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

FYI - Don't forget to follow me on LinkedIn at https://www.linkedin.com/in/yennik where I post a weekly question on IT and cybersecurity auditing.

March 31, 2015 - Midwest Economic Growth Steady in February -The Midwest Economy Index was unchanged at +0.49 in February. www.chicagofed.org/~/media/publications/mei/2015/mei-february2015-pdf.pdf?la=en

March 31, 2015 - NCUA - North Dade Community Development Federal Credit Union Closes - Member Deposits Protected up to $250,000 by Share Insurance Fund - The National Credit Union Administration today liquidated North Dade Community Development Federal Credit Union of Miami Gardens, Florida. www.ncua.gov/News/Pages/NW20150331Liquidation.aspx

March 31, 2015 - NCUA Posts New Economic Update - Latest Video Discusses Economic Outlook for 2015 and Looming Risk - The economic growth outlook for 2015 looks solid, but is less optimistic than a few months ago and oil producing regions may experience rising unemployment, according to a new Economic Update video released today by the National Credit Union Administration.  www.ncua.gov/News/Pages/NW20150331EconUpdate.aspx

March 31, 2015 - NCUA Issues Prohibition Orders - The National Credit Union Administration has issued seven orders in March prohibiting the following individuals from participating in the affairs of any federally insured financial institution: www.ncua.gov/News/Pages/NW20150331Orders.aspx

March 31, 2015 - Jacqueline D. Reses joins Federal Reserve Bank of San Francisco’s Economic Advisory Council - Jacqueline D. Reses - The Federal Reserve Bank of San Francisco announced that Jacqueline D. Reses, chief development officer for Yahoo, was appointed a member of the Federal Reserve Bank of San Francisco’s Economic Advisory Council. www.frbsf.org/our-district/press/news-releases/2015/jacqueline-d-reses-economic-advisory-council/

March 31, 2015 - Large Capital Inflows, Sectoral Allocation, and Economic Performance - Gianluca Benigno, Nathan Converse, and Luca Fornaro - This paper describes the stylized facts characterizing periods of exceptionally large capital inflows in a sample of 70 middle- and high-income countries over the last 35 years.  www.federalreserve.gov/econresdata/ifdp/2015/index.htm#1 

March 31, 2015 - Regulatory Reform - Discount Window Lending Data, First Quarter 2013 - The discount window helps to relieve liquidity strains for individual depository institutions and for the banking system as a whole by providing a reliable backup source of funding.   www.federalreserve.gov/newsevents/reform_discount_window.htm 

March 31, 2015 - Reports to the Congress - Report to the Congress on the Office of Minority and Women Inclusion, March 2015.   www.federalreserve.gov/publications/other-reports/default.htm

March 31, 2015 - Agencies Permit Wells Fargo to Begin Using Advanced Approaches Framework to Determine Risk-Based Capital Requirements - The Federal Reserve Board and the Office of the Comptroller of the Currency today announced that they have permitted Wells Fargo and its subsidiary national banks to begin using the "advanced approaches" capital framework starting in the second quarter of 2015.
Press release: www.federalreserve.gov/newsevents/press/bcreg/20150331a.htm
Press release: www.occ.gov/news-issuances/news-releases/2015/nr-ia-2015-47.html

March 31, 2015 - Federal Reserve announces termination of enforcement actions with Coast Bancorp, Prairie Star Bancshares, Inc., and Universal Financial, Inc.  www.federalreserve.gov/newsevents/press/enforcement/enf20150331.htm

March 30, 2015 - Vice Chairman Stanley Fischer - Nonbank Financial Intermediation, Financial Stability, and the Road Forward - At the "Central Banking in the Shadows: Monetary Policy and Financial Stability Postcrisis," 20th Annual Financial Markets Conference sponsored by the Federal Reserve Bank of Atlanta, Stone Mountain, Georgia.  www.federalreserve.gov/newsevents/speech/fischer20150330a.htm

March 30, 2015 - Matz: Credit Unions Should Educate Members during Financial Literacy Month - ?NCUA to Offer Webinar, Twitter Chat and New Online Resources for ConsumersApril is National Financial Literacy Month, and National Credit Union Administration Board Chairman Debbie Matz urged credit unions to take this opportunity to help members learn to manage and protect their finances. www.ncua.gov/News/Pages/NW20150330FinancialLiteracy.aspx

March 30, 2015 - FFIEC Joint Statements on Destructive Malware and Compromised Credentials - The Federal Financial Institutions Examination Council has issued two joint statements to alert financial institutions to specific risk mitigation techniques related to destructive malware and cyber attacks that compromise credentials.
Press Release: www.fdic.gov/news/news/financial/2015/fil15013.html
Press Release: www.ffiec.gov/press/pr033015.htm
Bulletin:  http://www.occ.treas.gov/news-issuances/bulletins/2015/bulletin-2015-20.html
Bulletin:  http://www.occ.treas.gov/news-issuances/bulletins/2015/bulletin-2015-19.html
Financial Institution Letters: https://www.fdic.gov/news/news/financial/2015/fil15013.html

March 30, 2015 - Credit and Liquidity Programs and the Balance Sheet - Quarterly Report on Federal Reserve Balance Sheet Developments, March 2015.   www.federalreserve.gov/files/quarterly_balance_sheet_developments_report_201503.pdf

March 30, 2015 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at 11:00 AM on March 30, 2015, under expedited procedures.   www.federalreserve.gov/aboutthefed/boardmeetings/20150330exp.htm

March 27, 2015 - Mortgage Performance Improved During the Fourth Quarter of 2014 - The performance of first-lien mortgages serviced by eight national banks improved in the fourth quarter of 2014, according to the Office of the Comptroller of the Currency’s quarterly report on mortgage performance.
www.occ.gov/news-issuances/news-releases/2015/nr-occ-2015-46.html

March 27, 2015 - Comptroller of the Currency Discusses Efforts to Protect Seniors from Financial Abuse - Comptroller of the Currency Thomas Curry today discussed efforts to protect seniors from financial exploitation. His remarks came during a conference hosted by the National Community Reinvestment Coalition. www.occ.gov/news-issuances/news-releases/2015/nr-occ-2015-45.html

March 27, 2015 - Regulatory Capital Rules: Accumulated Other Comprehensive Income Opt-Out Election - The FDIC is issuing this Financial Institution Letter as a reminder to FDIC-supervised institutions not subject to the advanced approaches risk-based capital rules that they may elect to calculate regulatory capital using the treatment for accumulated other comprehensive income permitted in the FDIC's general regulatory capital rules in effect prior to January 1, 2015. www.fdic.gov/news/news/financial/2015/fil15012.html

March 27, 2015 - FDIC Makes Public February Enforcement Actions; - No Administrative Hearings Scheduled for April 2015 - The Federal Deposit Insurance Corporation today released a list of orders of administrative enforcement actions taken against banks and individuals in February.   www.fdic.gov/news/news/press/2015/pr15029.html

March 27, 2015 - Letter to Robert D. Klingler granting a request by EJF Capital LLC, Arlington, Virginia, for relief from a commitment it made to the Board in connection with its acquisition of securities that were issued by Flagstar Bancorp, Inc., Troy, Michigan, to the Department of the Treasury as part of the Troubled Asset Relief Program's Capital Purchase Program. www.federalreserve.gov/bankinforeg/LegalInterpretations/bhc_changeincontrol20140327a1.pdf

March 27, 2015 - Wealth, Pensions, Debt, and Savings: Considerations for a Panel Survey - Brian K. Bucks and Karen M. Pence - Several U.S. panel surveys measure household wealth. At the same time, many important questions about household wealth accumulation remain somewhat unresolved.   www.federalreserve.gov/econresdata/feds/2015/files/2015019pap.pdf

March 27, 2015 - Chair Janet L. Yellen - Normalizing Monetary Policy: Prospects and Perspectives - At the "The New Normal Monetary Policy," a research conference sponsored by the Federal Reserve Bank of San Francisco, San Francisco, California www.federalreserve.gov/newsevents/speech/yellen20150327a.htm

March 27, 2015 - Vice Chairman Stanley Fischer - The Importance of the Nonbank Financial Sector - At the "Debt and Financial Stability--Regulatory Challenges" conference, the Bundesbank and the German Ministry of Finance, Frankfurt, Germany.   www.federalreserve.gov/newsevents/speech/fischer20150327a.htm
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March 27, 2015 - FDIC Makes Public February Enforcement Actions - 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 2015. https://www.fdic.gov/news/news/press/2015/pr15029.html

March 26, 2015 - St. Louis Fed's Bullard Discusses U.S. Monetary Policy Normalization - Federal Reserve Bank of St. Louis President James Bullard discussed “U.S. Monetary Policy Normalization” at the Official Monetary and Financial Institutions Forum’s City Lecture on Thursday. www.stlouisfed.org/news-releases/2015/03/26/st-louis-feds-bullard-discusses-us-monetary-policy-normalization

March 26, 2015 - Financial Market Stress Declines Slightly - Financial market stress declined slightly last week, according to the St. Louis Fed Financial Stress Index. For the week ending March 20, 2015, the STLFSI measured -1.027, down from the prior week’s revised value of -1.012. www.stlouisfed.org/news-releases/2015/03/26/financial-market-stress-declines-slightly

March 26, 2015 - Yellen, Stiglitz to Speak about Economic Mobility at the Fed's Community Development Research Conference April 2-3 in Washington, D.C. - Janet L. Yellen, the chair of the Board of Governors of the Federal Reserve System, and Joseph E. Stiglitz, professor of economics at Columbia University, will be the featured speakers at the ninth biennial Federal Reserve System Community Development Research Conference April 2-3 in Washington, D.C. www.stlouisfed.org/news-releases/2015/03/26/economic-mobility-at-fed-community-development-research-conference

March 26, 2015 - Federal Reserve survey provides information on mobile financial services - The use of mobile phones to access bank accounts, credit cards, or other financial accounts continued to increase among adults in the United States last year, according to a Federal Reserve Board report, Consumers and Mobile Financial Services 2015.  www.federalreserve.gov/newsevents/press/other/20150326a.htm

March 26, 2015 - Statistical Release - Minority Owned Bank Report - MINORITY OWNED FINANCIAL INSTITUTIONS and THEIR BRANCHES as of September 30, 2014.  www.federalreserve.gov/releases/mob/current/default.htm

March 26, 2015 - Statistical Release- Large Commercial Bank Report - The Federal Reserve Board compiles quarterly data on domestically chartered insured commercial banks that have consolidated assets of $300 million or more and releases the data about twelve weeks after the end of each quarter. www.federalreserve.gov/releases/lbr/

March 26, 2015 - Agencies Adjust Resolution Plan Filing Deadline for Nonbank Financial Institutions - The Federal Reserve Board and the Federal Deposit Insurance Corporation on Thursday permanently adjusted the annual resolution plan filing deadline for American International Group, Inc., General Electric Capital Corporation, Inc., MetLife Inc., and Prudential Financial, Inc., from July 1 to December 31 beginning in 2016.
Press Release: www.federalreserve.gov/newsevents/press/bcreg/20150326a.htm
Press Release: www.fdic.gov/news/news/press/2015/pr15028.html

March 26, 2015 - Federal Reserve Board announces termination of enforcement action with Ocean Bankshares, Inc.   www.federalreserve.gov/newsevents/press/enforcement/20150326a.htm

March 25, 2015 - Fed's Evans Addresses Official Monetary and Financial Institutions Forum - President Charles Evans talked about risk management and monetary policy on March 25, during the Official Monetary and Financial Institutions Forum in London. www.chicagofed.org/publications/speeches/2015/03-25-2015-risk-manangement-uncertain-world-charles-evans-london

March 25, 2015 - The Effect of Winter Weather on U.S. Economic Activity - Justin Bloesch, François Gourio - The authors’ findings support the view that weather has a significant, but short-lived, effect on economic activity.  www.chicagofed.org/~/media/publications/economic-perspectives/2015/1q2015-part1-bloesch-gourio-pdf.pdf

March 25, 2015 - NCUA Warns Consumers about “Spoofing” Scam Mimicking Agency’s Telephone - The National Credit Union Administration is alerting consumers that texts they receive from an agency telephone line, 703-518-6301, asking for personal information are not coming from NCUA. www.ncua.gov/News/Pages/NW20150325SpoofingScam.aspx

March 25, 2015 - OCC Hosts Risk Governance and Compliance Workshops in Kentucky - The Office of the Comptroller of the Currency will host two workshops in Louisville, Ky.,at the Louisville Marriott East, May 5-6, for directors of national community banks and federal savings associations. www.occ.gov/news-issuances/news-releases/2015/nr-occ-2015-44.html

March 25, 2015 - Banking panics and deflation in dynamic general equilibrium - Francesca Carapella - This paper develops a framework to study the interaction between banking, price dynamics, and monetary policy. Deposit contracts are written in nominal terms: if prices unexpectedly fall, the real value of banks' existing obligations increases.  www.federalreserve.gov/econresdata/feds/2015/files/2015018pap.pdf

March 24, 2015 - Economic Growth Slightly Below Average in February - The Chicago Fed National Activity Index was -0.11 in February, down slightly from -0.10 in January. www.chicagofed.org/~/media/publications/cfnai/2015/cfnai-march2015-pdf.pdf?la=en

March 24, 2015 - NCUA to Host Grant Initiatives Webinar - ?Learn about the Grant Process and How Credit Unions Use Grants to Assist Members -Credit unions interested in applying for the next round of grants from the National Credit Union Administration can get important information during an agency webinar, “NCUA 2015 Grant and Loan Opportunities,” scheduled for Wednesday, April 15, beginning at 2 p.m. Eastern. www.ncua.gov/News/Pages/NW20150324GrantWebinar.aspx

March 24, 2015 -NCUA Chairman Matz Town Hall Webinar with CFPB Director Cordray Now Online - The Feb. 10 town hall webinar hosted by National Credit Union Administration Board Chairman Debbie Matz and featuring Richard Cordray, Director of the Consumer Financial Protection Bureau, is now available online, the agency announced today. www.ncua.gov/News/Pages/NW20150324TownHallWebinar.aspx 

March 24, 2015 - Louisville Burgundy Book: Robust Transportation and Manufacturing Buoy Rising Economic Optimism - A February survey of business contacts in the Louisville Zone of the Federal Reserve Bank of St. Louis revealed improving economic optimism, with nearly three-quarters of respondents expecting local economic conditions to be better in 2015 than the previous year.  www.stlouisfed.org/news-releases/2015/03/24/march-2015-burgundy-book-louisville

March 24, 2015 - St. Louis Burgundy Book: Surging Missouri Exports Fuel Gains in Durable-Goods Manufacturing Employment - A February survey of business contacts in the St. Louis Zone of the Federal Reserve Bank of St. Louis revealed continued optimism about the outlook for local economic conditions in 2015. In fact, only one in 10 respondents expects conditions to worsen in 2015. www.stlouisfed.org/news-releases/2015/03/24/march-2015-burgundy-book-st-louis 

March 24, 2015 - Little Rock Burgundy Book: Brisk Growth in Export and Manufacturing Employment - A February survey of business contacts in the Little Rock Zone of the Federal Reserve Bank of St. Louis revealed improving optimism for the second consecutive quarter.   www.stlouisfed.org/news-releases/2015/03/24/march-2015-burgundy-book-little-rock

March 24, 2015 - Memphis Burgundy Book: Transportation Employment Enjoys Strongest Growth in Three Years - A February survey of business contacts in the Memphis Zone of the Federal Reserve Bank of St. Louis revealed improving optimism compared with three months earlier. In fact, some contacts reported signs of building wage pressures. www.stlouisfed.org/news-releases/2015/03/24/march-2015-burgundy-book-memphis

March 24, 2015 - The Federal Reserve's Overnight and Term Reverse Repurchase Agreement Operations in the Financial Accounts of the United States - Ralf R. Meisenzahl1 - This note explains how the Federal Reserve's overnight and term reverse repurchase agreement (RRP) operations are reported in the Federal Reserve's Financial Accounts of the United States www.federalreserve.gov/econresdata/notes/feds-notes/2015/federal-reserves-overnight-and-term-rrp-agreement-operations-in-financial-accounts-of-the-united-states-20150324.html

March 23, 2015 - Crowding Out Effects of Refinancing on New Purchase Mortgages - Steve A. Sharpe and Shane M. Sherlund - We present evidence that binding mortgage processing capacity constraints reduce mortgage originations to borrowers of low to modest credit quality.  http://www.federalreserve.gov/econresdata/feds/2015/files/2015017pap.pdf

March 23, 2015 - NCUA - Dorris Selected as NCUA’s Chief Information Officer - National Credit Union Administration Board Chairman Debbie Matz has announced the selection of Edward Dorris as the agency’s Chief Information Officer. www.ncua.gov/News/Pages/NW20150323CIODorris.aspx

March 23, 2015 - Comptroller of the Currency Discusses Agenda to Assist Mutual Savings Association and Community Banks - Comptroller of the Currency Thomas Curry today discussed efforts by the Office of the Comptroller of the Currency to assist mutual savings associations and community banks.  www.occ.gov/news-issuances/news-releases/2015/nr-occ-2015-43.html

March 23, 2015 - OCC Hosts Minority Depository Institutions Advisory Committee Meeting - The Office of the Comptroller of the Currency today announced it will host a public meeting of the Minority Depository Institutions Advisory Committee on Tuesday, April 7, 2015, beginning at 8:30 a.m. Eastern Daylight Time. www.occ.gov/news-issuances/news-releases/2015/nr-occ-2015-42.html

March 23, 2015 - Media Advisory - St. Louis Fed President James Bullard Will Speak at OMFIF Public Lecture in Frankfurt - U.S. Economy and Monetary Policy.  www.stlouisfed.org/news-releases/2015/03/23/media-advisory-st-louis-fed-president-james-bullard-will-speak-at-omfif-public-lecture-in-frankfurt

March 23, 2015 - Regulatory Capital Rules: Accumulated Other Comprehensive Income Opt-Out Election - The FDIC is issuing this Financial Institution Letter as a reminder to FDIC-supervised institutions not subject to the advanced approaches risk-based capital rules that they may elect to calculate regulatory capital using the treatment for accumulated other comprehensive income permitted in the FDIC's general regulatory capital rules in effect prior to January 1, 2015. www.fdic.gov/news/news/financial/2015/fil15012.html

March 23, 2015 - Crowding Out Effects of Refinancing on New Purchase Mortgages - Steve A. Sharpe and Shane M. Sherlund - We present evidence that binding mortgage processing capacity constraints reduce mortgage originations to borrowers of low to modest credit quality.  www.federalreserve.gov/econresdata/feds/2015/index.htm#1

March 23, 2015 - Vice Chairman Stanley Fischer - Monetary Policy Lessons and the Way Ahead - At the Economic Club of New York, New York, New York.  www.federalreserve.gov/newsevents/speech/fischer20150323a.htm

March 23, 2015 - Agencies Provide Feedback on Resolution Plans of Three Foreign Banking Organizations - Firms Required to Address Shortcomings in 2015 Submissions - The Federal Reserve Board and the Federal Deposit Insurance Corporation on Monday announced that they had completed the reviews of resolution plans submitted in 2014 by three large, foreign banking organizations and had issued feedback letters to each institution.
Press Release: http://www.federalreserve.gov/newsevents/press/bcreg/20150323a.htm
Press Release: www.fdic.gov/news/news/press/2015/pr15027.html

March 23, 2015 - Federal Reserve Board announces approval of application by KSRS - The Federal Reserve Board on Monday announced its approval of the application under section 3 of the Bank Holding Company Act by KSRS, LLC, Osceola, to become a bank holding company by retaining control of Bancorp II, Inc., Kansas City, and thereby indirectly retaining control of its subsidiary bank, Citizens Community Bank, Pilot Grove, all of Missouri. www.federalreserve.gov/newsevents/press/orders/20150323a.htm

March 20, 2015 - Financial Statement Now Available - The audited annual financial statement for 2014 for the Federal Reserve Bank of Chicago is now online. www.federalreserve.gov/monetarypolicy/files/BSTChicagofinstmt2014.pdf

March 20, 2015 - Risk Management for Monetary Policy Near the Zero Lower Bound - In a speech to the Peterson Institute I gave last September, I argued that the Federal Open Market Committee would be well served by being especially cautious before raising the fed funds rate off zero.  www.chicagofed.org/publications/speeches/2015/03-20-2015-brookings-risk-management-near-lower-bound

March 20, 2015 - NCUA - New NCUA Video Series Helps Credit Unions Seeking CDFI Certification - Credit unions interested in becoming certified as Community Development Financial Institutions can get valuable information from a new video series produced by the National Credit Union Administration. www.ncua.gov/News/Pages/NW20150320Video.aspx

March 20, 2015 - OCC Enforcement Actions and Terminations for March 2015 - The Office of the Comptroller of the Currency today released new enforcement actions taken against national banks, federal savings associations, and individuals currently and formerly affiliated with national banks and federal savings associations. www.occ.gov/news-issuances/news-releases/2015/nr-occ-2015-41.html

March 20, 2015 - Diana Han Joins St. Louis Fed’s Health Care Industry Council - Diana Han, chief medical officer for GE Appliances and Lighting in Louisville, Ky., has been named to the Health Care Industry Council of the Federal Reserve Bank of St. Louis. www.stlouisfed.org/news-releases/2015/03/20/diana-han-st-louis-feds-health-care-industry

March 20, 2015 - Statistical Release - Household Debt Service and Financial Obligations Ratios.   www.federalreserve.gov/releases/housedebt/default.htm

March 20, 2015 - The Systematic Component of Monetary Policy in SVARs: An Agnostic Identification Procedure - Jonas E. Arias, Dario Caldara, and Juan F. Rubio-Ramirez - Following Leeper, Sims, and Zha (1996), we identify monetary policy shocks in SVARs by restricting the systematic component of monetary policy. In particular, we impose sign and zero restrictions only on the monetary policy equation. www.federalreserve.gov/econresdata/ifdp/2015/files/ifdp1131.pdf

March 20, 2015 - Have Distressed Neighborhoods Recovered? Evidence from the Neighborhood Stabilization Program - Jenny Schuetz, Jonathan Spader, and Alvaro Cortes - During the 2007-2009 housing crisis, concentrations of foreclosed and vacant properties created severe blight in many cities and neighborhoods.  www.federalreserve.gov/econresdata/feds/2015/files/2015016pap.pdf

March 20, 2015 - Consumers' Attitudes and Their Inflation Expectations - Michael Ehrmann, Damjan Pfajfar, and Emiliano Santoro - This paper studies consumers' inflation expectations using micro-level data from the Surveys of Consumers conducted by University of Michigan.   www.federalreserve.gov/econresdata/feds/2015/files/2015015pap.pdf

March 20, 2015 - Institutions and return predictability in oil-exporting countries - Sirio Aramonte, Mohammad Jahan-Parvar, and Justin Shugarman - We study whether stock market returns in oil-exporting countries can be predicted by oil price changes, and we investigate the link between predictability and the quality of each country's institutions. Returns are predictable for half the countries we consider, and predictability is stronger when institutional quality is lower. www.federalreserve.gov/econresdata/feds/2015/files/2015014pap.pdf

March 20, 2015 - A Global Trade Model for the Euro Area - Michele Modugno, Antonello D'Agostino, and Chiara Osbat - We propose a model for analyzing euro area trade based on the interaction between macroeconomic and trade variables. www.federalreserve.gov/econresdata/feds/2015/files/2015013pap.pdf

March 20, 2015 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update - Since the beginning of the financial market turmoil in August 2007, the Federal Reserve's balance sheet has grown in size and has changed in composition.  www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

March 20, 2015 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at 10:00 AM on March 20, 2015, under expedited procedures. Matter considered: Enforcement Matter. www.federalreserve.gov/aboutthefed/boardmeetings/20150320exp.htm

March 20, 2015 - Federal Reserve System publishes annual financial statements - The Federal Reserve System on Friday released the 2014 combined annual financial statements for the Federal Reserve Banks, as well as statements for the 12 individual Federal Reserve Banks, Maiden Lane LLC, and the Board of Governors.  www.federalreserve.gov/newsevents/press/other/20150320a.htm
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March 19, 2015 - Comptroller of the Currency Discusses Tailoring Supervisory Expectations to the Size and Complexity of Regulated Institutions - Comptroller of the Currency Thomas Curry today discussed the Office of the Comptroller of the Currency’s approach to tailoring regulatory and supervisory expectations to the size and complexity of supervised institutions.  www.occ.gov/news-issuances/news-releases/2015/nr-occ-2015-39.html

March 19, 2015 - Deputy Comptroller Discusses Community Development - Deputy Comptroller for Community Affairs Barry Wides today discussed how the Public Welfare Investment authority and the Community Reinvestment Act foster community and economic development, during remarks before the Association for Neighborhood and Housing Development, Inc. www.occ.gov/news-issuances/news-releases/2015/nr-occ-2015-38.html

March 19, 2015 - Financial Market Stress Rises for First Time in Two Months - Financial market stress rose for the first time in eight weeks, according to the St. Louis Fed Financial Stress Index. For the week ending March 13, 2015, the STLFSI measured -1.007, up slightly from the previous week’s revised value of -1.066. www.stlouisfed.org/news-releases/2015/03/19/financial-market-stress-rises-for-first-time-in-two-months

March 19, 2015 - Governor Daniel K. Tarullo - Application of Enhanced Prudential Standards to Bank Holding Companies - Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate, Washington, D.C. http://www.federalreserve.gov/newsevents/testimony/tarullo20150319a.htm

March 19, 2015 - NCUA - Still Time to Register for NCUA’s Field of Membership Strategies Webinar - Learn About Membership Expansion and Serving Underserved Communities - Registration is still open for the March 25 webinar, “Successful Strategies for Field of Membership Expansion,” hosted by the National Credit Union Administration. www.ncua.gov/News/Pages/NW20150319Webinar.aspx

March 19, 2015 - NCUA Seeks to Eliminate Fixed-Assets Cap - Board Action Bulletin - Stabilization Fund Continues to Improve, Future Assessments Unlikely - The National Credit Union Administration Board convened its third open meeting of 2015 at the agency’s headquarters today and unanimously approved one item www.ncua.gov/about/BoardActions/Pages/BAB20150319.aspx

March 18, 2015 - Comptroller of the Currency Issues Statement Regarding Bank Investment in the Municipal Securities Market - Comptroller of the Currency Thomas J. Curry today issued the following statement regarding investments in municipal securities made by national banks and federal savings associations www.occ.gov/news-issuances/news-releases/2015/nr-occ-2015-37.html

March 18, 2015 - NCUA - February NCUA Board Meeting Video Now Available Online - The video recording of the February 2015 open meeting of the National Credit Union Administration Board is now available on the agency’s website. www.ncua.gov/News/Pages/NW20150318BoardVideo.aspx

March 18, 2015 - NCUA - March NCUA Report Now Available - The National Credit Union Administration announced today the March 2015 issue of The NCUA Report is now available online. www.ncua.gov/News/Pages/NW20150318NCUAReport.aspx

March 18, 2015 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at 10:30 AM on March 17, 2015, under expedited procedures. Matter considered: Discussion of Medium-Term Monetary Policy Issues. www.federalreserve.gov/aboutthefed/boardmeetings/20150317exp.htm

March 18, 2015 - FOMC press conference - Press conference with FOMC Chair, Janet L. Yellen, March 18, 2015. www.federalreserve.gov/monetarypolicy/fomcpresconf20150318.htm

March 18, 2015 - Federal Reserve Board and Federal Open Market Committee release economic projections from the March 17-18 FOMC meeting - 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 17-18 meeting of the Federal Open Market Committee. www.federalreserve.gov/newsevents/press/monetary/20150318b.htm

March 18, 2015 - Federal Reserve issues FOMC statement - Information received since the Federal Open Market Committee met in January suggests that economic growth has moderated somewhat. Labor market conditions have improved further, with strong job gains and a lower unemployment rate.   www.federalreserve.gov/newsevents/press/monetary/20150318a.htm

March 17, 2015 - Metsger: Field-of-Membership Regulation the Top Issue for Credit Unions - Email Address Set Up for Comment, Internal Working Group Considers Changes - Modernizing field-of-membership regulations is the most important issue for the long-term health of America’s credit unions, National Credit Union Administration Board Vice Chairman Rick Metsger said today, and he encouraged people in the credit union system to join that effort. www.ncua.gov/News/Pages/NW20150317FOM.aspx

March 17, 2015 - NCUA - Improvement Continues for Corporate Resolution Cost and Guaranteed Notes Data - NCUA “Will Continue to Exercise Prudence” until Stabilization Fund Expires - The National Credit Union Administration has updated information about the costs of the Corporate Resolution Program and the performance of the NCUA Guaranteed Notes Program. www.ncua.gov/News/Pages/NW20150317ResolutionNGN.aspx

March 17, 2015 - NCUA Warns Consumers about “National Credit Union” Phishing Scam - Website Uses Logo Similar to NCUA’s, Mimics Website Design and Language - The National Credit Union Administration has received reports of an online phishing scam that uses a website with a logo and a design similar to the agency’s own site in an attempt to convince unwary customers to provide information or send money. www.ncua.gov/News/Pages/NW20150317PhishingScam.aspx

March 17, 2015 - Federal Reserve Bank of St. Louis To Host IT Career Fair on March 30 - The Federal Reserve Bank of St. Louis will host a career fair on March 30, 2015, geared towards positions in the IT field. The fair will provide attendees with an opportunity to learn more about the St. Louis Fed and the Bank’s culture; the different departments in the Bank with IT functions; current and future opportunities; and typical projects applicable to Bank IT employees. www.stlouisfed.org/news-releases/2015/03/17/it-career-fair

March 17, 2015 - FFIEC Focuses on Cybersecurity, Will Debut Self-Assessment Tool - The Federal Financial Institutions Examination Council today provided an overview of its cybersecurity priorities for the remainder of 2015. www.ffiec.gov/press/pr031715.htm

March 16, 2015 - NCUA - Stabilization Fund Earns Clean 2014 Audit - ?Year-End Positive Net Position Reached for the First Time - The Temporary Corporate Credit Union Stabilization Fund has received a sixth consecutive clean audit opinion, the National Credit Union Administration announced today. www.ncua.gov/News/Pages/NW20150316StabilizationFundAudit.aspx

March 16, 2015 - Kansas City Fed names advisory council appointment - The Federal Reserve Bank of Kansas City has appointed Craig Showalter, president and chief executive officer of the Wyoming Community Foundation, to its Community Development Advisory Council. www.kc.frb.org/publicat/newsroom/2015pdf/Press.Release.03.16.15.pdf

March 16, 2015 - Freedom of Information Office - 2015 Chief FOIA Officer Report - The Chief FOIA Officer of the Board of Governors of the Federal Reserve System (Board), Margaret McCloskey Shanks, Deputy Secretary, 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/foia-officer-report-2015.htm

March 16, 2015 - Federal Reserve opens registration for its Payment System Improvement Task Forces - The Federal Reserve on Monday released details for participation in two task forces described in its recently published "Strategies for Improving the U.S. Payment System" paper. www.federalreserve.gov/newsevents/press/other/20150316a.htm

March 16, 2015 - Industrial Production and Capacity Utilization - G.17 - Industrial production increased 0.1 percent in February after decreasing 0.3 percent in January. In February, manufacturing output moved down 0.2 percent, its third consecutive monthly decline.   www.federalreserve.gov/releases/g17/Current/default.htm

March 16, 2015 - Federal Reserve Board announces proposal requiring banking organizations to include existing Legal Entity Identifiers on certain regulatory reporting forms - The Federal Reserve Board on Monday announced a proposal that would require banking organizations to include their existing Legal Entity Identifiers on certain regulatory reporting forms. www.federalreserve.gov/newsevents/press/bcreg/20150316a.htm

March 13, 2015 - Illinois Fiscal Outlook - In a recent blog posting, associate economist Rebecca Friedman looks at topics raised on February 27, at the Illinois Fiscal Outlook Breakfast hosted by the Federal Reserve Bank of Chicago and the Institute of Government and Public Affairs. http://midwest.chicagofedblogs.org/?p=2367

March 13, 2015 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update - Since the beginning of the financial market turmoil in August 2007, the Federal Reserve's balance sheet has grown in size and has changed in composition.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

March 13, 2015 - Advanced Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System will be held under expedited procedures at 10:30 AM on March 17, 2015. Matter to be considered: Discussion of Medium-Term Monetary Policy Issues. www.federalreserve.gov/whatsnew.htm
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March 12, 2015 - Preserving Chicagoland’s Small Multifamily Housing Stock - ProfitWise News and Views features articles about blight in Detroit, a conference about preserving Chicago’s small affordable rental housing stock units and a product that provides information for community banking. www.chicagofed.org/~/media/publications/profitwise-news-and-views/2015/pnv-issue1-2015-web-final-pdf.pdf?la=en

March 12, 2015 - NCUA - Agenda for the 3/19/2015 NCUA Board Meeting is Available.  www.ncua.gov/about/Pages/Agendas/AG20150319.aspx

March 12, 2015 - NCUA: State-Level Data Show Credit Unions’ Loan Growth Continues - ?Asset Growth Rises, Delinquencies Steady, Deposit Growth Edges Higher - America’s credit unions continued to boost lending during the year ending Dec. 31, 2014, according to state-level data compiled by the National Credit Union Administration. www.ncua.gov/News/Pages/NW20150312StateMaps.aspx 

March 12, 2015 - Financial Market Stress Falls to Lowest Level in Three Months - Financial market stress fell for the seventh consecutive week, according to the St. Louis Fed Financial Stress Index. For the week ending March 6, 2015, the STLFSI measured -1.062, its lowest level since the week ending Dec. 5, 2014. www.stlouisfed.org/news-releases/2015/03/12/financial-market-stress-falls-to-lowest-level-in-three-months

March 12, 2015 - Alan Wheatley Joins St. Louis Fed’s Health Care Industry Council - Alan Wheatley Joins St. Louis Fed’s Health Care Industry Council - Alan Wheatley, president retail segment, for Humana, Louisville, Ky., has been named to the Health Care Industry Council of the Federal Reserve Bank of St. Louis. www.stlouisfed.org/news-releases/2015/03/12/alan-wheatley-joins-st-louis-fed-health-care-council

March 12, 2015 - St. Louis Fed Names Douglas Scarboro as New Regional Executive in Memphis - The Federal Reserve Bank of St. Louis has named Douglas Scarboro as regional executive of its Memphis Branch. Scarboro will join the Bank on March 31 and will succeed Martha Perine Beard, who has led the Memphis Branch since 1997 and is retiring after a distinguished 44-year career with the St. Louis Fed. www.stlouisfed.org/news-releases/2015/03/12/st-louis-fed-names-douglas-scarboro-memphis-regional-exec

March 12, 2015 - FDIC Newsletter Features Practical Ideas on Paying for a Home or a Car; - Other Topics Include Paying With a Smartphone, Telemarketing Scams, Consumer Complaints, and How and Where to Save Money - The latest FDIC Consumer News features tips to help people make what could be two of their biggest financial decisions -- financing their home and getting an auto loan -- as well as an overview of new options for using smartphones to pay at shops and restaurants.  www.fdic.gov/news/news/press/2015/pr15026.html

March 12, 2015 - Model Validation Council - The Model Validation Council was established in 2012 by the Board of Governors to provide expert and independent advice on its process to rigorously assess the models used in stress tests of banking institutions.  www.federalreserve.gov/aboutthefed/mvc.htm

March 12, 2015 - A closed meeting of the Board of Governors of the Federal Reserve System will be held under expedited procedures at 12:00 PM on March 16, 2015.  www.federalreserve.gov/aboutthefed/boardmeetings/20150316advexp.htm

March 12, 2015 - Financial Accounts of the United States - Z.1 - These data are released during the second week of March, June, September, and December. www.federalreserve.gov/releases/z1/Current/z1.pdf

March 12, 2015 - Proposal for Comment - Proposal to approve under OMB delegated authority the extension for three years, with revision, of the following reports: FR 2502q, FR 2835, FR 2835a, and FR 3033p.  www.federalreserve.gov/apps/foia/proposedregs.aspx#icp

March 12, 2015 - Federal Reserve Board announces civil money penalty and issues cease and desist order against Commerzbank - The Federal Reserve Board on Thursday announced a $200 million penalty and consent cease and desist order against Commerzbank AG, of Frankfurt am Main, Germany, relating to violations of U.S. sanctions, the Bank Secrecy Act, and other anti-money laundering laws.   www.federalreserve.gov/newsevents/press/enforcement/20150312b.htm
 
March 12, 2015 - Federal Reserve Board announces termination of enforcement action with Citizens Bancshares of Woodville, Inc. www.federalreserve.gov/newsevents/press/enforcement/20150312a.htm

March 11, 2015 - OCC Hosts Indianapolis Workshop for Bank Directors - The Office of the Comptroller of the Currency will host a workshop in Indianapolis at the Sheraton Indianapolis at City Centre, April 13-15, for directors of national community banks and federal savings associations. www.occ.gov/news-issuances/news-releases/2015/nr-occ-2015-36.html

March 11, 2015 - Federal Reserve releases results of Comprehensive Capital Analysis and Review - The Federal Reserve on Wednesday announced it has not objected to the capital plans of 28 bank holding companies participating in the Comprehensive Capital Analysis and Review.  www.federalreserve.gov/newsevents/press/bcreg/20150311a.htm

March 10, 2015 - NCUA - McWatters Calls for NCUA Advisory Committees - First GAC Speech Emphasizes “True” Reg Relief, Transparency and Engagement - In his first formal address before the Credit Union National Association, National Credit Union Administration Board Member J. Mark McWatters stressed the need for transparent and fully accountable regulation, calling on the NCUA Board to establish three formal advisory committees. www.ncua.gov/News/Pages/NW20150310McWattersGAC.aspx

March 9, 2015 - Interest Rates and Asset Prices: A Primer - Economic Perspectives article examines the implications of three key theoretical models of asset booms and busts. - What does economic theory have to say about the extent to which exogenous changes in short-term and/or long-term riskless rates ought to affect asset prices, and by what channels?  www.chicagofed.org/~/media/publications/economic-perspectives/2014/4q2014-part2-barksy-bogusz-pdf.pdf

March 9, 2015 - NCUA - Metsger: “All of Us Have a Role" - ?NCUA Vice Chairman Discusses Regulations, Cybersecurity, Risk-Based Capital - Whether the issue is regulatory modernization, security breaches or legislation, everyone in the credit union community can contribute to positive change, National Credit Union Administration Board Vice Chairman Rick Metsger said today. www.ncua.gov/News/Pages/NW20150309MetsgerGAC.aspx

March 9, 2015 - NCUA - Matz: 2015 the Year of Regulatory Relief - NCUA Board Chairman Charts Five Areas Where Agency Will Act - Credit unions can look forward to regulatory relief in the coming year, National Credit Union Administration Board Chairman Debbie Matz said today. www.ncua.gov/News/Pages/NW20150309MatzGAC.aspx

March 9, 2015 - OCC Appoints 5 New Members to Mutual Savings Association Advisory Committee - The Office of the Comptroller of the Currency today appointed five new members to its Mutual Savings Association Advisory Committee. www.occ.gov/news-issuances/news-releases/2015/nr-occ-2015-35.html

March 9, 2015 - Housing Market Conditions Continue To Improve Across Eighth District During 4Q 2014 - Housing market conditions continued to improve during the fourth quarter of 2014 across the seven states that comprise the St. Louis Fed's Eighth District, with home values rising and mortgage delinquencies declining, according to the St. Louis Fed’s latest Housing Market Conditions report. www.stlouisfed.org/news-releases/2015/03/05/housing-market-conditions

March 9, 2015 - Regulatory Reform - Communications with the public through March 9, 2015 - The Federal Reserve Board will be involved in many rulemakings to implement the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. www.federalreserve.gov/newsevents/reform_meetings.htm

March 6, 2015 - Current Release - January 2015 Release Date: March 6, 2015 - In January, consumer credit increased at a seasonally adjusted annual rate of 4-1/4 percent. Revolving credit decreased at an annual rate of 1-1/2 percent, while nonrevolving credit increased at an annual rate of 6-1/4 percent. www.federalreserve.gov/releases/g19/current/

March 6, 2015 - Do Lower Gasoline Prices Boost Confidence? - Aditya Aladangady and Claudia R. Sahm - A gallon of gasoline currently costs one third less than it did last summer, as shown by the solid line in Figure 1. Gasoline makes up 5 percent of average family spending, so lower prices at the pump should increase current purchasing power for many.  www.federalreserve.gov/econresdata/notes/feds-notes/2015/do-lower-gasoline-prices-boost-confidence-20150306.html

March 6, 2015 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update - Since the beginning of the financial market turmoil in August 2007, the Federal Reserve's balance sheet has grown in size and has changed in composition.  www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm 
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March 4, 2015 - Fed's Evans Addresses Rotary Club - President Charles Evans talked about monetary policy and the economy March 4, during the Lake Forest-Lake Bluff Rotary Club’s 2015 Economic Breakfast. www.chicagofed.org/~/media/publications/speeches/2015/03042015-low-inflation-monetary-policy-lake-forest-lake-bluff-rotary-charles-evans-print-pdf.pdf

March 4, 2015 - Listen to St. Louis Fed Economist Discuss the March Beige Book - The St. Louis Fed has released audio highlights of the Federal Reserve's latest Beige Book, released on March 4, 2015. The sound clips summarize economic conditions for the United States as a whole, as well as for the Fed's Eighth District, based in St. Louis. www.stlouisfed.org/news-releases/2015/03/04/march-2015-beige-book

March 4, 2015 - FDIC Issues List of Banks Examined for CRA Compliance - The Federal Deposit Insurance Corporation today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act.  www.fdic.gov/news/news/press/2015/pr15025.html

March 4, 2015 - Inflation Dynamics During the Financial Crisis - Simon Gilchrist, Raphael Schoenle, Jae W. Sim, and Egon Zakrajsek - Firms with limited internal liquidity significantly increased prices in 2008, while their liquidity unconstrained counterparts slashed prices. www.federalreserve.gov/econresdata/feds/2015/files/2015012pap.pdf

March 4, 2015 - Legal Interpretations - Bank Holding Company Act, February 18, 2015.   www.federalreserve.gov/bankinforeg/LegalInterpretations/bhc_changeincontrol2015.htm

March 4, 2015 - Beige Book - Informal review by the Federal Reserve Banks of current economic conditions in their Districts.   www.federalreserve.gov/monetarypolicy/beigebook/beigebook20150304.htm

March 4, 2015 - Federal Open Market Committee - Transcripts and Presentation Materials, 2009.   www.federalreserve.gov/monetarypolicy/fomchistorical2009.htm

March 3, 2015 - NCUA - Registration Open for March Open Board Meeting Online Livestream - Registration is now open for the online livestreaming of the National Credit Union Administration’s March open Board meeting. - People interested in watching the March 19 open Board meeting live will need to register online here, and participants will use this same link to log into the livestream. www.ncua.gov/News/Pages/NW20150303Livestream.aspx

March 3, 2015 - NCUA Hosting Field-of-Membership Webinar - Learn About Membership Expansion, Serving Underserved Communities - Credit unions looking to expand membership and improve service to underserved communities can get valuable help from the National Credit Union Administration’s upcoming webinar, “Successful Strategies for Field-of-Membership Expansion,” to be held Wednesday, March 25, beginning at 2 p.m. Eastern. www.ncua.gov/News/Pages/NW20150303FOMWebinar.aspx

March 3, 2015 - Comptroller of the Currency Marks the 150th Anniversary of the Freedman's Bank - Comptroller of the Currency Thomas Curry today helped to celebrate the 150th anniversary of Freedman's Savings and Trust Company, known as the Freedman’s Bank.  www.occ.gov/news-issuances/speeches/2015/pub-speech-2015-34.pdf

March 3, 2015 - OCC Releases CRA Evaluations for 15 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, 2015 through February 28, 2015.  www.occ.gov/news-issuances/news-releases/2015/nr-occ-2015-33.html

March 3, 2015 - Payments Systems - National Settlement Service, Fedwire Securities Service, and Fedwire Funds Service: Data Updates.  www.federalreserve.gov/paymentsystems/default.htm

March 3, 2015 - Current FAQ - Why is it important to separate Federal Reserve monetary policy decisions from political influence? - Policymakers, academics, and other informed observers around the world have reached broad consensus that the goals of monetary policy should be established by the political authorities, but the conduct of monetary policy in pursuit of those goals should be free from political influence. www.federalreserve.gov/faqs/why-is-it-important-to-separate-federal-reserve-monetary-policy-decisions-from-political-influence.htm

March 2, 2015 - Community Banking: Risks and Opportunities in an Improving Economy - Chicago Fed Letter summarizes Tenth Annual Community Bankers Symposium, cosponsored by the Chicago Fed, FDIC and OCC. - Jane Frost, Pamela Kennedy, Courtney Markovich, Wade Perry, Lea Whitney - The Tenth Annual Community Bankers Symposium, co-sponsored by the Federal Reserve Bank of Chicago, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency, was held at the Chicago Fed on November 7, 2014.   https://www.chicagofed.org/~/media/publications/chicago-fed-letter/2015/cfl336-pdf.pdf

March 2, 2015 - NCUA Offers Online Resources to Help Consumers Protect Themselves - National Consumer Protection Week Aims to Raise Awareness - During National Consumer Protection Week, the National Credit Union Administration reminds credit union members about resources available on the agency’s website to help them understand their rights as consumers. www.ncua.gov/News/Pages/NW20150302NCPW.aspx

March 2, 2015 - Credit Union Loan Growth at Nine-Year High - Membership Climbs Past 99 Million; Net Worth Ratio Nears 11 Percent - Loan growth at federally insured credit unions in 2014 climbed to the highest level since 2005, the National Credit Union Administration reported today. www.ncua.gov/News/Pages/NW20150302PACAFacts.aspx

March 2, 2015 - Comptroller of the Currency Addresses Institute of International Bankers - Comptroller of the Currency Thomas J. Curry today discussed the Bank Secrecy Act and other issues before the Institute of International Bankers. http://www.occ.gov/news-issuances/news-releases/2015/nr-occ-2015-32.html

March 2, 2015 - Foreign Exchange Rates -- G.5 Monthly - The table below shows the average rates of exchange in FEBRUARY 2015 together with comparable figures for other months. Averages are based on daily noon buying rates for cable transfers in New York City certified for customs purposes by the Federal Reserve Bank of New York. www.federalreserve.gov/releases/g5/current/default.htm