R. Kinney Williams - Yennik, Inc.®
R. Kinney Williams
Yennik, Inc.

The Community Banker
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The E-mail Banking News
(Bank Regulatory News)

January 2012

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January 31, 2012 - Financial Disclosures - In order to promote transparency and in response to media interest, the Federal Bank of Chicago is making available financial disclosure forms and related documents filed by Bank President Charles Evans with the Chicago Fed's Ethics Officer. The information covers the years he served in his current position through 2010, the most recent year of filing. www.chicagofed.org/webpages/utilities/about_us/financial_discloures.cfm 

January 31, 2012 - Acting Comptroller of the Currency Discusses Challenges Facing Community Banks - Acting Comptroller of the Currency John Walsh discussed challenges facing community banks and thrifts during a speech before attendees of a conference sponsored by Bank Director magazine in Phoenix, January 30. www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-14.html

January 31, 2012 - Financial Disclosure and Code of Conduct - In order to promote transparency and in response to media interest, the Federal Reserve banks are today each making available the financial disclosure forms and related documents filed by their current president with their respective Federal Reserve Bank ethics officer. www.stlouisfed.org/newsroom/displayNews.cfm?article=1278 

January 31, 2012 - FRED App Now Available for Android Devices - The Federal Reserve Bank of St. Louis has released a version of its FRED® app that allows users of Android -powered devices to access FRED’s extensive collection of economic data on their smartphones and tablets. www.stlouisfed.org/newsroom/displayNews.cfm?article=1276

January 31, 2012 - Payment Processor Relationships - Revised Guidance - Attached is revised guidance describing potential risks associated with relationships with third-party entities that process payments for telemarketers, online businesses, and other merchants (collectively "merchants").   www.fdic.gov/news/news/financial/2012/fil12003.html 

January 31, 2012 - FDIC to Host Conference on "The Future of Community Banking"; Scheduled Speakers Include Bernanke, Gruenberg - The FDIC will host a national conference on "The Future of Community Banking" on February 16, 2012. www.fdic.gov/news/news/press/2012/pr12014.html 

January 31, 2012 - Agencies Issue Guidance on Junior Lien Loan Loss Allowances - Four federal financial regulatory agencies on Tuesday issued supervisory guidance on allowance for loan and lease losses estimation practices associated with loans and lines of credit secured by junior liens on one- to four-family residential properties.
Press Release: www.federalreserve.gov/newsevents/press/bcreg/20120131a.htm
Press Release: www.fdic.gov/news/news/press/2012/pr12015.html
Press Release: www.fdic.gov/news/news/financial/2012/fil12004.html
Press Release: www.occ.gov/news-issuances/news-releases/2012/nr-ia-2012-15.html
Press Release: www.ncua.gov/News/Pages/NW2012JointReleaseJuniorLiens.aspx

January 31, 2012 - Federal Reserve Board issues enforcement actions with Bank of Bartlett and Capitol City Bancshares, Inc. www.federalreserve.gov/newsevents/press/enforcement/20120131a.htm

January 30, 2012 - Indicators of economic conditions in low- to moderate-income community show improvement - Indicators of economic and financial conditions in the Tenth Federal Reserve District’s low- to moderate-income community showed marked improvement during the fourth quarter of 2011 after several quarters of sluggish performance, according to the Federal ReserveBank of Kansas City’s quarterly LMI Survey.   www.kc.frb.org/publicat/newsroom/2012pdf/press.release.01.30.12.pdf

January 30, 2012 - The Chicago Fed Midwest Manufacturing Index (CFMMI) increased 1.7% in December, to a seasonally adjusted level of 87.4.   www.chicagofed.org/webpages/research/data/cfmmi/current_data.cfm

January 30, 2012 - NCUA Initiates Free Economic Update Series for Credit Unions on YouTube - The National Credit Union Administration today released on the agency’s official YouTube channel the first in a regular series of videos by Office of the Chief Economist (OCE). NCUA has designed the series to inform credit unions and the public about economic developments affecting the credit union industry and the overall economy. www.ncua.gov/News/Pages/NW20120130EconVideo.aspx

January 30, 2012 - NCUA Posts Regulations to be Reviewed in 2012 - Public Comments Invited for Annual Review of One-Third of NCUA Rules - The National Credit Union Administration has posted a list of regulations to be reviewed in 2012, and the agency is now accepting public comments on the substance and wording of each rule. www.ncua.gov/News/Pages/NW20120130RegReview.aspx

January 30, 2012 - Media Advisory* St. Louis Fed President James Bullard Will Speak at Union League Club of Chicago.   www.stlouisfed.org/newsroom/displayNews.cfm?article=1277

January 30, 2012 - Quantifying the Role of Federal and State Taxes in Mitigating Wage Inequality - Daniel H. Cooper, Byron F. Lutz, and Michael G. Palumbo - Abstract: Wage inequality has risen dramatically in the United States since at least 1980. This paper quantifies the role that the tax policies of the federal and state governments have played in mitigating wage inequality. www.federalreserve.gov/pubs/feds/2012/201205/201205abs.html

January 30, 2012 - The January 2012 Senior Loan Officer Opinion Survey on Bank Lending Practices.   www.federalreserve.gov/boarddocs/SnLoanSurvey/201201/default.htm

January 30, 2012 - Regulatory Reform - Communications with the public through January 30, 2012.  www.federalreserve.gov/newsevents/reform_meetings.htm

January 27, 2012 - U.S. Bank National Association, Cincinnati, Ohio, Assumes All of the Deposits of BankEast, Knoxville, Tennessee - BankEast, Knoxville, Tennessee, was closed today by the Tennessee Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with U.S. Bank National Association, Cincinnati, Ohio, to assume all of the deposits of BankEast. www.fdic.gov/news/news/press/2012/pr12013.html

January 27, 2012 - First Resource Bank, Savage, Minnesota, Assumes All of the Deposits of Patriot Bank Minnesota, Forest Lake, Minnesota - Patriot Bank Minnesota, Forest Lake, Minnesota, was closed today by the Minnesota Department of Commerce, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with First Resource Bank, Savage, Minnesota, to assume all of the deposits of Patriot Bank Minnesota. www.fdic.gov/news/news/press/2012/pr12012.html 

January 27, 2012 - NCUA Touts Earned Income Tax Credit - Qualified Taxpayers Can Receive up to $5,751 by Filing with the IRS - The National Credit Union Administration is joining the Internal Revenue Service and other federal agencies to once again alert qualified tax payers and remind credit unions providing tax assistance services of the Earned Income Tax Credit. Taxpayers who qualify and claim the credit could pay less federal tax, pay no tax, or even get a substantial tax refund. www.ncua.gov/News/Pages/NW20120127EarnedIncTaxCr.aspx

January 27, 2012 - Inflation Targeting Resources from the Federal Reserve Bank of St. Louis - President Bullard's Remarks on Inflation Targeting - "Inflation targeting is another way to force more accountability to the central bank and anchor longer-term inflation expectations. Make the central bank say what it intends to do, and hold the central bank accountable for achieving the goal. In this sense, inflation targeting is the modern successor to a commodity standard." www.stlouisfed.org/inflation-targeting/

January 27, 2012 - Republic Bank & Trust Company, Louisville, Kentucky, Assumes All of the Deposits of Tennessee Commerce Bank, Franklin, Tennessee - Tennessee Commerce Bank, Franklin, Tennessee, was closed today by the Tennessee Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Republic Bank & Trust Company, Louisville, Kentucky, to assume all of the deposits of Tennessee Commerce Bank. www.fdic.gov/news/news/press/2012/pr12011.html 

January 27, 2012 - 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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January 27, 2012 - FDIC Makes Public December Enforcement Actions; No Administrative Hearings Scheduled for February 2012 - The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in December. No administrative hearings are scheduled. http://www.fdic.gov/news/news/press/2012/pr12009.html

January 26, 2012 - Economic Activity Improved in December - The Chicago Fed National Activity Index was +0.17 in December, up from –0.46 in November. www.chicagofed.org/webpages/research/data/cfnai/current_data.cfm

January 26, 2012 - Recently Certified CDFI Banks and the CDFI Banking Sector - Robin Newberger - The Community Development Financial Institutions Fund came into existence in 1995 with the mission to “expand the capacity of financial institutions to provide credit, capital, and financial services to underserved populations and communities in the United States.”  www.chicagofed.org/webpages/index.cfm

January 26, 2012 - NCUA - Board Action Bulletin - NCUA Supports Regulatory Relief in Loan Modification Proposal - Board also Finalizes Interest Rate Risk Rule, Proposes Derivatives for Credit Unions to Hedge Interest Rate Risk. www.ncua.gov/about/Pages/Board%20Actions/BAB20120126.aspx

January 26, 2012 - NCUA Issues Prohibition Order - The National Credit Union Administration has issued an order prohibiting the following individual from participating in the affairs of any federally insured financial institution.  www.ncua.gov/News/Pages/NW20120126Prohibition.aspx

January 26, 2012 - Office of the Comptroller of the Currency Supports Earned Income Tax Credit Awareness Day, January 27, 2012 - Acting Comptroller of the Currency John Walsh today issued the following statement recognizing Earned Income Tax Credit Awareness Day. www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-12.html

January 26, 2012 - FDIC Conducts Meeting of Systemic Resolution Advisory Committee - The FDIC on Wednesday held the second meeting of the Systemic Resolution Advisory Committee. The FDIC created the advisory committee after the passage of Dodd-Frank to provide advice and recommendations on a broad range of issues relevant to the failure and resolution of a systemically important financial company. www.fdic.gov/news/news/press/2012/pr12008.html

January 26, 2012 - Computing DSGE Models with Recursive Preferences and Stochastic Volatility - Dario Caldara, Jesus Fernandez-Villaverde, Juan Rubio-Ramirez, and Yao Wen - This paper compares different solution methods for computing the equilibrium of dynamic stochastic general equilibrium models with recursive preferences such as those in Epstein and Zin (1989 and 1991) and stochastic volatility.  www.federalreserve.gov/pubs/feds/2012/201204/201204pap.pdf 

January 26, 2012 - The Federal Reserve Board announced on Thursday that Chairman Ben S. Bernanke will deliver a series of lectures aimed at college students. Beginning on March 20, he will lead four classes on "The Federal Reserve and its Role in Today's Economy" as part of a course offered to undergraduates at the George Washington University School of Business. The class will feature a variety of speakers who will discuss central banking. Chairman Bernanke's lectures are scheduled for March 20, 22, 27 and 29 and will begin at 12:45 pm EDT. www.federalreserve.gov/newsevents/press/other/20120126a.htm

January 25, 2012 - Under the Bank Holding Company Act, bank holding companies may elect to be financial holding companies. Following is a list of those companies whose elections to become or be treated as financial holding companies are effective. www.federalreserve.gov/bankinforeg/fhc.htm

January 25, 2012 - Following careful deliberations at its recent meetings, the Federal Open Market Committee has reached broad agreement on the following principles regarding its longer-run goals and monetary policy strategy. www.federalreserve.gov/newsevents/press/monetary/20120125c.htm

January 25, 2012 - Federal Reserve Board and Federal Open Market Committee release economic projections from the January 24-25 FOMC meeting - The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached table and charts summarizing the economic projections and the target federal funds rate projections made by Federal Reserve Board members and Federal Reserve Bank presidents for the January 24-25 meeting of the Committee. www.federalreserve.gov/newsevents/press/monetary/20120125b.htm

January 25, 2012 - Federal Reserve issues FOMC statement - Information received since the Federal Open Market Committee met in December suggests that the economy has been expanding moderately, notwithstanding some slowing in global growth. www.federalreserve.gov/newsevents/press/monetary/20120125a.htm

January 24, 2012 - What are the Risks and Opportunities on the Horizon for Community Banking? - Chicago Fed Letter explores the direct and indirect effects of the Dodd–Frank Act on community banks and other related issues. http://chicagofed.org/digital_assets/publications/chicago_fed_letter/2012/cflfebruary2012_295b.pdf

January 24, 2012 - Acting Comptroller Talks About Securitization and Derivatives at the American Securitization Forum - Acting Comptroller of the Currency John Walsh today spoke to attendees of the annual American Securitization Forum conference about the role of securitization in the economy and efforts to better understand and manage the risks associated with derivatives. www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-11.html

January 24, 2012 - OCC Seeks Comment on Proposed Rule Regarding Annual Stress Tests - The Office of the Comptroller of the Currency today announced it is seeking comment on a notice of proposed rulemaking implementing section 165(i)(2) of the Dodd-Frank Wall Street Reform and Consumer Protection Act.   www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-10.html

January 23, 2012 - Keith Smith Appointed Chairman of Los Angeles Branch - Federal Reserve Board Keith Smith - The Federal Reserve Bank of San Francisco appointed Keith Smith chairman of the Los Angeles Branch board of directors, effective January 1, 2012. In addition, The Board of Governors of the Federal Reserve System appointed Mr. Smith for a three-year term commencing January 1, 2012. www.frbsf.org/news/releases/2012/0123.html?utm_source=releases

January 23, 2012 - Regulatory Reform - Communications with the public through January 23, 2012.   www.federalreserve.gov/newsevents/reform_meetings.htm

January 20, 2012 - Capital Bank, National Association, Rockville, Maryland, Assumes All of the Deposits of American Eagle Savings Bank, Boothwyn, Pennsylvania - American Eagle Savings Bank, Boothwyn, Pennsylvania, was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Capital Bank, National Association, Rockville, Maryland, to assume all of the deposits of American Eagle Savings Bank.   www.fdic.gov/news/news/press/2012/pr12007.html

January 20, 2012 - 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/2012/nr-occ-2012-8.html

January 20, 2012 - Hamilton State Bank, Hoschton, Georgia, Assumes All of the Deposits of the First State Bank, Stockbridge, Georgia - The First State Bank, Stockbridge, Georgia, was closed today by the Georgia Department of Banking and Finance, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Hamilton State Bank, Hoschton, Georgia, to assume all of the deposits of The First State Bank. www.fdic.gov/news/news/press/2012/pr12006.html 

January 20, 2012 - CenterState Bank of Florida, National Association, Winter Haven, Florida, Assumes All of the Deposits of Central Florida State Bank, Belleview, Florida - Central Florida State Bank, Belleview, Florida, was closed today by the Florida Office of Financial Regulation, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with CenterState Bank of Florida, National Association, Winter Haven, Florida, to assume all of the deposits of Central Florida State Bank.   www.fdic.gov/news/news/press/2012/pr12005.html

January 20, 2012 - Reports to the Congress - Government Performance and Results Act Reports - Although the Federal Reserve Board is not covered by the Government Performance and Results Act of 1993, the Board has chosen to voluntarily comply with the spirit of the act.   www.federalreserve.gov/publications/gpra/files/2011-gpra-performance-report.pdf 

January 20, 2012 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm 

January 20, 2012 - Credit and Liquidity Programs and the Balance Sheet January 2012 Report.   www.federalreserve.gov/monetarypolicy/files/monthlyclbsreport201201.pdf 

January 20, 2012 - The Federal Reserve on Friday released blank templates showing the format of the two charts it will use on January 25 to report Federal Open Market Committee participants' projections of the appropriate target federal funds rate. It also released a draft of an explanatory note that will accompany the projections. www.federalreserve.gov/newsevents/press/monetary/20120120a.htm
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January 20, 2012 - OCC Enforcement Actions - The Office of the Comptroller of the Currency (OCC) 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. http://www.occ.treas.gov/news-issuances/news-releases/2012/nr-occ-2012-8.html

January 19, 2012 - Office of the Comptroller of the Currency Hosts Workshop in Florida - The Office of the Comptroller of the Currency will host a workshop for directors of nationally chartered community banks and federal savings associations in Fort. Lauderdale, Florida, at the Westin Fort Lauderdale, February 27-29, 2012. www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-7.html

January 19, 2012 - Federal Bank of Kansas City Announces Promotions - The following officer promotions, effective Jan. 16, were recently announced by Esther George, president and CEO of the Federal Reserve Bank of Kansas City.  http://www.kc.frb.org/publicat/newsroom/2012pdf/press.release.01.19.12.pdf 

January 19, 2012 - The Effect of Endogenous Human Capital Accumulation on Optimal Taxation - William B. Peterman - This paper considers the impact of endogenous human capital accumulation on optimal tax policy in a life cycle model. Including endogenous human capital accumulation, either through learning-by-doing or learning-or-doing, is analytically shown to create a motive for the government to use age-dependent labor income taxes. www.federalreserve.gov/pubs/feds/2012/201203/201203pap.pdf

January 19, 2012 - Federal Reserve Board issues enforcement action with Tennessee Central Bancshares.   www.federalreserve.gov/newsevents/press/enforcement/20120119a.htm

January 18, 2012 - Rising farmland values: Causes and cautions - by David B. Oppedahl, business economist - On November 15, 2011, the Federal Reserve Bank of Chicago held a conference to explore what has been driving the large and rapid increases in Midwest farmland values.   www.chicagofed.org/digital_assets/publications/chicago_fed_letter/2012/cflfebruary2012_295a.pdf 

January 18, 2012 - OCC Will Hold Hearing on Charges against Patrick Adams; Agency Seeks Personal Cease & Desist Order and $100,000 Civil Money Penalty - The Office of the Comptroller of the Currency today announced a public hearing before an Administrative Law Judge beginning Monday, January 23, 2012, concerning an enforcement proceeding against Patrick Adams, former President and Chief Executive Officer of T Bank, N.A., Dallas, Texas. www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-6.html

January 18, 2012 - Acting Comptroller of the Currency Testifies on Volcker Rule - Acting Comptroller of the Currency John Walsh testified today before a joint hearing of two House Financial Services subcommittees on Section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, commonly known as the Volcker Rule. www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-5.html

January 18, 2012 - Membership Appointments to Federal Reserve Bank of San Francisco's Economic Advisory Council - Ian T. Clark, Philip L. Francis, George Zinn - The Federal Reserve Bank of San Francisco announced that Mary F. Kaiser, president of California Community Reinvestment Corporation, and Alfred A. Plamann, CEO of Unified Grocers, Inc., were reappointed as chair and vice chair of the Federal Reserve Bank of San Francisco’s Economic Advisory Council.  www.frbsf.org/news/releases/2012/0118.html?utm_source=releases 

January 18, 2012 - International Training & Assistance for Bank Supervisors - 2012 ITA Course Catalog.   www.federalreserve.gov/bankinforeg/ita/about_ita.htm

January 18, 2012 - Governor Daniel K. Tarullo - The Volcker Rule - Before the Subcommittee on Capital Markets and Government Sponsored Enterprises and the Subcommittee on Financial Institutions and Consumer Credit, Committee on Financial Services, U.S. House of Representatives, Washington, D.C. www.federalreserve.gov/newsevents/testimony/tarullo20120118a.htm

January 17, 2012 - OCC Issues Monthly Cost of Funds Reports for November - The Office of the Comptroller of the Currency today issued the monthly Cost of Funds reports, which provide information about funding costs, as of November 30, 2011, for institutions formerly regulated by the Office of Thrift Supervision.   www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-4.html

January 17, 2012 - FDIC Board Proposes Stress Testing Regulation for Large Banks - The FDIC today approved a notice of proposed rulemaking that would require certain large insured depository institutions to conduct annual capital-adequacy stress tests. www.fdic.gov/news/news/press/2012/pr12004.html 

January 17, 2012 - FDIC Board Approves Final Rule Requiring Resolution Plans for Insured Depository Institutions Over $50 Billion - The FDIC today approved a final rule requiring an insured depository institution with $50 billion or more in total assets to submit to the FDIC periodic contingency plans for resolution in the event of the institution's failure. www.fdic.gov/news/news/press/2012/pr12003.html 

January 17, 2012 - Regulatory Reform - Communications with the public through January 17, 2012.  www.federalreserve.gov/newsevents/reform_meetings.htm

January 17, 2012 - Questions and Answers on Interagency Advisory on Interest Rate Risk Management - On January 11, 2010, the Federal Reserve and the other financial regulators1 published an Advisory on Interest Rate Risk Management.  www.federalreserve.gov/bankinforeg/srletters/sr1202.htm

January 17, 2012 - Federal Reserve Board issues enforcement action with Southwest Florida Community Bancorp, Inc. www.federalreserve.gov/newsevents/press/enforcement/20120117a.htm

January 16, 2012 - Governor Elizabeth A. Duke - From Community Banker to Central Banker--My Journey - At the Robins School of Business, Robins Executive Speaker Series, University of Richmond, Richmond, Virginia.  www.federalreserve.gov/newsevents/speech/duke20120116a.htm

January 13, 2012 - Midwest Economic Activity Improved in Late 2011 - The Federal Reserve's 'Beige Book' showed the rate of growth of economic activity in the Seventh District picked up in late November and December. www.federalreserve.gov/fomc/beigebook/2012/20120111/7.htm

January 13, 2012 - St. Louis Fed’s Bullard Discusses Fiscal Approaches to Stabilization Policy - Federal Reserve Bank of St. Louis President James Bullard discussed his new research paper, titled “Death of a Theory,” with members of various financial institutions and local business leaders on Friday at the Edward Jones Annual Meeting. www.stls.frb.org/newsroom/displayNews.cfm?article=1262

January 13, 2012 - Using Policy Intervention to Identify Financial Stress - Mark A. Carlson, Kurt F. Lewis, and William R. Nelson - This paper describes the construction of a financial stress index. This stress index differs from other indexes in that it incorporates the co-movement and volatility of financial series as well as the levels of the series. www.federalreserve.gov/pubs/feds/2012/201202/201202pap.pdf

January 13, 2012 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

January 13, 2012 - Governor Elizabeth A. Duke - Opportunities to Reduce Regulatory Burden and Improve Credit Availability - At the 2012 Bank Presidents Seminar, California Bankers Association, Santa Barbara, California.  www.federalreserve.gov/newsevents/speech/duke20120113a.htm

January 13, 2012 - Federal Reserve Board announces appointment of Jon Faust as special adviser in the Office of Board Members.   www.federalreserve.gov/newsevents/press/other/20120113a.htm
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January 12, 2012 - Supervisory Guidance - Interest Rate Risk Management: Frequently Asked Questions - The FDIC, with the other Federal Financial Institutions Examination Council agencies, has issued responses to questions received following the issuance of the Interagency Advisory on Interest Rate Risk Management on October 24, 2010. www.fdic.gov/news/news/financial/2012/fil12002.html

January 12, 2012 - NCUA - Financial Institution Regulators Issue FAQs on Interest Rate Risk Management - The Federal Financial Institutions Examination Council today released answers to Frequently Asked Questions about the January 2010 advisory on Interest Rate Risk Management.      www.ncua.gov/News/Pages/NW20120112FFIEC.aspx

January 12, 2012 - Video - 2011 College Fed Challenge National Finals.   www.federalreserve.gov/mediacenter/media.htm 

January 12, 2012 - Federal Open Market Committee - 2006 Committee meeting transcripts and presentation materials.   www.federalreserve.gov/monetarypolicy/fomchistorical2006.htm

January 11, 2012 - FDIC Announces Winning Bidder for Small Investor Program Sale - The Federal Deposit Insurance Corporation has closed on the third sale in its Small Investor Program. The competitive bidding process involved the sale of a 25 percent initial equity stake in a limited liability company formed by the FDIC in its receivership capacity to hold certain loans of the Bank of Whitman, Colfax, Washington, which failed on August 5, 2011. www.fdic.gov/news/news/press/2012/pr12002.html

January 11, 2012 - Economic Outlook Symposium: Summary of 2011 results and 2012 forecasts by William A. Strauss, senior economist and economic advisor, and Norman Wang, associate economist - According to participants in the Chicago Fed’s annual Economic Outlook Symposium, the U.S. economy is forecasted to grow at a pace below its historical average in 2012, following a year with an even slower rate of growth; inflation is expected to ease in 2012; and the unemployment rate is predicted to edge down this year. www.chicagofed.org/digital_assets/publications/chicago_fed_letter/2012/cflfebruary2012_295.pdf

January 11, 2012 - FDIC Announces Winning Bidder for Small Investor Program Sale - The Federal Deposit Insurance Corporation (FDIC) has closed on the third sale in its Small Investor Program. The competitive bidding process involved the sale of a 25 percent initial equity stake in a limited liability company formed by the FDIC in its receivership capacity to hold certain loans of the Bank of Whitman, Colfax, Washington, which failed on August 5, 2011. www.fdic.gov/news/news/press/2012/pr12002.html

January 11, 2012 - Beige Book - Informal review by the Federal Reserve Banks of current economic conditions in their Districts www.federalreserve.gov/fomc/beigebook/2012/default.htm 
 
January 11, 2012 - NCUA Chairman Matz to Host Free Webinar with CFPB Director Cordray - National Credit Union Administration Board Chairman Debbie Matz will host a free webinar with Richard Cordray, the first Presidentially appointed director of the Consumer Financial Protection Bureau, on Wednesday, Feb. 8, at 3 p.m. EST. www.ncua.gov/News/Pages/NW20120111Webinar.aspx

January 10, 2012 - NCUA Issues Prohibition Order - The National Credit Union Administration (NCUA) has issued an order prohibiting the following individual from participating in the affairs of any federally insured financial institution.  www.ncua.gov/News/Pages/NW2011Prohibition-Ansari.aspx

January 10, 2012 - Office of the Comptroller of the Currency Hosts Workshop in California - The Office of the Comptroller of the Currency will host a workshop for directors of nationally chartered community banks and federal savings associations in Orange, California, at the Doubletree Anaheim–Orange County, January 23-25, 2012. www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-3.html

January 10, 2012 - Office of the Comptroller of the Currency Hosts Community Bank Directors Workshops - The Office of the Comptroller of the Currency recently announced its 2012 schedule of workshops to be held around the country for directors of nationally chartered community banks and federal savings associations. www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-2.html 

January 10, 2012 - Minutes of Board discount rate meetings from November 21 through December 12, 2011.   www.federalreserve.gov/newsevents/press/monetary/20120110a.htm

January 10, 2012 - Federal Reserve Board issues enforcement action with Gold Canyon Bank.   www.federalreserve.gov/newsevents/press/enforcement/20120110a.htm

January 9, 2012 - Aggregate Hours Worked in OECD Countries: New Measurement and Implications for Business Cycles - Lee E. Ohanian and Andrea Raffo - We build a dataset of quarterly hours worked for 14 OECD countries. We document that hours are as volatile as output, that a large fraction of labor adjustment takes place along the intensive margin, and that the volatility of hours relative to output has increased over time. www.federalreserve.gov/pubs/ifdp/2011/1039/ifdp1039.pdf

January 9, 2012 - Supply Constraints and Housing Market Dynamics - Andrew D. Paciorek - Although the volatility of house prices is often ascribed to demand-side factors, constraints on housing supply have important and little-studied implications for housing dynamics. I illustrate the strong relationship in city-level data between the volatility of house prices and the regulation of new housing supply. www.federalreserve.gov/pubs/feds/2012/201201/201201pap.pdf

January 9, 2012 - Consumer credit increased at an annual rate of 10 percent in November. Revolving credit increased at an annual rate of 8-1/2 percent, and nonrevolving credit increased at an annual rate of 10-3/4 percent. www.federalreserve.gov/releases/g19/current/default.htm 

January 7, 2012 - St. Louis Fed’s Bullard Discusses Fiscal Approaches to Stabilization Policy - Federal Reserve Bank of St. Louis President James Bullard previewed a new research paper he will release next week, titled “Death of a Theory,” at an event sponsored by the Korea-America Economic Association on Saturday. The event was held during the annual meeting of the American Economic Association/Allied Social Science Associations. www.stls.frb.org/newsroom/displayNews.cfm?article=1249

January 7, 2012 - Governor Sarah Bloom Raskin - Creating and Implementing an Enforcement Response to the Foreclosure Crisis - At the Association of American Law Schools Annual Meeting, Washington, D.C. www.federalreserve.gov/newsevents/speech/raskin20120107a.htm

January 6, 2012 - NCUA Places People for People CDCU into Conservatorship - The National Credit Union Administration today assumed control of service and operations at People for People Community Development Credit Union, a state-chartered, federally insured credit union, in Philadelphia. While continuing normal member services, NCUA will work to resolve issues affecting the institution’s safety and soundness. www.ncua.gov/News/Pages/NW20120106PeopleCDCU.aspx 

January 6, 2012 - NCUA - January 2012 Issue of The NCUA Report is now available.  www.ncua.gov/News/NewsLtrs/Pages/default.aspx

January 6, 2012 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

January 6, 2012 - Governor Sarah Bloom Raskin - Community Bank Examination and Supervision amid Economic Recovery - At the Maryland Bankers Association First Friday Economic Outlook Forum, Baltimore, Maryland.  www.federalreserve.gov/newsevents/speech/raskin20120106a.htm

January 6, 2012 - Governor Elizabeth A. Duke - Economic Developments, Risks to the Outlook, and Housing Market Policies - At the Virginia Bankers Association/Virginia Chamber of Commerce 2012 Financial Forecast, Richmond, Virginia www.federalreserve.gov/newsevents/speech/duke20120106a.htm
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January 5, 2012 - St. Louis Fed President James Bullard Will Speak at the KAEA event at the AEA/ASSA Annual Meeting.   www.stls.frb.org/newsroom/displayNews.cfm?article=1245

January 5, 2012 - 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/2012/pr12001.html

January 4, 2012 - Proposals for Comment - Proposal to approve the report: Recordkeeping Requirements of Regulation H and Regulation K Associated with Bank Secrecy Act Compliance Programs.  www.federalreserve.gov/boarddocs/press/foiadocs/2012/20120104/foia20120104.pdf

January 4, 2012 - NCUA - The National Credit Union Administration supports the two recommendations contained in the Government Accountability Office report on credit unions released today. Required by the National Credit Union Authority Clarification Act of 2011, the study examines corporate and consumer credit union failures since 2008, along with NCUA’s responses, and looks at the effectiveness of NCUA’s use of Prompt Corrective Action to identify failing credit unions. www.ncua.gov/News/Pages/NW20120104GAO.aspx

January 4, 2012 - OCC Releases Public Service Ads About the Independent Foreclosure Review - The Office of the Comptroller of the Currency today released print and radio public service advertisements to increase awareness of the Independent Foreclosure Review, announced in November 2011. www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-1.html

January 4, 2012 - Reports to the Congress - The U.S. Housing Market: Current Conditions and Policy Considerations.   www.federalreserve.gov/publications/other-reports/default.htm

January 3, 2012 - Federal Reserve Bank of Kansas City President Esther George announced today that Kelly J. Dubbert, senior vice president of the Bank’s Information Technology Division and chief information officer, has been promoted to first vice president and chief operating officer, effective January 15, 2012. www.kc.frb.org/publicat/newsroom/2012pdf/News.Release.01.03.12.pdf

January 3, 2012 - The Consolidated Reports of Condition and Income for the December 31, 2011, report date must be received by Monday, January 30, 2012. Certain banks with foreign offices have an additional five calendar days to submit their reports. www.fdic.gov/news/news/financial/2012/fil12001.html

January 3, 2012 - The Federal Reserve Board and the Federal Open Market Committee on Tuesday released the attached minutes of the Committee meeting held on December 13, 2011 and of the conference call held on November 28, 2011. www.federalreserve.gov/newsevents/press/monetary/20120103a.htm

 

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