The E-mail Banking News
(Bank Regulatory News)

August 2019

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August 30, 2019 - Midwest Economy Index - Index points to little change in Midwest economic growth in July - The Midwest Economy Index edged up to 0.27 in July from 0.30 in June.  www.chicagofed.org/~/media/publications/mei/2019/mei-july2019-pdf.pdf

August 30, 2019 - NCUA Issues Prohibition Notices and Order - These six individuals are prohibited from participating in the affairs of any federally insured financial institution. www.ncua.gov/newsroom/press-release/2019/ncua-issues-prohibition-notices-and-order

August 30, 2019 - OCC Allows National Banks and Federal Savings Associations Affected by Hurricane Dorian in Southeast United States to Close. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-101.html

August 30, 2019 - The Federal Financial Institutions Examination Council today announced the availability of data on mortgage lending transactions at 5,683 U.S. financial institutions covered by the Home Mortgage Disclosure Act. Covered institutions include banks, savings associations, credit unions, and mortgage companies. www.ffiec.gov/press/pr083019.htm

August 30, 2019 - FDIC Issues CRA Examination Schedules for Fourth Quarter 2019 and First Quarter 2020 - The Federal Deposit Insurance Corporation today issued the lists of institutions scheduled for a Community Reinvestment Act examination during the fourth quarter of 2019 and first quarter of 2020.   www.fdic.gov/news/news/press/2019/pr19076.html

August 30, 2019 - FDIC Makes Public July Enforcement Actions - The FDIC issued a total of 14 orders and one notice of charges in July 2019. www.fdic.gov/news/news/press/2019/pr19075.html

August 30, 2019 - Publications - Independent Foreclosure Review Final Report - In 2011 and 2012, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Office of Thrift Supervision issued formal enforcement actions against 16 mortgage servicing companies after examiners identified a pattern of misconduct and negligence related to deficient practices in residential mortgage loan servicing and foreclosure processing during reviews conducted from November 2010 to January 2011. www.federalreserve.gov/publications/files/independent-foreclosure-review-2019.pdf

August 30, 2019 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

August 30, 2019 - The Distributional Financial Accounts - Michael Batty, Joseph Briggs, Karen Pence, Paul Smith, and Alice Volz - The Distributional Financial Accounts provide quarterly measures of the distribution of aggregate U.S. household wealth, beginning with the third quarter of 1989. www.federalreserve.gov/econres/notes/feds-notes/the-distributional-financial-accounts-20190830.htm
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August 28, 2019 - Comptroller of the Currency Visits New Mexico Pueblos to Discuss Community Reinvestment Act and Bank Services - Comptroller of the Currency Joseph Otting today visited Native American pueblos in New Mexico as part of a nationwide effort to discuss modernizing Community Reinvestment Act regulations and opportunities to bring more investment, lending, and services to underserved areas. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-100.html 

August 28, 2019 - Emerging Trends in the U.S. and Regional Economies By Alison Felix Economist and Branch Executive Federal Reserve Bank of Kansas City Denver Branch.   www.kansascityfed.org/~/media/files/publicat/speeches/2019/2019-felix-womeninbanking-08-28.pdf

August 28, 2019 - NCUA - Williams Chosen as Confidential Assistant to NCUA Chairman Hood - The National Credit Union Administration today announced the selection of Hallie Williams as confidential assistant to NCUA Chairman Rodney E. Hood. www.ncua.gov/newsroom/press-release/2019/williams-chosen-confidential-assistant-ncua-chairman-hood

August 28, 2019 - NCUA - FFIEC Encourages Standardized Approach to Assessing Cybersecurity Preparedness - The members note that firms adopting a standardized approach are better able to track their progress over time, and share information and best practices with other financial institutions and with regulators. www.ncua.gov/newsroom/press-release/2019/ffiec-encourages-standardized-approach-assessing-cybersecurity-preparedness 

August 28, 2019 - The Federal Financial Institutions Examination Council members today emphasized the benefits of using a standardized approach to assess and improve cybersecurity.    www.ffiec.gov/press/pr082819.htm

August 27, 2019 - Reforming Social Security to Save Social Security By Abdoulaye Ndiaye , Lisa Camner McKay - Changing the income tax system and increasing the benefit to delaying retirement may preserve the social insurance guarantee to retirees. www.chicagofed.org/publications/chicago-fed-letter/2019/419

August 27, 2019 - NCUA Urges Credit Unions to Prepare for Tropical Storm Dorian - The National Credit Union Administration is advising credit unions in the path of Tropical Storm Dorian to take precautions as the storm enters the eastern Caribbean. www.ncua.gov/newsroom/press-release/2019/ncua-urges-credit-unions-prepare-tropical-storm-dorian

August 27, 2019 - Flood Disaster Protection Act : Revised Interagency Examination Procedures - The Task Force on Consumer Compliance of the Federal Financial Institutions Examination Council1 adopted revised interagency examination procedures for the Flood Disaster Protection Act.  www.occ.gov/news-issuances/bulletins/2019/bulletin-2019-42.html

August 27, 2019 - OCC Issues Fourth Quarter 2019 and First Quarter 2020 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 2019 and first quarter 2020. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-99.html

August 27, 2019 - Interagency Webinar: Applying Model Risk Management to Current Expected Credit Losses Models at Large Banks - The FDIC, the Federal Reserve, and the Office of the Comptroller of the Currency will jointly host a webinar to clarify the use of model risk management by large institutions for model-based processes employed in their CECL frameworks. The webinar is scheduled for Tuesday, September 3, 2019, at 2:00 p.m. Eastern Daylight Time. www.fdic.gov/news/news/financial/2019/fil19048.html

August 27, 2019 - Risk-Focused, Forward-Looking Safety and Soundness Supervision - The FDIC is updating its Risk Management Manual of Examination Policies (the Manual) to incorporate a new section titled Risk-Focused, Forward-Looking Safety and Soundness Supervision.  www.fdic.gov/news/news/financial/2019/fil19047.html

August 27, 2019 - Minutes of the Board's discount rate meetings from July 1 through July 31, 2019.  www.federalreserve.gov/newsevents/pressreleases/monetary20190827a.htm

August 26, 2019 - Chicago Fed National Activity Index - Index points to slower economic growth in July - Led by declines in production-related indicators, the Chicago Fed National Activity Index fell to �0.36 in July from +0.03 in June.  www.chicagofed.org/~/media/publications/cfnai/2019/cfnai-august2019-pdf.pdf

August 26, 2019 - OCC Hosts Mutual Savings Association Advisory Committee Meeting September 17 - The purpose of the MSAAC meeting is to advise the OCC on regulatory changes or other steps the OCC may be able to take to ensure the continued health and viability of mutual savings associations and other issues of concern to mutual savings associations. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-97.html

August 26, 2019 - OCC Hosts Minority Depository Institutions Advisory Committee Meeting September 19 - The MDIAC advises the OCC on steps the OCC may take to ensure the continued health and viability of minority depository institutions and other issues of concern to these institutions. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-98.html

August 26, 2019 - St. Louis Fed Announces 2019-2020 Student Board of Directors.  www.stlouisfed.org/news-releases/2019/08/26/st-louis-fed-announces-2019-2020-student-board-of-directors 

August 26, 2019 - Final Rule to Amend 12 C.F.R. Part 370, "Recordkeeping for Timely Deposit Insurance Determination" - The FDIC Board has approved a final rule to amend 12 C.F.R. Part 370, "Recordkeeping for Timely Deposit Insurance Determination". The Rule would make certain substantive revisions to simplify the process for making insurance determinations in the event a bank is placed into receivership by better aligning the benefits and the burdens of the Rule, clarifying the Rule's requirements, and making technical corrections.  www.fdic.gov/news/news/financial/2019/fil19046.html

August 26, 2019 - FEDS Notes - Federal Funds Rate Control with Voluntary Reserve Targets - Garth Baughman and Francesca Carapella - Since the financial crisis, the large quantity of reserves created under quantitative easing, combined with the framework employed by the Federal Reserve to implement monetary policy, has reduced banks' incentives to borrow from one another in the market for federal funds, reducing margins in this market. www.federalreserve.gov/econres/notes/feds-notes/federal-funds-rate-control-with-voluntary-reserve-targets-20190826.htm

August 26, 2019 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at 11:00 a.m. on August 26, 2019. 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/20190826closed.htm

August 23, 2019 - NCUA Charters Maine Harvest Federal Credit Union - The National Credit Union Administration on August 14 granted a federal charter and Share Insurance Fund coverage to Maine Harvest, which will serve the employees and approximately 13,000 members of the Maine Organic Farmers and Gardeners Association and the Maine Farmland Trust. www.ncua.gov/newsroom/press-release/2019/ncua-charters-maine-harvest-federal-credit-union 

August 23, 2019 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update.  www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

August 23, 2019 - Speech by Chair Powell on challenges for monetary policy - Chair Jerome H. Powell At the "Challenges for Monetary Policy" symposium, sponsored by the Federal Reserve Bank of Kansas City, Jackson Hole, Wyoming www.federalreserve.gov/newsevents/speech/powell20190823a.htm

August 22, 2019 - OCC Hosts Risk Governance and Credit Risk Workshops in Chicago - The Office of the Comptroller of the Currency will host two workshops at the OCC Central District Office in Chicago, October 1 and 2, for directors of national community banks and federal savings associations supervised by the OCC. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-96.html

August 22, 2019 - 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 26, 2019. 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/20190826closed.htm

August 22, 2019 - Federal Reserve announces results of offering of seven-day term deposits on August 22.  www.federalreserve.gov/newsevents/pressreleases/monetary20190822a.htm
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August 21, 2019 - Comptroller of the Currency Visits New York Neighborhoods Supported by the Community Reinvestment Act, Discusses Opportunities to Do More - Comptroller of the Currency Joseph Otting today participated in a tour of New York neighborhoods to see firsthand the success of Community Reinvestment Act activity and discuss how CRA regulations can promote more lending, investment, and services, where they are needed most. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-95.html

August 21, 2019 - Credit Migration and Covered Interest Rate Parity - Gordon Y. Liao - This paper examines the connection between deviations in covered interest rate parity and differences in the credit spread of bonds of similar risk but different currency denomination. www.federalreserve.gov/econres/ifdp/files/ifdp1255.pdf

August 21, 2019 - Statistical Release - Finance Companies - G.20.  www.federalreserve.gov/releases/g20/current/g20.htm

August 21, 2019 - Statistical Release - Charge-Off and Delinquency Rates on Loans and Leases at Commercial Banks.  www.federalreserve.gov/releases/chargeoff/

August 21, 2019 - Minutes of the Federal Open Market Committee, July 30-31, 2019.  www.federalreserve.gov/monetarypolicy/fomccalendars.htm 

August 20, 2019 - NCUA Chairman Hood Statement on the Appeals Court Decision Regarding Field-of-Membership Rule - �The NCUA is pleased with today�s Court of Appeals decision. The agency is still reviewing that decision. In the near future, we will provide guidance for affected credit unions.� www.ncua.gov/newsroom/press-release/2019/ncua-chairman-hood-statement-appeals-court-decision-regarding-field-membership-rule

August 20, 2019 - NCUA Chairman: Defense Credit Unions �Positioned to Lead the Way� on Financial Inclusion - Defense credit unions are well-positioned to lead the way on improving access to affordable financial services in underserved communities, National Credit Union Administration Board Chairman Rodney E. Hood said today. www.ncua.gov/newsroom/press-release/2019/ncua-chairman-defense-credit-unions-positioned-lead-way-financial-inclusion

August 20, 2019 - NCUA Chairman Rodney E. Hood Remarks - Defense Credit Union Council Annual Conference, Chicago, IL.  www.ncua.gov/newsroom/speech/2019/ncua-chairman-rodney-e-hood-remarks-defense-credit-union-council-annual-conference-chicago-il

August 20, 2019 - Comptroller of the Currency Approves Volcker Rule Reforms - Comptroller of the Currency Joseph Otting today signed a final rule amending the �Volcker Rule� to tailor and simplify the rule while maintaining protections core to the safety and soundness of the federal banking system. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-94.html

August 20, 2019 - FDIC Issues Proposed Rule on Certain Assessment Credits - The Federal Deposit Insurance Corporation today approved a notice of proposed rulemaking that would amend the deposit insurance assessment regulations that govern the use of small bank assessment credits and one-time assessment credits. www.fdic.gov/news/news/press/2019/pr19074.html

August 20, 2019 - FDIC Approves Interagency Final Rule to Simplify and Tailor the "Volcker Rule" - The Volcker Rule generally prohibits banking entities from engaging in proprietary trading and from owning or controlling hedge funds or private equity funds. www.fdic.gov/news/news/press/2019/pr19073.html

August 20, 2019 - FDIC Issues Proposed Rule on Interest Rate Restrictions Applicable to Less Than Well Capitalized Institutions - Under the proposed rule, the FDIC would amend the methodology for calculating the national rate and national rate cap for specific deposit products to provide a more balanced, reflective, and dynamic national rate cap. www.fdic.gov/news/news/press/2019/pr19072.html

August 20, 2019 - Federal Reserve Board issues enforcement actions with First Ipswich Bank, Brookline Bank, and former employee of Farmers & Merchants Bank.   www.federalreserve.gov/newsevents/pressreleases/enforcement20190820a.htm

August 19, 2019 - The Macroeconomic Effects of the 2018 Bipartisan Budget Act - By Jeffrey R. Campbell , Filippo Ferroni , Jonas D. M. Fisher , Leonardo Melosi - In the first quarter of 2018, the Bipartisan Budget Act became law. The bill raised the spending caps imposed by the Budget Control Act of 2011 by $300 billion for fiscal years 2018 and 2019, in anticipation of a fiscal stimulus that would begin in the second quarter of 2018. www.chicagofed.org/publications/economic-perspectives/2019/2

August 19, 2019 - Reforming Social Security to Save Social Security By Abdoulaye Ndiaye , Lisa Camner McKay - Changing the income tax system and increasing the benefit to delaying retirement may preserve the social insurance guarantee to retirees. www.chicagofed.org/publications/chicago-fed-letter/2019/419

August 19, 2019 - NCUA Releases Interim Guidance on Serving Hemp Businesses - Federally insured credit unions may provide certain financial services to legally operating hemp businesses under new guidance published today by the National Credit Union Administration. www.ncua.gov/newsroom/press-release/2019/ncua-releases-interim-guidance-serving-hemp-businesses

August 19, 2019 - Comptroller of the Currency Visits Areas of Washington, D.C., to Discuss Community Reinvestment Success and Opportunities - Comptroller of the Currency Joseph Otting, led a tour of Washington, D.C., areas that have benefitted from Community Reinvestment Act activity and discussed how CRA regulations can be strengthened to promote more lending, investment, and services, where they are needed most. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-93.html

August 19, 2019 - New Fed paper explores the impacts of cashless businesses - A new Federal Reserve Cash Product Office paper, �Cash Me If You Can: The Impacts of Cashless Businesses on Retailers, Consumers, and Cash Use� reviews why some businesses consider going cashless, and how these decisions impact financial inclusion and consumer choice. www.frbsf.org/our-district/press/news-releases/2019/new-fed-paper-explores-the-impacts-of-cashless-businesses/

August 19, 2019 - Legal Developments - Orders Issued under the Bank Merger Act, FDI Act, Federal Reserve Act, Home Owners' Loan Act, and International Banking Act, 2019 - Section 19 letters, May 20, 2019 (1 letter), June 6 (2 letters), 10 (2 letters), and 20 (1 letter) 2019. www.federalreserve.gov/supervisionreg/ordersother2019.htm

August 16, 2019 - What is Driving the Return Spread Between �Safe� and �Risky� Assets? By Emmanuel Farhi , Fran�ois Gourio - Real interest rates on U.S. government bonds have declined persistently since the 1980s. U.S. government bonds are backed by the full faith and credit of the federal government and, hence, are considered one of the safest assets because the risk of default is extremely low. www.chicagofed.org/publications/chicago-fed-letter/2019/416

August 16, 2019 - Has Business Fixed Investment Really Been Unusually Low? - By Fran�ois Gourio - Business fixed investment represents the spending by businesses to increase production capacity. It is traditionally decomposed into equipment, structures, and intellectual property. www.chicagofed.org/publications/chicago-fed-letter/2019/418

August 16, 2019 - The Impact of Car Pollution on Infant and Child Health: Evidence from Emissions Cheating (REVISED August 2019) By Diane Alexander, Hannes Schwandt.  www.chicagofed.org/publications/working-papers/2019/2019-04

August 16, 2019 - Credit Migration and Covered Interest Rate Parity - Gordon Y. Liao - This paper examines the connection between deviations in covered interest rate parity and differences in the credit spread of bonds of similar risk but different currency denomination. www.federalreserve.gov/econres/ifdp/2019.htm#20191255

August 16, 2019 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update.  www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

August 16, 2019 - Credit and Liquidity Programs and the Balance Sheet - Quarterly Report on Federal Reserve Balance Sheet Developments, August 2019.  www.federalreserve.gov/monetarypolicy/quarterly-balance-sheet-developments-report.htm

August 16, 2019 - Fed Financial Statements - Federal Reserve Banks Combined Quarterly Financial Reports (Unaudited), Q2 2019 - The quarterly financial reports present summary financial information on the combined financial position and results of operations of the Reserve Banks. www.federalreserve.gov/aboutthefed/combined-quarterly-financial-reports-unaudited.htm

August 15, 2019 - AgLetter - A quarterly newsletter on agricultural land values and credit conditions, based on data from the Bank's survey. - According to the most recent AgLetter, Seventh District farmland values in the second quarter of 2019 were 1 percent lower than a year ago. Values for �good� agricultural land in the second quarter of 2019 were largely the same as in the first quarter. www.chicagofed.org/publications/agletter/index

August 15, 2019 - Payment Systems - Fedwire Securities Services, quarterly data. www.federalreserve.gov/paymentsystems/fedsecs_data.htm 

August 15, 2019 - Payment Systems - Fedwire Funds Services, quarterly data. www.federalreserve.gov/paymentsystems/fedfunds_data.htm

August 15, 2019 - Payment Systems -National Settlement Service, quarterly data. www.federalreserve.gov/paymentsystems/natl_data.htm
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August 15, 2019 - 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/2019/nr-occ-2019-92.html

August 15, 2019 - 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/2019/nr-occ-2019-91.html

August 15, 2019 - Statistical Release - Industrial Production and Capacity Utilization - G.17.  www.federalreserve.gov/releases/g17/default.htm

August 15, 2019 - Federal Reserve to offer seven-day term deposits on August 22 - 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/monetary20190815a.htm

August 14, 2019 - What is Driving the Return Spread Between Safe and Risky Assets? By Emmanuel Farhi , Fran�ois Gourio - Real interest rates on U.S. government bonds have declined persistently since the 1980s.  www.chicagofed.org/publications/chicago-fed-letter/2019/416

August 14, 2019 - NCUA�s Hood: Federal-State Chartering and Supervision System Working Well - NCUA and NASCUS Chairmen Sign New Document of Cooperation - The National Credit Union Administration and state regulators are working well together to modernize the dual chartering and supervision system and reduce regulatory burdens for credit unions, NCUA Chairman Rodney E. Hood said today. www.ncua.gov/newsroom/press-release/2019/ncuas-hood-federal-state-chartering-and-supervision-system-working-well

August 14, 2019 - NCUA Chairman Rodney E. Hood Remarks before the NASCUS State System Summit.  www.ncua.gov/newsroom/speech/2019/ncua-chairman-rodney-e-hood-remarks-nascus-state-system-summit

August 14, 2019 - Comptroller of the Currency Visits Baltimore Affordable Housing Event - Comptroller of the Currency Joseph Otting and senior staff visited an event promoting affordable and sustainable homeownership in Baltimore on Monday. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-90.html

August 14, 2019 - Andy Cates Joins St. Louis Fed�s Real Estate Industry Council - Andy Cates has been named to the Real Estate Industry Council of the Federal Reserve Bank of St. Louis. Cates is the CEO of Colliers International-Memphis. www.stlouisfed.org/news-releases/2019/08/14/andy-cates-joins-st-louis-fed-real-estate-industry-council

August 14, 2019 - International Trade in Services: Stylized Facts about Exporters in the Service Sector - Maria D. Tito - Service trade accounts for about 30 percent of U.S. exports and has grown about 5 percent per year over the past decade. www.federalreserve.gov/econres/notes/feds-notes/international-trade-in-services-stylized-facts-about-exporters-in-the-service-sector-20190814.htm

August 13, 2019 - U.S. and Oklahoma Economic Update Guymon Economic Forum.  www.kansascityfed.org/~/media/files/publicat/speeches/2019/2019-wilkerson-guymon-08-19.pdf

August 13, 2019 - U.S. and Kansas Economic Outlook By Chad Wilkerson Vice President and Oklahoma City Branch Executive.   www.kansascityfed.org/~/media/files/publicat/speeches/2019/2019-wilkerson-dodgecity-08-19.pdf

August 13, 2019 - U.S. and Oklahoma Economic Outlook By Chad Wilkerson Vice President and Oklahoma City Branch Executive.   https://www.kansascityfed.org/~/media/files/publicat/speeches/2019/2019-wilkerson-okc-08-19.pdf

August 13, 2019 - Statistical Release - Structure and Share Data for U.S. Banking Offices of Foreign Entities - There are two reports showing the same structure and asset information for each U.S. office, but in different orders. www.federalreserve.gov/releases/iba/default.htm 

August 12, 2019 - Payment Systems - Automated Clearinghouse Services, quarterly data updates.  www.federalreserve.gov/paymentsystems/fedach_data.htm

August 12, 2019 - OCC to Host Innovation Office Hours in Washington, D.C. - The Office of the Comptroller of the Currency today announced it will hold Innovation Office Hours, October 8-10, in Washington, D.C., to promote responsible innovation in the federal banking system. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-89.html

August 9, 2019 - NCUA Chairman: Credit Unions Can Lead During �a Time of Seismic Change� - Hood Speaks to AACUC on Inclusion, Innovation, and Modern Regulation.   www.ncua.gov/newsroom/press-release/2019/ncua-chairman-credit-unions-can-lead-during-time-seismic-change

August 9, 2019 - NCUA Chairman Rodney E. Hood Remarks - African-American Credit Union Coalition 21st Annual Conference.  www.ncua.gov/newsroom/speech/2019/ncua-chairman-rodney-e-hood-remarks-african-american-credit-union-coalition-21st-annual-conference

August 9, 2019 - Prohibition Against Interstate Deposit: Annual Host State Loan-to-Deposit Ratios - The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation issued on May 28, 2019, the host state loan-to-deposit ratios. www.occ.treas.gov/news-issuances/bulletins/2019/bulletin-2019-41.html

August 9, 2019 - Comptroller of the Currency Tours Atlanta Areas Where the Community Reinvestment Act Has Benefitted the Community and Where More Can Be Done - Comptroller of the Currency Joseph Otting, today visited Atlanta to tour neighborhoods that have benefitted from activities encouraged by the Community Reinvestment Act and areas that could benefit from additional CRA activity. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-88.html

August 9, 2019 - Liquidity Transformation Risks in U.S. Bank Loan and High-Yield Mutual Funds - Kenechukwu Anadu and Fang Cai - Net assets in open-end mutual funds have increased notably over the past decades. www.federalreserve.gov/econres/notes/feds-notes/liquidity-transformation-risks-in-US-bank-loan-and-high-yield-mutual-funds-20190809.htm

August 9, 2019 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update.  www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

August 9, 2019 - Monetary Policy and Bank Equity Values in a Time of Low and Negative Interest Rates - Miguel Ampudia and Skander J. Van den Heuvel - Does banks' exposure to interest rate risk change when interest rates are very low or even negative?  www.federalreserve.gov/econres/feds/files/2019064pap.pdf

August 9, 2019 - Exporters of Services: A Look at U.S. Exporters outside of the Manufacturing Sector - Maria D. Tito - Using transaction data for the U.S., this paper presents a series of stylized facts on exporters in services industries. We find that most of the basic facts on manufacturing exporters extend to the services sectors with three important differences. www.federalreserve.gov/econres/feds/files/2019063pap.pdf

August 9, 2019 - Parental Proximity and Earnings After Job Displacements - Patrick Coate, Pawel Krolikowski, and Mike Zabek - The earnings of young adults who live in the same neighborhoods as their parents completely recover after a job displacement, unlike the earnings of young adults who live farther away, which permanently decline. www.federalreserve.gov/econres/feds/files/2019062pap.pdf

August 8, 2019 - NCUA Launches New Digital Tool to Help with the Chartering Process - The National Credit Union Administration is encouraging groups seeking to organize credit unions to take advantage of the agency�s new digital tool to help them with the charter application process. www.ncua.gov/newsroom/press-release/2019/ncua-launches-new-digital-tool-help-chartering-process

August 8, 2019 - OCC Releases CRA Evaluations for 42 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, 2019 through July 31, 2019. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-87.html
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August 8, 2019 - OCC Hosts Nashville Workshop for Board Directors and Bank Management - The Office of the Comptroller of the Currency will host a workshop in Nashville, Tenn., at the Spring Hill Suites Nashville Downtown, September 24-25, 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/2019/nr-occ-2019-86.html

August 8, 2019 - Federal Reserve to Hold Forum for Minority Bankers - The 2019 Banking and the Economy: A Forum for Minorities in Banking will be held Sept. 26-27 at the Federal Reserve Bank of St. Louis.  www.stlouisfed.org/news-releases/2019/08/08/federal-reserve-to-hold-forum-for-minority-bankers

August 8, 2019 - CECL and the Credit Cycle - Bert Loudis and Ben Ranish - We find that that the Current Expected Credit Loss standard would slightly dampen fluctuations in bank lending over the economic cycle. In particular, if the CECL standard had always been in place, we estimate that lending would have grown more slowly leading up to the financial crisis and more rapidly afterwards. www.federalreserve.gov/econres/feds/files/2019061pap.pdf

August 7, 2019 - OCC Hosts Compliance and Operational Risk Workshops in Virginia - The Office of the Comptroller of the Currency will host two workshops in Williamsburg, Va., at the DoubleTree Hotel Williamsburg, September 24 and 25, for directors of national community banks and federal savings associations supervised by the OCC. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-85.html

August 7, 2019 - Statistical Release - Consumer Credit - G.19 - 5-1/4 percent, while nonrevolving credit increased at an annual rate of 4-3/4 percent. In June, consumer credit increased at an annual rate of 4-1/4 percent. www.federalreserve.gov/releases/g19/current/default.htm

August 6, 2019 - St. Louis Fed's Bullard Discusses a Sea Change in U.S. Monetary Policy - Federal Reserve Bank of St. Louis President James Bullard discussed �A Sea Change in U.S. Monetary Policy� on Tuesday at the National Economists Club�s Summer Signature Luncheon. www.stlouisfed.org/news-releases/2019/08/06/bullard-sea-change-monetary-policy

August 6, 2019 - FEDS Notes- U.S. Corporations' Repatriation of Offshore Profits: Evidence from 2018 - Michael Smolyansky, Gustavo Suarez, Alexandra Tabova - We investigate how companies with large holdings of cash abroad have used those funds following the Tax Cuts and Jobs Act, which eliminated prior tax disincentives on the repatriation of foreign earnings. www.federalreserve.gov/econres/notes/feds-notes/us-corporations-repatriation-of-offshore-profits-20190806.htm

August 6, 2019 - Exchange Rate Dynamics and Monetary Spillovers with Imperfect Financial Markets - Ozge Akinci and Albert Queralto - We use a two-country New Keynesian model with financial frictions and dollar debt in balance sheets to investigate the foreign effects of U.S. monetary policy.   www.federalreserve.gov/econres/ifdp/files/ifdp1254.pdf

August 6, 2019 - Supervision Manuals Commercial Bank Examination Manual, May 2019 update - The Commercial Bank Examination Manual presents examination objectives and procedures that Federal Reserve System examiners follow in evaluating the safety and soundness of state member banks. Intended as guidance for planning and conducting bank examinations. www.federalreserve.gov/publications/supervision_cbem.htm

August 5, 2019 - Federal Reserve to Hold Forum for Minority Bankers - The 2019 Banking and the Economy: A Forum for Minorities in Banking will be held Sept. 26-27 at the Federal Reserve Bank of St. Louis. The forum, in its fourth year, is designed to provide senior-level or high-potential middle management minority bank leaders with industry, leadership and professional development knowledge to enhance their careers and networks. www.stlouisfed.org/news-releases/2019/08/05/federal-reserve-to-hold-forum-for-minority-bankers

August 5, 2019 - 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/2019/pr19071.html

August 5, 2019 - FEDS Notes - The Mysterious Cross-Country Dispersion in Mobile Phone Price Trends - The construction of prices for information and communications technology is a longstanding priority of the economic measurement community. www.federalreserve.gov/econres/notes/feds-notes/mysterious-cross-country-dispersion-in-mobile-phone-price-trends-20190805.htm

August 5, 2019 - Surveys and Reports - Senior Loan Officer Opinion Survey on Bank Lending Practices, July 2019 - The July 2019 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 corresponds to the second quarter of 2019. www.federalreserve.gov/data/sloos/sloos-201907.htm

August 5, 2019 - Speech by Governor Brainard on delivering fast payments for all Governor Lael Brainard At the Federal Reserve Bank of Kansas City Town Hall, Kansas City, Missouri www.federalreserve.gov/newsevents/speech/brainard20190805a.htm

August 5, 2019 - Federal Reserve announces plan to develop a new round-the-clock real-time payment and settlement service to support faster payments - The Federal Reserve Board on Monday announced that the Federal Reserve Banks will develop a new round-the-clock real-time payment and settlement service, called the FedNow?  www.federalreserve.gov/newsevents/pressreleases/other20190805a.htm 

August 2, 2019 - Statement from Esther George - The following is a statement by Federal Reserve Bank of Kansas City President Esther George explaining her dissenting vote at the FOMC�s July 30-31, 2019, meeting: www.kansascityfed.org/en/newsroom/newsreleases/2019/esthergeorgestatement

August 2, 2019 - Membership and Leadership Appointments Announced for the Federal Reserve Bank of San Francisco�s Community Advisory Council www.frbsf.org/our-district/press/news-releases/2019/membership-and-leadership-appointments-community-advisory-council/

August 2, 2019 - Measuring Aggregate Housing Wealth: New Insights from an Automated Valuation Model - Joshua H. Gallin, Raven Molloy, Eric Nielsen, Paul Smith, and Kamila Sommer - We construct a new measure of aggregate housing wealth for the U.S. based on (1) home-value estimates derived from machine learning algorithms applied to detailed information on property characteristics and recent transaction prices, and (2) Census housing unit counts. www.federalreserve.gov/econres/feds/files/2018064r1pap.pdf

August 2, 2019 - FOIA - Chair Powell's calendar, June 2019.  www.federalreserve.gov/foia/chairman-powell-calendar-062019.htm

August 2, 2019 - A Simple Model of Voluntary Reserve Targets with Tolerance Bands - Garth Baughman and Francesca Carapella - This note presents a simplifed version of the model of voluntary reserve targets developed in Baughman and Carapella, with a Walrasian interbank market. www.federalreserve.gov/econres/feds/files/2019060pap.pdf

August 2, 2019 - Variance Disparity and Market Frictions - Yang-Ho Park - This paper introduces a new model-free approach to measuring the expectation of market variance using VIX derivatives. www.federalreserve.gov/econres/feds/files/2019059pap.pdf

August 2, 2019 - Transparency and collateral: the design of CCPs' loss allocation rules - Gaetano Antinolfi, Francesca Carapella, and Francesco Carli - This paper adopts a mechanism design approach to study optimal clearing arrangements for bilateral financial contracts in which an assessment of counterparty risk is crucial for efficiency. www.federalreserve.gov/econres/feds/files/2019058pap.pdf

August 2, 2019 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

August 2, 2019 - From Transactions Data to Economic Statistics: Constructing Real-time, High-frequency, Geographic Measures of Consumer Spending - Aditya Aladangady, Shifrah Aron-Dine, Wendy Dunn, Laura Feiveson, Paul Lengermann, and Claudia Sahm - Access to timely information on consumer spending is important to economic policymakers.  www.federalreserve.gov/econres/feds/files/2019057pap.pdf

August 2, 2019 - Regulating Financial Networks Under Uncertainty - Carlos Ram�rez - - I study the problem of regulating a network of interdependent financial institutions that is prone to contagion when there is uncertainty regarding its precise structure. I show that such uncertainty reduces the scope for welfare-improving interventions. www.federalreserve.gov/econres/feds/files/2019056pap.pdf

August 2, 2019 - The Money View Versus the Credit View - Sarah S. Baker, David L�pez-Salido, and Edward Nelson - We evaluate the relative merits of the "money view" and "credit view" as accounts of macroeconomic outcomes.  www.federalreserve.gov/econres/feds/files/2018042r1pap.pdf
 
August 2, 2019 - Lifecycle Patterns of Saving and Wealth Accumulation - Laura J. Feiveson and John Sabelhaus - Empirical analysis of U.S. income, saving and wealth dynamics is constrained by a lack of high-quality and comprehensive household-level panel data.  www.federalreserve.gov/econres/feds/files/2019010r1pap.pdf

August 2, 2019 - Comparing Two Measures of Core Inflation: PCE Excluding Food & Energy vs. the Trimmed Mean PCE Index - Matteo Luciani and Riccardo Trezzi -The inflation objective of the FOMC is set in terms of the rate of change of the price index for total personal consumption expenditures. www.federalreserve.gov/econres/notes/feds-notes/comparing-two-measures-of-core-inflation-20190802.htm

August 1, 2019 - Statistical Release - Foreign Exchange Rates - G.5 - The table below shows the average rates of exchange in JULY 2019 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/default.htm

August 1, 2019 - Federal Reserve Board approves actions by the Boards of Directors of the Federal Reserve Banks of Boston, New York, Cleveland, Richmond, Atlanta, Minneapolis, and Kansas City www.federalreserve.gov/newsevents/pressreleases/monetary20190801a.htm

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