Bank Regulatory News

February 2011

February 28, 2011 - FDIC Issues Second Quarter 2011 CRA Examination Schedule - The Federal Deposit Insurance Corporation has issued the public list of institutions that it has scheduled for a Community Reinvestment Act examination during the second quarter of 2011.  www.fdic.gov/news/news/press/2011/pr11049.html 

February 25, 2011 - First State Bank, Mendota, Illinois, Assumes All of the Deposits of Valley Community Bank, St. Charles, Illinois - Valley Community Bank, St. Charles, Illinois, was closed today by the Illinois Department of Financial and Professional Regulation – Division of Banking, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with First State Bank, Mendota, Illinois, to assume all of the deposits of Valley Community Bank. www.fdic.gov/news/news/press/2011/pr11048.html 

February 25, 2011 - Office of the Comptroller of the Currency Provides Consumer Information at National Consumer Protection Week Event on Capitol Hill - The Office of the Comptroller of the Currency promoted awareness of consumer protection resources during today’s National Consumer Protection Week event on Capitol Hill. www.occ.gov/news-issuances/news-releases/2011/nr-occ-2011-22.html 

February 25, 2011 - FDIC Makes Public January Enforcement Actions; One Administrative Hearing Scheduled for March 2011 - The Federal Deposit Insurance Corporation today released a list of orders of administrative enforcement actions taken against banks and individuals in January. One administrative hearing is scheduled for March 2011. www.fdic.gov/news/news/press/2011/pr11047.html 

February 25, 2011 - What Drives Matching Efficiency? - A Tale of Composition and Dispersion - Regis Barnichon Federal Reserve Board Andrew Figura Federal Reserve Board - This paper presents a framework to study movements in the matching efficiency of the labor market and highlights two observable factors affecting matching efficiency: (i) unemployment composition and (ii) dispersion in labor market conditions, the fact that tight labor markets coexist with slack ones. www.federalreserve.gov/pubs/feds/2011/201110/index.html 

February 25, 2011 - Vice Chair Janet L. Yellen - Unconventional Monetary Policy and Central Bank Communications - At the University of Chicago Booth School of Business U.S. Monetary Policy Forum, New York, New York www.federalreserve.gov/newsevents/speech/yellen20110225a.htm  _______________________________

February 24, 2011 - Economic Activity Slower in January - The Chicago Fed National Activity Index was –0.16 in January, down from +0.18 in December. - Led by declines in production-related indicators, the Chicago Fed National Activity Index decreased to –0.16 in January from +0.18 in December.   www.chicagofed.org/digital_assets/publications/cfnai/2011/cfnai_february2011.pdf 

February 24, 2011 - Banking, health care and aerospace executives join board of San Francisco Fed’s Los Angeles branch - The Federal Reserve Bank of San Francisco’s board of directors has appointed Joseph C. Berenato, chairman of aerospace and defense firm Ducommun, Inc., John C. Molina, chief financial officer of Molina Healthcare, Inc., and David I. Rainer, chairman, president and chief executive of California United Bank, to the board of directors of its Los Angeles branch. www.frbsf.org/news/releases/2011/0224.html 

February 24, 2011 - St. Louis Fed’s Bullard Discusses Quantitative Easing, Global Inflation, and Commodity Standards - In remarks Thursday at the Bowling Green Area Chamber of Commerce Coffee Hour, St. Louis Fed President James Bullard discussed what he views are three of the most widely talked-about topics regarding monetary policy today. www.stlouisfed.org/newsroom/displayNews.cfm?article=915

February 24, 2011 - FDIC Advisory Committee to Discuss Principles for Low- and Moderate-Income Mortgage Lending and Supporting Financial Education - The Federal Deposit Insurance Corporation's Advisory Committee on Economic Inclusion will meet on Wednesday, March 2, to discuss principles for low- and moderate-income mortgage lending, and supporting financial education. www.fdic.gov/news/news/press/2011/pr11046.html 

February 24, 2011 - NCUA - Hyland Addresses Current Issues During Online Interview - National Credit Union Administration Board Member Gigi Hyland recently provided an online interview on a number of issues facing the credit union system.  www.ncua.gov/news/press_releases/2011/MA11-0224HylandCUBroadcastInterview.pdf 

February 24, 2011 - FDIC Offers Consumer Tips On Organizing and Simplifying Finances - Other topics in the latest FDIC Consumer News include small business loans, new Internet frauds and unlimited insurance for noninterest-bearing transaction accounts - Consumers who organize and simplify their financial life can eliminate clutter, save time, reduce stress and save money on fees, interest or other charges.  www.fdic.gov/news/news/press/2011/pr11045.html

February 23, 2011 - NCUA - NYC OTB Federal Credit Union Closes - Member Accounts Remain Safe and Federally Insured - The National Credit Union Administration today placed NYC OTB Federal Credit Union, located in New York, New York, into liquidation. www.ncua.gov/news/press_releases/2011/MR11-0223NYCOTBFCUCloses.pdf 

February 23, 2011 - Acting Comptroller Walsh Supports America Saves Week - Acting Comptroller of the Currency John G. Walsh today issued the following statement in recognition of America Saves Week, February 20 - 26, 2011 www.occ.gov/news-issuances/news-releases/2011/nr-occ-2011-21.html 

February 23, 2011 - Financial Institutions Encouraged to Promote Automatic Savings During America Saves Week - Summary: Consumers are encouraged to assess or develop their savings plan during America Saves Week. FDIC encourages financial institutions to consider strategies to promote savings by encouraging automatic savings, especially for low- and moderate-income consumers. Also, institutions can provide financial education on the importance of savings and offer free or low-cost savings accounts. www.fdic.gov/news/news/financial/2011/fil11011.html 

February 23, 2011 - FDIC-Insured Institutions Earned $21.7 Billion in the Fourth Quarter of 2010 - Reduced Loss Provisions Contributed to Full-Year Profit of $87.5 Billion - Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation reported an aggregate profit of $21.7 billion in the fourth quarter of 2010, a $23.5 billion improvement from the $1.8 billion net loss the industry reported in the fourth quarter of 2009. This is the sixth consecutive quarter that earnings registered a year-over-year increase. www.fdic.gov/news/news/press/2011/pr11044.html

February 23, 2011 - The Federal Reserve Board on Wednesday issued a final rule and requested public comment on a second rule under Regulation Z to revise the escrow account requirements for certain home mortgage loans. The revisions to the regulation, which implements the Truth in Lending Act, are being made pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act. www.federalreserve.gov/newsevents/press/bcreg/20110223b.htm 

February 23, 2011 - The Federal Reserve on Wednesday issued a Spanish version of the 2010 Federal Financial Institutions Examination Council's Bank Secrecy Act/Anti-Money Laundering Examination Manual.
Press Release: www.federalreserve.gov/newsevents/press/bcreg/20110223a.htm 
Press Release: www.fdic.gov/news/news/financial/2011/fil11012.html

February 22, 2011 - FDIC to Host Symposium on Rising Farmland Values - The Federal Deposit Insurance Corporation will host a half-day symposium to discuss issues associated with escalating farmland values over the previous decade. The symposium - "Don't Bet the Farm: Assessing the Boom in U.S. Farmland Prices" - will take place on the morning of Thursday, March 10, at the FDIC's facilities in Arlington, Virginia. www.fdic.gov/news/news/press/2011/pr11042.html 

February 22, 2011 - FDIC Encourages American Consumers to Get in the Habit of Automatic Saving - America Saves Week is February 20-27 - The Federal Deposit Insurance Corporation is calling upon consumers during America Saves Week to build savings by taking advantage of ways to automatically save money, reduce debt and build wealth. www.fdic.gov/news/news/press/2011/pr11043.html 

February 22, 2011 - Payment Systems - 2010 Calendar-Year Print Order: Volume and Value; Cost of New Currency; Currency in Circulation: Value; Currency in Circulation: Volume; Federal Reserve Expenses for Cash Operations.  www.federalreserve.gov/paymentsystems/coin_data.htm 

February 22, 2011 - Statistical Release - Charge-Off and Delinquency Rates on Loans at Commercial Banks.  www.federalreserve.gov/releases/chargeoff/ 

February 22, 2011 - Liquidity Problems and Early Payment Default Among Subprime Mortgages - Nathan B. Anderson and Jane K. Dokko - The lack of property tax escrow accounts among subprime mortgages causes borrowers to make large lump-sum tax payments that reduce liquidity.   www.federalreserve.gov/pubs/feds/2011/201109/index.html

February 22, 2011 - The Federal Reserve Board on Tuesday released the minutes of its discount rate meeting on January 24, 2011. www.federalreserve.gov/newsevents/press/monetary/20110222a.htm

February 22, 2011 - Board issues enforcement actions with American Bancorporation of Minnesota, Eastern Virginia Bankshares and EVB, Marquette Financial Companies, and National Bancorp.  www.federalreserve.gov/newsevents/press/enforcement/20110222a.htm

February 18, 2011 - Bank of Marin, Novato, California, Assumes All of the Deposits of Charter Oak Bank, Napa, California - Charter Oak Bank, Napa, California, was closed today by the California Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Bank of Marin, Novato, California, to assume all of the deposits of Charter Oak Bank. www.fdic.gov/news/news/press/2011/pr11040.html 

February 18, 2011 - HeritageBank of the South, Albany, Georgia, Assumes All of the Deposits of Citizens Bank of Effingham, Springfield, Georgia -Citizens Bank of Effingham, Springfield, Georgia, was closed today by the Georgia Department of Banking and Finance, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with HeritageBank of the South, Albany, Georgia, to assume all of the deposits of Citizens Bank of Effingham. www.fdic.gov/news/news/press/2011/pr11039.html

February 18, 2011 - OCC Enforcement Actions - The Office of the Comptroller of the Currency today released new enforcement actions taken against national banks and individuals currently and formerly affiliated with national banks.  www.occ.gov/news-issuances/news-releases/2011/nr-occ-2011-20.html 

February 18, 2011 - St. Louis Fed President James Bullard Will Speak at Bowling Green Area Chamber of Commerce Coffee Hour.   www.stlouisfed.org/newsroom/displayNews.cfm?article=905 

February 18, 2011 - SCBT National Association, Orangeburg, South Carolina, Assumes All of the Deposits of Habersham Bank, Clarkesville, Georgia - Habersham Bank, Clarkesville, Georgia, was closed today by the Georgia Department of Banking and Finance, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with SCBT National Association, Orangeburg, South Carolina, to assume all of the deposits of Habersham Bank. www.fdic.gov/news/news/press/2011/pr11038.html 

February 18, 2011 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm 

February 18, 2011 - Federal Reserve SystemMonthly Report on Credit and Liquidity Programs and the Balance Sheet February 2011.   www.federalreserve.gov/monetarypolicy/files/monthlyclbsreport201102.pdf

February 18, 2011 - International Capital Flows and the Returns to Safe Assets in the United States, 2003-2007 - Ben S. Bernanke, Carol Bertaut, Laurie Pounder DeMarco, and Steven Kamin - A broad array of domestic institutional factors--including problems with the originate-to-distribute model for mortgage loans, deteriorating lending standards, deficiencies in risk management, conflicting incentives for the GSEs, and shortcomings of supervision and regulation--were the primary sources of the U.S. housing boom and bust and the associated financial crisis.  www.federalreserve.gov/pubs/ifdp/2011/1014/ifdp1014.htm 

February 18, 2011 - Chairman Ben S. Bernanke - Global Imbalances: Links to Economic and Financial Stability - At the Banque de France Financial Stability Review Launch Event, Paris, France.  www.federalreserve.gov/newsevents/speech/bernanke20110218a.htm 
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February 17, 2011 - Annual Gain in Midwest Farmland Values Second Highest in 30 Years - Latest AgLetter reports farmland values for the fourth quarter of 2010 were 12 percent higher than a year ago. www.chicagofed.org/digital_assets/publications/agletter/2010_2014/february_2011.pdf 

February 17, 2011 - Acting Comptroller Testifies on Dodd-Frank Initiatives - Acting Comptroller of the Currency John Walsh discussed implementation of initiatives required by the Dodd-Frank Wall Street Reform and Consumer Protection Act before the Senate Committee on Banking, Housing, and Urban Affairs. www.occ.gov/news-issuances/news-releases/2011/nr-occ-2011-19.html

February 17, 2011 - Governor Sarah Bloom Raskin - Interchange fees - Before the Subcommittee on Financial Institutions and Consumer Credit, Committee on Financial Services, U.S. House of Representatives, Washington, D.C. www.federalreserve.gov/newsevents/testimony/raskin20110217a.htm 

February 17, 2011 - The Federal Reserve System in February will conduct its Survey of Finance Companies as part of an effort to paint a complete and continuing picture of the sector in the aftermath of the financial crisis. www.federalreserve.gov/newsevents/press/other/20110217a.htm 

February 17, 2011 - Board issues enforcement action with Westside Banking Company.   www.federalreserve.gov/newsevents/press/enforcement/20110217a.htm 

February 17, 2011 - NCUA BOARD MEETING RESULTS FOR FEBRUARY 17, 2011.  www.ncua.gov/GenInfo/BoardandAction/Reports/2011/BAB11-0217.pdf

February 16, 2011 - Chairman Ben S. Bernanke - Implementation of the Dodd-Frank Act - Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate, Washington, D.C. www.federalreserve.gov/newsevents/testimony/bernanke20110217a.htm

February 16, 2011 - The Federal Reserve Board announced Wednesday that the Consumer Advisory Council will hold its next meeting on Thursday, March 10. The meeting will take place in Dining Room E, Terrace Level, in the Board's Martin Building. www.federalreserve.gov/newsevents/press/other/20110216b.htm

February 16, 2011 - FFIEC IT Examination Handbook InfoBase: New Look and Improved Navigation - The Federal Financial Institutions Examination Council today announced the launch of its redesigned IT Examination Handbook InfoBase. The IT InfoBase is the primary distribution method for the IT Examination Handbook.
Press Release: www.fdic.gov/news/news/press/2011/pr11037.html 
Press Release: www.ffiec.gov/press/pr021611.htm 
Press Release: www.ncua.gov/news/press_releases/2011/JR11-0216FFIEC-ITInfoBase.pdf 

February 16, 2011 - The Federal Reserve Board on Wednesday announced the members of its Community Depository Institutions Advisory Council and the president and vice president of the council for 2011. www.federalreserve.gov/newsevents/press/other/20110216a.htm 

February 16, 2011 - Minutes of the Federal Open Market Committee, January 25-26, 2011   www.federalreserve.gov/newsevents/press/monetary/20110216a.htm 

February 15, 2011 - FARMLAND VALUES AND FARM INCOME SOAR ACCORDING TO FOURTH QUARTER AGRICULTURAL CREDIT SURVEY - With booming farm income and robust demand for farmland, Tenth District farmland values soared in the fourth quarter of 2010, according to the Federal Reserve Bank of Kansas City’s Survey of Agricultural Credit Conditions. www.kc.frb.org/publicat/newsroom/2011pdf/press.release.02.15.11.pdf 

February 15, 2011 - Office of the Comptroller of the Currency Hosts Workshops in Little Rock - The Office of the Comptroller of the Currency will host workshops for directors of nationally chartered community banks and federal savings associations in Little Rock, Arkansas, at the Peabody, April 5-6, 2011. www.occ.gov/news-issuances/news-releases/2011/nr-occ-2011-18.html 

February 15, 2011 - FDIC Seeks Nominations for Chairman's Award for Excellence in Serving the Needs of Low- and Moderate-Income Consumers - The Federal Deposit Insurance Corporation announced today a new Chairman's Award for Excellence to recognize and honor the work of individuals or small groups at FDIC-insured financial institutions who are instrumental in creating and promoting programs that meet the credit and deposit needs of low- and moderate-income consumers. There will be up to six non-monetary awards presented for programs that demonstrate excellence in providing economic products for these consumers.  www.fdic.gov/news/news/press/2011/pr11036.html  

February 15, 2011 - Board issues enforcement actions with Bank of Whitman, Idaho Banking Company, and Market Bancorporation.   www.federalreserve.gov/newsevents/press/enforcement/20110215a.htm

February 15, 2011 - The Federal Reserve Board on Tuesday announced the issuance of a Consent Order of Assessment of a Civil Money Penalty against Dacotah Bank, Aberdeen, South Dakota, a state member bank. Dacotah Bank, without admitting to any allegations, consented to the issuance of the Order in connection with its alleged violations of the Board's regulations implementing the National Flood Insurance Act. www.federalreserve.gov/newsevents/press/enforcement/20110215b.htm 

February 15, 2011 - The Federal Reserve Board on Tuesday announced the issuance of a Consent Order of Assessment of a Civil Money Penalty against Franklin Savings Bank, Farmington, Maine, a state member bank. Franklin Savings Bank, without admitting to any allegations, consented to the issuance of the Order in connection with its alleged violations of the Board's regulations implementing the National Flood Insurance Act. www.federalreserve.gov/newsevents/press/enforcement/20110215c.htm

February 15, 2011 - The Federal Reserve Board on Tuesday announced the issuance of consent Civil Money Penalty Orders against MyAnns Corporation and G. Larry Curry, a former director and institution-affiliated party of MyAnns Corporation, Piqua, Kansas, a registered bank holding company. The Orders require civil money penalty payments of $37,500 and $7,500 respectively. www.federalreserve.gov/newsevents/press/enforcement/20110215d.htm

February 14, 2011 - De Novo Interstate Branching by State Member Banks - The Dodd-Frank Wall Street Reform and Consumer Protection Act modified the federal statute governing de novo interstate branching by state member banks. As a result, as of July 22, 2010, a state member bank is authorized to open its initial branch in a host state by establishing a de novo branch at any location at which a bank chartered by the host state could establish a branch.  www.federalreserve.gov/boarddocs/srletters/2011/sr1103.htm 

February 14, 2011 - Governor Daniel K. Tarullo - Assessing the regulatory, economic, and market implications of the Dodd-Frank derviatives title - Before the Committee on Financial Services, U.S. House of Representatives, Washington, D.C. www.federalreserve.gov/newsevents/testimony/tarullo20110215a.htm 

February 11, 2011 - Governor Sarah Bloom Raskin - Putting the Low Road Behind Us - At the 2011 Midwinter Housing Finance Conference, Park City, Utah.   www.federalreserve.gov/newsevents/speech/raskin20110211a.htm

February 11, 2011 - Pacific Premier Bank, Costa Mesa, California, Assumes All of the Deposits of Canyon National Bank, Palm Springs, California - Canyon National Bank, Palm Springs, California, was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Pacific Premier Bank, Costa Mesa, California, to assume all of the deposits of Canyon National Bank. www.fdic.gov/news/news/press/2011/pr11035.html 

February 11, 2011 - Royal Bank, Elroy, Wisconsin, Assumes All of the Deposits of Badger State Bank, Cassville, Wisconsin - Badger State Bank, Cassville, Wisconsin, was closed today by the Wisconsin Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Royal Bank, Elroy, Wisconsin, to assume all of the deposits of Badger State Bank. www.fdic.gov/news/news/press/2011/pr11034.html 

February 11, 2011 - First Michigan Bank, Troy, Michigan, Assumes All of the Deposits of Peoples State Bank, Hamtramck, Michigan - Peoples State Bank, Hamtramck, Michigan, was closed today by the Michigan Office of Financial and Insurance Regulation, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with First Michigan Bank, Troy, Michigan, to assume all of the deposits of Peoples State Bank. www.fdic.gov/news/news/press/2011/pr11033.html 

February 11, 2011 - Premier American Bank, National Association, Miami, Florida, Assumes All of the Deposits of Sunshine State Community Bank, Port Orange, Florida - Sunshine State Community Bank, Port Orange, Florida, was closed today by the Florida Office of Financial Regulation, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Premier American Bank, National Association, Miami, Florida, to assume all of the deposits of Sunshine State Community Bank. www.fdic.gov/news/news/press/2011/pr11032.html 

February 11, 2011 - OCC Assesses Civil Money Penalty Against Zions - The Office of the Comptroller of the Currency announced today the assessment of an $8 million civil money penalty against Zions First National Bank, Salt Lake City, Utah, for violations of the Bank Secrecy Act and the USA Patriot Act as part of a coordinated action with the Financial Crimes Enforcement Network. Concurrent with the OCC’s penalty, FinCEN assessed an $8 million penalty against Zions. Both penalties will be satisfied by a single $8 million payment to the U.S. Department of the Treasury. www.occ.gov/news-issuances/news-releases/2011/nr-occ-2011-16.html 

February 11, 2011 - St. Louis Fed Announces Changes To The Memphis Branch Board of Directors - The Federal Reserve Bank of St. Louis has announced the following changes to its Memphis Branch board of directors: www.stlouisfed.org/newsroom/displayNews.cfm?article=899 

February 11, 2011 - FDIC Announces End of Three-Year Authorization for West Coast Temporary Satellite Office - The Federal Deposit Insurance Corporation today announced that its West Coast Temporary Satellite Office, located in Irvine CA, will conclude operations after its initial three-year authorization expires. The office was approved by the FDIC Board of Directors in November 2008 to manage receiverships and to liquidate assets from failed financial institutions primarily located in western states. www.fdic.gov/news/news/press/2011/pr11031.html 

February 11, 2011 - FDIC Announces Senior Leadership for the Office of Complex Financial Institutions and Division of Consumer Protection - The Federal Deposit Insurance Corporation today announced the hiring of additional key leadership staff for the Office of Complex Financial Institutions and the Division of Depositor and Consumer Protection www.fdic.gov/news/news/press/2011/pr11030.html 

February 10, 2011 - Nonlinearities in the Oil Price-Output Relationship - Lutz Kilian and Robert J. Vigfusson - It is customary to suggest that the asymmetry in the transmission of oil price shocks to real output is well established. Much of the empirical work cited as being in support of asymmetries, however, has not directly tested the hypothesis of an asymmetric transmission of oil price innovations. Moreover, many of the papers quantifying these asymmetric responses are based on censored oil price VAR models which recently have been shown to be invalid. www.federalreserve.gov/pubs/ifdp/2011/1013/ifdp1013.htm  _____________________

February 10, 2011 - Assessments Final Rule - On February 7, 2011, the FDIC Board of Directors adopted the attached final rule, which redefines the deposit insurance assessment base as required by the Dodd-Frank Wall Street Reform and Consumer Protection Act, makes changes to assessment rates; implements Dodd-Frank's Deposit Insurance Fund dividend provisions; and revises the risk-based assessment system for all large insured depository institutions, generally, those institutions with at least $10 billion in total assets. Nearly all of the 7,600-plus institutions with assets less than $10 billion will pay smaller assessments as a result of this final rule. www.fdic.gov/news/news/financial/2011/fil11008.html 

February 10, 2011 - FDIC Releases Updated Money Smart for Young Adults Curriculum - The Federal Deposit Insurance Corporation today announced the release of an updated and enhanced version of its instructor-led Money Smart financial education curriculum for young adults. www.fdic.gov/news/news/press/2011/pr11029.html

February 10, 2011 - Bryan Jordan Appointed to Federal Advisory Council - The board of directors of the Federal Reserve Bank of St. Louis has reappointed Bryan Jordan, president and CEO of First Horizon National Corp. in Memphis, Tenn., to serve on the Federal Advisory Council for a one-year term that ends on Dec. 31, 2011. www.stlouisfed.org/newsroom/displayNews.cfm?article=893 

February 10, 2011 - St. Louis Fed Announces Changes to Board of Directors - The Federal Reserve Bank of St. Louis announced the following changes to its board of directors: www.stlouisfed.org/newsroom/displayNews.cfm?article=894 

February 10, 2011 - St. Louis Fed Announces Changes To The Little Rock Branch Board of Directors - The Federal Reserve Bank of St. Louis has announced the following changes to its Little Rock Branch board of directors: www.stlouisfed.org/newsroom/displayNews.cfm?article=895 

February 10, 2011 - St. Louis Fed Announces Changes To The Louisville Branch Board of Directors - The Federal Reserve Bank of St. Louis announced the following changes to its Louisville Branch board of directors: www.stlouisfed.org/newsroom/displayNews.cfm?article=896

February 10, 2011 - Kevin Warsh announced his intent to resign as a member of the Board of Governors of the Federal Reserve System on or around March 31, 2011 www.federalreserve.gov/newsevents/press/other/20110210a.htm

February 10, 2011 - Board issues enforcement actions with Community Banks of Colorado and Financial Services of St. Croix Falls, Inc. www.federalreserve.gov/newsevents/press/enforcement/20110210a.htm

February 9, 2011 - Grovetta Gardineer Named Deputy Comptroller for Compliance Policy - Grovetta Gardineer was named Deputy Comptroller for Compliancy Policy at the Office of the Comptroller of Currency. www.occ.gov/news-issuances/news-releases/2011/nr-occ-2011-15.html 

February 9, 2011 - Interagency Notice of Proposed Rulemaking Incentive-Based Compensation Arrangements - The FDIC Board of Directors has approved the attached Notice of Proposed Rulemaking implementing section 956 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which applies only to financial institutions with total consolidated assets of $1 billion or more. www.fdic.gov/news/news/financial/2011/fil11007.html

February 9, 2011 - Proposed Rule Requiring Certain Bank Staff to Complete FDIC-Provided Training on Deposit Insurance Coverage - The FDIC Board of Directors has approved the attached notice of proposed rulemaking that would require certain employees of insured depository institutions to complete training on the fundamentals of FDIC deposit insurance coverage.  www.fdic.gov/news/news/financial/2011/fil11006.html

February 9, 2011 - Chairman Ben S. Bernanke - The Economic Outlook and Monetary and Fiscal Policy - Before the Committee on the Budget, U.S. House of Representatives, Washington, D.C. www.federalreserve.gov/newsevents/testimony/bernanke20110209a.htm

February 9, 2011 - The Federal Reserve Board on Wednesday announced its approval of a final rule to implement the provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act that give banking firms a period of time to conform their activities and investments to the prohibitions and restrictions of the so-called Volcker Rule. www.federalreserve.gov/newsevents/press/bcreg/20110209a.htm

February 8, 2011 - NCUA - Harper Named NCUA Director of Public and Congressional Affairs - Will Also Serve as Chief Policy Advisor to the Chairman.   www.ncua.gov/news/press_releases/2011/MA11-0208HarperPACADirector.pdf 

February 8, 2011 - Community Depository Institutions join Federal Reserve Bank of San Francisco advisory group - The Federal Reserve Bank of San Francisco announced the appointment of nine members to its newly-formed Twelfth District Community Depository Institutions Advisory Council.   www.frbsf.org/news/releases/2011/0208.html 

February 8, 2011 - Proposal for Comment - Agency Information Collections.  www.federalreserve.gov/generalinfo/foia/proposedregs.cfm#ICP-201103 

February 8, 2011 - The Federal Reserve Board on Tuesday requested comment on a proposed rule that implements two provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act related to the designation by the Financial Stability Oversight Council of systemically important nonbank financial companies for consolidated supervision by the Board. www.federalreserve.gov/newsevents/press/bcreg/20110208a.htm 

February 8, 2011 - Board issues written agreement with BankVest, Inc. of Castle Rock, Colorado.   www.federalreserve.gov/newsevents/press/enforcement/20110208a.htm 

February 7, 2011 - Competition in Mortgage Markets: What’s the Effect of Lender Type?- Economic Perspectives examines how competition among lenders affects mortgage loan characteristics. www.chicagofed.org/digital_assets/publications/economic_perspectives/2011/1qtr2011_part1_rosen.pdf

February 7, 2011 - Monitoring Financial Stability with Financial Conditions Indexes - Monitoring financial stability requires understanding of how traditional and evolving financial markets relate to each other and to economic conditions. Economic Perspectives describes two new indexes of financial conditions that quantify these relationships. www.chicagofed.org/digital_assets/publications/economic_perspectives/2011/1qtr2011_part2_brave_butters.pdf 

February 7, 2011 - NCUA Amends 2011 Board Meeting Schedule - The 2011 National Credit Union Administration Board meeting schedule has been revised. The September meeting has been changed from September 15 to September 22. www.ncua.gov/news/press_releases/2011/MR11-0207BoardMeeting.pdf 

February 7, 2011 - Office of the Comptroller of the Currency Hosts Workshop in Indianapolis - The Office of the Comptroller of the Currency will host a workshop for directors of nationally chartered community banks and federal savings associations in Indianapolis at the Embassy Suites Indianapolis, March 28-30, 2011. www.occ.gov/news-issuances/news-releases/2011/nr-occ-2011-14.html 

February 7, 2011 - FDIC Approves Final Rule of Assessments, Dividends, Assesment Base and Large Bank Pricing - The Board of Directors of the Federal Deposit Insurance Corporation today approved a final rule on Assessments, Dividends, Assessment Base and Large Bank Pricing.   www.fdic.gov/news/news/press/2011/pr11028.html

February 7, 2011 - FDIC Board Approves for Public Comment Interagency Rule to Implement the Incentive-Based Compensation Requirement Under Dodd-Frank Reform Act - The Board of Directors of the Federal Deposit Insurance Corporation today approved a joint proposed rulemaking to implement Section 956 of the Dodd-Frank Wall Street Reform and Consumer Protection Act.  www.fdic.gov/news/news/press/2011/pr11027.html 

February 7, 2011 - FDIC Board Proposes Rule to Improve Public Awareness of Deposit Insurance Limits - The Board of Directors of the Federal Deposit Insurance Corporation today issued a Notice of Proposed Rulemaking to improve consumer awareness of deposit insurance coverage. www.fdic.gov/news/news/press/2011/pr11026.html 

February 7, 2011 - Consumer credit increased at an annual rate of 2-1/2 percent in the fourth quarter. Revolving credit declined at an annual rate of 2-3/4 percent, and nonrevolving credit increased at an annual rate of 5-1/2 percent. In December, consumer credit increased 3 percent at an annual rate. www.federalreserve.gov/releases/g19/current/g19.htm 

February 4, 2011 - Northbrook Bank and Trust Company, Northbrook, Illinois, Assumes All of the Deposits of Community First Bank – Chicago, Chicago, Illinois - Community First Bank – Chicago, Chicago, Illinois, was closed today by the Illinois Department of Financial and Professional Regulation, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Northbrook Bank and Trust Company, Northbrook, Illinois, to assume all of the deposits of Community First Bank - Chicago. www.fdic.gov/news/news/press/2011/pr11025.html 

February 4, 2011 - BankSouth, Greensboro, Georgia, Assumes All of the Deposits of North Georgia Bank, Watkinsville, Georgia - North Georgia Bank, Watkinsville, Georgia, was closed today by the Georgia Department of Banking and Finance, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with BankSouth, Greensboro, Georgia, to assume all of the deposits of North Georgia Bank, except certain brokered and Internet deposits.  www.fdic.gov/news/news/press/2011/pr11024.html 

February 4, 2011 - NCUA - Oakland Municipal Credit Union Closes; Members Now Served by Western Federal Credit Union - The National Credit Union Administration today was appointed liquidating agent of Oakland Municipal Credit Union of Oakland, by the California Department of Financial Institutions and Western Federal Credit Union of Manhattan Beach, California, mmediately purchased and assumed Oakland Municipal’s assets, liabilities and members. www.ncua.gov/news/press_releases/2011/MR11-0204OaklandMunicipalClosesFINAL.pdf 

February 4, 2011 - Who Would Be Affected by Soda Taxes? - In 2010, 17 states considered expanding taxation on sugar-sweetened beverages. Chicago Fed Letter examines anticipated impact of proposed taxes on different population groups.   www.chicagofed.org/digital_assets/publications/chicago_fed_letter/2011/cflmarch2011_284.pdf 

February 4, 2011 - NCUA Adds Social Media Expertise - Social Media Specialist Joins Public & Congressional Affairs - NCUA has hired a new specialist in social media outreach as a way to ensure a vibrant and active presence in the social media sphere. Kenzie Snowden joins the National Credit Union Administration this week as the Agency’s Social Media and Outreach Specialist, and will focus on active communication with key audiences through Twitter, Facebook, YouTube and other forms of ecommunication. www.ncua.gov/news/press_releases/2011/MA11-0204SocialMedia.pdf 

February 4, 2011 - OCC Releases CRA Evaluations For 12 National Banks - The Office of the Comptroller of the Currency today released a list of Community Reinvestment Act performance eevaluations that became public during the period of December 15, 2010 through January 14, 2011. www.occ.gov/news-issuances/news-releases/2011/nr-occ-2011-13.html 

February 4, 2011 - OCC Deputy Comptroller Testifies on Commercial Real Estate - Deputy Comptroller for Credit and Market Risk David K. Wilson discussed commercial real estate in testimony before the Congressional Oversight Panel. www.occ.gov/news-issuances/news-releases/2011/nr-occ-2011-12.html 

February 4, 2011 - Renasant Bank, Tupelo, Mississippi, Assumes All of the Deposits of American Trust Bank, Roswell, Georgia - American Trust Bank, Roswell, Georgia, was closed today by the Georgia Department of Banking and Finance, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Renasant Bank, Tupelo, Mississippi, to assume all of the deposits of American Trust Bank. www.fdic.gov/news/news/press/2011/pr11023.html 

February 4, 2011 - 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/2011/pr11022.html 

February 4, 2011 - FDIC Announces Michael Krimminger as General Counsel - FDIC Chairman Sheila C. Bair today announced the appointment of Michael H. Krimminger as the agency's new General Counsel. The appointment was unanimously approved by the FDIC Board of Directors and is effective today. www.fdic.gov/news/news/press/2011/pr11021.html 

February 4, 2011 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

February 4, 2011 - Patrick M. Parkinson, Director, Division of Banking Supervision and Regulation - Commercial Real Estate - Before the Congressional Oversight Panel, Washington, D.C. www.federalreserve.gov/newsevents/testimony/parkinson20110204a.htm 
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February 3, 2011 - Agencies Propose Changes in Reporting Requirements for OTS-Regulated Savings Associations and Savings and Loan Holding Companies - The federal bank and thrift regulatory agencies announced proposed changes today to reporting requirements for savings associations and savings and loan holding companies regulated by the Office of Thrift Supervision.
Press Release: www.federalreserve.gov/newsevents/press/bcreg/20110203a.htm
Press Release: www.fdic.gov/news/news/press/2011/pr11020.html 
Press Release: www.occ.gov/news-issuances/news-releases/2011/nr-ia-2011-11.html 
Press Release: www.ots.treas.gov/?p=PressReleases&ContentRecord_id=ed24f093-ec66-e704-d7bf-3cf4dc841c0b&ContentType_id=4c12f337-b5b6-4c87-b45c-838958422bf3 

February 3, 2011 - Economic Outlook Symposium: Summary of 2010 results and forecasts for 2011 - by William A. Strauss, senior economist and economic advisor, and Norman Wang, associate economist - According to participants in the Chicago Fed’s annual Economic Outlook Symposium, solid economic growth is forecasted for the nation in 2011, following a year with moderate growth; inflation is expected to edge higher in 2011; and the unemployment rate is predicted to remain elevated this year. www.chicagofed.org/digital_assets/publications/chicago_fed_letter/2011/cflfebruary2011_283.pdf 

February 3, 2011 - Chairman Ben S. Bernanke - The Economic Outlook and Macroeconomic Policy - At the National Press Club, Washington, D.C. www.federalreserve.gov/newsevents/speech/bernanke20110203a.htm 

February 2, 2011 - Governor Elizabeth A. Duke - From Community Banker to Central Banker--My Journey - At the University of North Carolina Kenan-Flagler Dean's Speaker Series, Chapel Hill, North Carolina.  www.federalreserve.gov/newsevents/speech/duke20110202a.htm 

February 2, 2011 - Payment Systems - Payment system risk data through 2010: Q4.  www.federalreserve.gov/paymentsystems/psr_data.htm 

February 1, 2011 - David Chen Appointed Chairman of Portland Branch Federal Reserve Board - The Board of Governors of the Federal Reserve System appointed David Chen chairman of the Portland Branch board of directors, effective January 1, 2011.  Mr. Chen is CEO and founder of Equilibrium Capital Group LLC, an investment firm focused on real asset sectors impacted by resource constraints and sustainability. www.frbsf.org/news/releases/2011/0201_2.html 

February 1, 2011 - The Federal Reserve Board on Tuesday announced that it does not expect to finalize three pending rulemakings under Regulation Z, which implements the Truth in Lending Act, prior to the transfer of authority for such rulemakings to the Consumer Financial Protection Bureau.   www.federalreserve.gov/newsevents/press/bcreg/20110201a.htm 

February 1, 2011 - Board issues enforcement action with Cokato Bancshares, Inc. www.federalreserve.gov/newsevents/press/enforcement/20110201a.htm