Virtual/remote audits - I am performing virtual/remote FFIEC IT/AIO 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.

Office of Inspector General - The FDIC has not implemented an effective sexual harassment prevention program that facilitates the reporting of sexual harassment misconduct allegations and has not always investigated and addressed allegations of sexual harassment promptly and effectively. https://www.fdicoig.gov/sites/default/files/reports/2024-08/EVAL-24-05.pdf

July 31, 2024 - NCUA Prohibits Two Individuals from Participating in the Affairs of Any Federally Insured Depository Institution. www.ncua.gov/newsroom/press-release/2024/ncua-prohibits-two-individuals-participating-affairs-any-federally-insured-depository-institution  

July 31, 2024 - Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Kentucky Affected by Severe Storms, Straight-line Winds, Tornadoes, Landslides, and Mudslides.   www.fdic.gov/news/financial-institution-letters/2024/guidance-help-financial-institutions-and-facilitate-4

July 31, 2024 - Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Missouri Affected by Severe Storms, Straight-line Winds, Tornadoes, and Flooding.   www.fdic.gov/news/financial-institution-letters/2024/guidance-help-financial-institutions-and-facilitate-3

July 31, 2024 - Federal Reserve issues FOMC statement - Recent indicators suggest that economic activity has continued to expand at a solid pace. Job gains have moderated, and the unemployment rate has moved up but remains low. Inflation has eased over the past year but remains somewhat elevated. www.federalreserve.gov/newsevents/pressreleases/monetary20240731a.htm

July 30, 2024 - Acting Comptroller Issues Statements on Bank Liquidity and Bank Resolvability - Acting Comptroller of the Currency Michael J. Hsu issued statements at today’s Federal Deposit Insurance Corporation board meeting regarding proposed rulemakings on bank liquidity and bank ownership, and final guidance on bank resolvability. www.occ.gov/news-issuances/news-releases/2024/nr-occ-2024-86.html

July 30, 2024 - FDIC Board Approves Revisions to Section 19 Regulations - The Federal Deposit Insurance Corporation Board of Directors today approved revisions to regulations under Section 19 of the Federal Deposit Insurance Act to conform to the Fair Hiring in Banking Act, which became effective on December 23, 2022. www.fdic.gov/news/press-releases/2024/fdic-board-approves-revisions-section-19-regulations

July 30, 2024 - FDIC Board Approves Proposed Rule to Amend Change in Bank Control Act Regulations - The Federal Deposit Insurance Corporation Board of Directors today approved a Notice of Proposed Rulemaking to amend the agency’s regulations under the Change in Bank Control Act. www.fdic.gov/news/press-releases/2024/fdic-board-approves-proposed-rule-amend-change-bank-control-act

July 30, 2024 - FDIC Approves Final Guidance to Enhance Resolution Planning at Large Banks - The Federal Deposit Insurance Corporation Board of Directors approved final joint guidance to help certain banks further develop their resolution plans. https://www.fdic.gov/news/press-releases/2024/fdic-approves-final-guidance-enhance-resolution-planning-large-banks

July 30, 2024 - FDIC Board Approves Proposed Rule to Amend the Agency’s Regulations Governing Parent Companies of Industrial Banks and Industrial Loan Companies - The Federal Deposit Insurance Corporation Board of Directors today approved a notice of proposed rulemaking to amend part 354 of the FDIC Rules and Regulations governing parent companies of industrial banks and industrial loan companies. www.fdic.gov/news/press-releases/2024/fdic-board-approves-proposed-rule-amend-agencys-regulations-governing

July 30, 2024 - FDIC Board Approves Request for Information on Deposits - The Federal Deposit Insurance Corporation Board of Directors today approved a request for information soliciting the public’s comments on deposit data that is not currently reported in the Call Report or other regulatory reports, including for uninsured deposits. www.fdic.gov/news/press-releases/2024/fdic-board-approves-request-information-deposits

July 30, 2024 - FDIC Board Approves Proposed Rule to Revise Brokered Deposit Regulations - The Federal Deposit Insurance Corporation Board of Directors today approved a notice of proposed rulemaking to strengthen the important prudential protections of the agency’s safety and soundness rule on brokered deposits that implements section 29 of the Federal Deposit Insurance Act. www.fdic.gov/news/press-releases/2024/fdic-board-approves-proposed-rule-revise-brokered-deposit-regulations

July 29, 2024 - Female Labor Force Participation in the Post-Pandemic Era - As part of our Spotlight on Childcare and the Labor Market, a targeted effort to understand how access to childcare can affect employment and the economy, this article documents a striking change in the American labor market: The labor force participation rate for women is higher than it was prior to the pandemic. www.chicagofed.org/publications/chicago-fed-insights/2024/female-labor-force-participation

July 29, 2024 - Federal Reserve Board announces approval of application by A.N.B. Holding Company, Ltd. www.federalreserve.gov/newsevents/pressreleases/orders20240729a.htm

July 26, 2024 - 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 2024. www.fdic.gov/news/press-releases/2024/fdic-makes-public-june-enforcement-actions

July 26, 2024 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

July 26, 2024 - Federal Reserve Board announces termination of enforcement action with Silvergate Bank and its holding company, Silvergate Capital Corporation.   www.federalreserve.gov/newsevents/pressreleases/enforcement20240726a.htm

July 25, 2024 - Anti-Money Laundering and Countering the Financing of Terrorism Program Requirements: Notice of Proposed Rulemaking.  www.occ.gov/news-issuances/bulletins/2024/bulletin-2024-19.html

July 25, 2024 - Bank-Fintech Arrangements: Request for Information on Arrangements Involving Banking Products and Services Distributed to Consumers and Businesses.  www.occ.gov/news-issuances/bulletins/2024/bulletin-2024-21.html

July 25, 2024 - Agencies remind banks of potential risks associated with third-party deposit arrangements and request additional information on bank-fintech arrangements - The federal bank regulatory agencies today issued a statement reminding banks of potential risks associated with third-party arrangements to deliver bank deposit products and services.
Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20240725c.htm
Press Release: www.fdic.gov/news/press-releases/2024/agencies-remind-banks-potential-risks-associated-third-party-deposit
Press Release: www.fdic.gov/news/financial-institution-letters/2024/agencies-issue-statement-bank-arrangements-third-parties
Press Release: https://www.occ.gov/news-issuances/news-releases/2024/nr-ia-2024-85.html

July 25, 2024 - Agencies announce public outreach meeting as part of their review of regulations - Federal bank regulatory agencies will hold a virtual public outreach meeting on September 25, 2024, as part of their review of regulations under the Economic Growth and Regulatory Paperwork Reduction Act of 1996.
Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20240725b.htm
Press Release: www.fdic.gov/news/press-releases/2024/agencies-announce-public-outreach-meeting-part-their-review-regulations
Press Release: www.occ.gov/news-issuances/news-releases/2024/nr-ia-2024-84.html

July 25, 2024 - Federal bank regulatory agencies seek comment on interagency effort to reduce regulatory burden - The Economic Growth and Regulatory Paperwork Reduction Act of 1996 requires the Federal Financial Institutions Examination Council and federal bank regulatory agencies to review their regulations every 10 years to identify outdated or otherwise unnecessary regulatory requirements for their supervised institutions.
Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20240725a.htm
Press Release: www.fdic.gov/news/press-releases/2024/federal-bank-regulatory-agencies-seek-comment-interagency-effort-reduce _______________________________________

July 25, 2024 - Steve Edwards to Lead External Affairs and Civic Engagement and for Chicago Fed - Steve Edwards has been named executive vice president for external affairs and civic engagement at the Federal Reserve Bank of Chicago effective August 13. www.chicagofed.org/publications/news/2024/steve-edwards-to-lead-external-affairs-and-civic-engagement-for-chicago-fed

July 25, 2024 - Tenth District Manufacturing Activity Continued to Fall in July - Our regional factory index was at its lowest level in four years in July. The volume of shipments and new orders fell substantially while production and employment levels decreased at a moderate pace, but a majority of firms expect to maintain or increase current levels in the next six months. www.kansascityfed.org/surveys/manufacturing-survey/tenth-district-manufacturing-activity-continued-to-fall-in-july/

July 25, 2024 - 2023 Financial Institution Diversity Self-Assessment: Voluntary Self-Assessments Accepted Now through October 31, 2024 - In accordance with the Interagency Policy Statement Establishing Joint Standards for Assessing the Diversity Policies and Practices of Entities Regulated by the Agencies developed pursuant to Section 342 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, FDIC-supervised financial institutions are encouraged to voluntarily conduct and submit self-assessments of their diversity policies and practices by October 31, 2024. https://www.fdic.gov/news/financial-institution-letters/2024/2023-financial-institution-diversity-self-assessment

July 24, 2024 - Female Labor Force Participation in the Post-Pandemic Era - By Camilo Garcia-Jimeno , Luojia Hu - As part of our Spotlight on Childcare and the Labor Market, a targeted effort to understand how access to childcare can affect employment and the economy, this article documents a striking change in the American labor market: The labor force participation rate for women is higher than it was prior to the pandemic. www.chicagofed.org/publications/chicago-fed-insights/2024/female-labor-force-participation

July 24, 2024 - Opening remarks by Governor Bowman at "Advance Together: Celebrating the Achievements of Texas Community Partnerships," a public event at the Federal Reserve Bank of Dallas At "Advance Together: Celebrating the Achievements of Texas Community Partnerships," a public event at the Federal Reserve Bank of Dallas, Dallas, Texas (via pre-recorded video).  www.federalreserve.gov/newsevents/speech/bowman20240724a.htm

July 23, 2024 - Statistical Release - Money Stock Measures - H.6 Release - The Board of Governors of the Federal Reserve System and the Federal Reserve Bank of St. Louis's Federal Reserve Economic Data program are working together to expand options for finding, accessing, and visualizing data from the Board's Data Download Program in FRED. www.federalreserve.gov/Releases/h6/current/default.htm

July 23, 2024 - Federal Reserve Board issues enforcement action with North Shore Bank of Commerce.  www.federalreserve.gov/newsevents/pressreleases/enforcement20240723a.htm

July 22, 2024 - Final Rule on Real Estate Valuations: Quality Control Standards for Automated Valuation Models - The contents of, and material referenced in, this FIL apply to all FDIC-supervised financial institutions. www.fdic.gov/news/financial-institution-letters/2024/final-rule-real-estate-valuations-quality-control-standards

July 22, 2024 - Interagency Statement on the Issuance of the AML/CFT Program Notices of Proposed Rulemaking - This interagency statement is relevant to banking organizations supervised by the Federal Reserve that are subject to the Bank Secrecy Act with anti-money laundering/countering the financing of terrorism program requirements.
Press Release: www.federalreserve.gov/supervisionreg/srletters/SR2404.htm

July 22, 2024 - Federal Reserve Board announces approval of application by Resona Bank, Limited.  www.federalreserve.gov/newsevents/pressreleases/orders20240722a.htm

July 19, 2024 - Comparing the Uses of Local Fiscal Recovery Funds in the Seventh District�s Large Cities and Their Counties - In response to the economic impacts of the Covid-19 pandemic, the U.S. federal government enacted the landmark American Rescue Plan Act. www.chicagofed.org/publications/chicago-fed-insights/2024/seventh-district-city-county-slfrf-spending

July 19, 2024 - Black Baseball History Honored in New Exhibit at Chicago Fed Money Museum - In 2020 this congressional initiative celebrated the 100th anniversary of the founding of the Negro National League, the first successful Black professional baseball league. www.chicagofed.org/publications/chicago-fed-insights/2024/black-baseball-history-honored-new-exhibit

July 19, 2024 - Insurers' Investments and Insurance Prices - We develop a theory that connects insurance prices, insurance companies� investment behavior, and equilibrium asset prices. www.federalreserve.gov/econres/feds/insurers-investments-and-insurance-prices.htm

July 19, 2024 - Tax Heterogeneity and Misallocation - There is substantial asymmetry in effective corporate income tax rates across firms. www.federalreserve.gov/econres/ifdp/tax-heterogeneity-and-misallocation.htm

July 19, 2024 - Small-dollar loans were brought into the spotlight in March 2020, when five agencies�the Board of Governors of the Federal Reserve System, the Consumer Financial Protection Bureau, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Office of the Comptroller of the Currency�issued a joint statement encouraging their supervised financial institutions to offer such loans to consumers and small businesses in response to the onset of the pandemic. 
www.federalreserve.gov/econres/notes/feds-notes/small-dollar-loans-in-the-us-evidence-from-credit-bureau-data-20240719.html

July 19, 2024 - Small-Dollar Loans in the U.S.: Evidence from Credit Bureau Data - https://www.federalreserve.gov/econres/notes/feds-notes/small-dollar-loans-in-the-us-evidence-from-credit-bureau-data-accessible-20240719.htm

July 19, 2024 - Global Implications of Brighter U.S. Productivity Prospects - Investment related to artificial intelligence (AI) is booming in the U.S. compared to other countries. www.federalreserve.gov/econres/notes/feds-notes/global-implications-of-brighter-us-productivity-prospects-20240719.html

July 19, 2024 - Has the Inflation Process Become More Persistent? Evidence from the Major Advanced Economies - The sustained surge in inflation around the world following the pandemic has raised the possibility that the inflation process has become more persistent. www.federalreserve.gov/econres/notes/feds-notes/has-the-inflation-process-become-more-persistent-evidence-from-the-major-advanced-economies-20240719.html

July 19, 2024 - Evaluating Forecast Performance of Market-based Measures of Inflation Expectations in Europe - Predictions of future inflation rates shed light on the path of the economy and inform central banks' policy rate decisions. www.federalreserve.gov/econres/notes/feds-notes/evaluating-forecast-performance-of-market-based-measures-of-inflation-expectations-in-europe-20240719.html

July 19, 2024 - Recent balance sheet trends, weekly chart update.  www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

July 19, 2024 - Agencies request comment on anti-money laundering/countering the financing of terrorism proposed rule - Four federal financial institution regulatory agencies today requested comment on a proposal to update their requirements for supervised institutions to establish, implement, and maintain effective, risk-based, and reasonably designed anti-money laundering and countering the financing of terrorism programs.
Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20240719a.htm
Press Release: www.fdic.gov/news/press-releases/2024/agencies-request-comment-anti-money-launderingcountering-financing
Press Release: www.occ.gov/news-issuances/news-releases/2024/nr-ia-2024-82.html
Press Release: www.ncua.gov/newsroom/press-release/2024/agencies-request-comment-anti-money-launderingcountering-financing-terrorism-proposed-rule

July 19, 2024 - Federal Reserve Board issues enforcement action with Jiko Group, Inc. www.federalreserve.gov/newsevents/pressreleases/enforcement20240719a.htm

July 19, 2024 - Federal Reserve Board takes action to address consumer compliance breakdowns by Green Dot, fining the firm $44 million for numerous unfair and deceptive practices and a deficient consumer compliance risk management program.  www.federalreserve.gov/newsevents/pressreleases/enforcement20240719b.htm

July 18, 2024 - More Households Are Tapping into Their Home Equity After Rapid Home Value Appreciation - The use of home equity lines of credit grew over the last two years after nearly a decade of declining balances. www.kansascityfed.org/denver/rocky-mountain-economist/more-households-are-tapping-into-their-home-equity-after-rapid-home-value-appreciation/
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July 18, 2024 - OCC Announces Enforcement Actions for July 2024 - The Office of the Comptroller of the Currency today released enforcement actions taken against national banks and federal savings associations, and individuals currently and formerly affiliated with banks the OCC supervises. www.occ.gov/news-issuances/news-releases/2024/nr-occ-2024-80.html

July 18, 2024 - Balance-Sheet Netting in U.S. Treasury Markets and Central Clearing - In this paper, we provide a comprehensive investigation of the potential for expanded central clearing to reduce the costs of the supplementary leverage ratio on Treasury market intermediation in both cash and repo markets. https://www.federalreserve.gov/econres/feds/balance-sheet-netting-in-us-treasury-markets-and-central-clearing.htm

July 18, 2024 - Agencies finalize interagency guidance on reconsiderations of value for residential real estate valuations
Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20240718a.htm
Press Release: www.fdic.gov/news/press-releases/2024/agencies-finalize-interagency-guidance-reconsiderations-value-residential
Press Release: www.occ.gov/news-issuances/news-releases/2024/nr-ia-2024-81.html
Press Release: www.ncua.gov/newsroom/press-release/2024/agencies-finalize-interagency-guidance-reconsiderations-value-residential-real-estate-valuations

July 18, 2024 - NCUA Board Approves Proposed Rules on Incentive-based Compensation, Succession Planning - The National Credit Union Administration Board held its fifth open meeting of 2024 and approved a proposed rule on incentive-based compensation and a revised proposed rule on succession planning. www.ncua.gov/newsroom/press-release/2024/ncua-board-approves-proposed-rules-incentive-based-compensation-succession-planning 

July 17, 2024 - Qua lity Control Standards for Automated Valuation Models: Final Rule - The Office of the Comptroller of the Currency, along with the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Consumer Financial Protection Bureau, and the Federal Housing Finance Agency have adopted a final rule designed to implement quality control standards for automated valuation models used by mortgage originators and secondary market issuers in valuing residential real estate. www.occ.treas.gov/news-issuances/bulletins/2024/bulletin-2024-17.html

July 17, 2024 - Acting Comptroller Discusses Trends Reshaping Banking - Acting Comptroller of the Currency Michael J. Hsu today discussed three key long-term trends that are reshaping banking in remarks at the Exchequer Club. www.occ.gov/news-issuances/news-releases/2024/nr-occ-2024-79.html

July 17, 2024 - St. Louis Fed Releases Beige Book - The local report summarizes economic conditions for the Eighth District, which is based in St. Louis and covers all of Arkansas and parts of Illinois, Indiana, Kentucky, Mississippi, Missouri and Tennessee. www.stlouisfed.org/news-releases/2024/07/st-louis-fed-releases-beige-book

July 17, 2024 - Economy Museum Receives Tripadvisor Travelers� Choice Award - The Federal Reserve Bank of St. Louis Economy Museum won the 2024 Tripadvisor Travelers� Choice Award due to its commitment to hospitality. www.stlouisfed.org/news-releases/2024/07/museum-receives-tripadvisor-award

July 17, 2024 - Beige Book - Informal review by the Federal Reserve Banks of current economic conditions in their Districts - Economic activity maintained a slight to modest pace of growth in a majority of Districts this reporting cycle. www.federalreserve.gov/monetarypolicy/beigebook202407-summary.htm
 
July 17, 2024 - One Month Longer, One Month Later? Prepayments in the Auto Loan Market - We document a secular trend of increasing auto loan maturity from 30 months to over 70 months during the past 50 years, partly reflecting improved vehicle durability. www.federalreserve.gov/econres/feds/one-month-longer-one-month-later-prepayments-in-the-auto-loan-market.htm

July 17, 2024 - Industrial Production and Capacity Utilization - G.17 - Industrial production rose 0.6 percent in June after advancing 0.9 percent in May. www.federalreserve.gov/releases/g17/current/default.htm

July 17, 2024 - Speech by Governor Waller on the economic outlook At the Federal Reserve Bank of Kansas City, Kansas City, Missouri www.federalreserve.gov/newsevents/speech/waller20240717a.htm

July 17, 2024 - Agencies issue final rule to help ensure credibility and integrity of automated valuation models - Six federal regulatory agencies today issued a final rule, pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act, designed to help ensure the credibility and integrity of models used in valuations for certain mortgages secured by a consumer's principal dwelling.
Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20240717a.htm
Press Release: www.fdic.gov/news/press-releases/2024/agencies-issue-final-rule-help-ensure-credibility-and-integrity-automated
Press Release: www.occ.gov/news-issuances/news-releases/2024/nr-ia-2024-78.html
Press Release: https://ncua.gov/newsroom/press-release/2024/agencies-issue-final-rule-help-ensure-credibility-and-integrity-automated-valuation-models

July 16, 2024 - Federal Reserve Bank of Chicago�s Detroit Branch Announces New Board Member - Richard Keyes, President and Chief Executive Officer, Meijer, Grand Rapids, Michigan, was appointed by the Board of Governors of the Federal Reserve System to serve the remainder of an unexpired term concluding December 31, 2026. www.chicagofed.org/publications/news/2024/chicago-fed-detroit-branch-announces-new-board-member

July 16, 2024 - Comparing the Uses of Local Fiscal Recovery Funds in the Seventh District�s Large Cities and Their Counties - In response to the economic impacts of the Covid-19 pandemic, the U.S. federal government enacted the landmark American Rescue Plan Act. www.chicagofed.org/publications/chicago-fed-insights/2024/seventh-district-city-county-slfrf-spending

July 16, 2024 - Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Texas Affected by Hurricane Beryl. www.fdic.gov/news/financial-institution-letters/2024/guidance-help-financial-institutions-and-facilitate-2

July 16, 2024 - Targeted Relief: Geography and Timing of Emergency Rental Assistance -- We provide new evidence on the implementation of ERA by examining the fine-grained geographic distribution of ERA funds and the timing of ERA expenditures by state and local governments. www.federalreserve.gov/econres/feds/targeted-relief-geography-and-timing-of-emergency-rental-assistance.htm

July 16, 2024 - Speech by Governor Kugler on the challenges facing economic measurement and creative solutions At the 21st Annual Economic Measurement Seminar, National Association for Business Economics Foundation, Washington, D.C. www.federalreserve.gov/newsevents/speech/kugler20240716a.htm

July 15, 2024 - Publication - Consumer & Community Context, July 2024 - Expanding America�s Bandwidth: Gaps in Rural and Underserved Communities. www.federalreserve.gov/publications/files/consumer-community-context-20240715.pdf

July 12, 2024 - National Association of State Treasurers Annual Conference - Chicago Fed President and CEO Austan Goolsbee will engage in a keynote conversation on monetary policy and the U.S. economy on Sept. 23, 2024, at the annual NAST meeting taking place at Swissotel Chicago. www.chicagofed.org/publications/speeches/2024/sept-23-national-association-state-treasurers

July 12, 2024 - Tenth District Energy Activity Continued to Decline - Second quarter energy survey results revealed that Tenth District energy activity continued to decline but is expected to rebound. www.kansascityfed.org/surveys/energy-survey/tenth-district-energy-activity-continued-to-decline/

July 12, 2024 - Why Have Long-term Treasury Yields Fallen Since the 1980s? Expected Short Rates and Term Premiums in (Quasi-) Real Time - Treasury yields have fallen since the 1980s. Standard decompositions of Treasury yields into expected short-term interest rates and term premiums suggest term premiums account for much of the decline. www.federalreserve.gov/econres/feds/why-have-long-term-treasury-yields-fallen-since-the-1980s-expected-short-rates-and-term-premiums-in-quasi-real-time.htm

July 12, 2024 - What Can Measured Beliefs Tell Us About Monetary Non-Neutrality? - In a general equilibrium model with both nominal rigidities and endogenous information acquisition, we analytically characterize firms� optimal dynamic information policies and how their beliefs affect monetary non-neutrality. www.federalreserve.gov/econres/feds/what-can-measured-beliefs-tell-us-about-monetary-non-neutrality.htm

July 12, 2024 - FRB/US dataset and variable listing - July 12, 2024 update - The main FRB/US model EViews package contains model equations, programs and documentation that enables various types of simulations and provides information about the model's structure using the EViews software. www.federalreserve.gov/econres/us-models-package.htm

July 12, 2024 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update.  www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

July 12, 2024 - HANK Comes of Age - We study the aggregate and distributional effects of monetary policy in a heterogeneous agent New Keynesian model that explicitly represents the life cycle of households. www.federalreserve.gov/econres/feds/hank-comes-of-age.htm

July 12, 2024 - Advisory Council - Federal Advisory Council, Record of Meeting - May 23, 2024 - 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

July 12, 2024 - Central Clearing Counterparties in the Financial Accounts of the United States - The March 7, 2024, release of the Z.1 Financial Accounts of the United States introduced a new supplementary table, Central Clearing Counterparties, which separately reports financial assets and liabilities of central clearing counterparties. www.federalreserve.gov/econres/notes/feds-notes/central-clearing-counterparties-in-the-financial-accounts-of-the-united-states-20240712.html

July 12, 2024 - Agencies release list of distressed or underserved nonmetropolitan middle-income geographies - Federal bank regulatory agencies today released the 2024 list of distressed or underserved nonmetropolitan middle-income geographies where certain bank activities are eligible for Community Reinvestment Act credit.
Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20240712a.htm
Press Release: www.ffiec.gov/press/pr071224.htm
Press Release: www.occ.gov/news-issuances/news-releases/2024/nr-ia-2024-77.html

July 11, 2024 - FFIEC Publishes 2023 Data on Mortgage Lending - The Federal Financial Institutions Examination Council today published data on 2023 mortgage lending transactions reported under the Home Mortgage Disclosure Act by 5,113 U.S. www.ncua.gov/newsroom/press-release/2024/ffiec-publishes-2023-data-mortgage-lending

July 11, 2024 - Exchange Rate Disconnect and the Trade Balance - We propose a model with costly international financial intermediation that links exchange rate movements to shifts in the demand for domestically produced goods relative to the demand for imported goods. www.federalreserve.gov/econres/ifdp/exchange-rate-disconnect-and-the-trade-balance.ht
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July 11, 2024 - The Federal Financial Institutions Examination Council today published data on 2023 mortgage lending transactions reported under the Home Mortgage Disclosure Act by 5,113 U.S. financial institutions, including banks, savings associations, credit unions, and mortgage companies. www.ffiec.gov/press/pr071124.htm

July 11, 2024 - Consolidated Reports of Condition and Income for Second Quarter 2024 - The attached materials pertain to the Consolidated Reports of Condition and Income for the June 30, 2024, report date and provide guidance on certain reporting issues. www.fdic.gov/news/financial-institution-letters/2024/consolidated-reports-condition-and-income-second-quarter

July 11, 2024 - Optimal Design of Contingent Capital - CoCos designed this way (i) are either optimal or incentive compatible for equity holders, (ii) implement a unique equilibrium, and (iii) result in an optimal capital structure for the firm. www.federalreserve.gov/econres/feds/optimal-design-of-contingent-capital.htm

July 11, 2024 - (Re-)Connecting Inflation and the Labor Market: A Tale of Two Curves - We propose an empirical framework in which shocks to worker reallocation, aggregate activity, and labor supply drive the joint dynamics of labor market outcomes and inflation, and where reallocation shocks take two forms depending on whether they result from quits or from job loss. www.federalreserve.gov/econres/feds/reconnecting-inflation-and-the-labor-market-a-tale-of-two-curves.htm

July 11, 2024 - Report and Disclosures on Funding, Credit, Liquidity, and Loan Facilities.  www.federalreserve.gov/publications/reports-to-congress-in-response-to-covid-19.htm

July 11, 2024 - Report to Congress Pursuant to Section 13(3) of the Federal Reserve Act: Bank Term Funding Program.  www.federalreserve.gov/publications/reports-to-congress-pursuant-to-section-13-3-btfp.htm

July 11, 2024 - Predicting Analysts� S&P 500 Earnings Forecast Errors and Stock Market Returns using Macroeconomic Data and Nowcasts - This study scrutinizes the quality of �bottom-up� forecasts of near-term S&P 500 Composite earnings, derived by aggregating analysts� forecasts for individual firm-level earnings. www.federalreserve.gov/econres/feds/predicting-analysts-sp-500-earnings-forecast-errors-and-stock-market-returns-using-macroeconomic-data-and-nowcasts.htm

July 10, 2024 - OCC Amends Enforcement Action Against Citibank, Assesses $75 Million Civil Money Penalty - The Office of the Comptroller of the Currency today issued an amendment to its October 7, 2020, Cease and Desist Order against Citibank, N.A, Sioux Falls, South Dakota, related to deficiencies in enterprise-wide risk management, compliance risk management, data governance, and internal controls. www.occ.gov/news-issuances/news-releases/2024/nr-occ-2024-76.html

July 10, 2024 - Acting Comptroller Discusses Importance of Addressing Financial Fraud - Acting Comptroller of the Currency Michael J. Hsu today discussed ways banks can assist their customers in avoiding fraud and scams in remarks during the Financial Literacy and Education Commission�s Public Meeting. www.occ.gov/news-issuances/news-releases/2024/nr-occ-2024-75.html

July 10, 2024 - Opening remarks by Governor Bowman at a Fed Listens event hosted by the Federal Reserve Bank of Chicago At Fed Listens: Exploring Challenges Facing the Childcare Industry, Working Parents, and Employers, Chicago, Illinois. www.federalreserve.gov/newsevents/speech/bowman20240710a.htm

July 10, 2024 - Federal Reserve Board fines Citigroup $60.6 million for violating the Board�s 2020 enforcement action.  www.federalreserve.gov/newsevents/pressreleases/enforcement20240710a.htm

July 9, 2024 - OCC's Renews Mutual Savings Association Advisory Committee Charter, Seeks Nominations - The Office of the Comptroller of the Currency has renewed the charter of its Mutual Savings Association Advisory Committee and seeks nominations for its members. www.occ.gov/news-issuances/news-releases/2024/nr-occ-2024-74.html

July 9, 2024 - OCC Renews Minority Depository Institutions Advisory Committee, Seeks Nominations - The Office of the Comptroller of the Currency has renewed the charter of its Minority Depository Institutions Advisory Committee and is seeking nominations for its members. www.occ.gov/news-issuances/news-releases/2024/nr-occ-2024-73.html

July 9, 2024 - Speech by Vice Chair for Supervision Michael S. Barr - Financial Inclusion: Past, Present, and Hopes for the Future At Financial Inclusion Practices and Innovations Conference, Board of Governors of the Federal Reserve System, Washington, D.C. www.federalreserve.gov/newsevents/speech/barr20240709a.htm

July 9, 2024 - Testimony by Chair Powell on the 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/powell20240709a.htm

July 9, 2024 - Speech by Governor Bowman on promoting an inclusive financial system At Financial Inclusion Practices and Innovations, Washington, D.C. www.federalreserve.gov/newsevents/speech/bowman20240709a.htm

July 9, 2024 - Minutes of the Board's discount rate meetings on June 3 and June 12, 2024.  www.federalreserve.gov/newsevents/pressreleases/monetary20240709a.htm

July 8, 2024 -NCUA Extends CDRLF Grant Deadline to July 12 - The agency will administer more than $3.4 million in CDRLF grants to the most-qualified applicants, subject to the availability of funds. www.ncua.gov/newsroom/press-release/2024/ncua-extends-cdrlf-grant-deadline-july-12

July 8, 2024 - FDIC Issues List of Banks Examined for CRA Compliance - The list covers evaluation ratings that the FDIC assigned to institutions in April 2024. www.fdic.gov/news/press-releases/2024/fdic-issues-list-banks-examined-cra-compliance

July 8, 2024 -Statistical Release - Consumer Credit - G.19 - In May, consumer credit increased at a seasonally adjusted annual rate of 2.7 percent.  www.federalreserve.gov/releases/g19/current/default.htm

July 8, 2024 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update.  www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

July 8, 2024 - Regulatory Reform - Communications with the public through July 8, 2024 - During the Federal Reserve Board�s rulemaking process, meetings will take place between the Board and the public�including, for example, representatives of bank organizations, consumer groups, trade associations, researchers, and academics--that allow the Board to gather information and help educate the public on matters subject to agency rulemaking. www.federalreserve.gov/regreform/communications-with-public.htm
 
July 5, 2024 - FOIA - Chair Powell's calendar, May 2024. www.federalreserve.gov/foia/chair-powell-calendar-052024.htm

July 5, 2024 - Monetary Policy Report - The Federal Reserve Act requires the Federal Reserve Board to submit written reports to Congress containing discussions of "the conduct of monetary policy and economic developments and prospects for the future." www.federalreserve.gov/monetarypolicy/publications/mpr_default.htm
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July 3, 2024 - OCC Guidelines Establishing Standards for Recovery Planning by Certain Large Insured National Banks, Insured Federal Savings Associations, and Insured Federal Branches: Notice of Proposed Rulemaking www.occ.treas.gov/news-issuances/bulletins/2024/bulletin-2024-16.html

July 3, 2024 - Minutes of the Federal Open Market Committee, June 11�12, 2024.  www.federalreserve.gov/newsevents/pressreleases/monetary20240703a.htm

July 2, 2024 - St. Louis Fed Names New SVP of External Engagement and Corporate Communications - Ken Fields, who currently serves as senior vice president and senior partner for FleishmanHillard, will join the Federal Reserve Bank of St. Louis in August as senior vice president of the External Engagement and Corporate Communications Division. www.stlouisfed.org/news-releases/2024/07/st-louis-fed-names-new-svp

July 1, 2024 - OCC Releases CRA Evaluations for 21 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, 2024, through June 30, 2024. www.occ.gov/news-issuances/news-releases/2024/nr-occ-2024-72.html

July 1, 2024 - Statistical Release - Foreign Exchange Rates - G.5 - The table below shows the average rates of exchange in JUNE 2024 together with comparable figures for other months. www.federalreserve.gov/releases/g5/current/default.htm

July 1, 2024 - Federal Reserve Board fines Silvergate Capital Corporation and Silvergate Bank $43 million for deficiencies in Silvergate�s monitoring of transactions in compliance with anti-money laundering law https://www.federalreserve.gov/newsevents/pressreleases.htm