The E-mail Banking News
(Bank Regulatory News)
March 2013

March 29, 2013 - NCUA Issues Prohibition Orders - The National Credit Union Administration has issued orders prohibiting the following individuals from participating in the affairs of any federally insured financial institution.  www.ncua.gov/News/Pages/NW20130329Prohibition.aspx

March 29, 2013 - Reports - Statistical Releases - E.16 Country Exposure Lending Survey and Country Exposure Information Report.  www.ffiec.gov/e16.htm

March 29, 2013 - FDIC Makes Public February Enforcement Actions; No Administrative Hearings Scheduled for April 2013.   www.fdic.gov/news/news/press/2013/pr13023.html

March 29, 2013 - Statistical Release - Survey of Terms of Business Lending - E.2.  www.federalreserve.gov/releases/e2/current/default.htm

March 29, 2013 - Report to the Congress - On the Office of Minority and Women Inclusion.  www.federalreserve.gov/publications/other-reports/files/omwi-report-20130329.pdf

March 29, 2013 - Supervisory Practices Regarding Banking Organizations and their Borrowers and Other Customers Affected by a Major Disaster or Emergency.  www.federalreserve.gov/bankinforeg/srletters/sr1306.pdf

March 29, 2013 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.  www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

March 29, 2013 - Interagency Statement on the Impact of Biggert-Waters Act.
Press Release: www.federalreserve.gov/bankinforeg/caletters/CA_Letter_13-2.pdf
Press Release: www.fdic.gov/news/news/financial/2013/fil13014.html
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March 29, 2013 - The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in February. No administrative hearings are scheduled for April 2013. http://www.fdic.gov/news/news/press/2013/pr13023.html

March 27, 2013 - NCUA - Stabilization Fund Earns Clean 2012 Audit - KPMG Issues Unqualified Opinion to NCUA for Fourth Consecutive Audit - The Temporary Corporate Credit Union Stabilization Fund has again received a clean audit opinion, the National Credit Union Administration announced today. www.ncua.gov/News/Pages/NW20130327Audit.aspx

March 27, 2013 - OCC Reports on Mortgage Performance for Fourth Quarter - The overall quality of first-lien mortgages serviced by large national and federal savings banks improved from the prior quarter and from the same period a year ago according to a report released today by the Office of the Comptroller of the Currency.  www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-56.html

March 27, 2013 - Louisville Branch Helps Promote Financial Empowerment - Staff from the Federal Reserve Bank of St. Louis’ Louisville Branch helped lead the Financial Empowerment Summit in Louisville on March 7, 2013. www.stlouisfed.org/newsroom/displayNews.cfm?article=1722 

March 27, 2013 - Final Joint Guidance on Leveraged Lending - The Federal Deposit Insurance Corporation, Board of Governors of the Federal Reserve System, and the Office of the Comptroller of the Currency are issuing the final guidance on leveraged lending activities.  www.fdic.gov/news/news/financial/2013/fil13013.html

March 27, 2013 - Consumers and Mobile Financial Services - Matthew B. Gross, Alexandra M. Rock, and Maximilian D. Schmeiser - This report presents findings from the Federal Reserve Board's second survey on consumers' use of mobile financial services, conducted in November 2012.  www.federalreserve.gov/econresdata/consumers-and-mobile-financial-services-report-201303.pdf

March 27, 2013 - Federal Reserve survey provides information on mobile financial services - The use of mobile phones to access a bank account, credit card, or other financial account became more prevalent in the Unites States last year, according to the Federal Reserve Board's latest report on the use of mobile financial services. www.federalreserve.gov/newsevents/press/other/20130327b.htm

March 27, 2013 - Board begins 2013 Survey of Consumer Finances - The Federal Reserve Board in April will begin a statistical study of household finances, the Survey of Consumer Finances, that will provide policymakers with important insight into the economic condition of all types of American families. www.federalreserve.gov/newsevents/press/other/20130327a.htm

March 26, 2013 - Comptroller Issues Statement Regarding Senator Tim Johnson - Comptroller of the Currency Thomas J. Curry issued the following statement regarding Senator Tim Johnson’s decision not to seek reelection. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-55.html

March 26, 2013 - Office of the Comptroller of the Currency Hosts Workshop in New York - The Office of the Comptroller of the Currency will host a workshop in Syracuse, N.Y., at the Sheraton Syracuse University Hotel, May 6-8, for directors of national community banks and federal savings associations. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-54.html

March 26, 2013 - Louisville Branch Promotes Savings Strategies for Students - The Louisville Branch of the Federal Reserve Bank of St. Louis played a key role in Kentucky Saves Week, an event promoting savings strategies for middle school students. www.stlouisfed.org/newsroom/displayNews.cfm?article=1720

March 26, 2013 - Quarterly Report on Federal Reserve Balance Sheet Developments, March 2013 - The Federal Reserve prepares this quarterly report as part of its efforts to enhance transparency about its balance sheet, financial information, and monetary policy tools, and to ensure appropriate accountability to the Congress and the public. www.federalreserve.gov/monetarypolicy/files/quarterly_balance_sheet_developments_report_201303.pdf

March 26, 2013 - Federal Reserve Board announces enforcement action with Citigroup and termination of enforcement action with East Dubuque Bancshares and East Dubuque Savings Bank www.federalreserve.gov/newsevents/press/enforcement/20130326a.htm

March 25, 2013 - Office of the Comptroller of the Currency Hosts Workshop in Seattle - The Office of the Comptroller of the Currency will host a workshop in Seattle at the Hilton Seattle Airport & Conference Center, April 29-May 1, for directors of national community banks and federal savings associations. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-53.html

March 25, 2013 - A Theory of Rollover Risk, Sudden Stops, and Foreign Reserves - Sewon Hur and Illenin O. Kondo - Emerging economies, unlike advanced economies, have accumulated large foreign reserve holdings. We argue that this policy is an optimal response to an increase in foreign debt rollover risk. www.federalreserve.gov/pubs/ifdp/2013/1073/ifdp1073.pdf

March 25, 2013 - The Cyclicality of Job-to-Job Transitions and Its Implications for Aggregate Productivity - Toshihiko Mukoyama - This paper analyzes the job-to-job transitions of workers in the United States.  www.federalreserve.gov/pubs/ifdp/2013/1074/ifdp1074.pdf

March 25, 2013 - Challenges for the Future of Chinese Economic Growth - Jane Haltmaier - The Chinese economy has been growing at a rapid pace for over thirty years. Most of this growth has come from higher labor productivity, while growth of employment has diminished along with a slower rate of increase in the working-age population. www.federalreserve.gov/pubs/ifdp/2013/1072/ifdp1072.pdf

March 25, 2013 - Uncertainty, Risk, and Incentives: Theory and Evidence - Zhiguo He, Si Li, Bin Wei, and Jianfeng Yu - Uncertainty has qualitatively different implications than risk in studying executive incentives. www.federalreserve.gov/pubs/feds/2013/201318/201318pap.pdf

March 25, 2013 - Exchange Rates, Monetary Policy Statements, and Uncovered Interest Parity: Before and After the Zero Lower Bound - Michael T. Kiley - While uncovered interest parity fails unconditionally, UIP conditional on monetary policy actions remains a cornerstone of macroeconomic models used for monetary policy analysis.  www.federalreserve.gov/pubs/feds/2013/201317/201317pap.pdf

March 25, 2013 - Monetary Policy Statements, Treasury Yields, and Private Yields: Before and After the Zero Lower Bound - Michael T. Kiley - Monetary policy actions since 2008 have influenced long-term interest rates through forward guidance and quantitative easing - both "unconventional" strategies.  www.federalreserve.gov/pubs/feds/2013/201316/201316pap.pdf

March 25, 2013 - The Response of Equity Prices to Movements in Long-term Interest Rates Associated With Monetary Policy Statements: Before and After the Zero Lower Bound - Michael T. Kiley - Monetary policy actions since 2008 have influenced long-term interest rates through forward guidance and quantitative easing.  www.federalreserve.gov/pubs/feds/2013/201315/201315pap.pdf

March 25, 2013 - Expectations of functions of stochastic time with application to credit risk modeling - Ovidiu Costin, Michael B. Gordy, Min Huang, and Pawel J. Szerszen - We develop two novel approaches to solving for the Laplace transform of a time-changed stochastic process.  www.federalreserve.gov/pubs/feds/2013/201314/201314pap.pdf

March 25, 2013 - Communications with the public through March 25, 2013.    www.federalreserve.gov/newsevents/reform_meetings.htm

March 22, 2013 - Chairman Ben S. Bernanke - Monetary Policy and the Global Economy - At the Department of Economics and STICERD (Suntory and Toyota International Centres for Economics and Related Disciplines) Public Discussion in Association with the Bank of England, London School of Economics, London, United Kingdom www.federalreserve.gov/newsevents/speech/bernanke20130325a.htm

March 22, 2013 - The Federal Financial Institutions Examination Council member agencies today announced the addition of a new feature to the Information Technology Examination Handbook InfoBase. This feature provides bankers, agency personnel, and other interested parties with the ability to register and receive notifications of additions, changes, and deletions to the InfoBase. www.ffiec.gov/press/pr032213.htm

March 22, 2013 - Revisions to the Required Data Fields for the Interagency Loan Data Request.   www.federalreserve.gov/bankinforeg/srletters/sr1305.pdf

March 22, 2013 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

March 22, 2013 - Governor Sarah Bloom Raskin - Focusing on Low- and Moderate-Income Working Americans - At the National Community Reinvestment Coalition Annual Conference, Washington, D.C. www.federalreserve.gov/newsevents/speech/raskin20130322.htm

March 22, 2013 - Federal Reserve Board announces approval of application filed by FirstMerit Corporation.   www.federalreserve.gov/newsevents/press/orders/20130322a.htm

March 22, 2013 - Increase in required electronic loan data fields - Federal and state bank supervisors today announced an increase in the number of required loan data fields in the Interagency Loan Data Request.
Press Release: www.federalreserve.gov/newsevents/press/bcreg/20130322a.htm
Press Release: www.fdic.gov/news/news/press/2013/pr13022.html
Press Release: www.occ.gov/news-issuances/news-releases/2013/nr-ia-2013-52.html

March 21, 2013 - Nine Central District States Show Improvement in the Community Banking Sector Office of the Comptroller of the Currency Analysis Shows - Financial performance of the community banking industry in nine Central District states is improving and the number of problem banks has fallen, according to the Office of the Comptroller of the Currency. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-51.html

March 21, 2013 - Proposal for Comment - Proposal to approve under OMB delegated authority the implementation the Annual Company-Run Stress Test Projections.  www.federalreserve.gov/apps/foia/proposedregs.aspx#icp

March 21, 2013 - Agencies Issue Updated Leveraged Lending Guidance - Federal bank regulatory agencies today released updated supervisory guidance on leveraged lending, which has been increasing since 2009 after declining during the financial crisis.
Press Release: www.federalreserve.gov/newsevents/press/bcreg/20130321a.htm
Press Release: www.fdic.gov/news/news/press/2013/pr13021.html
Press Release: www.occ.gov/news-issuances/news-releases/2013/nr-ia-2013-50.html

March 21, 2013 - Federal Reserve Board announces termination of enforcement actions with Bank of Bartlett, Bank of Little Rock, and Pembina County Bankshares, Ltd. www.federalreserve.gov/newsevents/press/enforcement/20130321a.htm
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March 20, 2013 - Comptroller Discusses Community Reinvestment - Comptroller of the Currency Thomas J. Curry today discussed the Community Reinvestment Act during a speech before the National Community Reinvestment Coalition. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-49.html

March 20, 2013 - OCC Reports Fourth Quarter 2012 Trading Revenue of $4.4 Billion - The Office of the Comptroller of the Currency reported today that insured U.S. commercial banks and savings institutions reported trading revenue of $4.4 billion in the fourth quarter of 2012, down $908 million, or 17 percent, from $5.3 billion in the third quarter, but $1.8 billion, or 73 percent, higher than in the fourth quarter of 2011. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-48.html
 
March 20, 2013 - Federal Reserve issues FOMC statement - Information received since the Federal Open Market Committee met in January suggests a return to moderate economic growth following a pause late last year. Labor market conditions have shown signs of improvement in recent months but the unemployment rate remains elevated. www.federalreserve.gov/newsevents/press/monetary/20130320a.htm

March 20, 2013 - Federal Reserve Board and Federal Open Market Committee release economic projections from the March 19-20 FOMC - The attached table and charts released on Wednesday summarize the economic projections and the target federal funds rate projections made by Federal Reserve Board members and Federal Reserve Bank presidents for the March 19-20 meeting of the Federal Open Market Committee.
meeting www.federalreserve.gov/newsevents/press/monetary/20130320b.htm

March 20, 2013 - NCUA - Kinecta Absorbs I.C.E. Federal Credit Union - Former members of I.C.E. Federal Credit Union will again have access to a credit union under a purchase and assumption agreement with Kinecta Federal Credit Union of Manhattan Beach, Calif., the National Credit Union Administration announced today. www.ncua.gov/News/Pages/NW20130320Kinecta.aspx

March 19, 2013 - NCUA - March Economic Update Video Available on YouTube - The National Credit Union Administration (NCUA) released the latest edition of the agency’s economic update today. www.ncua.gov/News/Pages/NW20130319EconVideo.aspx

March 19, 2013 - NCUA Hosting Fair Lending Webinar - The National Credit Union Administration will host a free webinar, “Fair Lending Examination Program and Compliance Assistance,” Thursday, April 4, 2013, beginning at 1 p.m. Eastern. www.ncua.gov/News/Pages/NW20130319FairLendingWebinar.aspx 

March 19, 2013 - Federal Reserve Board issues enforcement action with Devon Bancorp, Inc., and announces termination of enforcement action with Bank VI.   www.federalreserve.gov/newsevents/press/enforcement/20130319a.htm

March 18, 2013 - Appraisal Requirements for Higher-Priced Mortgage Loans and Resources Regarding Other CFPB Mortgage-Related Rulemakings - On January 18, 2013, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, the National Credit Union Administration, the Office of the Comptroller of the Currency, the Federal Housing Finance Agency, and the Consumer Financial Protection Bureau issued a final rule that establishes new appraisal requirements for higher-priced mortgage loans. www.fdic.gov/news/news/financial/2013/fil13011.html

March 18, 2013 - Agencies release proposed revisions to Interagency Questions and Answers Regarding Community Reinvestment. 
Press release: www.federalreserve.gov/newsevents/press/bcreg/20130318a.htm
Press release: www.fdic.gov/news/news/press/2013/pr13020.html
Press Release: www.occ.gov/news-issuances/news-releases/2013/nr-ia-2013-47.html

March 15, 2013 - NCUA - Pepsi Cola Federal Credit Union Closes - The National Credit Union Administration today liquidated Pepsi Cola Federal Credit Union of Buena Park, Calif. NCUA made the decision to liquidate Pepsi Cola Federal Credit Union and discontinue operations after determining the credit union was insolvent and had no prospect for restoring viable operations. www.ncua.gov/News/Pages/NW20130315PepsiFCU.aspx

March 15, 2013 - NCUA - I.C.E. Federal Credit Union Closes - The National Credit Union Administration today liquidated I.C.E. Federal Credit Union of Inglewood, Calif. NCUA made the decision to liquidate I.C.E. Federal Credit Union and discontinue operations after determining the credit union was insolvent and had no prospect for restoring viable operations. www.ncua.gov/News/Pages/NW20130315ICEFCU.aspx

March 15, 2013 - 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/2013/nr-occ-2013-46.html

March 15, 2013 - OCC Testifies on JPMC Derivatives Trading Before U.S. Senate - Officials from the Office of the Comptroller of the Currency today testified on the OCC’s oversight of JPMC as it relates to the bank’s $6 billion in trading losses from its credit derivatives trades in its Chief Investment Office during a hearing held today by the U.S. Senate Permanent Subcommittee on Investigations. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-45.html

March 15, 2013 - OCC Proposes Reporting Requirements for Annual Stress Test for Covered Institutions with Consolidated Assets of $10 Billion to $50 Billion - The Office of the Comptroller of the Currency today published a notice of proposed information collection in the Federal Register seeking comment on annual stress test reporting. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-44.html

March 15, 2013 - Recent balance sheet trends, weekly chart data update - Credit and Liquidity Programs and the Balance Sheet.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

March 15, 2013 - Federal Reserve System publishes annual financial statements - The Federal Reserve System on Friday released the 2012 combined annual financial statements for the Federal Reserve Banks, as well as for the 12 individual Federal Reserve Banks, the consolidated variable interest entities 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/20130315a.htm _______________________

March 14, 2013 - Comptroller of the Currency Discusses Community Bank Supervision - Comptroller of the Currency Thomas J. Curry today discussed community bank supervision during a speech before attendees of the Independent Community Bankers of America Annual Convention. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-43.html 

March 14, 2013 - FDIC Announces Upcoming Community Affairs Webinar: Opportunities for Community Banks – Federal Guarantee Programs that Support Export Lending to Small Business - The FDIC's Division of Depositor and Consumer Protection Community Affairs Branch will host a webinar titled, Opportunities for Community Banks – Federal Guarantee Programs that Support Export Lending to Small Business, which will introduce institutions to federal guarantee programs that support export lending.  www.fdic.gov/news/news/financial/2013/fil13010.html

March 14, 2013 - FDIC Consumer Newsletter Features Tips on Protecting Your Money - Also addresses key questions and misconceptions - The FDIC receives thousands of calls, letters and e-mails each year from consumers who have a question or concern relating to a loan, deposit or other banking product.   www.fdic.gov/news/news/press/2013/pr13019.html

March 14, 2013 - Federal Reserve Board announces termination of enforcement action with Mountain West Financial Corp. www.federalreserve.gov/newsevents/press/enforcement/20130313a.htm

March 14, 2013 - Federal Reserve announces results of Comprehensive Capital Analysis and Review - The Federal Reserve on Thursday announced it has approved the capital plans of 14 financial institutions in the Comprehensive Capital Analysis and Review.  www.federalreserve.gov/newsevents/press/bcreg/20130314a.htm

March 14, 2013 - Little Rock Burgundy Book: Regional Economy Improves At Modest Pace. www.stlouisfed.org/newsroom/displayNews.cfm?article=1701

March 14, 2013 - Louisville Burgundy Book: Regional Economy Shows Moderate Gains.  www.stlouisfed.org/newsroom/displayNews.cfm?article=1703

March 14, 2013 - Memphis Burgundy Book: Business Contacts Expect Little Change in Local Conditions During Next Three Months.  www.stlouisfed.org/newsroom/displayNews.cfm?article=1704

March 14, 2013 - St. Louis Burgundy Book: Majority of Business Contacts Expect Local Business Conditions To Improve During 2013.  www.stlouisfed.org/newsroom/displayNews.cfm?article=1702

March 14, 2013 - NCUA - Streamlined Fixed Assets Rule Proposed - NCUA Board Also Approves Community Charter for Cinfed Federal Credit Union-The National Credit Union Administration Board convened its third scheduled open meeting of 2013 at the agency’s headquarters here today. Board members unanimously approved two items: www.ncua.gov/about/Pages/Board%20Actions/BAB20130314.aspx

March 13, 2013 - Regional Home Ownership Preservation Initiative Focus on Affordable Rental Housing - In a blog posting, the Chicago Fed’s Community Development and Policy Studies division highlights presentations from a January 30, 2013, conference that outlined next steps in managing the foreclosure crisis. http://cdps.chicagofedblogs.org/?p=832

March 13, 2013 - What Do U.S. Life Insurers Invest In? - Chicago Fed Letter examines life insurers’ invested assets and the potential impact of a large negative shock to asset values. www.chicagofed.org/digital_assets/publications/chicago_fed_letter/2013/cflapril2013_309.pdf

March 13, 2013 - NCUA Hosting Webinar on Examination Focus for 2013 - The National Credit Union Administration is hosting a free webinar, “Examination Issues for 2013,” on Wednesday, March 27, at 2 p.m. Eastern. www.ncua.gov/News/Pages/NW20130313ExamWebinar.aspx

March 13, 2013 - Bank Holding Company Supervision Manual - Provides guidance for conducting inspections of bank holding companies and their nonbank subsidiaries. The supervisory objectives of the inspection program are to ascertain whether the financial strength of the bank holding company is being maintained on an ongoing basis and to determine the effects or consequences of transactions between a holding company or its nonbanking subsidiaries and its subsidiary banks. www.federalreserve.gov/boarddocs/supmanual/supervision_bhc.htm

March 13, 2013 - Statistical Release -Household Debt Service and Financial Obligations Ratios - The household debt service ratio is an estimate of the ratio of debt payments to disposable personal income. Debt payments consist of the estimated required payments on outstanding mortgage and consumer debt. www.federalreserve.gov/releases/housedebt/default.htm

March 13, 2013 - Regulation II - Updated Frequently Asked Questions.  www.federalreserve.gov/paymentsystems/regii-faqs.htm

March 13, 2013 - Federal Reserve announces time changes for FOMC statements and news conferences - The Federal Reserve announced on Wednesday that, to better facilitate the release of information in conjunction with the Chairman's quarterly news conferences, the time between the release of the Federal Open Market Committee's statement and the beginning of the news conference is being reduced. www.federalreserve.gov/newsevents/press/monetary/20130313a.htm

March 12, 2013 - St. Louis Fed Supports Bank-On Save-Up Initiative - Organizers have launched Bank-On Save-Up St. Louis, a community-based financial education and public awareness campaign that has set a goal to open 20,000 bank accounts for currently unbanked residents in the metropolitan St. Louis area, and to maintain 80 percent of those accounts through 2015.
www.stlouisfed.org/newsroom/displayNews.cfm?article=1697

March 12, 2013 - 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 11, 2013 - NCUA Webinar with CFPB Director Cordray Now Available Online - NCUA Board Chairman Debbie Matz’s recent virtual town hall webinar with Consumer Financial Protection Bureau Director Richard Cordray is now available online, the agency announced today. www.ncua.gov/News/Pages/NW20130311Feb5Webinar.aspx

March 11, 2013 - The NCUA Report for March 2013 Now Available - The NCUA Report is NCUA’s flagship publication that highlights important NCUA Board actions and key issues that credit union volunteers and management need to know. It is a one-stop resource to learn not just the “what” but also the “why” behind NCUA’s actions. www.ncuareport.org/ncuareport/201303#pg1

March 11, 2013 - Regulatory Reform - Communications with the public through March 11, 2013.  www.federalreserve.gov/newsevents/reform_meetings.htm

March 8, 2013 - Governor Elizabeth A. Duke - Comments on Housing and Mortgage Markets - At the Mortgage Bankers Association Mid-Winter Housing Finance Conference, Avon, Colorado.   www.federalreserve.gov/newsevents/speech/duke20130308a.htm

March 8, 2013 - HeritageBank of the South, Albany, Georgia, Assumes All of the Deposits of Frontier Bank, LaGrange, Georgia - Frontier Bank, LaGrange, 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 HeritageBank of the South, Albany, Georgia, to assume all of the deposits of Frontier Bank. www.fdic.gov/news/news/press/2013/pr13018.html

March 8, 2013 - NCUA Announces 2013 Credit Union Workshops Schedule - The National Credit Union Administration announced today that it will hold the first of 15 free training workshops for credit unions on March 22, 2013, at the Double Tree Hotel Richmond Airport in Richmond, Va. www.ncua.gov/News/Pages/NW20130308WorkshopsSchedules.aspx

March 8, 2013 - Office of the Comptroller of the Currency Hosts Workshops in Philadelphia - The Office of the Comptroller of the Currency will host two workshops in Philadelphia at the Sheraton Philadelphia – Downtown, April 16-17, for directors of national community banks and federal savings associations. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-42.html

March 8, 2013 - Payment Systems - Yearly and quarterly updates to Currency in Circulation: Value, Currency in Circulation: Volume, Calendar-Year Print Order: Volume and Value, Federal Reserve Expenses for Cash Operations, Cost of New Currency, $1 Coin Quarterly Inventories, Payments, and Receipts.  www.federalreserve.gov/paymentsystems/coin_data.htm

March 8, 2013 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.  www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm ______________________________

March 7, 2013 - Comptroller Testifies on Bank Secrecy Act/Anti-Money Laundering Compliance - Comptroller of the Currency Thomas J. Curry today testified before the U.S. Senate Committee on Banking, Housing, & Urban Affairs on Bank Secrecy Act and Anti-Money Laundering compliance programs at U.S. financial institutions and the role the OCC plays in examining financial institutions for compliance in this area. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-41.html

March 7, 2013 - Statistical Release - Consumer Credit--G.19.  www.federalreserve.gov/releases/g19/Current/

March 7, 2013 - Statistical Release - Flow of Funds Accounts of the United States--Z.1.  www.federalreserve.gov/releases/z1/Current/

March 7, 2013 - Governor Jerome H. Powell - Anti-Money Laundering and the Bank Secrecy Act - Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate, Washington, D.C. www.federalreserve.gov/newsevents/testimony/powell20130307a.htm

March 7, 2013 - Federal Reserve releases summary results of bank stress tests - The nation's largest bank holding companies have continued to improve their ability to withstand an extremely adverse hypothetical economic scenario and are collectively in a much stronger capital position than before the financial crisis, according to the summary results of bank stress tests announced by the Federal Reserve on Thursday. www.federalreserve.gov/newsevents/press/bcreg/20130307a.htm

March 6, 2013 - Update on Financial Conditions -The NFCI continues to hover near its lowest level since June 2007. www.chicagofed.org/webpages/research/data/nfci/background.cfm

March 6, 2013 - Federal Reserve Releases March Beige Book and Related Sound Clip - Audio highlights of the Federal Reserve's Beige Book, which summarize economic conditions for the United States as a whole and the Fed's Eighth District, are available for downloading. www.stlouisfed.org/newsroom/displayNews.cfm?article=1691

March 6, 2013 - Beige Book - Informal review by the Federal Reserve Banks of current economic conditions in their Districts.   www.federalreserve.gov/monetarypolicy/beigebook/default.htm

March 5, 2013 - NCUA: State Data Show Diverse Results for Credit Unions, Overall Growth Continues - The fourth quarter of 2012 was marked by growth in federal credit unions’ assets and loans, according to the latest Quarterly U.S. Map Review released today by the National Credit Union Administration.   www.ncua.gov/News/Pages/NW20130305MapReview.aspx

March 5, 2013 - Office of the Comptroller of the Currency Hosts Workshop in Illinois - The Office of the Comptroller of the Currency will host a workshop in Lisle, Ill., at the Wyndham Lisle – Chicago Hotel, April 8-10, for directors of national community banks and federal savings associations. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-40.html

March 5, 2013 - Kansas City Fed announces advisory council appointments - The Federal Reserve Bank of Kansas City recently announced the following appointments to its Community Depository Institutions Advisory Council.  www.kc.frb.org/publicat/newsroom/2013pdf/press.release.03.05.13.pdf

March 5, 2013 - 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/2013/pr13017.html

March 5, 2013 - Federal Reserve Board publishes report containing summary information on debit card transactions in 2011 - The Federal Reserve Board on Tuesday published a report containing summary information on the volume and value, interchange fee revenue, certain debit card issuer costs, and fraud losses related to debit card transactions in 2011.  www.federalreserve.gov/newsevents/press/bcreg/20130305a.htm

March 4, 2013 - Income Growth Expectations During the Great Recession - Economic Perspectives article finds expectations have yet to recover to pre-recession levels and are a strong predictor of actual future income and consumption growth. www.chicagofed.org/digital_assets/publications/economic_perspectives/2013/1Q2013_part2_french_kelley_qi.pdf

March 4, 2013 - NCUA - Visit NCUA’s Refreshed Consumer Websites for “Practical Tips to Avoid Financial Traps” - With National Consumer Protection Week now under way, National Credit Union Administration (NCUA) Board Chairman Debbie Matz today reminded credit unions members and consumers to use NCUA’s many online resources to learn more about avoiding scams and protecting their financial well-being. www.ncua.gov/News/Pages/NW20130304NCPWeek.aspx

March 4, 2013 - Comptroller Speaks to the Institute of International Bankers - Comptroller of the Currency Thomas J. Curry today spoke about operational risk during a speech at the annual conference of the Institute of International Bankers held in Washington, D.C. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-39.html

March 4, 2013 - Regulatory Reform - Communications with the public through March 4, 2013.  www.federalreserve.gov/newsevents/reform_meetings.htm

March 4, 2013 - Governor Jerome H. Powell - Ending "Too Big to Fail" - At the Institute of International Bankers 2013 Washington Conference, Washington, D.C. www.federalreserve.gov/newsevents/speech/powell20130304a.htm

March 4, 2013 - Vice Chair Janet L. Yellen - Challenges Confronting Monetary Policy - At the 2013 National Association for Business Economics Policy Conference, Washington, D.C. www.federalreserve.gov/newsevents/speech/yellen20130302a.htm

March 1, 2013 - Fed’s Evans Addresses Financial Analysts - Chicago Fed President Charles Evans spoke to the CFA Society of Iowa February 28 about monetary policy during their annual investment strategy dinner in Des Moines. www.chicagofed.org/webpages/publications/speeches/2013/02_28_13_cfa_desmoines.cfm

March 1, 2013 - NCUA - Credit Unions’ Earnings Hit All-Time High - Earnings of $8.5 billion, the highest figure ever for the credit union industry, were among the highlights of a strong year for federally insured credit unions in 2012, the National Credit Union Administration reported today. www.ncua.gov/News/Pages/NW20130301CUEarnings.aspx

March 1, 2013 - OCC Releases CRA Evaluations for 34 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 1, 2013 through February 28, 2013. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-38.html

March 1, 2013 - OCC Issues Second Quarter 2013 CRA Examination Schedule - The Office of the Comptroller of the Currency today released its schedule of Community Reinvestment Act examinations to be conducted in the second quarter of 2013. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-37.html

March 1, 2013 - Notice of Proposed Rulemaking: Definition of Insured Deposit - The FDIC has published in the Federal Register a Notice of Proposed Rulemaking to clarify that deposits in foreign branches of U.S. banks are not eligible for deposit insurance, although they may qualify as deposits for the purpose of national depositor preference. Comments on the proposed rule are due no later than April 22, 2013. www.fdic.gov/news/news/financial/2013/fil13007.html
 
March 1, 2013 - FDIC Features Consumer Tips on Hot Topics for National Consumer Protection Week - In the last few years, there have been major changes in the way consumers handle their banking and other financial transactions. As a result of new laws and regulations and advancements in technology, it's important for consumers to have as much information as possible to effectively manage their money and avoid scams. www.fdic.gov/news/news/press/2013/pr13016.html

March 1, 2013 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm