCC's Next Chief National Bank Examiner - Mr. Paulson will add the title to his current role as Senior Deputy Comptroller for Midsize and Community Bank Supervision. In this role, Mr. Paulson oversees the supervision of more than 1,000 banks and savings associations that support consumers, communities, and businesses across the country. www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-57.html April 16, 2020 - The Federal Financial Institutions Examination Council, on behalf of its member agencies, today announced the availability of FFIEC Federal Disclosure Computational Tools, including the Annual Percentage Rate Computational Tool and the Annual Percentage Yield Computational Tool. Press Release: www.ffiec.gov/press/pr041620.htm Press Release: www.occ.gov/news-issuances/bulletins/2020/bulletin-2020-40.html April 16, 2020 - Banker Webinar: Revised Statement on Loan Modifications and Reporting for Institutions Working with Customers Affected by the Coronavirus - The FDIC, Board of Governors of the Federal Reserve, Office of the Comptroller of the Currency, and National Credit Union Administration will host a webinar for bankers on Friday, April 24, 2020, from 3:00 to 4:00 p.m. Eastern Daylight Time to discuss the revised Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus. www.fdic.gov/news/news/financial/2020/fil20046.html April 16, 2020 - Release of FFIEC Federal Disclosure Computational Tools - The Federal Financial Institutions Examination Council, on behalf of its member agencies, announced the availability of FFIEC Federal Disclosure Computational Tools, including the Annual Percentage Rate Computational Tool and the Annual Percentage Yield Computational Tool. www.fdic.gov/news/news/financial/2020/fil20045.html _______________________________ April 16, 2020 - NCUA Board Approves Regulatory Relief Measures in Response to COVID-19 - The National Credit Union Administration Board held its third open meeting of 2020 today using a live audio webcast and approved three items: www.ncua.gov/newsroom/press-release/2020/ncua-board-approves-regulatory-relief-measures-response-covid-19 April 16, 2020 - NCUA Chairman Rodney E. Hood Statement on the Interim Final Rule Enhancing the Central Liquidity Facility. www.ncua.gov/newsroom/speech/2020/ncua-chairman-rodney-e-hood-statement-interim-final-rule-enhancing-central-liquidity-facility April 16, 2020 - NCUA Chairman Rodney E. Hood Statement on the Final Rule on Temporary Regulatory Relief in Response to COVID-19 Pandemic. www.ncua.gov/newsroom/speech/2020/ncua-chairman-rodney-e-hood-statement-final-rule-temporary-regulatory-relief-response-covid-19 April 16, 2020 - OCC Enforcement Actions and Terminations - 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/2020/nr-occ-2020-56.html April 16, 2020 - Tracking Labor Market Developments during the COVID-19 Pandemic: A Preliminary Assessment - Tomaz Cajner, Leland D. Crane, Ryan A. Decker, Adrian Hamins-Puertolas, Christopher Kurz - Many traditional official statistics are not suitable for measuring high-frequency developments that evolve over the course of weeks, not months. www.federalreserve.gov/econres/feds/tracking-labor-market-developments-during-the-covid-19-pandemic.htm April 16, 2020 - Federal Reserve Board issues enforcement actions with Amboy Bank and Bank of Clarke County. www.federalreserve.gov/newsevents/pressreleases/enforcement20200416a.htm April 16, 2020 - Federal Reserve announces its Paycheck Protection Program Liquidity Facility is fully operational and available to provide liquidity to eligible financial institutions. www.federalreserve.gov/newsevents/pressreleases/monetary20200416a.htm April 15, 2020 - Survey shows growth slowed substantially in late February and March - The Chicago Fed Survey of Business Conditions Activity Index fell to −59 from +1, suggesting that economic growth was well below trend in late February and March. The CFSBC Manufacturing Activity Index decreased to �41 from �14, and the CFSBC Nonmanufacturing Activity Index fell to −69 from +9. www.chicagofed.org/~/media/publications/cfsbc/2020/cfsbc-april2020-pdf.pdf April 15, 2020 - St. Louis Fed Annual Report: Connecting Communities - A commitment to public outreach is central to the Federal Reserve Bank of St. Louis� mission, including during unprecedented economic times. In its latest annual report, �Connecting Communities,� the St. Louis Fed highlights ongoing Community Development work across the Eighth Federal Reserve District. www.stlouisfed.org/news-releases/2020/04/15/st-louis-fed-annual-report-connecting-communities April 15, 2020 - Bank Secrecy Act/Anti-Money Laundering : Updated Sections of the FFIEC Bank Secrecy Act/Anti-Money Laundering Examination Manual - The Federal Financial Institutions Examination Council revised the following sections of the FFIEC Bank Secrecy Act/Anti-Money Laundering Examination Manual: �Scoping and Planning�; �BSA/AML Risk Assessment�; �Assessing the BSA/AML Compliance Program�; and �Developing Conclusions and Finalizing the Exam. www.occ.gov/news-issuances/bulletins/2020/bulletin-2020-39.html April 15, 2020 - Comptroller of the Currency Statement on FFIEC BSA/AML Manual - Comptroller of the Currency Joseph M. Otting today issued the following statement regarding the publication of the Federal Financial Institutions Examination Council Bank Secrecy Act/Anti-Money Laundering Examination Manual. www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-55.html April 15, 2020 - The Federal Financial Institutions Examination Council today released several updates to the Bank Secrecy Act/Anti-Money Laundering examination manual. The manual is used to evaluate compliance with the BSA and AML requirements. Press Release: www.ffiec.gov/press/pr041520.htm Press Release: www.ncua.gov/newsroom/press-release/2020/federal-and-state-regulators-release-updates-bsaaml-examination-manual April 15, 2020 - "Revitalize or Stabilize": Does Community Development Financing Work? - Daniel Ringo - Banks in the United States originate $100 billion in community development loans every year and hold a similar amount of community development investments on their balance sheets. www.federalreserve.gov/econres/feds/revitalize-or-stabilize-does-community-development-financing-work.htm April 15, 2020 - Beige Book - Informal review by the Federal Reserve Banks of current economic conditions in their Districts. www.federalreserve.gov/monetarypolicy/beigebook202004.htm April 15, 2020 - Statistical Release - Industrial Production and Capacity Utilization - G.17 - Total industrial production fell 5.4 percent in March, as the COVID-19 pandemic led many factories to suspend operations late in the month. www.federalreserve.gov/releases/g17/current/default.htm April 14, 2020 - Federal Banking Agencies to Defer Appraisals and Evaluations for Real Estate Transactions Affected by COVID-19 The federal banking agencies today issued an interim final rule to temporarily defer real estate-related appraisals and evaluations under the agencies� interagency appraisal regulations. www.ncua.gov/newsroom/press-release/2020/federal-banking-agencies-defer-appraisals-and-evaluations-real-estate-transactions-affected-covid-19 April 14, 2020 - OCC Announces Paycheck Protection Program Listening Sessions - The Office of the Comptroller of the Currency today announced that its Office of Innovation will host three listening sessions on April 16, 20, and 21, to discuss issues and potential solutions relating to the Paycheck Protection Program as established by the Coronavirus Aid, Relief, and Economic Security Act. www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-53.html April 14, 2020 - Federal Reserve Board announces termination of enforcement action with SunSouth Bancshares, Inc. www.federalreserve.gov/newsevents/pressreleases/enforcement20200414a.htm April 13, 2020 - NCUA Increases Funding for COVID-19 Emergency Response Grants - More than $1.3 Million will be Available; Applications Due by May 22 - Recognizing the immediate needs of credit unions and their members in the COVID-19 pandemic, the National Credit Union Administration is committing the majority of the 2020 Community Development Revolving Loan Fund appropriation for COVID-19 assistance. www.ncua.gov/newsroom/press-release/2020/ncua-increases-funding-covid-19-emergency-response-grants April 13, 2020 - NCUA Board Approves Changes to Central Liquidity Facility - The National Credit Union Administration Board unanimously approved today, by notation vote, an interim final rule that enhances the ability of the Central Liquidity Facility to serve as liquidity backstop to the nation�s credit union system. www.ncua.gov/newsroom/press-release/2020/ncua-board-approves-changes-central-liquidity-facility April 13, 2020 - Federal Reserve Bank of Kansas City to announce the Employer Laptop Challenge - The Federal Reserve Bank of Kansas City today launched the Employer Laptop Challenge, a new community development program that encourages companies and other organizations to donate used devices to nonprofits, schools and refurbishers. www.kansascityfed.org/newsroom/newsreleases/2020/employer-laptop-challenge April 10, 2020 - Regulatory Relief: Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Oregon Affected by Severe Storms, Tornadoes, Straight-Line Winds and Flooding. www.fdic.gov/news/news/financial/2020/fil20042.html April 10, 2020 - Banker Webinar: New Transition Provision to Delay the Impact of CECL on Regulatory Capital for Institutions Required to Adopt CECL in 2020 - The FDIC, the Board of Governors of the Federal Reserve, and the Office of the Comptroller of the Currency will jointly host a webinar to discuss a new transition provision in an interagency Interim Final Rule to delay the impact that the current expected credit losses methodology for estimating allowances for credit losses has on regulatory capital. The webinar is scheduled for Tuesday, April 14, 2020, at 3:00 p.m. ET. www.fdic.gov/news/news/financial/2020/fil20041.html April 10, 2020 - Supervisory and Enforcement Practices Regarding the Mortgage Servicing Rules in Response to COVID-19 and the CARES Act - The FDIC, the Consumer Financial Protection Bureau, the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, the National Credit Union Administration, and the Conference of State Bank Supervisors issued a joint statement on April 3, 2020, to announce the agencies' flexible supervisory and enforcement approach during the COVID-19 emergency regarding certain consumer communications required by the mortgage servicing rules. www.fdic.gov/news/news/financial/2020/fil20040.html April 10, 2020 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm April 9, 2020 - Consolidated Reports of Condition and Income for First Quarter 2020 - The attached materials pertain to the Consolidated Reports of Condition and Income for the March 31, 2020, report date. The federal banking agencies understand that institutions may need additional time to submit certain regulatory reports in light of staffing priorities and disruptions caused by the Coronavirus Disease 2019. Press Release: www.fdic.gov/news/news/financial/2020/fil20039.html Press Release: www.occ.gov/news-issuances/bulletins/2020/bulletin-2020-37.html April 9, 2020 - Speech by Chair Jerome H. Powell COVID-19 and the Economy At the Hutchins Center on Fiscal and Monetary Policy, The Brookings Institution, Washington, D.C. www.federalreserve.gov/newsevents/speech/powell20200409a.htm _______________________________ April 9, 2020 - Comptroller of the Currency Thanks Stakeholders for Comments on the Proposal to Modernize Community Reinvestment Act Regulations - Comptroller of the Currency Joseph M. Otting today issued the following statement thanking stakeholders for their comments on the proposal to strengthen and modernize the regulatory framework implementing the Community Reinvestment Act. www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-52.html April 9, 2020 - Richard C. Siemer Joins St. Louis Fed�s Agribusiness Industry Council - Richard C. Siemer has been named to the Agribusiness Industry Council of the Federal Reserve Bank of St. Louis. Siemer is the president of Siemer Milling Company, which is based in Teutopolis, Ill. www.stlouisfed.org/news-releases/2020/04/richard-c-siemer-joins-st-louis-fed-agribusiness-industry-council April 9, 2020 - Speech by Chair Powell on COVID-19 and the Economy Chair Jerome H. Powell At the Hutchins Center on Fiscal and Monetary Policy, The Brookings Institution, Washington, D.C. www.federalreserve.gov/newsevents/speech/powell20200409a.htm April 9, 2020 - Federal bank regulators issue interim final rule for Paycheck Protection Program Facility - The federal bank regulatory agencies today announced an interim final rule to encourage lending to small businesses through the Small Business Administration's Paycheck Protection Program, or PPP. Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20200409a.htm Press Release: www.fdic.gov/news/news/press/2020/pr20050.html Press Release: www.occ.gov/news-issuances/news-releases/2020/nr-ia-2020-51.html Press Release: www.occ.gov/news-issuances/bulletins/2020/bulletin-2020-36.html April 9, 2020 - Federal Reserve takes additional actions to provide up to $2.3 trillion in loans to support the economy - This funding will assist households and employers of all sizes and bolster the ability of state and local governments to deliver critical services during the coronavirus pandemic. www.federalreserve.gov/newsevents/pressreleases/monetary20200409a.htm April 8, 2020 - NCUA Chairman Rodney E. Hood�s Remarks During a Call with the CEO�s of the Nation�s Corporate Credit Unions. www.ncua.gov/newsroom/speech/2020/ncua-chairman-rodney-e-hoods-remarks-during-call-ceos-nations-corporate-credit-unions April 8, 2020 - U.S. and Regional Economic Conditions By Nicholas Sly Assistant Vice President, Economist and Denver Branch Executive. www.kansascityfed.org/~/media/files/publicat/speeches/2020/2020-sly-ef-04-08.pdf April 8, 2020 - Minutes of the Federal Open Market Committee, March 15, 2020. www.federalreserve.gov/newsevents/pressreleases/monetary20200408a.htm April 8, 2020 - Federal Reserve Board announces, due to the extraordinary disruptions from the coronavirus, that it will temporarily and narrowly modify the growth restriction on Wells Fargo so that it can provide additional support to small businesses www.federalreserve.gov/newsevents/pressreleases/enforcement20200408a.htm April 7, 2020 - Troubled Debt Restructurings : Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working With Customers Affected by COVID-19 (Revised) - The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Consumer Financial Protection Bureau, the Federal Deposit Insurance Corporation, and the National Credit Union Administration, in consultation with the state financial regulators, today issued a revised interagency statement to provide information to financial institutions that are working with borrowers affected by the coronavirus. www.occ.gov/news-issuances/bulletins/2020/bulletin-2020-35.html April 7, 2020 - Bank Secrecy Act/Anti-Money Laundering : OCC Supports FinCEN�s Regulatory Relief and Risk-Based Approach for Financial Institution Compliance in Response to COVID-19 - The Office of the Comptroller of the Currency recognizes the recent disruptions and significant challenges faced by banks as a result of the coronavirus disease. www.occ.gov/news-issuances/bulletins/2020/bulletin-2020-34.html April 7, 2020 - Sowing the Seeds of Financial Imbalances: The Role of Macroeconomic Performance - Elena Afanasyeva, Sam Jerow, Seung Jung Lee, and Michele Modugno - The seeds of financial imbalances are sown in times of buoyant economic growth. We study the link between macroeconomic performance and financial imbalances, focusing on the experience of the United States since the 1960s. www.federalreserve.gov/econres/feds/sowing-the-seeds-of-financial-imbalances-the-role-of-macroeconomic-performance.htm April 7, 2020 - Statistical Release - Consumer Credit - G.19 - Starting with the April 2020 G.19 Consumer Credit statistical release, scheduled to be published on June 5, 2020, the release will no longer report the levels and flows of on-book loan balances and off-book securitized loan balances as separate line items. www.federalreserve.gov/releases/g19/current/default.htm April 7, 2020 - Agencies issue revised interagency statement on loan modifications by financial institutions working with customers affected by the coronavirus - The federal financial institution regulatory agencies, in consultation with state financial regulators, issued a revised interagency statement encouraging financial institutions to work constructively with borrowers affected by COVID-19 and providing additional information regarding loan modifications. Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20200407a.htm Press Release: www.fdic.gov/news/news/press/2020/pr20049.html Press Release: www.occ.gov/news-issuances/news-releases/2020/nr-ia-2020-50.html Press Release: www.ncua.gov/newsroom/press-release/2020/agencies-issue-revised-interagency-statement-loan-modifications-financial-institutions-working April 6, 2020 - Small Business Administration and Treasury Small Business Loan Programs - The Federal Reserve is issuing this letter to inform supervised financial institutions about several forms of relief available to small businesses affected by COVID-19 as a result of the Coronavirus Aid, Relief, and Economic Security Act. www.federalreserve.gov/supervisionreg/srletters/SR2010.htm April 6, 2020 - Federal Reserve will establish a facility to facilitate lending to small businesses via the Small Business Administration's Paycheck Protection Program by providing term financing backed by PPP loans. www.federalreserve.gov/newsevents/pressreleases/monetary20200406a.htm April 6, 2020 - Federal Reserve Board accepting applications for its Community Advisory Council - It advises the Board on issues affecting consumers and communities and complements two of the Board's other advisory councils whose members represent depository institutions - the Federal Advisory Council and the Community Depository Institutions Advisory Council. www.federalreserve.gov/newsevents/pressreleases/other20200406a.htm April 6, 2020 - Agencies announce changes to the community bank leverage ratio - The federal bank regulatory agencies today announced the issuance of two interim final rules to provide temporary relief to community banking organizations. Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20200406a.htm Press Release: www.fdic.gov/news/news/press/2020/pr20048.html Press Release: www.occ.gov/news-issuances/news-releases/2020/nr-ia-2020-49.html April 6, 2020 - NCUA Marks National Financial Capability Month, Military Saves Month - The National Credit Union Administration will promote financial preparedness for credit union members, consumers, and service members and their families during National Financial Capability Month and Military Saves Month, both of which run through April 30. www.ncua.gov/newsroom/press-release/2020/ncua-marks-national-financial-capability-month-military-saves-month April 3, 2020 - MVB Bank, Inc. of Fairmont, West Virginia, Acquires The First State Bank, Barboursville, West Virginia - The First State Bank, based in Barboursville, West Virginia, was closed today by the West Virginia Division of Financial Institutions, which appointed the Federal Deposit Insurance Corporation as receiver. www.fdic.gov/news/news/press/2020/pr20046.html April 3, 2020 - FDIC Extends Comment Period on Modernizing Brokered Deposit Restrictions - In light of the challenges associated with COVID-19, the Federal Deposit Insurance Corporation today announced that it will extend the public comment period for its proposed rule to modernize its brokered deposit regulations by 60 days. www.fdic.gov/news/news/press/2020/pr20045.html April 3, 2020 - 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. The list covers evaluation ratings that the FDIC assigned to institutions in January 2020. www.fdic.gov/news/news/press/2020/pr20044.html April 3, 2020 - Sovereign Risk Matters: The Effects of Endogenous Default Risk on the Time-Varying Volatility of Interest Rate Spreads - Sergio de Ferra and Enrico Mallucci - Emerging market interest rate spreads display substantial time-varying volatility. www.federalreserve.gov/econres/ifdp/sovereign-risk-matters-effects-endogenous-default-risk-on-time-varying-volatility-interest-rate-spreads.htm April 3, 2020 - Mortgage Servicing : Joint Statement on Supervisory and Enforcement Practices Related to Provisions of the CARES Act - The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Consumer Financial Protection Bureau, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Conference of State Bank Supervisors today issued a joint statement relating to supervision and enforcement of certain provisions of the mortgage servicing rules when banks provide short-term relief, including forbearance on federally backed mortgage loans, as required by the Coronavirus Aid, Relief, and Economic Security Act. www.occ.gov/news-issuances/bulletins/2020/bulletin-2020-32.html April 3, 2020 - FOIA - Chair Powell's calendar, February 2020. www.federalreserve.gov/foia/chairman-powell-calendar.htm April 3, 2020 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm April 3, 2020 - Federal Agencies Encourage Mortgage Servicers to Work With Struggling Homeowners Affected by COVID-19 - The actions announced today by the agencies inform servicers of the agencies� flexible supervisory and enforcement approach during the COVID-19 emergency regarding certain communications to consumers required by the mortgage servicing rules. Press Release: www.occ.gov/news-issuances/news-releases/2020/nr-ia-2020-48.html Press Release: www.ncua.gov/newsroom/press-release/2020/federal-and-state-agencies-encourage-mortgage-servicers-work-struggling-homeowners-affected-covid-19 April 2, 2020 - Small Business Administration Lending : New Programs for Small Business Relief - The Office of the Comptroller of the Currency is providing awareness to banks about new and expanded small business relief programs administered by the U.S. Small Business Administration. www.occ.gov/news-issuances/bulletins/2020/bulletin-2020-31.html April 2, 2020 - SF Fed COVID-19 Resources. www.frbsf.org/our-district/press/news-releases/2020/sf-fed-covid19-resources/ |
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