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June 30, 2021 - Second Round of PPP Lending Drives Increases in Outstanding and New Loan Balances - Balances on outstanding and new small business commercial and industrial loans increased in the first quarter of 2021, due primarily to a second round of lending through the Small Business Administration’s Paycheck Protection Program that began in January. www.kansascityfed.org/surveys/small-business-lending-survey/second-round-of-ppp-lending-drives-increases-in-outstanding-and-new-loan-balances/ June 28, 2021 - St. Louis Fed Releases the Bank On National Data Hub Findings from 2019 - An updated report from the Federal Reserve Bank of St. Louis examines the affordable banking movement known as Bank On. www.stlouisfed.org/news-releases/2021/06/28/st-louis-fed-releases-the-bank-on-national-data-hub-findings-from-2019 ________________________ June 30, 2021 - Midwest Economy Index Points to Little Change in Midwest Growth Through May - The Midwest Economy Index which approximates quarterly growth at a monthly frequency, moved up to +0.69 in May from +0.63 in April. www.chicagofed.org/~/media/publications/mei/2021/mei-may2021-pdf.pdf June 30, 2021 - What Happened to Subprime Auto Loans During the Covid-19 Pandemic? By Tanya Bakshi, Jonathan Rose - At the onset of the Covid-19 pandemic, subprime auto loans appeared to be particularly vulnerable to credit quality deterioration potentially arising from pandemic-related economic hardships. www.chicagofed.org/publications/blogs/chicago-fed-insights/2021/what-happened-subprime-auto-loans June 30, 2021 - Interagency Statement on the Issuance of the Anti-Money aundering/Countering the Financing of Terrorism National Priorities - The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Office of the Comptroller of the Currency. Press Release: www.federalreserve.gov/supervisionreg/srletters/SR2110.htm Press Release: www.fdic.gov/news/financial-institution-letters/2021/fil21046.html Press Release: www.occ.treas.gov/news-issuances/bulletins/2021/bulletin-2021-29.html June 30, 2021 - FFIEC Architecture, Infrastructure, and Operations Examination Handbook - The Federal Financial Institutions Examination Council has published the "Architecture, Infrastructure, and Operations" booklet. Press Release: www.federalreserve.gov/supervisionreg/srletters/SR2111.htm Press Release: www.fdic.gov/news/financial-institution-letters/2021/fil21047.html Press Release: www.ffiec.gov/press/pr063021.htm Press Release: www.occ.treas.gov/news-issuances/bulletins/2021/bulletin-2021-30.html Press Release: www.ncua.gov/newsroom/press-release/2021/financial-regulators-update-examiner-guidance-financial-institutions-information-technology June 30, 2021 - Regulatory Reform - Discount Window Lending, 2019:Q2 - Federal Reserve lending to depository institutions plays an important role in supporting the liquidity and stability of the banking system and the effective implementation of monetary policy. www.federalreserve.gov/regreform/discount-window.htm June 29, 2021 - NCUA Ranks in Top Ten of Midsize Agencies in Federal Best Places to Work - The National Credit Union Administration ranked 9 of 25 midsize agencies in the Partnership for Public Service�s 2020 Best Places to Work in the Federal Government rankings(opens new window) released today. www.ncua.gov/newsroom/press-release/2021/ncua-ranks-top-ten-midsize-agencies-federal-best-places-work June 29, 2021 - Nonlinear Unemployment Effects of the Inflation Tax - Mohammed Ait Lahcen, Garth Baughman, Stanislav Rabinovich, Hugo van Buggenum - We argue that long-run inflation has nonlinear and state-dependent effects on unemployment, output, and welfare. www.federalreserve.gov/econres/feds/nonlinear-unemployment-effects-of-the-inflation-tax.htm June 29, 2021 - Publications - Report on the Paycheck Protection Program Liquidity Facility. www.federalreserve.gov/publications/reports-to-congress-in-response-to-covid-19.htm June 28, 2021 - NCUA to Distribute $865.5 Million Under Corporate System Resolution Program - The National Credit Union Administration, in its role as liquidating agent, today announced an $865.5 million distribution to the 1,800 membership capital account holders of the former Members United, Southwest Corporate, and U.S. Central corporate credit unions. www.ncua.gov/newsroom/press-release/2021/ncua-distribute-8655-million-under-corporate-system-resolution-program June 28, 2021 - Mortgage Performance Declines in First Quarter 2021 - The Office of the Comptroller of the Currency reported that the performance of first-lien mortgages in the federal banking system declined during the first quarter of 2021. www.occ.gov/news-issuances/news-releases/2021/nr-occ-2021-71.html June 28, 2021 - OCC Reports First Quarter 2021 Bank Trading Revenue - The Office of the Comptroller of the Currency reported trading revenue of U.S. commercial banks and savings associations of $10.5 billion in the first quarter of 2021. www.occ.gov/news-issuances/news-releases/2021/nr-occ-2021-70.html June 28, 2021 - St. Louis Fed Releases the Bank On National Data Hub Findings from 2019 - An updated report from the Federal Reserve Bank of St. Louis examines the affordable banking movement known as Bank On. www.stlouisfed.org/news-releases/2021/06/28/st-louis-fed-releases-the-bank-on-national-data-hub-findings-from-2019 June 28, 2021 - The Economic Effects of Firm-Level Uncertainty: Evidence Using Subjective Expectations - Giuseppe Fiori and Filippo Scoccianti - This paper uses over two decades of Italian survey data on business managers' expectations to measure subjective firm-level uncertainty and quantify its economic effects. www.federalreserve.gov/econres/ifdp/the-economic-effects-of-firm-level-uncertainty-evidence-using-subjective-expectations.htm June 28, 2021 - Speech by Vice Chair for Supervision Quarles on central bank digital currency - Vice Chair for Supervision Randal K. Quarles At the 113th Annual Utah Bankers Association Convention, Sun Valley, Idaho www.federalreserve.gov/newsevents/speech/quarles20210628a.htm June 25, 2021 - Tenth District Services Activity Grew at a Slower Pace: Federal Reserve Bank of Kansas City Releases June Services Survey - Tenth District services activity grew at a slower pace in June, while future activity was expected to increase further over the next six months. www.kansascityfed.org/surveys/services-survey/tenth-district-services-activity-grew-at-a-slower-pace/ June 25, 2021 - FDIC Makes Public May Enforcement Actions - The FDIC issued 10 orders and one Notice in May 2021. The administrative enforcement actions in those orders consisted of two Orders to Pay Civil Money Penalties, four Section 19 Applications, three Orders Terminating Consent Orders, one Order of Prohibition from Further Participation, and Notice of Intention to Prohibit from Further Participation, one Notice of Assessment of Civil Money Penalties, Findings of Fact, Conclusions of Law, Order to Pay, and Notice of Hearing. www.fdic.gov/news/press-releases/2021/pr21055.html June 25, 2021 -The Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation today announced the availability of the 2021 list of distressed or underserved nonmetropolitan middle-income geographies. www.ffiec.gov/press/pr062521.htm June 25, 2021 - Joint Release/Joint Readout of Principals Meeting of UK and U.S. Authorities Regarding Central Counterparty Resolution - Senior officials from the Bank of England, Federal Deposit Insurance Corporation, Commodity Futures Trading Commission, Securities and Exchange Commission, and Federal Reserve Board convened a virtual meeting today to discuss certain issues relating to the concept of resolution of a central counterparty. www.fdic.gov/news/press-releases/2021/pr21056.html June 25, 2021 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm June 25, 2021 - Federal Reserve Board announces it will extend for a final time its Paycheck Protection Program Liquidity Facility, or PPPLF, by an additional month to July 30, 2021 - The extension is being made as an operational accommodation to allow additional processing time for banks, community development financial institutions, and other financial institutions to pledge to the facility any Paycheck Protection Program, or PPP, loans approved by the Small Business Administration through the June 30 expiration of the PPP program. www.federalreserve.gov/newsevents/pressreleases/monetary20210625a.htm June 25, 2021 - Agencies release list of distressed or underserved nonmetropolitan middle-income geographies - Agencies release list of distressed or underserved nonmetropolitan middle-income geographies Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20210625a.htm Press Release: www.fdic.gov/news/press-releases/2021/pr21057.html June 25, 2021 - NCUA Releases Q1 2021 State-Level Credit Union Data Report - Federally insured credit unions continued to experience double digit asset and share-and-deposit growth over the year ending in the first quarter of 2021, according to the latest Quarterly U.S. Map Review released today by the National Credit Union Administration. www.ncua.gov/newsroom/press-release/2021/ncua-releases-q1-2021-state-level-credit-union-data-report June 24, 2021 - Community Banks' Ongoing Role in the U.S. Economy - Despite declining numbers and growing challenges, community banks continue to play a crucial role in the banking industry. www.kansascityfed.org/research/economic-review/community-banks-ongoing-role-in-the-us-economy/ June 24, 2021 - NCUA - Capitalization of Interest Rule to Assist Financially Distressed Borrowers - Through a live audio webcast, the National Credit Union Administration Board held its sixth open meeting of 2021 and unanimously approved three items: www.ncua.gov/newsroom/press-release/2021/capitalization-interest-rule-assist-financially-distressed-borrowers June 24, 2021 - Acting Comptroller Statement on the Vote to Overturn OCC True Lender Rule - Acting Comptroller of the Currency Michael J. Hsu issued the following statement on the U.S. House of Representative�s vote to overturn the agency�s true lender rule. www.occ.gov/news-issuances/news-releases/2021/nr-occ-2021-69.html June 24, 2021 - Tenth District Manufacturing Activity Remained Strong in June - According to Chad Wilkerson, vice president and economist at the Federal Reserve Bank of Kansas City, the survey revealed that Tenth District manufacturing activity remained strong, and expectations for future activity increased to a survey record high. www.kansascityfed.org/newsroom/2021-news-releases/tenth-district-manufacturing-activity-remained-strong-in-june/ June 24, 2021 - Federal Reserve Bank of St. Louis Announces Director of Its Institute for Economic Equity - The Federal Reserve Bank of St. Louis has announced that William M. Rodgers III will join the Bank as vice president and inaugural director of the Bank�s Institute for Economic Equity, effective July 12. www.stlouisfed.org/news-releases/2021/06/24/st-louis-fed-announces-new-iee-director June 24, 2021 - St. Louis Fed's Bullard Discusses "U.S. Monetary Policy: A New Risk" - Federal Reserve Bank of St. Louis President James Bullard presented �U.S. Monetary Policy: A New Risk� at a virtual event of the Clayton Chamber of Commerce on Thursday. www.stlouisfed.org/news-releases/2021/06/24/bullard-us-monetary-policy-a-new-risk June 24, 2021 - FDIC Presents �Fintech: A Bridge to Economic Inclusion� - The Federal Deposit Insurance Corporation will host a virtual conference on Tuesday, June 29, 2021, to explore how financial technology and innovation can create a more diverse, equitable and inclusive banking system. www.fdic.gov/news/press-releases/2021/pr21054.html June 24, 2021 - Hedge Fund Treasury Trading and Funding Fragility: Evidence from the COVID-19 Crisis - Mathias S. Kruttli, Phillip J. Monin, Lubomir Petrasek, Sumudu W. Watugala - Hedge fund gross U.S. Treasury exposures doubled from 2018 to February 2020 to $2.4 trillion, primarily driven by relative value arbitrage trading and supported by corresponding increases in repo borrowing. www.federalreserve.gov/econres/feds/hedge-fund-treasury-trading-and-funding-fragility-evidence-from-the-covid-19-crisis.htm June 24, 2021 - Lending Standards and Borrowing Premia in Unsecured Credit Markets - Kyle Dempsey and Felicia Ionescu - Using administrative data from Y-14M and Equifax, we find evidence for large spreads in excess of those implied by default risk in the U.S. unsecured credit market. www.federalreserve.gov/econres/feds/lending-standards-and-borrowing-premia-in-unsecured-credit-markets.htm June 24, 2021 - Structure and Share Data for U.S. Banking Offices of Foreign Entities - There are two reports showing the same structure and asset information for each U.S. office, but in different orders. www.federalreserve.gov/releases/IBA/ June 24, 2021 - Senior Credit Officer Opinion Survey on Dealer Financing Terms - 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/data/scoos.htm June 24, 2021 - Federal Reserve Board releases results of annual bank stress tests, which show that large banks continue to have strong capital levels and could continue lending to households and businesses during a severe recession. www.federalreserve.gov/newsevents/pressreleases/bcreg20210624a.htm ________________________ June 24, 2021 - Lending Standards and Borrowing Premia in Unsecured Credit Markets - Kyle Dempsey and Felicia Ionescu - Using administrative data from Y-14M and Equifax, we find evidence for large spreads in excess of those implied by default risk in the U.S. unsecured credit market. www.federalreserve.gov/econres/feds/lending-standards-and-borrowing-premia-in-unsecured-credit-markets.htm June 24, 2021 - Hedge Fund Treasury Trading and Funding Fragility: Evidence from the COVID-19 Crisis - Mathias S. Kruttli, Phillip J. Monin, Lubomir Petrasek, Sumudu W. Watugala - Hedge fund gross U.S. Treasury exposures doubled from 2018 to February 2020 to $2.4 trillion, primarily driven by relative value arbitrage trading and supported by corresponding increases in repo borrowing. www.federalreserve.gov/econres/feds/hedge-fund-treasury-trading-and-funding-fragility-evidence-from-the-covid-19-crisis.htm June 23, 2021 - Charging Ahead�The Electrification of the Auto Industry By Thomas H. Klier, James Rubenstein - Lately, not a day goes by without a major player in the auto industry issuing a press release that signals a shift toward electrification. www.chicagofed.org/publications/blogs/chicago-fed-insights/2021/charging-ahead-electrification-auto-industry June 23, 2021 - Is a Treasury clearing mandate the path to increased central clearing? By Marta Chaffee, Sam Schulhofer-Wohl - Following stresses in the market for U.S. Treasury securities in March 2020, several observers suggested that increased central clearing of Treasury transactions could help the market function better and called for investigating the costs and benefits of a clearing mandate. www.chicagofed.org/publications/blogs/chicago-fed-insights/2021/treasury-clearing-mandate June 23, 2021 - Bank Secrecy Act/Anti-Money Laundering Examination Manual Update - The Federal Financial Institutions Examination Council is updating sections and related examination procedures in the FFIEC Bank Secrecy Act/Anti-Money Laundering Examination Manual. www.fdic.gov/news/financial-institution-letters/2021/fil21045.html June 23, 2021 - Are Rising U.S. Interest Rates Destabilizing for Emerging Market Economies? - Jasper Hoek, Emre Yoldas, and Steve Kamin - Rising U.S. interest rates are often thought to be bad news for emerging market economies as they increase debt burdens, trigger capital outflows, and generally cause a tightening of financial conditions that can lead to financial crises. www.federalreserve.gov/econres/notes/feds-notes/are-rising-u-s-interest-rates-destabilizing-for-emerging-market-economies-20210623.htm June 23, 2021 - What is programmable money? - Alexander Lee - Discussions of financial technology have recently started to include the idea of "programmable money," though the specific meaning of the term is often unclear. www.federalreserve.gov/econres/notes/feds-notes/what-is-programmable-money-20210623.htm June 23, 2021 - Statistical Release - Finance Companies - G.20. www.federalreserve.gov/releases/g20/current/g20.htm June 23, 2021 - Open Source Cross-Sectional Asset Pricing - Andrew Y. Chen and Tom Zimmermann - We provide data and code that successfully reproduces nearly all crosssectional stock return predictors. Our 319 characteristics draw from previous meta-studies, but we differ by comparing our t-stats to the original papers' results. www.federalreserve.gov/econres/feds/open-source-cross-sectional-asset-pricing.htm June 23, 2021 - Speech by Governor Bowman on community development and economic resilience - Governor Michelle W. Bowman At the Policy Summit 2021: Pathways to Economic Resilience in our Communities, Federal Reserve Bank of Cleveland, Cleveland, Ohio (via prerecorded video). www.federalreserve.gov/newsevents/speech/bowman20210623a.htm June 23, 2021 - Federal Reserve announces it will continue its Fed Listens initiative in 2021 to learn from a broad range of individuals, households, and communities about the economic recovery from the COVID-19 pandemic. www.federalreserve.gov/newsevents/pressreleases/monetary20210623a.htm June 23, 2021 - Minority Depository Institution Credit Unions See Year of Growth - The National Credit Union Administration today issued its eighth annual report to Congress on the composition and financial performance of the minority depository institutions supervised by the NCUA in 2020. www.ncua.gov/newsroom/press-release/2021/minority-depository-institution-credit-unions-see-year-growth June 22, 2021 - The Global Recovery: Lessons from the Past - Dario Caldara, Matthew DeHaven, Francesco Ferrante and Matteo Iacoviello - The downturn in global economic activity caused by the COVID-19 pandemic was unique both for its causes and for its severity. https://www.federalreserve.gov/econres/notes/feds-notes/the-global-recovery-lessons-from-the-past-20210622.htmwww.federalreserve.gov/econres/notes/feds-notes/the-global-recovery-lessons-from-the-past-20210622.htm June 22, 2021 - Federal Reserve Board extends comment period on proposed changes to Regulation II regarding network availability for card-not-present debit card transactions until August 11, 2021. www.federalreserve.gov/newsevents/pressreleases/bcreg20210622a.htm June 22, 2021 - Testimony by Chair Powell on the Federal Reserve's response to the coronavirus pandemic Before the Select Subcommittee on the Coronavirus Crisis, U.S. House of Representatives, Washington, D.C. www.federalreserve.gov/newsevents/testimony/powell20210622a.htm June 21, 2021 - NCUA to Host 2021 Diversity, Equity, and Inclusion Summit for Credit Union System Stakeholders - The National Credit Union Administration will host credit union leaders, credit union trade and support organizations, and diversity and inclusion professionals during the NCUA�s second Diversity, Equity, and Inclusion Summit. www.ncua.gov/newsroom/press-release/2021/ncua-host-2021-diversity-equity-and-inclusion-summit-credit-union-system-stakeholders June 21, 2021 - The Federal Financial Institutions Examination Council today released updates to four sections of the Bank Secrecy Act/Anti-Money Laundering Examination Manual. www.ffiec.gov/press/pr062121.htm June 21, 2021 - Did the U.S. Bilateral Goods Deficit With China Increase or Decrease During the US-China Trade Conflict? - Hunter L. Clark and Anna Wong - The United States' bilateral goods trade deficit with China appeared to have narrowed substantially since the escalation of the U.S.-China trade conflict in 2018, or so U.S. trade data suggest. www.federalreserve.gov/econres/notes/feds-notes/did-the-us-bilateral-goods-deficit-with-china-increase-or-decrease-during-the-us-china-trade-conflict-20210621.htm June 21, 2021 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm June 21, 2021 - The 104th Anniversary of the Federal Reserve's Oldest Data Collection - Scott Konzem, Virginia Lewis, Suzanna Stephens, Gretchen Weinbach, and Michael Zhang - The Federal Reserve's oldest data collection, designed to gather weekly information about commercial banks' balance sheets, will turn 104 years old this year. www.federalreserve.gov/econres/notes/feds-notes/the-104th-anniversary-of-the-federal-reserves-oldest-data-collection-20210621.htm June 21, 2021 - Improving the Measurement of Racial and Ethnic Disparities in the Survey of Consumer Finances - Kevin B. Moore and Karen M. Pence - The Survey of Consumer Finances is one of the main data sources in the United States for assessing and analyzing differences in wealth and financial well-being across families. www.federalreserve.gov/econres/notes/feds-notes/improving-the-measurement-of-racial-and-ethnic-disparities-in-the-survey-of-consumer-finances-20210621.htm June 21, 2021 - Enhanced Financial Accounts, June 2021 update - These projects provide additional detail for selected areas of the Financial Accounts. www.federalreserve.gov/releases/efa/enhanced-financial-accounts.htm June 21, 2021 - Federal Advisory Council, Record of Meeting - May 6, 2021. www.federalreserve.gov/aboutthefed/files/fac-20210506.pdf June 21, 2021 - Primary markets for short-term debt and the stabilizing effects of the PDCF - Mark Carlson and Marco Macchiavelli - During early March 2020, amid rapidly spreading restrictions associated with preventing the spread of COVID-19, financial markets came under immense strain. www.federalreserve.gov/econres/notes/feds-notes/primary-markets-for-short-term-debt-and-the-stabilizing-effects-of-the-pdcf-20210621.htm June 17, 2021 - NCUA Board Member Rodney E. Hood Remarks at the League of Southeastern Credit Unions & Affiliates Southeast Credit Union Conference & Expo. www.ncua.gov/newsroom/speech/2021/ncua-board-member-rodney-e-hood-remarks-league-southeastern-credit-unions-affiliates-southeast June 17, 2021 - OCC Enforcement Actions and Terminations - The Office of the Comptroller of the Currency today released new enforcement actions taken against national banks, federal savings associations, and individuals currently and formerly affiliated with national banks and federal savings associations. www.occ.gov/news-issuances/news-releases/2021/nr-occ-2021-67.html June 17, 2021 - Legal Interpretations - Bank Holding Company Act, May 13, 2021. www.federalreserve.gov/supervisionreg/legalinterpretations/bhc_changeincontrol2021.htm June 17, 2021 - Federal Reserve Board announces termination of enforcement action with Craco, Inc. www.federalreserve.gov/newsevents/pressreleases/enforcement20210617a.htm __________________ June 17, 2021 - OCC Enforcement Actions and Terminations - The Office of the Comptroller of the Currency (OCC) 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. https://www.occ.gov/news-issuances/news-releases/2021/nr-occ-2021-67.html June 17, 2021 - FFIEC Announces Availability of 2020 Data on Mortgage Lending - The Federal Financial Institutions Examination Council today announced the availability of data on 2020 mortgage lending transactions at 4,475 U.S. financial institutions reported under the Home Mortgage Disclosure Act. www.ncua.gov/newsroom/press-release/2021/ffiec-announces-availability-2020-data-mortgage-lending June 17, 2021 - Payment Systems - Automated Clearinghouse Services, quarterly data. www.federalreserve.gov/paymentsystems/fedach_data.htm June 17, 2021 - Payment Systems - Check Services, quarterly data. www.federalreserve.gov/paymentsystems/check_data.htm June 17, 2021 - Chair Powell will host town hall with educators August 2, 2021 at 4 p.m. EDT - The event will be broadcast at federalreserve.gov and at youtube.com/federalreserve. www.federalreserve.gov/newsevents/pressreleases/other20210617a.htm June 16, 2021 - FDITECH Launches Tech Sprint to Reach More Unbanked People - The Federal Deposit Insurance Corporation today announced a �tech sprint� designed to explore new technologies and techniques that would help expand the capabilities of banks to meet the needs of unbanked individuals and households. www.fdic.gov/news/press-releases/2021/pr21053.html June 16, 2021 - Federal Reserve announces the extension of its temporary U.S. dollar liquidity swap lines with nine central banks through December 31, 2021 - These arrangements were first announced on March 19, 2020 to ease strains in global dollar funding markets resulting from the COVID-19 shock and to mitigate the effect of such strains on the supply of credit to households and businesses, both domestically and abroad. www.federalreserve.gov/newsevents/pressreleases/monetary20210616c.htm June 16, 2021 - Federal Reserve Board and Federal Open Market Committee release economic projections from the June 15-16 FOMC meeting. www.federalreserve.gov/newsevents/pressreleases/monetary20210616b.htm June 16, 2021 - Federal Reserve issues FOMC statement - The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals. www.federalreserve.gov/newsevents/pressreleases/monetary20210616a.htm June 15, 2021 - Remarks by the Acting Comptroller of the Currency on Reducing Bias in Real Estate Appraisals - Acting Comptroller of the Currency Michael J. Hsu today delivered remarks to raise awareness about the need to reduce bias in real estate appraisals, during an event on the subject hosted by the Consumer Financial Protection Bureau. www.occ.gov/news-issuances/news-releases/2021/nr-occ-2021-66.html June 15, 2021 - Proposed Rule to Amend Real Estate Lending Standards - The FDIC has proposed a rule to amend the Interagency Guidelines for Real Estate Lending Policies to conform the method for calculating the ratio of loans in excess of the supervisory loan-to-value limits with the capital framework established in the community bank leverage ratio rule. www.fdic.gov/news/financial-institution-letters/2021/fil21041.html June 15, 2021 - FDIC Board Approves New Policy Statement on Minority Depository Institutions - The FDIC�s revised policy statement reflects public comment received in response to a proposal issued in August 2020 and updates, strengthens and clarifies the agency�s policies and procedures related to its existing MDI framework. www.fdic.gov/news/press-releases/2021/pr21052.html June 15, 2021 - Statistical Release - Industrial Production and Capacity Utilization - G.17 - Total industrial production increased 0.8 percent in May. Manufacturing production advanced 0.9 percent, reflecting, in part, a large gain in motor vehicle assemblies; factory output excluding motor vehicles and parts increased 0.5 percent. www.federalreserve.gov/releases/g17/current/default.htm June 11, 2021 - Statement by the Acting Comptroller of the Currency at the Financial Stability Oversight Council - Acting Comptroller of the Currency Michael J. Hsu made the following statement today at the meeting of the Financial Stability Oversight Council with respect to the LIBOR transition: www.occ.gov/news-issuances/news-releases/2021/nr-occ-2021-65.html June 11, 2021 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm June 11, 2021 - Publications - Report and Disclosures on Funding, Credit, Liquidity, and Loan Facilities - The Federal Reserve filed these reports with Congress pursuant to section 13(3) of the Federal Reserve Act concerning the lending facilities established by the Board. www.federalreserve.gov/publications/reports-to-congress-in-response-to-covid-19.htm June 10, 2021 - OCC Hosts Virtual Mutual Savings Association Advisory Committee Meeting June 29 - The purpose of the MSAAC meeting is to advise the OCC on regulatory or other changes the OCC may make to ensure the continued health and viability of mutual savings associations. www.occ.treas.gov/news-issuances/news-releases/2021/nr-occ-2021-64.html June 10, 2021 - Regulatory Relief: Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Louisiana Affected by Severe Storms, Tornadoes, and Flooding. www.fdic.gov/news/financial-institution-letters/2021/fil21040.html June 9, 2021 - The KC Fed LMCI suggests the level of activity continued to edge up in May - The KC Fed LMCI suggests the level of activity continued to edge up in May while momentum was little changed. www.kansascityfed.org/data-and-trends/lmci/current-release/ _________________________ June 10, 2021 - Chicago Fed Survey of Business Conditions - The Chicago Fed Survey of Business Conditions Activity Index decreased to +14 in May from +41 in April, suggesting that economic growth was above trend. www.chicagofed.org/~/media/publications/cfsbc/2021/cfsbc-june2021-pdf.pdf June 10, 2021 - OCC Hosts Virtual Mutual Savings Association Advisory Committee Meeting June 29 - The purpose of the MSAAC meeting is to advise the OCC on regulatory or other changes the OCC may make to ensure the continued health and viability of mutual savings associations. www.occ.gov/news-issuances/news-releases/2021/nr-occ-2021-64.html June 10, 2021 - Statistical Release - Financial Accounts of the United States - Z.1 -The Financial Accounts of the United States includes data on transactions and levels of financial assets and liabilities, by sector and financial instrument; full balance sheets, including net worth, for households and nonprofit organizations, nonfinancial corporate businesses, and nonfinancial noncorporate businesses; Integrated Macroeconomic Accounts; and additional supplemental detail. www.federalreserve.gov/releases/z1/default.htm June 10, 2021 - Federal Reserve Board announces termination of enforcement action with SunTrust Bank. www.federalreserve.gov/newsevents/pressreleases/enforcement20210610a.htm June 9, 2021 - To Improve Accuracy of GDP Forecasts, Add Financial Market Conditions - More timely data on current macroeconomic conditions can reduce uncertainty about forecasts, helping policymakers mitigate risk of extreme economic outcomes. https://www.kansascityfed.org/documents/8119/eb21cookdoh0602.pdf June 8, 2021 - Williams Appointed to St. Louis Fed�s Little Rock Branch Board - Darrin Williams, CEO of Southern Bancorp Inc. in Little Rock, Ark., has been appointed to the board of directors of the Little Rock Branch of the Federal Reserve Bank of St. Louis. Williams will fill the unexpired portion of a three-year term ending Dec. 31, 2023. www.stlouisfed.org/news-releases/2021/06/08/williams-appointed-to-st-louis-feds-little-rock-branch-board June 7, 2021 - Statistical Release - Consumer Credit - G.19 - In April, consumer credit increased at a seasonally adjusted annual rate of 5.3 percent. Revolving credit decreased at an annual rate of 2.4 percent, while nonrevolving credit increased at an annual rate of 7.6 percent. www.federalreserve.gov/releases/g19/current/default.htm June 7, 2021 - Federal Reserve Board announces that results from its bank stress tests will be released on Thursday, June 24, at 4:30 p.m. EDT - Stress tests help ensure that banks have adequate capital to absorb losses so that they can lend to households and businesses even in a severe recession. www.federalreserve.gov/newsevents/pressreleases/bcreg20210607a.htm June 4, 2021 - Clearing: Perspectives on Industry Developments and Learnings From the Covid Crisis By Ketan B. Patel - LaSalle Street hosts a discussion with executives representing exchanges, swap dealers, clearinghouses and asset managers on the impact of the COVID crisis and what to watch for as the pandemic eases. www.chicagofed.org/publications/lasalle-street-podcast/clearing-perspectives-on-industry-developments June 4, 2021 - NCUA - Rising Net Income, Elevated Insured Share Growth Reported in First Quarter of 2021 - According to the latest financial performance data released today by the National Credit Union Administration, federally insured credit unions reported net income growth of $11.3 billion, or 134.9 percent, over the year ending in the first quarter of 2021. www.ncua.gov/newsroom/press-release/2021/rising-net-income-elevated-insured-share-growth-reported-first-quarter-2021 June 4, 2021 - OCC Releases CRA Evaluations for 18 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, 2021 through May 31, 2021. www.occ.treas.gov/news-issuances/news-releases/2021/nr-occ-2021-63.html June 4, 2021 - FOIA - Chair Powell's calendar, April 2021. www.federalreserve.gov/foia/chairman-powell-calendar.htm June 4, 2021 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm June 4, 2021 - Federal Open Market Committee announces its tentative meeting schedule for 2022. www.federalreserve.gov/newsevents/pressreleases/monetary20210604a.htm June 3, 2021 - Speech by Vice Chair for Supervision Quarles on financial regulation At The Prudential Regulation Conference (via webcast). www.federalreserve.gov/newsevents/speech/quarles20210603a.htm June 3, 2021 - Federal Reserve Board issues enforcement action with former employee of BBVA USA. www.federalreserve.gov/newsevents/pressreleases/enforcement20210603a.htm ___________________ June 3, 2021 - FDIC Issues List of Banks Examined for CRA Compliance - The list covers evaluation ratings that the FDIC assigned to institutions in March 2021. www.fdic.gov/news/press-releases/2021/pr21051.html June 3, 2021 - The Internal Capital Markets of Global Dealer Banks - Arun Gupta - This study uncovers the existence of a trillion-dollar internal capital market that played a central role in the financing of dealer banks during the 2008 Global Financial Crisis. www.federalreserve.gov/econres/feds/the-internal-capital-markets-of-global-dealer-banks.htm June 3, 2021 - The COVID-19 Crisis and the Federal Reserve's Policy Response - Richard H. Clarida, Burcu Duygan-Bump, and Chiara Scotti - The COVID-19 pandemic and the mitigation efforts put in place to contain it delivered the most severe blow to the U.S. economy since the Great Depression. www.federalreserve.gov/econres/feds/the-covid-19-crisis-and-the-federal-reserves-policy-response.htm June 2, 2021 - Beige Book - Informal review by the Federal Reserve Banks of current economic conditions in their Districts - The national economy expanded at a moderate pace from early April to late May, a somewhat faster rate than the prior reporting period. www.federalreserve.gov/monetarypolicy/beigebook202106.htm June 2, 2021 - Federal Reserve Board announces plans to begin winding down the portfolio of the Secondary Market Corporate Credit Facility - The Federal Reserve Board on Wednesday announced plans to begin winding down the portfolio of the Secondary Market Corporate Credit Facility, a temporary emergency lending facility that closed on December 31st, 2020. www.federalreserve.gov/newsevents/pressreleases/monetary20210602a.htm June 2, 2021 - Federal Reserve Board issues final rule amending Regulation D with regard to interest on reserve balances - The Federal Reserve Board announced on Tuesday the approval of a final rule amending Regulation D to eliminate references to an interest on required reserves rate and to an interest on excess reserves rate and replace them with a single interest on reserve balances rate. www.federalreserve.gov/newsevents/pressreleases/bcreg20210602a.htm June 1, 2021 - NCUA: CDRLF Funds Have Positive Impact on Communities, Credit Unions - The National Credit Union Administration today released its Community Development Revolving Loan Fund report to Congress, highlighting the fund�s significant, positive impact on low-income credit unions, their members, and communities across the country. www.ncua.gov/newsroom/press-release/2021/ncua-cdrlf-funds-have-positive-impact-communities-credit-unions June 1, 2021 - Summary of Deposits Survey and Filing for June 30, 2021 - 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/financial-institution-letters/2021/fil21039.html June 1, 2021 - Regulatory Relief: Guidance to Help Financial Institutions and Facilitate Recovery in Areas of West Virginia Affected by Severe Storms - The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of West Virginia affected by severe storms. www.fdic.gov/news/financial-institution-letters/2021/fil21038.html June 1, 2021 - The Vaccine Boost: An Analysis of the Impact of the COVID-19 Vaccine Rollout on Measures of Activity - This note quantifies the impact of the rollout across four main dimensions of activity: spending, mobility, education, and employment. www.federalreserve.gov/econres/notes/feds-notes/the-vaccine-boost-an-analysis-of-the-impact-of-the-covid-19-vaccine-rollout-on-measures-of-activity-20210601.htm June 1, 2021 - Speech by Governor Brainard on remaining steady as the economy reopens At The Economic Club of New York, New York, New York (via webcast). www.federalreserve.gov/newsevents/speech/brainard20210601a.htm June 1, 2021 - Federal Reserve Board invites public comment on proposed rule to govern funds transfers over the Federal Reserve Banks' FedNow Service - The FedNow Service is a new 24x7x365 service that will support instant payments in the United States and is expected to be available in 2023. www.federalreserve.gov/newsevents/pressreleases/other20210601a.htm May 28, 2021 - Index points to little change in Midwest growth through April - The MEI will be discontinued following the June 30, 2021, release. www.chicagofed.org/~/media/publications/mei/2021/mei-april2021-pdf.pdf |
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