The E-mail Banking News
(Bank Regulatory News)
March 2012

March 30, 2012 - The Huntington National Bank, Columbus, Ohio, Assumes All of the Deposits of Fidelity Bank, Dearborn, Michigan - Fidelity Bank, Dearborn, Michigan, was closed today by the Michigan Office of Financial and Insurance Regulation, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with The Huntington National Bank, Columbus, Ohio, to assume all of the deposits of Fidelity Bank. www.fdic.gov/news/news/press/2012/pr12038.html

March 30, 2012 - FDIC Makes Public February Enforcement Actions; One Administrative Hearing Scheduled for April 2012 - The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in February. One administrative hearing is scheduled for April 2012. www.fdic.gov/news/news/press/2012/pr12036.html

March 30, 2012 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

March 30, 2012 - G.17 Industrial Production and Capacity Utilization - The Federal Reserve has revised its index of industrial production (IP) and the related measures of capacity and capacity utilization.[1] Measured from fourth quarter to fourth quarter, total IP is now reported to have dropped 0.3 percentage point more in 2009; its gains in both 2010 and 2011 were essentially unchanged from what was previously reported.  www.federalreserve.gov/releases/g17/revisions/Current/DefaultRev.htm

March 30, 2012 - Statistical Release - E.2 Survey of Terms of Business Lending.  www.federalreserve.gov/releases/e2/current/default.htm

March 30, 2012 - Monthly Report on Credit and Liquidity Programs and the Balance Sheet, March 2012.   www.federalreserve.gov/files/monthlyclbsreport201203.pdf

March 30, 2012 - Agencies Clarify Effective Date for Section 716 of the Dodd-Frank Act - Three federal financial regulatory agencies on Friday issued guidance clarifying that the effective date of section 716, the so-called Swaps Pushout provision, of the Dodd-Frank Wall Street Reform and Consumer Protection Act is July 16, 2013. The guidance is being issued by the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency after receiving inquiries seeking clarification about the effective date.
Press Release: www.federalreserve.gov/newsevents/press/bcreg/20120330a.htm
Press Release: www.fdic.gov/news/news/press/2012/pr12037.html
Press Release: www.occ.gov/news-issuances/news-releases/2012/nr-ia-2012-56.html
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March 29, 2012 - Senior Credit Officer Opinion Survey on Dealer Financing Terms, March 2012 report - The Senior Credit Officer Opinion Survey on Dealer Financing Terms is a quarterly survey providing information about the availability and terms of credit in securities financing and over-the counter derivatives markets.  www.federalreserve.gov/econresdata/releases/scoos.htm

March 29, 2012 - Sandra F. Braunstein, Director, Division of Consumer and Community Affairs - Mobile Payments - Before the Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate, Washington, D.C. www.federalreserve.gov/newsevents/testimony/braunstein20120329a.htm

March 28, 2012 - NCUA Bars Former DC FCU Board Member - Prohibition Order Results from NCUA Investigation into Unlawful Release of Confidential Examination Records and CAMEL Rating - The National Credit Union Administration has issued an order prohibiting the following individual from participating in the affairs of any federally insured financial institution: www.ncua.gov/News/Pages/NW20120328Talbert.aspx

March 28, 2012 - Overall Mortgage Performance Remained Stable During the Fourth Quarter of 2011, Improved From a Year Earlier - The performance of first-lien mortgages serviced by large national and federal savings banks changed very little during the fourth quarter of 2011 and showed improvement from the previous year, according to a report released today by the Office of the Comptroller of the Currency . www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-55.html

March 27, 2012 - Governor Elizabeth A. Duke - Building Sustainable Communities - At the 2012 National Interagency Community Reinvestment Conference, Seattle, Washington.  www.federalreserve.gov/newsevents/speech/duke20120327a.htm

March 27, 2012 - Steven B. Kamin, Director, Division of International Finance - The European Economic and Financial Situation - Before the Subcommittee on Domestic Monetary Policy and Technology, Committee on Financial Services, U.S. House of Representatives.   www.federalreserve.gov/newsevents/testimony/kamin20120327a.htm

March 27, 2012 - Federal Reserve Board issues enforcement action Orrstown Financial Services, Inc, and Orrstown Bank, and terminates enforcement action with Cadence Financial Corporation.  www.federalreserve.gov/newsevents/press/enforcement/20120327a.htm

March 26, 2012 - Economic Growth Near Average in February - The Chicago Fed National Activity Index was -0.09 in February, down from +0.33 in January. Economic Growth Near Average in February - The Chicago Fed National Activity Index was -0.09 in February, down from +0.33 in January.   www.chicagofed.org/webpages/publications/cfnai/index.cfm 

March 26, 2012 - Macroeconomic Effects of FOMC Forward Guidance - The setting for this paper is the current monetary policy environment. The Federal Reserve has a dual mandate to promote maximum employment and price stability. At 8.3 percent, the unemployment rate is substantially above reasonable measures of the natural rate; the output gap is probably 5 to 6 percent; and underlying inflation measures are projected to be below our 2 percent objective for a number of years. www.chicagofed.org/webpages/publications/speeches/2012/03_22_12_brookings.cfm 

March 26, 2012 - Agencies Propose Revisions to Leveraged Finance Guidance - The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency are seeking comment on proposed revisions to the interagency leveraged finance guidance issued in 2001. 
Press Release: www.federalreserve.gov/newsevents/press/bcreg/20120326a.htm
Press Release: www.fdic.gov/news/news/press/2012/pr12034.html
Press Release: www.occ.gov/news-issuances/news-releases/2012/nr-ia-2012-54.html

March 26, 2012 - Chairman Ben S. Bernanke - Recent Developments in the Labor Market - At the National Association for Business Economics Annual Conference, Washington, D.C. www.federalreserve.gov/newsevents/speech/bernanke20120326a.htm

March 26, 2012 - The Federal Reserve Bank of San Francisco Announces the 2012 Community Reinvestment Award Winners.  www.frbsf.org/news/releases/2012/0327.html?utm_source=releases 

March 26, 2012 - Acting Comptroller of the Currency Talks About Efforts to Fix Foreclosure Practices at the 2012 Interagency Community Reinvestment Conference - Acting Comptroller of the Currency John Walsh today discussed efforts to correct foreclosure practices during his speech at the 2012 National Interagency Community Reinvestment Conference. www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-53.html 

March 26, 2012 - NCUA - Matz Opens Registration for Second “Listening Session” May 9 in Alexandria - ?Credit Union Officials and Volunteers Invited to Session Co-Hosted by NCUA Region 2 - National Credit Union Administration Board Chairman Debbie Matz today opened registration for her second “Listening Session,” which will take place on May 9 from 1:00-4:00 p.m. at the Westin Alexandria just a short walk from NCUA’s Central Office. www.ncua.gov/News/Pages/NW201203262ndListeningSession.aspx

March 26, 2012 - NCUA - Shepherd’s Federal Credit Union Closes - The National Credit Union Administration today liquidated Shepherd’s Federal Credit Union of Charlotte, N.C. NCUA made the decision to liquidate Shepherd’s Federal Credit Union and discontinue the credit union’s operations after determining the credit union was insolvent and had no prospect for restoring viable operations. www.ncua.gov/News/Pages/NW20120326ShepherdsFCU.aspx

March 23, 2012 - NCUA - Saguache County Member Accounts Purchased by Aventa Credit Union - The Colorado Division of Financial Services appointed the National Credit Union Administration as liquidating agent of Saguache County Credit Union of Moffat, Colo., on March 23, 2012. Immediately following appointment as liquidating agent of Saguache County Credit Union, NCUA entered into an agreement with Aventa Credit Union of Colorado Springs, Colo., to purchase and assume membership shares and certain assets of Saguache County Credit Union. www.ncua.gov/News/Pages/NW20120323SaguacheLiquidation.aspx

March 23, 2012 - International Bank of Chicago, Chicago, Illinois, Assumes All of the Deposits of Premier Bank, Wilmette, Illinois - Premier Bank, Wilmette, Illinois, was closed today by the Illinois Department of Financial and Professional Regulation – Division of Banking, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with International Bank of Chicago, Chicago, Illinois, to assume all of the deposits of Premier Bank. www.fdic.gov/news/news/press/2012/pr12033.html

March 23, 2012 - Stearns Bank, National Association, St. Cloud, Minnesota, Assumes All of the Deposits of Covenant Bank & Trust, Rock Spring, Georgia - Covenant Bank & Trust, Rock Spring, Georgia, was closed today by the Georgia Department of Banking and Finance, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Stearns Bank, National Association, St. Cloud, Minnesota, to assume all of the deposits of Covenant Bank & Trust. www.fdic.gov/news/news/press/2012/pr12032.html

March 23, 2012 - When Good Investments Go Bad: The Contraction in Community Bank Lending After the 2008 GSE Takeover - Tara Rice and Jonathan Rose - In September 2008, the government-sponsored enterprises Fannie Mae and Freddie Mac were placed into conservatorship and dividend payments on common and preferred shares were suspended. www.federalreserve.gov/pubs/ifdp/2012/1045/ifdp1045.pdf 

March 23, 2012 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.    www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

March 23, 2012 - U.S. International Equity Investment - John Ammer, Sara B. Holland, David C. Smith, and Francis E. Warnock - U.S. investors are the largest group of international equity investors in the world, but to date conclusive evidence on which types of foreign firms are able to attract U.S. investment is not available.  www.federalreserve.gov/pubs/ifdp/2012/1044/ifdp1044.pdf 

March 23, 2012 - Chairman Ben S. Bernanke - Opening Remarks - At the Federal Reserve Conference on Central Banking: Before, During, and After the Crisis, Washington, D.C. www.federalreserve.gov/newsevents/speech/bernanke20120323a.htm

March 23, 2012 - March Burgundy Book Shows the Memphis Regional Economy Improving.  www.stlouisfed.org/newsroom/displayNews.cfm?article=1336

March 23, 2012 - March Burgundy Book Shows Continued Weakness for the St. Louis Regional Economy.  www.stlouisfed.org/newsroom/displayNews.cfm?article=1334

March 23, 2012 - March Burgundy Book Shows Continued Improvement for the Louisville Regional Economy.   www.stlouisfed.org/newsroom/displayNews.cfm?article=1335

March 23, 2012 - March Burgundy Book Paints a Mixed Economic Picture for the Little Rock Regional Economy.   www.stlouisfed.org/newsroom/displayNews.cfm?article=1337

March 23, 2012 - NCUA - Telesis Community Credit Union Under NCUA Conservatorship - The California Department of Financial Institutions today placed Telesis Community Credit Union into conservatorship and immediately appointed the National Credit Union Administration as conservator. Telesis Community Credit Union is a state-chartered, federally insured credit union headquartered in Chatsworth, Calif. www.ncua.gov/News/Pages/NW20120323TelesisConservatorship.aspx

March 23, 2012 - OCC Calls for Papers Commemorating 150 Years of the National Banking System - The Office of the Comptroller of the Currency today announced a call for proposals for papers on the history of the OCC, the national banking system, bank and thrift regulation and supervision, and related topics. The OCC and the national banking system were created by the National Currency Act of 1863. www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-52.html

March 23, 2012 - Office of the Comptroller of the Currency Hosts Workshops in Southern Texas - The Office of the Comptroller of the Currency will host workshops for directors of nationally chartered community banks and federal savings associations in Corpus Christi, Texas, at the Omni Corpus Christi Hotel, April 24-25, 2012. www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-51.html

March 22, 2012 - Acting Comptroller of the Currency Testifies on Harmonizing International Financial Regulations - Acting Comptroller of the Currency John Walsh today discussed efforts underway to harmonize U.S. regulatory requirements with international standards during testimony before the Senate Committee on Banking, Housing, and Urban Affairs. www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-50.html

March 22, 2012 - Tenth District Consumer Debt Declines In Fourth Quarter - Average consumer debt in the Tenth Federal Reserve District fell modestly in the fourth quarter of 2011, continuing a steady pattern of decline since the beginning of 2009, according to the Federal Reserve Bank of Kansas City’s quarterly Consumer Credit Reports. www.kc.frb.org/publicat/newsroom/2012pdf/press.release.03.22.12.pdf

March 22, 2012 - Federal Reserve Board issues enforcement action with Remer Bancorporation.   www.federalreserve.gov/newsevents/press/enforcement/20120322a.htm
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March 21, 2012 - Acting Comptroller of the Currency Speaks at the American Bankers Association Government Relations Summit - Acting Comptroller of the Currency John Walsh today discussed community bank and thrift supervision, the examination appeals process, and concerns about the proposed Financial Institutions Examination Fairness and Reform Act at the American Bankers Association Government Relations Summit www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-49.html

March 21, 2012 - FDIC Extends Comment Period on Stress Test Proposal - The Federal Deposit Insurance Corporation (FDIC) extended until April 30, 2012, the comment period on a proposal to implement the requirements in Section 165 of the Dodd-Frank Wall Street Reform and Consumer Protection Act to require state, non-member banks and savings associations with more than $10 billion in consolidated assets to conduct annual stress tests. www.fdic.gov/news/news/press/2012/pr12031.html

March 21, 2012 - Governor Daniel K. Tarullo - Regulatory Reform - Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate, Washington, D.C. www.federalreserve.gov/newsevents/testimony/tarullo20120322a.htm

March 21, 2012 - The Federal Reserve Board on Wednesday announced its approval of the application by Adam Bank Group, Inc., Tampa, Florida, to acquire Brazos Valley Bank, National Association, College Station, Texas. www.federalreserve.gov/newsevents/press/orders/20120321a.htm 

March 21, 2012 - NCUA - Fryzel Urges Credit Unions to “Take the Moment” - At the Credit Union National Association’s Governmental Affairs Conference over 4,000 credit union attendees listened here today as National Credit Union Administration Board Member Michael E. Fryzel urged them to do their part and seize the moment by using the credit union philosophy to bring America back to its tried and tested values of work, achievement, and helping others. www.ncua.gov/News/Pages/NW20120321FryzelGAC.aspx

March 20, 2012 - Chairman Ben S. Bernanke - The European Economic and Financial Situation - Before the Committee on Government Oversight and Reform, U.S. House of Representatives, Washington, D.C. www.federalreserve.gov/newsevents/testimony/bernanke20120321a.htm

March 20, 2012 - NCUA - Hyland Speech Reviews “Promises Kept” - NCUA Board Member Also Proactively Setting Guardrails to Protect Credit Unions - In a speech before more than 4,000 participants at the Credit Union National Association’s Governmental Affairs Conference, National Credit Union Administration Board Member Gigi Hyland reflected here today on her path from a credit union advocate to a regulator. During her first appearance six years ago as a regulator at the GAC, Hyland made two promises: www.ncua.gov/News/Pages/NW20120320HylandGAC.aspx

March 20, 2012 - OCC Reports Fourth Quarter Trading Revenue of $2.5 Billion - Commercial banks reported trading revenue of $2.5 billion in the fourth quarter of 2011, 70 percent lower than revised third quarter revenues of $8.5 billion, and 27 percent lower than in the fourth quarter of 2010, 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/2012/nr-occ-2012-48.html

March 20, 2012 - The FDIC Board Today Approved Two Notices of Proposed Rulemaking - The FDIC Board today approved two Notices of Proposed Rulemaking. www.fdic.gov/news/news/press/2012/pr12030.html

March 20, 2012 - The Federal Reserve System on Tuesday released the 2011 combined annual comparative financial statements for the Federal Reserve Banks, as well as for the 12 individual Federal Reserve Banks, the limited liability companies that were created to respond to strains in financial markets, and the Board of Governors. These financial statements are audited annually by an independent auditing firm. www.federalreserve.gov/newsevents/press/other/20120320a.htm

March 20, 2012 - Federal Reserve Board announces termination of enforcement action against Mid America Bank and Trust Company.   www.federalreserve.gov/newsevents/press/enforcement/20120320a.htm

March 19, 2012 - NCUA - Matz Hosting “Listening Sessions” to Hear from Credit Unions - Credit Union Officials Invited to Six Sessions Covering All NCUA Regions - National Credit Union Administration Board Chairman Debbie Matz today announced her plan to host “Listening Sessions” across America from May through July. www.ncua.gov/News/Pages/NW20120319Listen.aspx

March 19, 2012 - OCC Deputy Comptroller Testifies on Foreclosure Enforcement Orders - Deputy Comptroller for Large Bank Supervision Morris Morgan testified today about the OCC's comprehensive enforcement orders regarding mortgage servicing and foreclosure deficiencies before the House Committee on Oversight and Government Reform. www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-47.html

March 19, 2012 - St. Louis Fed Little Rock Branch Announces Changes to Board of Directors - The Federal Reserve Bank of St. Louis has announced the following changes to its Little Rock Branch board of directors: www.stlouisfed.org/newsroom/displayNews.cfm?article=1323

March 19, 2012 - St. Louis Fed Memphis Branch Announces Changes to Board of Directors - The Federal Reserve Bank of St. Louis has announced the following changes to its Memphis Branch board of directors: www.stlouisfed.org/newsroom/displayNews.cfm?article=1324

March 19, 2012 - Guidelines Regarding the Copying and Removal of Confidential Financial Institution Information - The FDIC has observed a limited number of instances in which directors and officers of troubled or failing institutions have made copies of financial institution and supervisory records, and removed those copies from the institution in anticipation of litigation or enforcement activity against them personally. www.fdic.gov/news/news/financial/2012/fil12014.html

March 19, 2012 - Regulatory Reform - Communications with the public through March 19, 2012.  www.federalreserve.gov/newsevents/reform_meetings.htm

March 19, 2012 - Suzanne G. Killian, Senior Associate Director, Division of Consumer and Community Affairs - Foreclosures and the Housing Market - Before the Committee on Oversight and Government Reform, U.S. House of Representatives, Field Hearing, Brooklyn, New York.   www.federalreserve.gov/newsevents/testimony/killian20120319a.htm

March 16, 2012 - Office of the Comptroller of the Currency Hosts Workshops in Alabama - The Office of the Comptroller of the Currency will host workshops for directors of nationally chartered community banks and federal savings associations in Birmingham, Alabama, at the Wynfrey Hotel, April 17-18, 2012. www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-46.html

March 16, 2012 - Federal Reserve Bank of Kansas City appoints senior vice president and director of research.   www.kc.frb.org/publicat/newsroom/2012pdf/press.release.03.16.12.pdf

March 16, 2012 - Credit and Liquidity Programs and the Balance Sheet - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.  www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

March 16, 2012 - Statistical Release - G.17 Industrial Production - Industrial production was unchanged in February after having risen 0.4 percent in January. Previously, industrial production was reported to have been unchanged in January. Manufacturing output moved up 0.3 percent in February. Within manufacturing, the index for motor vehicles and parts fell 1.1 percent after jumping 8.6 percent in January, but the index for manufacturing excluding motor vehicles and parts increased 0.4 percent in February. www.federalreserve.gov/releases/g17/current/
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March 15, 2012 - OCC and Interagency Council on Homelessness Host Webinar on Bank Financing of Permanent Supportive Housing - The Office of the Comptroller of the Currency and the U. S. Interagency Council on Homelessness will host a free live webinar from 2:00 to 3:30 p.m. EST on April 25, 2012. www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-45.html

March 15, 2012 - OCC Issues Final Semi-Annual Cost of Funds Reports - The Office of the Comptroller of the Currency (OCC) today issued the final Cost of Funds reports (current and historical), which provide information about funding costs covering the six-month period ending December 31, 2011, for institutions formerly regulated by the Office of Thrift Supervision.  www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-44.html

March 15, 2012 - Legal Interpretations - Banking Holding Company Act, March 15, 2012.   www.federalreserve.gov/bankinforeg/LegalInterpretations/bhc_changeincontrol20120315.pdf

March 15, 2012 - Federal Reserve Board announces termination of enforcement actions against Citizens Bancshares, The Citizens Bank of Edmond, and Credit Suisse AG.   www.federalreserve.gov/newsevents/press/enforcement/20120315a.htm

March 14, 2012 - Chairman Ben S. Bernanke - Community Banking - At the Independent Community Bankers of America National Convention and Techworld, Nashville, Tennessee.  www.federalreserve.gov/newsevents/speech/bernanke20120314a.htm

March 14, 2012 - The Federal Reserve Board on Wednesday launched its official Twitter channel--@federalreserve --with the aim of increasing the accessibility and availability of Federal Reserve Board news. www.federalreserve.gov/newsevents/press/other/20120314a.htm

March 14, 2012 - One out of five American consumers used their mobile phone to access their bank account, credit card, or other financial account in the 12 months ending in January 2012 and an additional one out of five indicated they would likely use mobile banking at some point in the future, according to a Federal Reserve Board survey.  www.federalreserve.gov/newsevents/press/other/20120314b.htm

March 14, 2012 - OCC Releases CRA Evaluations for 22 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 February 15, 2012 through March 14, 2012. www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-43.html

March 13, 2012 - Acting Comptroller of the Currency Discusses Challenges Facing Community Banks and Thrifts - Acting Comptroller of the Currency John Walsh today discussed challenges facing community banks and thrifts during a speech before attendees of the Independent Community Bankers of America Annual Convention. www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-42.html

March 13, 2012 - Federal Reserve Bank of Kansas City announces promotions, officer appointments.   www.kc.frb.org/publicat/newsroom/2012pdf/press.release.03.13.12.pdf

March 13, 2012 - Bryan Jordan Reappointed to Federal Advisory Council - The board of directors of the Federal Reserve Bank of St. Louis has reappointed Bryan Jordan, chairman, president and CEO of First Horizon National Corp., in Memphis, Tenn., to serve on the Federal Advisory Council for a one-year term that ends on December 31, 2012. www.stlouisfed.org/newsroom/displayNews.cfm?article=1313

March 13, 2012 - Livability Experts To Address “Livability and Jobs” at the St. Louis Fed - ST. LOUIS - Three nationally known experts on the topic of livable communities will join local officials to discuss “Livability and Jobs” at the Federal Reserve Bank of St. Louis on Tuesday, March 20, 2012.   www.stlouisfed.org/newsroom/displayNews.cfm?article=1315 

March 13, 2012 - St. Louis Fed Announces Changes to Board of Directors.  www.stlouisfed.org/newsroom/displayNews.cfm?article=1314

March 13, 2012 - Regulatory Relief - Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Indiana Affected by Severe Storms, Tornadoes, and Straight-Line Winds - The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Indiana affected by severe storms. www.fdic.gov/news/news/financial/2012/fil12013.html

March 13, 2012 - Federal Reserve announces summary results of latest round of bank stress tests - The Federal Reserve on Tuesday announced summary results of the latest round of bank stress tests, which show that the majority of the largest U.S. banks would continue to meet supervisory expectations for capital adequacy despite large projected losses in an extremely adverse hypothetical economic scenario.   www.federalreserve.gov/newsevents/press/bcreg/20120313a.htm

March 13, 2012 - Federal Reserve issues FOMC statement - Information received since the Federal Open Market Committee met in January suggests that the economy has been expanding moderately. Labor market conditions have improved further; the unemployment rate has declined notably in recent months but remains elevated. Household spending and business fixed investment have continued to advance.   www.federalreserve.gov/newsevents/press/monetary/20120313a.htm

March 13, 2012 - Federal Reserve Board issues enforcement action with Central Bancorp.   www.federalreserve.gov/newsevents/press/enforcement/20120313a.htm

March 12, 2012 - NCUA Settles Claims Against HSBC - The National Credit Union Administration and HSBC reached a settlement regarding potential claims relating to the sale of residential mortgage-backed securities to five failed wholesale credit unions. www.ncua.gov/News/Pages/NW20120312HSBCClaim.aspx

March 12, 2012 - 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/2012/nr-occ-2012-41.html

March 12, 2012 - Regulatory Reform - Communications with the public through March 12, 2012.  www.federalreserve.gov/newsevents/reform_meetings.htm

March 12, 2012 - Habit formation heterogeneity: Implications for aggregate asset pricing - Eduard Dubin, Olesya V. Grishchenko, and Vasily Kartashov -We study the asset pricing implications of a general equilibrium Lucas endowment economy inhabited by two agents with habit formation preferences. Preferences are modeled either as internal or external habits. We allow for agents' heterogeneity in relative risk aversion and habit strength. www.federalreserve.gov/pubs/feds/2012/201207/201207pap.pdf

March 12, 2012 - Inflation Risk Premium: Evidence from the TIPS market - Olesya V. Grishchenko and Jing-zhi Huang - Inflation-indexed securities would appear to be the most direct source of information about inflation expectations and real interest rates" (Bernanke, 2004). In this paper we study the term structure of real interest rates, expected inflation and inflation risk premia using data on prices of Treasury Inflation Protected Securities over the period 2000-2008.  www.federalreserve.gov/pubs/feds/2012/201206/201206pap.pdf

March 12, 2012 - The Federal Reserve on Monday released a paper describing the methodology used in the stress test in the 2012 Comprehensive Capital Analysis and Review as well as the templates for disclosure of the summary results, which will be issued at 4:30 p.m. EDT on Thursday, March 15.   www.federalreserve.gov/newsevents/press/bcreg/20120312a.htm

March 9, 2012 - FDIC Approves the Payout of the Insured Deposits of New City Bank, Chicago, Illinois - The Federal Deposit Insurance Corporation (FDIC) approved the payout of the insured deposits of New City Bank, Chicago, Illinois. The bank was closed today by the Illinois Department of Financial and Professional Regulation – Division of Banking, which appointed the FDIC as receiver. www.fdic.gov/news/news/press/2012/pr12029.html

March 9, 2012 - Bank Regulatory Agencies and CDFI Fund to Sponsor National Interagency Community Reinvestment Conference - The federal bank regulatory agencies, the Federal Reserve Bank of San Francisco, and the Community Development Financial Institutions Fund will host the 2012 National Interagency Community Reinvestment Conference in Seattle, Washington, from March 25 to 28.
Press Release: www.fdic.gov/news/news/press/2012/pr12028.html
Press Release: www.occ.gov/news-issuances/news-releases/2012/nr-ia-2012-40.html

March 9, 2012 - Statistical Release - Large Commercial Banks.  www.federalreserve.gov/releases/lbr/current/default.htm

March 9, 2012 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

March 9, 2012 - Agencies and CDFI Fund to sponsor National Interagency Community Reinvestment Conference - The federal bank regulatory agencies, the Federal Reserve Bank of San Francisco, and the Community Development Financial Institutions Fund will host the 2012 National Interagency Community Reinvestment Conference in Seattle, Washington, from March 25 to 28.  www.federalreserve.gov/newsevents/press/other/20120309a.htm
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March 8, 2012 - Freedom of Information Act - Chief FOIA Officer Report - The Chief FOIA Officer of the Board of Governors of the Federal Reserve System (Board), Jennifer J. Johnson, hereby submits the Chief FOIA Officer Report on behalf of the Board in accordance with the template provided by the Department of Justice. www.federalreserve.gov/foia/foiaofficerreport.htm 

March 8, 2012 - Statistical Release - Z.1 Flow of Funds.  www.federalreserve.gov/releases/z1/Current/

March 8, 2012 - Federal Reserve Board releases action plans for three supervised financial institutions to correct deficiencies in residential mortgage loan servicing and foreclosure processing - The Federal Reserve Board on Thursday released action plans for three supervised financial institutions to correct deficiencies in residential mortgage loan servicing and foreclosure processing. The three institutions are HSBC North America Holdings, Inc., Ally Financial Inc., and IMB HoldCo. LLC. www.federalreserve.gov/newsevents/press/enforcement/20120308b.htm

March 8, 2012 - Termination of the enforcement action with Sterling Financial Corporation.   www.federalreserve.gov/newsevents/press/enforcement/20120308a.htm

March 7, 2012 - Office of Small Credit Union Initiatives Posts Second Free Video - Credit Union Officials Highlight Direct Assistance from Economic Development Specialists - Small credit unions interested in accessing free consultants may now view the second video posted by the National Credit Union Administration’s Office of Small Credit Union Initiatives (OSCUI).  www.ncua.gov/News/Pages/NW20120307OSCUI2ndVideo.aspx

March 7, 2012 - Statistical Release - G.19 Consumer Credit - Consumer credit increased at an annual rate of 8-1/2 percent in January. Revolving credit decreased at an annual rate of 4-1/2 percent, while nonrevolving credit increased at an annual rate of 14-3/4 percent. www.federalreserve.gov/releases/g19/current/default.htm 

March 7, 2012 - Legal Developments - Section 19 letters August 16 (2 letters), 18, 30, and 31, September 26, October 13, December 6, 2011.   www.federalreserve.gov/bankinforeg/legaldevelopments/ordersother2011.htm#11645 

March 5, 2012 - NCUA Issues Prohibition Order - The National Credit Union Administration (NCUA) has issued an order prohibiting the following individual from participating in the affairs of any federally insured financial institution: www.ncua.gov/News/Pages/NW20120305ProhibitionSidley.aspx

March 6, 2012 - Office of the Comptroller of the Currency Hosts Workshop in Illinois - The Office of the Comptroller of the Currency will host a workshop for directors of nationally chartered community banks and federal savings associations in Springfield, Illinois, at the Hilton Springfield, April 2-4, 2012. www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-39.html

March 6, 2012 - OCC Releases CRA Evaluations for 14 National Banks and Federal Savings Associations - The Office of the Comptroller of the Currency (OCC) today released a list of Community Reinvestment Act performance evaluations that became public during the period of January 15, 2012 through February 14, 2012. www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-38.html

March 6, 2012 - OCC Releases CRA Evaluations for 22 National Banks and Federal Savings Associations - OCC Releases CRA Evaluations for 17 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 November 15, 2011 through December 14, 2011. www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-37.html 

March 6, 2012 - Lechleiter Joins St. Louis Fed’s Health Care Industry Council - Richard A. Lechleiter, Chief Financial Officer for Kindred Healthcare, Inc., of Louisville, Ky., has been named to the Heath Care Industry Council of the Federal Reserve Bank of St. Louis. www.stlouisfed.org/newsroom/displayNews.cfm?article=1307

March 6, 2012 - Consolidated Reports of Condition and Income - The Federal Financial Institutions Examination Council (FFIEC) has approved certain revisions to the Consolidated Reports of Condition and Income for implementation as of March 31 and June 30, 2012. www.fdic.gov/news/news/financial/2012/fil12011.html

March 6, 2012 - The Effect of TARP on Bank Risk-Taking - Lamont Black and Lieu Hazelwood - One of the largest responses of the U.S. government to the recent financial crisis was the Troubled Asset Relief Program. TARP was originally intended to stabilize the financial sector through the increased capitalization of banks. www.federalreserve.gov/pubs/ifdp/2012/1043/ifdp1043.pdf

March 6, 2012 - Proposal to extend, with revisions, Report of Assets and Liabilities of U.S. Branches and Agencies of Foreign Banks; Report of Assets and Liabilities of a Non-U.S. Branch that is Managed or Controlled by a U.S. Branch or Agency of a Foreign Bank.   www.federalreserve.gov/boarddocs/press/foiadocs/2012/20120305/foia20120305.pdf

March 6, 2012 - The Federal Reserve and the Financial Crisis - Watch Chairman Ben S. Bernanke deliver a four-part lecture series about the Federal Reserve and the financial crisis on March 20, 22, 27, and 29, 2012 at 12:45 p.m. ET. www.federalreserve.gov/newsevents/lectures/about.htm

March 5, 2012 - NCUA Issues Prohibition Order - The National Credit Union Administration (NCUA) has issued an order prohibiting the following individual from participating in the affairs of any federally insured financial institution: www.ncua.gov/News/Pages/NW20120305ProhibitionSidley.aspx

March 5, 2012 - OCC Releases CRA Evaluations for 19 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 October 15, 2011 through November 14, 2011. www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-35.html

March 5, 2012 - OCC Releases CRA Evaluations for 47 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 September 15, 2011 through October 14, 2011. www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-34.html

March 5, 2012 -FDIC Announces a Quick Guide for Consumers on Credit, Debit and Prepaid Cards - Other Services Also Highlighted for National Consumer Protection Week - In observance of National Consumer Protection Week 2012, the FDIC has issued a guide to help consumers understand the differences between debit, credit and prepaid cards. The guide is intended to help consumers, who routinely use cards to pay for goods and services but who don't always understand the differences in how these cards work or the applicable consumer protections. www.fdic.gov/news/news/press/2012/pr12027.html

March 5, 2012 - 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/2012/pr12026.html

March 5, 2012 - Communications with the Public - The Federal Reserve Board will be involved in many rulemakings to implement the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. During the rulemaking process, meetings will take place between the Board and the public--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/newsevents/reform_meetings.htm

March 2, 2012 - Metro City Bank, Doraville, Georgia, Assumes All of the Deposits of Global Commerce Bank, Doraville, Georgia - Global Commerce Bank, Doraville, Georgia, was closed today by the Georgia Department of Banking and Finance, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Metro City Bank, Doraville, Georgia, to assume all of the deposits of Global Commerce Bank.  www.fdic.gov/news/news/press/2012/pr12025.html 

March 2, 2012 - NCUA Webinar with CFPB Director Cordray Now Available Online - The National Credit Union Administration announced today the availability on the agency’s website of the archived Feb. 8 webinar with Consumer Financial Protection Bureau Director Richard Cordray. www.ncua.gov/News/Pages/NW20120302Webinar.aspx

March 2, 2012 - OCC Releases CRA Evaluations for 18 National Banks and Federal Savings Associations - The Office of the Comptroller of the Currency (OCC) today released a list of Community Reinvestment Act performance evaluations that became public during the period of August 15, 2011 through September 14, 2011. The list contains only national banks, federal savings associations, and insured federal branches of foreign banks that have received ratings. The possible ratings are outstanding, satisfactory, needs to improve, and substantial noncompliance. www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-33.html

March 2, 2012 - OCC Issues Second Quarter 2012 CRA Examination Schedule - The Office of the Comptroller of the Currency (OCC) today released its schedule of Community Reinvestment Act (CRA) examinations to be conducted in the second quarter of 2012. www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-32.html

March 2, 2012 - Upgrades of Supervisory Ratings for Banking Organizations with $10 Billion or Less in Total Consolidated Assets.   www.federalreserve.gov/bankinforeg/srletters/sr1204.htm

March 2, 2012 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

March 2, 2012 - The Federal Reserve Board on Friday issued guidance to ensure that supervisors apply consistent standards as they evaluate whether banking organizations with $10 billion or less in assets are eligible for upgrades of supervisory ratings. www.federalreserve.gov/newsevents/press/bcreg/20120302b.htm

March 2, 2012 -The Federal Reserve Board on Friday extended the comment period until April 30, 2012, on a proposed rule to implement the enhanced prudential standards and early remediation requirements in the Dodd-Frank Wall Street Reform and Consumer Protection Act. www.federalreserve.gov/newsevents/press/bcreg/20120302a.htm
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March 1, 2012 - OCC Releases CRA Evaluations for 36 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 July 15, 2011 through August 14, 2011. www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-31.html

March 1, 2012 -Membership Appointment to Federal Reserve Bank of San Francisco's Community Depository Institutions Advisory Council - The Federal Reserve Bank of San Francisco announced that Maria P. Kunac, President and CEO, Coronado First Bank, Coronado, CA, was appointed as the newest member of the Twelfth District's Community Depository Institutions Advisory Council Ms. Kunac will serve a three-year term. www.frbsf.org/news/releases/2012/0229.html?utm_source=releases

March 1, 2012 - St. Louis Fed Releases Econ Ed Mobile App for the iPad/iPhone - The Federal Reserve Bank of St. Louis has released its first economic education and personal finance application for the iPad, iPhone and iTouch. www.stlouisfed.org/newsroom/displayNews.cfm?article=1301

March 1, 2012 - Governor Sarah Bloom Raskin - Accommodative Monetary Policy and Its Effects on Savers - At the Y's Men and Y's Women of Westport, Westport, Connecticut.  www.federalreserve.gov/newsevents/speech/raskin20120301a.htm 

March 1, 2012 - NCUA - Matz: “Credit Unions Ended 2011 in a Safer and Stronger Position” - ?Fourth-Quarter Industry Indicators Improve as Membership Reaches New High - Key financial measures for credit unions improved in the last quarter of 2011, according to Call Report data submitted by the nation’s 7,094 federally insured credit unions and compiled by the National Credit Union Administration.   www.ncua.gov/News/Pages/NW20120301Q4IndustryCReport.aspx