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February 28, 2013 - Office of the Comptroller of the Currency
Provides Consumer Information at National Consumer Protection
Week Event on Capitol Hill.
February 28, 2013 - FDIC Issues Second Quarter 2013 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 2013.
February 28, 2013 - Governor Sarah Bloom Raskin - Reflections on
Reputation and its Consequences - At the 2013 Banking Outlook
Conference at the Federal Reserve Bank of Atlanta, Atlanta,
February 28, 2013 - Amendments to consent orders memorialize
$9.3 billion foreclosure agreement - The Office of the
Comptroller of the Currency and the Federal Reserve Board today
released amendments to their enforcement actions against 13
mortgage servicers for deficient practices in mortgage loan
servicing and foreclosure processing. The amendments require the
servicers to provide $9.3 billion in payments and other
assistance to borrowers.
February 28, 2013 - NCUA Home Mortgage Disclosure Act Webinar
Now Available Online - The National Credit Union
Administration’s recent webinar about the Home Mortgage
Disclosure Act (HMDA) and Loan Application Registers is now
available online, the agency announced today.
February 28, 2013 - NCUA Issues Prohibition Orders - The
National Credit Union Administration has issued orders
prohibiting the following individuals from participating in the
affairs of any federally insured financial institution.
February 27, 2013 - Comptroller Speaks to Members of the
National Association of Affordable Housing Lenders - Comptroller
of the Currency Thomas J. Curry today discussed the benefits and
strength of public welfare investment authority during a speech
before the National Association of Affordable Housing Lenders.
February 26, 2013 - NCUA - Fryzel: Credit Unions Draw on a
“Powerful Legacy of Common Purpose” - National Credit Union
Administration Board Member Michael E. Fryzel told a crowd of
more than 4,200 credit union officials that their joint vision
and values rescued the industry from the recent recession and
honored what their predecessors had created.
February 26, 2013 - Comptroller Addresses the National
Association of Attorneys General - Comptroller of the Currency
Thomas J. Curry today discussed the Office of the Comptroller of
the Currency’s authority and use of enforcement actions during a
speech before the National Association of Attorneys General.
February 26, 2013 - FDIC-Insured Institutions Earned $34.7
Billion in The Fourth Quarter of 2012 - Commercial banks and
savings institutions insured by the Federal Deposit Insurance
Corporation reported aggregate net income of $34.7 billion in
the fourth quarter of 2012, a $9.3 billion (36.9 percent)
improvement from the $25.3 billion in profits the industry
reported in the fourth quarter of 2011.
February 26, 2013 - Chairman Ben S. Bernanke - Semiannual
Monetary Policy Report to the Congress - Before the Committee on
Banking, Housing, and Urban Affairs, U.S. Senate, Washington,
February 26, 2013 - Federal Reserve Board announces proposed
rule regarding Federal Reserve Bank accounts and services for
financial market utilities designated as systemically important.
February 26, 2013 - Minutes of the Board's discount rates
meetings from January 14 and January 28, 2013.
February 25, 2013 - Unemployment Among Recent Veterans -
Economic Perspectives article looks at how recent veterans have
fared in the labor market during and after the Great Recession.
February 25, 2013 - Economic Growth Moderated in January - The
Chicago Fed National Activity Index was –0.32 in January, down
from +0.25 in December.
February 25, 2013 - NCUA - Chairman Matz Introduces the “New
NCUA” - National Credit Union Administration Board Chairman
Debbie Matz unveiled the “new” NCUA, more responsive to emerging
risks, industry challenges and credit unions’ needs, in a
keynote speech today.
February 25, 2013 - Office of the Comptroller of the Currency
Marks Sesquicentennial Year - The Office of the Comptroller of
the Currency turns 150 today.
February 25, 2013 - FDIC and European Commission Meet to Discuss
International Resolution Initiatives - Representatives of the
Federal Deposit Insurance Corporation and the European
Commission met on Tuesday, February 19, to discuss issues
related to the resolution of banks and systemically important
financial institutions and to deposit insurance regimes.
February 22, 2013 - FDIC Makes Public January Enforcement
Actions; No Administrative Hearings Scheduled for March 2013.
February 22, 2013 - Credit and Liquidity Programs and the
Balance Sheet - Recent balance sheet trends, weekly chart data
February 22, 2013 - Governor Jerome H. Powell - Discussion of
"Crunch Time: Fiscal Crises and the Role of Monetary Policy" -
At the "U.S. Monetary Policy Forum" conference sponsored by the
University of Chicago Booth School of Business, New York, New
February 22, 2013 - Federal Reserve Board extends comment period
on proposed rule to implement enhanced prudential standards and
early remediation requirements until April 30, 2013
February 21, 2013 - Are Local Property Tax Breaks for Businesses
and Nonprofits Broken? Chicago Fed Letter explores the
role of property tax incentives in supporting business growth,
as well as the tax treatment of nonprofits’ properties.
February 21, 2013 - February NCUA Economic Video Now Available
February 21, 2013 - St. Louis Fed’s Bullard Discusses the
Current Stance of U.S. Monetary Policy - Federal Reserve Bank of
St. Louis President James Bullard gave remarks Thursday on
“Perspectives on the Current Stance of Monetary Policy” to the
Center for Global Economy and Business at New York University’s
Stern School of Business.
February 21, 2013 - Deposit Insurance Coverage - Free Nationwide
Telephone Seminars for Bank Officers and Employees - The FDIC
will conduct 15 free telephone seminars on deposit insurance
coverage for bank officers and employees between March 20, 2013,
and December 3, 2013.
February 21, 2013 - FDIC Calls Upon American Consumers to Save
and Build Wealth; America Saves Week Is February 25 - March 2,
February 20, 2013 - NCUA - Federal and State Regulators Offer
More Opportunities for Low-Income Credit Unions.
February 20, 2013 - Minutes of the Federal Open Market
Committee, January 29-30, 2013.
February 19, 2013 - NCUA Permanent Funds Earn Clean Audit
Opinions for 2012 - All four National Credit Union
Administration permanent funds have received unqualified, or
“clean,” audit opinions for 2012, according to audited financial
reports released today by the agency.
February 19, 2013 - NCUA - Amez United Credit Union Closes - The
Michigan Office of Financial and Insurance Regulation today
liquidated Amez United Credit Union of Detroit, Mich., and
appointed the National Credit Union Administration as
February 19, 2013 - FDICCONNECT - Three New FDICconnect Business
Transactions Available - The FDIC is offering three new online
business transactions through FDICconnect, its secure
transaction-based Web site for FDIC-insured institutions.
Institutions will be able to submit interagency bank merger
applications, notices of change in control, and notices of
change of director or senior executive officer.
February 19, 2013 - Regulatory Reform - Communications with the
public through February 19, 2013.
February 19, 2013 - Federal Reserve Board announces termination
of enforcement action against Central Pacific Financial
February 15, 2013 - Liberty Bank and Trust Company, New Orleans,
Louisiana, Assumes All of the Deposits of Covenant Bank,
Chicago, Illinois - Covenant Bank, Chicago, 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 Liberty Bank and Trust Company, New Orleans,
Louisiana, to assume all of the deposits of Covenant Bank.
February 15, 2013 - The NCUA Report for February 2013 Now
Available - The NCUA Report is NCUA’s flagship publication that
highlights important NCUA Board actions and key issues that
credit union volunteers and management need to know. It is a
one-stop resource to learn not just the “what” but also the
“why” behind NCUA’s actions.
February 15, 2013 - OCC Enforcement Actions - 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.
February 15, 2013 - Credit and Liquidity Programs and the
Balance Sheet - Recent balance sheet trends, weekly chart data
February 14, 2013 - Midwest Farmland Values Continue to Surge -
Latest AgLetter reports farmland values for 2012 increased 16
percent from the previous year in the Seventh Federal Reserve
February 14, 2013 - NCUA Raises Awareness of the Earned Income
Tax Credit - The National Credit Union Administration is joining
the Internal Revenue Service and other federal agencies to
inform qualified taxpayers and remind credit unions providing
tax assistance services of the Earned Income Tax Credit.
February 14, 2013 - Comptroller of the Currency Testifies on
Regulatory Reform - Comptroller of the Currency Thomas J. Curry
today discussed the status of efforts to implement the
regulatory reforms required by the Dodd-Frank Wall Street Reform
and Consumer Protection Act of 2010 during a hearing before the
Committee on Banking, Housing, and Urban Affairs of the U.S.
February 14, 2013 - Leadership and membership appointments
announced for the Federal Reserve Bank of San Francisco’s
Community Depository Institutions Advisory Council - Steven R.
Gardner, president and CEO, Pacific Premier Bancorp, Inc., Costa
Mesa, CA, was appointed as vice chair of the Federal Reserve
Bank of San Francisco’s Community Depository Institutions
Advisory Council. Mr. Gardner has been on the council since
February 14, 2013 - St. Louis Fed President James Bullard Will
Speak at New York University’s Stern School of Business.
February 14, 2013 - St. Louis Fed’s Bullard Says U.S. Monetary
Policy Is Considerably Easier Today Than in 2012 - Federal
Reserve Bank of St. Louis President James Bullard gave remarks
Thursday on “U.S. Monetary Policy: Easier Than You Think It Is,”
at a special banking forum sponsored by Mississippi State
University’s Department of Finance and Economics.
February 14, 2013 - Federal Reserve Board announces termination
of enforcement action with Rurban Financial Corp. and Rurbanc
Data Services, Inc.
February 13, 2013 - Comptroller of the Currency Discusses OCC
Enforcement Actions, Independent Foreclosure Review Agreement -
Comptroller of the Currency Thomas J. Curry today discussed OCC
enforcement policy in a speech before the Women in Housing and
February 13, 2013 - D. Bryan Jordan Reappointed to Federal
February 13, 2013 - St. Louis Fed Ag Survey Shows Higher Than
Expected 2012 Farm Income; Crop Insurance Alleviates Much of
Drought’s Financial Impact in Midwest, Mid-South.
February 13, 2013 - St. Louis Fed Announces Changes to Board of
February 13, 2013 - St. Louis Fed Announces Changes To The
Louisville Branch Board of Directors.
February 12, 2013 - Fed Presidents Respond to Money Market
Mutual Fund Reform Proposal - The presidents of the 12 Federal
Reserve Banks have submitted a joint letter responding to the
Financial Stability Oversight Council's proposal on money market
mutual fund reform.
February 12, 2013 - NCUA Hosting Webinar on Net Worth
Restoration Plans - The National Credit Union Administration
Office of Small Credit Union Initiatives will host a free
webinar - “Net Worth Restoration Plans: A Path to Recovery” - on
Wednesday, Feb. 20, at 2 p.m. Eastern.
February 12, 2013 - FDIC Approves Proposed Rule on the
Definition of Insured Deposit at Foreign Branches of U.S. Banks
- The Board of Directors of the Federal Deposit Insurance
Corporation today approved a notice of proposed rulemaking to
clarify that while deposits in foreign branches of U.S. banks
can be deposits for purposes of the national depositor
preference statute enacted in 1993, they are not FDIC-insured.
February 12, 2013 - Payment Systems - Peak and Average Daylight
Overdrafts, Quarterly Data Updates.
February 12, 2013 - Federal Reserve Board issues an enforcement
action against Commonwealth Savingshares Corporation.
February 11, 2013 - NCUA - Lee Named NCUA’s Ombudsman - National
Credit Union Administration Chairman Debbie Matz announced that
Joy Lee will assume the duties as Ombudsman for the agency,
February 11, 2013 - Vice Chair Janet L. Yellen - A Painfully
Slow Recovery for America's Workers: Causes, Implications, and
the Federal Reserve's Response - At the "A Trans-Atlantic Agenda
for Shared Prosperity" conference sponsored by the AFL-CIO,
Friedrich Ebert Stiftung, and the IMK Macroeconomic Policy
Institute, Washington, D.C.
February 8, 2013 - Modifications to the Statement of Policy for
Section 19 of the Federal Deposit Insurance Act - Section 19 of
the Federal Deposit Insurance Act prohibits, without the prior
written consent of the Federal Deposit Insurance Corporation, a
person convicted of a criminal offense involving dishonesty,
breach of trust, money laundering, or who has entered into a
pretrial diversion program, from participating in the affairs of
an FDIC-insured institution.
February 8, 2013 - Lessons from the Historical Use of Reserve
Requirements in the United States to Promote Bank Liquidity -
Mark A. Carlson - Efforts in the United States to promote bank
liquidity through reserve requirements, a minimum ratio of
liquid assets relative to liabilities, extend at least as far
back as the aftermath of the Panic of 1837.
February 8, 2013 - From Wall Street to Main Street: The Impact
of the Financial Crisis on Consumer Credit Supply - Rodney
Ramcharan, Skander Van den Heuvel, and Stephane Verani - This
paper studies how the collapse of the asset backed securities
market during the financial crisis of 2007-2009 affected the
supply of credit to the broader economy using a new dataset that
describes unique interbank relationships within the credit union
February 8, 2013 - Credit and Liquidity Programs and the Balance
Sheet - Recent balance sheet trends, weekly chart data update.
February 8, 2013 - Federal Open Market Committee - 2007
Bluebooks and Greenbooks.
February 7, 2013 - OCC Names Donna Murphy as Director for
Community and Consumer Law - The Office of the Comptroller of
the Currency today announced the selection of Donna Murphy as
Director for Community and Consumer Law.
February 7, 2013 - Larry Hattix Named Senior Deputy Comptroller
for Enterprise Governance and Ombudsman - Comptroller of the
Currency Thomas J. Curry today named Larry Hattix the agency's
Senior Deputy Comptroller for Enterprise Governance and
February 7, 2013 - OCC Newsletter Highlights State Small
Business Credit Initiative - The Office of the Comptroller of
the Currency today published the latest edition of its Community
Development Investments electronic newsletter, titled “The State
Small Business Credit Initiative.”
February 7, 2013 - Consumer credit increased at a seasonally
adjusted annual rate of 6-1/2 percent during the fourth quarter.
Revolving credit was little changed, while nonrevolving credit
increased at an annual rate of 9-1/2 percent. In December,
consumer credit increased at an annual rate of 6-1/4 percent.
February 7, 2013 - Governor Jeremy C. Stein - Overheating in
Credit Markets: Origins, Measurement, and Policy Responses - At
the "Restoring Household Financial Stability after the Great
Recession: Why Household Balance Sheets Matter" research
symposium sponsored by the Federal Reserve Bank of St. Louis,
St. Louis, Missouri.
February 7, 2013 - Federal Reserve Board issues enforcement
action with Countricorp, and announces termination of
enforcement action with JLL Associates G.P. FCH, L.L.C., JLL
Associates FCH, L.P., JLL Partners Fund FCH, L.P., JLL/FCH
Holdings I, L.L.C.
February 6, 2013 - Financial Conditions Edge Tighter in Week
Ending February 1 - The NFCI ticked up to –0.71 in the week
ending February 1, indicating slightly tighter financial
conditions. The risk, credit and nonfinancial leverage
subindexes increased slightly from the previous week, while the
leverage subindex decreased slightly.
February 6, 2013 - St. Louis Fed President James Bullard Will
Speak at Arkansas State University’s Agribusiness Conference.
February 5, 2013 - International Training & Assistance for Bank
Supervisors - 2013 Course Catalog - The Board of Governors and
the Reserve Banks of the Federal Reserve System offer training
and technical assistance for supervisors and staff of other
central banks, as well as bank supervisory authorities.
February 5, 2013 - Governor Elizabeth A. Duke - The Future of
Community Banking - At the Southeastern Bank Management and
Directors Conference, University of Georgia, Terry College of
Business, Duluth, Georgia.
February 5, 2013 - Federal Reserve Board announces termination
of enforcement action with Progressive Growth Corp.
February 4, 2013 - 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.
February 4, 2013 - The January 2013 Senior Loan Officer Opinion
Survey on Bank Lending Practices addressed changes in the supply
of, and demand for, bank loans to businesses and households over
the past three months. This summary is based on responses from
68 domestic banks and 22 U.S. branches and agencies of foreign
February 4, 2013 - Vice Chair Janet L. Yellen -
Interconnectedness and Systemic Risk: Lessons from the Financial
Crisis and Policy Implications
At the American Economic Association/American Finance
Association Joint Luncheon, San Diego, California.
February 1, 2013 - OCC Releases CRA Evaluations for 44 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 January 1, 2013 through January 31, 2013.
February 1, 2013 - Office of the Comptroller of the Currency
Hosts Workshops in Washington, D.C. - The Office of the
Comptroller of the Currency will host two workshops at the OCC
Headquarters in Washington, D.C., with accommodations provided
at the Residence Inn by Marriott, March 5-6, for directors of
national community banks and federal savings associations.
February 1, 2013 - Credit and Liquidity Programs and the Balance
Sheet - Recent balance sheet trends, weekly chart data update.
February 1, 2013 - Uncertainty at the Zero Lower Bound - Taisuke
Nakata - This paper examines how the presence of uncertainty
alters allocations and prices when the nominal interest rate is
constrained by the zero lower bound. I conduct the analysis
using a standard New Keynesian model in which the nominal
interest rate is determined according to a truncated Taylor
February 1, 2013 - Stock Prices, News, and Economic
Fluctuations: Comment - Andre Kurmann and Elmar Mertens -
Beaudry and Portier (American Economoc Review, 2006) propose an
identification scheme to study the effects of news shocks about
future productivity in Vector Error Correction Models.
February 1, 2013 - Annual Report on FOIA for Fiscal Year 2012 -
The following information is submitted to the U.S. Department of
Justice by the Board of Governors of the Federal Reserve System
in accordance with the requirements of the Freedom of
Information Act (5 U.S.C. § 552(e)), as amended.
February 1, 2013 - A Test for Selection in Matched
Administrative Earnings Data - Jesse Bricker and Gary V.
Engelhardt - We test whether individuals in the Health and
Retirement Study who consented to have administrative earnings
data matched to survey responses represent a non-random sample.
February 1, 2013 - Price and Quality Dispersion in an Offshoring
Market: Evidence from Semiconductor Production Services - David
M. Byrne, Brian K. Kovak, and Ryan Michaels - We study
cross-country differences in price and quality in the market for
semiconductor wafer manufacturing services.
February 1, 2013 - Government Debt and Macroeconomic Activity: A
Predictive Analysis for Advanced Economies - Deniz Baglan and
Emre Yoldas - This paper explores the empirical relationship
between government debt and future macroeconomic activity using
data on twenty advanced economies throughout the post-war era.