The E-mail Banking News
(Bank Regulatory News)
January 2021

Remote bank regulatory FFIEC IT audits - I am performing virtual/remote bank regality FFIEC IT audits for banks and credit unions.  I am a former bank examiner with years of IT auditing experience.  Please contact R. Kinney Williams at examiner@yennik.com from your bank's email and I will send you information and fees.  All correspondence is confidential.

January 20, 2022 - OCC Enforcement Actions and Terminations - 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/2022/nr-occ-2022-5.html

January 20, 2022 - Federal Reserve Board issues enforcement action with former institution-affiliated party of M&T Bank.   www.federalreserve.gov/newsevents/pressreleases/enforcement20220120a.htm

January 19, 2022 - Civil Money Penalties: Notice Adjusting Maximum Civil Money Penalties for 2022 - On January 12, 2022, the Office of the Comptroller of the Currency published in the Federal Register the attached notice to adjust the maximum amount of each civil money penalty within its jurisdiction pursuant to the Federal Civil Penalties Inflation Adjustment Act of 1990, as amended by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015. www.occ.gov/news-issuances/bulletins/2022/bulletin-2022-1.html

January 19, 2022 - Regulator Relief: Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Tennessee Affected by Severe Storms, Straight-line Winds and Tornadoes - The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Tennessee affected by severe storms, straight-line winds and tornadoes. www.fdic.gov/news/financial-institution-letters/2022/fil22006.html

January 18, 2022 - OCC Conditionally Approves SoFi Bank, National Association - The Office of the Comptroller of the Currency today conditionally approved applications from Social Finance Inc. to create SoFi Bank, National Association, as a full service national bank headquartered in Cottonwood Heights, Utah. www.occ.treas.gov/news-issuances/news-releases/2022/nr-occ-2022-4.html

January 18, 2022 - CSBS Withdraws Legal Challenge to OCC Chartering Figure Bank, N.A. - The Conference of State Bank Supervisors yesterday withdrew its lawsuit filed with the U.S. District Court for the District of Columbia challenging the Office of the Comptroller of the Currency authority to charter an uninsured deposit-taking national bank. www.occ.gov/news-issuances/news-releases/2022/nr-occ-2022-3.html

January 18, 2022 - Statistical Release - Finance Companies - G.20.  www.federalreserve.gov/releases/g20/current/g20.htm

January 18, 2022 - Community Depository Institutions Advisory Council, Record of Meeting - November 18, 2021 - The Community Depository Institutions Advisory Council was established in 2010 by the Board of Governors to provide input to the Board on the economy, lending conditions, and other issues of interest to community depository institutions. www.federalreserve.gov/aboutthefed/cdiac.htm

January 18, 2022 - Federal Advisory Council, Record of Meeting - December 2, 2021 - The Federal Advisory Council , which is composed of twelve representatives of the banking industry, consults with and advises the Board on all matters within the Board's jurisdiction. www.federalreserve.gov/aboutthefed/fac.htm

January 18, 2022 - Federal Reserve Board releases results of survey of senior financial officers at banks about their strategies and practices for managing reserve balances - The Senior Financial Officer Survey is used by the Board to obtain information about deposit pricing and behavior, bank liability management, the provision of financial services, and reserve management strategies and practices. www.federalreserve.gov/newsevents/pressreleases/other20220118a.htm

January 18, 2022 - Federal Reserve Board issues enforcement action with Allegiant United Holdings, LLC, Nano Financial Holdings, Inc., and Nano Banc, and announces termination of enforcement actions with Iowa Prairie Bank and Mariner's Bancorp.  www.federalreserve.gov/newsevents/pressreleases/enforcement20220118a.htm

January 14, 2022 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

January 14, 2022 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at 10:30 a.m. on . Matter(s) considered: Periodic Briefing and Discussion on Financial Markets, Institutions, and Infrastructure. www.federalreserve.gov/aboutthefed/boardmeetings/20220114closed.htm

January 14, 2022 - A Macroprudential Perspective on the Regulatory Boundaries of U.S. Financial Assets - David M. Arseneau, Grace Brang, Matt Darst, Jacob M. M. Faber, David E. Rappoport, and Alexandros Vardoulakis - This paper uses data from the Financial Accounts of the United States to map out the regulatory boundaries of assets held by U.S. financial institutions from a macroprudential perspective. www.federalreserve.gov/econres/feds/a-macroprudential-perspective-on-the-regulatory-boundaries-of-us-financial-assets.htm 

January 14, 2022 - Federal Open Market Committee - 2016 FOMC meeting transcripts, presentation materials, Tealbooks, SEP individual projections, and SEP participant keys.   www.federalreserve.gov/monetarypolicy/fomchistorical2016.htm

January 14, 2022 - No FEAR Act - Quarterly Update - The Notification and Federal Employee Anti-discrimination and Retaliation Act of 2002 increases federal agency accountability for acts of discrimination or reprisal against employees. www.federalreserve.gov/eeo.htm

January 14, 2022 - Statistical Release - Industrial Production and Capacity Utilization - G.17 - Industrial production declined 0.1 percent in December. Losses of 0.3 percent for manufacturing and 1.5 percent for utilities were mostly offset by a gain of 2.0 percent for mining. www.federalreserve.gov/releases/g17/Current/

January 14, 2022 - Federal Reserve Board announces approval of application by BAWAG P.S.K. Bank für Arbeit und Wirtschaft und Österreichische Postsparkasse Aktiengesellschaft.   www.federalreserve.gov/newsevents/pressreleases/orders20220114a.htm

January 14, 2022 - Federal Reserve Board announces Reserve Bank income and expense data and transfers to the Treasury for 2021 - The Federal Reserve Board on Friday announced preliminary financial information indicating that the Reserve Banks had estimated net income of $107.8 billion during 2021, of which $107.4 billion was remitted to the U.S. Treasury as required under the Federal Reserve Act. www.federalreserve.gov/newsevents/pressreleases/other20220114a.htm

January 13, 2022 - Nebraska Home Prices Surging Amid Strong Demand and Limited Supply - Home prices in Nebraska have surged to all-time highs over the past two years. www.kansascityfed.org/omaha/nebraska-economist/Nebraska-Home-Prices-Surging-Amid-Strong-Demand-and-Limited-Supply/

January 13, 2022 - Milwaukee Business Journa - President Charles Evans participated in a moderated Q&A with the Milwaukee Business Journal on Thursday, January 13, at 12:00 p.m. CT. www.chicagofed.org/publications/speeches/2022/january-13-milwaukee-business-journal
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January 13, 2022 - Chicago Fed Announces Board Updates - The Federal Reserve Bank of Chicago today announced the re-election of one Director, election of one Director, appointment of one Director, appointment of the Board Chair and Deputy Chair, re-appointment of one Detroit Branch Director, appointment of three Detroit Branch Directors, appointment of the Detroit Branch Chair, and the appointment of the Federal Advisory Council representative. www.chicagofed.org/publications/news/2022/chicago-fed-announces-board-updates

January 13, 2022 - Apply to become a member of the Chicago Fed’s Advisory Council - The Advisory Council on Small Business, Community and Economic Development, Agriculture and Labor comprises diverse leaders who are experts in a broad range of industries or come from organizations that serve vulnerable populations. www.chicagofed.org/people/advisory-council

January 13, 2022 - Acting Comptroller Discusses Crypto-Assets and Regulation - Acting Comptroller of the Currency Michael J. Hsu today discussed the regulation of stablecoins and other crypto-assets before the BritishAmerican Business Transatlantic Finance Forum 2021-2022 Executive Roundtable. www.occ.gov/news-issuances/news-releases/2022/nr-occ-2022-2.html

January 13, 2022 - Statistical Release - Structure and Share Data for U.S. Banking Offices of Foreign Entities - There are two reports showing the same structure and asset information for each U.S. office, but in different orders. www.federalreserve.gov/releases/iba/default.htm

January 13, 2022 - Advanced Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System will be held under expedited procedures at 11:30 a.m. on January 18, 2022. Matter(s) considered: Review and determination by the Board of Governors of the advance and discount rates to be charged by the Federal Reserve Banks. www.federalreserve.gov/aboutthefed/boardmeetings/20220118closed.htm

January 13, 2022 - Testimony by Governor Brainard at her nomination hearing Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate, Washington, D.C. www.federalreserve.gov/newsevents/testimony/brainard20220113a.htm

January 12, 2022 - Global Supply Chain Disruptions Can Be Seen Anywhere, but Their Costs Are Not the Same Everywhere - Although ubiquitous, supply chain challenges are exerting more cost pressures on the types of businesses concentrated in the Tenth Federal Reserve District. Businesses in the region are less willing or able to adjust the amount of imported goods they purchase even when procurement prices rise precipitously, as they have over the past year. www.kansascityfed.org/research/economic-bulletin/global-supply-chain-disruptions-can-be-seen-anywhere-but-their-costs-are-not-the-same-everywhere/

January 12, 2022 - Smaller Loans Limit Agricultural Lending - Smaller sized loans limited agricultural lending activity at the end of 2021. www.kansascityfed.org/agriculture/agfinance-updates/Smaller-Loans-Limit-Agricultural-Lending/

January 12, 2022 - Regulator Relief: Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Washington Affected by Flooding and Mudslides - The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Washington affected by flooding and mudslides. www.fdic.gov/news/financial-institution-letters/2022/fil22005.html

January 12, 2022 - Beige Book - Informal review by the Federal Reserve Banks of current economic conditions in their Districts. www.federalreserve.gov/monetarypolicy/beige-book-default.htm

January 11, 2022 - NCUA Extends Credit Union Diversity Self-Assessment Deadline to Jan. 31 - To allow federally insured credit unions more time to complete and submit the voluntary Credit Union Diversity Self-Assessment, the National Credit Union Administration has extended the deadline from Jan. 15 to Jan. 31, 2022. www.ncua.gov/newsroom/press-release/2022/ncua-extends-credit-union-diversity-self-assessment-deadline-jan-31

January 11, 2022 - Unauthorized Banking: Fedro Asset Bank, N.A. and Ledge Community Credit Union, N.A. - The Office of the Comptroller of the Currency has been informed by the State of Florida’s Office of Financial Regulation that entities using a multitude of fictitious names and websites are purporting to offer banking services in Florida. www.occ.gov/news-issuances/alerts/2022/alert-2022-2.html

January 11, 2022 - The KC Fed LMCI suggests the level of activity increased slightly in December, while momentum was little changed - The level of activity indicator increased by 0.05 in December from 1.32 to 1.38. www.kansascityfed.org/data-and-trends/lmci/current-release/

January 11, 2022 - Joint Release/FDIC and FinCEN Launch Digital Identity Tech Sprint - The Federal Deposit Insurance Corporation and the Financial Crimes Enforcement Network today announced a Tech Sprint to develop solutions for financial institutions and regulators to help measure the effectiveness of digital identity proofing—the process used to collect, validate, and verify information about a person. www.fdic.gov/news/press-releases/2022/pr22003.html

January 11, 2022 - Report and Disclosures on Funding, Credit, Liquidity, and Loan Facilities - The Federal Reserve filed these reports with Congress pursuant to section 13(3) of the Federal Reserve Act concerning the lending facilities established by the Board. www.federalreserve.gov/publications/reports-to-congress-in-response-to-covid-19.htm

January 11, 2022 - Testimony by Chair Powell at his nomination hearing Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate, Washington, D.C. www.federalreserve.gov/newsevents/testimony/powell20220111a.htm

January 11, 2022 - Minutes of the Board's discount rate meetings on December 6 and December 15, 2021.  www.federalreserve.gov/newsevents/pressreleases/monetary20220111a.htm

January 10, 2022 - Richard H. Clarida announces his intention to resign from the Board of Governors of the Federal Reserve System on January 14, 2022 - He has been a member of the Board and Vice Chair since September 17, 2018. www.federalreserve.gov/newsevents/pressreleases/other20220110a.htm

January 10, 2022 - Federal Reserve Board finalizes technical rule that will streamline reporting requirements for member banks related to their subscriptions to Federal Reserve Bank capital stock - In particular, the final rule amends Regulation I to reduce the quarterly reporting burden for member banks by automating the application process for adjusting their subscriptions to Federal Reserve Bank capital stock, except in the context of mergers. www.federalreserve.gov/newsevents/pressreleases/bcreg20220110a.htm

January 7, 2022 - Energy Survey - Tenth District energy activity expanded moderately from a quarter ago and increased further from year-ago levels. https://www.kansascityfed.org/surveys/energy-survey/tenth-district-energy-activity-expanded-moderately-q42021/

January 7, 2022 - Consolidated Reports of Condition and Income for Fourth Quarter 2021 - The attached materials pertain to the Consolidated Reports of Condition and Income for the December 31, 2021, report date and provide guidance on certain reporting issues. www.fdic.gov/news/financial-institution-letters/2022/fil22003.html

January 7, 2022 - Statistical Release - Consumer Credit - G.19 - In November, consumer credit increased at a seasonally adjusted annual rate of 11.0 percent. www.federalreserve.gov/releases/g19/current/default.htm

January 7, 2022 - FOIA - Chair Powell's calendar, November 2021.  www.federalreserve.gov/foia/chairman-powell-calendar.htm

January 7, 2022 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update.  www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

January 7, 2022 - Statistical Release - Household Debt Service and Financial Obligations Ratios.  www.federalreserve.gov/releases/housedebt/default.htm

January 6, 2022 - St. Louis Fed’s Bullard Discusses “The Initial Response to the Inflation Shock of 2021” - Bullard told the society that the U.S. pandemic recession ended 20 months ago, and that U.S. real gross domestic product has more than fully recovered and labor market performance continues to improve. www.stlouisfed.org/news-releases/2022/01/06/bullard-discusses-initial-response-inflation-shock

January 5, 2022 - Kansas City Fed announces director election results and appointments - The Federal Reserve Bank of Kansas City announces director election results and appointments to fill seats on its headquarters office and branch boards of directors. www.kansascityfed.org/newsroom/2022-news-releases/kansas-city-fed-announces-director-election-results-and-appointments/
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January 29, 2021 - Brave-Butters-Kelley Indexes Point to Slower, but Still Above-Trend Growth in December - The Brave-Butters-Kelley Coincident Index was 0.9 standard deviations from trend growth in December 2020, and the BBK Leading Index was 0.4 standard deviations from trend growth. www.chicagofed.org/~/media/publications/bbki/2020/bbki-december2020-pdf.pdf

January 29, 2021 - NCUA Issues Two Prohibition Notices in January - These individuals are prohibited from participating in the affairs of any federally insured financial institution. www.ncua.gov/newsroom/press-release/2021/ncua-issues-two-prohibition-notices

January 29, 2021 - OCC Releases Community Reinvestment Act Bank Type Determinations, Distressed and Underserved Areas, and Banking Industry Compensation Value - The Office of the Comptroller of the Currency today announced the availability of the 2021 list of bank type determinations, the 2021 list of distressed and underserved areas, and the banking industry median hourly compensation value. www.occ.treas.gov/news-issuances/news-releases/2021/nr-occ-2021-16.html

January 29, 2021 - OCC Promotes Earned Income Tax Credit Awareness Day - In an effort to make more eligible working families aware of the benefits of the earned income tax credit, the Office of the Comptroller of the Currency is promoting the 15th annual EITC Awareness Day on January 29. www.occ.treas.gov/news-issuances/news-releases/2021/nr-occ-2021-15.html

January 29, 2021 - OCC Releases Community Reinvestment Act Bank Type Determinations, Distressed and Underserved Areas, and Banking Industry Compensation Value.  www.occ.gov/news-issuances/news-releases/2021/nr-occ-2021-16.html

January 29, 2021 - Removal of Transferred OTS Regulations Regarding Securities Offerings of State Savings Associations, Rescission of Statement of Policy on the Use of Offering Circulars, Proposed Rulemaking Regarding Securities Offerings by State Nonmember Banks and State Savings Associations, and Other Technical Amendments.  www.fdic.gov/news/financial-institution-letters/2021/fil21006.html

January 29, 2021 - FDIC Reopens and Extends the Public Comment Period on the Proposed Mergers of First-Citizens Bank & Trust Company with CIT Group, Inc., and its Subsidiary, CIT Bank, National Association.  https://www.fdic.gov/news/press-releases/2021/pr21007.html

January 29, 2021 - FDIC Makes Public December Enforcement Actions - The FDIC issued 10 orders in December 2020. www.fdic.gov/news/press-releases/2021/pr21006.html

January 29, 2021 - Legal Interpretations - Bank Holding Company Act, December 21, 2020.,  www.federalreserve.gov/supervisionreg/legalinterpretations/bhc_changeincontrol2020.htm

January 29, 2021 - Annual Performance Plan, January 2021 - The Government Performance and Results Act of 1993 requires federal agencies to prepare a strategic plan covering a multiyear period and requires each agency to submit an annual performance plan and an annual performance report. www.federalreserve.gov/publications/gpra.htm

January 29, 2021 - Misallocation in Open Economy - Maria D. Tito and Ruoying Wang - This paper estimates the impact of reducing export and import tariffs on firm input choices. www.federalreserve.gov/econres/feds/misallocation-in-open-economy.htm

January 29, 2021 - Bunching estimation of elasticities using Stata - Marinho Bertanha, Andrew H. McCallum, Alexis Payne, and Nathan Seegert - A continuous distribution of agents that face a piecewise-linear schedule of incentives results in a distribution of responses with mass points located where the slope (kink) or intercept (notch) of the schedule changes. www.federalreserve.gov/econres/feds/bunching-estimation-of-elasticities-using-stata.htm

January 29, 2021 - Politicians Avoid Tax Increases Around Elections - Andrew C. Chang, Linda R. Cohen, Amihai Glazer, and Urbashee Paul - We use new annual data on gasoline taxes and corporate income taxes from U.S. states to analyze whether politicians avoid tax increases in election years. https://www.federalreserve.gov/econres/feds/politicians-avoid-tax-increases-around-elections.htm

January 29, 2021 - Structure and Share Data for U.S. Banking Offices of Foreign Entities,  www.federalreserve.gov/releases/iba/default.htm

January 29, 2021 - Credit and Liquidity Programs and the Balance Sheet Recent balance sheet trends, weekly chart update.  www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

January 29, 2021 - The Financial (In)Stability Real Interest Rate, R**- We introduce the concept of financial stability real interest rate using a macroeconomic banking model with an occasionally binding financing constraint as in Gertler and Kiyotaki (2010). www.federalreserve.gov/econres/ifdp/the-financial-instability-of-real-interest-rate.htm

January 28, 2021 - St. Louis Fed Earns Perfect Score on Corporate Equality Index - The index is released annually by the Human Rights Campaign Foundation, the educational arm of America's largest civil rights organization, working to achieve equality for lesbian, gay, bisexual, transgender and queer people. www.stlouisfed.org/news-releases/2021/01/28/st-louis-fed-perfect-score-cei
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January 28, 2021 - Midwest Economy Index Suggests Slower, but Still Above-Trend Growth Through December - The Midwest Economy Index, which approximates quarterly growth at a monthly frequency, fell to +1.26 in December from +1.83 in November. www.chicagofed.org/~/media/publications/mei/2020/mei-december2020-pdf.pdf

January 28, 2021 - Bridging the Digital Divide for an Inclusive Future - The economic future of both urban and rural places depends on overcoming the digital divide. www.chicagofed.org/events/project-hometown/digital-divide

January 28, 2021 - OCC Puts Hold on Fair Access Rule - The Office of the Comptroller of the Currency today announced it has paused publication of its rule to ensure large banks provide all customers fair access to their services. www.occ.gov/news-issuances/news-releases/2021/nr-occ-2021-14.html

January 27, 2021 - Federal Open Market Committee reaffirms its "Statement on Longer-Run Goals and Monetary Policy Strategy" - The reaffirmed statement is identical to the statement adopted in August 2020 following the Committee's review of its monetary policy strategy, tools, and communication practices, which included numerous public Fed Listens events around the country. www.federalreserve.gov/newsevents/pressreleases/monetary20210127b.htm

January 27, 2021 - Federal Reserve issues FOMC statement - The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals. www.federalreserve.gov/newsevents/pressreleases/monetary20210127a.htm

January 27, 2021 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at on January 26, 2021 and continued at 9:00 a.m. on January 27, 2021. Matter(s) considered: Discussion of Monetary Policy Issues. www.federalreserve.gov/aboutthefed/boardmeetings/20210126closed.htm

January 26, 2021 - NCUA - Hauptman, Hood Congratulate Harper on Being Named NCUA Board Chairman.  www.ncua.gov/newsroom/press-release/2021/hauptman-hood-congratulate-harper-being-named-ncua-board-chairman

January 25, 2021 - Chicago Fed National Activity Index Points to an Uptick in Economic Growth in December - Led by improvements in production-related indicators, the Chicago Fed National Activity Index increased to +0.52 in December from +0.31 in November. www.chicagofed.org/~/media/publications/cfnai/2021/cfnai-january2021-pdf.pdf

January 25, 2021 - NCUA - Harper Named NCUA Board Chairman - President Joseph R. Biden, Jr. has designated National Credit Union Administration Board Member Todd M. Harper as the twelfth Chairman of the NCUA Board. www.ncua.gov/newsroom/press-release/2021/harper-named-ncua-board-chairman

January 22, 2021 - Advanced Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System will be held under expedited procedures at 1:00 p.m. on January 26, 2021. Matter(s) considered: Discussion of Monetary Policy Issues. www.federalreserve.gov/recentpostings.htm

January 22, 2021 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update.  www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm 

January 22, 2021 - Federal Reserve Board announces that the public comment period for the application by First Citizens BancShares, Inc. to acquire CIT Group, Inc. has been extended through February 22, 2021 www.federalreserve.gov/newsevents/pressreleases/orders20210122a.htm

January 21, 2021 - Federal Reserve Board approves reappointment of Reserve Bank presidents and first vice presidents - The Federal Reserve Board on Thursday announced the approval of the reappointment of 12 Federal Reserve Bank presidents and 11 first vice presidents, as previously made by their respective boards of directors. www.federalreserve.gov/newsevents/pressreleases/other20210121a.htm
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January 21, 2021 - OCC Enforcement Actions and Terminations - 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/2021/nr-occ-2021-13.html

January 19, 2021 - Answers to Frequently Asked Questions Regarding Suspicious Activity Reporting and Other Anti-Money Laundering Considerations - Financial institutions, including those supervised by the Federal Reserve1, have a legal obligation to report suspicious activity.
Press Release: www.federalreserve.gov/supervisionreg/srletters/SR2102.htm
Press Release: www.fdic.gov/news/financial-institution-letters/2021/fil21005.html
Press Release: www.ncua.gov/newsroom/press-release/2021/ncua-federal-banking-agencies-fincen-issue-faqs-sar-and-other-aml-requirements
Press Release: www.occ.treas.gov/news-issuances/bulletins/2021/bulletin-2021-4.html

January 19, 2021 - NCUA�s Accomplishments Marked by Regulatory Relief, Financial Inclusion, Response to COVID-19 - National Credit Union Administration Chairman Rodney E. Hood released today selected accomplishments since he was sworn in as the eleventh Chairman of the NCUA in April 2019. www.ncua.gov/newsroom/press-release/2021/ncuas-accomplishments-marked-regulatory-relief-financial-inclusion-response-covid-19

January 19, 2021 - NCUA - Chairman Hood�s Statement on Deputy Chief of Staff Gisele Roget - Roget has served in her Deputy Chief of Staff role since joining the agency in 2019, where she advised Chairman Hood on policy, communications, and congressional engagement.  www.ncua.gov/newsroom/press-release/2021/chairman-hoods-statement-deputy-chief-staff-gisele-roget

January 19, 2021 - NCUA Board Approves Final Rule on the Role of Supervisory Guidance - The National Credit Union Administration Board unanimously approved today by notation vote a final rule that outlines and confirms the agency�s use of supervisory guidance. www.ncua.gov/newsroom/press-release/2021/ncua-board-approves-final-rule-role-supervisory-guidance

January 19, 2021 - OCC Approves Final Rule on Supervisory Guidance - The final rule codifies a statement, as amended, that was issued by the OCC, Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, National Credit Union Administration, and Bureau of Consumer Financial Protection on September 11, 2018. www.occ.gov/news-issuances/news-releases/2021/nr-occ-2021-12.html

January 19, 2021 - OCC Publication Focuses on Bank Investments in Opportunity Zones - This edition of Community Developments Investments explains how banks can support distressed communities by making investments in tax-advantaged qualified opportunity funds as part of their community development strategies. www.occ.gov/news-issuances/news-releases/2021/nr-occ-2021-11.html

January 19, 2021 - Revised Guidelines for Appeals of Material Supervisory Determinations - The revised guidelines are intended to enhance the independence of appeals decisions and to clarify the procedures and timeframes that apply to appeals when the FDIC is taking a formal enforcement action. www.fdic.gov/news/financial-institution-letters/2021/fil21004.html

January 19, 2021 - FDIC Approves Rule on the Role of Supervisory Guidance - The Federal Deposit Insurance Corporation approved a final rule outlining and confirming the agency�s use of supervisory guidance for regulated institutions. www.fdic.gov/news/press-releases/2021/pr21005.html

January 19, 2021 - Statistical Release - Finance Companies - G.20.  www.federalreserve.gov/releases/g20/current/g20.htm

January 19, 2021 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at 11:15 a.m. on January 19, 2021. Matter(s) considered: Review and determination by the Board of Governors of the advance and discount rates to be charged by the Federal Reserve Banks. www.federalreserve.gov/aboutthefed/boardmeetings/20210119closed.htm

January 19, 2021 - Federal Reserve Board finalizes a rule that updates the Board's capital planning requirements to be consistent with other Board rules that were recently modified - In 2019, the Board finalized a framework that sorts large banks into different categories based on their risks, with requirements that are tailored to the risks of each category. www.federalreserve.gov/newsevents/pressreleases/bcreg20210119a.htm

January 15, 2021 - NCUA Chairman Hood�s Statement on Former Acting Comptroller of the Currency Brian Brooks.  www.ncua.gov/newsroom/press-release/2021/ncua-chairman-hoods-statement-former-acting-comptroller-currency-brian-brooks

January 15, 2021 - NCUA Names Frank Kressman General Counsel, Melane Conyers-Ausbrooks Board Secretary.  www.ncua.gov/newsroom/press-release/2021/ncua-names-frank-kressman-general-counsel-melane-conyers-ausbrooks-board-secretary

January 15, 2021 - OCC Fines Former Wells Fargo General Counsel $3.5 Million in Settlement - The Office of the Comptroller of the Currency today announced it has assessed a $3.5 million penalty against James Strother for his role in Wells Fargo Bank, N.A.'s systemic sales practices misconduct. www.occ.gov/news-issuances/news-releases/2021/nr-occ-2021-10.html

January 15, 2021 - New Chair and Membership Appointments Announced for the Federal Reserve Bank of San Francisco�s Economic Advisory Council - he Federal Reserve Bank of San Francisco announced a new chair and the newest members of the Twelfth District�s Economic Advisory Council. www.frbsf.org/our-district/press/news-releases/2021/new-chair-membership-appointments-announced-federal-reserve-bank-of-san-franciscos-economic-advisory-council/ 

January 15, 2021 - Consolidated Reports of Condition and Income for Fourth Quarter 2020 - The attached materials pertain to the Consolidated Reports of Condition and Income for the December 31, 2020, report date. www.fdic.gov/news/financial-institution-letters/2021/fil21002.html

January 15, 2021 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at on January 15, 2021. Matter(s) considered: Periodic Briefing and Discussion on Financial Markets, Institutions, and Infrastructure. www.federalreserve.gov/aboutthefed/boardmeetings/20210115closeda.htm

January 15, 2021 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update.  www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

January 15, 2021 - Ten Days Late and Billions of Dollars Short: The Employment Effects of Delays in Paycheck Protection Program Financing - Cynthia L. Doniger and Benjamin Kay - Delay in the provision of Paycheck Protection Program loans due to insufficient initial funding under the CARES Act substantially and persistently reduced employment. www.federalreserve.gov/econres/feds/the-employment-effects-of-delays-in-paycheck-protection-program-financing.htm

January 15, 2021 - Community Depository Institutions Advisory Council, Record of Meeting - November 19, 2020 - The Community Depository Institutions Advisory Council was established in 2010 by the Board of Governors to provide input to the Board on the economy, lending conditions, and other issues of interest to community depository institutions. www.federalreserve.gov/aboutthefed/cdiac.htm

January 15, 2021 - Statistical Release - Industrial Production and Capacity Utilization - G.17- Industrial production advanced 1.6 percent in December, with gains of 0.9 percent for manufacturing, 1.6 percent for mining, and 6.2 percent for utilities. www.federalreserve.gov/releases/g17/current/default.htm

January 14, 2021 - NCUA - Board Approves Proposals on Risk-Based Capital, CAMEL System, and CUSO Lending.  www.ncua.gov/newsroom/press-release/2021/board-approves-proposals-risk-based-capital-camel-system-and-cuso-lending

January 14, 2021 - NCUA - Indianapolis� Newspaper Federal Credit Union Conserved - The National Credit Union Administration today placed Indianapolis� Newspaper Federal Credit Union in Indianapolis, Indiana, into conservatorship. www.ncua.gov/newsroom/press-release/2021/indianapolis-newspaper-federal-credit-union-conserved

January 14, 2021 - NCUA and CFPB Sign Memorandum of Understanding - he National Credit Union Administration and the Consumer Financial Protection Bureau announced a memorandum of understanding agreement to improve coordination between the agencies related to the consumer protection supervision of credit unions over $10 billion dollars in assets. www.ncua.gov/newsroom/press-release/2021/ncua-and-cfpb-sign-memorandum-understanding

January 14, 2021 - New Chair and Membership Appointments Announced for the Federal Reserve Bank of San Francisco�s Community Advisory Council - The Federal Reserve Bank of San Francisco announced a new chair and the newest members of the Twelfth District�s Community Advisory Council, whose two-year terms are effective January 1, 2021. www.frbsf.org/our-district/press/news-releases/2021/new-chair-membership-appointments-announced-federal-reserve-bank-of-san-franciscos-community-advisory-council/

January 14, 2021 - New Chair and Membership Appointment Announced for the Federal Reserve Bank of San Francisco�s Community Depository Institutions Advisory Council.   www.frbsf.org/our-district/press/news-releases/2021/new-chair-membership-appointment-announced-for-federal-reserve-bank-of-san-franciscos-community-depository-institutions-advisory-council/
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January 14, 2021 - Did Covid-19 Disproportionately Affect Mothers� Labor Market Activity? By Daniel Aaronson , Luojia Hu , Aastha Rajan - School and day care center restrictions during the Covid-19 pandemic have presented enormous challenges to parents trying to juggle work with child-care responsibilities. www.chicagofed.org/publications/chicago-fed-letter/2021/450

January 14, 2021 - Climate Change Risk in Financial Markets: Advancing the Conversation in 2021 - The Federal Reserve Bank of Chicago�s Financial Markets Group is opening 2021 with a conversation on climate change risk in financial markets. www.chicagofed.org/research/fmg

January 14, 2021 - OCC Releases 2021 Schedule of Virtual Bank Director Workshops - The Office of the Comptroller of the Currency today announced its 2021 schedule of free, virtual workshops for board of directors of national banks and federal savings associations. www.occ.treas.gov/news-issuances/news-releases/2021/nr-occ-2021-9.html

January 14, 2021 - OCC Finalizes Rule Requiring Large Banks to Provide Fair Access to Bank Services, Capital, and Credit - The Office of the Comptroller of the Currency today released its finalized rule to ensure fair access to banking services provided by large national banks, federal savings associations, and federal branches and agencies of foreign bank organizations. www.occ.treas.gov/news-issuances/news-releases/2021/nr-occ-2021-8.html

January 14, 2021 - OCC Releases 2021 Schedule of Virtual Bank Director Workshops - The Office of the Comptroller of the Currency today announced its 2021 schedule of free, virtual workshops for board of directors of national banks and federal savings associations. www.occ.gov/news-issuances/news-releases/2021/nr-occ-2021-9.html

January 14, 2021 - St. Louis Fed Accepting Applications for 2021-22 Student Board of Directors - The student board of directors program offers high school seniors in the St. Louis area, including the Metro East, a dynamic way to learn about the nation's central bank. www.stlouisfed.org/news-releases/2021/01/14/stlouisfed-accepting-applications-student-board-directors

January 14, 2021 - Advanced Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System will be held under expedited procedures at 11:30 a.m. on January 19, 2021. Matter(s) considered: Review and determination by the Board of Governors of the advance and discount rates to be charged by the Federal Reserve Banks. www.federalreserve.gov/aboutthefed/boardmeetings/20210119closed.htm

January 13, 2021 - Brian P. Brooks to Step Down, Blake Paulson to Become Acting Comptroller of the Currency on January 14, 2021.  www.occ.gov/news-issuances/news-releases/2021/nr-occ-2021-7.html

January 13, 2021 - Chicago Fed Survey of Business Conditions - The Chicago Fed Survey of Business Conditions Activity Index decreased to �23 in December from a neutral value in November, suggesting that economic growth was below trend. www.chicagofed.org/~/media/publications/cfsbc/2021/cfsbc-january2021-pdf.pdf

January 13, 2021 - Civil Money Penalties: Notice Adjusting Maximum Civil Money Penalties for 2021 - On December 31, 2020, the Office of the Comptroller of the Currency published in the Federal Register the attached notice to adjust the maximum amount of each civil money penalty within its jurisdiction pursuant to the Federal Civil Penalties Inflation Adjustment Act of 1990, as amended by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015. www.occ.treas.gov/news-issuances/bulletins/2021/bulletin-2021-2.html

January 13, 2021 - OCC Conditionally Approves Conversion of Anchorage Digital Bank - The Office of the Comptroller of the Currency today announced conditional approval of the conversion of Anchorage Trust Company, a South Dakota chartered trust company, to become Anchorage Digital Bank, National Association. www.occ.gov/news-issuances/news-releases/2021/nr-occ-2021-6.html

January 13, 2021 - FRB/US dataset and variable listing - January 13, 2021 update - The FRB/US model is a large-scale estimated general equilibrium model of the U.S. economy that has been in use at the Federal Reserve Board since 1996. www.federalreserve.gov/econres/us-models-about.htm 

January 13, 2021 - Beige Book - Informal review by the Federal Reserve Banks of current economic conditions in their Districts. www.federalreserve.gov/monetarypolicy/beige-book-default.htm

January 13, 2021 - Advanced Notice of a Portion of a Meeting under Expedited Procedures - A portion of a closed meeting of the Board of Governors of the Federal Reserve System will be held under expedited procedures at 10:00 a.m. on January 15, 2021. Matter(s) considered: Periodic Briefing and Discussion on Financial Markets, Institutions, and Infrastructure. www.federalreserve.gov/recentpostings.htm

January 13, 2021 - Speech by Governor Brainard on full employment in the new monetary policy framework At the Inaugural Mike McCracken Lecture on Full Employment Sponsored by the Canadian Association for Business Economics.  www.federalreserve.gov/newsevents/speech/brainard20210113a.htm

January 13, 2021 - Speech by Vice Chair Clarida on the Federal Reserve's new framework - At the "The Road Ahead for Central Banks," a seminar sponsored by the Hoover Economic Policy Working Group, Hoover Institution, Stanford, California. www.federalreserve.gov/newsevents/speech/clarida20210113a.htm

January 12, 2021 - NCUA Will Open Streamlined CDFI Application Round Jan. 24 - Federally insured, low-income credit unions seeking Community Development Financial Institution certification can apply to use the National Credit Union Administration�s streamlined qualification process beginning Jan. 24. www.ncua.gov/newsroom/press-release/2021/ncua-will-open-streamlined-cdfi-application-round-jan-24

January 12, 2021 - NCUA - Lowden Named Deputy Chief Financial Officer - The National Credit Union Administration today announced the selection of Melissa M. Lowden as the agency�s next Deputy Chief Financial Officer, effective January 17, 2021. www.ncua.gov/newsroom/press-release/2021/lowden-named-deputy-chief-financial-officer

January 12, 2021 - In the Wake of an Unprecedented Year By Esther George President and Chief Executive Officer Federal Reserve Bank of Kansas City.  www.kansascityfed.org/~/media/files/publicat/speeches/2021/2021-george-centralexchange-1-12.pdf

January 12, 2021 - Federal Reserve Bank of San Francisco Announces Appointment of Nandita Bakhshi to the Federal Advisory Council - The Federal Reserve Bank of San Francisco has announced the appointment of Nandita Bakhshi, president and chief executive officer of Bank of the West and co-chief executive officer of BNP Paribas USA Inc., to represent the 12th District on the Federal Advisory Council for a one-year term. www.frbsf.org/our-district/press/news-releases/2021/federal-reserve-bank-of-san-francisco-announces-appointment-of-nandita-bakhshi-to-the-federal-advisory-council/

January 12, 2021 - St. Louis Fed Hosts Women in Economics Virtual Event for High School, College Students - Economics can influence public policy, shape business strategies and guide personal decisions. www.stlouisfed.org/news-releases/2021/01/11/women-economics-virtual-event-high-school-college

January 12, 2021 - Better Bunching, Nicer Notching - Marinho Bertanha, Andrew H. McCallum, and Nathan Seegert - We study the bunching identification strategy for an elasticity parameter that summarizes agents' response to changes in slope (kink) or intercept (notch) of a schedule of incentives. www.federalreserve.gov/econres/feds/better-bunching-nicer-notching.htm

January 12, 2021 - Communications With The Public- 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/regreform/communications-with-public.htm

January 12, 2021 - Speech by Governor Brainard on supporting responsible use of AI and equitable outcomes in financial services Governor Lael Brainard At the AI Academic Symposium hosted by the Board of Governors of the Federal Reserve System, Washington, D.C. www.federalreserve.gov/newsevents/speech/brainard20210112a.htm

January 12, 2021 - Minutes of the Board's discount rate meetings from November 16 through December 16, 2020. www.federalreserve.gov/newsevents/pressreleases/monetary20210112a.htm

January 11, 2021 - Hauptman Named NCUA Liaison to DCUC and NASCUS - Today, National Credit Union Administration Chairman Rodney E. Hood announced that he assigned Vice Chairman Kyle S. Hauptman as the NCUA Board�s liaison to the Defense Credit Union Council and the National Association of State Credit Union Supervisors. www.ncua.gov/newsroom/press-release/2021/hauptman-named-ncua-liaison-dcuc-and-nascus

January 11, 2021 - Membership and Leadership Announcements for the Federal Reserve Bank of San Francisco�s Head Office Board of Directors - The Federal Reserve Bank of San Francisco has announced Karen Lee, chief executive officer of Pioneer Human Services, in Seattle, Washington, as its newest head office director. www.frbsf.org/our-district/press/news-releases/2021/membership-and-leadership-announcements-for-the-federal-reserve-bank-of-san-franciscos-head-office-board-of-directors/

January 11, 2021 - Banker Webinar: Basics of New Paycheck Protection Program Loan Programs - The Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, the National Credit Union Administration, and the Conference of State Bank Supervisors will host a webinar for bankers on Monday, January 11, 2021 from 2:00 p.m. to 3:00 p.m., ET, to discuss recent changes to the Paycheck Protection Program. www.fdic.gov/news/financial-institution-letters/2021/fil21001.html

January 11, 2021 - FDIC Selects 11 Companies to Compete in Final Phase of Tech Sprint - The Federal Deposit Insurance Corporation today announced the selection of 11 companies to compete in the third and final phase of the agency�s Rapid Phased Prototyping Competition, a tech sprint designed to develop an innovative new approach to financial reporting, particularly for community banks. www.fdic.gov/news/press-releases/2021/pr21004.html

January 11, 2021 - FDIC Announces Personnel Changes - The Federal Deposit Insurance Corporation has made several personnel changes in its Division of Risk Management Supervision and Division of Depositor and Consumer Protection. www.fdic.gov/news/press-releases/2021/pr21003.html

January 11, 2021 - International Yield Spillovers - Don H. Kim and Marcelo Ochoa - This paper investigates spillovers from foreign economies to the U.S. through changes in longterm Treasury yields. www.federalreserve.gov/econres/feds/international-yield-spillovers.htm 

January 11, 2021 - Report and Disclosures on Funding, Credit, Liquidity, and Loan - The Board of Governors of the Federal Reserve System is providing
the following updates concerning certain lending facilities established by the Board under section 13(3) of the Federal Reserve Act (12 U.S.C. � 343). www.federalreserve.gov/publications/files/pdcf-mmlf-cpff-pmccf-smccf-talf-mlf-ppplf-msnlf-mself-msplf-nonlf-noelf-01-11-21.pdf

January 11, 2021 - Federal Reserve Board announces Reserve Bank income and expense data and transfers to the Treasury for 2020 - The Federal Reserve Board on Monday announced preliminary results indicating that the Reserve Banks provided for payments of approximately $88.5 billion of their estimated 2020 net income to the U.S. Treasury. www.federalreserve.gov/newsevents/pressreleases/other20210111a.htm

January 8, 2021 - Statistical Release - Consumer Credit - G.19 - In November, consumer credit increased at a seasonally adjusted annual rate of 4.4 percent. Revolving credit decreased at an annual rate of 1.0 percent, while nonrevolving credit increased at an annual rate of 6.1 percent. www.federalreserve.gov/releases/g19/current/default.htm

January 8, 2021 - Advisory Council - Federal Advisory Council, Record of Meeting - December 3, 2020 - The Federal Advisory Council, which is composed of twelve representatives of the banking industry, consults with and advises the Board on all matters within the Board's jurisdiction. www.federalreserve.gov/aboutthefed/fac.htm

January 8, 2021 - Advanced Notice of a Meeting - A closed meeting of the Board of Governors of the Federal Reserve System will be held at 10:00 a.m. on January 15, 2021. Matter(s) considered: Personnel Matter. www.federalreserve.gov/aboutthefed/boardmeetings/20210115closed.htm

January 8, 2021 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update.  www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

January 8, 2021 - Federal Open Market Committee - 2015 Meeting Transcripts, Presentation Materials, Tealbooks, Agendas, SEP Individual Projections, and Memos.  www.federalreserve.gov/monetarypolicy/fomchistorical2015.htm

January 8, 2021 - Speech by Vice Chair Clarida on the U.S. economic outlook and monetary policy Vice Chair Richard H. Clarida At the C. Peter McColough Series on International Economics Council on Foreign Relations, New York, New York. www.federalreserve.gov/newsevents/speech/clarida20210108a.htm

January 7, 2021 - OCC Releases CRA Evaluations for 23 National Banks and Federal Savings Associations - The Office of the Comptroller of the Currency today released a list of Community Reinvestment Act performance evaluations that became public during the period of December 1, 2020 through December 31, 2020. www.occ.gov/news-issuances/news-releases/2021/nr-occ-2021-5.html 

January 7, 2021 - January 7, 2021 - NCUA Chairman Hood Statement Regarding Capitol Riots - The National Credit Union Administration today placed C O Federal Credit Union in Charleston, South Carolina, into conservatorship. www.ncua.gov/newsroom/press-release/2021/c-o-federal-credit-union-conserved
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January 7, 2021 - An Economic Discussion with Chicago Federal Reserve President Charles Evans - A virtual moderated discussion presented on January 7, 2021, at the Wisconsin Bankers Association Midwest Economic Forecast Forum. www.chicagofed.org/publications/speeches/2021/economic-disucssion-with-charles-evans

January 7, 2021 - Acting Comptroller of the Currency Statement Regarding Capitol Riot and the OCC�s Enduring Mission.  www.occ.gov/news-issuances/news-releases/2021/nr-occ-2021-4.html

January 7, 2021 - St. Louis Fed's Bullard Presents "The Pandemic Endgame Begins" - Federal Reserve Bank of St. Louis President James Bullard presented �The Pandemic Endgame Begins� via webinar for the Little Rock Regional Chamber on Thursday. www.stlouisfed.org/news-releases/2021/01/07/bullard-presents-the-pandemic-endgame-begins

January 7, 2021 - Federal Reserve Board issues enforcement action with former employee of Community Financial Services Bank.   www.federalreserve.gov/newsevents/pressreleases/enforcement20210107a.htm

January 6, 2021 - Regulatory Capital Treatment of Total Loss-Absorbing Capacity Investments : Final Rule - The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation issued a final rule on January 6, 2021, that applies to Category I and II banking organizations, which include banking organizations and their subsidiary banks that have at least $700 billion in total consolidated assets, or $100 billion or more in total consolidated assets and $75 billion or more in cross-jurisdictional activities. www.occ.gov/news-issuances/bulletins/2021/bulletin-2021-1.html

January 6, 2021 - Acting Comptroller of the Currency Issues Statement on CFPB Task Force Study Regarding Federal Fintech Charters - Acting Comptroller of the Currency Brian P. Brooks issued the following statement upon release of the Consumer Financial Protection Bureau�s task force report endorsing the need for federal charters for financial technology companies. www.occ.gov/news-issuances/news-releases/2021/nr-occ-2021-3.html

January 6, 2021 - Optimizing Credit Gaps for Predicting Financial Crises: Modelling Choices and Tradeoffs - Daniel O. Beltran, Mohammad R. Jahan-Parvar, and Fiona A. Paine - Credit gaps are good predictors for financial crises, and banking regulators recommend using them to inform countercyclical capital buffers for banks. www.federalreserve.gov/econres/ifdp/optimizing-credit-gaps-for-predicting-financial-crises-modelling-choices-tradeoffs.htm

January 6, 2021 - Federal Open Market Committee - FOMC Historical Memos, 1970-74.  www.federalreserve.gov/monetarypolicy/fomc-memos-by-year.htm

January 6, 2021 - Minutes of the Federal Open Market Committee, December 15-16, 2020 - The minutes for each regularly scheduled meeting of the Committee ordinarily are made available three weeks after the day of the policy decision and subsequently are published in the Board's Annual Report. https://www.federalreserve.gov/newsevents/pressreleases/monetary20210106a.htm

January 5, 2021 - NCUA - C O Federal Credit Union Conserved - The National Credit Union Administration today placed C O Federal Credit Union in Charleston, South Carolina, into conservatorship. www.ncua.gov/newsroom/press-release/2021/c-o-federal-credit-union-conserved 

January 5, 2021 - The New Monetary Policy Framework and Some Implications for Financial Stability - A speech presented virtually on January 5, 2021, for Federal Reserve Actions During the Coronavirus Pandemic, a panel hosted by IBEFA and the AEA at the ASSA 2021 Annual Meeting. www.chicagofed.org/publications/speeches/2021/new-policy-framework-and-financial-stability

January 5, 2021 - FDIC Announces Personnel Change in Its Division of Complex Institution Supervision and Resolution - The Federal Deposit Insurance Corporation Board of Directors has appointed John P. Conneely as director of the Division of Complex Institution Supervision and Resolution. www.fdic.gov/news/press-releases/2021/pr21002.html

January 5, 2021 - Federal Reserve Board announces termination of enforcement action with Mid America Bank and Trust Company.   www.federalreserve.gov/newsevents/pressreleases/enforcement20210105a.htm

January 4, 2021 - NCUA - Request for Information on Communication Methods Approved by Board.  www.ncua.gov/newsroom/press-release/2021/request-information-communication-methods-approved-board

January 4, 2021 - Statistical Release Foreign Exchange Rates - G.5A The table below shows the average rates of exchange in 2020 together with comparable figures for other years. www.federalreserve.gov/releases/g5a/current/default.htm

January 4, 2021 - The Road Ahead Under a New Monetary Policy Framework - A speech presented virtually on January 4, 2021, for Economic Prospects and Policies After COVID-19, a panel hosted by National Association for Business Economics at the Allied Social Science Associations 2021 Annual Meeting. www.chicagofed.org/publications/speeches/2021/the-road-ahead-under-new-framework

January 4, 2021 - OCC Proposes Rule Regarding Permissible Bank Premises - The Office of the Comptroller of the Currency today invited comment on a notice of proposed rulemaking to codify permissibility standards for real estate used as national bank or federal savings association premises. www.occ.gov/news-issuances/news-releases/2021/nr-occ-2021-1.html

January 4, 2021 - FDIC Issues List of Banks Examined for CRA Compliance - The list covers evaluation ratings that the FDIC assigned to institutions in October 2020. www.fdic.gov/news/press-releases/2021/pr21001.html
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December 31, 2020 - Midwest Economy Index Suggests Slower, but Still Above-Trend Growth Through November - The Midwest Economy Index (MEI), which approximates quarterly growth at a monthly frequency, fell to +1.79 in November from +3.00 in October. Contributions to the November MEI from all four broad sectors of nonfarm business activity and all five Seventh Federal Reserve District states decreased from October. www.chicagofed.org/~/media/publications/mei/2020/mei-november2020-pdf.pdf

December 31, 2020 - Proposed Assessment-Related Revision to the Consolidated Reports of Condition and Income - The Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, and the Office of the Comptroller of the Currency, under the auspices of the Federal Financial Institutions Examination Council, are requesting comment on a proposed change to the Call Report forms and instructions. www.fdic.gov/news/financial-institution-letters/2020/fil20117.html

December 31, 2020 - Discount Window Lending, 2018:Q4 - Federal Reserve lending to depository institutions plays an important role in supporting the liquidity and stability of the banking system and the effective implementation of monetary policy. www.federalreserve.gov/regreform/discount-window.htm

December 31, 2020 - How Do Principal Trading Firms and Dealers Trade around FOMC Statement Releases? - James C. Harkrader and Daniel J. Weitz - This FEDS Note examines how different types of market participants transact in the interdealer broker venue of the Treasury market in the periods immediately following statement releases at the conclusion of Federal Open Market Committee meetings. www.federalreserve.gov/econres/notes/feds-notes/how-do-principal-trading-firms-and-dealers-trade-around-fomc-statement-releases-20201231.htm

December 31, 2020 - NCUA Issues Two Prohibition Orders in December - The National Credit Union Administration issued two prohibition orders in December. These individuals are prohibited from participating in the affairs of any federally insured financial institution. www.ncua.gov/newsroom/press-release/2020/ncua-issues-two-prohibition-orders-december 

December 30, 2020 - Presidential $1 Coin Program, December 2020 - Reports on the Federal Reserve and the United States Mint's collaborative efforts to develop the Presidential $1 Coin Program and improve the distribution and circulation of $1 coins. www.federalreserve.gov/publications/presidential-dollar-coin-program.htm

December 30, 2020 - Remittances and COVID-19: A Tale of Two Countries - Federico S. Mandelman, Diego Vil�n - The share of labor earnings that migrants send home to support their families is known as migrant or worker�s remittances.  www.federalreserve.gov/econres/notes/feds-notes/remittances-and-covid-19-a-tale-of-two-countries-20201230.htm

December 30, 2020 - Common Trade Exposure and Business Cycle Comovement - Oscar Avila-Montealegre and Carter Mix - A large empirical literature has shown that countries that trade more with each other have more correlated business cycles. www.federalreserve.gov/econres/ifdp/common-trade-exposure-and-business-cycle-comovement.htm

December 30, 2020 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update.  www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

December 30, 2020 - Why Were Treasury Yields So Stable Over the Summer? - Kasper Joergensen and Laura Wilcox - Early this year, economic activity plummeted as COVID-19 cases around the world surged and governments enacted restrictions to mitigate the spread of the virus. www.federalreserve.gov/econres/notes/feds-notes/why-were-treasury-yields-so-stable-over-the-summer-20201229.htm

December 30, 2020 - Federal Reserve extends termination date of Main Street Lending Program facilities to January 8, 2021 to allow more time to process and fund loans that were submitted to Main Street lender portal on or before December 14, 2020. www.federalreserve.gov/newsevents/pressreleases/monetary20201229a.htm

December 29, 2020 - The Federal Financial Institutions Examination Council today announced the selection of Kevin Allard to the FFIEC�s State Liaison Committee. - Allard was designated by the American Council of State Savings Supervisors to complete the remainder of the two-year term left vacant by the early departure of Commissioner John Ducrest. www.ffiec.gov/press/pr122920.htm

December 29, 2020 - Common Trade Exposure and Business Cycle Comovement - Oscar Avila-Montealegre and Carter Mix - A large empirical literature has shown that countries that trade more with each other have more correlated business cycles. www.federalreserve.gov/econres/ifdp/common-trade-exposure-and-business-cycle-comovement.htm

December 29, 2020 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update.  www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

December 29, 2020 - Why Were Treasury Yields So Stable Over the Summer? - Kasper Joergensen and Laura Wilcox - Early this year, economic activity plummeted as COVID-19 cases around the world surged and governments enacted restrictions to mitigate the spread of the virus.  www.federalreserve.gov/econres/notes/feds-notes/why-were-treasury-yields-so-stable-over-the-summer-20201229.htm

December 29, 2020 - Federal Reserve extends termination date of Main Street Lending Program facilities to January 8, 2021 to allow more time to process and fund loans that were submitted to Main Street lender portal on or before December 14, 2020.  www.federalreserve.gov/newsevents/pressreleases/monetary20201229a.htm

December 28, 2020 - Brave-Butters-Kelley Indexes - The Brave-Butters-Kelley Indexes are a research project of the Federal Reserve Bank of Chicago. The BBK Coincident and Leading Indexes and Monthly GDP Growth for the U.S. are constructed from a collapsed dynamic factor analysis of a panel of 500 monthly measures of real economic activity and quarterly real GDP growth.   www.chicagofed.org/publications/bbki/index

December 28, 2020 - NCUA - Chairman Hood: COVID-19 Relief Extension Will Support Credit Unions, Assist Members - The extension of several COVID-19 relief measures in the Consolidated Appropriations Act, 2021 will ensure that credit unions can support their member-owners during the next phase of the pandemic, National Credit Union Administration Chairman Rodney E. Hood said today. www.ncua.gov/newsroom/press-release/2020/chairman-hood-covid-19-relief-extension-will-support-credit-unions-assist-members

December 28, 2020 - FDIC Makes Public November Enforcement Actions - The FDIC issued 10 orders in November 2020. The administrative enforcement actions in those orders consisted of two civil money penalties, one removal order, two terminations of consent orders, one termination of an order for restitution, one termination of a supervisory prompt corrective action directive and four Section 19 applications. www.fdic.gov/news/press-releases/2020/pr20143.html

December 28, 2020 - Information and Liquidity in the Market for Foreign Currency Denominated Sovereign Bonds - David S. Miller - This note finds a negative, non-linear relationship between bond yield and liquidity using data on Portuguese, Irish, Italian, Greek, and Spanish sovereign bonds from 2010-2015. www.federalreserve.gov/econres/notes/feds-notes/information-and-liquidity-in-the-market-for-foreign-currency-denominated-sovereign-bonds-122820.htm

December 23, 2020 - NCUA - Board Approves Proposed Rule to Allow Exemptions from SAR Requirements - The proposed regulation would permit the NCUA to issue, on a case-by-case basis, exemptions from SAR filing requirements to federally insured credit unions, when the exemption is consistent with safe and sound practices and can improve the effectiveness and efficiency of Bank Secrecy Act reporting. www.ncua.gov/newsroom/press-release/2020/board-approves-proposed-rule-allow-exemptions-sar-requirements

December 23, 2020 - Activities and Operations of National Banks and Federal Savings Associations : Final Rule - The Office of the Comptroller of the Currency has issued a final rule to amend its regulations in 12 CFR 7, �Activities and Operations.� Specifically, the final rule updates or eliminates outdated regulatory requirements that no longer reflect the modern financial system, clarifies and codifies recent OCC interpretations, integrates certain regulations for national banks and federal savings associations, and makes other technical and conforming changes. www.occ.gov/news-issuances/bulletins/2020/bulletin-2020-111.html

December 23, 2020 - Acting Comptroller of the Currency Praises President�s Working Group Statement on Cryptocurrency - Acting Comptroller of the Currency Brian P. Brooks today issued the following praise for the President�s Working Group statement on stablecoins. www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-177.html

December 23, 2020 - St. Louis Fed Announces Changes to Board of Directors - The Federal Reserve Bank of St. Louis has announced the following changes to its board of directors, effective Jan. 1: www.stlouisfed.org/news-releases/2020/12/23/st-louis-fed-announces-changes-board-directors

December 23, 2020 - St. Louis Fed Little Rock Branch Announces Changes to Board of Directors - The Federal Reserve Bank of St. Louis has announced the following changes to its Little Rock Branch board of directors, effective Jan. 1: www.stlouisfed.org/news-releases/2020/12/23/st-louis-fed-little-rock-branch-announces-changes-board-directors

December 23, 2020 - St. Louis Fed Louisville Branch Announces Changes to Board of Directors - The Federal Reserve Bank of St. Louis has announced the following changes to its Louisville Branch board of directors, effective Jan. 1: www.stlouisfed.org/news-releases/2020/12/23/st-louis-fed-louisville-branch-announces-changes-board-directors

December 23, 2020 - St. Louis Fed Memphis Branch Announces Changes to Board of Directors - The Federal Reserve Bank of St. Louis has announced the following changes to its Memphis Branch board of directors, effective Jan. 1: www.stlouisfed.org/news-releases/2020/12/23/st-louis-fed-memphis-branch-announces-changes-board-directors

December 23, 2020 - D. Bryan Jordan Reappointed to Federal Advisory Council - The board of directors of the Federal Reserve Bank of St. Louis has reappointed D. Bryan Jordan, president and CEO of First Horizon Corp. in Memphis, Tenn., to serve on the Federal Advisory Council for a one-year term that ends Dec. 31, 2021. www.stlouisfed.org/news-releases/2020/12/23/d-bryan-jordan-reappointed-federal-advisory-council

December 23, 2020 - Tokens and accounts in the context of digital currencies - Alexander Lee, Brendan Malone, and Paul Wong - Several years ago, innovation in financial markets began to generate discussion of digital tokens and tokenization of financial assets.  www.federalreserve.gov/econres/notes/feds-notes/tokens-and-accounts-in-the-context-of-digital-currencies-122320.htm

December 23, 2020 - Federal Reserve Board announces appointment of the chairs and deputy chairs of the Federal Reserve Banks for 2021 - Each Reserve Bank has a nine-member board of directors. The Board of Governors in Washington appoints three of these directors and each year designates one of its appointees as Chair and a second as Deputy Chair. www.federalreserve.gov/newsevents/pressreleases/other20201223a.htm

December 22, 2020 - The Impact of the Pandemic and the Fed�s Muni program on Illinois Muni Yields By Robert Bernhardt , Stefania D�Amico , Santiago I. Sordo Palacios -
We estimate a simple model in which variations in Illinois daily municipal bond yields are explained by high-frequency indicators summarizing economic and public health conditions in Illinois, as well as key changes in the Federal Reserve�s Municipal Liquidity Facility. www.chicagofed.org/publications/chicago-fed-letter/2020/449

December 22, 2020 - Information Regarding the FDIC�s Reservation of Authority for Determining Part 363 Compliance Requirements for Insured Depository Institutions - The IFR reserves to the FDIC the authority to require an IDI to comply with one or more Part 363 requirements if the FDIC determines that asset growth was related to merger or acquisition transactions. This FIL provides information on how the FDIC intends to exercise the reservation of authority. www.fdic.gov/news/financial-institution-letters/2020/fil20116.html

December 22, 2020 - Status of Certain Investment Funds and Their Portfolio Investments for Purposes of Regulation O and Reporting Requirements under Part 363 of FDIC Regulations - The Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency are issuing the attached interagency statement to explain that the federal banking agencies will continue to exercise discretion to not take enforcement action against asset managers that become principal shareholders of banks or banks that make extensions of credit to the related interests of such asset managers that otherwise would violate Regulation O.
Press Release: www.federalreserve.gov/supervisionreg/srletters/sr2031.htm
Press Release: www.fdic.gov/news/financial-institution-letters/2020/fil20115.html
Press Release: www.occ.gov/news-issuances/bulletins/2020/bulletin-2020-110.html

December 22, 2020 - Federal Reserve Board invites public comment on proposed amendments to Regulation D and issues final rule amending Regulation D with regard to reserve requirement ratios on transaction accounts - The Federal Reserve Board on Tuesday issued a notice of proposed rulemaking that requests public comment on proposed amendments to Regulation D.  www.federalreserve.gov/newsevents/pressreleases/monetary20201222a.htm
 
December 22, 2020 - Federal Reserve Board issues enforcement action with Credit Suisse.  www.federalreserve.gov/newsevents/pressreleases/enforcement20201222a.htm

December 21, 2020 - St. Louis Fed�s Housing Market Perspectives: How Many Mortgage Foreclosures Is Forbearance Preventing? - In stark contrast to the Great Recession, mortgage foreclosures amid the COVID-19 shock declined significantly in the early months of this recession. Mortgage forbearance programs may have helped.  www.stlouisfed.org/news-releases/2020/12/21/housing-market-perspectives-mortgage-foreclosures-forbearance-preventing