July 31, 2014 - Economic Impact of Slowdown in New Business Formation - Chicago Fed Letter finds decline in new business entry did not add much to employment losses of 2008–09, but effects might be long-lasting. www.chicagofed.org/digital_assets/publications/chicago_fed_letter/2014/cflseptember2014_326.pdf

July 31, 2014 - Midwest Economic Growth Increased in June - The Midwest Economy Index was +0.55 in June, up from +0.45 in May.   http://chicagofed.org/webpages/publications/mei/index.cfm

July 31, 2014 - Financial Market Stress Falls Slightly Over Previous Week - The St. Louis Fed Financial Stress Index fell slightly in the latest reporting week. For the week ending July 25, 2014, the STLFSI measured -1.340, down from the previous week’s revised value of -1.337. www.stlouisfed.org/newsroom/displayNews.cfm?article=2267

July 31, 2014 - St. Louis Fed Publication Challenges Focus on U.S. Income Inequality - An article in the latest issue of The Regional Economist, a publication of the Federal Reserve Bank of St. Louis, tackles the topic of inequality, which is at the forefront of current public debate. www.stlouisfed.org/newsroom/displayNews.cfm?article=2269

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

July 31, 2014 - Federal Reserve Board issues enforcement action with Premier Bank and termination of enforcement action with Metropolitan Bank Group, Inc. www.federalreserve.gov/newsevents/press/enforcement/20140731a.htm
 
July 31, 2014 - NCUA Issues Prohibition Order - The National Credit Union Administration has issued an order in July prohibiting the following individual from participating in the affairs of any federally insured financial institution: www.ncua.gov/News/Pages/NW20140731ProhibitionOrders.aspx

July 31, 2014 - NCUA - July 2014 Board Meeting: Board Plans to Eliminate Fixed-Asset Cap - Mid-Year Budget Adjustments Save Credit Unions $1.1 Million - The National Credit Union Administration Board convened its seventh scheduled open meeting of 2014 at the agency’s headquarters here today. The Board unanimously approved three items: www.ncua.gov/about/Pages/Board%20Actions/BAB20140731.aspx

July 30, 2014 - Fed’s Williams on Accommodative Stance: “The Bottom Line is, it has Worked” - The Federal Reserve’s continued accommodation has been absolutely the right stance to take, John C. Williams, president and CEO of the San Francisco Federal Reserve said today. www.frbsf.org/our-district/press/news-releases/2014/accommodative-monetary-policy-speech/

July, 30, 2014 - Announces Appointment of Segundo Pereira as Director of the Office of Minority and Women Inclusion and Departure of Andrew Gray, Deputy to the Chairman for Communications - The Federal Deposit Insurance Corporation today announced the appointment of Segundo Pereira as an Officer of the Corporation and as Director of the FDIC's Office of Minority and Women Inclusion.  www.fdic.gov/news/news/press/2014/pr14064.html

July, 30, 2014 - Federal Reserve issues FOMC statement - Information received since the Federal Open Market Committee met in June indicates that growth in economic activity rebounded in the second quarter. Labor market conditions improved, with the unemployment rate declining further. www.federalreserve.gov/newsevents/press/monetary/20140730a.htm

July, 30, 2014 - NCUA - New NCUA Economic Video Describes Opportunities, Risks in Improving Economy - Credit Unions Could See Deposit and Loan Growth But Also Face Rising Interest Rates - An improving labor market and falling unemployment rates are boosting performance indicators like loan demand and reducing delinquencies at credit unions, but they may also bring the potential for rising interest rates according to a new economic update released today by the National Credit Union Administration. www.ncua.gov/News/Pages/NW20140730EconomicUpdate.aspx

July 29, 2014 - Supervisory Insights Journal: Summer 2014 Issue Now Available - The Summer 2014 issue of Supervisory Insights features two articles of interest to examiners, bankers, and supervisors. These articles discuss the FDIC's efforts to assist community banks in managing their regulatory responsibilities and trends in "Matters Requiring Board Attention www.fdic.gov/news/news/financial/2014/fil14042.pdf

July, 29, 2014 - FDIC Publication Focuses on Tools Available to Help Community Banks Manage Regulatory Responsibilities - "Alternatives to Consultants: Meeting Regulatory Expectations with Internal Resources," which appears in the Summer 2014 issue of Supervisory Insights released today, highlights tools and information available from the FDIC to assist community banks in managing their regulatory responsibilities.   www.fdic.gov/news/news/press/2014/pr14063.html

July 29, 2014 - Federal Reserve Board announces termination of enforcement action with Lincoln County Bancorp and Peoples Bank and Trust Company.  www.federalreserve.gov/newsevents/press/enforcement/20140729a.htm

July, 28, 2014 - Legal Interpretations - Bank Holding Company/Savings and Loan Holding Companies/Change in Control.   www.federalreserve.gov/bankinforeg/LegalInterpretations/legalinterpretations.htm

July 28, 2014 - FDIC Clarifying Supervisory Approach to Institutions Establishing Account Relationships with Third-Party Payment Processors - The FDIC is clarifying its supervisory approach to institutions establishing account relationships with third-party payment processors.  www.fdic.gov/news/news/financial/2014/fil14041.html

July, 28, 2014 - Industrial Clusters and Economic Development in Indianapolis, Ind. - In a recent blog posting, Federal Reserve Bank of Chicago's Rick Mattoon summarizes major trends in selected Midwest metropolitan economies.   http://midwest.chicagofedblogs.org/archives/2014/07/mattoon_indiana.html

July 25, 2014 - OCC Appoints Receiver for GreenChoice Bank, fsb, Chicago - The Office of the Comptroller of the Currency today appointed the Federal Deposit Insurance Corporation as receiver for GreenChoice Bank, fsb, Chicago, Ill., a federal savings association. As of March 31, 2014, the institution had approximately $72.9 million in total assets. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-106.html

July, 25, 2014 - Providence Bank, LLC, South Holland, Illinois, Assumes All of the Deposits of GreenChoice Bank, fsb, Chicago, Illinois - GreenChoice Bank, fsb, Chicago, Illinois, was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Providence Bank, LLC, South Holland, Illinois, to assume all of the deposits of GreenChoice Bank, fsb. www.fdic.gov/news/news/press/2014/pr14062.html

July 25, 2014 - FDIC Makes Public June Enforcement Actions - The Federal Deposit Insurance Corporation today released a list of orders of administrative enforcement actions taken against banks and individuals in June. No administrative hearings are scheduled for August 2014. www.fdic.gov/news/news/press/2014/pr14061.html

July, 25, 2014 - Federal Reserve Board releases order related to previously announced monetary sanctions against SunTrust Banks, Inc. www.federalreserve.gov/newsevents/press/enforcement/enf20140725a1.pdf

July 25, 2014 - Federal Reserve announces it has not objected to a re-submitted capital plan from Zions Bancorporation www.federalreserve.gov/newsevents/press/bcreg/bcreg20140725a1.pdf________________

July 25, 2014 - FDIC Makes Public June Enforcement Actions - The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in June. No administrative hearings are scheduled for August 2014. http://www.fdic.gov/news/news/press/2014/pr14061.html

July 24, 2014 - Comptroller Discusses Mutual Savings Associations - Comptroller of the Currency Thomas J. Curry today discussed opportunities and challenges facing mutual savings associations during a speech at the 2014 Joint Mutual Forum hosted by the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation. www.occ.gov/news-issuances/speeches/2014/pub-speech-2014-105.pdf

July 24, 2014 - Financial Market Stress Rises for Third Consecutive Week - The St. Louis Fed Financial Stress Index (STLFSI) rose for the third consecutive week. For the week ending July 18, 2014, the STLFSI measured -1.330, up modestly from the previous week’s revised value of -1.357. www.stlouisfed.org/newsroom/displayNews.cfm?article=2264

July 24, 2014 - Advanced Notice of a Meeting under Expedited Procedures - Will be held on July 28, 2014. 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/20140728advexp.htm

July 24, 2014 - Proposals for Comment - Proposal to approve under OMB delegated authority the extension for three years, with revision, of the following report: FR 28, FR 28i, FR 28s; Proposal to approve under OMB delegated authority the extension for three years, without revision, of the following reports: FR 29a, FR 29b, FR 3016, Reg H-5 www.federalreserve.gov/apps/foia/proposedregs.aspx#icp

July 24, 2014 - Federal Reserve Payments Study Provides Further Details on Domestic Payments - Minneapolis, Minn., July 24, 2014-- The 2013 Federal Reserve Payments Study Detailed Report, released today, provides new information on the payments landscape including updated results on the intensity of card use by consumers and businesses; further discussion of previously released information on third-party payments fraud;  www.federalreserve.gov/newsevents/press/other/20140724a.htm

July 24, 2014 - NCUA - Agenda for the 7/31/2014 NCUA Board Meeting is Available.  www.ncua.gov/about/Pages/Agendas/AG20140724.aspx

July 24, 2014 - NCUA Releases Videos on Preventing Employee Dishonesty and Fraud - Learn How to Detect and Deter Potential Insider Fraud at Your Credit Union - To help credit union managers and volunteers to detect and deter fraud, the National Credit Union Administration today released the first three episodes of a new seven-part online series on fraud prevention.  www.ncua.gov/News/Pages/NW20140724EmployeeFraud.aspx

July 23, 2014 - Health and Community Socioeconomic Status - This edition of ProfitWise News and Views provides a look at how indicators of health parallel economic conditions, and at how one Chicago neighborhood, to some degree, provides an exception to this general relationship.   www.chicagofed.org/webpages/publications/profitwise_news_and_views/2014/pnv_summer2014.cfm

July 23, 2014 - NCUA - Matz Plans New Regulatory Relief Actions - NCUA Chairman Details Plans to Eliminate Fixed-Asset Cap and Modernize Member Business Lending, Advertising and Other Rules - Credit unions will have greater flexibility and be able to offer better services to members under a series of planned regulatory relief changes, National Credit Union Administration Board Chairman Debbie Matz said today. www.ncua.gov/News/Pages/NW20140723MatzSpeech.aspx

July 23, 2014 - Loan Coverage Requirements for Safety and Soundness Examinations of Community Banks - This guidance updates loan sampling expectations for Federal Reserve led examinations of community state member banks and clarifies when statistical sampling is expected to be used.   www.federalreserve.gov/bankinforeg/srletters/sr1407.htm 

July 22, 2014 - NCUA - July Issue of The NCUA Report Now Available - This latest issue includes columns from NCUA Board Chairman Debbie Matz, Board Member Michael E. Fryzel and Board Member Rick Metsger. It also includes articles from several NCUA offices on the agency’s initiatives and information on supervisory, regulatory and compliance issues that are important to all federally insured credit unions. www.ncua.gov/News/Pages/NW20140722JulyNCUAReport.aspx

July 22, 2014 - OCC Guidance Highlights Unique Characteristics of Mutual Savings Associations - The Office of the Comptroller of the Currency today issued an OCC bulletin that highlights the unique characteristics of mutual savings associations (mutuals) that factor into the supervision of these community institutions. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-104.html

July 22, 2014 - Kansas City Fed names deputy director of Office of Minority and Women Inclusion - Andrea Hendricks will join the Bank as deputy director of the Office of Minority and Women Inclusion. In this role, Hendricks will lead the Bank’s diversity and inclusion and organizational development strategies as it prepares for growth in the coming years. www.kc.frb.org/publicat/newsroom/2014pdf/press.release.07.22.14.pdf

July 22, 2014 - Legal Interpretations - Bank Holding Company Act, July 16 and 21, 2014.   www.federalreserve.gov/bankinforeg/LegalInterpretations/bhc_changeincontrol2014.htm

July 22, 2014 - Federal Reserve Board issues enforcement action with State Bank and termination of enforcement actions with NASB Financial, Inc., and NexTier Incorporated.  www.federalreserve.gov/newsevents/press/enforcement/20140722a.htm

July 21, 2014 - Economic Development in Des Moines, Iowa - In a recent blog posting, Federal Reserve Bank of Chicago's Rick Mattoon summarizes major trends in selected Midwest metropolitan economies. http://midwest.chicagofedblogs.org/archives/2014/07/mattoon_des_moi.html

July 21, 2014 - Economic Growth Decelerated Slightly in June - The Chicago Fed National Activity Index was +0.12 in June, down from +0.16 in May. www.chicagofed.org/webpages/publications/cfnai/index.cfm

July 21, 2014 - NCUA - With Listening Sessions Complete, NCUA Turning Comments and Ideas into Action - Matz: Proposed Risk-Based Capital Rule Review Continues; Changes Coming - With Board Chairman Debbie Matz’s 2014 Listening Sessions completed, the National Credit Union Administration is incorporating comments and ideas from the sessions into its work, including the ongoing review of the agency’s proposed risk-based capital rule. www.ncua.gov/News/Pages/NW20140721ListeningSessions.aspx

July 21, 2014 - Releases Study on Minority Depository Institutions - Study Among Topics of Upcoming Advisory Committee on Community Banking Meeting - The Federal Deposit Insurance Corporation today released a study on the structure, performance and social impact of Minority Depository Institutions. The study describes MDIs and FDIC-insured community development financial institutions and where these institutions are located.  www.fdic.gov/news/news/press/2014/pr14059.html

July 21, 2014 - Reputation and Liquidity Traps - Taisuke Nakata - Can the central bank credibly commit to keeping the nominal interest rate low for an extended period of time in the aftermath of a deep recession? By analyzing credible plans in a sticky-price economy with occasionally binding zero lower bound constraints, I find that the answer is yes if contractionary shocks hit the economy with sufficient frequency. www.federalreserve.gov/pubs/feds/2014/201450/201450pap.pdf

July 21, 2014 - Assessing Targeted Macroprudential Financial Regulation: The Case of the 2006 Commercial Real Estate Guidance for Banks -
William F. Bassett and W. Blake Marsh In the mid-2000s, federal bank regulatory agencies became alarmed by steadily increasing concentrations of commercial real estate loans at many banks, particularly loans used to finance construction and land development.  www.federalreserve.gov/pubs/feds/2014/201449/201449pap.pdf 

July 21, 2014 - QE Auctions of Treasury Bonds - Zhaogang Song and Haoxiang Zhu - The Federal Reserve (Fed) uses a unique auction mechanism to purchase U.S. Treasury securities in implementing its quantitative easing policy. In this paper, we study the outcomes of QE auctions and participating dealers' bidding behaviors from November 2010 to September 2011, during which the Fed purchased $780 billion Treasury securities. www.federalreserve.gov/pubs/feds/2014/201448/201448pap.pdf

July 21, 2014 - Reports to the Congress - Government-Administered, General-Use Prepaid Cards, July 2014.  www.federalreserve.gov/publications/other-reports/files/government-prepaid-report-201407.pdf

July 18, 2014 - NCUA - June NCUA Board Meeting Video Now Available Online - The video recording of the June open meeting of the National Credit Union Administration Board is now available on the agency’s website. www.ncua.gov/News/Pages/NW20140718JuneBoardMTG.aspx

July 18, 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-2014-103.html

July 18, 2014 - Joint Release/Agencies Finalize Technical Correction of Risk-Based Capital Rules - The Federal Reserve Board, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency on Wednesday announced the finalization of a technical correction of the definition of "eligible guarantee" in the agencies' risk-based capital rules.
Press Release: www.fdic.gov/news/news/press/2014/pr14057.html
Press Release: www.federalreserve.gov/newsevents/press/bcreg/20140716a.htm
Press Release: www.occ.gov/news-issuances/news-releases/2014/nr-ia-2014-102.html

July 18, 2014 - Notice of a Meeting under Expedited Procedures - Held on July 18, 2014. Periodic Briefing and Discussion on Financial Markets, Institutions, and Infrastructure. www.federalreserve.gov/aboutthefed/boardmeetings/20140718exp.htm

July 18, 2014 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

July 18, 2014 - Legal Interpretations - Bank Holding Company/Savings and Loan Holding Companies/Change in Control www.federalreserve.gov/bankinforeg/LegalInterpretations/bhc_changeincontrol2014.htm
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July 17, 2014 - Financial Market Stress Rises Slightly for Second Consecutive Week - The St. Louis Fed Financial Stress Index rose slightly for the second consecutive week. For the week ending July 11, 2014, the STLFSI measured -1.350, up from the previous week’s revised value of -1.359. Year-to-date, the STLFSI has averaged -1.218, moderately lower than the -1.096 average that prevailed over the same year-to-date interval in 2013. www.stlouisfed.org/newsroom/displayNews.cfm?article=2256

July 17, 2014 - St. Louis Fed’s Bullard Discusses Macroeconomic Goals and Monetary Policy Stance - Federal Reserve Bank of St. Louis President James Bullard discussed “Fed Goals and the Policy Stance” at a Greater Owensboro Chamber of Commerce event on Thursday. www.stlouisfed.org/newsroom/displayNews.cfm?article=2258

July 17, 2014 - GeoFRED® Now Featuring Enhanced Interface and International Data - The Federal Reserve Bank of St. Louis has rolled out a suite of upgrades to its GeoFRED platform. Part of the FRED family, GeoFRED allows users to map many data series that exist in FRED. www.stlouisfed.org/newsroom/displayNews.cfm?article=2260

July 17, 2014 - Minutes of the Federal Open Market Committee - A meeting of the Federal Open Market Committee was held in the offices of the Board of Governors of the Federal Reserve System in Washington, D.C., on Tuesday, June 17, 2014, at 10:00 a.m. and continued on Wednesday, June 18, 2014, at 9:00 a.m. www.federalreserve.gov/monetarypolicy/fomcminutes20140618.htm

July 16, 2014 - Federal Reserve Releases July 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.   www.stlouisfed.org/newsroom/displayNews.cfm?article=2254

July 16, 2014 - Consolidated Reports of Condition and Income - The Consolidated Reports of Condition and Income for the June 30, 2014, report date must be received by Wednesday, July 30, 2014. Certain institutions with foreign offices have an additional five calendar days to submit their reports.  www.fdic.gov/news/news/financial/2014/fil14038.pdf

July 16, 2014 - Prudent Management of Agricultural Credits Through Economic Cycles - The U.S. agricultural industry has reported overall profitability for several years, which has helped strengthen the overall credit quality of many insured financial institutions that serve agricultural clients.  www.fdic.gov/news/news/financial/2014/fil14039.pdf

July 16, 2014 - Advanced Notice of a Meeting under Expedited Procedures - Will be held on July 18, 2014. Periodic Briefing and Discussion on Financial Markets, Institutions, and Infrastructure. www.federalreserve.gov/aboutthefed/boardmeetings/20140718advexp.htm

July 16, 2014 - Beige Book - Informal review by the Federal Reserve Banks of current economic conditions in their Districts.   www.federalreserve.gov/monetarypolicy/beigebook/files/Beigebook_20140716.pdf

July 16, 2014 - Addendum to the Interagency Policy Statement on Income Tax Allocation in a Holding Company Structure.   www.federalreserve.gov/bankinforeg/srletters/sr1406.pdf

July 16, 2014 - Agencies finalize technical correction of risk-based capital rules - The Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency on Wednesday announced the finalization of a technical correction to the definition of "eligible guarantee" in the agencies' risk-based capital rules.
Press Release: www.federalreserve.gov/newsevents/press/bcreg/20140716a.htm 
Press Release: www.fdic.gov/news/news/press/2014/pr14057.html
Press Release: www.occ.gov/news-issuances/news-releases/2014/nr-ia-2014-102.html

July 15, 2014 - Deputy Chief Counsel Discusses OCC Enforcement - Deputy Chief Counsel Daniel P. Stipano today discussed how the Office of the Comptroller of the Currency works to ensure compliance with federal laws and regulations during a hearing before a subcommittee of the U.S. House Committee on Financial Services. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-101.html
 
July 15, 2014 - Kansas City Fed announces officer promotions and appointment - The following officer promotions and appointment were recently announced by Esther George, president and chief executive officer of the Federal Reserve Bank of Kansas City.   www.kc.frb.org/publicat/newsroom/2014pdf/press.release.07.15.14.pdf

July 15, 2014 - Assessments - Notice of Proposed Rulemaking - On July 15, 2014, the FDIC approved the attached Notice of Proposed Rulemaking that would revise the FDIC's risk-based deposit insurance assessment system to reflect changes in the regulatory capital rules that go into effect in 2015 and 2018.   www.fdic.gov/news/news/financial/2014/fil14037.html

July 15, 2014 - Proposals for Comment - Proposal to approve under OMB delegated authority the extension for three years, with revision, of the following reports: FR Y-14A/Q/M and FR Y-16. www.federalreserve.gov/apps/foia/dfproposals.aspx#ICP-201407

July 15, 2014 - Chair Janet L. Yellen -Semiannual Monetary Policy Report to the Congress - Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate, Washington, D.C. www.federalreserve.gov/newsevents/testimony/yellen20140715a.htm

July 15, 2014 - Scott G. Alvarez, General Counsel - Department of Justice's Operation Choke Point - Before the Subcommittee on Oversight and Investigations, Committee on Financial Services, U.S. House of Representatives, Washington, D.C. www.federalreserve.gov/newsevents/testimony/alvarez20140715a.htm

July 14, 2014 - FDIC Announces Settlement with Citi Entities - Settlement of RMBS Claims Totals $208.2 Million - The Federal Deposit Insurance Corporation, as receiver for three failed banks, has announced a $208,250,000.00 settlement with Citigroup Global Markets Inc.; Citigroup Financial Products Inc.; CitiMortgage, Inc.; Citigroup Mortgage Loan Trust Inc.; and Citicorp Mortgage Securities, Inc. of the receiverships' federal and state securities law claims based on misrepresentations in the offering documents for 24 residential mortgage-backed securities purchased by the failed banks. The settlement funds will be distributed among the receiverships for the failed Citizens National Bank, Strategic Capital Bank, and Colonial Bank. www.fdic.gov/news/news/press/2014/pr14056.html

July 14, 2014 - Held on July 14, 2014. 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/20140714exp.htm

July 14, 2014 - Federal Reserve Board announces approval of application by Old National Bancorp - The Federal Reserve Board on Monday announced its approval of the application filed by Old National Bancorp, Evansville, Indiana, to merge with United Bancorp, Inc. and thereby indirectly acquire United Bank & Trust, both of Ann Arbor, Michigan. www.federalreserve.gov/newsevents/press/orders/20140714a.htm

July 14, 2014 - Minutes of the Board's discount rates meetings from June 2 and June 16, 2014.   www.federalreserve.gov/newsevents/press/monetary/20140714a.htm

July 14, 2014 - Consolidated Reports of Condition and Income for Second Quarter 2014.  www.fdic.gov/news/news/financial/2014/fil14036.html

July 11, 2014 - In The Regional Economist: Tapering, Latin America, the Federal Budget and More - The July 2014 issue of The Regional Economist, the Federal Reserve Bank of St. Louis’ quarterly review of business and economic conditions, has been posted online at www.stlouisfed.org/publications/re. In his column, President James Bullard examines tapering and other key topics in monetary policy. www.stlouisfed.org/newsroom/displayNews.cfm?article=2252

July 11, 2014 - Midwest Housing Update - In a recent blog posting, Federal Reserve Bank of Chicago's William Testa analyzes residential real estate market developments in the Chicago Fed's district. - By Bill Testa - The housing sector has made halting progress throughout the five-year recovery from the Great Recession. Beginning in June 2013, progress began to slow as mortgage rates jumped, thereby hampering affordability and lending viability.   http://midwest.chicagofedblogs.org/archives/2014/07/district_housin.html   

July 11, 2014 - Kansas City Fed names community affairs officer - The following officer appointment was recently announced by Esther George, president and chief executive officer of the Federal Reserve Bank of Kansas City: www.kc.frb.org/publicat/newsroom/2014pdf/pressrelease.07.11.14.pdf

July 11, 2014 - Payment Systems - $1 Coin Quarterly Inventories, Payments, and Receipts.  www.federalreserve.gov/paymentsystems/coin_data.htm

July 11, 2014 - Regulatory Reform - Communications with the public through July 11, 2014. www.federalreserve.gov/newsevents/reform_meetings.htm

July 11, 2014 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

July 10, 2014 - Speech by Vice Chairman Stanley Fischer - Financial Sector Reform: How Far Are We? www.federalreserve.gov/newsevents/speech/fischer20140710a.htm
____________________

July 10, 2014 - Fed’s Evans Addresses Economic Summit - Charles Evans July 11 slide presentation to the Cumberland Advisors Sixth Annual Rocky Mountain Economic Summit in Jackson Hole, Wyoming. www.chicagofed.org/webpages/publications/speeches/2014/07-11-14-charles-evans-monetary-policy-jackson-hole-wy.cfm

July 10, 2014 - Financial Market Stress Increases Modestly from Previous Week’s Record Low - The St. Louis Fed Financial Stress Index increased modestly from the previous week’s record low. This was the first increase in four weeks. For the week ending July 4, 2014, the STLFSI measured -1.351, up slightly from the previous week’s revised value of -1.377. Despite the increase, the STLFSI is still below its year-to-date average of -1.206. www.stlouisfed.org/newsroom/displayNews.cfm?article=2241

July 10, 2014 - OccBin: A Toolkit for Solving Dynamic Models With Occasionally Binding Constraints Easily - We describe how to adapt a first-order perturbation approach and apply it in a piecewise fashion to handle occasionally binding constraints in dynamic models.  www.federalreserve.gov/pubs/feds/2014/201447/201447pap.pdf

July 10, 2014 - Advanced Notice of a Meeting under Expedited Procedures - Will be held on July 14, 2014. 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/20140710advexp.htm

July 9, 2014 - High Frequency Trading Recommendations - Chicago Fed paper summarizes updated research on high frequency trading strategies and makes recommendations for changes. - Most industry observers and much of the academic research in this area have concluded that high frequency trading is generally beneficial.  www.chicagofed.org/digital_assets/publications/policy_discussion_papers/2013/PDP2013-01.pdf

July 9, 2014 - Financial Conditions Edge Tighter in Week Ending July 4 - The NFCI and ANFCI ended the first half of 2014 nearly one and one-half standard deviations looser than average, respectively. www.chicagofed.org/webpages/publications/nfci/index.cfm

July 9, 2014 - OCC Hosts Risk Assessment and Compliance Risk Workshops in Syracuse - The Office of the Comptroller of the Currency will host two workshops in Syracuse, N.Y., at the Sheraton Syracuse University Hotel, Aug. 5-6, for directors of national community banks and federal savings associations. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-100.html

July 9, 2014 - OCC Increases Assessments for National Banks and Federal Savings Associations with Total Assets of More Than $40 Billion - The Office of the Comptroller of the Currency today published a final rule in the Federal Register that raises assessments on national banks and federal savings associations with total assets over $40 billion. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-99.html

July 9, 2014 - Minutes of the Federal Open Market Committee, June 17-18, 2014 - The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on June 17-18, 2014.  www.federalreserve.gov/monetarypolicy/files/fomcminutes20140618.pdf

July 8, 2014 - Is There a Trade-Off Between Low Bond Risk Premiums and Financial Stability? - Ben Chabot - It has been suggested that financial instability may be more likely following periods of low bond market risk premiums. The timing of past episodes of instability casts doubt upon the hypothesis that low levels of risk premiums sow the seeds of future instability. www.chicagofed.org/digital_assets/publications/chicago_fed_letter/2014/cflaugust2014_325.pdf

July 8, 2014 - NCUA - Reminder: Still Time to Register for NCUA’s July Training Events - NCUA will host a training workshop on July 23 in Pittsburgh, Pennsylvania, at the Four Points by Sheraton Pittsburgh North Hotel. Credit unions will have the opportunity to learn from industry leaders and discuss a number of financial operations and strategic management issues, including: www.ncua.gov/News/Pages/NW20140708TrainingEvents.aspx

July 8, 2014 - FDIC Announces Upcoming Community Affairs Webinar: Model Approaches to Community Bank/Community Development Financial Institution Partnerships - The FDIC's Division of Depositor and Consumer Protection Community Affairs Branch will host a webinar on Model Approaches to Community Bank/CDFI Partnerships on July 31, 2014, from 2:00 p.m. to 3:30 p.m. www.fdic.gov/news/news/financial/2014/fil14035.pdf

July 8, 2014 - Statistical Release - Consumer Credit - G.19 - In May, consumer credit increased at a seasonally adjusted annual rate of 7-1/2 percent. Revolving credit increased at an annual rate of 2-1/2 percent, while nonrevolving credit increased at an annual rate of 9-1/4 percent. www.federalreserve.gov/releases/g19/current/default.htm

July 8, 2014 - Reports to the Congress- Preserving Minority Depository Institutions - Analyzes the profitability over time of depository institutions' credit card activities by examining the performance of larger institutions that specialize in such activities and of a sample of smaller commercial banks that offer a range of credit services.  www.federalreserve.gov/publications/other-reports/files/preserving-minority-depository-institutions-2013.pdf

July 7, 2014 - Banker Teleconference Series - Timely and Comprehensive Information and Insights from the FDIC - On an ongoing basis, staff from the FDIC's Division of Depositor and Consumer Protection offers a series of banker events, including teleconferences and webinars, to maintain open lines of communication, and update bank management and staff on important banking regulatory and emerging issues in the compliance and consumer protection area. www.fdic.gov/news/news/financial/2014/fil14034.pdf 

July 7, 2014 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.  www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

July 7, 2014 - The Federal Reserve Board on Monday published a report regarding the Independent Foreclosure Review and the Payment Agreement that replaced the IFR. - The Payment Agreement required large mortgage servicers to provide approximately $10 billion in cash payments to eligible borrowers and other foreclosure prevention assistance. www.federalreserve.gov/newsevents/press/bcreg/20140707a.htm

July 7, 2014 - Reports to the Congress - Reports Pursuant to Section 129 of the Emergency Economic Stabilization Act.   www.federalreserve.gov/monetarypolicy/bst_reports.htm

July 7, 2014 - Economy to Move Down the Road at a Solid Pace in 2014 and Accelerate Slightly in 2015 - Jacob Berman, William A. Strauss -
According to participants in the Chicago Fed’s annual Automotive Outlook Symposium, the nation’s economic growth is forecasted to be solid this year and to strengthen somewhat in 2015.  http://chicagofed.org/webpages/publications/chicago_fed_letter/2014/july_324b.cfm

July 7, 2014 - Is There a Tradeoff Between Low Bond Risk Premiums and Financial Stability? - Chicago Fed Letter finds large increases in bond risk premiums are independent of the level or change in risk premiums or the real federal funds rate. www.chicagofed.org/digital_assets/publications/chicago_fed_letter/2014/cflaugust2014_325.pdf

July 3, 2014 - OCC Releases CRA Evaluations for 41 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 June 1, 2014 through June 30, 2014.  www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-98.html

July 3, 2014 - Financial Market Stress Falls to Record Low for Third Consecutive Week - The St. Louis Fed Financial Stress Index fell to a record low for the third consecutive week. For the week ending June 27, 2014, the STLFSI measured -1.369, down from the previous week’s revised value of -1.340. The STLFSI has been below zero for 130 consecutive weeks. www.stlouisfed.org/newsroom/displayNews.cfm?article=2245

July 3, 2014 - FDIC Issues List of Banks Examined for CRA Compliance.  www.fdic.gov/news/news/press/2014/pr14055.html ________________________________

July 2, 2014 - Notice of a Meeting under Expedited Procedures - Held on July 2, 2014. Matters considered: 1) Proposed Semiannual Monetary Policy Report to the Congress; 2) Board Oversight and Assessment of the Reserve Banks. http://www.federalreserve.gov/aboutthefed/boardmeetings/20140702exp.htm

July 2, 2014 - Surveys and Reports - Senior Credit Officer Opinion Survey on Dealer Financing Terms, June 2014 - The Senior Credit Officer Opinion Survey on Dealer Financing Terms is a quarterly survey providing information about the availability and terms of credit in securities financing and over-the counter derivatives markets. www.federalreserve.gov/econresdata/releases/scoos.htm

July 2, 2014 - Chair Janet L. Yellen - Monetary Policy and Financial Stability - At the 2014 Michel Camdessus Central Banking Lecture, International Monetary Fund, Washington, D.C. www.federalreserve.gov/newsevents/speech/yellen20140702a.htm

July 2, 2014 - Agencies Release Public Sections of Resolution Plans - The Federal Reserve Board and the Federal Deposit Insurance Corporation on Wednesday released the public portions of annual resolution plans for 17 financial firms. Each plan must describe the company's strategy for rapid and orderly resolution under the U.S. Bankruptcy Code in the event of material financial distress or failure of the company.
Press Release: www.federalreserve.gov/newsevents/press/bcreg/20140702b.htm
Press Release: www.fdic.gov/news/news/press/2014/pr14054.html

July 2, 2014 - Agencies issue host state loan-to-deposit ratios - The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency today issued the host state loan-to-deposit ratios that they will use to determine compliance with section 109 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994.
Press Release: www.federalreserve.gov/newsevents/press/bcreg/20140702a.htm
Press Release: www.fdic.gov/news/news/press/2014/pr14053.html
Press Release: www.occ.gov/news-issuances/news-releases/2014/nr-ia-2014-97.html

July 2, 2014 - NCUA Terminates Letter of Understanding and Agreement with Valley Pride - The National Credit Union Administration announced today that it has terminated its Published Letter of Understanding and Agreement, dated June 11, 2013, with Valley Pride Federal Credit Union of Plains, Pennsylvania. www.ncua.gov/News/Pages/NW20140702LetterUnderstanding.aspx

July 1, 2014 - OCC Reports First Quarter Trading Revenue of $6.1 Billion - Insured U.S. commercial banks and savings associations reported trading revenue of $6.1 billion in the first quarter of 2014, up $3.2 billion, or 108 percent, from $2.9 billion in the fourth quarter, the Office of the Comptroller of the Currency reported today in the OCC's Quarterly Report on Bank Trading and Derivatives Activities.  www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-96.html

July 1, 2014 - Notice of a Meeting under Expedited Procedures - Held on July 1, 2014. Matter Considered: Proposed Semiannual Monetary Policy Report to the Congress. - On Tuesday, July 1, 2014 at 10:00 AM, a meeting of the Board of Governors of the Federal Reserve System was held under expedited procedures, as set forth in section 26lb.7 of the Board's Rules Regarding Public Observation of Meetings.  www.federalreserve.gov/aboutthefed/boardmeetings/20140701exp.htm

July 1, 2014 - Agencies issue guidance for home equity lines of credit nearing their end-of-draw periods - Four federal financial institutions regulatory agencies and the Conference of State Bank Supervisors today issued guidance to financial institutions regarding home equity lines of credit nearing their "end-of-draw" periods, which occurs when the principal amount of the HELOC must begin to be repaid.
Press Release: www.federalreserve.gov/newsevents/press/bcreg/20140701a.htm
Press Release: www.federalreserve.gov/bankinforeg/srletters/sr1405.htm
Press Release: www.fdic.gov/news/news/press/2014/pr14052.html
Press Release: www.fdic.gov/news/news/financial/2014/fil14033.html
Press Release: www.occ.gov/news-issuances/news-releases/2014/nr-ia-2014-95.html
Press Release: www.ncua.gov/News/Pages/NW20140701HomeEquityLines.aspx

July 1, 2014 - Federal Reserve Board issues enforcement action with Turkiye Cumhuriyeti Ziraat Bankasi and Turkiye Cumhuriyeti Ziraat Bankasi New York Branch.  www.federalreserve.gov/newsevents/press/enforcement/20140701a.htm

July 1, 2014 - The Federal Reserve Board on Tuesday issued a consent order to cease and desist and a civil money penalty assessment of $3,510,000 against Cole Taylor Bank of Chicago, Illinois. The order addresses the participation by the bank and its agent, Higher One, Inc. of New Haven, Connecticut, in deceptive practices in violation of section 5 of the Federal Trade Commission Act. www.federalreserve.gov/newsevents/press/enforcement/20140701b.htm

July 1, 2014 - Federal Reserve Board announces approval of application by MB Financial, Inc. to acquire Taylor Capital Group Inc. www.federalreserve.gov/newsevents/press/orders/20140701a.htm

July 1, 2014 - Agencies Release List of Distressed or Underserved Nonmetropolitan Middle-Income Geographies.  http://www.occ.gov/news-issuances/news-releases/2014/nr-ia-2014-94.html

July 1, 2014 - Interagency Guidance on Home Equity Lines of Credit Nearing Their End-of-Draw Periods. 
http://www.fdic.gov/news/news/press/2014/pr14052.html