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January 31, 2013 - Understanding Recent Trends in Midwest
Farmland Leasing - Chicago Fed Letter examines current trends in
farmland rental arrangements and their impacts on agricultural
January 31, 2013 - NCUA Issues Prohibition Orders - The National
Credit Union Administration has issued orders prohibiting the
following individuals from participating in the affairs of any
federally insured financial institution.
January 31, 2013 - Federal Reserve Board announces termination
of enforcement actions against Oregon Community Bank & Trust,
Security Financial Services Corporation, and Security Financial
January 30, 2013 - Comptroller Addresses FFIEC Consumer
Compliance Specialists Conference - Comptroller of the Currency
Thomas J. Curry today discussed the importance of consumer
compliance in bank supervision during the Federal Financial
Institutions Examination Council’s Consumer Compliance
January 30, 2013 - Martin Pfinsgraff Named Acting Head of Large
Bank Supervision - The Office of the Comptroller of the Currency
announced today that Martin Pfinsgraff would become acting
Senior Deputy Comptroller for Large Bank Supervision, succeeding
Michael L. Brosnan who will become Examiner-in-Charge of Zions
January 30, 2013 - Federal Reserve issues FOMC statement -
Information received since the Federal Open Market Committee met
in December suggests that growth in economic activity paused in
recent months, in large part because of weather-related
disruptions and other transitory factors.
January 29, 2013 - Adrian Rodriguez Named Senior VP,
Communications, for the Federal Reserve Bank of San Francisco -
Adrian Rodriguez will join the Federal Reserve Bank of San
Francisco on February 1 as Senior Vice President,
Communications. Reporting to the President and CEO of the Bank,
he will serve on the Executive Committee, and provide strategic
direction to the Bank’s communications efforts.
January 29, 2013 - FDIC Announces New Members for the Advisory
Committee on Community Banking - The Federal Deposit Insurance
Corporation has announced the selection of eight new members for
its Advisory Committee on Community Banking, which has been
providing advice and recommendations to the FDIC on a broad
range of community bank policy and regulatory matters since it
was established in 2009.
January 28, 2013 - Comptroller Delivers L. William Seidman
Lecture - Comptroller of the Currency Thomas J. Curry today
delivered the L. William Seidman Lecture at the annual Bank
Director Magazine Conference. During the lecture, the
Comptroller discussed the vital role community bank directors
play in the governance of national banks and savings
institutions and outlined OCC resources available to them.
January 28, 2013 - Comptroller Addresses American Securitization
Forum - Comptroller of the Currency Thomas J. Curry today
discussed housing finance before the American Securitization
January 28, 2013 - Federal Reserve Board announces approval of
applications by NongHyup Bank.
January 28, 2013 - The Federal Reserve Board on Monday announced
that results from the supervisory stress tests conducted as part
of the Dodd-Frank Wall Street Reform and Consumer Protection Act
will be released on Thursday, March 7, and the related results
from the Comprehensive Capital Analysis and Review, or CCAR,
will be released on Thursday, March 14. Results will be released
for both exercises at 4:30 p.m. Eastern Time.
January 25, 2013 - Regulators and Community Banks Working
Together - Chicago Fed Letter discusses impact of regulatory
changes and importance of risk management for community banks.
January 25, 2013 - Economic Growth Moderated in December - The
Chicago Fed National Activity Index was +0.02 in December, down
from +0.27 in November.
January 25, 2013 - NCUA - $9.5 Million Available for Low-Income
Credit Union Loans from NCUA - The National Credit Union
Administration plans to make $9.5 million in loans from the
Community Development Revolving Loan Fund available to
low-income credit unions in 2013.
January 25, 2013 - NCUA - AEA Federal Credit Union Reports
Progress with Positive Year-End Results - AEA Federal Credit
Union reported improved financial performance for the year
ending Dec. 31, 2012. The progress resulted from several new
services for members and more efficient operations. AEA, which
operates under the conservatorship of the National Credit Union
Administration, posted 2012 year-end net income of $3.15
January 25, 2013 - OCC Assesses $10 Million Civil Money Penalty
against TCF National Bank, Bank Secrecy Act Violations Cited -
The Office of the Comptroller of the Currency today announced a
$10 million civil money penalty against TCF National Bank, Sioux
Falls, S.D., for violations of the Bank Secrecy Act
January 25, 2013 - OCC Supports Earned Income Tax Credit
Awareness Day - Comptroller of the Currency Thomas J. Curry
today issued the following statement recognizing Earned Income
Tax Credit Awareness Day.
January 25, 2013 - OCC Renews Minority Depository Institutions
Advisory Committee, Will Host Inaugural Meeting on March 5 - The
Office of the Comptroller of the Currency today has renewed the
charter for the Minority Depository Institutions Advisory
Committee and will host its first meeting Tuesday, March 5,
2013, in Washington, D.C.
January 25, 2013 - Experts to Explore Household Balance Sheets’
Role in National Economic Growth - Leading national and
international experts in the roots of the devastation to
household balance sheets during the Great Recession will gather
at the Federal Reserve Bank of St. Louis Feb. 5-7, 2013 to
explore ways to improve household balance sheets, which play a
critical role in household financial stability and restoring
national economic growth.
January 25, 2013 - FDIC Makes Public December Enforcement
Actions; No Administrative Hearings Scheduled for February 2013
- The Federal Deposit Insurance Corporation today released a
list of orders of administrative enforcement actions taken
against banks and individuals in December. No administrative
hearings are scheduled for February 2013.
January 25, 2013 - Credit and Liquidity Programs and the Balance
Sheet - Recent balance sheet trends, weekly chart data update
January 24, 2013 - Office of the Comptroller of the Currency
Hosts Workshop in Kentucky - The Office of the Comptroller of
the Currency will host a workshop in Louisville, Ky., at The
Brown Hotel, March 4-6, for directors of national community
banks and federal savings associations.
January 24, 2013 - Kansas City Fed announces director election
January 24, 2013 - FDIC Launches Community Affairs Webinar
Series for Bankers - The series will highlight potential
community development and inclusion opportunities for
institutions. - Staff from the FDIC's Division of Depositor and
Consumer Protection Community Affairs Branch will host a webinar
series for bankers in 2013.
January 24, 2013 - Federal Reserve Board announces its approval
of the application filed by Trustmark Corporation.
January 24, 2013 - Federal Reserve Board announces termination
of enforcement action with Farmers and Merchants Bancshares,
January 24, 2013 - NCUA Posts 2013 Regulation Review List - The
National Credit Union Administration has posted a list of
regulations it will review in 2013, and the agency is now
accepting public comments on the substance and clarity of each
January 23, 2013 - Comptroller Curry to Meet with Parliamentary
Commission on Banking Standards - Comptroller of the Currency
Thomas J. Curry will appear Thursday before a public session of
the Parliamentary Commission on Banking Standards to discuss the
OCC's approach to ensuring accountability of independent
directors at federal banks and thrifts.
January 23, 2013 - NCUA - Matz Discusses Progress and Goals in a
CUbroadcast Online Interview.
January 22, 2013 - NCUA Economic Update - January 2013 - NCUA
Chief Economist John Worth's January analysis examines recent
economic developments in the housing and labor markets and
provides updates on important economic risks.
January 22, 2013 - Michael Shepherd Reappointed to the Federal
Advisory Council - Michael Shepherd - The Federal Reserve Bank
of San Francisco’s board of directors has reappointed Michael
Shepherd, chairman and chief executive officer of Bank of the
West and BancWest Corporation, to represent the District on the
Federal Advisory Council for a second one-year term beginning
January 22, 2013 - Financial Regulators Propose Guidance on
Social Media - The Federal Financial Institutions Examination
Council today released proposed guidance on the applicability of
consumer protection and compliance laws, regulations, and
policies to activities conducted via social media by banks,
savings associations, and credit unions, as well as nonbank
entities supervised by the Consumer Financial Protection Bureau
and state regulators.
January 22, 2013 - Regulatory Reform - Communications with the
public through January 22, 2013.
January 22, 2013 - Federal Reserve Board issues enforcement
action with Flathead Holding Company of Bigfork.
January 18, 2013 - First Minnesota Bank, Minnetonka, Minnesota,
Assumes All of the Deposits of 1st Regents Bank, Andover,
Minnesota - 1st Regents Bank, Andover, 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 Minnesota Bank, Minnetonka,
Minnesota, to assume all of the deposits of 1st Regents Bank.
January 18, 2013 - OCC Enforcement Actions - The Office of the
Comptroller of the Currency today released new enforcement
actions taken against national banks, federal savings
associations, and individuals currently and formerly affiliated
with national banks and federal savings associations.
January 18, 2013 - Why the Geographic Variation in Health Care
Spending Can't Tell Us Much about the Efficiency or Quality of
our Health Care System - Louise Sheiner - This paper examines
the geographic variation in Medicare and non-Medicare health
spending and finds little support for the view that most of the
variation is attributable to differences in practice styles.
January 18, 2013 - Bank Liquidity Hoarding and the Financial
Crisis: An Empirical Evaluation - Jose Berrospide - I test and
find supporting evidence for the precautionary motive hypothesis
of liquidity hoarding for U.S. commercial banks during the
recent financial crisis.
January 18, 2013 - Financing Constraints, Firm Dynamics, and
International Trade - Stephane Verani and Till Gross - There is
growing empirical support for the conjecture that access to
credit is an important determinant of firms' export decisions.
We study a multi-country general equilibrium economy in which
entrepreneurs and lenders engage in long-term credit
January 18, 2013 - Credit and Liquidity Programs and the Balance
Sheet - Recent balance sheet trends, weekly chart data update.
January 18, 2013 - Federal Open Market Committee - 2007 Meeting
Transcripts, Presentation Materials, and Agendas.
January 18, 2013 - OCC and Federal Reserve Reach Agreement with
HSBC to Provide $249 Million in Payments and Assistance - HSBC
has joined the agreement in principle announced by the Federal
Reserve Board and Office of the Comptroller of the Currency on
January 7, 2013, and will pay $249 million in cash payments and
other assistance to help mortgage borrowers.
January 18, 2013 - Agencies Issue Final Rule on Appraisals for
Higher-Priced Mortgage Loans - Six federal financial regulatory
agencies today issued the final rule that establishes new
appraisal requirements for "higher-priced mortgage loans." The
rule implements amendments to the Truth in Lending Act made by
the Dodd-Frank Wall Street Reform and Consumer Protection Act of
2010. Under the Dodd-Frank Act, mortgage loans are higher-priced
if they are secured by a consumer's home and have interest rates
above certain thresholds.
January 17, 2013 - Developing a Roadmap to Improve the U.S.
Payment System - Chicago Fed Letter summarizes latest Payments
Symposium, which yielded a consensus among participants to
create a unifying strategy for the payments industry.
January 17, 2013 - Office of the Comptroller of the Currency
Hosts Workshop in Arkansas - The Office of the Comptroller of
the Currency will host a workshop in Little Rock, Ark., at the
DoubleTree Little Rock, Feb. 11-13, for directors of national
community banks and federal savings associations.
January 17, 2013 - The Federal Reserve's Balance Sheet and
Earnings: A primer and projections - Seth B. Carpenter, Jane E.
Ihrig, Elizabeth C. Klee, Daniel W. Quinn, and Alexander H.
Boote - Over the past few years, the Federal Reserve's use of
unconventional monetary policy tools has led it to hold a large
portfolio of securities. The asset purchases are intended to put
downward pressure on longer-term interest rates, but also affect
the Federal Reserve's balance sheet and income.
January 17, 2013 - Federal Reserve Banks Announce New Study to
Examine Nation’s Payments Usage - The Federal Reserve's Retail
Payments Office, located at the Federal Reserve Bank in Atlanta,
today announced plans to conduct a new study to determine the
current volume and composition of electronic and check payments
in the United States.
January 17, 2013 - Federal Reserve Board issues enforcement
action with The Commercial & Savings Bank, and announces
termination of enforcement action with Blue Valley Ban Corp. and
Bank of Blue Valley.
January 16, 2013 - Federal Reserve Releases January Beige Book
and Related Sound Clip - Audio highlights of the Federal
Reserve's Beige Book, which summarize economic conditions for
the United States as a whole and the Fed's Eighth District, are
available for downloading.
January 16, 2013 - Beige Book - Informal review by the Federal
Reserve Banks of current economic conditions in their Districts.
January 16, 2013 - Federal Reserve Board reaches agreements in
principle with Goldman Sachs and Morgan Stanley to provide $557
million in payments and other mortgage assistance to borrowers.
January 15, 2013 - Fed’s Evans Addresses Asian Financial Forum
in Hong Kong - Chicago Fed President Charles Evans participated
in a panel discussion January 14 about monetary policy.
January 15, 2013 - OCC Announces 2013 Community Bank Director
Workshop Schedule - The Office of the Comptroller of the
Currency today announced its schedule of workshops for bank
directors of national community banks and federal savings
January 15, 2013 - Leadership 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, CEO of Unified Grocers, Inc., and Tracey Doi, Group
Vice President and CFO of Toyota Motor Sales, USA, Inc., were
appointed as chair and vice chair of the Federal Reserve Bank of
San Francisco’s Economic Advisory Council
January 15, 2013 - FDIC Announces Departure of Division of Risk
Management Supervision Director Sandra L. Thompson - The FDIC
has announced that Sandra L. Thompson, Director of the Division
of Risk Management Supervision, has accepted the position of
Deputy Director of Housing Mission and Goals at the Federal
Housing Finance Agency.
January 15, 2013 - The Federal Reserve Board on Tuesday
announced that it agreed with the Treasury Department that the
credit protection Treasury has provided for the Term
Asset-Backed Securities Loan Facility is no longer necessary
because the accumulated fees collected through TALF exceed the
amount of TALF loans outstanding.
January 14, 2013 - OCC Issues Cease and Desist Order Against
JPMorgan Chase, N.A., Related to Bank Secrecy Act/Anti-Money
Laundering - The Office of the Comptroller of the Currency
announced today the issuance of a cease and desist order, by
consent, against JPMorgan Chase, N.A.; JPMorgan Bank and Trust
Company, N.A.; and Chase Bank USA, N.A., for deficiencies in the
banks’ overall program for Bank Secrecy Act/Anti-Money
January 14, 2013 - OCC Issues Cease and Desist Order Against
JPMorgan Chase, N.A., Related to Derivatives Trading Activity -
The Office of the Comptroller of the Currency announced today
the issuance of a cease and desist order, by consent, against
JPMorgan Chase, N.A., for unsafe and unsound practices and
violations of law or regulation related to derivatives trading
activities conducted on behalf of the bank by the Chief
January 14, 2013 - Amy Friend Named OCC Chief Counsel - The
Office of the Comptroller of the Currency announced today that
Amy Friend has been named the agency’s Chief Counsel.
January 14, 2013 - Communications with the public through
January 14, 2013.
January 14, 2013 - Federal Reserve Board issues two consent
cease and desist orders against JPMorgan Chase & Co.
January 14, 2013 - Sunwest Bank, Irvine, California, Assumes All
of the Deposits of Westside Community Bank, University Place,
Washington - Westside Community Bank, University Place,
Washington, was closed today by the Washington State 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
Sunwest Bank, Irvine, California, to assume all of the deposits
of Westside Community Bank.
January 11, 2013 - Forecast: Solid U.S. Economic Growth in 2013
- Chicago Fed Letter summarizes the Economic Outlook Symposium's
2013 forecasts, including inflation remaining largely unchanged
and unemployment edging lower.
January 11, 2013 - NCUA Will Award $50,000 to Winning Low-Income
Designated Credit Union - The National Credit Union
Administration announced today that it will award a low-income
designated credit union with $50,000 in grant funding for a
proposal that results in long-term savings to a credit union
January 11, 2013 - NCUA Hosting Webinar on Strategic Issues for
Serving Low-Income Members - The National Credit Union
Administration Office of Small Credit Union Initiatives will
host a free webinar - “Strategic Issues for Serving Low-Income
Members” - on Wednesday, Jan. 23, at 2 p.m. Eastern.
January 11, 2013 - Comptroller Addresses California Bankers
Association - Comptroller of the Currency Thomas J. Curry spoke
today before the California Bankers Association.
January 11, 2013 - Credit and Liquidity Programs and the Balance
Sheet - Recent balance sheet trends, weekly chart data update
January 10, 2013 - Román D. Hernández Appointed to the Portland
Branch Board of the Federal Reserve Bank of San Francisco - The
Federal Reserve Bank of San Francisco has appointed Román D.
Hernández, shareholder and attorney at Schwabe, Williamson &
Wyatt in Portland, Oregon, to its Portland Branch board of
directors, effective January 1, 2013.
January 10, 2013 - St. Louis Fed’s Bullard Discusses Recent U.S.
Monetary Policy and Economic Outlook for 2013 - Federal Reserve
Bank of St. Louis President James Bullard gave remarks Thursday
on “The Fed’s New Regime and the 2013 Outlook,” during an
economic forecast luncheon sponsored by the Wisconsin Bankers
January 10, 2013 - Real-Time Properties of the Federal Reserve's
Output Gap - Rochelle M. Edge and Jeremy B. Rudd - This note
considers the reliability of Federal Reserve Board staff
estimates of the output gap after the mid-1990s, and examines
the usefulness of these estimates for inflation forecasting.
January 10, 2013 - Reserve Bank income and expense data and
transfers to the Treasury for 2012 - The Federal Reserve Board
on Thursday announced preliminary unaudited results indicating
that the Reserve Banks provided for payments of approximately
$88.9 billion of their estimated 2012 net income to the U.S.
January 10, 2013 - NCUA Lifts Small Credit Union Definition to
$50 Million to Ease Regulatory Burdens - Board Also Extends
Low-Income Credit Union Acceptance Deadline and Finalizes
“Troubled Condition” Regulation.
January 9, 2013 - NCUA Board Chairman Matz Interviewed in Latest
January 8, 2013 - Leadership and membership changes announced
for the Federal Reserve Bank of San Francisco’s Board of
January 8, 2013 - Statistical Release - Consumer Credit - G.19 -
In November, consumer credit increased at a seasonally adjusted
annual rate of 7 percent. Revolving credit increased at an
annual rate of 1 percent, while nonrevolving credit increased at
an annual rate of 9-1/2 percent.
January 8, 2013 - Minutes of the Board's discount rates meetings
from November 19 and December 10, 2012.
January 7, 2013 - NCUA - The January 2013 Issue of the NCUA
Report is Now Available.
January 7, 2013 - NCUA - New Covenant Missionary Baptist Church
Credit Union Closes - The Wisconsin Office of Credit Unions
liquidated New Covenant Missionary Baptist Church Credit Union
(New Covenant) of Milwaukee, Wis., today and appointed the
National Credit Union Administration as liquidating agent.
January 7, 2013 - Statement from Comptroller of the Currency
Thomas J. Curry on the IFR Settlement - The OCC released the
following statement by Comptroller of the Currency Thomas J.
Curry regarding the settlement with 10 mortgage servicers
subject to enforcement actions for deficient practices in
mortgage loan servicing and foreclosure processing.
January 7, 2013 - Independent foreclosure review to provide $3.3
billion in payments, $5.2 billion in mortgage assistance.
January 4, 2013 - St. Louis Fed’s Community Development
Department Launches Podcast Series - The Community Development
department at the Federal Reserve Bank of St. Louis has launched
an audio podcast series aimed at using real-world examples to
address community development challenges in the Eighth District.
January 4, 2013 - FDIC Issues List of Banks Examined for CRA
Compliance - The Federal Deposit Insurance Corporation today
issued its list of state nonmember banks recently evaluated for
compliance with the Community Reinvestment Act. The list covers
evaluation ratings that the FDIC assigned to institutions in
January 4, 2013 - A User's Guide for the Bank Holding Company
Performance Report, March 2012 update.
January 4, 2013 - Credit and Liquidity Programs and the Balance
Sheet - Recent balance sheet trends, weekly chart data update.
January 4, 2013 - Vice Chair Janet L. Yellen -
Interconnectedness and Systemic Risk: Lessons from the Financial
Crisis and Policy Implications
At the American Economic Association/American Finance
Association Joint Luncheon, San Diego, California
January 3, 2013 - Financial Conditions Again Tighten Slightly in
Week Ending December 28 - The NFCI edged up to -0.74 in the week
ending December 28, indicating slightly tighter financial
conditions. The risk, credit and nonfinancial leverage
subindexes increased somewhat from the previous week, while the
leverage subindex was unchanged.
January 3, 2013 - NCUA - Agenda for the 1/10/2013 NCUA Board
Meeting is Available.
January 3, 2013 - Transition Period under Section 716 of the
Dodd-Frank Wall Street Reform and Consumer Protection Act - The
Office of the Comptroller of the Currency today provided
guidance regarding requests for a transition period pursuant to
section 716(f) of the Dodd-Frank Wall Street Reform and Consumer
Protection Act of 2010.
January 3, 2013 - Minutes of the Federal Open Market Committee,
December 11-12, 2012.
January 3, 2013 - Federal Reserve Board announces termination of
enforcement action with Farmers State Bank.
January 2, 2013 - NCUA Hosting Home Mortgage Disclosure Act
Webinar - The National Credit Union Administration will host a
free webinar about the Home Mortgage Disclosure Act and Loan
Application Registers. Entitled “HMDA: Accuracy and Timeliness,”
the webinar will start Thursday, Jan. 24, 2013, at 2:00 p.m.
January 2, 2013 - OCC Releases CRA Evaluations for 30 National
Banks and Federal Savings Associations.
January 2, 2013 - Salt Lake Fed Branch Names New Director -
Susan Johnson - Salt Lake City — The Federal Reserve Bank of San
Francisco announced that it has appointed Susan Johnson,
President, Futura Industries Corporation, Clearfield, Utah a
Director of the Salt Lake City Branch effective January 1, 2013.