The E-mail Banking News
(Bank Regulatory News)
March 2017

March 31, 2017 - Midwest Economy Index - Index shows Midwest economic growth picked up in February - The Midwest Economy Index increased to +0.27 in February from +0.01 in January. The relative MEI increased to +0.08 in February from –0.09 in January. February’s value for the relative MEI indicates that Midwest economic growth was slightly higher than what would typically be suggested by the growth rate of the national economy. www.chicagofed.org/~/media/publications/mei/2017/mei-february2017-pdf.pdf

March 31, 2017 - Valley State Credit Union Closes; ELGA Assumes Loans, Assets, and Shares - Member Accounts Protected by Share Insurance Fund; Services Continue - The State of Michigan Department of Insurance and Financial Services today liquidated Valley State Credit Union of Saginaw, Michigan, and named the National Credit Union Administration as liquidating agent. www.ncua.gov/newsroom/Pages/news-march-2017-valley-state-credit-union-closes-elga-assumes-loans-assets-shares.aspx

March 31, 2017 - NCUA - National Financial Literacy Month Highlights the Importance of Education - Credit Unions Can Find Resources at MyCreditUnion.gov - Educated consumers are better-prepared to build financial security and protect themselves from scams, and the National Credit Union Administration encourages credit unions to continue helping members better understand personal financial matters during Financial Literacy Month. www.ncua.gov/newsroom/Pages/news-2017-march-national-financial-literacy-month-highlights-importance-education.aspx

March 31, 2017 - NCUA Issues Prohibition Notices - The National Credit Union Administration in March issued two notices of prohibition to individuals who have been convicted of crimes of dishonesty and, as a result, are prohibited from participating in the affairs of any federally insured financial institution. www.ncua.gov/newsroom/Pages/news-2017-mar-prohibition-orders.aspx

March 31, 2017 - FDIC Makes Public February Enforcement Actions - 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/2017/pr17026.html

March 31, 2017 - Report to the Congress on the Office of Minority and Women Inclusion, March 2017.  www.federalreserve.gov/publications/files/omwi-report-20170331.pdf

March 31, 2017 - Industrial Production and Capacity Utilization - G.17 - Annual Revision - The Federal Reserve has revised its index of industrial production and the related measures of capacity and capacity utilization. www.federalreserve.gov/releases/g17/revisions/Current/DefaultRev.htm

March 31, 2017 - Recent balance sheet trends, weekly chart update - Charts are generally updated at noon ET the day following the publication of the H.4.1, which is typically published at 4:30 ET on Thursdays. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

March 31, 2017 - Semiannual Report on Banking Applications Activity, March 2017 - This report provides information regarding the applications filed by banking organizations and reviewed by the Federal Reserve as of the most recent reporting period ending on June 30 and December 31 of each calendar year. www.federalreserve.gov/publications/semiannual-report-on-banking-applications-activity.htm

March 31, 2017 - Regulatory Reform - Discount Window Lending, 2015:Q1 - 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/regreform/discount-window.htm
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March 30, 2017 - OCC Newsletter Focuses on Innovative Partnerships to Preserve Affordable Housing - The Office of the Comptroller of the Currency published the latest edition of its Community Development Investments newsletter entitled “Preserving Affordable Housing: Innovative Partnerships.” www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-38.html

March 30, 2017 - St. Louis Fed’s Economic Education Wins Prestigious Award - The Institute for Financial Literacy recently honored Econ Lowdown, the economic education resources from the Federal Reserve Bank of St. Louis. Econ Lowdown received the 2017 Excellence in Financial Literacy Education Award for Education Program of the Year: Children, General. www.stlouisfed.org/news-releases/2017/03/30/st-louis-fed-economic-education-wins-prestigious-award

March 29, 2017 - Chicago Fed President Charles Evans discusses the economy's performance in 2016. www.chicagofed.org/publications/annual-report/2016-annual-report

March 29, 2017 - The Times They Are A-Changin' - Charles L. Evans President and Chief Executive Officer Federal Reserve Bank of Chicago - Presented before DZ Bank-OMFIF International Capital Markets Conference in Frankfurt, Germany. www.chicagofed.org/~/media/publications/speeches/2017/03-29-2017-times-are-a-changin-charles-evans-franfurt-print-pdf.pdf?la=en

March 29, 2017 - Comptroller Discusses Bank Services to Consumers, Businesses, and Communities - Comptroller of the Currency Thomas J. Curry today discussed the Office of the Comptroller of the Currency’s work to promote a vibrant and diverse banking system capable of meeting the needs of consumers, businesses, and communities throughout the nation. www.occ.gov/news-issuances/speeches/2017/pub-speech-2017-37.pdf

March 29, 2017 - SF Fed’s Williams: Time to Shift Conversation From Attaining Recovery to Sustaining Recovery - Says economy is as close to Fed’s dual mandate goals “as we’ve ever been.” www.frbsf.org/our-district/press/news-releases/2017/sf-feds-williams-time-to-shift-conversation-from-attaining-recovery-to-sustaining-recovery/

March 29, 2017 - Are Central Cities Poor and Non-White? - Jenny Schuetz, Arturo Gonzalez, Jeff Larrimore, Ellen A. Merry, and Barbara J. Robles - For much of the 20th century, America's central cities were viewed as synonymous with economic and social hardship, often used as proxy for low-income communities of color. www.federalreserve.gov/econres/feds/files/2017031pap.pdf

March 29, 2017 - Statistical Release - Finance Companies - G.20.  www.federalreserve.gov/releases/g20/current/g20.htm

March 28, 2017 - Emerging Trends in the U.S. and Colorado Economies By Alison Felix Economist & Branch Executive Federal Reserve Bank of Kansas City Denver Branch.  www.kansascityfed.org/~/media/files/publicat/speeches/2017/2017-felix-montrosebuilders-03-28.pdf

March 28, 2017 - FDIC Releases Report on its Youth Savings Pilot and Launches New Network to Support Youth Savings Collaborations - The FDIC released a report on its Youth Savings Pilot program, which identifies promising approaches to combining financial education with the opening of safe, low-cost savings accounts for school-aged children. www.fdic.gov/news/news/financial/2017/fil17013.html

March 28, 2017 - FDIC Releases Report on Its Youth Savings Pilot - Launches New Network to Support Youth Savings Programs - The Federal Deposit Insurance Corporation today released of a report on its Youth Savings Pilot program at a meeting of its Community Banking Advisory Committee. www.fdic.gov/news/news/press/2017/pr17025.html

March 28, 2017 - Speech by Chair Yellen on addressing workforce development challenges in low-income communities At "Creating a Just Economy," the 2017 annual conference of the National Community Reinvestment Coalition, Washington, D.C. www.federalreserve.gov/newsevents/speech/yellen20170328a.htm

March 28, 2017 - Speech by Governor Powell on America's central bank: the history and structure of the Federal Reserve At the West Virginia University College of Business and Economics Distinguished Speaker Series, Morgantown, West Virginia.   www.federalreserve.gov/newsevents/speech/powell20170328a.htm

March 28, 2017 - Federal Reserve Board issues enforcement action with Bank of Star City and announces termination of enforcement action with Heritage Bank www.federalreserve.gov/newsevents/pressreleases/enforcement20170328a.htm

March 27, 2017 - The Role of Learning for Asset Prices and Business Cycles (Revision) - The importance of financial frictions for the business cycle is widely recognized, but it is less recognized that their effects depend heavily on the underlying asset pricing theory. www.federalreserve.gov/econres/feds/files/2016019r1pap.pdf

March 27, 2017 - Closed Board Meeting on March 27, 2017 - Government in the Sunshine Meeting Notice - On Monday, March 27, 2017 at 11:15 a.m., a meeting of the Board of Governors of the Federal Reserve System was held under expedited procedures, as set forth in section 26lb.7 of the Board's Rules Regarding Public Observation of Meetings, at the Board's offices at 20th Street and C Streets, N.W., Washington, D.C., to consider the following matters of official Board business. www.federalreserve.gov/aboutthefed/boardmeetings/20170327closed.htm

March 27, 2017 - Legal Interpretations - Bank Holding Company Act, March 17 and 24, 2017.  www.federalreserve.gov/supervisionreg/legalinterpretations/bhc_changeincontrol2017.htm

March 24, 2017 - Comments before the Strong Foundations: The Economic Futures of Kids and Communities, Federal Reserve System Community Development Research Conference in Washington, DC. www.chicagofed.org/~/media/publications/speeches/2017/03-24-2017-strong-foundations-evans-opening-remarks-cdps-washington-dc-print-pdf.pdf?la=en

March 24, 2017 - OCC Hosts Risk Governance and Credit Risk Workshops in Charlotte - The Office of the Comptroller of the Currency will host two workshops at the Sheraton Charlotte Airport Hotel, Charlotte, N.C., April 25-26, for directors of national community banks and federal savings associations supervised by the OCC. www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-36.html

March 24, 2017 - Mortgage Performance Continues to Improve - The overall performance of first-lien mortgages continues to improve, and the number of loans in delinquency continues to decline, according to the Office of the Comptroller of the Currency’s most recent quarterly report on mortgages. www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-35.html

March 24, 2017 - St. Louis Fed's Bullard Discusses Monetary Policy, the New Fiscal Policy and the Fed Balance Sheet - Federal Reserve Bank of St. Louis President James Bullard discussed “Current Monetary Policy, the New Fiscal Policy and the Fed’s Balance Sheet” at a meeting of the Economic Club of Memphis on Friday. www.stlouisfed.org/news-releases/2017/03/24/feds-bullard-discusses-monetary-policy 

March 24, 2017 - FDIC Announces Meeting of Advisory Committee on Community Banking - The Federal Deposit Insurance Corporation today announced that it will hold a meeting of the Advisory Committee on Community Banking on Tuesday, March 28. www.fdic.gov/news/news/press/2017/pr17024.html

March 24, 2017 - The Effect of the GST on Indian Growth - In the summer of 2016, the Indian Congress approved the Goods and Services Tax legislation to simplify the current multilayered federal, state, and local indirect tax structure. www.federalreserve.gov/econres/notes/ifdp-notes/effect-of-the-gst-on-indian-growth-20170324.htm

March 24, 2017 - Household Debt Service and Financial Obligations Ratios - Household debt service payments and financial obligations as a percentage of disposable personal income; seasonally adjusted.   www.federalreserve.gov/releases/housedebt/default.htm

March 24, 2017 - Credit and Liquidity Programs and the Balance Sheet.  www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm 

March 24, 2017 - Quarterly Report on Federal Reserve Balance Sheet Developments, March 2017 - 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/quarterly-balance-sheet-developments-report.htm

March 24, 2017 - Federal Reserve System publishes annual financial statements - Other Announcements - The Federal Reserve System on Friday released the 2016 combined annual audited financial statements for the Federal Reserve Banks, as well as statements for the 12 individual Federal Reserve Banks and the Board of Governors. www.federalreserve.gov/newsevents/pressreleases/other20170324a.htm

March 24, 2017 - Agencies complete resolution plan evaluation of 16 domestic firms; provide resolution plan guidance to four foreign banking organizations Banking and Consumer Regulatory Policy - The Federal Deposit Insurance Corporation and the Federal Reserve Board on Friday jointly announced that they had completed their evaluation of the 2015 resolution plans of 16 domestic banks and separately issued guidance to four foreign banks.
Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20170324a.htm
Press Release: www.fdic.gov/news/news/press/2017/pr17023.html
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March 23, 2017 - NCUA - Field-of-Membership Webinar and Questions and Answers Now Online - NCUA Plans to Issue Additional Guidance on New Rule in the Coming Months - Credit union stakeholders wanting more information about the National Credit Union Administration's new field-of-membership rule can now watch the agency’s webinar online and review questions and answers from the event. www.ncua.gov/newsroom/Pages/news-2017-march-field-membership-webinar-questions-answers-online.aspx

March 23, 2017 - OCC Reports Fourth Quarter 2016 Bank Trading Revenue Increased to $6 Billion - Trading revenue of U.S. commercial banks and savings associations increased to $6 billion in the fourth quarter of 2016, $1.7 billion higher than the fourth quarter a year earlier, according to a report released today by the Office of the Comptroller of the Currency. www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-34.html

March 23, 2017 - Welcoming remarks by Chair Janet L. Yellen At "Strong Foundations: The Economic Futures of Kids and Communities," the 10th Biennial Federal Reserve System Community Development Research Conference, Washington, D.C. www.federalreserve.gov/newsevents/speech/yellen20170323a.htm

March 23, 2017 - Federal Reserve Board issues enforcement action with Santander Holdings USA, Inc., and announces termination of enforcement action with HCSB Financial Corporation.   www.federalreserve.gov/newsevents/pressreleases/enforcement20170323a.htm

March 21, 2017 - Testing for Competitive Effects of Common Ownership - Jacob Gramlich and Serafin Grundl - We propose an alternative approach for analyzing the competitive effects of common ownership: to directly analyze the weights that firms place on each others' profits rather than using measures of industry concentration. www.federalreserve.gov/econres/feds/files/2017029pap.pdf

March 21, 2017 - The Skewness of the Price Change Distribution: A New Touchstone for Sticky Price Models - Shaowen Luo and Daniel Villar - We present a new way of empirically evaluating various sticky price models used to assess the degree of monetary non-neutrality. www.federalreserve.gov/econres/feds/files/2017028pap.pdf

March 21, 2017 - Looking Inside the Magic 8 Ball: An Analysis of Sales Forecasts using Italian Firm-Level Data - Maria D. Tito - This paper explores firm forecasting strategies. Using Italian data, we focus on two aspects of the forecasting process: how firms forecast sales and how accurate their predictions are. www.federalreserve.gov/econres/feds/files/2017027pap.pdf

March 21, 2017 - International Illiquidity - Aytek Malkhozov, Philippe Mueller, Andrea Vedolin, and Gyuri Venter - We build a parsimonious international asset pricing model in which deviations of government bond yields from a fitted yield curve of a country measure the tightness of investors' capital constraints. www.federalreserve.gov/econres/ifdp/files/ifdp1201.pdf

March 21, 2017 - Capital-Task Complementarity and the Decline of the U.S. Labor Share of Income - Musa Orak - This paper provides evidence that shifts in the occupational composition of the U.S. workforce are the most important factor explaining the trend decline in the labor share over the past four decades. www.federalreserve.gov/econres/ifdp/files/ifdp1200.pdf

March 21, 2017 - Federal Reserve System's Community Development Research Conference to focus on economic futures of kids and communities.  https://www.federalreserve.gov/newsevents/pressreleases/other20170321a.htm

March 21, 2017 - Banking agencies issue joint report to Congress under the Economic Growth and Regulatory Paperwork Reduction Act of 1996 - Continuing their efforts to reduce regulatory burdens while ensuring the safety and soundness of the nation's financial institutions, member agencies of the Federal Financial Institutions Examination Council today issued a joint report to Congress detailing their review of rules affecting financial institutions.
Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20170321a.htm
Press Release: www.fdic.gov/news/news/press/2017/pr17022.html
Press Release: www.ffiec.gov/press/pr032117.htm
Press Release: www.occ.gov/news-issuances/news-releases/2017/nr-ia-2017-33.html
Press Release: www.ncua.gov/newsroom/Pages/news-march-2017-banking-agencies-issue-joint-report-congress.aspx

March 21, 2017 - Federal Reserve System's Community Development Research Conference to focus on economic futures of kids and communities - The Federal Reserve System's 10th biennial Community Development Research Conference convenes on March 23 in Washington, D.C. www.federalreserve.gov/newsevents/pressreleases/other20170321a.htm

March 20, 2017 - Chicago Fed National Activity Index - Index shows economic growth increased in February - Led by improvements in employment-related indicators, the Chicago Fed National Activity Index increased to +0.34 in February from –0.02 in January. www.chicagofed.org/~/media/publications/cfnai/2017/cfnai-march2017-pdf.pdf

March 20, 2017 - Understanding Global Trends in Long-run Real Interest Rates - By Kei-Mu Yi , Jing Zhang - Real, or inflation-adjusted, interest rates may well be the most important prices for any nation’s economy. They govern intertemporal purchasing decisions facing households, firms, and all levels of government. www.chicagofed.org/publications/economic-perspectives/2017/2-yi-zhang

March 20, 2017 - NCUA - February 2017 NCUA Board Meeting Video Available - The video recording of the Feb. 23, 2017, open meeting of the National Credit Union Administration Board is now available on the agency’s website. www.ncua.gov/newsroom/Pages/news-2017-march-february-board-meeting-video-available.aspx

March 20, 2017 - NCUA - Foster Chosen as Public and Congressional Affairs Director - Bob Foster has been selected as Director of the National Credit Union Administration’s Office of Public and Congressional Affairs, the agency announced today. www.ncua.gov/newsroom/Pages/news-2017-march-foster-chosen-public-congressional-affairs-director.aspx

March 20, 2017 - Legal Interpretations - Bank Holding Companies/Savings and Loan Holding Companies/Change in Control - 2017 Letters www.federalreserve.gov/supervisionreg/legalinterpretations/bhc_changeincontrol2017.htm

March 20, 2017 - Federal Reserve Board's website has a new design - The Federal Reserve Board's website (www.federalreserve.gov) has a new design and additional features to improve the experience of visitors seeking information about the Federal Reserve and its actions. www.federalreserve.gov/newsevents/pressreleases/other20170320a.htm

March 17, 2017 - NCUA - Gulf Winds Federal Credit Union Assumes FCAMEC’s Members and Deposits - Member Deposits Remain Protected up to $250,000 by Share Insurance Fund - Gulf Winds Federal Credit Union, of Pensacola, Florida, has assumed the members and deposits of the former Florida Conference AME Church Federal Credit Union of Tallahassee, the National Credit Union Administration announced today. www.ncua.gov/newsroom/Pages/news-2017-march-gulf-winds-fcu-assumes-fcamec-members-deposits.aspx

March 17, 2017 - NCUA - FCAMEC Federal Credit Union Closes - Member Deposits Protected up to $250,000 by Share Insurance Fund - The National Credit Union Administration today liquidated Florida Conference AME Church Federal Credit Union of Tallahassee, Florida. www.ncua.gov/newsroom/Pages/fcamec-closure.aspx

March 17, 2017 - OCC Enforcement Actions and Terminations for March 2017 - 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/2017/nr-occ-2017-32.html 

March 17, 2017 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update - Since the beginning of the financial market turmoil in August 2007, the Federal Reserve's balance sheet has grown in size and has changed in composition. Total assets of the Federal Reserve have increased significantly from $869 billion on August 8, 2007, to well over $2 trillion. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

March 17, 2017 - Industrial Production and Capacity Utilization - G.17 - Industrial production was unchanged in February following a 0.1 percent decrease in January. www.federalreserve.gov/releases/g17/Current/default.htm

March 16, 2017 - Federal Reserve Board announces approval of application by People’s United Financial, Inc. - The Federal Reserve Board on Thursday announced its approval of the application under section 3 of the Bank Holding Company Act of 1956 by People's United Financial, Inc., Bridgeport, Connecticut, to merge with Suffolk Bancorp and thereby indirectly acquire. www.federalreserve.gov/newsevents/press/orders/20170316a.htm
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March 17, 2017 - OCC Enforcement Actions and Terminations for March 2017 - The Office of the Comptroller of the Currency (OCC) today released new enforcement actions taken against national banks, federal savings associations, and individuals currently and formerly affiliated with national banks and federal savings associations. https://www.occ.treas.gov/news-issuances/news-releases/2017/nr-occ-2017-32.html

March 16, 2017 - Federal Reserve Board announces termination of enforcement action with Community Shores Bank Corporation.  www.federalreserve.gov/newsevents/press/enforcement/20170316a.htm

March 15, 2017 - NCUA - Fourth-Quarter 2016 State Credit Union Data Show Growth Trends Continuing - Federally insured credit unions saw continued improvement in nearly every category during the fourth quarter of 2016, according to state-level data compiled by the National Credit Union Administration and released today. www.ncua.gov/newsroom/Pages/fourth-quarter-data.aspx

March 15, 2017 - Federal Reserve Board approves action by the Board of Directors of the Federal Reserve Bank of Minneapolis.  www.federalreserve.gov/newsevents/press/monetary/20170316a.htm 

March 15, 2017 - Federal Reserve Board approves action by the Board of Directors of the Federal Reserve Bank of Minneapolis.  www.federalreserve.gov/newsevents/press/monetary/20170315c.htm 

March 15, 2017 - OCC Issues Draft Licensing Manual Supplement for Evaluating Charter Applications From Financial Technology Companies, Will Accept Comments Through April 14 - The Office of the Comptroller of the Currency today provided additional detail on evaluating national bank charter applications from financial technology companies that engage in the business of banking. www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-31.html

March 15, 2017 - 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 14, 2017, and continued at 9:00 AM on March 15, 2017, under expedited procedures. Matter considered: Discussion of Monetary Policy Issues. www.federalreserve.gov/aboutthefed/boardmeetings/20170315exp.htm

March 15, 2017 - Federal Reserve Board approves action by the Boards of Directors of the Federal Reserve Banks of New York and St. Louis - The Federal Reserve Board has approved actions on Wednesday by the Boards of Directors of the Federal Reserve Banks of New York and St. Louis, increasing the discount rate at the Banks from 1-1/4 percent to 1-1/2 percent, effective March 16, 2017. www.federalreserve.gov/newsevents/press/monetary/20170315c.htm

March 15, 2017 - Federal Reserve Board and Federal Open Market Committee release economic projections from the March 14-15 FOMC meeting -The attached table and charts released on Wednesday summarize the economic projections and the target federal funds rate projections made by Federal Open Market Committee participants for the March 14-15 meeting. www.federalreserve.gov/newsevents/press/monetary/20170315b.htm

March 15, 2017 - Federal Reserve issues FOMC statement - Information received since the Federal Open Market Committee met in February indicates that the labor market has continued to strengthen and that economic activity has continued to expand at a moderate pace. www.federalreserve.gov/newsevents/press/monetary/20170315a.htm

March 13, 2017 - Comptroller Discusses the Value of International Collaboration and Bank Supervision - Comptroller of the Currency Thomas J. Curry today discussed the value of international collaboration and professional bank supervision during the Institute of International Bankers’ Annual Washington Conference. www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-30.html

March 13, 2017 - NCUA Issues 2016 Annual Report - The National Credit Union Administration released today its 2016 Annual Report, highlighting the agency’s activities, policy initiatives and accomplishments for 2016. www.ncua.gov/newsroom/Pages/news-2017-march-ncua-issues-2016-annual-report.aspx

March 13, 2017 - FDIC Enhances Tool to Prevent Elder Financial Exploitation - The Federal Deposit Insurance Corporation (FDIC) today announced enhancements to its Money Smart for Older Adults curriculum that provide new information and resources to help older adults and their caregivers avoid financial exploitation through fraud and scams. www.fdic.gov/news/news/press/2017/pr17021.html

March 13, 2017 - Raphael Bostic named president and chief executive officer of the Federal Reserve Bank of Atlanta - Raphael W. Bostic will become the 15th president and chief executive officer of the Federal Reserve Bank of Atlanta effective June 5, 2017, announced Thomas A. Fanning, chairman of the board of the Federal Reserve Bank of Atlanta. www.frbatlanta.org/news/pressreleases/atlantafed/2017/0313-atlanta-fed-names-bostic-new-president-and-ceo

March 10, 2017 - Comptroller Discusses the Condition of the Federal Banking System - Comptroller of the Currency Thomas J. Curry discussed the condition of the federal banking system during remarks at Central Connecticut State University last night. www.occ.gov/news-issuances/speeches/2017/pub-speech-2017-29.pdf 

March 10, 2017 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update - Since the beginning of the financial market turmoil in August 2007, the Federal Reserve's balance sheet has grown in size and has changed in composition. Total assets of the Federal Reserve have increased significantly from $869 billion on August 8, 2007, to well over $2 trillion.  www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

March 10, 2017 - Advance Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System will be held under expedited procedures at 10:00 AM on March 14, 2017. Matter to be considered: Discussion of Monetary Policy.  www.federalreserve.gov/aboutthefed/boardmeetings/20170314advexp.htm

March 10, 2017 - Federal Reserve Board seeks to fine and prohibit two former managing directors at J.P. Morgan Securities from employment in banking industry.  www.federalreserve.gov/newsevents/press/enforcement/20170310a.htm

March 9, 2017 - March Open Board Meeting Cancelled - The National Credit Union Administration Board will not hold an open meeting on March 16, as previously scheduled. www.ncua.gov/newsroom/Pages/news-2017-march-open-board-meeting-cancelled.aspx  _______________________

March 9, 2017 - Statistical Release - Financial Accounts of the United States - Z.1 - The Financial Accounts of the United States includes data on the flow of funds and levels of financial assets and liabilities, by sector and financial instrument; full balance sheets, including net worth, for households and nonprofit organizations, nonfinancial corporate businesses, and nonfinancial noncorporate businesses; Integrated Macroeconomic Accounts; and additional supplemental detail. www.federalreserve.gov/releases/z1/current/default.htm

March 8, 2017 - St. Louis Fed’s FRED Adds New County-Level Data - FRED® (Federal Reserve Economic Data), the signature economic database of the Federal Reserve Bank of St. Louis, has beefed up its U.S. county-level data. www.stlouisfed.org/news-releases/2017/03/08/st-louis-fed-fred-adds-new-county-level-data

March 7, 2017 - OCC Issues Second Quarter 2017 CRA Evaluation Schedule - The Office of the Comptroller of the Currency today released its schedule of Community Reinvestment Act (CRA) evaluations to be conducted in the second quarter of 2017. www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-28.html

March 7, 2017 - Supervisory Insights Journal: Winter 2016 Issue Now Available - The Winter 2016 issue of Supervisory Insights features an article of interest to bankers, examiners, and supervisors. "Credit Risk Trends and Supervisory Expectation Highlights" identifies trends in credit risk in commercial real estate, agriculture, and oil and gas-related lending. www.fdic.gov/news/news/financial/2017/fil17012.pdf

March 7, 2017 - FDIC's Supervisory Insights Winter Edition Focuses on Credit Risk - The Federal Deposit Insurance Corporation today issued "Credit Risk Trends and Supervisory Expectation Highlights," which appears in the Winter 2016 issue of Supervisory Insights. The article identifies trends in credit risk and emphasizes to bankers and examiners that now is the time to heed long-standing principles of sound risk-management practices. www.fdic.gov/news/news/press/2017/pr17020.html

March 7, 2017 - Statistical Release - Consumer Credit - G.19 - Statistical Release - In January, consumer credit increased at a seasonally adjusted annual rate of 2-3/4 percent. Revolving credit decreased at an annual rate of 4-1/2 percent, while nonrevolving credit increased at an annual rate of 5-1/2 percent. www.federalreserve.gov/releases/g19/current/default.htm

March 7, 2017 - Federal Reserve Board issues enforcement action with Platte Valley Bank.  www.federalreserve.gov/newsevents/press/enforcement/enf20170307a1.pdf

March 6, 2017 - Recent Declines in the Fed’s Longer-Run Economic Projections By Jonas D. M. Fisher , Christopher Russo - This Chicago Fed Letter investigates the evolution of longer-run economic projections made by participants of the Federal Reserve’s monetary policy committee, the Federal Open Market Committee, in its Summary of Economic Projections, and by the private sector. www.chicagofed.org/publications/chicago-fed-letter/2017/375

March 6, 2017 - NCUA: Q4 2016 Credit Union System Financial Performance Data Now Available - NCUA: Q4 2016 Credit Union System Financial Performance Data Now Available - The National Credit Union Administration today released the new credit union system financial performance figures based on Call Report data submitted to and compiled by the agency for the quarter ending Dec. 31, 2016. www.ncua.gov/newsroom/Pages/news-2017-march-q4-2016-credit-union-system-financial-performance-data-available.aspx

March 6, 2017 - NCUA’s Komyathy Again Named CFC Hero - Agency Receives Awards for Innovation and Website in Annual Charity Campaign - JeanMarie Komyathy, Deputy Director of the National Credit Union Administration’s Office of Small Credit Union Initiatives, was honored for the second time as a Hero of the Year by the Combined Federal Campaign of the National Capital Area. www.ncua.gov/newsroom/Pages/news-2017-march-komyathy-named-cfc-hero.aspx

March 6, 2017 - Comptroller Discusses Financial Technology Innovation - Comptroller of the Currency Thomas J. Curry today discussed financial technology innovation during a large industry conference. www.occ.gov/news-issuances/speeches/2017/pub-speech-2017-27.pdf

March 6, 2017 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at 11:15 AM on March 06, 2017. Matter considered: Review and determination by the Board of Governors of the advance and discount rates to be charged by the Federal Reserve Banks. www.federalreserve.gov/aboutthefed/boardmeetings/20170306exp.htm

March 3, 2017 - New St. Louis Fed Analysis Shows College Inadvertently Increases Racial and Ethnic Disparity in Income and Wealth - Despite generations of generally rising college-graduation rates, higher education’s promise of significantly reducing income and wealth disparities across all races and ethnicities remains largely unfulfilled, according to a new In the Balance report from the St. Louis Fed’s Center for Household Financial Stability. www.stlouisfed.org/news-releases/2017/03/analysis-shows-college-inadvertently-increases-racial-and-ethnic-disparity-in-income-and-wealth

March 3, 2017 - The Goldilocks Problem: How to get Incentives and Default Waterfalls “Just Right” By John W. McPartland , Rebecca Lewis - Regulatory reforms in the wake of the 2007–08 financial crisis have increased the focus on the systemic importance of central counterparties, which guarantee the performance of their clearing members’ financial contracts. www.chicagofed.org/publications/economic-perspectives/2017/1-mcpartland-lewis

March 3, 2017 - Banker Webinar on Revisions to the Consolidated Reports of Condition and Income - The federal banking agencies will conduct a webinar for bankers on March 8, 2017, to discuss the new FFIEC 051 Call Report for eligible small institutions and changes to the existing FFIEC 031 and FFIEC 041 Call Reports. www.fdic.gov/news/news/financial/2017/fil17011.html

March 3, 2017 - 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/2017/pr17018.html

March 3, 2017 - Cache Valley Bank, Logan, Utah, Assumes All of the Deposits of Proficio Bank, Cottonwood Heights, Utah - Proficio Bank, Cottonwood Heights, Utah, was closed today by the Utah Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Cache Valley Bank, Logan, Utah, to assume all of the deposits of Proficio Bank. www.fdic.gov/news/news/press/2017/pr17019.html

March 3, 2017 - FOIA - Chair Yellen's calendar, January 2017.  www.federalreserve.gov/foia/chairscalendar-012017.htm

March 3, 2017 - Janet L. Yellen,  Chair - From Adding Accommodation to Scaling It Back - At The Executives' Club of Chicago, Chicago, Illinois.  www.federalreserve.gov/newsevents/speech/yellen20170303a.pdf

March 3, 2017 - Stanley Fischer,  Vice Chairman - Monetary Policy: By Rule, By Committee, or By Both? - At the 2017 U.S. Monetary Policy Forum, sponsored by the Initiative on Global Markets at the University of Chicago Booth School of Business, New York, New York.  www.federalreserve.gov/newsevents/speech/fischer20170303c.pdf

March 3, 2017 - Jerome H. Powell,  Governor - Innovation, Technology, and the Payments System At Blockchain: The Future of Finance and Capital Markets? - The Yale Law School Center for the Study of Corporate Law, New Haven, Connecticut.   www.federalreserve.gov/newsevents/speech/powell20170303b.pdf

March 3, 2017 - Federal Reserve releases examples of new charts that illustrate uncertainty around monetary policymakers’ macroeconomic and interest rate projections.  www.federalreserve.gov/newsevents/press/monetary/20170303a.htm
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March 2, 2017 - OCC Hosts Credit Risk and Operational Risk Workshops in Phoenix - The Office of the Comptroller of the Currency will host two workshops at the Crowne Plaza Phoenix Airport in Phoenix, Ariz., April 11-12, for directors of national community banks and federal savings associations supervised by the OCC. www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-26.html

March 2, 2017 - Webinar on the New Consolidated Reports of Condition and Income for Small Institutions and Other Call Report Revisions Scheduled for March 8 - As the Federal Financial Institutions Examination Council previously advised, the federal banking agencies are implementing a new streamlined FFIEC 051 Call Report for eligible small institutions and other burden-reducing changes to the existing versions of the Call Report effective March 31, 2017. www.fdic.gov/news/news/financial/2017/fil17010.html

March 2, 2017 - Advance Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System will be held under expedited procedures at 12:00 PM on March 6, 2017. Matter to be considered: Review and determination by the Board of Governors of the advance and discount rates to be charged by the Federal Reserve Banks. www.federalreserve.gov/aboutthefed/boardmeetings/20170306advexp.htm

March 2, 2017 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at 9:30 AM on March 2, 2017. Matter considered: Periodic Supervisory Update. www.federalreserve.gov/aboutthefed/boardmeetings/20170302exp.htm

March 2, 2017 - Federal Reserve Board announces that it will not object to a resubmitted capital plan from Morgan Stanley - The Federal Reserve Board on Thursday announced that it will not object to a resubmitted capital plan from Morgan Stanley, as a result of progress made by the firm in addressing deficiencies identified by the Board in last year's Comprehensive Capital Analysis and Review.  www.federalreserve.gov/newsevents/press/bcreg/20170302a.htm

March 1, 2017 - Lael Brainard,  Governor - Transitions in the Outlook and Monetary Policy - At the John F. Kennedy School of Government, Harvard University, Cambridge, Massachusetts.   www.federalreserve.gov/newsevents/speech/brainard20170301a.htm

March 1, 2017 - Chicago Fed Survey of Business Conditions Shows Growth Picked Up in January and Early February - The Chicago Fed Survey of Business Conditions Activity Index increased to +4 from –13, suggesting that growth in economic activity picked up to a moderate pace in January and early February. The CFSBC Manufacturing Activity Index rose to +31 from +12, and the CFSBC Nonmanufacturing Activity Index moved up to –11 from –27. www.chicagofed.org/~/media/publications/cfsbc/2017/cfsbc-march2017-pdf.pdf

March 1, 2017 - NCUA - Providing Electronic Financial Services the Subject of Next NCUA Webinar - Register Now to Join the Conversation on March 22 - Electronic financial services are critical to success in the financial industry, and the National Credit Union Administration will host a webinar, “Pathways to Offering E-Services,” to help credit unions better understand how to put those services to work for their members. www.ncua.gov/newsroom/Pages/news-2017-march-providing-electronic-financial-services-ncua-webinar.aspx

March 1, 2017 - OCC Hosts Workshop for Bank Directors in Pittsburgh - The Office of the Comptroller of the Currency will host a workshop at the Pittsburgh Marriott City Center in Pittsburgh, Pa., April 10-12, for directors of national community banks and federal savings associations supervised by the OCC. www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-25.html

March 1, 2017 - 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 February 1, 2017 through February 28, 2017. www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-24.html 

March 1, 2017 - Emerging Trends in the U.S. and Colorado Economies By Alison Felix Economist & Branch Executive Federal Reserve Bank of Kansas City Denver Branch.  www.kansascityfed.org/~/media/files/publicat/speeches/2017/2017-felix-icba-03-01.pdf 

March 1, 2017 - Current FAQ What is the basic framework that determines the conduct of monetary policy? - Under the Federal Reserve Act, the Congress established a basic framework for the conduct of monetary policy that involves three key pillars: www.federalreserve.gov/faqs/basic-framework-determines-conduct-monetary-policy.htm

March 1, 2017 - Current FAQ What is the Summary of Economic Projections? - Four times a year, the Federal Reserve releases a summary of Federal Open Market Committee participants' projections for economic growth, unemployment, inflation, and policy interest rates over a three-year horizon and over the longer run, along with additional information regarding policymakers' views on the uncertainty and risks surrounding their economic forecasts. www.federalreserve.gov/faqs/summary-economic-projections-sep.htm

March 1, 2017 - Current FAQ What are the Minutes of the Federal Open Market Committee? - Detailed minutes of Federal Open Market Committee meetings are released three weeks after each meeting. www.federalreserve.gov/faqs/minutes-federal-open-market-committee-fomc.htm

March 1, 2017 - Current FAQ - Federal Open Market Committee meetings are not open to the public, so how do I know what the FOMC is doing? - The Federal Open Market Committee has greatly enhanced transparency surrounding the monetary policy process through a variety of mechanisms, including www.federalreserve.gov/faqs/federal-open-market-committee-fomc-not-public.htm

March 1, 2017 - Current FAQ What is the Federal Open Market Committee? - The Federal Open Market Committee is a committee within the Federal Reserve System that sets national monetary policy. www.federalreserve.gov/faqs/federal-open-market-committee-fomc.htm

March 1, 2017 - Current FAQ - Does the Federal Reserve tell the public what it holds on its balance sheet? - The Board publishes a quarterly report, the Quarterly Report on Federal Reserve Balance Sheet Developments, with detailed information about the balance sheet and the combined financial position and results of operations of the Reserve Banks. https://www.federalreserve.gov/faqs/federal-reserve-public-balance-sheet.htm

March 1, 2017 - Current FAQ Is the Fed's lending audited by the Congress? - The Congress established several mechanisms to enhance transparency and accountability for the Federal Reserve's emergency lending: www.federalreserve.gov/faqs/federal-reserve-lending-audited-by-congress.htm

March 1, 2017 - Current FAQ How can I learn more about the assets the Federal Reserve owns and the loans it makes to financial institutions? - The Federal Reserve provides a great deal of information to the public on a regular basis concerning all the basic tools of monetary policy, including open market operations and discount window lending. www.federalreserve.gov/faqs/assets-federal-reserve-owns-loans-it-makes-to-financial-institutions.htm

March 1, 2017 - Current FAQ What is the statement on longer-run goals and monetary policy strategy and why does the Federal Open Market Committee put it out? - In January 2012, the Federal Open Market Committee (FOMC) first published a "Statement on Longer-Run Goals and Monetary Policy Strategy." www.federalreserve.gov/faqs/statement-on-longer-run-goals-monetary-policy-strategy-FOMC.htm

March 1, 2017 - Beige Book - March 01, 2017 - This report was prepared at the Federal Reserve Bank of New York based on information collected on or before February 17, 2017.   www.federalreserve.gov/monetarypolicy/beigebook/beigebook201703.htm

March 1, 2017 - Ann Misback appointed new Secretary of the Board - The Federal Reserve Board on Wednesday announced the appointment of Ann Misback as its Secretary, effective April 2, 2017. www.federalreserve.gov/newsevents/press/other/20170301a.htm