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February 28, 2019 - The Recent Rise in Health Care Inflation By Diane Alexander - Health care services inflation was consistently at or above 3% per year in the early 2000s, declined from around 3% at the end of the 2000s to under 1% in 2015, and then rebounded to just under 2% in early 2018. www.chicagofed.org/publications/chicago-fed-letter/2018/407 February 28, 2019 - A New “Big Data” Index of U.S. Economic Activity By Scott A. Brave , R. Andrew Butters , David Kelley - Central banks around the globe are commonly charged with the responsibility of producing timely predictions of the current state of the economy in the course of conducting monetary policy. www.chicagofed.org/publications/economic-perspectives/2019/1 February 28, 2019 - NCUA Issues Prohibition Order - The National Credit Union Administration issued one prohibition order in February. This individual is prohibited from participating in the affairs of any federally insured financial institution. www.ncua.gov/newsroom/press-release/2019/ncua-issues-prohibition-order-0 February 28, 2019 - The Economic Effects of the Marijuana Industry in Colorado - By Alison Felix Economist and Branch Executive Federal Reserve Bank of Kansas City – Denver Branch. www.kansascityfed.org/~/media/files/publicat/speeches/2019/2019-felix-naee-02-28.pdf February 28, 2019 - FDIC Issues CRA Examination Schedules for Second Quarter 2019 and Third Quarter - The Federal Deposit Insurance Corporation today issued the lists of institutions scheduled for a Community Reinvestment Act examination during the second quarter of 2019 and third quarter of 2019. www.fdic.gov/news/news/press/2019/pr19012.html February 28, 2019 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at on February 28, 2019. Matter(s) considered: Periodic Supervisory Update. www.federalreserve.gov/aboutthefed/boardmeetings/20190228closed.htm February 28, 2019 - Supervisory Rating System for Holding Companies with Total Consolidated Assets Less Than $100 billion - The purpose of this letter is to clarify which rating system applies to holding companies with total consolidated assets less than $100 billion, given the adoption of a rating system for large financial institutions. www.federalreserve.gov/supervisionreg/srletters/sr1904.htm February 28, 2019 - Large Financial Institution Rating System - This letter provides an overview of the new rating system for the supervision of large financial institutions. This "LFI rating system" would replace the current bank holding company rating system (referred to as the "RFI rating system") for these firms. www.federalreserve.gov/supervisionreg/srletters/sr1903.htm February 28, 2019 - Speech by Vice Chair Clarida on U.S. economic outlook and monetary policy At "Promoting Global Growth and Domestic Economic Security," 35th Annual NABE Economic Policy Conference, Washington, D.C. www.federalreserve.gov/newsevents/speech/clarida20190228a.htm February 28, 2019 - Federal Reserve Board issues enforcement actions with Wintrust Financial Corporation and former employee of OakStar Bank and announces termination of enforcement action with FCB Financial Corporation. www.federalreserve.gov/newsevents/pressreleases/enforcement20190228a.htm February 27, 2019 - Who is Being Trained in Economics? A New Interactive Website for Exploring the Race, Ethnicity, and Gender of Economics Majors at U.S. Colleges and Universities Amanda Bayer, Bo Yeon Jang, and David Wilcox - Women, African Americans, Hispanics, Native Americans, and other groups are greatly underrepresented in the field of economics. www.federalreserve.gov/econres/notes/feds-notes/new-interactive-website-exploring-race-ethnicity-gender-of-economics-majors-at-us-colleges-universities-20190227.htm February 27, 2019 - OCC Issues Second and Third Quarter 2019 CRA Evaluation Schedule - The Office of the Comptroller of the Currency today released its schedule of Community Reinvestment Act evaluations to be conducted in the second and third quarters of 2019. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-22.html February 27, 2019 - The Federal Reserve Board announces approval of application by WSFS Financial Corporation - The Federal Reserve Board on Wednesday announced its approval of the application under section 10(e) of the Home Owners' Loan Act by WSFS Financial Corporation, Wilmington, Delaware, to acquire Beneficial Bancorp, Inc. and thereby indirectly acquire Beneficial Bank, both of Philadelphia, Pennsylvania. www.federalreserve.gov/newsevents/pressreleases/orders20190227a.htm February 26, 2019 - Advanced Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System will be held under expedited procedures at 10:00 a.m. on February 28, 2019. Matter(s) considered: Periodic Supervisory Update. www.federalreserve.gov/aboutthefed/boardmeetings/20190228closed.htm February 26, 2019 - Testimony by Chairman Jerome H. Powell - Semiannual Monetary Policy Report to the Congress Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate, Washington, D.C. www.federalreserve.gov/newsevents/testimony/powell20190226a.htm February 26, 2019 - Minutes of the Board's discount rate meetings on January 22 and January 30, 2019. www.federalreserve.gov/newsevents/pressreleases/monetary20190226a.htm February 25, 2019 - Chicago Fed National Activity Index Points to Slower Economic Growth in January - Led by declines in production-related indicators, the Chicago Fed National Activity Index fell to –0.43 in January from +0.05 in December. www.chicagofed.org/~/media/publications/cfnai/2019/cfnai-february2019-pdf.pdf February 25, 2019 - NCUA - January 2019 NCUA Board Meeting Video Available - The video recording of the Jan. 17, 2019, open meeting of the National Credit Union Administration Board is now available on the agency’s website. www.ncua.gov/newsroom/press-release/2019/january-2019-ncua-board-meeting-video-available February 25, 2019 - Implementation of the Current Expected Credit Losses Standard: Final Rule - On February 14, 2019, the Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System, and Federal Deposit Insurance Corporation published a final rule in the Federal Register to implement the Financial Accounting Standards Board’s Accounting Standards Update 2016-13, “Financial Instruments—Credit Losses,” in the agencies’ rules. www.occ.treas.gov/news-issuances/bulletins/2019/bulletin-2019-10.html February 25, 2019 - Volcker Rule: Notice of Proposed Rulemaking - On February 8, 2019, the Office of the Comptroller of the Currency, the Federal Reserve Board, the Commodity Futures Trading Commission, the Federal Deposit Insurance Corporation, and the Securities and Exchange Commission published a notice of proposed rulemaking in the Federal Register to implement amendments to section 13 of the Bank Holding Company Act, commonly known as the Volcker Rule, contained in sections 203 and 204 of the Economic Growth, Regulatory Relief, and Consumer Protection Act. www.occ.treas.gov/news-issuances/bulletins/2019/bulletin-2019-9.html February 25, 2019 - OCC Hosts Ohio Workshop for Board Directors and Bank Management - The Office of the Comptroller of the Currency will host a workshop in Cincinnati, Ohio, at the Kingsgate Hotel and Conference Center, April 9-10, for directors, senior management team members, and other key executives of national community banks and federal savings associations supervised by the OCC. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-21.html February 25, 2019 - Payment Systems - Check Services, Quarterly and Annual Data. www.federalreserve.gov/paymentsystems/check_data.htm February 25, 2019 - Payment Systems - Automated Clearinghouse Services, Quarterly and Annual Data. www.federalreserve.gov/paymentsystems/fedach_data.htm February 25, 2019 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at 11:15 a.m. on February 25, 2019. Matter(s) considered: Review and determination by the Board of Governors of the advance and discount rates to be charged by the Federal Reserve Banks. www.federalreserve.gov/aboutthefed/boardmeetings/20190225closed.htm February 22, 2019 - OCC Issues Cease and Desist Order Against MUFG Bank, Ltd., for Violating the Bank Secrecy Act - The Office of the Comptroller of the Currency today announced a cease and desist order against the New York, Chicago, and Los Angeles federal branches of MUFG Bank, Ltd., Tokyo, Japan, for violating the Bank Secrecy Act and its underlying regulations. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-20.html February 22, 2019 - St. Louis Fed's Bullard Weighs the Impact of Quantitative Tightening - Federal Reserve Bank of St. Louis President James Bullard on Friday offered his views on the future of the Federal Reserve’s balance sheet at the 2019 U.S. Monetary Policy Forum hosted by the University of Chicago’s Booth School of Business. www.stlouisfed.org/news-releases/2019/02/22/bullard-weighs-impact-quantitative-tightening February 22, 2019 - Prepaid Accounts Rule: Interagency Consumer Compliance Examination Procedures - The FDIC adopted revised interagency examination procedures to incorporate the Consumer Financial Protection Bureau's amendments to Regulation E and Regulation Z. www.fdic.gov/news/news/financial/2019/fil19009.html February 22, 2019 - FDIC Encourages Consumers to Set Financial Goals and Learn More about Options for Saving - The Federal Deposit Insurance Corporation encourages consumers to use America Saves Week as an opportunity to evaluate their short- and long-term financial goals and learn more about how banks can help achieve them. www.fdic.gov/news/news/press/2019/pr19011.html February 22, 2019 - FDIC Makes Public January Enforcement Actions - The Federal Deposit Insurance Corporation today released a list of orders of administrative enforcement actions taken against banks and individuals in January. There are no administrative hearings scheduled for March 2019. www.fdic.gov/news/news/press/2019/pr19010.html February 22, 2019 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm February 22, 2019 - Report to 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 22, 2019 - Speech by Vice Chairman for Supervision Quarles on the future of the Federal Reserve's balance sheet At the 2019 U.S. Monetary Policy Forum, sponsored by the Initiative on Global Markets at the University of Chicago Booth School of Business, New York, New York. www.federalreserve.gov/newsevents/speech/quarles20190222a.htm February 22, 2019 - Speech by Vice Chair Clarida on the Federal Reserve's review of its monetary policy strategy, tools, and communication practices At the 2019 U.S. Monetary Policy Forum, sponsored by the Initiative on Global Markets at the University of Chicago Booth School of Business, New York, New York. www.federalreserve.gov/newsevents/speech/clarida20190222a.htm February 21, 2019 - Loans in Areas Having Special Flood Hazards—Private Flood Insurance: Final Rule - The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Farm Credit Administration, and the National Credit Union Administration have issued a final rule that implements the private flood insurance provisions of the Biggert-Waters Flood Insurance Reform Act of 2012. www.occ.treas.gov/news-issuances/bulletins/2019/bulletin-2019-8.html February 21, 2019 - FDIC-Insured Institutions Report Net Income of $59.1 Billion in Fourth Quarter 2018. www.fdic.gov/news/news/press/2019/pr19009.html February 21, 2019 - Advanced Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System will be held under expedited procedures at 11:30 a.m. on February 25, 2019. Matter(s) considered: Review and determination by the Board of Governors of the advance and discount rates to be charged by the Federal Reserve Banks. www.federalreserve.gov/recentpostings.htm February 21, 2019 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at on February 21, 2019. Matter(s) considered: Periodic Briefing and Discussion on Financial Markets, Institutions, and Infrastructure. Bank Supervisory Matter. www.federalreserve.gov/aboutthefed/boardmeetings/20190221closed.htm February 21, 2019 - Statistical Release - Large Commercial Banks - The Federal Reserve Board compiles quarterly data on domestically chartered insured commercial banks that have consolidated assets of $300 million or more and releases the data about twelve weeks after the end of each quarter. www.federalreserve.gov/releases/lbr/ February 21, 2019 - Federal Reserve Board permanently bars former employee of J.P. Morgan Chase & Co. from the banking industry. www.federalreserve.gov/newsevents/pressreleases/enforcement20190221a.htm February 20, 2019 - Minutes of the Federal Open Market Committee, January 29-30, 2019. www.federalreserve.gov/newsevents/pressreleases/monetary20190220a.htm _________________________ February 19, 2019 - Advanced Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System will be held under expedited procedures at 1:00 p.m. on February 21, 2019. Matter(s) considered: Periodic Briefing and Discussion on Financial Markets, Institutions, and Infrastructure. Bank Supervisory Matter. www.federalreserve.gov/aboutthefed/boardmeetings/20190221closed.htm February 19, 2019 - Charge-Off and Delinquency Rates on Loans and Leases at Commercial Banks. www.federalreserve.gov/releases/chargeoff/ February 19, 2019 - Finance Companies - G.20. www.federalreserve.gov/releases/g20/current/g20.htm February 19, 2019 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at on February 19, 2019. Matter(s) considered: Proposed Semiannual Monetary Policy Report and Statement to the Congress. www.federalreserve.gov/aboutthefed/boardmeetings/20190219closed.htm February 19, 2019 - Over-the-Counter Market Liquidity and Securities Lending - Nathan Foley-Fisher, Stefan Gissler, and St�phane Verani - This paper studies how over-the-counter market liquidity is affected by securities lending. www.federalreserve.gov/econres/feds/files/2019011pap.pdf February 15, 2019 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm February 15, 2019 - Federal Reserve Board extends comment period for proposed role that would modify company-run stress testing requirements to conform with the Economic Growth, Regulatory Relief, and Consumer Protection Act until March 21. www.federalreserve.gov/newsevents/pressreleases/bcreg20190215a.htm February 15, 2019 - Agencies extend comment period on proposed standardized approach for calculating the exposure amount of derivative contracts - Three federal banking agencies on Friday extended until March 18, 2019, the comment period for a proposed rule to update their standards for how firms measure counterparty credit risk posed by derivative contracts. Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20190215b.htm Press Release: www.fdic.gov/news/news/press/2019/pr19008.html Press Release: www.occ.gov/news-issuances/news-releases/2019/nr-ia-2019-19.html February 15, 2019 - Statistical Release - Industrial Production and Capacity Utilization - G.17 - Industrial production decreased 0.6 percent in January after rising 0.1 percent in December. In January, manufacturing production fell 0.9 percent, primarily as a result of a large drop in motor vehicle assemblies; factory output excluding motor vehicles and parts decreased 0.2 percent. www.federalreserve.gov/releases/g17/Current/default.htm February 15, 2019 - Lifecycle Patterns of Saving and Wealth Accumulation - Laura J. Feiveson and John Sabelhaus - Empirical analysis of U.S. income, saving and wealth dynamics is constrained by a lack of high-quality and comprehensive household-level panel data. www.federalreserve.gov/econres/feds/files/2019010pap.pdf February 15, 2019 - OCC Enforcement Actions and Terminations for February 2019 - The Office of the Comptroller of the Currency today released new enforcement actions taken against national banks, federal savings associations, and individuals currently and formerly affiliated with national banks and federal savings associations. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-18.html February 15, 2019 - NCUA�s Four Funds Receive Clean 2018 Audit Opinions - The National Credit Union Administration�s four funds earned unmodified, or �clean,� audit opinions for 2018, according to audited financial statements released today by the agency�s Office of the Inspector General. www.ncua.gov/newsroom/press-release/2019/ncuas-four-funds-receive-clean-2018-audit-opinions February 15, 2019 - How Have Banks Responded to the Flatter Yield Curve? By Thomas King , Jonathan Yu - Between December 2015 and September 2018, a cumulative increase in the federal funds rate of 200 basis points was accompanied by a compression of 125 basis points in the difference between the yields on three-month and ten-year U.S. Treasury securities. www.chicagofed.org/publications/chicago-fed-letter/2018/406 February 14, 2019 - Midwest Farmland Values Steady in 2018 - According to the most recent AgLetter, Seventh District farmland values in the fourth quarter of 2018 were largely the same as a year ago. Values for �good� agricultural land in the fourth quarter of 2018 were 1 percent higher than in the third quarter. www.chicagofed.org/publications/agletter/index February 14, 2019 - Revised Data Released for Stress Tests - The Office of the Comptroller of the Currency today released a revised dataset for use by covered institutions in the upcoming 2019 stress tests. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-17.html February 14, 2019 - St. Louis Fed Ag Survey: Twentieth Consecutive Quarter Farm Income Declines - Farm income continued to decline in the Midwest and Mid-South during the fourth quarter of 2018, according to the latest Agricultural Finance Monitor published by the Federal Reserve Bank of St. Louis. Despite further downward pressure on farm incomes, prices of quality farmland and ranchland or pastureland values all rose. www.stlouisfed.org/news-releases/2019/02/14/st-louis-fed-ag-survey-fourth-quarter-2018 February 14, 2019 - Advanced Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System will be held under expedited procedures at 2:00 p.m. on February 19, 2019. Matter(s) considered: Proposed Semiannual Monetary Policy Report and Statement to the Congress. https://www.federalreserve.gov/aboutthefed/boardmeetings/20190219closed.htm ____________ February 14, 2019 - NCUA - Supervisory Committee Audit Rule Changes Proposed - The National Credit Union Administration Board held its second open meeting of 2019 at the agency�s headquarters today and unanimously approved one item: www.ncua.gov/newsroom/press-release/2019/supervisory-committee-audit-rule-changes-proposed February 14, 2019 - Advanced Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System will be held under expedited procedures at 2:00 p.m. on February 19, 2019. Matter(s) considered: Proposed Semiannual Monetary Policy Report and Statement to the Congress. www.federalreserve.gov/aboutthefed/boardmeetings/20190219closed.htm February 13, 2019 - Amendments to the Stress Testing Rules for National Banks and Federal Savings Associations: Notice of Proposed Rulemaking - The Office of the Comptroller of the Currency published a notice of proposed rulemaking in the Federal Register on February 13, 2019, that would amend the OCC�s stress testing rule at 12 CFR 46. www.occ.treas.gov/news-issuances/bulletins/2019/bulletin-2019-7.html February 13, 2019 - Issuance of Final Rule on Loans in Areas Having Special Flood Hazards�Private Flood Insurance - The Biggert-Waters Flood Insurance Reform Act of 2012 amended Federal flood insurance legislation to require the FDIC, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the National Credit Union Administration, and the Farm Credit Administration to issue a final rule that directs insured depository institutions to accept private flood insurance as defined by the Biggert-Waters Act. www.fdic.gov/news/news/financial/2019/fil19008.html February 13, 2019 - Stress Testing Household Debt - Neil Bhutta, Jesse Bricker, Lisa J. Dettling, Jimmy Kelliher, and Steven M. Laufer - We estimate a county-level model of household delinquency and use it to conduct "stress tests" of household debt. www.federalreserve.gov/econres/feds/files/2019008pap.pdf February 13, 2019 - Monetary Policy Strategies for a Low-Rate Environment - Ben S. Bernanke, Michael T. Kiley, and John M. Roberts - In low-rate environments, policy strategies that involve holding rates �lower for longer� may mitigate the effects of the effective lower bound. www.federalreserve.gov/econres/feds/files/2019009pap.pdf February 13, 2019 - Federal Reserve Board begins 2019 Survey of Consumer Finances - The Federal Reserve Board in March will begin its Survey of Consumer Finances, a statistical study of household finances that will provide policymakers with important insight into the economic condition of a broad cross section of American families. www.federalreserve.gov/newsevents/pressreleases/other20190213a.htm February 12, 2019 - OCC Hosts Compliance and Operational Risk Workshops in Milwaukee - The Office of the Comptroller of the Currency will host two workshops in Milwaukee, Wisconsin, at the Hilton Garden Inn Milwaukee Downtown, March 26 and 27, for directors of national community banks and federal savings associations supervised by the OCC. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-16.html February 12, 2019 - Emerging Trends in the U.S. and Colorado Economies - By Alison Felix Economist and Branch Executive Federal Reserve Bank of Kansas City Denver Branch. www.kansascityfed.org/~/media/files/publicat/speeches/2019/2019-felix-energyfinancediscussiongroup-02-12.pdf February 12, 2019 - FDIC Extends Comment Period Related to its Request for Information on the Deposit Insurance Application Process - The Federal Deposit Insurance Corporation has extended the comment period related to the Request for Information on the Deposit Insurance Application Process until March 31. The RFI is part of the FDIC's ongoing efforts to enhance transparency, efficiency, and accountability. www.fdic.gov/news/news/press/2019/pr19007.html February 12, 2019 - Gender Diversity on Bank Board of Directors and Performance - Ann L. Owen and Judit Temesvary. www.federalreserve.gov/econres/notes/feds-notes/gender-diversity-on-bank-board-of-directors-and-performance-20190212.htm February 12, 2019 - Speech by Chairman Powell on encouraging economic development in high-poverty rural communities At �Rural Places, Rural Spaces: Closing Financial Services Gaps in Persistent Poverty America,� a policy forum sponsored by Hope Enterprise Corporation, Mississippi Valley State University, Itta Bena, Mississippi www.federalreserve.gov/newsevents/speech/powell20190212a.htm February 12, 2019 - Interagency final rule implements flood insurance reform provisions - Five federal regulatory agencies issued a joint final rule to implement provisions of the Biggert-Waters Flood Insurance Reform Act of 2012 requiring regulated institutions to accept certain private flood insurance policies in addition to National Flood Insurance Program policies. Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20190212a.htm Press Release: www.fdic.gov/news/news/press/2019/pr19006.html Press Release: www.occ.gov/news-issuances/news-releases/2019/nr-ia-2019-15.html Press Release: www.ncua.gov/newsroom/press-release/2019/new-rule-covers-private-flood-insurance February 11, 2019 - Comptroller of the Currency Supports CFPB Proposed Rule on Short-Term Small-Dollar Lending - Comptroller of the Currency Joseph Otting today issued the following statement supporting Director Kathy Kraninger and the Consumer Financial Protection Bureau�s proposed rule rescinding requirements that lenders make certain underwriting determinations before issuing short-term small-dollar loans. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-14.html February 11, 2019 - Emerging Trends in the U.S. and Colorado Economies By Alison Felix Economist and Branch Executive Federal Reserve Bank of Kansas City Denver Branch. www.kansascityfed.org/~/media/files/publicat/speeches/2019/2019-felix-airforce-02-11.pdf February 11, 2019 - A Conversation on Community Banking by Governor Michelle W. Bowman At the Conference for Community Bankers, sponsored by the American Bankers Association, San Diego, California www.federalreserve.gov/newsevents/speech/bowman20190211a.htm February 10, 2019 - Speech by Vice Chairman for Supervision Randal K. Quarles - Ideas of Order: Charting a Course for the Financial Stability Board At Bank for International Settlements Special Governors Meeting, Hong Kong. www.federalreserve.gov/newsevents/speech/quarles20190210a.htm February 8, 2019 - NCUA Review Finds No Bank Secrecy Act Data Breach - Upon learning of the recent spear phishing campaign targeting Bank Secrecy Act officers at credit unions, the NCUA conducted a comprehensive review of its security logs and alerts. www.ncua.gov/newsroom/press-release/2019/ncua-review-finds-no-bank-secrecy-act-data-breach February 8, 2019 - Technology�s Impact on Farming and the Rural Midwest - By David Oppedahl - On November 27, 2018, the Federal Reserve Bank of Chicago held a conference to explore the opportunities and challenges presented by new technologies to farms and rural areas in the Midwest and other parts of the U.S. Experts from academia, industry, and policy institutions gathered to discuss how technological advances have reshaped the rural economy and how they may affect its future. www.chicagofed.org/publications/chicago-fed-letter/2019/411 February 8, 2019 - Community Bank Leverage Ratio: Notice of Proposed Rulemaking - The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation are issuing a notice of proposed rulemaking that would provide a simplified measure of capital adequacy for qualifying community banking organizations consistent with section 201 of the Economic Growth, Regulatory Relief, and Consumer Protection Act. www.occ.treas.gov/news-issuances/bulletins/2019/bulletin-2019-6.html February 8, 2019 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm February 7, 2019 - Federal Reserve Bank of St. Louis President James Bullard discussed �Three Themes for Monetary Policy in 2019� at St. Cloud State University�s 57th Winter Institute on Thursday. www.stlouisfed.org/news-releases/2019/02/07/bullard-three-themes-monetary-policy-2019 February 7, 2019 - Statistical Release - Consumer Credit - G.19 - In 2018, consumer credit increased 5 percent, with revolving and nonrevolving credit increasing 2-3/4 percent and 5-1/2 percent, respectively. Consumer credit increased at a seasonally adjusted annual rate of 6-1/2 percent in the fourth quarter and at a rate of 5 percent in December. www.federalreserve.gov/releases/g19/current/default.htm February 7, 2019 - Robust Inference in First-Price Auctions: Experimental Findings as Identifying Restrictions - Serafin J. Grundl and Yu Zhu - In laboratory experiments bidding in first-price auctions is more aggressive than predicted by the risk-neutral Bayesian Nash Equilibrium - a finding known as the overbidding puzzle. www.federalreserve.gov/econres/feds/files/2019006pap.pdf February 7, 2019 - Banks as Regulated Traders - Antonio Falato, Diana Iercosan, and Filip Zikes - This paper uses detailed high-frequency regulatory data to evaluate whether trading increases or decreases systemic risk in the U.S. banking sector. www.federalreserve.gov/econres/feds/files/2019005pap.pdf __________________________ February 7, 2019 - Federal Reserve Board issues enforcement action with former employee of SunTrust Bank - Consent Prohibition against Alison Keefe, former employee of SunTrust Bank, Atlanta, Georgia, for violating bank overdraft policies for her own benefit. www.federalreserve.gov/newsevents/pressreleases/enforcement20190207a.htm February 6, 2019 - Federal Reserve Board announces approval of applications by Regions Bank - The Federal Reserve Board on Tuesday announced its approval of the applications under section 9 of the Federal Reserve Act by Regions Bank, Birmingham, Alabama, to establish branches in Georgia, Illinois, Missouri, Tennessee, and Texas. www.federalreserve.gov/newsevents/pressreleases/orders20190206a.htm February 5, 2019 - NCUA Board Chairman McWatters Congratulates Todd Harper on Board Nomination. www.ncua.gov/newsroom/press-release/2019/ncua-board-chairman-mcwatters-congratulates-todd-harper-board-nomination February 5, 2019 - OCC Releases Dodd-Frank Act Stress Test Scenarios for 2019 - The Office of the Comptroller of the Currency released economic and financial market scenarios for use in the upcoming stress tests for covered institutions. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-13.html February 5, 2019 - Grovetta Gardineer Named Senior Deputy Comptroller for Bank Supervision Policy - The Office of the Comptroller of the Currency today announced Grovetta Gardineer will become its Senior Deputy Comptroller for Bank Supervision Policy upon the retirement of Grace Dailey on March 2, 2019. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-12.html February 5, 2019 - Proposed Rulemaking to Revise the Deposit Insurance Assessment System to Apply the Community Bank Leverage Ratio Framework - On December 18, 2018, the FDIC Board of Directors authorized publication of a Notice of Proposed Rulemaking that would apply the Community Bank Leverage Ratio framework proposed by the FDIC, Federal Reserve, and OCC on November 21, 2018, to the deposit insurance assessment system. www.fdic.gov/news/news/financial/2019/fil19006.html February 5, 2019 - FDIC Issues List of Banks Examined for CRA Compliance - The list covers evaluation ratings that the FDIC assigned to institutions in November 2018. www.fdic.gov/news/news/press/2019/pr19005.html February 5, 2019 - Living at Home Ain't Such a Drag (on Spending): Young Adults' Spending In and Out of Their Parents' Home - Aditya Aladangady, Laura Feiveson, and Andrew Paciorek - In the wake of the Great Recession, the share of young adults living with their parents increased sharply, and it has remained elevated since www.federalreserve.gov/econres/notes/feds-notes/young-adults-spending-in-and-out-of-their-parents-home-20190205.htm February 5, 2019 - Federal Reserve Board releases scenarios for 2019 Comprehensive Capital Analysis and Review and Dodd-Frank Act stress test exercises - Stress tests, by ensuring that banks have adequate capital to absorb losses, help make sure that they will be able to lend to households and businesses even in a severe recession. www.federalreserve.gov/newsevents/pressreleases/bcreg20190205b.htm February 5, 2019 - Federal Reserve Board finalizes set of changes that will increase the transparency of its stress testing program for nation's largest and most complex banks - The Federal Reserve Board on Tuesday finalized a set of changes that will increase the transparency of its stress testing program for the nation's largest and most complex banks. www.federalreserve.gov/newsevents/pressreleases/bcreg20190205a.htm February 5, 2019 - Federal Reserve Board issues enforcement action with former chairman of Mariner's Bancorp. www.federalreserve.gov/newsevents/pressreleases/enforcement20190205a.htm February 4, 2019 - Statement on Chair Powell's and Vice Chair Clarida's meeting with the President and Treasury Secretary. www.federalreserve.gov/newsevents/pressreleases/other20190204a.htm February 4, 2019 - Technology�s Impact on Farming and the Rural Midwest By David Oppedahl - On November 27, 2018, the Federal Reserve Bank of Chicago held a conference to explore the opportunities and challenges presented by new technologies to farms and rural areas in the Midwest and other parts of the U.S. Experts from academia, industry, and policy institutions gathered to discuss how technological advances have reshaped the rural economy and how they may affect its future. www.chicagofed.org/publications/chicago-fed-letter/2019/411 February 4, 2019 - Thresholds Increase for the Major Assets Prohibition of the Depository Institution Management Interlocks Act Rules: Notice of Proposed Rulemaking - The Office of the Comptroller of the Currency published a notice of proposed rulemaking in the Federal Register on January 31, 2019, that would increase the major assets prohibition thresholds for management interlocks in the OCC�s rule implementing the Depository Institution Management Interlocks Act. www.occ.treas.gov/news-issuances/bulletins/2019/bulletin-2019-5.html February 4, 2019 - Voluntary Private Education Loan Rehabilitation Programs - The FDIC and the Board of Governors of the Federal Reserve System jointly are providing an advisory on Voluntary Private Education Loan Rehabilitation Programs to make financial institutions aware of an amendment to section 623 of the Fair Credit Reporting Act www.fdic.gov/news/news/financial/2019/fil19005.html February 4, 2019 - Bank Holding Companies/Savings and Loan Holding Companies/Change in Control - 2019 Letters - Letter to Peter J. Morgan III, Esq., granting a request by The Charles Schwab Corporation for an extension of time to comply with the requirement to submit an implementation plan pursuant to section 217.121(b)(1) of the Board�s Regulation Q. www.federalreserve.gov/supervisionreg/legalinterpretations/bhc_changeincontrol20190104a.pdf February 4, 2019 - Bank Holding Companies/Savings and Loan Holding Companies/Change in Control - 2019 Letters - Letter to Mr. John J. Bellini, granting the request by Auto Club Trust, FSB, Dearborn, Michigan, for an exception from the tying prohibitions in section 5(q) of the Home Owners' Loan Act of 1933, as amended (12 U.S.C. � 1464(q)). www.federalreserve.gov/supervisionreg/legalinterpretations/bhc_changeincontrol20190107a.pdf February 4, 2019 - Voluntary Private Education Loan Rehabilitation Programs - The Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation are issuing the attached advisory to inform financial institutions about the provisions in section 602 of the Economic Growth, Regulatory Relief, and Consumer Protection Act www.federalreserve.gov/supervisionreg/srletters/sr1902.htm February 4, 2019 - Legal Interpretations-Bank Holding Company Act, December 13, 2018 (7 letters), January 4 and 7, 2019. www.federalreserve.gov/supervisionreg/legalinterpretations/bhc_changeincontrol2018.htm February 1, 2019 - NCUA Issues Prohibition Order - Linda Pelham, a former employee of Everglades Federal Credit Union in Clewiston, Florida, agreed and consented to the issuance of a prohibition order and agreed to comply with all of its terms to settle and resolve the NCUA Board�s claims against her. www.ncua.gov/newsroom/press-release/2019/ncua-issues-prohibition-order February 1, 2019 - OCC Releases CRA Evaluations for 48 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, 2019 through January 31, 2019. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-11.html February 1, 2019 - Are Disappearing Employer Pensions Contributing to Rising Wealth Inequality? - John Sabelhaus and Alice Henriques Volz - The share of U.S. workers covered by a traditional employer-sponsored pension plan has declined dramatically over the past few decades. www.federalreserve.gov/econres/notes/feds-notes/are-disappearing-employer-pensions-contributing-to-rising-wealth-inequality-20190201.htm February 1, 2019 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm February 1, 2019 - Statistical Release - Foreign Exchange Rates - G.5 - Effective on February 4, 2019, the Federal Reserve Board staff will make major changes to the methodology used to construct the trade-weighted dollar indexes in the H.10, G.5, and G.5A releases. These changes will affect the calculation of index weights and country composition. www.federalreserve.gov/releases/g5/current/default.htm February 1, 2019 - Evaluating the conditionality of judgmental forecasts - Travis J. Berge, Andrew C. Chang, and Nitish R. Sinha - We propose a framework to evaluate the conditionality of forecasts. The crux of our framework is the observation that a forecast is conditional if revisions to the conditioning factor are faithfully incorporated into the remainder of the forecast. www.federalreserve.gov/econres/feds/files/2019002pap.pdf February 1, 2019 - Monetary Policy Options at the Effective Lower Bound: Assessing the Federal Reserve's Current Policy Toolkit - Hess Chung, Etienne Gagnon, Taisuke Nakata, Matthias Paustian, Bernd Schlusche, James Trevino, Diego Vil�n, and Wei Zheng - We simulate the FRB/US model and a number of statistical models to quantify some of the risks stemming from the effective lower bound on the federal funds rate and to assess the efficacy of adjustments to the federal funds rate target, balance sheet policies, and forward guidance to provide monetary policy accommodation in the event of a recession. www.federalreserve.gov/econres/feds/files/2019003pap.pdf February 1, 2019 - The Monetary Base in Allan Meltzer's Analytical Framework - Edward Nelson - Although he was based in the United States, leading monetarist Karl Brunner participated in debates in the United Kingdom on monetary analysis and policy from the 1960s to the 1980s. www.federalreserve.gov/econres/feds/2019.htm#2019001 February 1, 2019 - A Collateral Theory of Endogenous Debt Maturity - R. Matthew Darst and Ehraz Refayet - This paper studies optimal debt maturity when firms cannot issue state contingent claims and must back promises with collateral. www.federalreserve.gov/econres/feds/2017.htm#2017057 February 1, 2019 - Speech by Governor Brainard on strengthening the Community Reinvestment Act At "Research Symposium on the Community Reinvestment Act" hosted by the Federal Reserve Bank of Philadelphia, Philadelphia, Pennsylvania. www.federalreserve.gov/newsevents/speech/brainard20190201a.htm |
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