The E-mail Banking News
(Bank Regulatory News)
February 2014

February 28, 2014 - First Choice Bank, Mercerville, New Jersey, Assumes All of the Deposits of Vantage Point Bank, Horsham, Pennsylvania.   www.fdic.gov/news/news/press/2014/pr14017.html

February 28, 2014 - WashingtonFirst Bank, Reston, Virginia, Assumes All of the Deposits of Millennium Bank, National Association, Sterling, Virginia.   www.fdic.gov/news/news/press/2014/pr14016.html

February 28, 2014 - Innovative Affordable Housing in Milwaukee - In this latest blog posting the Chicago Fed's Community Development and Policy Studies division looks at a new affordable housing apartment complex, The Villard Square GrandFamily Apartments, in Milwaukee, Wisconsin, for families headed by grandparents and other relatives who share their homes with related children. http://cdps.chicagofedblogs.org/?p=1262

February 28, 2014 - Fed’s Evans Addresses Monetary Policy Forum - Chicago Fed President Charles Evans talked about monetary policy strategy and communications February 28 during the U.S. Monetary Policy Forum in New York. www.chicagofed.org/digital_assets/publications/speeches/2014/02_28_2105_monetary_policy_and_communications_charles_evans_new_york_city_print.pdf

February 28, 2014 - NCUA Economic Update Series Returns - Economists expect 2014 to be a good year for growth and employment according to a new economic video analysis released today by the National Credit Union Administration.   www.ncua.gov/News/Pages/NW20140228EconomicVideo.aspxwww.ncua.gov/News/Pages/NW20140228EconomicVideo.aspx

February 28, 2014 - NCUA Issues Prohibition Orders - The National Credit Union Administration has issued four orders in February prohibiting the following individuals from participating in the affairs of any federally insured financial institution.  www.ncua.gov/News/Pages/NW20140228ProhibitionOrders.aspx

February 28, 2014 - FDIC Makes Public January Enforcement Actions; One Administrative Hearing Scheduled for March 2014 - The Federal Deposit Insurance Corporation today released a list of orders of administrative enforcement actions taken against banks and individuals in January.   www.fdic.gov/news/news/press/2014/pr14015.html

February 28, 2014 - FDIC Issues Second Quarter 2014 CRA Examination Schedule.  www.fdic.gov/news/news/press/2014/pr14014.html

February 28, 2014 - Legal Developments - Section 19 letters, November 22, 2013 and February 6, 2014.   www.federalreserve.gov/bankinforeg/legaldevelopments/ordersother2014.htm

February 28, 2014 - Governor Jeremy C. Stein - Comments on "Market Tantrums and Monetary Policy" - At the 2014 U.S. Monetary Policy Forum, New York, New York www.federalreserve.gov/newsevents/speech/stein20140228a.htm
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February 28, 2014 - FDIC Makes Public January Enforcement Actions - One Administrative Hearing Scheduled for March 2014 - The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in January. One administrative hearing is scheduled for March 2014. http://www.fdic.gov/news/news/press/2014/pr14015.html

February 27, 2014 - OCC Releases CRA Evaluations for 30 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, 2013 through November 30, 2013. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-26.html

February 27, 2014 - OCC Releases CRA Evaluations for 54 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 October 1, 2013 through October 31, 2013. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-25.html

February 27, 2014 - Financial Market Stress Declines Modestly from Previous Week - Financial market stress declined for the second consecutive week according to the St. Louis Fed Financial Stress Index. For the week ending Feb. 21, 2014, the STLFSI measured -0.981, a modest decline from the previous week’s measure of -0.978. Financial market stress remained below zero for the 110th consecutive week. www.stlouisfed.org/newsroom/displayNews.cfm?article=2095

February 27, 2014 - Housing Crash Continues to Overshadow Young Families’ Balance Sheets - The average young family (headed by someone under 40) has recovered only about one-third of the wealth it lost during the financial crisis and recession, while the average middle-age or older family has recovered to nearly its precrisis level, according to new analysis from the Center for Household Financial Stability at the Federal Reserve Bank of St. Louis. www.stlouisfed.org/newsroom/displayNews.cfm?article=2096

February 27, 2014 - FDIC to Feature Five Key Tips for National Consumer Protection Week - In observance of National Consumer Protection Week 2014, held March 2-8, the FDIC each weekday will issue a consumer tip on a different banking topic related to saving and protecting money. The five tips and other consumer information from the FDIC will be posted at www.fdic.gov/ncpw for reference year-round. www.fdic.gov/news/news/press/2014/pr14013.html

February 27, 2014 - Using Data on Seller Behavior to Forecast Short-run House Price Changes - Elliot Anenberg and Steven Laufer - We construct a new "list-price index" that accurately reveals trends in house prices several months before existing sales price indices like Case-Shiller.  www.federalreserve.gov/pubs/feds/2014/201416/201416pap.pdf

February 27, 2014 - Advisory Council - Record of the Meeting of the Federal Advisory Council and the Board of Governors, February 7, 2014.   www.federalreserve.gov/aboutthefed/fac-20140207.pdf

February 27, 2014 - Regulatory Reform - Communications with the public through February 27, 2014.   www.federalreserve.gov/newsevents/reform_meetings.htm

February 27, 2014 - Federal Reserve Board announces 30-day comment period extension for proposed rulemaking regarding physical commodity activities conducted by financial holding companies - The public will have an additional 30 days to comment on an advance notice of proposed rulemaking regarding physical commodity activities conducted by financial holding companies.  www.federalreserve.gov/newsevents/press/bcreg/20140227a.htm

February 27, 2014 - Federal Reserve Board announces termination of enforcement action with Trivoli Bancorp.   www.federalreserve.gov/newsevents/press/enforcement/20140227a.htm

February 27, 2014 - NCUA Hosting Bank Secrecy Act Webinar - Credit union managers and compliance staff will be able to learn more about Bank Secrecy Act compliance on a free webinar, “BSA-MSB Training: What You Need to Know,” hosted by the National Credit Union Administration on Wednesday, March 19, 2014, at 2 p.m. Eastern. www.ncua.gov/News/Pages/NW20140227BankSecrecy.aspx 

February 26, 2014 - FDIC-Insured Institutions Earned $40.3 Billion in the Fourth Quarter of 2013 - FDIC-Insured Institutions Earned $40.3 Billion in the Fourth Quarter of 2013 - Full-Year Net Income Rose to $154.7 Billion.  www.fdic.gov/news/news/press/2014/pr14012.html

February 26, 2014 - Estimating the Effect of Central Clearing on Credit Derivative Exposures - Sean Campbell - Central clearing of derivatives is a primary objective of the global financial reform effort emerging from the financial crisis. Central clearing of standardized derivatives is required by the Dodd-Frank Act, and the G-20 has also committed to increased central clearing for standardized derivatives. www.federalreserve.gov/econresdata/notes/feds-notes/2014/estimating-the-effect-of-central-clearing-on-credit-derivative-exposures-20140226.html

February 26, 2014 - Banks as Patient Fixed Income Investors - Samuel G. Hanson, Andrei Shleifer, Jeremy C. Stein, and Robert W. Vishny - We examine the business model of traditional commercial banks in the context of their co-existence with shadow banks. While both types of intermediaries create safe "money-like" claims, they go about this in very different ways. www.federalreserve.gov/pubs/feds/2014/201415/201415pap.pdf

February 25, 2014 - NCUA Releases Rapid City Telco Federal Credit Union from Cease and Desist Order - The National Credit Union Administration announced today it has released Rapid City Telco Federal Credit Union of Rapid City, S.D., from a cease and desist order dated Feb. 25, 2010. www.ncua.gov/News/Pages/NW20140225RapidCityTelco.aspx

February 25, 2014 - NCUA - Metsger: Meeting Members’ Needs Is the Standard of Success for Credit Unions - The success of a credit union, and of the credit union movement, is measured by how well millions of members are being served, NCUA Board Member Rick Metsger said today.
www.ncua.gov/News/Pages/NW20140225MetsgerGAC.aspx

February 25, 2014 - NCUA - Fryzel Tells Credit Unions, “Make No Little Plans” When Facing Future Challenges - NCUA Board Member Michael E. Fryzel told more than 4,000 credit union industry representatives to think broadly and boldly when facing challenges that lie ahead and draw on the movement’s traditions and experience to better serve its members. www.ncua.gov/News/Pages/NW20140225FryzelGAC.aspx

February 25, 2014 - OCC Reports Community Banks and Thrifts in Iowa, Nebraska and South Dakota Recover to Pre-Downturn Performance Levels; Agricultural Banks Positive - The Office of the Comptroller of the Currency today reported that community national banks and federal savings associations in Iowa, Nebraska and South Dakota have recovered from the effects of the financial crisis and economic downturn, with the vast majority of the 87 OCC-supervised institutions in those states receiving the agency’s highest ratings. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-24.html

February 25, 2014 - St. Louis Fed Appoints Three New Members to Community Depository Institutions Advisory Council - The Federal Reserve Bank of St. Louis has appointed three new members to its Community Depository Institutions Advisory Council, which meets twice a year to advise St. Louis Fed President James Bullard on the credit, banking and economic conditions facing their institutions and their communities. www.stlouisfed.org/newsroom/displayNews.cfm?article=2086

February 25, 2014 - Interagency Consumer Compliance Examination Procedures for Mortgage Rules Pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act - The FDIC has released revised interagency consumer compliance examination procedures for the mortgage rules issued pursuant to the Dodd-Frank Act. www.fdic.gov/news/news/financial/2014/fil14009.pdf

February 25, 2014 - FDIC Consumer Newsletter Features Tips on Choosing and Using Credit Cards - Credit cards are an important part of many consumers' financial lives, but it helps to understand how to make the most of these products and avoid potential pitfalls.  www.fdic.gov/news/news/press/2014/pr14011.html

February 25, 2014 - Governor Daniel K. Tarullo - Monetary Policy and Financial Stability - At the 30th Annual National Association for Business Economics Economic Policy Conference, Arlington, Virginia.  www.federalreserve.gov/newsevents/speech/tarullo20140225a.htm

February 25, 2014 - Minutes of the Board's discount rates meeting from January 27, 2014.   www.federalreserve.gov/newsevents/press/monetary/monetary20140225a1.pdf

February 25, 2014 - Federal Reserve Board announces release dates for the latest supervisory stress tests results and related results from the Comprehensive Capital Analysis and Review.  www.federalreserve.gov/newsevents/press/bcreg/20140225a.htm

February 25, 2014 - Federal Reserve Board announces termination of enforcement actions with Hampton Roads Bankshares, Inc., Bank of Hampton Roads, and Metropolitan Bank Holding Corporation.  www.federalreserve.gov/newsevents/press/enforcement/20140225a.htm

February 24, 2014 - Economic Growth Slowed in January - The Chicago Fed National Activity Index was –0.39 in January, down from
–0.03 in December. - Led by declines in production-related indicators, the Chicago Fed National Activity Index decreased to –0.39 in January from –0.03 in December.  www.chicagofed.org/digital_assets/publications/cfnai/2014/cfnai_february2014.pdf

February 24, 2014 - NCUA - Matz: “Working Together, We Will Be Ready” - NCUA Board Chairman Warns of Interest Rate Risk and Cybersecurity Threats - The credit union industry turned the corner in 2013, but interest rate risk and cybersecurity threats pose major challenges, National Credit Union Administration Board Chairman Debbie Matz said today in a keynote speech to the Credit Union National Association’s annual Governmental Affairs Conference. www.ncua.gov/News/Pages/NW20140224MatzSpeech.aspx

February 24, 2014 - OCC Supports America Saves Week - Comptroller of the Currency Thomas J. Curry today issued the following statement in recognition of America Saves Week, February 24 – March 1, 2014.  www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-23.html
 
February 24, 2014 - Kansas City Fed announces advisory council appointments - The Federal Reserve Bank of Kansas City recently announced the following appointments to its Community Depository Institutions Advisory Council. The council, which was established in 2011, provides input to the Bank and its senior management on the economy, lending conditions and other issues. www.kc.frb.org/publicat/newsroom/2014pdf/Press.Release.02.24.14.pdf

February 24, 2014 - Leadership announcement and membership changes announced for ?San Francisco Federal Reserve’s Economic Advisory Council - The Federal Reserve Bank of San Francisco announced that Alfred A. Plamann, retired CEO of Unified Grocers, Inc., and Tracey C. Doi, group vice president and CFO of Toyota Motor Sales, USA, Inc., were reappointed as chair and vice chair of the Federal Reserve Bank of San Francisco’s Economic Advisory Council for 2014. Both joined the EAC in 2009. www.frbsf.org/our-district/press/news-releases/2014/federal-reserve-san-francisco-economic-advisory-council-leadership-membership/

February 24, 2014 - Federal Reserve Board to begin publishing semi-annual report with aggregate data and other information regarding banking applications.   www.federalreserve.gov/newsevents/press/bcreg/20140224a.htm

February 21, 2014 - NCUA - Matz: America and Military Saves Week a “Great Opportunity” for Member Education - “An educated consumer is better prepared to make sound financial choices, build savings and find greater financial peace-of-mind,” National Credit Union Administration Board Chairman Debbie Matz said today. www.ncua.gov/News/Pages/NW20140220AmericaSaves.aspx

February 21, 2014 - NCUA - Fryzel Highlights Second Federal Credit Union’s Immigration Loan Program - Calling it a unique and responsive idea, National Credit Union Administration Board Member Michael E. Fryzel said that Second Federal Credit Union, a division of Self-Help Federal Credit Union based in Chicago’s Hispanic community, has once again shown how credit unions respond to their members’ specialized needs. www.ncua.gov/News/Pages/NW20140221Fryzel.aspx

February 21, 2014 - 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. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-22.html

February 21, 2014 - Agencies Permit Certain Banking Organizations to Begin Using Advanced Approaches Framework to Determine Risk-Based Capital Requirements,  www.occ.gov/news-issuances/news-releases/2014/nr-ia-2014-21.html

February 21, 2014 - Payment Systems - Data updates: Payments of Currency to Circulation, Receipts of Currency from Circulation.   www.federalreserve.gov/paymentsystems/coin_data.htm

February 21, 2014 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

February 21, 2014 - Federal Open Market Committee - 2008 FOMC meeting transcripts and presentation materials.   www.federalreserve.gov/monetarypolicy/fomchistorical2008.htm

February 21, 2014 - Federal Reserve plans to conduct a series of seven-day term deposit operations in March under the Term Deposit Facility - The Federal Reserve plans to conduct a series of seven-day term deposit operations in March under the Term Deposit Facility as part of the ongoing program of small-value offerings announced on September 8, 2010.  www.federalreserve.gov/newsevents/press/monetary/20140221a.htm

February 21, 2014 - Agencies permit certain banking organizations to begin using advanced approaches framework to determine risk-based capital requirements www.federalreserve.gov/newsevents/press/bcreg/20140221a.htm
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February 20, 2014 - OCC Releases CRA Evaluations for 42 National Banks and Federal Savings Associations - The Office of the Comptroller of the Currency today released a list of Community Reinvestment Act performance evaluations that became public during the period of September 1, 2013 through September 30, 2013. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-20.html

February 20, 2014 - Financial Market Stress Registers Largest Decrease in Four Months - Financial market stress eased in the latest reporting week according to the St. Louis Fed’s Financial Stress Index. For the week ending Feb. 14, 2014, the STLFSI measured -0.970, its first decline in four weeks and the largest one-week decline since the week ending Oct. 18, 2013. www.stlouisfed.org/newsroom/displayNews.cfm?article=2090

February 20, 2014 - Statistical Release - Finance Companies - G.20.  www.federalreserve.gov/releases/g20/Current/

February 20, 2014 - NCUA - February 2014 Board Meeting: NCUA’s Share Insurance Fund Continues Positive Trends - The National Credit Union Administration Board convened its second scheduled open meeting of 2014 at the agency’s headquarters here today.  www.ncua.gov/about/Pages/Board%20Actions/BAB20140220.aspx

February 20, 2014 - NCUA - Matz Plans New Series of “Listening Sessions” on Wide Range of Topics - National Credit Union Administration Board Chairman Debbie Matz today announced plans to host three “Listening Sessions” across America in June and July. www.ncua.gov/News/Pages/NW20140220ListeningSessions.aspx

February 19, 2014 - Market Structure, Incentives, and Fragility - Chicago Fed Letter explores factors that have contributed to growth of high-speed trading, including competition, technology, and regulation. www.chicagofed.org/digital_assets/publications/chicago_fed_letter/2014/cflmarch2014_320.pdf

February 19, 2014 - Office of the Comptroller of the Currency Hosts Workshops in Richmond - The Office of the Comptroller of the Currency will host two workshops in Richmond, Va., at the Omni Richmond Hotel, March 25-26, for directors of national community banks and federal savings associations. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-19.html

February 19, 2014 - Payment Systems - National Settlement Service - Quarterly and Annual Data Updates.   www.federalreserve.gov/paymentsystems/natl_data.htm

February 19, 2014 - Payment Systems - Fedwire Securities Services - Quarterly and Annual Data Updates.   www.federalreserve.gov/paymentsystems/fedsecs_data.htm

February 19, 2014 - Payment Systems - Fedwire Funds Services - Quarterly and Annual Data Updates.   www.federalreserve.gov/paymentsystems/fedfunds_data.htm

February 19, 2014 - The Interplay Between Student Loans and Credit Card Debt: Implications for Default in the Great Recession - Felicia Ionescu and Marius Ionescu - We analyze the interactions between two different forms of unsecured credit and their implications for default behavior of young U.S. households. One type of credit mimics credit cards in the United States and the default option resembles a bankruptcy filing under Chapter 7; the other type of credit mimics student loans in the United States and the default option resembles Chapter 13. www.federalreserve.gov/pubs/feds/2014/201414/201414pap.pdf

How Well Did Social Security Mitigate the Effects of the Great Recession? - William B. Peterman and Kamila Sommer - This paper quantifies the welfare implications of the U.S. Social Security program during the Great Recession.  www.federalreserve.gov/pubs/feds/2014/201413/201413pap.pdf 

February 19, 2014 - A Few Thoughts on the Recent Deceleration of Student Loan Debt - While the amount of student loan debt outstanding has continued to rise in recent quarters, its rate of growth has slowed recently--from more than 12 percent over the four quarters ending in the second quarter of 2012 to a pace of 8-1/4 percent in 2013.  www.federalreserve.gov/econresdata/notes/feds-notes/2014/a-few-thoughts-on-the-recent-deceleration-of-student-loan-debt-20140219.html

February 19, 2014 - Minutes of the Federal Open Market Committee, January 28-29, 2014.   www.federalreserve.gov/newsevents/press/monetary/20140219a.htm

February 18, 2014 - NCUA Permanent Funds Earn Clean Audit Opinions for 2013 - The National Credit Union Administration’s four permanent funds have received unmodified, or “clean,” audit opinions for 2013, according to audited financial reports released today by the agency. www.ncua.gov/News/Pages/NW20140218Audits.aspx

February 18, 2014 - NCUA - The NCUA Report for February 2014 Now Available.  www.ncua.gov/News/NewsLtrs/Pages/default.aspx

February 18, 2014 - FDIC Extends Public Comment Period for Single Point of Entry Resolution Strategy - The Federal Deposit Insurance Corporation has extended the comment period by 30 days for the Single Point of Entry strategy for the resolution of Systemically Important Financial Institutions.   http://www.fdic.gov/news/news/press/2014/pr14010.html

February 18, 2014 - FDIC Encourages Consumers to Develop a Plan to Save Toward Their Goals - The Federal Deposit Insurance Corporation is encouraging consumers to use America Saves Week as a time to begin or continue saving towards financial goals they have set for themselves.   www.fdic.gov/news/news/press/2014/pr14009.html

February 18, 2014 - Charge-Off and Delinquency Rates on Loans and Leases at Commercial Banks.  www.federalreserve.gov/releases/chargeoff/default.htm

February 18, 2014 - 18 Payment Systems - Check Services - Quarterly Data Update.  www.federalreserve.gov/paymentsystems/check_data.htm

February 18, 2014 - Payment Systems - Automated Clearinghouse Services - Quarterly Data Update.  www.federalreserve.gov/paymentsystems/fedach_data.htm

February 18, 2014 - Federal Reserve Board approves final rule strengthening supervision and regulation of large U.S. bank holding companies and foreign banking organizations.  www.federalreserve.gov/newsevents/press/bcreg/20140218a.htm

February 14, 2014 - St. Francis Campus Credit Union Closes, Shares Assumed by Central Minnesota Credit Union - The Minnesota Department of Commerce today appointed the National Credit Union Administration as receiver of St. Francis Campus Credit Union of Little Falls, Minn. As the receiver, NCUA will act as the liquidating agent, and Central Minnesota Credit Union of Melrose, Minn., has immediately assumed St. Francis Campus Credit Union’s members, assets, shares and loans. www.ncua.gov/News/Pages/NW20140214StFrancis.aspx

February 14, 2014 - Growth in Midwest Farmland Values Moderating - Latest AgLetter reports farmland values for 2013 increased 5 percent from the previous year in the Seventh Federal Reserve District. www.chicagofed.org/digital_assets/publications/agletter/2010_2014/february_2014.pdf

February 14, 2014 - Membership Appointments Announced for the Federal Reserve Bank of San Francisco’s Community Depository Institutions Advisory Council.  www.frbsf.org/our-district/press/news-releases/2014/membership-appointments-community-depository-institutions-advisory-council/

February 14, 2014 - St. Louis Fed President James Bullard Will Speak at St. Louis Forum Luncheon.  www.stlouisfed.org/newsroom/displayNews.cfm?article=2084

February 14, 2014 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

February 14, 2014 - Statistical Release - Industrial Production and Capacity Utilization - G.17 - Industrial production decreased 0.3 percent in January after having risen 0.3 percent in December.  www.federalreserve.gov/releases/g17/current/default.htm

February 14, 2014 - Federal Reserve Board announces termination of enforcement action with First Security Bank of Malta.   www.federalreserve.gov/newsevents/press/enforcement/20140214a.htm 
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February 13, 2014 - NCUA January Board Meeting Video Now Available Online - The video recording of the January open meeting of the Board of the National Credit Union Administration is now available on the agency’s website. www.ncua.gov/News/Pages/NW20140213BoardVideo.aspx

February 13, 2014 - Financial Market Stress Rises for Third Straight Week - Financial market stress increased for the third consecutive week according to the St. Louis Fed Financial Stress Index. For the week ending Feb. 7, 2014, the STLFSI measured -0.843, its high-est level in a little more than two months. www.stlouisfed.org/newsroom/displayNews.cfm?article=2082

February 13, 2014 - St. Louis Fed Ag Survey Shows Farm Income and Farmland Prices Increased In the Fourth Quarter of 2013 - Farm income increased in the fourth quarter of 2013, according to the latest Agricultural Finance Monitor, published by the Federal Reserve Bank of St. Louis. Likewise, quality farmland prices in the fourth quarter were also up from a year earlier. www.stlouisfed.org/newsroom/displayNews.cfm?article=2083

February 12, 2014 - NCUA - Small Credit Unions’ Success Stories Highlighted in New NCUA Video - The National Credit Union Administration today released a new video, “Small Credit Unions + Service = Success,” describing the positive impact small credit unions can have on their communities. www.ncua.gov/News/Pages/NW20140212Video.aspx

February 12, 2014 - NCUA - JPMorgan Chase Settlement Reduces Chance of Future Corporate Assessments - NCUA Recoveries Improve Outlook for Corporate Stabilization Fund - Credit unions are much less likely to be charged another assessment by the Temporary Corporate Credit Union Stabilization Fund, as a result of significant recoveries from legal settlements and strong asset management, the National Credit Union Administration announced today. www.ncua.gov/News/Pages/NW20140212Assessments.aspx

February 12, 2014 - OCC Releases CRA Evaluations for 26 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 August 1, 2013 through August 31, 2013. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-18.html

February 12, 2014 - Office of the Comptroller of the Currency Hosts Denver Workshop for New and Experienced Bank Directors - The Office of the Comptroller of the Currency will host a workshop in Denver at the Sheraton Denver Downtown, March 31-April 2, for directors of national community banks and federal savings associations. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-17.html

February 12, 2014 - St. Louis Fed President James Bullard Will Speak at Exchequer Club Luncheon.  www.stlouisfed.org/newsroom/displayNews.cfm?article=2081

February 12, 2014 - Federal Reserve seeks comment on repealing its Regulations DD and P and amending Regulation V.   www.federalreserve.gov/newsevents/press/bcreg/20140212a.htm

February 11, 2014 - A History of Large-scale Asset Purchases before the Fed - This Economic Perspectives article finds that in 1870–1913, the U.S. Treasury Department's large open market purchases of Treasury securities narrowed the yield spread between Treasury bonds with high and low interest rate risk. www.chicagofed.org/digital_assets/publications/economic_perspectives/2013/4Q2013_part2_chabot_herman.pdf

February 11, 2014 - Report to the Congress - Monetary Policy Report - The Federal Reserve Act requires the Federal Reserve Board to submit written reports to Congress containing discussions of "the conduct of monetary policy and economic developments and prospects for the future." www.federalreserve.gov/monetarypolicy/mpr_default.htm

February 11, 2014 - Chair Janet L. Yellen - Semiannual Monetary Policy Report to the Congress - Before the Committee on Financial Services, U.S. House of Representatives, Washington, D.C. www.federalreserve.gov/newsevents/testimony/yellen20140211a.htm

February 11, 2014 - Federal Reserve Board announces termination of enforcement action with First Trust Corporation.   www.federalreserve.gov/newsevents/press/enforcement/20140211a.htm

February 10, 2014 - Payment Systems - Currency and Coin Services Data.  www.federalreserve.gov/paymentsystems/coin_data.htm

February 10, 2014 - Community Banks Remain Important for Many Businesses and Farms - Chicago Fed Letter highlights importance of community banks to the communities they serve and the health of the economy. http://www.chicagofed.org/digital_assets/publications/chicago_fed_letter/2014/cflfebruary2014_319a.pdf


February 7, 2014 - OCC Hosts Risk Assessment and Compliance Risk Workshops in Texas - The Office of the Comptroller of the Currency will host two workshops in Houston at the Hilton Houston Post Oak, March 11-12, for directors of national community banks and federal savings associations. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-16.html

February 7, 2014 - Paying Agent Notification Requirements - On January 23, 2013, the Securities and Exchange Commission amended Exchange Act Rule 17Ad-17 to implement the requirements of Section 929W of the Dodd-Frank Wall Street Reform and Consumer Protection Act, Pub. L. 111-203. www.fdic.gov/news/news/financial/2014/fil14008.pdf

February 7, 2014 - Statistical Release - Consumer Credit - G.19 - Consumer credit increased at a seasonally adjusted annual rate of 6-1/2 percent during the fourth quarter. Revolving credit increased at an annual rate of 4-1/2 percent, while nonrevolving credit increased 7-1/4 percent. In December, consumer credit increased at an annual rate of 7-1/4 percent. www.federalreserve.gov/releases/g19/current/default.htm

February 7, 2014 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm
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February 6, 2014 - Comptroller of the Currency Testifies on the Implementation of the Dodd-Frank Act - Comptroller of the Currency Thomas J. Curry today discussed what the Office of the Comptroller of the Currency is doing to improve the security of consumer financial information held by national banks and federal savings associations, to implement the Dodd-Frank Consumer Protection and Wall Street Reform Act, and to improve its supervisory processes during testimony before the U.S. Senate Committee on Banking, Housing and Urban Affairs. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-15.html

February 6, 2014 - Financial Market Stress Rises for Second Straight Week - Financial market stress rose modestly for the second consecutive week according to the St. Louis Fed Financial Stress Index. For the week ending Jan. 31, 2014, the STLFSI measured -0.869. This was a modest increase from the previous week (-0.970) and from two weeks earlier (-1.027). www.stlouisfed.org/newsroom/displayNews.cfm?article=2078

February 6, 2014 - How the Federal Reserve's Large-Scale Asset Purchases Influence Mortgage-Backed Securities Yields and U.S. Mortgage Rates - Diana Hancock and Wayne Passmore - We conduct an empirical analysis of the Federal Reserve's large-scale asset purchases on MBS yields and mortgage rates.  www.federalreserve.gov/pubs/feds/2014/201412/201412pap.pdf

February 6, 2014 - Governor Daniel K. Tarullo - Dodd-Frank Implementation - Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate, Washington, D.C. www.federalreserve.gov/newsevents/testimony/tarullo20140206a.htm

February 5, 2014 - Financial Conditions Edge Tighter in Early 2014 - The NFCI increased from –0.94 to –0.88 over the course of January, while the ANFCI continued to indicate that financial conditions are somewhat more lax than would typically be suggested by current economic conditions. www.chicagofed.org/webpages/publications/nfci/index.cfm   

February 5, 2014 - Comptroller of the Currency Testifies on the Volcker Rule - Comptroller of the Currency Thomas J. Curry discussed the Volcker Rule in testimony today before the House Committee on Financial Services. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-14.html

February 5, 2014 - Media Advisory - St. Louis Fed President James Bullard Will Speak at European-American Chamber of Commerce Annual Economic Update.  www.stlouisfed.org/newsroom/displayNews.cfm?article=2077

February 5, 2014 - The Interest Rate Elasticity of Mortgage Demand: Evidence From Bunching at the Conforming Loan Limit - Anthony A. DeFusco and Andrew Paciorek - The relationship between the mortgage interest rate and a household's demand for mortgage debt has important implications for a host of public policy questions. www.federalreserve.gov/pubs/feds/2014/201411/201411pap.pdf

February 5, 2014 - Peer-to-peer lending to small businesses - Traci L. Mach, Courtney M. Carter, and Cailin R. Slattery - The current paper examines loan-level data from Lending Club to look at peer-to-peer borrowing by small businesses. We begin by looking at characteristics of loan applications that were and were not funded and then take a more in-depth look at funded applications. www.federalreserve.gov/pubs/feds/2014/201410/201410pap.pdf

February 5, 2014 - Federal Reserve Budget - 2014 Federal Reserve Board Budget.  www.federalreserve.gov/foia/readingrooms.htm#frbbudget

February 4, 2014 - Governor Daniel K. Tarullo - Volcker Rule - Before the Committee on Financial Services, U.S. House of Representatives, Washington, D.C. www.federalreserve.gov/newsevents/testimony/tarullo20140205a.htm

February 4, 2014 - Fed’s Evans Addresses Detroit Business Leaders - Chicago Fed President Charles Evans talked about monetary policy and financial system safeguards on February 4 during a Detroit Economic Club luncheon in Michigan. www.chicagofed.org/webpages/publications/speeches/2014/02_04_14_detroit_economic_club_monetary_policy_macroprudential_safeguards.cfm

February 4, 2014 - NCUA - Registration is still open for a free town hall webinar with National Credit Union Administration Board Chairman Debbie Matz and her guest Richard Cordray, Director of the Consumer Financial Protection Bureau, on Wednesday, Feb. 12, beginning at 3 p.m. Eastern.  www.ncua.gov/News/Pages/NW20140204TownHall.aspx

February 4, 2014 - Recordkeeping and Confirmation Requirements for Securities Transactions - On December 10, 2013, the FDIC approved a Final Rule amending 12 C.F.R. Part 344 to establish uniform recordkeeping and confirmation requirements for all FDIC-supervised institutions.  www.fdic.gov/news/news/financial/2014/fil14007.pdf

February 4, 2014 - 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/2014/pr14008.html

February 4, 2014 - Federal Reserve Banks laud industry response to consultation paper and highlight next steps - Federal Reserve Bank leadership lauded the feedback received from payment system participants to the "Payment System Improvement--Public Consultation Paper," noting that more than half the nearly 200 responses came from non-banks. www.federalreserve.gov/newsevents/press/other/20140204a.htm
 
February 3, 2014 - NCUA- Updated NCUA Share Insurance Booklet Now Available for Order and Download - The National Credit Union Administration today released the latest version of the Your Insured Funds booklet, providing consumers and credit unions with the latest share insurance coverage information in a new, easy-to-read format. www.ncua.gov/News/Pages/NW20140203ShareInsuranceBookleet.aspx

February 3, 2014 - Susan Sutherland to Lead the Federal Reserve Bank of San Francisco’s Seattle Branch Office - Susan Sutherland will be expanding her responsibilities to include oversight of the Seattle Branch Office and its board of directors, effective March 1, 2014.  www.frbsf.org/our-district/press/news-releases/2014/sutherland-leadership-federal-reserve-bank-san-francisco-seattle-branch/

February 3, 2014 - FRED Adds 54,000 Sector-Level Employment Data Series from the BLS - The St. Louis Federal Reserve’s premier economic database, FRED, has added 54,000 economic data series. These data come from the Bureau of Labor Statistics’ State and Area Earnings, Hour and Earnings database. www.stlouisfed.org/newsroom/displayNews.cfm?article=1868

February 3, 2014 - Human Capital and Unemployment Dynamics: Why More Educated Workers Enjoy Greater Employment Stability - Isabel Cairo and Tomaz Cajner - Why do more educated workers experience lower unemployment rates and lower employment volatility?  www.federalreserve.gov/pubs/feds/2014/201409/201409pap.pdf

February 3, 2014 - Corporate Governance and Risk Management at Unprotected Banks: National Banks in the 1890s - Charles W. Calomiris and Mark A. Carlson - Managers' incentives may conflict with those of shareholders or creditors, particularly at leveraged, opaque banks. Bankers may abuse their control rights to give themselves excessive salaries, favored access to credit, or to take excessive risks that benefit themselves at the expense of depositors. www.federalreserve.gov/pubs/feds/2014/201408/201408pap.pdf

February 3, 2014 - Surveys and Reports - Senior Loan Officer Opinion Survey on Bank Lending Practices, January 2014 - The January 2014 Senior Loan Officer Opinion Survey on Bank Lending Practices addressed changes in the standards and terms on, and demand for, bank loans to businesses and households over the past three months. www.federalreserve.gov/boarddocs/snloansurvey/201402/fullreport.pdf

February 3, 2014 - Federal Reserve announces approval of application by Wing Lung Bank Ltd. - The Federal Reserve Board on Monday announced its approval of the application of Wing Lung Bank Ltd., Hong Kong SAR, People’s Republic of China, to establish branches in San Francisco and Alhambra, both in California. www.federalreserve.gov/newsevents/press/orders/orders20140113a1.pdf

February 3, 2014 - Janet L. Yellen sworn in as chair of the Board of Governors of the Federal Reserve System - Janet L. Yellen on Monday took the oath of office as Chair of the Board of Governors of the Federal Reserve System. The oath was administered by Governor Daniel K. Tarullo in the Board Room. www.federalreserve.gov/newsevents/press/other/20140203a.htm