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

January 31, 2014 - NCUA - Keys Federal Credit Union Reports 2013 Financials - Keys Federal Credit Union showed continued progress in 2013, expanding member services and reporting a net worth ratio gain of 37 basis points for the year ending Dec. 31. www.ncua.gov/News/Pages/NW20140131KeysFederal.aspx

January 31, 2014 - NCUA Issues Prohibition Orders - The National Credit Union Administration has issued five orders in January prohibiting the following individuals from participating in the affairs of any federally insured financial institution.  www.ncua.gov/News/Pages/NW20140131Orders.aspx

January 31, 2014 - OCC Supports Earned Income Tax Credit Awareness Day - The Office of the Comptroller of the Currency is pleased to support Earned Income Tax Credit Awareness Day, a nationwide effort to increase public awareness about a valuable tax credit for working families and free tax preparation sites. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-13.html

January 31, 2014 - Registration of Municipal Advisors – Final Rule - Section 975 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, Pub. L. 111-203, amended Section 15B(a) of the Securities Exchange Act of 1934 to make it unlawful for "municipal advisors," as defined in the Act, to provide certain advice to or solicit municipal entities or certain other persons without registering with the U.S. Securities and Exchange Commission.   www.fdic.gov/news/news/financial/2014/fil14006.html

January 31, 2014 - FDIC Makes Public December Enforcement Actions; No Administrative Hearings Scheduled for February 2014 - 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 2014. www.fdic.gov/news/news/press/2014/pr14006.html

January 31, 2014 - Banking Structure - Financial Holding Companies - 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. The list includes only the top-tier company in each organization. www.federalreserve.gov/bankinforeg/fhc.htm

January 31, 2014 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

January 31, 2014 - FEDS Notes - How Does Earnings Risk for Americans Change during Recessions? - Aggregate labor earnings fell more in the period from 2007 to 2009 than during any other post-war recession.  www.federalreserve.gov/econresdata/notes/feds-notes/2014/how-does-earnings-risk-for-americans-change-during-recessions-20140131.html

January 31, 2014 - FEDS Notes - Measuring Agency MBS Market Liquidity with Transaction Data - Agency mortgage backed securities are fixed income securities that entitle the owner to principal and interest payments on underlying residential mortgages that are guaranteed by Government Sponsored Enterprises such as the Federal National Mortgage Association and the Federal Home Loan Mortgage Company, or government agencies such as the Government National Mortgage Association www.federalreserve.gov/econresdata/notes/feds-notes/2014/measuring-agency-mbs-market-liquidity-with-transaction-data-20140131.html

January 31, 2014 - Sunwest Bank, Irvine, California, Assumes All of the Deposits of Syringa Bank, Boise Idaho - Syringa Bank, Boise Idaho, was closed today by the Idaho Department of Finance, which appointed the Federal Deposit Insurance Corporation (FDIC) 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 Syringa Bank. http://www.fdic.gov/news/news/press/2014/pr14007.html

January 31, 2014 - Statistical Release - Finance Companies - G.20.  www.federalreserve.gov/releases/g20/Current/
________________________________

January 31, 2014 - FDIC Makes Public December Enforcement Actions; No Administrative Hearings Scheduled for February 2014 - 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 for February 2014. http://www.fdic.gov/news/news/press/2014/pr14006.html

January 30, 2014 - OCC Survey Shows Banks' Underwriting Standards Continuing to Ease - The Office of the Comptroller of the Currency’s 19th Annual Survey of Credit Underwriting, released today, shows that underwriting standards are continuing to ease, with easing noted within both commercial and retail products. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-12.html

January 30, 2014 - Financial market stress rises modestly - Financial market stress rose modestly in the latest reporting week according to the St. Louis Fed Financial Stress Index. For the week ending Jan. 24, 2014, the STLFSI measured -0.963, up modestly from the previous week’s value of -1.021.   www.stlouisfed.org/newsroom/displayNews.cfm?article=2070

January 30, 2014 - Federal Open Market Committee unanimously selects Janet L. Yellen to serve as its Chair, effective February 1, 2014.   www.federalreserve.gov/newsevents/press/other/20140130a.htm

January 30, 2014 - NCUA - AEA Federal Credit Union’s “Service Culture” Produces Net Worth Improvements - A strong commitment to member service drove AEA Federal Credit Union to improved financial performance for the year ending Dec. 31, 2013. www.ncua.gov/News/Pages/NW20140130AEA.aspx

January 30, 2014 - NCUA - Matz Encourages Credit Unions to Educate Families about Building Wealth - Saving is the first step towards financial security, and National Credit Union Administration Board Chairman Debbie Matz today urged credit unions to educate members and their families about the importance of saving during America Saves and Military Saves Week, which runs Feb. 24 to March 1. www.ncua.gov/News/Pages/NW20140130BuildingWealth.aspx

January 30, 2014 - NCUA Names Markgraf to Region I Leadership Team - National Credit Union Administration Board Chairman Debbie Matz today announced the selection of Lynn Markgraf as Associate Regional Director for Programs in the agency’s Region I office. www.ncua.gov/News/Pages/NW20140130Markgraf.aspx

January 29, 2014 - Molly Scherf Named Deputy Comptroller for Large Bank Supervision - The Office of the Comptroller of the Currency today announced the appointment of Mary H. Scherf as Deputy Comptroller for Large Bank Supervision. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-11.html

January 29, 2014 - Martin Edwards, Jr., CCIM Joins St. Louis Fed’s Real Estate Industry Council - Martin Edwards, Jr., CCIM, president of Edwards Management, Inc., Realtors, Memphis, Tenn., has been named to the Real Estate Industry Council of the Federal Reserve Bank of St. Louis. www.stlouisfed.org/newsroom/displayNews.cfm?article=2069

January 29, 2014 - Federal Reserve issues FOMC statement - Information received since the Federal Open Market Committee met in December indicates that growth in economic activity picked up in recent quarters. Labor market indicators were mixed but on balance showed further improvement. www.federalreserve.gov/newsevents/press/monetary/20140129a.htm

January 28, 2014 - NCUA - Texans Credit Union Reports Continued Positive Financial Results for 2013 - Texans Credit Union reported strong financial results for 2013, expanding loans, shedding distressed assets and increasing its net worth ratio. www.ncua.gov/News/Pages/NW20140128Texans.aspx

January 28, 2014 - Regulatory Reform - Communications with the public through January 28, 2014 - The Federal Reserve Board will be involved in many rulemakings to implement the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.  www.federalreserve.gov/newsevents/reform_meetings.htm

January 28, 2014 - Federal Reserve Board announces termination of enforcement action with Sunrise Bank.   www.federalreserve.gov/newsevents/press/enforcement/20140128a.htm

January 27, 2014 - The OCC and Boston University Announce Symposium Commemorating 150 Years of National Banking - The Office of the Comptroller of the Currency and the Boston University Center for Finance, Law & Policy will host a symposium in Boston March 31 to commemorate the 150th anniversary of the founding of the OCC and the national banking system. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-10.html

January 27, 2014 - Government jobs, less exposure to housing bubble were key to Little Rock’s resilience during the Great Recession - Over the past century, Little Rock has transitioned from an economy that produced lumber and cottonseed to one that predominantly provides services—the lion’s share of which is in health, education and state government. www.stlouisfed.org/newsroom/displayNews.cfm?article=2067

January 24, 2014 - NCUA - Parsons Pittsburg Credit Union Conserved - The Administrator of the Kansas Department of Credit Unions today placed Parsons Pittsburg Credit Union into conservatorship and named the National Credit Union Administration as agent to handle the credit union’s day-to-day operations. www.ncua.gov/News/Pages/NW20140124Parsons.aspx

January 24, 2014 - Kevin P. Walsh Named Deputy Comptroller for Market Risk - The Office of the Comptroller of the Currency today named Kevin P. Walsh as the Deputy Comptroller for Market Risk. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-9.html

January 24, 2014 - Revisions to Regulatory Reports - The Federal Financial Institutions Examination Council has approved several revisions to the Consolidated Reports of Condition and Income for implementation as of March 31, 2014, and March 31, 2015.  www.fdic.gov/news/news/financial/2014/fil14004.html

January 24, 2014 - FDIC Announces Upcoming Community Affairs Webinar: Savings Strategies During America Saves Week 2014 - The FDIC's Division of Depositor and Consumer Protection Community Affairs Branch will host a webinar titled Savings Strategies During America Saves Week 2014 on February 4, 2014, from 2:30 p.m. to 3:30 p.m.  www.fdic.gov/news/news/financial/2014/fil14005.html

January 24, 2014 - BancFirst, Oklahoma City, Oklahoma, Assumes All of the Deposits of The Bank of Union, El Reno, Oklahoma - The Bank of Union, El Reno, Oklahoma, was closed today by the Oklahoma State Banking Department, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with BancFirst, Oklahoma City, Oklahoma, to assume all of the deposits of The Bank of Union. www.fdic.gov/news/news/press/2014/pr14005.html

January 24, 2014 - Heightened Supervisory Expectations for Recovery and Resolution Preparedness for Certain Large Bank Holding Companies - Supplemental Guidance on Consolidated Supervision Framework for Large Financial Institutions.  www.federalreserve.gov/bankinforeg/srletters/SR1401.htm

January 24, 2014 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

January 24, 2014 - Federal Reserve Board provides additional information on expectations for recovery and resolution preparedness of certain large domestic bank holding companies - The Federal Reserve Board on Friday provided additional information on its expectations for the recovery and resolution preparedness of certain large domestic bank holding companies.  www.federalreserve.gov/newsevents/press/bcreg/20140124a.htm

January 24, 2014 - Index shows economic growth moderated in December - Led by declines in employment- and production-related indicators, the Chicago Fed National Activity Index decreased to +0.16 in December from +0.69 in November.  www.chicagofed.org/digital_assets/publications/cfnai/2014/cfnai_january2014.pdf
______________________________

January 23, 2014 - Gina Marie Lindsey Appointed to the Los Angeles Branch Board of the Federal Reserve Bank of San Francisco - The Federal Reserve Bank of San Francisco has appointed Gina Marie Lindsey, Los Angeles World Airports Executive Director, to its Los Angeles Branch board of directors, effective January 1, 2014. www.frbsf.org/our-district/press/news-releases/2014/lindsey-appointment-los-angeles-branch-board-federal-reserve-san-francisco/

January 23, 2014 - Financial market stress declines for fifth week out of past six - Financial market stress remained below average in the latest reporting week, according to the St. Louis Fed Financial Stress Index. For the week ending Jan. 17, 2014, the STLFSI measured -1.013, modestly less than the previous week’s value of -0.958. The index declined for the fifth week out of the past six weeks. www.stlouisfed.org/newsroom/displayNews.cfm?article=2063

January 23, 2014 - Sigma-Aldrich CEO Joins St. Louis Fed Board - Rakesh Sachdev, president and CEO of Sigma-Aldrich in St. Louis, has been appointed to fill the unexpired portion of a three-year term on the board of directors of the Federal Reserve Bank of St. Louis that ends Dec. 31, 2014. www.stlouisfed.org/newsroom/displayNews.cfm?article=2064

January 23, 2014 - Federal Reserve Board announces termination of enforcement action with Old Second Bancorp, Inc.   www.federalreserve.gov/newsevents/press/enforcement/20140123a.htm

January 23, 2014 - NCUA - January 2014 Board Meeting: NCUA Board Advances Greater Protection and Modern Regulation - The National Credit Union Administration Board convened its first scheduled open meeting of 2014 at the agency’s headquarters here today and unanimously approved four items: www.ncua.gov/about/Pages/Board%20Actions/BAB20140123.aspx

January 23, 2014 - NCUA Debuts Risk-Based Capital Calculator - The National Credit Union Administration has created an innovative online tool to help federally insured credit unions better understand how the proposed changes to the Prompt Corrective Action rule may affect their risk-based capital ratios. www.ncua.gov/News/Pages/NW20140123Calculator.aspx

January 22, 2014 - NCUA Opens First 2014 Grant Round - The National Credit Union Administration will accept applications for its first technical assistance grant round beginning Feb. 3. Low-income designated credit unions can individually receive up to $16,500 in funding for three grant categories.  www.ncua.gov/News/Pages/NW20140122Grants.aspx

January 22, 2014 - Office of the Comptroller of the Currency Hosts Workshop in Los Angeles - The Office of the Comptroller of the Currency will host a workshop in Los Angeles at the Hilton Los Angeles/Universal City, Feb. 10-12, for directors of national community banks and federal savings associations. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-8.html

January 22, 2014 - Federal Reserve Bank of St. Louis commemorates 100 years of service - On January 21-22, 1914, the Reserve Bank Organization Committee came to St. Louis to solicit the views of St. Louis bankers and business leaders to make the case for St. Louis to be a Reserve Bank city. www.stlouisfed.org/newsroom/displayNews.cfm?article=2062

January 22, 2014 - Revisions to the Consolidated Reports of Condition and Income and the FFIEC 101 Report.   www.fdic.gov/news/news/financial/2014/fil14003.html

January 21, 2014 - Forecast: Fastest Economic Growth in Three Years in 2014 - Chicago Fed Letter summarizes the Economic Outlook Symposium's 2014 forecasts, including inflation staying low and unemployment edging down.   www.chicagofed.org/digital_assets/publications/chicago_fed_letter/2014/cflfebruary2014_319.pdf

January 21, 2014 - NCUA Posts 2014 Regulation Review List - The National Credit Union Administration has posted a list of regulations it will review in 2014, and the agency is now accepting public comments on the substance and clarity of each rule. www.ncua.gov/News/Pages/NW20140121RegulationReview.aspx

January 21, 2014 - Brian Rice Appointed to the Portland Branch Board of the Federal Reserve Bank of San Francisco - The Federal Reserve Bank of San Francisco has appointed Brian Rice, KeyBank’s regional president for Alaska, Oregon and Washington, to its Portland Branch board of directors. www.frbsf.org/our-district/press/news-releases/2014/portland-board-federal-reserve-brian-rice/

January 21, 2014 - Glenn Burney Joins St. Louis Fed’s Health Care Industry Council - Glenn Burney, plant manager of Baxter Healthcare, Inc., Mountain Home, Ark., has been named to the Health Care Industry Council of the Federal Reserve Bank of St. Louis. www.stlouisfed.org/newsroom/displayNews.cfm?article=2060

January 17, 2014 - Forecast: Fastest Economic Growth in Three Years in 2014 - Chicago Fed Letter summarizes the Economic Outlook Symposium's 2014 forecasts, including inflation staying low and unemployment edging down. www.chicagofed.org/digital_assets/publications/chicago_fed_letter/2014/cflfebruary2014_319.pdf

January 17, 2014 - OCC Enforcement Actions - The Office of the Comptroller of the Currency today released new enforcement actions taken against national banks, federal savings associations, and individuals currently and formerly affiliated with national banks and federal savings associations. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-6.html

January 17, 2014 - Office of the Comptroller of the Currency Hosts Workshops in Miami - The Office of the Comptroller of the Currency will host two workshops in Miami at the Hyatt Regency Miami, February 4-5, for directors of national community banks and federal savings associations. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-5.html

January 17, 2014 - Regulatory Reform - Communications with the public through January 17, 2014 - The Federal Reserve Board will be involved in many rulemakings to implement the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.  www.federalreserve.gov/newsevents/reform_meetings.htm

January 17, 2014 - Term Structure Modeling with Supply Factors and the Federal Reserve's Large Scale Asset Purchase Programs - Canlin Li and Min Wei - This paper estimates an arbitrage-free term structure model with both observable yield factors and Treasury and Agency MBS supply factors, and uses it to evaluate the term premium effects of the Federal Reserve's large-scale asset purchase programs. www.federalreserve.gov/pubs/feds/2014/201407/201407pap.pdf

January 17, 2014 - Bank Lending Channels during the Great Recession - Samuel Haltenhof, Seung Jung Lee, and Viktors Stebunovs - We study the existence and economic significance of bank lending channels that affect employment in U.S. manufacturing industries.   www.federalreserve.gov/pubs/feds/2014/201406/201406pap.pdf

January 17, 2014 - Idiosyncratic investment risk and business cycles - Jonathan E. Goldberg - I show that, due to imperfect risk sharing, aggregate shocks to uncertainty about idiosyncratic return on investment generate economic contractions with elevated risk premia and a decrease in the risk-free rate. www.federalreserve.gov/pubs/feds/2014/201405/201405pap.pdf

January 17, 2014 - The Surprisingly Swift Decline of U.S. Manufacturing Employment - Justin R. Pierce and Peter K. Schott - This paper finds a link between the sharp drop in U.S. manufacturing employment beginning in 2001 and a change in U.S. trade policy that eliminated potential tariff increases on Chinese imports.  www.federalreserve.gov/pubs/feds/2014/201404/201404pap.pdf

January 17, 2014 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

January 17, 2014 - Payment Systems - 2014 Currency Budget - On December 12, 2013, the Board approved the 2014 currency budget totaling $826.7 million, which represents an increase of $29.1 million, or 3.6 percent, over the approved 2013 budget. www.federalreserve.gov/foia/2014currency.htm

January 17, 2014 - Report to the Congress - Periodic Report Pursuant to Section 129 of the Emergency Economic Stabilization Act of 2008, January 17, 2014.  www.federalreserve.gov/monetarypolicy/files/129periodicupdate20140117.pdf

January 17, 2014 - Legal Interpretation - Change in Bank Control Act, September 17, 2013.   www.federalreserve.gov/bankinforeg/LegalInterpretations/bhc_changeincontrol20130917.pdf

January 17, 2014 - Statistical Release - Industrial Production and Capacity Utilization - G.17 - Industrial production rose 0.3 percent in December, its fifth consecutive monthly increase. For the fourth quarter as a whole, industrial production advanced at an annual rate of 6.8 percent, the largest quarterly increase since the second quarter of 2010; gains were widespread across industries. www.federalreserve.gov/releases/g17/Current/default.htm __________________________

January 16, 2014 - Manufacturing Better Opportunity and a Stronger Economy - This latest blog posting summarizes two economic development forums on workforce development in Wisconsin, co-hosted by the Chicago Fed's Community Development and Policy Studies department, along with the Wisconsin Regional Training Partnership and the Center on Wisconsin Strategy. http://cdps.chicagofedblogs.org/?p=1236

January 16, 2014 - OCC Proposes Formal Guidelines for Its Heightened Expectations for Large Banks - The Office of the Comptroller of the Currency (OCC) today released a proposal setting forth new standards, based on the agency’s heightened expectations program, for large national banks and federal savings associations that would be enforceable under part 30 of its regulations. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-4.html

January 16, 2014 - Financial market stress reaches lowest level in nearly eight months - The St. Louis Fed Financial Stress Index measured -0.950 for the week ending Jan. 10, 2014. The latest value was the index’s lowest level in nearly eight months. The STLFSI remains well above its all-time low of –1.332, which occurred in February 2007. www.stlouisfed.org/newsroom/displayNews.cfm?article=2059

January 16, 2014 - Consolidated Reports of Condition and Income - The Consolidated Reports of Condition and Income for the December 31, 2013, report date must be received by Thursday, January 30, 2014. Certain institutions with foreign offices have an additional five calendar days to submit their reports. www.fdic.gov/news/news/financial/2014/fil14002.pdf 

January 15, 2014 - Fed’s Evans Addresses Iowa Business Leaders - Chicago Fed President Charles Evans was the keynote speaker on January 15 during the Corridor Business Journal’s annual economic forecast luncheon in Coralville, Iowa. www.chicagofed.org/digital_assets/publications/speeches/2014/01_15_14_themes_new_year_print.pdf

January 15, 2014 - NCUA - Matz Appoints Metsger to NeighborWorks America’s Board of Directors - National Credit Union Administration Board Chairman Debbie Matz has appointed Board Member Richard Metsger as NCUA’s representative on the Board of Directors of NeighborWorks America, one of the nation’s preeminent affordable housing and community development organizations. www.ncua.gov/News/Pages/NW20140115Metsger.aspx

January 15, 2014 - OCC Releases 2014 Schedule of Workshops for Directors of National Community Banks and Federal Savings Associations - The Office of the Comptroller of the Currency today announced its 2014 schedule of workshops for directors of national community banks and federal savings associations. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-3.html

January 15, 2014 - 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. The entire Beige Book audio clip is produced in MP3 format.
www.stlouisfed.org/newsroom/displayNews.cfm?article=2057
www.stlouisfed.org/newsroom/displayNews.cfm?article=2058

January 15, 2014 - Beige Book - Informal review by the Federal Reserve Banks of current economic conditions in their Districts.  www.federalreserve.gov/monetarypolicy/beigebook/beigebook201401.htm

January 15, 2014 - Monetary Policy and Real Borrowing Costs and the Zero Lower Bound - Simon Gilchrist, David Lopez-Salido, and Egon Zakrajsek - This paper compares the effects of conventional monetary policy on real borrowing costs with those of the unconventional measures employed after the target federal funds rate hit the zero lower bound.  www.federalreserve.gov/pubs/feds/2014/201403/201403pap.pdf

January 15, 2014 - Michael S. Gibson, Director, Division of Banking Supervision and Regulation - Physical Commodities - Before the Subcommittee on Financial Institutions and Consumer Protection, Committee on Banking, Housing, and Urban Affairs, U.S. Senate, Washington, D.C. www.federalreserve.gov/newsevents/testimony/gibson20140114a.htm

January 14, 2014 - Agencies approve interim final rule authorizing retention of interests in and sponsorship of collateralized debt obligations backed primarily by bank-issued trust preferred securities - Five federal agencies on Tuesday approved an interim final rule to permit banking entities to retain interests in certain collateralized debt obligations backed primarily by trust preferred securities from the investment prohibitions of section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, known as the Volcker rule.
Press Release: Press Release: http://www.federalreserve.gov/newsevents/press/bcreg/20140114b.htm
Press Release: www.fdic.gov/news/news/press/2014/pr14003.html
Press Release: www.occ.gov/news-issuances/news-releases/2014/nr-ia-2014-2.html

January 14, 2014 - Consolidated Reports of Condition and Income for Fourth Quarter 2013.  www.fdic.gov/news/news/financial/2014/fil14001.html

January 14, 2014 - Minutes of the Board's discount rates meetings from November 12 through December 16, 2013.  www.federalreserve.gov/newsevents/press/monetary/monetary20140114a1.pdf

January 14, 2014 - Federal Reserve Board seeks comment to help inform consideration of physical commodity activities by financial holding companies - The Federal Reserve Board on Tuesday sought comment to help inform its consideration of physical commodity activities conducted by financial holding companies, including current authorizations of these activities and the appropriateness of further restrictions. www.federalreserve.gov/newsevents/press/bcreg/20140114a.htm

January 14, 2014 - Federal Reserve Board announces termination of enforcement action with First Southwest Bancorporation, Inc. www.federalreserve.gov/newsevents/press/enforcement/20140114a.htm

January 13, 2014 - Federal Reserve announces approval of application by Wing Lung Bank Ltd. www.federalreserve.gov/newsevents/press/orders/orders20140113a1.pdf

January 10, 2014 - St. Louis Fed’s Bullard Discusses FOMC Forecasts in Recent Years and for 2014 - Federal Reserve Bank of St. Louis President James Bullard discussed “Ghosts of Forecasts Past and Future” at an economic outlook forum hosted by the Indiana Bankers Association on Friday. www.stlouisfed.org/newsroom/displayNews.cfm?article=2053

January 10, 2014 - The insensitivity of investment to interest rates: Evidence from a survey of CFOs - Steve A. Sharpe and Gustavo A. Suarez - A fundamental tenet of investment theory and the traditional theory of monetary policy transmission is that investment expenditures by businesses are negatively affected by interest rates. Yet, a large body of empirical research offer mixed evidence, at best, for a substantial interest-rate effect on investment. www.federalreserve.gov/pubs/feds/2014/201402/201402pap.pdf

January 10, 2014 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

January 10, 2014 - Federal Reserve Board requests comment on proposed revisions to Regulation HH and Payment System Risk policy - The Federal Reserve Board on Friday requested comment on proposed revisions to the Regulation HH risk-management standards for certain financial market utilities that have been designated as systemically important by the Financial Stability Oversight Council, including those for which the Board is the Supervisory Agency pursuant to Title VIII of the Dodd-Frank Wall Street Reform and Consumer Protection Act.  www.federalreserve.gov/newsevents/press/other/20140110b.htm

January 10, 2014 - Agencies Release Public Sections of Resolution Plans - The Federal Reserve Board and the Federal Deposit Insurance Corporation (FDIC) on Friday made available the public portions of resolution plans for 116 institutions that submitted plans for the first time in December 2013, the latest group to file resolution plans with the agencies.
Press release: www.federalreserve.gov/newsevents/press/bcreg/20140109a.htm
Press Release: www.fdic.gov/news/news/press/2014/pr14002.html

January 10, 2014 - Reserve Bank income and expense data and transfers to the Treasury for 2013 - The Federal Reserve Board on Friday announced preliminary unaudited results indicating that the Reserve Banks provided for payments of approximately $77.7 billion of their estimated 2013 net income to the U.S. Treasury. Under the Board's policy, the residual earnings of each Federal Reserve Bank are distributed to the U.S. Treasury, after providing for the costs of operations, payment of dividends, and the amount necessary to equate surplus with capital paid-in. www.federalreserve.gov/newsevents/press/other/20140110a.htm
_____________________

January 9, 2014 - Taming Agricultural Risks - Chicago Fed Letter explores the key risks faced by agricultural producers and lenders, as well as the risk-management tools available to them. http://chicagofed.org/digital_assets/publications/chicago_fed_letter/2014/cfljanuary2014_318b.pdf

January 9, 2014 - Financial market stress up modestly from previous week - The St. Louis Fed Financial Stress Index (STLFSI) rose modestly over the past week, partially reversing last week’s decline. For the week ending Jan. 3, 2014, the STLFSI measured -0.904, up from a reading of -0.934 in the previous week.  www.stlouisfed.org/newsroom/displayNews.cfm?article=2048

January 9, 2014 - Supervision Manuals - Consumer Compliance Handbook, November 2013 update - These manuals are intended to provide guidance to supervisory personnel in planning and conducting inspections and are to be used in conjunction with other supervisory guidance and manuals.   www.federalreserve.gov/boarddocs/supmanual/default.htm

January 9, 2014 - Federal Reserve announces enforcement actions with Tioga State Bank and TransPecos Banks - www.federalreserve.gov/newsevents/press/enforcement/20140109a.htm

January 8, 2014 - Update on Financial Conditions - The NFCI continues to indicate looser-than-average financial conditions, while the ANFCI suggests that financial conditions remain roughly consistent with current economic activity and inflation. -The NFCI ticked up to -0.93 in the week ending January 3, continuing to indicate looser-than-average financial conditions.  http://chicagofed.org/webpages/publications/nfci/index.cfm

January 8, 2014 - What Happens after Detroit’s Bankruptcy? Lessons in Reform - Rick Mattoon - Detroit recently filed for bankruptcy, becoming the largest municipality to seek protection under the U.S. Bankruptcy Code’s Chapter 9. http://chicagofed.org/digital_assets/publications/chicago_fed_letter/2014/cfljanuary2014_318a.pdf

January 8, 2014 - NCUA Chairman Matz to Host Town Hall Webinar with CFPB Director Cordray - National Credit Union Administration Board Chairman Debbie Matz will again host a free town hall webinar with Richard Cordray, Director of the Consumer Financial Protection Bureau, on Wednesday, Feb. 12, beginning at 3 p.m. Eastern. www.ncua.gov/News/Pages/NW20140108TownHall.aspx

January 8, 2014 - Statistical Release - G.19 - In November, consumer credit increased at a seasonally adjusted annual rate of 4-3/4 percent. Revolving credit increased at an annual rate of 1/2 percent, while nonrevolving credit increased at an annual rate of 6-1/2 percent. www.federalreserve.gov/releases/g19/current/default.htm

January 8, 2014 - Minutes of the Federal Open Market Committee, December 17-18, 2013 - The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on December 17-18, 2013.  www.federalreserve.gov/newsevents/press/monetary/20140108b.htm

January 8, 2014 - Federal Reserve offers 28-day term deposits with full allotment at 26 basis points through its Term Deposit Facility.   www.federalreserve.gov/newsevents/press/monetary/20140108a.htm

January 7, 2014 - Economic Outlook Positive, but Accommodative Monetary Policy Still Necessary: San Francisco Fed President - The US economic outlook is gaining traction, but the Fed’s recent scaling back of its bond purchases does not signal an end to accommodative monetary policy, said John C Williams in a speech Tuesday. www.frbsf.org/our-district/press/news-releases/2014/housing-banking-economic-recovery-outlook-speech/

January 7, 2014 - NCUA Hosting Webinar on Examination Modernization - The National Credit Union Administration will host a free webinar, “NCUA Examination Modernization,” on Wednesday, Jan. 22, 2014, at 2 p.m. Eastern. www.ncua.gov/News/Pages/NW20140107Webinar.aspx

January 7, 2014 - NCUA Releases New, Improved Insurance Coverage Estimator - Credit union members will have an easier time getting answers to questions about their share insurance and keeping track of their coverage, thanks to a new and improved online tool announced today by the National Credit Union Administration. www.ncua.gov/News/Pages/NW20140107Estimator.aspx

January 7, 2014 - OCC Assesses a $350 Million Civil Money Penalty Against JPMorgan Chase for Bank Secrecy Act Violations - The Office of the Comptroller of the Currency today announced a $350 million civil money penalty against JPMorgan Chase, N.A.; JPMorgan Bank and Trust Company, N.A.; and Chase Bank USA, N.A., for Bank Secrecy Act violations. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-1.html

January 7, 2014 - A Robust Capital Asset Pricing Model - Doriana Ruffino - We build a market equilibrium theory of asset prices under Knightian uncertainty. Adopting the mean-variance decisionmaking model of Maccheroni, Marinacci, and Ruffino (2013a), we derive explicit demands for assets and formulate a robust version of the two-fund separation theorem. www.federalreserve.gov/pubs/feds/2014/201401/201401pap.pdf

January 7, 2014 - Federal Reserve announces termination of enforcement actions with Cornerstone Holding Company, Inc. and Commerce Bancshares, Inc. www.federalreserve.gov/newsevents/press/enforcement/20140107a.htm

January 6, 2014 - The Rise in Equity Valuation Ratios - Missaka Warusawitharana - Recent discussions by some market participants have noted that a number of equity valuation ratios are elevated. This FEDS Note argues that there has been a secular rise in equity valuation ratios and this rise could reflect changes in discount rates used by investors. www.federalreserve.gov/econresdata/notes/feds-notes/2014/rise-in-equity-valuation-ratios-20130106.html

January 6, 2014 - Senior Credit Officer Opinion Survey on Dealer Financing Terms. www.federalreserve.gov/econresdata/files/SCOOS_201312.pdf

January 3, 2014 - FDIC Issues List of Banks Examined for CRA Compliance - The Federal Deposit Insurance Corporation today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act. www.fdic.gov/news/news/press/2014/pr14001.html

January 3, 2014 - NCUA’s OMWI Director James Retiring - Tawana Y. James, Director of the Office of Minority and Women Inclusion at the National Credit Union Administration, will retire today. www.ncua.gov/News/Pages/NW20140103James.aspx

January 3, 2014 - *Media Advisory* St. Louis Fed President James Bullard Will Speak at Indiana Economic Outlook Forum.   www.stlouisfed.org/newsroom/displayNews.cfm?article=2042

January 3, 2014 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

January 3, 2014 - Chairman Ben S. Bernanke - The Federal Reserve: Looking Back, Looking Forward - At the Annual Meeting of the American Economic Association, Philadelphia, Pennsylvania.  www.federalreserve.gov/newsevents/speech/bernanke20140103a.htm

January 3, 2014 - Governor Jeremy C. Stein - Banks as Patient Debt Investors - At the American Economic Association/American Finance Association Joint Luncheon, Philadelphia, Pennsylvania.  www.federalreserve.gov/newsevents/speech/stein20140103a.htm

January 3, 2014 - Consumer and Community Affairs Director to retire - Sandra Braunstein, director of the Division of Consumer and Community Affairs, will retire on April 1 after nearly 27 years of service with the Federal Reserve Board, including 10 years as the director of the division.   www.federalreserve.gov/newsevents/press/other/20140103a.htm

January 2, 2014 - Financial market stress falls to lowest level in more than seven months - Financial market stress dropped to a seven-month low in the latest reporting week according to the St. Louis Fed Financial Stress Index. www.stlouisfed.org/newsroom/displayNews.cfm?article=2041
_____________________

January 2, 2014 - Financial market stress falls to lowest level in more than seven months - Financial market stress dropped to a seven-month low in the latest reporting week according to the St. Louis Fed Financial Stress Index . For the week ending Dec. 27, 2013, the STLFSI measured -0.927, its lowest level since the week ending May 17, 2013. www.stlouisfed.org/newsroom/displayNews.cfm?article=2041

January 2, 2014 - Legal Developments - Section 19 letters, December 20, December 30 (2 letters), and December 31 (4 letters), 2013. www.federalreserve.gov/bankinforeg/legaldevelopments/ordersother2013.htm