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August 31, 2018 - Index points to little change in Midwest economic growth in July - The Midwest Economy Index ticked up to +0.46 in July from +0.42 in June. Contributions to the July MEI from three of the four broad sectors of nonfarm business activity and three of the five Seventh Federal Reserve District states increased from June. www.chicagofed.org/~/media/publications/mei/2018/mei-july2018-pdf.pdf August 31, 2018 - Melrose Credit Union Closes; Teachers Federal Credit Union Assumes Members, Shares, and Some Loans and Other Assets -- Member Deposits Protected to $250,000; Member Services Uninterrupted - The National Credit Union Administration today liquidated Melrose Credit Union of Briarwood, New York. www.ncua.gov/newsroom/Pages/news-2018-aug-melrose-credit-union-closes.aspx August 31, 2018 - NCUA Issues Prohibition Notices - The National Credit Union Administration issued one prohibition order and three prohibition notices in August. These individuals are prohibited from participating in the affairs of any federally insured financial institution. www.ncua.gov/newsroom/Pages/news-2018-aug-ncua-issues-prohibition-notices.aspx August 31, 2018 - Other Real Estate Owned: Updated Comptroller’s Handbook Booklet - The Office of the Comptroller of the Currency today issued the updated1 “Other Real Estate Owned” booklet of the Comptroller’s Handbook, which provides guidance to examiners on banks’ acquisition, reporting, management, and disposition of other real estate owned. www.occ.treas.gov/news-issuances/bulletins/2018/bulletin-2018-26.html August 31, 2018 - FDIC Issues CRA Examination Schedules for Fourth Quarter 2018 and First Quarter 2019 - The Federal Deposit Insurance Corporation today issued the lists of institutions scheduled for a Community Reinvestment Act examination during the fourth quarter of 2018 and first quarter of 2019. www.fdic.gov/news/news/press/2018/pr18054.html August 31, 2018 - FDIC Makes Public July Enforcement Actions;No Administrative Hearings Scheduled for September 2018 - The Federal Deposit Insurance Corporation today released a list of orders of administrative enforcement actions taken against banks and individuals in July. There are no administrative hearings scheduled for September 2018. www.fdic.gov/news/news/press/2018/pr18053.html August 31, 2018 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm August 31, 2018 - The Role of Expectations in Changed Inflation Dynamics - Damjan Pfajfar and John M. Roberts - The Phillips curve has been much flatter in the past twenty years than in the preceding decades. We consider two hypotheses. www.federalreserve.gov/econres/feds/files/2018062pap.pdf August 30, 2018 - OCC Hosts Virginia Workshop for Board Directors and Bank Management - The Office of the Comptroller of the Currency will host a workshop in Charlottesville, Va., at the Holiday Inn Charlottesville-University Area, October 2-3, for directors, senior management team members, and other key executives of national community banks and federal savings associations supervised by the OCC. www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-89.html August 30, 2018 - Information and Liquidity of OTC Securities: Evidence from Public Registration of Rule 144A Bonds - Song Han, Alan G. Huang, Madhu Kalimipalli, and Ke Wang - The Rule 144A private debt represents a significant and growing segment of the U.S. bond market. www.federalreserve.gov/econres/feds/files/2018061pap.pdf August 30, 2018 - Agencies extend deadline for certain resolution plan submissions - The Federal Reserve Board and the FDIC on Thursday announced that they have extended the next resolution plan filing deadline for a designated nonbank to December 31, 2019, and the deadline for four foreign banking organizations to July 1, 2020. Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20180830a.htm Press Release: www.fdic.gov/news/news/press/2018/pr18052.html _________________________ August 30, 2018 - Seasonal and Business Cycles of U.S. Employment By Menelik Geremew , Fran�ois Gourio - The U.S. economy alternates between periods of expansion, when employment and production grow, and periods of recession, when they fall. This pattern is called the business cycle. www.chicagofed.org/publications/economic-perspectives/2018/3 August 30, 2018 - Federal Reserve Board issues enforcement action with The Bank of New York Mellon and announces termination of enforcement action with UCB Financial Group, Inc. www.federalreserve.gov/newsevents/pressreleases/enforcement20180830a.htm August 29, 2018 - Determinants of Housing Values and Variations in Home Prices Across Neighborhoods in Cook County By Maude Toussaint-Comeau , Jin Man Lee - From 2007 to 2009, the U.S. underwent one of the worst recessions in its history, a recession triggered by an unprecedented, international financial crisis that resulted from institutional portfolio concentration in securities backed by home mortgages, and the collapse of that securities market. www.chicagofed.org/publications/profitwise-news-and-views/2018/determinants-of-housing-values-and-variations-in-home-prices-across-neighborhoods-in-cook-county August 29, 2018 - OCC Issues Fourth Quarter 2018 and First Quarter 2019 CRA Evaluation Schedule - The Office of the Comptroller of the Currency today released its schedule of Community Reinvestment Act evaluations to be conducted in the fourth quarter of 2018 and first quarter of 2019. www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-88.html August 29, 2018 - The Monetary Policy Response to Uncertain Inflation Persistence - A critical component of the design of monetary policy is policymakers' perception of the persistence of inflation, either on its own, or as a proxy for the behavior of long-term inflation expectations. www.federalreserve.gov/econres/notes/feds-notes/monetary-policy-response-to-uncertain-inflation-persistence-20180829.htm August 29, 2018 - Automated Clearinghouse Services, Quarterly data updates. www.federalreserve.gov/paymentsystems/fedach_data.htm August 29, 2018 - Check Services, Quarterly data updates. www.federalreserve.gov/paymentsystems/check_data.htm August 29, 2018 - National Settlement Service, Quarterly data updates. www.federalreserve.gov/paymentsystems/natl_qtr.htm August 29, 2018 - Fedwire Securities Service, Quarterly data updates. www.federalreserve.gov/paymentsystems/fedsecs_qtr.htm August 29, 2018 - Fedwire Funds Service, Quarterly data updates. www.federalreserve.gov/paymentsystems/fedfunds_qtr.htm August 29, 2018 - Annual Data on Manufacturing Investment and Capital - G.17. www.federalreserve.gov/releases/g17/download.htm August 29, 2018 - Chicago Fed National Activity Index - Index points to a moderation in economic growth in July - Led by slower growth in production-related indicators, the Chicago Fed National Activity Index declined to +0.13 in July from +0.48 in June. www.chicagofed.org/~/media/publications/cfnai/2018/cfnai-august2018-pdf.pdf August 28, 2018 - OCC Seeks Members for Its Mutual Savings Association Advisory Committee - The Office of the Comptroller of the Currency is seeking nominations for members of its Mutual Savings Association Advisory Committee. www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-86.html August 28, 2018 - OCC Seeks Members for Its Minority Depository Institutions Advisory Committee - The Office of the Comptroller of the Currency is seeking nominations for members of its Minority Depository Institutions Advisory Committee. www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-85.html August 27, 2018 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at 10:45 a.m. on August 27, 2018. 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/20180827closed.htm August 24, 2018 - OCC Hosts Minority Depository Institutions Advisory Committee Meeting - The Office of the Comptroller of the Currency today announced it will host a public meeting of the Minority Depository Institutions Advisory Committee on Tuesday, September 18, 2018, beginning at 8:30 a.m., Eastern Daylight Time. www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-84.html August 24, 2018 - OCC Allows National Banks and Federal Savings Associations Affected by Hurricane Lane in the Hawaiian Islands to Close - The Office of the Comptroller of the Currency today issued a proclamation allowing national banks, federal savings associations, and federal branches and agencies of foreign banks affected by severe weather conditions associated with Hurricane Lane in the Hawaiian Islands to close. www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-83.html August 24, 2018 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm August 24, 2018 - Speech by Chairman Powell on monetary policy in a changing economy Chairman Jerome H. Powell At "Changing Market Structure and Implications for Monetary Policy," a symposium sponsored by the Federal Reserve Bank of Kansas City, Jackson Hole, Wyoming. www.federalreserve.gov/newsevents/speech/powell20180824a.htm August 23, 2018 - Federal Reserve announces results of offering of seven-day term deposits on August 23. www.federalreserve.gov/newsevents/pressreleases/monetary20180823a.htm August 23, 2018 - Agencies issue interim final rules expanding examination cycles for qualifying small banks and U.S. branches and agencies of foreign banks - Federal banking agencies today issued interim final rules to expand the number of insured depository institutions and U.S. branches and agencies of foreign banks eligible for an 18-month on-site examination cycle. Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20180823a.htm Press Release: www.fdic.gov/news/news/press/2018/pr18051.html Press Release: www.occ.gov/news-issuances/news-releases/2018/nr-ia-2018-82.html _________________________ August 23, 2018 - FDIC-Insured Institutions Reported $60.2 Billion in Second Quarter 2018 - Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation reported aggregate net income of $60.2 billion in the second quarter of 2018, up $12.1 billion (25.1 percent) from a year ago. www.fdic.gov/news/news/press/2018/pr18050.html August 23, 2018 - 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 August 27, 2018. 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/20180827closed.htm August 23, 2018 - Some Implications of Uncertainty and Misperception for Monetary Policy - Christopher Erceg, James Hebden, Michael T. Kiley, J David Lopez-Salido, and Robert J. Tetlow - When choosing a strategy for monetary policy, policymakers must grapple with mismeasurement of labor market slack, and of the responsiveness of price inflation to that slack. www.federalreserve.gov/econres/feds/files/2018059pap.pdf August 23, 2018 - Federal Reserve Board to host "Exploring Careers in Economics" on October 19 - The Federal Reserve Board on August 23, 2018, announced it will host Exploring C areers in Economics, a live event for high school and college students, beginning at 10:30 a.m. on October 19, 2018. www.federalreserve.gov/newsevents/pressreleases/other20180823a.htm August 23, 2018 - Federal Reserve Board announces termination of enforcement action with Covenant Bancgroup, Inc. www.federalreserve.gov/newsevents/pressreleases/enforcement20180823a.htm August 23, 2018 - NCUA Issues Third Quarter Newsletter - The latest issue of The NCUA Report features a column from NCUA Board Chairman J. Mark McWatters as well as articles from several NCUA offices on the agency�s initiatives and information on regulatory, supervisory, and compliance issues affecting federally insured credit unions. www.ncua.gov/newsroom/Pages/news-2018-aug-ncua-issues-third-quarter-newsletter.aspx August 22, 2018 - U.S. and Oklahoma Economic Outlook By Chad Wilkerson. https://www.kansascityfed.org/newsroom August 22, 2018 - The Heterogeneous Effects of Government Spending: It's All About Taxes - Axelle Ferriere and Gaston M. Navarro - This paper investigates how government spending multipliers depend on the distribution of taxes across households. www.federalreserve.gov/econres/ifdp/files/ifdp1237.pdf August 22, 2018 - Agencies issue interim final rule regarding the treatment of certain municipal securities as high-quality liquid assets - Three federal banking agencies today issued an interim final rule amending the agencies' liquidity rules to treat certain eligible municipal securities as high-quality liquid assets, as required by the Economic Growth, Regulatory Relief, and Consumer Protection Act of 2018 . Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20180822a.htm Press Release: www.fdic.gov/news/news/press/2018/pr18049.html Press Release: www.occ.gov/news-issuances/news-releases/2018/nr-ia-2018-81.html August 22, 2018 - Minutes of the Federal Open Market Committee, July 31-August 1, 2018. www.federalreserve.gov/newsevents/pressreleases/monetary20180822a.htm August 21, 2018 - Statistical Release - Charge-Off and Delinquency Rates on Loans and Leases at Commercial Banks. www.federalreserve.gov/releases/chargeoff/default.htm August 21, 2018 - Why Has the Stock Market Risen So Much Since the US Presidential Election? - Olivier Blanchard, Christopher G. Collins, Mohammad R. Jahan-Parvar, Thomas Pellet, and Beth Anne Wilson - This paper looks at the evolution of U.S. stock prices from the time of the Presidential elections to the end of 2017. www.federalreserve.gov/econres/ifdp/2018.htm#20181235 August 21, 2018 - Asset Price Learning and Optimal Monetary Policy - Colin C. Caines and Fabian Winkler - We characterize optimal monetary policy when agents are learning about endogenous asset prices. Boundedly rational expectations induce inefficient equilibrium asset price fluctuations which translate into inefficient aggregate demand fluctuations. www.federalreserve.gov/econres/ifdp/files/ifdp1236.pdf August 20, 2018 - Modifications to the Statement of Policy for Section 19 of the Federal Deposit Insurance Act - The FDIC has issued modifications to its Statement of Policy for Section 19 of the Federal Deposit Insurance Act. Section 19 prohibits, without the prior written consent of the FDIC, a person convicted of any criminal offense involving dishonesty, breach of trust, money laundering, or who has entered into a pretrial diversion or similar program in connection with a prosecution for such offense, from participating in the affairs of an FDIC-insured institution. www.fdic.gov/news/news/financial/2018/fil18042.html August 20, 2018 - The Branch Puzzle: Why Are there Still Bank Branches? - Elliot Anenberg, Andrew C. Chang, Serafin Grundl, Kevin B. Moore, and Richard Windle - Over the past 25 years, advancements in information technology have allowed for many banking services to be conducted online instead of in a local bank branch. www.federalreserve.gov/econres/notes/feds-notes/why-are-there-still-bank-branches-20180820.htm August 20, 2018 - David W. Wilcox, director of the Division of Research and Statistics, to retire at year end - David W. Wilcox, director of the Division of Research and Statistics, will retire at the end of this year after 30 years of service with the Federal Reserve Board, including seven years as the director of the division. www.federalreserve.gov/newsevents/pressreleases/other20180820a.htm August 17, 2018 - International Guidance for Central Counterparties - A �Principled� Approach to International Guidance for Central Counterparties By Rebecca Lewis - Following the 2007�08 financial crisis, the G20 agreed to implement a clearing mandate, requiring all standardized over-the-counter derivatives to be cleared through a central counterparty. www.chicagofed.org/publications/chicago-fed-letter/2018/400 August 17, 2018 - Kansas City Fed marks 42nd Economic Policy Symposium - The Federal Reserve Bank of Kansas City�s annual Economic Policy Symposium begins Thursday, Aug. 23, at Jackson Hole, Wyo., bringing together central bankers, academics, economists and media from around world to discuss �Changing Market Structure and Implications for Monetary Policy.� www.kansascityfed.org/~/media/files/publicat/newsroom/2018/pressrelease_jacksonhole18.pdf August 17, 2018 - U.S. and Oklahoma Economic Outlook By Chad Wilkerson Oklahoma City Branch Executive and Economist. www.kansascityfed.org/~/media/files/publicat/speeches/2018/2018-wilkerson-oba-emerging-leaders-08-18.pdf August 17, 2018 - Oil, Equities, and the Zero Lower Bound - Deepa Datta, Benjamin K. Johannsen, Hannah Kwon, and Robert J. Vigfusson - From late 2008 to 2017, oil and equity returns were more positively correlated than in other periods. In addition, we show that both oil and equity returns became more responsive to macroeconomic news. www.federalreserve.gov/econres/feds/files/2018058pap.pdf August 17, 2018 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm August 17, 2018 - Credit and Liquidity Programs and the Balance Sheet - Federal Reserve Banks Combined Quarterly Financial Reports (Unaudited). www.federalreserve.gov/aboutthefed/combined-quarterly-financial-reports-unaudited.htm August 17, 2018 - Credit and Liquidity Programs and the Balance Sheet - Quarterly Report on Federal Reserve Balance Sheet Developments, August 2018 - The Federal Reserve prepares this quarterly report as part of its efforts to enhance transparency about its balance sheet, financial information, and monetary policy tools, and to ensure appropriate accountability to the Congress and the public. www.federalreserve.gov/monetarypolicy/quarterly-balance-sheet-developments-report.htm August 17, 2018 - Federal Reserve Board prohibits former president and CEO of NBRS Financial from participating in the banking industry - The Federal Reserve Board on Friday announced it is prohibiting Jacob H. Goldstein, a former president and CEO of NBRS Financial, Rising Sun, Maryland from participating in the banking industry. www.federalreserve.gov/newsevents/pressreleases/enforcement20180817a.htm ______________________ August 16, 2018 - GoCPS: A First Look at Applications and Offers By Lisa Barrow, Lauren Sartain, & Marisa de la Torre - Chicago Public Schools offers many options when it comes to high school enrollment. In fact, about three of every four incoming ninth graders choose to attend a high school other than their assigned neighborhood school. www.chicagofed.org/~/media/others/people/research-resources/barrow/2018-barrow-sartain-delatorre-go-cps-white-paper-pdf.pdf August 16, 2018 - Federal Reserve Board announces termination of enforcement actions with Flagstar Bancorp, Inc., and Santander Holdings USA, Inc. www.federalreserve.gov/newsevents/pressreleases/enforcement20180816a.htm August 16, 2018 - Federal Reserve to offer seven-day term deposits on August 23 - The Federal Reserve plans to continue its previously announced periodic testing of the Term Deposit Facility with one operation in August. www.federalreserve.gov/newsevents/pressreleases/monetary20180816a.htm August 15, 2018 - Community Reinvestment Act: Revisions to Impact of Evidence of Discriminatory or Other Illegal Credit Practices on Community Reinvestment Act Ratings - The Office of the Comptroller of the Currency is issuing this bulletin to make public the revised Policies and Procedures Manual 5000-43, which clarifies the OCC�s policy for applying the regulatory framework to determine the effect of evidence of discriminatory or other illegal credit practices on the Community Reinvestment Act rating of a national bank, federal savings association, or federal branch. www.occ.treas.gov/news-issuances/bulletins/2018/bulletin-2018-23.html August 15, 2018 - OCC Hosts Compliance and Operational Risk Workshops in Houston - The Office of the Comptroller of the Currency will host two workshops in Houston at the Houston Marriott South at Hobby Airport, September 25 and 26, for directors of national community banks and federal savings associations supervised by the OCC. www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-79.html August 15, 2018 - Bank Accounting Advisory Series Updated - The Office of the Comptroller of the Currency today released an update to the Bank Accounting Advisory Series. www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-78.html August 15, 2018 - Statistical Release - Industrial Production and Capacity Utilization - G.17 - Industrial production edged up 0.1 percent in July after rising at an average pace of 0.5 percent over the previous five months. Manufacturing production increased 0.3 percent, the output of utilities moved down 0.5 percent, and, after posting five consecutive months of growth, the index for mining declined 0.3 percent. www.federalreserve.gov/releases/g17/Current/ August 14, 2018 - St. Louis Fed Announces 2018-2019 Student Board of Directors - High school seniors from across the greater St. Louis area are selected based on a rigorous application process, which includes an essay and letters of recommendation. www.stlouisfed.org/news-releases/2018/08/14/st-louis-fed-announces-2018-2019-student-board-of-directors August 14, 2018 - Report to the Congress on Government-Administered, General-Use Prepaid Cards, August 2018 - The Board's annual report to the Congress on the use of general-use prepaid cards in federal, state, and local government-administered payment programs and on the interchange fees and cardholder fees charged with respect to the use of those cards. www.federalreserve.gov/publications/government-prepaid-executive.htm August 14, 2018 - Hidden Baggage: Behavioral Responses to Changes in Airline Ticket Tax Disclosure - Sebastien Bradley and Naomi E. Feldman - We examine the impact on air travelers of an enforcement action issued by the U.S. Department of Transportation in January 2012 that required U.S. air carriers and online travel agents to incorporate all mandatory taxes and fees into their advertised fares. www.federalreserve.gov/econres/feds/files/2018057pap.pdf August 14, 2018 - Federal Reserve Board announces termination of enforcement actions with HSBC North America Holdings, Inc., Capital Funding Bancorp, Inc. and CFG Community Bank, and CommerceWest Bank. www.federalreserve.gov/newsevents/pressreleases/enforcement20180814a.htm August 13, 2018 - NCUA - McWatters: Financial Literacy is Key to Protecting Service Members - Financial regulatory agencies, non-profits, schools financial institutions, and the military must work together to improve the personal finance knowledge of service members and their families to prevent them from being financially exploited, NCUA Board Chairman J. Mark McWatters said today. www.ncua.gov/newsroom/Pages/news-2018-aug-mcwatters-financial-literacy-key-protecting-service-members.aspx August 13, 2018 - FEDS Notes - SOMA's Unrealized Loss: What does it mean? - Brian Bonis, Lauren Fiesthumel, and Jamie Noonan - In May 2018, the Federal Reserve published its Federal Reserve Banks Combined Quarterly Financial Report for the first quarter of 2018. www.federalreserve.gov/econres/notes/feds-notes/somas-unrealized-loss-what-does-it-mean-20180813.htm August 13, 2018 - Are Income and Credit Scores Highly Correlated? - Rachael Beer, Felicia Ionescu, and Geng Li - Credit scores, a numerical indicator constructed to predict borrowers' credit risk, represent a crucial element of a person's financial life and are used extensively in loan underwriting and pricing. www.federalreserve.gov/econres/notes/feds-notes/are-income-and-credit-scores-highly-correlated-20180813.htm August 13, 2018 - A Shadow Rate or a Quadratic Policy Rule? The Best Way to Enforce the Zero Lower Bound in the United States - Martin M. Andreasen and Andrew Meldrum - We study whether it is better to enforce the zero lower bound in models of U.S. Treasury yields using a shadow rate model or a quadratic term structure model. www.federalreserve.gov/econres/feds/files/2018056pap.pdf August 10, 2018 - St. Louis Fed Ag Survey: Bankers See Decline in Farm Income and Quality Land Values in Second Quarter - The latest survey shows the majority of agricultural bankers expect farm income to decline next quarter, just as it did in this second quarter report. Quality farmland values also fell in the most recent survey, according to the latest Agricultural Finance Monitor published by the Federal Reserve Bank of St. Louis. www.stlouisfed.org/news-releases/2018/08/09/st-louis-fed-ag-survey-decline-in-farm-income-and-quality-land-values-in-second-quarter August 10, 2018 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm August 10, 2018 - Federal Reserve Board fines Citigroup $8.6 million for the improper execution of residential mortgage-related documents and announces termination of 2011 enforcement action. www.federalreserve.gov/newsevents/pressreleases/enforcement20180810a.htm August 9, 2018 - Anna Paulson Discusses Market Resiliency - Market Resiliency: Evidence from Money Market Mutual Fund Reform - A speech delivered by Anna Paulson on June 26, 2018, before the People�s Bank of China and Chicago Fed�s Symposium on Over-the-Counter Derivatives in Shanghai, China. www.chicagofed.org/publications/speeches/2018/06-26-2018-market-resiliency-evidence-from-money-market-mutual-fund-reform-paulson August 9, 2018 - OCC Allows Federally Chartered Financial Institutions Affected by Wildfires in California to Close - The Office of the Comptroller of the Currency today issued a proclamation allowing national banks, federal savings associations, and federal branches and agencies of foreign banks affected by wildfires and high winds in California to close. www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-77.html August 9, 2018 - Guidance to Help Financial Institutions and Facilitate Recovery in Areas of California Affected by Wildfires and High Winds - The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of California affected by wildfires and high winds. www.fdic.gov/news/news/financial/2018/fil18041.html ___________________ August 9, 2018 - NCUA - McWatters: Minority Credit Unions Play a Critical Role in Reaching the Underserved - Minority credit unions play a vital role in providing affordable financial services in the nation�s most underserved communities and the agency is looking at new ways to support them, NCUA Board Chairman J. Mark McWatters said today. www.ncua.gov/newsroom/Pages/news-2018-aug-mcwatters-minority-credit-unions-play-critical-role.aspx August 8, 2018 - OCC to Host Innovation Office Hours in New York - The Office of the Comptroller of the Currency today announced it will hold Innovation Office Hours, September 25-27, 2018, in New York to promote responsible innovation in the federal banking system. www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-76.html August 8, 2018 - The KC Fed LMCI suggest the level of activity increased modestly and momentum remained high in July - The Kansas City Fed Labor Market Conditions Indicators suggest the level of activity increased modestly and momentum remained high in July. The level of activity indicator increased in July from 0.75 to 0.84, while the momentum indicator was little changed at 1.43. www.kansascityfed.org/~/media/files/publicat/research/indicatorsdata/lmci/2018/lmci_080818.pdf August 8, 2018 - The KCFSI suggests financial stress remains subdued - The Kansas City Financial Stress Index increased from -0.59 in June to -0.44 in July. www.kansascityfed.org/~/media/files/publicat/research/indicatorsdata/kcfsi/2018/08-2018/kcfsi_0718.pdf August 7, 2018 - NCUA Files Notice of Charges Against Former Melrose CEO - NCUA Seeking Millions from the Melrose CEO for Breach of Duties - The National Credit Union Administration Board, under an infrequently used authority, has filed administrative charges against Alan S. Kaufman, former chief executive officer, treasurer, and board member of Melrose Credit Union. https://www.ncua.gov/newsroom/Pages/news-2018-aug-ncua-files-notice-charges-former-melrose-ceo.aspx August 7, 2018 - Addressing Displacement Pressures from Public Investment in Chicago�s Communities By Sarah Duda - This article profiles recent research from the Institute for Housing Studies on the topic of displacement, gentrification, and the role of public investment in driving neighborhood change. www.chicagofed.org/publications/profitwise-news-and-views/2018/addressing-displacement-pressures-from-public-investment-in-chicagos-communities August 7, 2018 - The Near-Term Forward Yield Spread as a Leading Indicator: A Less Distorted Mirror - Eric C. Engstrom, Steven A. Sharpe - The spread between the yield on a 10-year Treasury bond and the yield on a shorter maturity bond, such as a 2-year Treasury, is commonly used as an indicator for predicting U.S. recessions. www.federalreserve.gov/econres/feds/2018.htm#2018055 August 7, 2018 - Statistical Release - Consumer Credit - G.19 - Consumer credit increased at a seasonally adjusted annual rate of 4-1/2 percent during the second quarter. Revolving credit increased at an annual rate of 4 percent, while nonrevolving credit increased at an annual rate of 5 percent. In June, consumer credit increased at an annual rate of 3 percent. www.federalreserve.gov/releases/g19/current/default.htm August 7, 2018 - Financial Frictions, Financial Shocks, and Aggregate Volatility - Cristina Fuentes-Albero - The Great Moderation in the U.S. economy was accompanied by a widespread increase in the volatility of financial variables. www.federalreserve.gov/econres/feds/files/2018054pap.pdf August 6, 2018 - Senior Loan Officer Opinion Survey on Bank Lending Practices - The July 2018 Senior Loan Officer Opinion Survey on Bank Lending Practices addressed changes in the standards and terms on, and demand for, bank loans to businesses and households over the past three months, which generally correspond to the second quarter of 2018. www.federalreserve.gov/data/sloos/sloos-201807.htm August 3, 2018 - U.S. and Oklahoma Economic Outlook By Chad Wilkerson Oklahoma City Branch Executive and Economist. www.kansascityfed.org/~/media/files/publicat/speeches/2018/2018-wilkerson-govtfinanceofficersok-08-18.pdf August 3, 2018 - FDIC Publishes 25th Anniversary Special Edition of Consumer Newsletter - FDIC Consumer News, the newsletter published quarterly by the Federal Deposit Insurance Corporation since the fall of 1993, is celebrating its 25th anniversary with a special expanded edition featuring updated versions of 25 of our more popular articles. www.fdic.gov/news/news/press/2018/pr18048.html August 3, 2018 - 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/2018/pr18047.html August 3, 2018 - FOIA - Chairman Powell's calendar, June 2018. www.federalreserve.gov/foia/chairmanscalendar-062018.htm August 3, 2018 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm August 3, 2018 - Tapping into Financial Synergies: Alleviating Financial Constraints Through Acquisitions - Rohan Williamson and Jie Yang - The paper examines whether financially constrained firms are able to use acquisitions to ease their constraints. The results show that acquisitions do ease financing constraints for constrained acquirers. www.federalreserve.gov/econres/feds/files/2018053pap.pdf August 3, 2018 - First to "Read" the News: New Analytics and Algorithmic Trading - Bastian von Beschwitz, Donald B. Keim, and Massimo Massa - Exploiting a unique identification strategy based on inaccurate news analytics, we document a causal effect of news analytics on the market irrespective of the informational content of the news. www.federalreserve.gov/econres/ifdp/files/ifdp1233.pdf August 3, 2018 - Federal Reserve Board announces approval of application by Nordea Bank Abp, Helsinki, Finland, to establish a branch in New York, New York. www.federalreserve.gov/newsevents/pressreleases/orders20180803a.htm August 2, 2018 - OCC Releases CRA Evaluations for 40 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 July 1, 2018 through July 31, 2018. www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-75.html August 2, 2018 - Federal Reserve Bank of Chicago�s Detroit Branch Announces New Board Member - The Federal Reserve Bank of Chicago�s Detroit Branch today announced a new member of its board of directors, effective immediately. www.chicagofed.org/publications/news/2018/detroit-release-8-2-2018 August 2, 2018 - NCUA - Proposed Risk-Based Capital Rule Adds One-Year Delay, Exempts More Credit Unions - Budget Review Projects Nearly $8.5 Million Operating Budget Net Savings - The National Credit Union Administration Board held its seventh open meeting of 2018 at the agency�s headquarters today and unanimously approved five items: www.ncua.gov/newsroom/Pages/news-2018-aug-proposed-risk-based-capital-rule-adds-one-year-delay.aspx ___________________________ August 1, 2018 - William J. �Bill� Mines Joins St. Louis Fed�s Transportation Industry Council - William J. �Bill� Mines of Bentonville, Ark., has been named to the Transportation Industry Council of the Federal Reserve Bank of St. Louis. Mines is the senior vice president of finance and strategy, Supply Chain, for Walmart U.S. in Bentonville. www.stlouisfed.org/news-releases/2018/08/01/william-j-bill-mines-joins-st-louis-fed-transportation-industry-council August 1, 2018 - Statistical Release - Foreign Exchange Rates - G.5 - The table below shows the average rates of exchange in JULY 2018 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. https://www.federalreserve.gov/releases/g5/current/default.htm August 1, 2018 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at on July 31, 2018 and continued at 9:00 a.m. on August 1, 2018. Matter(s) considered: Discussion of Monetary Policy Issues. www.federalreserve.gov/aboutthefed/boardmeetings/20180731closed.htm August 1, 2018 - Federal Reserve issues FOMC statement - Information received since the Federal Open Market Committee met in June indicates that the labor market has continued to strengthen and that economic activity has been rising at a strong rate. Job gains have been strong, on average, in recent months, and the unemployment rate has stayed low. www.federalreserve.gov/newsevents/pressreleases/monetary20180801a.htm |
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