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December 31, 2018 - Midwest Economy Index Points to Slower Growth in November - The Midwest Economy Index moved down to +0.09 in November from +0.20 in October. Contributions to the November MEI from three of the four broad sectors of nonfarm business activity and three of the five Seventh Federal Reserve District states decreased from October. The relative MEI edged down to –0.24 in November from –0.22 in October. www.chicagofed.org/~/media/publications/mei/2018/mei-november2018-pdf.pdf December 31, 2018 - NCUA Issues Prohibition Notices - The National Credit Union Administration issued one prohibition order and one prohibition notice in December. These individuals are prohibited from participating in the affairs of any federally insured financial institution. www.ncua.gov/newsroom/press-release/2018/ncua-issues-prohibition-notices-1 December 31, 2018 - Manual - Financial Accounting Manual for Federal Reserve Banks - The Financial Accounting Manual for Federal Reserve Banks contains the accounting standards that should be followed by the Federal Reserve Banks. www.federalreserve.gov/aboutthefed/files/BSTfinaccountingmanual.pdf December 31, 2018 - Regulatory Reform - Discount Window Lending, 2016:Q4 - The discount window helps to relieve liquidity strains for individual depository institutions and for the banking system as a whole by providing a reliable backup source of funding. www.federalreserve.gov/regreform/discount-window.htm December 28, 2018 - Comptroller’s Handbook: Updated Booklets and Rescissions - The Office of the Comptroller of the Currency today issued updates to the “Bank Premises and Equipment,” “Consigned Items and Other Customer Services,” and “Litigation and Other Legal Matters” booklets of the Comptroller’s Handbook. www.occ.treas.gov/news-issuances/bulletins/2018/bulletin-2018-49.html December 28, 2018 - FDIC Makes Public November Enforcement Actions - The Federal Deposit Insurance Corporation today released a list of orders of administrative enforcement actions taken against banks and individuals in November. There are no administrative hearings scheduled for January 2019. www.fdic.gov/news/news/press/2018/pr18105.html December 28, 2018 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm December 27, 2018 - Recovery Planning Guidelines: Final Revised Guidelines - The Office of the Comptroller of the Currency is amending its enforceable guidelines relating to recovery planning standards for insured national banks, insured federal savings associations, and insured federal branches in order to limit the application of the guidelines to the largest, most complex banks and thereby provide regulatory burden relief to smaller, less complex institutions. www.occ.treas.gov/news-issuances/bulletins/2018/bulletin-2018-47.html December 27, 2018 - Student Lending: Statement on Programs for Rehabilitation of Private Education Loans - On May 24, 2018, the President signed the Economic Growth, Regulatory Relief, and Consumer Protection Act. Section 602 of the EGRRCPA amends the Fair Credit Reporting Act to give borrowers the opportunity to rehabilitate private education loans under certain conditions. www.occ.treas.gov/news-issuances/bulletins/2018/bulletin-2018-48.html ___________________________ December 28, 2018 - FDIC Makes Public November Enforcement Actions - The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in November. https://www.fdic.gov/news/news/press/2018/pr18105.html December 27, 2018 - Currency and Bank Budgets - 2019 Currency Budget. www.federalreserve.gov/foia/budgets.htm December 26, 2018 - Jonathan Gould Named OCC Chief Counsel - The Office of the Comptroller of the Currency today announced Jonathan Gould as Senior Deputy Comptroller and Chief Counsel. www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-145.html December 24, 2018 - Chicago Fed National Activity Index - Index points to an increase in economic growth in November - Led by improvements in production-related indicators, the Chicago Fed National Activity Index increased to +0.22 in November from a neutral reading in October. www.chicagofed.org/~/media/publications/cfnai/2018/cfnai-december2018-pdf.pdf December 21, 2018 - Description: Notice of Proposed Rulemaking - The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation are issuing a notice of proposed rulemaking that would establish a revised framework for determining requirements under the regulatory capital rule, the liquidity coverage ratio rule, and the proposed net stable funding ratio rule for large U.S. banking organizations based on their risk profile. https://occ.gov/news-issuances/bulletins/2018/bulletin-2018-46.html December 21, 2018 - OCC Enforcement Actions and Terminations for December 2018 - 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/2018/nr-occ-2018-141.html December 21, 2018 - President Trump Names Joseph M. Otting Acting Director of the Federal Housing Finance Agency - Comptroller of the Currency Joseph M. Otting today issued the following statement after President Donald J. Trump designated him to become Acting Director of the Federal Housing Finance Agency upon completion of current Director Mel Watt’s term on January 6. www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-140.html December 21, 2018 - Federal Reserve Bank of Kansas City announces Third Quarter Small Business Lending Survey results - The quarterly survey of U.S. banks provides data on lending activity and terms for small businesses, a critical source of employment and economic growth for the country. www.kansascityfed.org/~/media/files/publicat/newsroom/2018/q318smallbusinessfinal.pdf December 21, 2018 - Examination Cycle - Final Rules on Expanded Examination Cycle for Certain Small Insured Depository Institutions and U.S. Branches and Agencies of Foreign Banks - The FDIC and the other federal financial institution regulatory agencies have adopted as final without change the interim final rules issued on August 29, 2018 that permitted insured depository institutions with less than $3 billion in total assets, and that meet certain other criteria, to qualify for an 18-month on-site examination cycle. www.fdic.gov/news/news/financial/2018/fil18089.html December 21, 2018 - The Ins and Outs of Collateral Re-use - Sebastian Infante, Charles Press, and Jacob Strauss (University of Minnesota) - In this article, we empirically document how primary dealers use and re-use collateral in the United States. www.federalreserve.gov/econres/notes/feds-notes/ins-and-outs-of-collateral-re-use-20181221.htm December 21, 2018 - Short Takes on Monetary Policy Strategy: An Introduction to Some Basic Concepts - James A. Clouse - Over recent decades, central banks have made enormous strides in enhancing transparency around many elements of the formulation and conduct of monetary policy. www.federalreserve.gov/econres/feds/files/2018089pap.pdf December 21, 2018 - Can the US interbank market be revived? - James A. Clouse - Over recent decades, central banks have made enormous strides in enhancing transparency around many elements of the formulation and conduct of monetary policy. www.federalreserve.gov/econres/feds/files/2018089pap.pdf December 21, 2018 - The Impact of Post Stress Tests Capital on Bank Lending - William F. Bassett and Jose M. Berrospide - We investigate one channel through which the annual bank stress tests, as part of the Federal Reserve's Comprehensive Capital Analysis and Review review, could unexpectedly affect the provision of bank credit. www.federalreserve.gov/econres/feds/files/2018087pap.pdf December 21, 2018 - The Macroeconomic Effects of Trade Policy - Christopher Erceg, Andrea Prestipino, and Andrea Raffo - We study the short-run macroeconomic effects of trade policies that are equivalent in a friction-less economy, namely a uniform increase in import tariffs and export subsidies, an increase in value-added taxes accompanied by a payroll tax reduction, and a border adjustment of corporate profit taxes. www.federalreserve.gov/econres/ifdp/files/ifdp1242.pdf December 21, 2018 - Statistical Release - Enhanced Financial Accounts, December 2018 update. - These projects provide additional detail for selected areas of the Financial Accounts. See About EFA below for more information. www.federalreserve.gov/releases/efa/enhanced-financial-accounts.htm December 21, 2018 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm December 21, 2018 - The Optimal Inflation Rate with Discount Factor Heterogeneity - Antoine Lepetit - This paper shows that deviations from long-run price stability are optimal in the presence of price stickiness whenever profit and utility flows are discounted at a different rate. www.federalreserve.gov/econres/feds/files/2018086pap.pdf December 21, 2018 - How the Largest Bank Holding Companies Grew: Organic Growth or Acquisitions? - Robert Adams and John Driscoll - The U.S. banking industry has experienced substantial growth over the past few decades, especially at the very largest institutions. www.federalreserve.gov/econres/notes/feds-notes/how-the-largest-bank-holding-companies-grew-organic-growth-or-acquisitions-20181221.htm December 21, 2018 - Factors in Unemployment Dynamics - Hie Joo Ahn and James Hamilton (University of California, San Diego) - The U.S. unemployment rate averaged 8.4% during the first five years of recovery from the Great Recession of 2007-2009, the weakest recovery on record. www.federalreserve.gov/econres/notes/feds-notes/factors-in-unemployment-dynamics-20181221.htm December 21, 2018 - Education Debt Owed by Older Families in the 2016 Survey of Consumer Finances - Jesse Bricker, Alice Volz, and Elizabeth Llanes - The amount of education debt held by U.S. families has increased dramatically over the past fifteen years. www.federalreserve.gov/econres/notes/feds-notes/education-debt-owed-by-older-families-in-the-2016-survey-of-consumer-finances-20181221.htm December 21, 2018 - Legal Interpretations - Bank Holding Company Act, 2018 - August 24, September 26, October 17 (2), November 16 (2), December 7, December 14. www.federalreserve.gov/supervisionreg/legalinterpretations/bhc_changeincontrol2018.htm December 21, 2018 - Agencies issue final rules expanding examination cycles for qualifying small banks and U.S. branches and agencies of foreign banks - The federal banking agencies today issued final rules that adopt without change the interim final rules issued in August that expanded the number of insured depository institutions and U.S. branches and agencies of foreign banks eligible for an 18-month on-site examination cycle, rather than a 12-month cycle. Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20181221c.htm Press Release: www.fdic.gov/news/news/press/2018/pr18103.html Press Release: www.occ.gov/news-issuances/news-releases/2018/nr-ia-2018-143.html December 21, 2018 - Federal Reserve Board will maintain current modeling framework for loan allowances in its supervisory stress test through 2021 - In June 2016, the Financial Accounting Standards Board issued a new accounting standard for credit losses known as the Current Expected Credit Losses methodology. www.federalreserve.gov/newsevents/pressreleases/bcreg20181221b.htm December 21, 2018 - Agencies allow three-year regulatory capital phase-in for new Current Expected Credit Losses accounting standard - The final rule also revises the agencies' other rules to reflect the update to the accounting standards. Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20181221a.htm Press Release: www.fdic.gov/news/news/press/2018/pr18102.html Press Release: www.occ.gov/news-issuances/news-releases/2018/nr-ia-2018-142.html December 20, 2018 - Federal Reserve Payments Study Supplement shows accelerated electronic payments growth - Growth in card payments has accelerated, according to new electronic payments data collected by the Federal Reserve. Card payments increased 10.1 percent by number and 8.4 percent by value from 2016 to 2017, each larger than the increases of 7.8 percent by number and 6.3 percent by value from 2015 to 2016. www.federalreserve.gov/newsevents/pressreleases/other20181220a.htm December 20, 2018 - Agencies propose update to management interlock rules - The federal banking agencies on Thursday invited public comment on a proposal to update rules restricting the ability of a director or other management official to serve at more than one depository institution or depository holding company. Press Release: https://www.federalreserve.gov/newsevents/pressreleases/bcreg20181220b.htm Press Release: www.fdic.gov/news/news/press/2018/pr18099.html December 20, 2018 - Federal Reserve Board approves actions by the Boards of Directors of the Federal Reserve Banks of New York, Philadelphia, St. Louis, Minneapolis, and Dallas. www.federalreserve.gov/newsevents/pressreleases/monetary20181220a.htm December 20, 2018 - Federal Reserve and FDIC announce resolution plan determinations for four foreign-based banks and finalize guidance for eight domestic banks - The Federal Reserve Board and the Federal Deposit Insurance Corporation on Thursday announced that the resolution plans of four foreign-based banks had weaknesses, but did not have "deficiencies," which are weaknesses severe enough to result in additional prudential requirements if not corrected. Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20181220c.htm Press Release: www.fdic.gov/news/news/press/2018/pr18101.html December 20, 2018 - Agencies release annual CRA asset-size threshold adjustments for small and intermediate small institutions - The federal bank regulatory agencies today announced the annual adjustment to the asset-size thresholds used to define small bank, small savings association, intermediate small bank, and intermediate small savings association under the Community Reinvestment Act regulations. Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20181220a.htm Press Release: www.fdic.gov/news/news/press/2018/pr18100.html Press Release: www.occ.gov/news-issuances/news-releases/2018/nr-ia-2018-139.html ________________________ December 20, 2018 - Agencies Propose to Update Management Interlock Rules - The federal banking agencies on Thursday invited public comment on a proposal to update rules restricting the ability of a director or other management official to serve at more than one depository institution or depository holding company. www.occ.gov/news-issuances/news-releases/2018/nr-ia-2018-138.html December 20, 2018 - Federal Reserve Payments Study Supplement shows accelerated electronic payments growth - Growth in card payments has accelerated, according to new electronic payments data collected by the Federal Reserve. Card payments increased 10.1 percent by number and 8.4 percent by value from 2016 to 2017, each larger than the increases of 7.8 percent by number and 6.3 percent by value from 2015 to 2016. www.federalreserve.gov/newsevents/pressreleases/other20181220a.htm December 20, 2018 - Federal Reserve Board issues enforcement action with former employee of First Community Bank. www.federalreserve.gov/newsevents/pressreleases/enforcement20181220a.htm December 19, 2018 - FDIC Issues Final Rule on Reciprocal Deposits and Seeks Comments on Brokered Deposits and Interest Rate Restrictions - The FDIC adopted a final rule related to the treatment of reciprocal deposits, and it also issued an advance notice of proposed rulemaking related to brokered deposits and the interest rate restrictions. www.fdic.gov/news/news/press/2018/pr18098.html December 19, 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 December 18, 2018 and continued at 9:00 a.m. on December 19, 2018. Matter(s) considered: Discussion of Monetary Policy Issues. www.federalreserve.gov/aboutthefed/boardmeetings/20181218closed.htm December 19, 2018 - Federal Reserve Board approves action by the Board of Directors of the Federal Reserve Bank of Kansas City. www.federalreserve.gov/newsevents/pressreleases/monetary20181219c.htm December 19, 2018 - Federal Reserve Board and Federal Open Market Committee release economic projections from the December 18-19 FOMC meeting - The attached table and charts released on Wednesday summarize the economic projections and the target federal funds rate projections made by Federal Open Market Committee participants for the December 18-19 eeting. www.federalreserve.gov/newsevents/pressreleases/monetary20181219b.htm December 19, 2018 - Federal Reserve issues FOMC statement - Information received since the Federal Open Market Committee met in November indicates that the labor market has continued to strengthen and that economic activity has been rising at a strong rate. www.federalreserve.gov/newsevents/pressreleases/monetary20181219a.htm December 18, 2018 - OCC Issues Notice of Proposed Rulemaking Amending Stress Testing Rules for National Banks and Federal Savings Associations - The Office of the Comptroller of the Currency today issued a notice of proposed rulemaking to amend the OCC�s stress testing rule at 12 CFR 46 (which implements the stress testing requirements of section 165(i)(2) of the Dodd�Frank Wall Street Reform and Consumer Protection Act), consistent with requirements imposed by section 401 of the Economic Growth, Regulatory Relief, and Consumer Protection Act. www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-137.html December 18, 2018 - Volcker Rule: Proposed Revisions to Prohibitions and Restrictions on Proprietary Trading and Certain Interests in, and Relationships With, Hedge Funds and Private Equity Funds - The FDIC, the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, the U.S. Securities and Exchange Commission, and the U.S. Commodity Futures Trading Commission are issuing a Notice of Proposed Rulemaking and requesting comment on a proposal to amend regulations implementing Section 13 of the Bank Holding Company Act in a manner consistent with the statutory amendments made pursuant to Sections 203 and 204 of the Economic Growth, Regulatory Relief, and Consumer Protection Act. www.fdic.gov/news/news/financial/2018/fil18086.html December 18, 2018 - FDIC Issues Notice of Proposed Rulemaking: Company-Run Stress Testing Requirements for FDIC-supervised State Nonmember Banks and State Savings Associations - The Federal Deposit Insurance Corporation today issued a notice of proposed rulemaking that would revise the FDIC's requirements for stress testing by FDIC-supervised institutions, consistent with changes made by Economic Growth, Regulatory Relief, and Consumer Protection Act. www.fdic.gov/news/news/press/2018/pr18097.html December 18, 2018 - FDIC Board Approves 2019 Operating Budget - The Board of Directors of the Federal Deposit Insurance Corporation today approved a $2.04 billion operating budget for 2019, down 2.3 percent from 2018 and 49 percent lower than its peak at the height of the financial crisis in 2010. www.fdic.gov/news/news/press/2018/pr18096.html December 17, 2018 - Capital: Notice of Proposed Rulemaking - On December 17, 2018, the Office of the Comptroller of the Currency, Board of Governors of the Federal Reserve System, and Federal Deposit Insurance Corporation published a notice of proposed rulemaking to provide an updated framework for measuring derivative counterparty credit exposure. www.occ.treas.gov/news-issuances/bulletins/2018/bulletin-2018-45.html December 14, 2018 - NCUA - November 2018 NCUA Board Meeting Video Available - The video recording of the Nov. 15, 2018, open meeting of the National Credit Union Administration Board is now available on the agency�s website. Archived videos of past Board meetings may be viewed here, and each video remains on the site for one year. www.ncua.gov/newsroom/Pages/news-2018-dec-november-ncua-board-meeting-video-available.aspx December 14, 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 1:00 p.m. on December 18, 2018. Matter(s) considered: Discussion of Monetary Policy Issues. www.federalreserve.gov/aboutthefed/boardmeetings/20181218closed.htm December 14, 2018 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm December 14, 2018 - Statistical Release - Industrial Production and Capacity Utilization - G.17 - Industrial production rose 0.6 percent in November after moving down 0.2 percent in October; the index for October was previously reported to have edged up 0.1 percent. In November, manufacturing production was unchanged, the output of mining increased 1.7 percent, and the index for utilities gained 3.3 percent. www.federalreserve.gov/releases/g17/Current/default.htm December 13, 2018 - Statistical Release - Miinority-Owned Depository Institutions - Historically, the Federal Reserve Board compiled quarterly data on depository institutions that participate in the Treasury�s Minority Bank Deposit Program. www.federalreserve.gov/releases/mob/ December 13, 2018 - Federal Reserve Board approves the initiation of an action to prohibit president and CEO and executive vice president of Farmers State Bank from participating in the banking industry. www.federalreserve.gov/newsevents/pressreleases/enforcement20181213a.htm ________________________ December 13, 2018 - Banker Teleconference: Regulatory Capital Rule: Capital Simplification for Qualifying Community Banking Organizations - The Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the Board of Governors of the Federal Reserve System will host an interagency conference call for bankers on December 18, 2018, to discuss the optional community bank leverage ratio framework. www.fdic.gov/news/news/financial/2018/fil18085.html December 13, 2018 - Federal Reserve Board approves the initiation of an action to prohibit president and CEO and executive vice president of Farmers State Bank from participating in the banking industry. www.federalreserve.gov/newsevents/pressreleases.htm December 13, 2018 - NCUA - Board Lowers Share Insurance Fund Normal Operating Level to 1.38 Percent - The National Credit Union Administration Board held its eleventh open meeting of 2018 at the agency�s headquarters today and unanimously approved three items: www.ncua.gov/newsroom/Pages/news-2018-dec-board-lowers-share-insurance-fund-normal-operating-level.aspx December 12, 2018 - NCUA, State Regulators Launching Alternating Examination Pilot Program Jan. 1 - On Jan. 1, 2019, the National Credit Union Administration and six state credit union regulators will launch an alternating examination pilot program for a select group of federally insured, state-chartered credit unions. www.ncua.gov/newsroom/Pages/news-2018-dec-state-regulators-launching-alternating-examination-pilot-program.aspx December 12, 2018 - NCUA: Q3 2018 State Credit Union Data Report Now Available - Federally insured credit unions generally saw continued positive trends in the third quarter of 2018, according to the latest NCUA Quarterly U.S. Map Review. www.ncua.gov/analysis/Pages/industry/quarterly-map-review-third-quarter-2018.pdf December 12, 2018 - OCC Reports Third Quarter 2018 Bank Trading Revenue - The Office of the Comptroller of the Currency reported trading revenue of U.S. commercial banks and federal savings associations of $7.1 billion in the third quarter 2018, which was $0.2 billion, 2.7 percent, more than the previous quarter. www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-136.html December 12, 2018 - Banker Teleconference: Regulatory Capital Rule: Capital Simplification for Qualifying Community Banking Organizations - The Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the Board of Governors of the Federal Reserve System will host an interagency conference call for bankers on December 18, 2018, to discuss the optional community bank leverage ratio framework. www.fdic.gov/news/news/financial/2018/fil18085.html December 12, 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 December 12, 2018. Matter(s) considered: Supervisory Matter. www.federalreserve.gov/aboutthefed/boardmeetings/20181212closed.htm December 11, 2018 - Managing Risk in Global Financial Markets: CCP Governance, Supervisory Stress Testing, and Default Management Auctions By Nahiomy Alvarez - The second annual Symposium on OTC Derivatives was held in Shanghai on June 26, 2018. www.chicagofed.org/publications/chicago-fed-letter/2018/408 December 11, 2018 - In Memoriam: Robert Cox - Robert T. Cox passed away on December 7, 2018. He joined the Federal Reserve Bank of Chicago in August 2014 and served most recently as vice president in the financial markets group. www.chicagofed.org/people/c/cox-robert December 11, 2018 - OCC Reports Slight Improvement in Mortgage Performance - The Office of the Comptroller of the Currency reported a slight improvement in the performance of first-lien mortgages in the federal banking system during the third quarter of 2018. www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-135.html December 11, 2018 - Regulatory Reform- Communications with the public through December 11, 2018 - The Federal Reserve Board will be involved in many rulemakings to implement the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. During the rulemaking process, meetings will take place between the Board and the public--representatives of bank organizations, consumer groups, trade associations, researchers and academics--that allow the Board to gather information and help educate the public on matters subject to agency rulemaking. www.federalreserve.gov/regreform/communications-with-public.htm December 11, 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 December 11, 2018. Matter(s) considered: Update on Consumer and Community Matters. www.federalreserve.gov/aboutthefed/boardmeetings/20181211closed.htm December 7, 20189 - St. Louis Fed's Bullard Presents More on Modern Monetary Policy Rules - Federal Reserve Bank of St. Louis President James Bullard gave remarks titled �More on Modern Monetary Policy Rules� to the Indiana Bankers Association on Friday. He further elaborated on some key directions the Fed could take to update monetary policy rules. www.stlouisfed.org/news-releases/2018/12/07/bullard-more-on-modern-monetary-policy-rules December 7, 2018 - FEDS Notes - Overview of the changes to the FRB/US model (2018) - The FRB/US model was launched almost 25 years ago as a large macroeconomic model of the US economy. www.federalreserve.gov/econres/notes/feds-notes/overview-of-the-changes-to-the-frb-us-model-2018-20181207.htm December 7, 2018 - FRB/US model packages - The main FRB/US model package is a self-contained set of equations, data, programs and documentation that enables various types of simulations and provides information about the model's structure. www.federalreserve.gov/econres/us-models-package.htm December 7, 2018 - Federal Reserve Board announces approval of application by Cadence Bancorporation. www.federalreserve.gov/newsevents/pressreleases/orders20181207a.htm December 7, 2018 - Federal Reserve Board announces approval of proposals by Synovus Financial Corp. and Synovus Bank. www.federalreserve.gov/newsevents/pressreleases/orders20181207b.htm December 7, 2018 - Speech by Governor Brainard on assessing financial stability over the cycle At the Peterson Institute for International Economics, Washington, D.C. www.federalreserve.gov/newsevents/speech/brainard20181207a.htm December 7, 2018 - Designated Home Mortgage Disclosure Act Key Data Fields - The Board of Governors of the Federal Reserve System, working in consultation with the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency, has developed updated information regarding the Home Mortgage Disclosure Act key data fields. www.federalreserve.gov/supervisionreg/caletters/caltr1809.htm December 7, 2018 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm December 7, 2018 - Government in the Sunshine Meeting Notice - Advanced Notice of a Meeting under Expedited Procedures - It is anticipated that the closed meeting of the Board of Governors of the Federal Reserve System at 1:30 p.m. on Tuesday, December 11, 2018, will be held under expedited procedures, as set forth in section 261b.7 of the Board's Rules Regarding Public Observation of Meetings, at the Board's offices at 20th Street and C Streets, N.W., Washington, D.C. www.federalreserve.gov/aboutthefed/boardmeetings/20181211closed.htm December 7, 2018 - FOIA - Chairman Powell's calendar, October 2018. www.federalreserve.gov/foia/chairmanscalendar-102018.htm December 7, 2018 - The U.S. Syndicated Loan Market: Matching Data - Gregory J. Cohen, Melanie Friedrichs, Kamran Gupta, William Hayes, Seung Jung Lee, W. Blake Marsh, Nathan Mislang, Maya O. Shaton, and Martin Sicilian - Abstract: We introduce a new software package for determining linkages between datasets without common identifiers. www.federalreserve.gov/econres/feds/files/2018085pap.pdf December 7, 2018 - Statistical Release - Consumer Credit - G.19 - In October, consumer credit increased at a seasonally adjusted annual rate of 7-3/4 percent. Revolving credit increased at an annual rate of 10-3/4 percent, while nonrevolving credit increased at an annual rate of 6-3/4 percent. www.federalreserve.gov/releases/g19/current/default.htm December 7, 2018 - Housing Market Indicators May Suggest another Housing Downturn on the Horizon - Recent movements in several housing indicators, including mortgage rates, existing home sales, real house prices and the momentum of residential investment, could suggest another housing downturn may be on the horizon. www.stlouisfed.org/news-releases/2018/12/07/housing-market-indicators-may-suggest-another-housing-downturn-on-the-horizon. www.stlouisfed.org/news-releases/2018/12/07/housing-market-indicators-may-suggest-another-housing-downturn-on-the-horizon December 7, 2018 - The Recent Rise in Health Care Inflation By Diane Alexander - Health care services inflation was consistently at or above 3% per year in the early 2000s, declined from around 3% at the end of the 2000s to under 1% in 2015, and then rebounded to just under 2% in early 2018. www.chicagofed.org/publications/chicago-fed-letter/2018/407 _____________________ December 6, 2018 - Detroit Economic Activity Index - The Detroit Economic Activity Index measures growth in economic activity for the city of Detroit. The index is constructed using a mixed-frequency dynamic factor model of 23 Detroit-specific data series capturing income, employment, residential and commercial real estate activity, electric customer counts, tax revenues, and port activity. www.chicagofed.org/publications/deai/index December 6, 2018 - Managing Risk in Global Financial Markets: CCP Governance, Supervisory Stress Testing, and Default Management Auctions By Nahiomy Alvarez - The second annual Symposium on OTC Derivatives was held in Shanghai on June 26, 2018. www.chicagofed.org/publications/chicago-fed-letter/2018/408 December 6, 2018 - NCUA Releases Q3 2018 Credit Union System Performance Data - Data on the financial performance of federally insured credit unions for the quarter ending Sept. 30, 2018, are now available from the National Credit Union Administration. www.ncua.gov/newsroom/Pages/news-2018-dec-ncua-releases-q3-credit-union-system-performance-data.aspx December 6, 2018 - FDIC Requests Information on the Deposit Insurance Application Process - The Federal Deposit Insurance Corporation today announced that it is seeking comments from interested parties on all aspects of the deposit insurance application process. The request is part of the FDIC's efforts to enhance transparency, efficiency, and accountability. www.fdic.gov/news/news/financial/2018/fil18080.html December 6, 2018 - FDIC Re-Issues its Processing Timeframe Guidelines for Applications, Notices, and Other Requests - The FDIC is re-publishing its timeframe guidelines for processing applications, notices, requests, and other filings submitted on behalf of existing and proposed institutions and other parties. www.fdic.gov/news/news/financial/2018/fil18081.html December 6, 2018 - Review Process for Draft Deposit Insurance Proposals - The FDIC is establishing a process to allow prospective organizers the option to request FDIC review of a draft deposit insurance proposal prior to filing an official application. www.fdic.gov/news/news/financial/2018/fil18082.html December 6, 2018 - FDIC Issues an Update to its Publication Entitled Applying for Deposit Insurance � A Handbook for Organizers of De Novo Institutions, Finalizes its Deposit Insurance Applications Procedures Manual, and Establishes a Designated Applications Mailbox - The FDIC issued an update to its publication entitled Applying for Deposit Insurance � A Handbook for Organizers of De Novo Institutions, and is issuing its Deposit Insurance Applications Procedures Manual in final form. www.fdic.gov/news/news/financial/2018/fil18083.html December 6, 2018 - FDIC Announces Actions to Promote a More Transparent, Streamlined, and Accountable Deposit Insurance Application Process - The Federal Deposit Insurance Corporation is announcing multiple initiatives and resources related to the deposit insurance application process for organizers of new, or de novo, banks, and to promote a more transparent, streamlined and accountable process for all applications submitted to the agency. www.fdic.gov/news/news/press/2018/pr18095.html December 6, 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 December 10, 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. Supervisory Matter. www.federalreserve.gov/recentpostings.htm December 6, 2018 - Statistical Release - Financial Accounts of the United States - Z.1 - The Financial Accounts of the United States includes data on transactions and levels of financial assets and liabilities, by sector and financial instrument; full balance sheets, including net worth, for households and nonprofit organizations, nonfinancial corporate businesses, and nonfinancial noncorporate businesses; Integrated Macroeconomic Accounts; and additional supplemental detail. www.federalreserve.gov/releases/z1/current/default.htm December 5, 2018 - Chicago Fed Survey of Business Conditions - Survey shows growth picked up in October and early November - The Chicago Fed Survey of Business Conditions Activity Index increased to -4 from -11, suggesting that growth in economic activity remained at a modest pace in October and early November. www.chicagofed.org/~/media/publications/cfsbc/2018/cfsbc-december2018-pdf.pdf December 5, 2018 - St. Louis Fed Releases Beige Book - The Federal Reserve Bank of St. Louis released its portion of the Federal Reserve�s latest Beige Book, published today. The local report summarizes economic conditions for the Eighth District, which is based in St. Louis and covers all of Arkansas and parts of Illinois, Indiana, Kentucky, Mississippi, Missouri and Tennessee. www.stlouisfed.org/news-releases/2018/12/st-louis-fed-releases-beige-book December 5, 2018 - Informal review by the Federal Reserve Banks of current economic conditions in their Districts - Most of the twelve Federal Reserve Districts reported that their economies expanded at a modest or moderate pace from mid-October through late November, though both Dallas and Philadelphia noted slower growth compared with the prior Beige Book period. www.federalreserve.gov/monetarypolicy/beigebook201812.htm December 5, 2018 - Speech by Vice Chairman for Supervision Quarles on banks as vital infrastructure for rural communities of the West At the Stanford Institute for Economic Policy Research, Stanford University, Stanford, California. www.federalreserve.gov/newsevents/speech/quarles20181205a.htm December 4, 2018 - The Recent Rise in Health Care Inflation By Diane Alexander - Health care services inflation was consistently at or above 3% per year in the early 2000s, declined from around 3% at the end of the 2000s to under 1% in 2015, and then rebounded to just under 2% in early 2018. www.chicagofed.org/publications/chicago-fed-letter/2018/407 December 4, 2018 - OCC Releases CRA Evaluations for 28 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 November 1, 2018 through November 30, 2018. www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-134.html December 4, 2018 - FDIC's Advisory Committee on Systemic Resolution to Meet on December 6, 2018 - FDIC Chairman Jelena McWilliams, will begin the meeting at 9:00 a.m. with opening remarks. After the chairman's statement, the committee members will discuss and receive updates on Title I: Making Bankruptcy Work; Title II: Orderly Liquidation; and Cross-Border Resolution Implementation. www.fdic.gov/news/news/press/2018/pr18093.html December 4, 2018 - FDIC Issues List of Banks Examined for CRA Compliance - The list covers evaluation ratings that the FDIC assigned to institutions in September 2018. www.fdic.gov/news/news/press/2018/pr18092.html December 4, 2018 - Agencies seek public comment on proposal to raise appraisal exemption threshold for residential real estate transactions - The three federal banking agencies announced they are seeking public comment on a proposal to raise the threshold for residential real estate transactions requiring an appraisal from $250,000 to $400,000. Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20181204a.htm Press Release: www.fdic.gov/news/news/press/2018/pr18094.html Press Release: www.occ.gov/news-issuances/news-releases/2018/nr-ia-2018-133.html December 4, 2018 - Minutes of the Board's discount rate meeting on November 8, 2018 - In a joint meeting of the Federal Open Market Committee and the Board today, the FOMC decided to maintain the target range for the federal funds rate at 2 to 2.25 percent. www.federalreserve.gov/newsevents/pressreleases/files/monetary20181204a1.pdf December 3, 2018 - Symposium Participants Expect Economy to Grow at Pace Somewhat Above Average in 2019 - The 32nd annual Economic Outlook Symposium, held in Chicago on November 30, drew participants from the manufacturing, banking, and auto industries, as well as academia and consulting and service firms. www.chicagofed.org/~/media/others/events/2018/economic-outlook-symposium/eos-press-release-pdf.pdf December 3, 2018 - OCC Report Discusses Key Risks for Federal Banking System - The Office of the Comptroller of the Currency today reported credit, operational, compliance, and interest rate risks are key themes for the federal banking system in its Semiannual Risk Perspective for Fall 2018. www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-131.html December 3, 2018 - Federal Reserve Banks remain open on Dec. 5 - On Wednesday, December 5, 2018, the Federal Reserve Bank payment and securities settlement systems will operate normally. Reserve Bank cash offices will fulfill financial institution orders for currency and coin according to normal operating procedures. www.frbservices.org/app/status/serviceStatus.do December 3, 2018 - Joint Statement on Innovative Efforts to Combat Money Laundering and Terrorist Financing - The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Financial Crimes Enforcement Network, the National Credit Union Administration, and the Office of the Comptroller of the Currency are issuing the attached joint statement to encourage banks to consider, evaluate, and, where appropriate, responsibly implement innovative approaches to meet their Bank Secrecy Act/anti-money laundering compliance obligations. Press Release: www.federalreserve.gov/supervisionreg/srletters/sr1810.htm Press Release: www.fdic.gov/news/news/financial/2018/fil18079.html Press Release: www.occ.treas.gov/news-issuances/bulletins/2018/bulletin-2018-44.html December 3, 2018 - Cross-Border Bank Flows and Monetary Policy - Ricardo Correa, Teodora Paligorova, Horacio Sapriza, and Andrei Zlate - We analyze the impact of monetary policy on bilateral cross-border bank flows using the BIS Locational Banking Statistics between 1995 and 2014. www.federalreserve.gov/econres/ifdp/files/ifdp1241.pdf December 3, 2018 - A Promised Value Approach to Optimal Monetary Policy - Timothy S. Hills, Taisuke Nakata, and Takeki Sunakawa - This paper characterizes optimal commitment policy in the New Keynesian model using a novel recursive formulation of the central bank's infinite horizon optimization problem. www.federalreserve.gov/econres/feds/files/2018083pap.pdf December 3, 2018 - Supervisory Stress Testing For CCPs: A Macro-Prudential, Two-Tier Approach - Edward L. Anderson, Fernando Cerezetti, and Mark Manning - Stress testing has become an increasingly important mechanism to support a variety of financial stability objectives. Stress tests can be used to test the individual resilience of a single entity or to assess the system-wide vulnerabilities of a network. www.federalreserve.gov/econres/feds/files/2018082pap.pdf December 3, 2018 - Statistical Release - Foreign Exchange Rates - G.5 - The table below shows the average rates of exchange in NOVEMBER 2018 together with comparable figures for other months. www.federalreserve.gov/releases/g5/current/default.htm December 3, 2018 - Speech by Governor Brainard on the structure of the Treasury market Governor Lael Brainard At "The Evolving Structure of the U.S. Treasury Market" Fourth Annual Conference Hosted by the Federal Reserve Bank of New York, New York, New York. www.federalreserve.gov/newsevents/speech/brainard20181203a.htm December 3, 2018 - Federal Reserve Board offices in Washington, D.C. will be closed on Wednesday, December 5, 2018, in observance of the national day of mourning for former President George H.W. Bush. www.federalreserve.gov/newsevents/pressreleases/other20181203a.htm December 3, 2018 - Federal Reserve Board issues joint statement encouraging depository institutions to explore innovative approaches to meet BSA/anti-money laundering compliance obligations and to further strengthen the financial system against illicit financial activity. Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20181203a.htm Press Release: www.fdic.gov/news/news/press/2018/pr18091.html Press Release: www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-130.html Press Release: www.ncua.gov/newsroom/Pages/news-2018-dec-joint-statement-encourage-innovative-approaches.aspx |
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