The E-mail Banking News
(Bank Regulatory News)
June 2015

FYI - Our cybersecurity testing meets the independent pen-test requirements outlined in the FFIEC Information Security booklet.  Independent pen-testing is part of any financial institution's cybersecurity defense.  To receive due diligence information, agreement and, cost saving fees, please complete the information form at https://yennik.com/forms-vista-info/external_vista_info_form.htm.  All communication is kept strictly confidential.

June 30, 2015 - FFIEC Releases Cybersecurity Assessment Tool - The Federal Financial Institutions Examination Council, on behalf of its members, today released a Cybersecurity Assessment Tool to help institutions identify their risks and assess their cybersecurity preparedness. www.ncua.gov/News/Pages/NW20150630FFIEC.aspx

June 30, 2015 - NCUA Issues Prohibition Orders - The National Credit Union Administration has issued four orders in June prohibiting the following individuals from participating in the affairs of any federally insured financial institution: www.ncua.gov/News/Pages/NW20150630ProhibitionOrders.aspx

June 30, 2015 - OCC Report Discusses Risks Facing National Banks and Federal Savings Associations - Interest rate, underwriting, strategic, compliance, and cybersecurity top the Office of the Comptroller of the Currency’s supervisory concerns in its Semiannual Risk Perspective for Spring 2015, released today. www.occ.gov/news-issuances/news-releases/2015/nr-occ-2015-94.html

June 30, 2015 - Interagency Consumer Compliance Examination Procedures for Truth in Lending Act and Real Estate Settlement Procedures Act Mortgage Rules - The FDIC has released revised interagency examination procedures for the new Truth in Lending Act - Real Estate Settlement Procedures Act Integrated Disclosure Rule, as well as amendments to other provisions of TILA Regulation Z and RESPA Regulation X.  www.fdic.gov/news/news/financial/2015/fil15027.html

June 30, 2015 - Is the Intrinsic Value of Macroeconomic News Announcements Related to their Asset Price Impact? - Thomas Gilbert, Chiara Scotti, Georg Strasser, and Clara Vega - The literature documents a heterogeneous asset price response to macroeconomic news announcements:  www.federalreserve.gov/econresdata/feds/2015/files/2015046pap.pdf

June 30, 2015 - Vice Chairman Stanley Fischer - Monetary Policy in the United States and in Developing Countries - At the Crockett Governors' Roundtable 2015 for African Central Bankers, University of Oxford, Oxford, United Kingdom.  www.federalreserve.gov/newsevents/speech/fischer20150630a.htm

June 29, 2015 - OCC Reports First Quarter Bank Trading Revenue of $7.7 Billion - Insured U.S. commercial banks and savings institutions reported trading revenue of $7.7 billion in the first quarter of 2015, $3.2 billion higher (72 percent) than 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/2015/nr-occ-2015-93.html

June 29, 2015 - 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. www.occ.gov/news-issuances/news-releases/2015/nr-ia-2015-92.html

June 29, 2015 - Regulatory Relief - Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Arkansas Affected by Severe Storms, Tornadoes, Straight-Line Winds, and Flooding. - The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and to facilitate recovery in areas of Arkansas affected by severe storms, tornadoes, straight-line winds, and flooding. www.fdic.gov/news/news/financial/2015/fil15026.html

June 29, 2015 - 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. These ratios update data released on July 2, 2014. www.fdic.gov/news/news/press/2015/pr15054.html

June 29, 2015 - Statistical Release - Finance Companies - G.20.  www.federalreserve.gov/releases/g20/Current/

June 29, 2015 - FRB/US model packages - The main FRB/US model package is a self-contained set of equations, data, programs and documentation that enables various types of simulations and provides information about the model's structure.  www.federalreserve.gov/econresdata/frbus/us-models-package.htm

June 29, 2015 - 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. These ratios update data released on July 2, 2014. www.federalreserve.gov/newsevents/press/bcreg/20150629a.htm

June 26, 2015 - The Federal Reserve’s Role in the Payments System By Esther George.  www.kansascityfed.org/~/media/files/publicat/speeches/2015/2015-george-kansascity-payments-06-26.pdf

June 26, 2015 - FDIC Makes Public May Enforcement Actions; - No Administrative Hearings Scheduled for July 2015 - The Federal Deposit Insurance Corporation today released a list of orders of administrative enforcement actions taken against banks and individuals in May.   www.fdic.gov/news/news/press/2015/pr15053.html

June 26, 2015 - Inflation Expectations and Monetary Policy Design: Evidence from the Laboratory - Damjan Pfajfar and Blaž Žakelj - Using laboratory experiments within a New Keynesian framework, we explore the interaction between the formation of inflation expectations and monetary policy design.   www.federalreserve.gov/econresdata/feds/2015/files/2015045pap.pdf

June 26, 2015 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update - Since the beginning of the financial market turmoil in August 2007, the Federal Reserve's balance sheet has grown in size and has changed in composition. Total assets of the Federal Reserve have increased significantly from $869 billion on August 8, 2007, to well over $2 trillion. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm _______________

June 25, 2015 - Mortgage Performance Improved During the First Quarter of 2015 - The performance of first-lien mortgages serviced by eight national banks improved during the first quarter of 2015, according to the Office of the Comptroller of the Currency’s quarterly report on mortgage performance. www.occ.gov/news-issuances/news-releases/2015/nr-occ-2015-91.html

June 25, 2015 - Financial Market Stress Declines for First Time in Eight Weeks - The St. Louis Fed Financial Stress Index measured -1.020 for the week ending June 19, down slightly from the previous week’s revised value of -1.012. Last week’s decline was the first since the week ending April 24, 2015.  www.stlouisfed.org/news-releases/2015/06/25/financial-market-stress-declines-for-first-time-in-eight-weeks
 
June 25, 2015 - Name Check Process for Domestic and International Applications - As part of the Federal Reserve’s responsibilities as the primary federal banking regulator for bank holding companies, savings and loan holding companies, and state-chartered banks that are members of the Federal Reserve System, the Federal Reserve reviews applications and notices, that may include changes to the ownership and/or the composition of the board of directors or executive management of a supervised financial institution. www.federalreserve.gov/bankinforeg/srletters/sr1508.htm

June 25, 2015 - Governor Jerome H. Powell - Building a Safer Payment System - At the Federal Reserve Bank of Kansas City Conference, "The Puzzle of Payments Security: Fitting the Pieces Together to Protect the Retail Payments System", Kansas City, Missouri.   www.federalreserve.gov/newsevents/speech/powell20150625a.htm

June 25, 2015 - Federal Reserve Board issues enforcement action and termination of enforcement action with Fayette County Bank.   www.federalreserve.gov/newsevents/press/enforcement/20150625a.htm

June 25, 2015 - NCUA - CFPB Proposing Delay of TILA-RESPA Integrated Disclosure Rule - ?Credit Unions Have until July 7 to Comment on Implementation Timeframe - Credit unions have until July 7 to comment on the Consumer Financial Protection Bureau’s proposal to delay the effective date of a significant mortgage disclosure regulation, National Credit Union Administration Board Chairman Debbie Matz said today. www.ncua.gov/News/Pages/NW20150625TILARESPA.aspx

June 25, 2015 - NCUA - Matz Details NCUA Regulatory Relief Efforts - Regulatory relief is making a stronger, safer credit union system that can better serve members, NCUA Board Chairman Debbie Matz said today. www.ncua.gov/News/Pages/NW20150625MatzNAFCU.aspx

June 24, 2015 - OCC Hosts Educational Event for Minority- and Women-Owned Businesses - The Office of the Comptroller of the Currency will host an educational event for minority- and women-owned businesses at its headquarters in Washington, D.C., on July 22 from 9:30 a.m. until 12:30 p.m. www.occ.gov/news-issuances/news-releases/2015/nr-occ-2015-90.html

June 24, 2015 - Memphis Burgundy Book: Memphis Zone’s Unemployment Rate at Lowest Since 2008 - A May survey of business contacts in the Memphis Zone of the Federal Reserve Bank of St. Louis showed the contacts as modestly less optimistic about the economic outlook in 2015, compared with their sentiment three months earlier. www.stlouisfed.org/news-releases/2015/06/24/memphis-burgundy-book

June 24, 2015 - Little Rock Burgundy Book: Arkansas’s Transportation Industry Sees Strongest Job Growth in a Decade - A May survey of business contacts in the Little Rock Zone of the Federal Reserve Bank of St. Louis revealed that a little more than half of respondents expect that economic conditions in 2015 will be better than in 2014.   www.stlouisfed.org/news-releases/2015/06/24/little-rock-burgundy-book

June 24, 2015 - Louisville Burgundy Book: Labor Market Conditions Exceptionally Healthy in Louisville Zone - A May survey of business contacts in the Louisville Zone of the Federal Reserve Bank of St. Louis revealed that 57 percent of respondents expect local economic conditions in 2015 to be better than they were in 2014, while only about 7 percent expect them to worsen. www.stlouisfed.org/news-releases/2015/06/24/louisville-burgundy-book

June 24, 2015 - St. Louis Burgundy Book: Transportation Employment in St. Louis Advances at Rapid Pace - A little more than half of the respondents to a May survey of business contacts in the St. Louis Zone of the Federal Reserve Bank of St. Louis reported that they expect local economic conditions in 2015 will be better than in 2014.   www.stlouisfed.org/news-releases/2015/06/24/st-louis-burgundy-book

June 24, 2015 - Vice Chairman Stanley Fischer - Supervisory Stress Testing of Large Systemic Financial Institutions - At the Riksbank Macroprudential Conference, Stockholm, Sweden.  www.federalreserve.gov/newsevents/speech/fischer20150624a.htm

June 23, 2015 - NCUA Releases 2014 Annual Report - The National Credit Union Administration today released its 2014 Annual Report. Found online here, the report highlights the agency’s activities, policy initiatives and accomplishments for the year. www.ncua.gov/News/Pages/NW20150623AnnualReport.aspx

June 23, 2015 - Legal Interpretations - Bank Holding Companies/Savings and Loan Holding Companies/Change in Control - Letter to Derek M. Bush, Esq., that the elections filed by KB Financial Group Inc. and its subsidiary bank, Kookmin Bank, both of Seoul, Korea, to be treated as financial holding companies are effective. www.federalreserve.gov/bankinforeg/LegalInterpretations/bhc_changeincontrol20150618a1.pdf 

June 23, 2015 - Federal Reserve Board issues enforcement action with Bank of the Orient.   www.federalreserve.gov/newsevents/press/enforcement/enf20150623a1.pdf

June 22, 2015 - The Chicago Fed National Activity Index moved up to –0.17 in May from –0.19 in April. Two of the four broad categories of indicators that make up the index increased from April, but only the employment, unemployment, and hours category made a positive contribution to the index in May. www.chicagofed.org/~/media/publications/cfnai/2015/cfnai-june2015-pdf.pdf?la=en

June 22, 2015 - Lester T. Sanders Joins St. Louis Fed's Real Estate Industry Council - Lester T. Sanders, realtor for Semonin Realtors and immediate past president of the Greater Louisville Association of Realtors in Louisville, Ky., has been named to the Real Estate Industry Council of the Federal Reserve Bank of St. Louis. www.stlouisfed.org/news-releases/2015/06/22/lester-sanders-joins-st-louis-fed-real-estate-industry-council

June 22, 2015 - Statistical Release - Survey of Terms of Business Lending - E.2.    www.federalreserve.gov/releases/e2/Current/default.htm

June 22, 2015 - Federal Reserve System begins 2015 Census of Finance Companies - The Federal Reserve System will begin its 2015 Census of Finance Companies in June, as part of a larger effort to paint a complete and continuing picture of this important sector of the U.S. economy. www.federalreserve.gov/newsevents/press/other/20150622a.htm

June 22, 2015 - Agencies issue flood insurance rule - Five federal regulatory agencies today announced the approval of a joint final rule that modifies regulations that apply to loans secured by properties located in special flood hazard areas.
Press Release: www.federalreserve.gov/newsevents/press/bcreg/20150622a.htm
Press Release: www.fdic.gov/news/news/press/2015/pr15052.html
Press Release: www.occ.gov/news-issuances/news-releases/2015/nr-ia-2015-89.html
Press Release: www.ncua.gov/News/Pages/NW20150622FloodRule.aspx

June 19, 2015 - The Effects of Liquidity Regulation on Participation in the Term Deposit Facility - Marcelo Rezende and Mary-Frances Styczynski1 -
This note studies the effects of liquidity regulation on the participation of commercial banks in Term Deposit Facility operations.  www.federalreserve.gov/econresdata/notes/feds-notes/2015/effects-of-liquidity-regulation-on-participation-in-the-term-deposit-facility-20150619.html

June 19, 2015 - Improvements in Economy Signal Strength in Loan Demand, Lower Delinquency Rates -?NCUA Economic Video Covers System Performance, Pending Interest Rate Hikes - Improvements in the national economy at the start of the second quarter of 2015 are good news for federally insured credit unions as lenders, according to an economic analysis released today by the National Credit Union Administration.  www.ncua.gov/News/Pages/NW20150619EconomicVideo.aspx

June 19, 2015 - 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/2015/nr-occ-2015-88.html

June 19, 2015 - Labor market continues to improve: SF Fed President Williams - The labor market has shown “continued, solid improvement,” said John C. Williams, president and CEO of the Federal Reserve Bank of San Francisco.  www.frbsf.org/our-district/press/news-releases/2015/john-c-williams-speech-nber-east-asia-seminar/

June 19, 2015 - Slow capital, fast prices: Shocks to funding liquidity and stock price reversals - Stefan Gissler - A V-shaped price pattern is often observed in financial markets - in response to a negative shock, prices fall "too far" before reversing course.   www.federalreserve.gov/econresdata/feds/2015/files/2015043pap.pdf

June 19, 2015 - Macroeconomic Effects of Banking Sector Losses across Structural Models - Luca Guerrieri, Matteo Iacoviello, Francisco B. Covas, John C. Driscoll, Michael T. Kiley, Mohammad Jahan-Parvar, Albert Queralto Olive, and Jae W. Sim - The macro spillover effects of capital shortfalls in the financial intermediation sector are compared across five dynamic equilibrium models for policy analysis.  www.federalreserve.gov/econresdata/feds/2015/files/2015044pap.pdf

June 19, 2015 - Reserve Maintenance Manual - The Reserve Maintenance Manual provides information regarding reserve calculations and account maintenance for depository institutions that file the Federal Reserve 2900 form with the Federal Reserve, either weekly or quarterly. www.federalreserve.gov/monetarypolicy/files/reserve-maintenance-manual.pdf 

June 19, 2015 - Recent euro-area inflows into U.S. bonds: Reconciling and understanding new data sources -Carol Bertaut and Ruth Judson - Understanding how global investors respond to differences in monetary policy stances, economic prospects, and other developments that affect financial markets is clearly a topic of interest. www.federalreserve.gov/econresdata/notes/ifdp-notes/2015/recent-euro-area-inflows-into-us-bonds-reconciling-and-understanding-new-data-sources-20150619.html 

June 19, 2015 - Federal Reserve Board announces appointment of Brian F. Madigan as secretary of the Federal Open Market Committee and deputy director of the Board's Division of Monetary Affairs.  www.federalreserve.gov/newsevents/press/other/20150619a.htm
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June 18, 2015 - Comptroller Discusses Community Redevelopment - Comptroller of the Currency Thomas J. Curry today discussed resources that aid redevelopment and revitalization of communities following natural disasters and other events.  www.occ.gov/news-issuances/speeches/2015/pub-speech-2015-87.pdf

June 18, 2015 - OCC Hosts Pennsylvania Workshops on Risk Governance and Credit Risk - The Office of the Comptroller of the Currency will host two workshops in Harrisburg, Penn., at the Crowne Plaza Harrisburg - Hershey, July 28-29, for directors of national community banks and federal savings associations. www.occ.gov/news-issuances/news-releases/2015/nr-occ-2015-86.html

June 18, 2015 - Financial Market Stress Rises for Seventh Consecutive Week - The St. Louis Fed Financial Stress Index measured -1.009 for the week ending June 12, 2015, up modestly from the previous week’s revised value of -1.034 and its seventh consecutive weekly increase.  www.stlouisfed.org/news-releases/2015/06/18/financial-market-stress-rises-for-seventh-consecutive-week

June 18, 2015 - Federal Reserve Board announces approval of final rule amending Regulation D - The Federal Reserve Board on Thursday announced the approval of a final rule amending Regulation D to make changes to the calculation of interest payments on excess balances maintained by depository institutions at Federal Reserve Banks. www.federalreserve.gov/newsevents/press/bcreg/20150618a.htm

June 18, 2015 - Federal Reserve Board issues termination of enforcement action with Prime Pacific Financial Services, Inc.   www.federalreserve.gov/newsevents/press/enforcement/20150618a.htm

June 18, 2015 - Proposed Member Business Loan Rule Gives Credit Unions Flexibility, Opportunity - Board Action Bulletin - The National Credit Union Administration Board convened its sixth open meeting of 2015 at the agency’s headquarters here today and unanimously approved five items: www.ncua.gov/about/BoardActions/Pages/BAB20150618.aspx

June 17, 2015 - OCC to Escheat Funds from the Foreclosure Review, Terminates Orders Against Three Mortgage Servicers, Imposes Restrictions on Six Others - The Office of the Comptroller of the Currency today announced it will escheat at the end of 2015 any remaining uncashed payments made pursuant to the Independent Foreclosure Review Payment Agreement so eligible borrowers and their heirs may claim the funds through their states’ escheatment processes. www.occ.gov/news-issuances/news-releases/2015/nr-occ-2015-85.html

June 17, 2015 - Statistical Release - Household Debt Service and Financial Obligations Ratios - Household debt service payments and financial obligations as a percentage of disposable personal income; seasonally adjusted.  www.federalreserve.gov/releases/housedebt/default.htm

June 17, 2015 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at 1:00 PM on June 16, 2015, under expedited procedures. Matter(s) considered: Discussion of Medium-Term Monetary Policy Issues. www.federalreserve.gov/aboutthefed/boardmeetings/20150616exp.htm

June 17, 2015 - FOMC press conference with FOMC Chair Janet L. Yellen Leaving the Board - June 17, 2015 press conference with Chair of the FOMC, Janet L. Yellen.  www.ustream.tv/federalreserve

June 17, 2015 - Federal Reserve issues FOMC statement - Information received since the Federal Open Market Committee met in April suggests that economic activity has been expanding moderately after having changed little during the first quarter.  www.federalreserve.gov/newsevents/press/monetary/20150617a.htm

June 17, 2015 - Federal Reserve Board and Federal Open Market Committee release economic projections from the June 16-17 FOMC meeting - The attached table and charts released on Wednesday summarize the economic projections and the target federal funds rate projections made by Federal Open Market Committee participants for the June 16-17 meeting. www.federalreserve.gov/monetarypolicy/files/fomcprojtabl20150617.pdf

June 16, 2015 - NCUA - June Issue of The NCUA Report Now Available - The National Credit Union Administration announced today the June 2015 issue of The NCUA Report is now available online. www.ncua.gov/News/Pages/NW20150616JuneReport.aspx

June 16, 2015 - Small Bank Pricing - Notice of Proposed Rulemaking - On June 16, 2015, the FDIC Board of Directors approved the attached Notice of Proposed Rulemaking and request for comment on proposed refinements to the deposit insurance assessment system for small insured depository institutions.   www.fdic.gov/news/news/financial/2015/fil15025.html

June 16, 2015 - FDIC Seeks Comment on Proposal to Revise How Small Banks are Assessed for Deposit Insurance - The Board of Directors of the Federal Deposit Insurance Corporation today sought comment on a proposed rule that would revise the way small banks are assessed for deposit insurance. www.fdic.gov/news/news/press/2015/pr15050.html

June 16, 2015 - Federal Reserve Board announces approval of application by Merchants & Farmers Bancshares, Inc. - The Federal Reserve Board on Monday, June 15, approved the application under section 3 of the Bank Holding Company Act by Merchants & Farmers Bancshares, Inc., to acquire Vernon Bancshares, Inc., and thereby indirectly acquire The Vernon Bank, all of Leesville, Louisiana. www.federalreserve.gov/newsevents/press/orders/orders20150616a1.pdf

June 16, 2015 - Agencies Finalize Revisions to the Capital Rules Applicable to Advanced Approaches Banking Organizations - The Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency today finalized revisions to the regulatory capital rules adopted in July 2013.
Press Release: www.federalreserve.gov/newsevents/press/bcreg/20150616a.htm
Press Release: www.fdic.gov/news/news/press/2015/pr15051.html 
Press Release: www.occ.gov/news-issuances/news-releases/2015/nr-ia-2015-84.html

June 16, 2015 - Federal Reserve Board issues termination of enforcement action with Commerce Bank and Trust Holding Company Employee Stock Ownership Plan, and Commerce Bank and Trust Holding Company.  www.federalreserve.gov/newsevents/press/enforcement/20150616a.htm

June 15, 2015 - NCUA, AARP Hosting Webinar on Preventing Elder Financial Abuse - Credit unions and consumers looking for help detecting, preventing and reporting elder financial abuse can get valuable information during an upcoming webinar, “Avoiding Frauds and Scams: A Primer for Older Americans,” scheduled for Wednesday, June 24, beginning at 2 p.m. Eastern. www.ncua.gov/News/Pages/NW20150615Webinar.aspx

June 15, 2015 - FDIC Consumer Newsletter Features Tips for Teaching Young People About Money - Other topics include computer security for bank customers, credit scores, and a new savings account for children with disabilities- Parents and caregivers don't have to be financial experts to teach young people to be responsible with money.  www.fdic.gov/news/news/press/2015/pr15048.html

June 15, 2015 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at 11:30 AM on June 15, 2015, under expedited procedures. 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/20150615exp.htm

June 15, 2015 - Statistical Release - Industrial Production and Capacity Utilization - G.17 - Industrial production decreased 0.2 percent in May after falling 0.5 percent in April.  www.federalreserve.gov/releases/g17/Current/default.htm

June 15, 2015 - Federal Reserve Board announces approval of application by Sterling Bancorp - The Federal Reserve Board on Monday announced its approval of the application under section 3 of the Bank Holding Company Act by Sterling Bancorp, Montebello, New York, to acquire Hudson Valley Holding Corporation and thereby indirectly acquire its wholly owned subsidiary, Hudson Valley Bank, National Association, both of Yonkers, New York. www.federalreserve.gov/newsevents/press/orders/20150615a.htm

June 15, 2015 - Federal Reserve releases statement on court's decision in Starr International Company, Inc. v. the United States - The Federal Reserve strongly believes that its actions in the AIG rescue during the height of the financial crisis in 2008 were legal, proper and effective. www.federalreserve.gov/newsevents/press/other/20150615a.htm

June 12, 2015 - OCC Improves Online Access to Corporate Application Information and Comments -The Office of the Comptroller of the Currency today announced improved access to information and public comments regarding business combination corporate applications submitted by national banks and federal savings associations. www.occ.gov/news-issuances/news-releases/2015/nr-occ-2015-83.html

June 12, 2015 - Summary of Deposits Survey Filing for June 30, 2015 - The Summary of Deposits is the annual survey of branch office deposits as of June 30 for all FDIC-insured institutions, including insured U.S. branches of foreign banks.  www.fdic.gov/news/news/financial/2015/fil15024.html

June 12, 2015 - Frequently Asked Questions - Section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act added a new section 13 to the Bank Holding Company Act of 1956, commonly referred to as the Volcker rule, that generally prohibits insured depository institutions and any company affiliated with an insured depository institution from engaging in proprietary trading and from acquiring or retaining ownership interests in, sponsoring, or having certain relationships with a hedge fund or private equity fund. www.federalreserve.gov/bankinforeg/volcker-rule/faq.htm

June 12, 2015 - Advance 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 PM on June 16, 2015. Matter to be considered: Discussion of Medium-Term Monetary Policy Issues. www.federalreserve.gov/aboutthefed/boardmeetings/20150616advexp.htm

June 12, 2015 - Statistical Release - Mortgage Debt Outstanding, June 2015.  www.federalreserve.gov/econresdata/releases/mortoutstand/current.htm

June 12, 2015 - NCUA: State-Level Data Show Widespread Loan Growth in Year Ending in First Quarter - Median Asset and Deposits Growth Up, Median Delinquency Rates Down - Median loan growth in federally insured credit unions was 4.0 percent during the year ending March 31, 2015, according to state-level data compiled by the National Credit Union Administration. www.ncua.gov/News/Pages/NW20150612StateData.aspx
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June 11, 2015 - Financial Market Stress Rises for Sixth Consecutive Week - The St. Louis Fed Financial Stress Index (STLFSI) measured -1.031 for the week ending June 5, 2015. The index rose for the sixth consecutive week and was at its highest level since the week ending Feb. 20, 2015.  www.stlouisfed.org/news-releases/2015/06/11/financial-market-stress-rises-for-sixth-consecutive-week

June 11, 2015 - Advance 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 12:00 PM on June 15, 2015. Matter to be 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/20150615advexp.htm

June 11, 2015 - Statistical Release - Financial Accounts of the United States - Z.1 - Financial Accounts of the United States - Flow of Funds, Balance Sheets, and Integrated Macroeconomic Accounts First Quarter 2015.  www.federalreserve.gov/releases/z1/current/z1.pdf

June 11, 2015 - Federal Reserve Board issues termination of enforcement actions with MNB Holdings Corporation, and Oregon Pacific Bancorp and Oregon Pacific Bank.  www.federalreserve.gov/newsevents/press/enforcement/20150611a.htm

June 11, 2015 - NCUA - Agenda for the 6/18/15 Board Meeting is Available.  www.ncua.gov/about/Pages/Agendas/AG20150618.aspx

June 11, 2015 - May NCUA Board Video Now Available - The video recording of the May 2015 open meeting of the National Credit Union Administration Board is now available on the agency’s website. www.ncua.gov/News/Pages/NW20150611BoardVideo.aspx

June 10, 2015 - Expiration of the Protecting Tenants at Foreclosure Act - The Protecting Tenants at Foreclosure Act of 2009, 1 which originally became effective on May 20, 2009, expired on December 31, 2014. Accordingly, examiners in the Federal Reserve System should no longer evaluate institutions’ compliance with the PTFA. www.federalreserve.gov/bankinforeg/caletters/ca1504.pdf

June 9, 2015 - NCUA - Registration Opens for July 28 Matz Town Hall Webinar - Online registration is now open for National Credit Union Administration Board Chairman Debbie Matz’s town hall webinar scheduled for Tuesday, July 28, beginning at 3 p.m. Eastern. www.ncua.gov/News/Pages/NW20150609TownhallRegistration.aspx

June 9, 2015 - Comptroller Discusses the Value of Prudential Supervision - Comptroller of the Currency Thomas J. Curry today discussed the value of prudential supervision, its role in ensuring the safety and soundness of the federal banking system, and efforts the OCC has taken to improve the supervision of national banks and federal savings associations. www.occ.gov/news-issuances/speeches/2015/pub-speech-2015-82.pdf

June 9, 2015 - OCC Releases CRA Evaluations for 14 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 May 1, 2015 through May 31, 2015. www.occ.gov/news-issuances/news-releases/2015/nr-occ-2015-81.html

June 9, 2015 - Federal Reserve Board issues termination of enforcement action with First Utah Bank.   www.federalreserve.gov/newsevents/press/enforcement/20150609a.htm

June 9, 2015 - Agencies Issue Final Standards for Assessing Diversity Policies and Practices of Regulated Entities - Federal agencies today issued a final interagency policy statement establishing joint standards for assessing the diversity policies and practices of the entities they regulate.
Press Release: www.federalreserve.gov/newsevents/press/bcreg/20150609a.htm
Press Release: www.fdic.gov/news/news/press/2015/pr15047.html
Press Release: www.occ.gov/news-issuances/news-releases/2015/nr-ia-2015-80.html
Press Release: www.ncua.gov/News/Pages/NW20150609FinalStandards.aspx

June 8, 2015 - Did the Fed's Announcement of an Inflation Objective Influence Expectations - Alan Detmeister, Daeus Jorento, Emily Massaro, and Ekaterina Peneva - Economic theory suggests that inflation expectations are a key determinant of actual inflation.  www.federalreserve.gov/econresdata/notes/feds-notes/2015/did-the-feds-announcement-of-an-inflation-objective-influence-expectations-20150608.html

June 8, 2015 - The Labor Share of Income and Equilibrium Unemployment - Andrew Figura and David Ratner - After rising to 10 percent in the wake of the Great Recession, the unemployment rate is now approaching a level that many observers--including the Congressional Budget Office, as shown in Figure 1--associate with the natural rate of unemployment. www.federalreserve.gov/econresdata/notes/feds-notes/2015/labor-share-of-income-and-equilibrium-unemployment-20150608.html

June 5, 2015 - Statistical Release - Consumer Credit - G.19 - In April, consumer credit increased at a seasonally adjusted annual rate of 7-1/4 percent. Revolving credit increased at an annual rate of 11-1/2 percent, while nonrevolving credit increased at an annual rate of 5-3/4 percent. www.federalreserve.gov/releases/g19/current/

June 5, 2015 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update - Since the beginning of the financial market turmoil in August 2007, the Federal Reserve's balance sheet has grown in size and has changed in composition. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

June 5, 2015 - The Increase in Wealth Concentration, 1989-2013 - Jesse Bricker, Alice Henriques, Jacob Krimmel, and John Sabelhaus - Wealth is highly concentrated in the United States, and top shares have been rising in recent decades, raising both normative and macroeconomic policy concerns.   www.federalreserve.gov/econresdata/notes/feds-notes/2015/increase-in-wealth-concentration-1989-2013-20150605.html

June 5, 2015 - Reports to the Congress - Annual Performance Plan 2015. www.federalreserve.gov/publications/gpra/files/2015-gpra-performance-plan.pdf _____________________

June 4, 2015 - St. Louis Fed Financial Stress Index Rises for Fifth Week in a Row - The St. Louis Fed Financial Stress Index measured -1.091 for the week ending May 29, 2015, up slightly from the previous week’s revised value of -1.094. www.stlouisfed.org/news-releases/2015/06/04/st-louis-fed-financial-stress-index-rises-for-fifth-week-in-a-row

June 4, 2015 - FDIC Issues List of Banks Examined for CRA Compliance - The Federal Deposit Insurance Corporation today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act. www.fdic.gov/news/news/press/2015/pr15046.html

June 4, 2015 - Payment Systems - Automated Clearinghouse Services.  www.federalreserve.gov/paymentsystems/fedach_data.htm

June 4, 2015 - Payment Systems - Check Services, Quarterly Data Update.  www.federalreserve.gov/paymentsystems/check_data.htm

June 4, 2015 - Federal Reserve Board issues enforcement actions with BCBank and First Iowa State Bank.   www.federalreserve.gov/newsevents/press/enforcement/enf20150604a1.pdf

June 4, 2015 - NCUA - Matz to Host Town Hall Webinar July 28 - Save the Date to Learn and Ask Questions about NCUA - National Credit Union Administration Board Chairman Debbie Matz announced today she will host a town hall webinar with the credit union system on Tuesday, July 28, beginning at 3 p.m. Eastern. www.ncua.gov/News/Pages/NW20150604Webinar.aspx

June 3, 2015 - Fed's Evans Addresses Chicago Banking Symposium - Chicago Fed President Charles Evans talks about risk management to a banking audience, June 3, in Chicago. - The Call for Proactive Risk Culture.  www.chicagofed.org/~/media/publications/speeches/2015/060315-chicago-banking-symposium-charles-evans-print-pdf.pdf

June 3, 2015 - NCUA Hosting Remittances Webinar - Credit unions that would like to know more about international funds transfers can get valuable information on an upcoming National Credit Union Administration webinar, “Remittances and Other Money Transfer Services,” scheduled for Wednesday, June 17, beginning at 2 p.m. Eastern. www.ncua.gov/News/Pages/NW20150603Webinar.aspx

June 3, 2015 - OCC Provides Mid-Cycle Status Report on Its Fiscal Year 2015 Operating Plan - The Office of the Comptroller of the Currency today released a mid-cycle report on key actions completed to date to execute its annual operating plan and priority objectives for the remainder of the year. www.occ.gov/news-issuances/news-releases/2015/nr-occ-2015-79.html

June 3, 2015 - Comptroller Discusses Payment Technology, Innovation, and Cybersecurity - Comptroller of the Currency Thomas J. Curry today discussed emerging payment systems technology, innovation, access, and cybersecurity in banking during a speech at the 2015 BITS Emerging Payment Forum. www.occ.gov/news-issuances/speeches/2015/pub-speech-2015-78.pdf

June 3, 2015 - Housing Market Conditions Improve Across Eighth District During 1Q 2015 - Housing market conditions continued to improve during the first quarter of 2015 across the seven states that comprise the St. Louis Fed's Eighth District, according to the St. Louis Fed’s latest Housing Market Conditions report. www.stlouisfed.org/news-releases/2015/06/03/first-quarter-2015-housing-market-conditions

June 3, 2015 - St. Louis Fed Discusses the Role of Education in Wealth Accumulation - The Federal Reserve Bank of St. Louis will host a breakfast on Tuesday, June 16, 2015, in Springfield, Mo., to discuss the growing divide between financial “thrivers” and “strugglers” in the United States, and the role education plays in American families’ ability to build wealth. www.stlouisfed.org/news-releases/2015/06/03/st-louis-fed-discusses-the-role-of-education-in-wealth-accumulation

June 3, 2015 - Achievement Gap Estimates and Deviations from Cardinal Comparability - Eric R. Nielsen - This paper assesses the sensitivity of standard empirical methods for measuring group differences in achievement to violations in the cardinal comparability of achievement test scores. www.federalreserve.gov/econresdata/feds/2015/files/2015040pap.pdf 

June 3, 2015 - Small Businesses and Small Business Finance during the Financial Crisis and the Great Recession: New Evidence From the Survey of Consumer Finances - Arthur B. Kennickell, Myron L. Kwast, and Jonathan Pogach - We use the Federal Reserve's 2007, 2009 re-interview of 2007 respondents, and 2010 Surveys of Consumer Finances to examine the experiences of small businesses owned and actively managed by households during these turbulent years. www.federalreserve.gov/econresdata/feds/2015/files/2015039pap.pdf 

June 3, 2015 - Beige Book - Informal review by the Federal Reserve Banks of current economic conditions in their Districts.   www.federalreserve.gov/monetarypolicy/beigebook/beigebook201506.htm

June 3, 2015 - The Federal Reserve Board on Wednesday announced its approval of the application under section 3 of the Bank Holding Company Act by BB&T Corporation, Winston-Salem, North Carolina, to acquire The Bank of Kentucky Financial Corporation and thereby indirectly acquire its wholly owned subsidiary, The Bank of Kentucky, Inc., both of Crestview Hills, Kentucky. www.federalreserve.gov/newsevents/press/orders/orders20150603a1.pdf

June 2, 2015 - NCUA - Credit Unions Boost Lending, Cut Long-Term Investments in First Quarter - NCUA Reports Loan Delinquencies Fall to Lowest Level in Eight Years - Federally insured credit unions relied more on lending and less on investments to generate income during the first quarter of 2015, the National Credit Union Administration reported today. www.ncua.gov/News/Pages/NW20150602CallReport.aspx

June 2, 2015 - Testimony Before the House Committee on Agriculture (Subcommittee on General Farm Commodities and Risk Management) - By Nathan Kauffman.  www.kansascityfed.org/~/media/files/publicat/speeches/2015/2015-kauffman-congresstestimony-06-02.pdf

June 2, 2015 - St. Louis Fed Partners with Language Immersion Schools to Teach Financial Literacy - The Federal Reserve Bank of St. Louis and the St. Louis Language Immersion Schools are partnering to focus on economics and financial education during the schools’ two-week summer session, which runs through June 12. www.stlouisfed.org/news-releases/2015/06/02/st-louis-fed-partners-with-language-immersion-schools-to-teach-financial-literacy

June 2, 2015 - Domestic Electronics Manufacturing: Medical, Military, and Aerospace Equipment and What We Don't Know about High-Tech Productivity -
David Byrne - Beginning in the 1990s, Federal Reserve Board staff paid increasing attention to electronics manufacturing in order to advance its understanding of technological innovation, of the role of the domestic industrial sector in global value chains, and of the sources of labor productivity growth. www.federalreserve.gov/econresdata/notes/feds-notes/2015/domestic-electronics-manufacturing-medical-military-and-aerospace-equipment-and-what-we-dont-know-about-high-tech-productivity-20150602.html

June 2, 2015 - Reports to the Congress - 101st Annual Report.  www.federalreserve.gov/publications/annual-report/files/2014-annual-report.pdf

June 2, 2015 - Governor Lael Brainard - The U.S. Economic Outlook and Implications for Monetary Policy - At the Center for Strategic and International Studies, Washington, D.C. www.federalreserve.gov/newsevents/speech/brainard20150602a.htm

June 2, 2015 - Agencies release statement on Dodd-Frank Act company-run stress tests at medium-sized financial companies - Federal banking agencies today reiterated the disclosure requirements for the annual stress tests conducted by financial institutions with total consolidated assets between $10 billion and $50 billion.
Press Release: www.federalreserve.gov/newsevents/press/bcreg/20150602a.htm
Press Release: www.fdic.gov/news/news/press/2015/pr15045.html
Press Release: www.occ.gov/news-issuances/news-releases/2015/nr-ia-2015-77.html

June 1, 2015 - Chicago Fed Symposium Economic Outlook for 2015–16 - Solid and improving economic growth expected, according to Chicago Fed Automotive Outlook Symposium participants.  https://www.chicagofed.org/events/2015/automotive-outlook-symposium

June 1, 2015 - OCC Issues Third Quarter 2015 CRA Evaluation Schedule - The Office of the Comptroller of the Currency today released its schedule of Community Reinvestment Act evaluations to be conducted in the third quarter of 2015. www.occ.gov/news-issuances/news-releases/2015/nr-occ-2015-76.html

June 1, 2015 - Regulatory Relief - Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Texas Affected by Severe Storms, Tornadoes, Straight-Line Winds, and Flooding. - The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and to facilitate recovery in areas of Texas affected by severe storms, tornadoes, straight-line winds, and flooding. www.fdic.gov/news/news/financial/2015/fil15023.html

June 1, 2015 - Balance-Sheet Households and Fiscal Stimulus: Lessons from the Payroll Tax Cut and Its Expiration - Claudia R. Sahm, Matthew D. Shapiro, and Joel Slemrod - Balance-sheet repair drove the response of a significant fraction of households to fiscal stimulus following the Great Recession.  www.federalreserve.gov/econresdata/feds/2015/files/2015037pap.pdf

June 1, 2015 - Who Drives Luxury Cars (Only for a While)? - Christopher Kurz and Geng Li 1 - Household consumption of luxury goods has attracted increasing attention in various areas of finance and economics research.  www.federalreserve.gov/econresdata/notes/feds-notes/2015/who-drives-luxury-cars-20150601.html

June 1, 2015 - Federal Reserve Board issues enforcement action with State Street Corporation and State Street Bank and Trust Company.   www.federalreserve.gov/newsevents/press/enforcement/enf20150601a1.pdf

June 1, 2015 - Foreign Exchange Rates -- G.5 Monthly - The table below shows the average rates of exchange in MAY 2015 together with comparable figures for other months. www.federalreserve.gov/releases/g5/current/

June 1, 2015 - Vice Chairman Stanley Fischer - What have we learned from the crises of the last 20 years? - At the International Monetary Conference, Toronto, Canada.  www.federalreserve.gov/newsevents/speech/fischer20150601a.htm