R. Kinney Williams - Yennik, Inc.®
R. Kinney Williams
Yennik, Inc.

The Community Banker
Brought to you by Yennik, Inc. the acknowledged leader in Internet auditing for financial institutions.

 

The E-mail Banking News
(Bank Regulatory News)

May 201
7

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May 25, 2017 - Lessons Learned and Challenges Ahead - A speech delivered on May 25, 2017, before the Bank of Japan — Institute for Monetary and Economic Studies in Tokyo, Japan. www.chicagofed.org/publications/speeches/2017/05-25-lessons-learned-and-challenges-ahead-bank-of-japan 

May 25, 2017 - NCUA Issues Second Quarter Newsletter - Read the latest issue of The NCUA Report - The National Credit Union Administration released today the second quarter edition of its newsletter. www.ncua.gov/newsroom/Pages/news-2017-may-ncua-issues-second-quarter-newsletter.aspx

May 25, 2017 - NCUA - Board Proposes Rules on Mergers, Appeals = Stabilization Fund Reports Continued Positive Net Position - The National Credit Union Administration Board held its fourth open meeting of 2017 at the agency’s headquarters here today and unanimously approved three items: https://www.ncua.gov/newsroom/Pages/news-2017-may-board-proposes-rules-mergers-appeals.aspx

May 25, 2017 - Statement Before U.S. Senate Committee on Agriculture, Nutrition, and Forestry By Nathan Kauffman Assistant Vice President, Economist, and Omaha Branch Executive.   www.kansascityfed.org/~/media/files/publicat/speeches/2017/2017-kauffman-senateag-05-25.pdf

May 25, 2017 - FRB/US model packages update - The main FRB/US model package is a self-contained set of equations, data, programs and documentation that enables various types of simulations and provides information about the model's structure. www.federalreserve.gov/econres/us-models-package.htm

May 25, 2017 - Legal Developments - Section 19 letters, February 21, 23 (2 letters), March 1, and 2, 2017. www.federalreserve.gov/supervisionreg/ordersother2017.htm

May 25, 2017 - Federal Reserve Board issues enforcement action with SunTrust Bank.  www.federalreserve.gov/newsevents/pressreleases/enforcement20170525b.htm

May 25, 2017 - Federal Reserve Board announces termination of enforcement action with North Georgia Community Financial Partners, Inc. www.federalreserve.gov/newsevents/pressreleases/enforcement20170525a.htm

May 24, 2017 - FDIC-Insured Institutions Earn $44 Billion in First Quarter 2017 - Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation reported aggregate net income of $44 billion in the first quarter of 2017, up $5 billion (12.7 percent) from a year earlier. www.fdic.gov/news/news/press/2017/pr17039.html

May 24, 2017 - A Collateral Theory of Endogenous Debt Maturity - R. Matthew Darst and Ehraz Refayet - Abstract: This paper studies optimal debt maturity when firms cannot issue state contingent claims and must back promises with collateral. www.federalreserve.gov/econres/feds/files/2017057pap.pdf

May 24, 2017 - Safe Collateral, Arm's-Length Credit: Evidence from the Commercial Real Estate Mortgage Market - Lamont Black, John Krainer, and Joseph Nichols - Abstract: When collateral is safe, there are fewer opportunities for lenders to suffer economic losses. www.federalreserve.gov/econres/feds/files/2017056pap.pdf

May 24, 2017 - Goods-Market Frictions and International Trade - Pawel M. Krolikowski and Andrew H. McCallum - Abstract: We present a tractable framework that embeds goods-market frictions in a general equilibrium dynamic model with heterogeneous exporters and identical importers. www.federalreserve.gov/econres/ifdp/files/ifdp1207.pdf

May 24, 2017 - Minutes of the Federal Open Market Committee, May 2-3, 2017 - The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on May 2-3, 2017. www.federalreserve.gov/newsevents/pressreleases/monetary20170524a.htm

May 23, 2017 - Changes in the Risk-Management Environment for Monetary Policy By Jonas D. M. Fisher , François Gourio , Spencer Krane - In response to the massive challenges presented by the global financial crisis, in late 2007 the Federal Open Market Committee began a series of large reductions in its traditional policy tool, the overnight interest rate in the federal funds market. www.chicagofed.org/publications/chicago-fed-letter/2017/377

May 23, 2017 - Toward a More Resilient Financial System - A speech delivered on May 23, 2017, before the Shanghai Symposium on OTC Derivatives in Shanghai, China.   www.chicagofed.org/publications/speeches/2017/05-23-toward-a-more-resilient-financial-system-shanghai

May 23, 2017 - NCUA - 25 Credit Unions Agree to Late-Filing Penalties for Fourth Quarter 2016 - Twenty-five federally insured credit unions subject to civil monetary penalties for filing late Call Reports in the fourth quarter of 2016 have consented to penalties totaling $10,365, the National Credit Union Administration announced today. www.ncua.gov/newsroom/Pages/news-2017-may-late-filers.aspx

May 23, 2017 - Michael Sullivan Named Senior Deputy Comptroller for Economics - Acting Comptroller of the Currency Keith A. Noreika today announced that Michael Sullivan will become the agency’s Senior Deputy Comptroller for Economics on June 11, 2017. www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-59.html

May 23, 2017 - The Role of Transfer Prices in Profit-Shifting by U.S. Multinational Firms: Evidence from the 2004 Homeland Investment Act - Aaron Flaaen.  www.federalreserve.gov/econres/feds/files/2017055pap.pdf

May 23, 2017 - Comparative Advantage in Innovation and Production - Mariano Somale - This paper develops a multi-country, general equilibrium, semi endogenous growth model of innovation and trade in which specialization in innovation and production are jointly determined. www.federalreserve.gov/econres/ifdp/files/ifdp1206.pdf 

May 22, 2017 - U.S. and Oklahoma Economic Outlook By Chad Wilkerson - Conference of Accountants. www.kansascityfed.org/~/media/files/publicat/speeches/2017/2017-wilkerson-tulsa-accountants-5-17.pdf

May 22, 2017 - Dialogue with the Fed to Address “Does College Level the Playing Field?” -  Is college the "great equalizer" that opens up economic opportunity for lower-income, disadvantaged, and minority families?   www.stlouisfed.org/news-releases/2017/05/22/dialogue-with-the-fed-to-address-does-college-level-the-playing-field

May 22, 2017 - Payment Systems - Interchange Fee Standards: Small Issuer Exemption - To facilitate compliance with the debit card interchange fee standards in the Board's Regulation II, 12 CFR part 235 (which implements section 920 of the Electronic Fund Transfer Act), the Board is publishing two lists of institutions using data available to the Board. www.federalreserve.gov/paymentsystems/regii-interchange-fee-standards.htm 

May 22, 2017 - Speech by Governor Brainard on why opportunity and inclusion matter to America’s economic strength Governor Lael Brainard. www.federalreserve.gov/newsevents/speech/brainard20170522a.htm

May 22, 2017 - Minority-Owned Banks and Their Primary Local Market Areas By Maude Toussaint-Comeau , Robin Newberger.   www.chicagofed.org/publications/economic-perspectives/2017/4

May 22, 2017 - Chicago Fed National Activity Index - Index points to increased economic growth in April - Led by improvements in production-related indicators, the Chicago Fed National Activity Index rose to +0.49 in April from +0.07 in March. www.chicagofed.org/~/media/publications/cfnai/2017/cfnai-may2017-pdf.pdf

May 22, 2017 - NCUA: Be Sure Your Cyber Defenses are Ready - In the wake of the “WannaCry” global ransomware attack, the National Credit Union Administration reminds federally insured credit unions to verify they have effective controls in place to prevent similar attacks. www.ncua.gov/newsroom/Pages/news-2017-may-cybersecurity-preparedness.aspx

May 19, 2017 - OCC Enforcement Actions and Terminations for May 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-2017-58.html

May 19, 2017 - Health Care is Community Reinvestment: Examples from the Mental Health Field By Marva Williams , Desiree Hatcher - Places with thriving local economies, decent schools, quality public amenities, lower crime rates, and high civic engagement and employment levels tend to have healthier, longer-lived populations, and less incidence of mental illness. www.chicagofed.org/publications/profitwise-news-and-views/2017/health-care-is-community-reinvestment-examples-from-the-mental-health-field

May 19, 2017 - Market Failure and Community Economic Development in the US By James L. Greer , Oscar Gonzales - The community development movement in the United States has stepped into markets where economic and social disadvantage co-exist. www.chicagofed.org/publications/profitwise-news-and-views/2017/market-failure-and-community-economic-development-in-the-us

May 19, 2017 - Tracking Detroit’s Economic Recovery After Bankruptcy with a New Index - By Scott A. Brave , Paul Traub - This article presents evidence that Detroit’s economy is doing noticeably better than before the city filed for bankruptcy in July 2013. In order to track the city’s economic recovery following its bankruptcy, we use a new index that quantifies Detroit’s overall economic performance from 1998 to the present. www.chicagofed.org/publications/chicago-fed-letter/2017/376

May 19, 2017 - St. Louis Fed's Bullard Discusses Recent Developments in U.S. Monetary Policy - Federal Reserve Bank of St. Louis President James Bullard addressed “Recent Developments in U.S. Monetary Policy” during his presentation at an event hosted Friday by the Association for Corporate Growth at Washington University in St. Louis. www.stlouisfed.org/news-releases/2017/05/19/bullard-discusses-recent-developments 

May 19, 2017 - Credit and Liquidity Programs and the Balance Sheet - Federal Reserve Banks Combined Quarterly Financial Reports - The quarterly financial reports present summary financial information on the combined financial position and results of operations of the Reserve Banks. www.federalreserve.gov/aboutthefed/files/quarterly-report-20170331.pdf

May 19, 2017 - Federal Reserve imposes $1.2 million fine and permanent ban on employment against former Barclays Bank PLC employee - The Federal Reserve Board on Friday announced that it has imposed a $1.2 million fine and a permanent ban on employment in the banking industry against Christopher Ashton, the former Global Head of Foreign Exchange Spot Trading at Barclays Bank PLC, in connection with the manipulation of FX pricing benchmarks. www.federalreserve.gov/newsevents/pressreleases/enforcement20170519a.htm

May 19, 2017 - Federal Reserve Board issues Report on the Economic Well-Being of U.S. Households - Americans' overall financial well-being in 2016 continued on a modest upward path, although the improvement was less pronounced for those with less education, according to the Federal Reserve Board's latest Report on the Economic Well-Being of U.S. www.federalreserve.gov/newsevents/pressreleases/other20170519a.htm

May 18, 2017 - U.S. and Oklahoma Economic Outlook By Megan Williams Associate Economist & Manger, Oklahoma City Branch Federal Reserve Bank of Kansas City.   www.kansascityfed.org/~/media/files/publicat/speeches/2017/2017-williams-afp-05-17.pdf

May 18, 2017 - Deposit Insurance Coverage Seminars - Free Nationwide Seminars for Bank Officers and Employees - The FDIC will conduct four identical live seminars on FDIC deposit insurance coverage for bank employees and bank officers between June 6, 2017, and December 4, 2017. www.fdic.gov/news/news/financial/2017/fil17018.html

May 18, 2017 - Bank Fees, Aftermarkets, and Consumer Behavior - Robert M. Adams - Fees for banking services have been a policy concern for over 20 years and the subject of several government agencies studies, which focused on the magnitude, incidence, or disclosure of such fees. www.federalreserve.gov/econres/feds/2017.htm#2017054

May 18, 2017 - Charge-Off and Delinquency Rates on Loans and Leases at Commercial Banks.  www.federalreserve.gov/releases/chargeoff/

May 18, 2017 - Capital taxation with heterogeneous discounting and collateralized borrowing - Nina Biljanovska and Alexandros P. Vardoulakis - We study optimal long-run capital taxation in a closed economy with heterogeneity in agents' time-discount factors where borrowing is allowed but restricted by a collateral constraint. www.federalreserve.gov/econres/feds/files/2017053pap.pdf

May 18, 2017 - Federal Reserve announces results of offering of seven-day term deposits on May 18 - On May 18, 2017, the Federal Reserve conducted a floating-rate offering of term deposits through its Term Deposit Facility. www.federalreserve.gov/newsevents/pressreleases/monetary20170518a.htm
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May 17, 2017 - Weathering the Storm: Oklahoma’s Economy and Housing Markets By Chad Wilkerson Oklahoma City Branch Executive & Economist Federal Reserve Bank of Kansas City - Oklahoma Coalition for Affordable Housing www.kansascityfed.org/~/media/files/publicat/speeches/2017/2017-wilkerson-housing-coalition-05-17.pdf

May 17, 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 May 17, 2017. Matter considered: Periodic Supervisory Update. www.federalreserve.gov/aboutthefed/boardmeetings/20170517closed.htm

May 17, 2017 - Take it to the Limit: The Debt Ceiling and Treasury Yields - David Cashin, Erin Syron Ferris, Beth Klee, and Cailey Stevens - Abstract: We use the 2011 and 2013 U.S. debt limit impasses to examine the extent to which investors react to a heightened possibility of financial contagion. www.federalreserve.gov/econres/feds/files/2017052pap.pdf

May 17, 2017 - NCUA - April 2017 NCUA Board Meeting Video Available - The video recording of the April 20, 2017, open meeting of the National Credit Union Administration Board is now available on the agency’s website.  Archived videos of past Board meetings may be viewed here, and each video remains on the site for one year. www.ncua.gov/newsroom/Pages/news-2017-may-april-board-meeting-video-available.aspx

May 17, 2017 - NCUA Accepting Community Development Grant Applications Beginning July 1 - Approximately $2 Million Available; NCUA Hosting June 14 Webinar with Details - Low-income credit unions interested in applying for Community Development Revolving Loan Fund grants can begin submitting applications on July 1, the National Credit Union Administration announced today. www.ncua.gov/newsroom/Pages/news-2017-may-ncua-accepting-grant-applications.aspx

May 16, 2017 - OCC Hosts Atlanta Workshop for Board Directors and Now for Bank Management - The Office of the Comptroller of the Currency will host a workshop in Atlanta at the Sheraton Atlanta Hotel, June 26-28, for directors, senior management team members and other key executives of national community banks and federal savings associations supervised by the OCC. www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-57.html

May 16, 2017 - Statistical Release - Industrial Production and Capacity Utilization - G.17 - Industrial production advanced 1.0 percent in April for its third consecutive monthly increase and its largest gain since February 2014. Manufacturing output rose 1.0 percent as a result of widespread increases among its major industries. www.federalreserve.gov/releases/g17/Current/default.htm

May 15, 2017 - AgLetter Reports Midwest Farmland Values Flat in the First Quarter - In the first quarter of 2017, agricultural land values for the Seventh Federal Reserve District were unchanged from a year ago—the first pause in the current downturn since the third quarter of 2015. www.chicagofed.org/publications/agletter/2015-2019/may-2017

May 15, 2017 - Lessons Learned Along the Way By Esther George President and Chief Executive Officer Federal Reserve Bank of Kansas City.  www.kansascityfed.org/~/media/files/publicat/speeches/2017/2017-george-umkc-05-12.pdf

May 15 2017 - Kiddynomics Program Teaches Economics to Thousands of Young Learners in Arkansas - Economic education lessons created by the Federal Reserve Bank of St. Louis have helped teach more than 2,500 northwest Arkansas pre-schoolers in the past year about saving, spending and other personal finance topics. www.stlouisfed.org/news-releases/2017/05/15/kiddynomics-program-teaches-economics-to-thousands-of-young-learners-in-arkansas

May 15, 2017 - International Reserves, Credit Constraints, and Systemic Sudden Stops - Samer F. Shousha - Why do emerging market economies simultaneously hold very high levels of international reserves and foreign liabilities? www.federalreserve.gov/econres/ifdp/files/ifdp1205.pdf

May 15, 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 May 17, 2017. Matter to be considered: Periodic Supervisory Update. www.federalreserve.gov/aboutthefed/boardmeetings/20170517closed.htm

May 15, 2017 - Are Central Cities Poor and Non-White? - Jenny Schuetz, Arturo Gonzalez, Jeff Larrimore, Ellen A. Merry, and Barbara J. Robles - In the U.S., geography has long been viewed as a proxy for income and race. The terms central city or "inner city" are often used as a short-hand for poor and minority neighborhoods, particularly African-American, while suburban dwellers are assumed to be affluent and white (Jargowsky 1997; Wilson 1987). www.federalreserve.gov/econres/notes/feds-notes/are-central-cities-poor-and-non-white-20170515.htm
 
May 15, 2017 - Milton Friedman and Data Adjustment - Neil R. Ericsson, David F. Hendry, and Stedman B. Hood - When empirically modelling the U.S. demand for money, Milton Friedman more than doubled the observed initial stock of money to account for a "changing degree of financial sophistication" in the United States relative to the United Kingdom. www.federalreserve.gov/econres/notes/ifdp-notes/milton-friedman-and-data-adjustment-20170515.htm

May 12, 2017 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update.  www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm
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May 11, 2017 - Federal Reserve Board announces termination of enforcement action First Carolina Bancshares, M.H.C. www.federalreserve.gov/newsevents/pressreleases/enforcement20170511a.htm

May 11, 2017 - Federal Reserve to offer seven-day term deposits on May 18 - The Federal Reserve plans to continue its previously announced periodic testing of the Term Deposit Facility with one operation in May. www.federalreserve.gov/newsevents/pressreleases/monetary20170511a.htm

May 10, 2017 - National Financial Conditions Indexes Edged Lower in April - The Chicago Fed’s National Financial Conditions Index (NFCI) provides a comprehensive weekly update on U.S. financial conditions in money markets, debt and equity markets and the traditional and “shadow” banking systems. www.chicagofed.org/publications/nfci/index

May 9, 2017 - Acting Comptroller of the Currency Addresses the Agency’s Mutual Savings Association Advisory Committee - Acting Comptroller of the Currency Keith A. Noreika discussed the importance of mutual savings associations and community banks to the federal banking system during remarks at today’s meeting of the Office of the Comptroller of the Currency’s Mutual Savings Association Advisory Committee. www.occ.gov/news-issuances/speeches/2017/pub-speech-2017-55.pdf

May 9, 2017 - Emerging Trends in the U.S. and Colorado Economies By Sam Chapman Assistant Economist Federal Reserve Bank of Kansas City Denver Branch.   www.kansascityfed.org/~/media/files/publicat/speeches/2017/2017-co-pensioncoalition-04-09.pdf

May 9, 2017 - Minority-Owned Banks and Their Primary Local Market Areas By Maude Toussaint-Comeau , Robin Newberger - The disproportionate impact of the recent financial crisis and housing market shocks on racial and ethnic minority neighborhoods has prompted researchers to revisit economic issues that relate to financial inclusion and the role of minority depository institutions and community development financial institutions, whose missions often include the promotion of financial services and credit in traditionally underserved communities (Reuben, 2010; Phillips, 2010; Rugh and Massey, 2010; and Kashian, McGregory, and McCrank, 2014). www.chicagofed.org/publications/economic-perspectives/2017/4

May 9, 2017 - The Event-Study Activity Puzzle - By Jeffrey R. Campbell , Jonas D. M. Fisher , Alejandro Justiniano , Leonardo Melosi - If news of higher future interest rates reflects a shift in the stance of monetary policy, then we expect it to lower projections for real gross domestic product growth and raise projections for unemployment. www.chicagofed.org/publications/economic-perspectives/2017/3

May 9, 2017 - Evaluating the Balance of Economic Risks and Monetary Policy By Esther George President and Chief Executive Officer Federal Reserve Bank of Kansas City.   www.kansascityfed.org/~/media/files/publicat/speeches/2017/2017-george-santabarbara-05-09.pdf

May 8, 2017 - U.S. and Oklahoma Economic Outlook By Chad Wilkerson Oklahoma City Branch Executive & Economist Federal Reserve Bank of Kansas City.   www.kansascityfed.org/~/media/files/publicat/speeches/2017/2017-wilkerson-broken-arrow-rotary-05-17.pdf

May 8, 2017 - NCUA Launches Small Credit Union Learning Management Service - New Service, Available 24/7, Tailors Training to Credit Union Needs - Credit union boards, staff and volunteers can connect more easily to essential training specific to their needs with a new portal provided by the National Credit Union Administration’s Office of Small Credit Union Initiatives. www.ncua.gov/newsroom/Pages/news-2017-may-ncua-launches-small-credit-union-learning-management-service.aspx

May 8, 2017 - St. Louis Fed's Bullard Discusses the Decline in the Natural Real Rate of Interest - Federal Reserve Bank of St. Louis President James Bullard discussed reasons for the downward trend in the natural real rate of interest during a presentation Monday at the Federal Reserve Bank of Atlanta’s 22nd Annual Financial Markets Conference. www.stlouisfed.org/news-releases/2017/05/08/bullard-discusses-decline

May 8, 2017 - Senior Loan Officer Opinion Survey on Bank Lending Practices - Survey of up to eighty large domestic banks and twenty-four U.S. branches and agencies of foreign banks. The Federal Reserve generally conducts the survey quarterly, timing it so that results are available for the January/February, April/May, August, and October/November meetings of the Federal Open Market Committee. www.federalreserve.gov/data/sloos/sloos.htm

May 5, 2017 - OCC Appoints Receiver for Guaranty Bank, Glendale, Wisconsin, Which Also Conducts Business as BestBank - The Office of the Comptroller of the Currency today appointed the Federal Deposit Insurance Corporation as receiver for Guaranty Bank, Glendale, Wisconsin, a federal savings association. Guaranty Bank had branch offices in Wisconsin, Minnesota, Illinois, Michigan and Georgia, and conducted its business in Michigan and Georgia under the name BestBank. www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-54.html

May 5, 2017 - San Francisco Fed Forms Twelfth District Community Advisory Council - The Federal Reserve Bank of San Francisco has launched the Twelfth District Community Advisory Council, a group composed of leaders of nonprofit and community organizations from throughout the Bank’s district. www.frbsf.org/our-district/press/news-releases/2017/sf-fed-forms-twelfth-district-community-advisory-council/

May 5, 2017 - SF Fed’s Williams to Economists: Now is Ideal Time to Consider Alternative Monetary Policy Frameworks - Today, John C. Williams, president and CEO of the Federal Reserve Bank of San Francisco, told a gathering of economists at the Shadow Open Market Committee that it is an ideal time for central banks across the world to reexamine which monetary policy frameworks and strategies are likely to be most effective in a post-recovery world where natural rates of interest are at historical lows across the globe (and are likely to stay there for the foreseeable future) www.frbsf.org/our-district/press/news-releases/2017/sf-feds-williams-to-economists-now-is-ideal-time-to-consider-alternative-monetary-policy-frameworks/

May 5, 2017 - St. Louis Fed Ranks High in Diversity and Inclusion - The Federal Reserve Bank of St. Louis has been recognized for its diverse and inclusive workplace culture. www.stlouisfed.org/news-releases/2017/05/05/st-louis-fed-ranks-high-in-diversity-and-inclusion

May 5, 2017 - St. Louis Fed Honors Local Teacher - Rodney Gerdes has been named the first recipient of the Economic Educator Advisory Board Educator of the Year Award from the Federal Reserve Bank of St. Louis. www.stlouisfed.org/news-releases/2017/05/05/st-louis-fed-honors-local-teacher-rodney-gerdes

May 5, 2017 - Measuring the Severity of Stress-Test Scenarios - Bora Durdu, Rochelle Edge, and Daniel Schwindt - Unfavorable macroeconomic and financial scenarios are a core element of bank stress tests, and the degree to which variables deteriorate in a scenario--i.e., the scenario's severity--is a central design feature of any stress test exercise. www.federalreserve.gov/econres/notes/feds-notes/measuring-the-severity-of-stress-test-scenarios-20170505.htm

May 5, 2017 - Internal Liquidity Management and Local Credit Provision - Nicholas Coleman, Ricardo Correa, Leo Feler, and Jason Goldrosen - This paper studies the patterns of internal liquidity management and their effect on bank lending, using a novel branch-level dataset of Brazilian banks. www.federalreserve.gov/econres/ifdp/files/ifdp1204.pdf

May 5, 2017 - GDP Trend-cycle Decompositions Using State-level Data - Manuel Gonzalez-Astudillo - This paper develops a method for decomposing GDP into trend and cycle exploiting the cross-sectional variation of state-level real GDP and unemployment rate data. www.federalreserve.gov/econres/feds/files/2017051pap.pdf

May 5, 2017 - The Decline in Asset return Predictability and Macroeconomic Volatility - Alex Hsu, Francisco Palomino, and Charles Qian - We document strong U.S. stock and bond return predictability from several macroeconomic volatility series before 1982, and a significant decline in this predictability during the Great Moderation. www.federalreserve.gov/econres/feds/files/2017050pap.pdf

May 5, 2017 - Borrowers in Search of Feedback: Evidence from Consumer Credit Markets - Inessa Liskovich and Maya Shaton Abstract: We study recent technological innovation in credit markets and document their role in providing information to households. www.federalreserve.gov/econres/feds/files/2017049pap.pdf

May 5, 2017 - Speech by Vice Chairman Fischer on committee decisions and monetary policy rules.  www.federalreserve.gov/newsevents/speech/fischer20170505a.htm

May 5, 2017 - Speech by Chair Yellen on 125 years of women's participation in the economy Chair Janet L. Yellen.  www.federalreserve.gov/newsevents/speech/yellen20170505a.htmB
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May 4, 2017 - OCC Appoints Six New Members to Mutual Savings Association Advisory Committee - The MSAAC’s role includes assessing the condition of mutual savings associations, regulatory changes or other steps the OCC may take to ensure the health and vitality of mutual savings associations, and other issues of concern to these institutions. www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-53.html

May 4, 2017 - Daylight Overdrafts and Fees - Quarterly data updates.  www.federalreserve.gov/paymentsystems/psr_data.htm

May 4, 2017 - Federal Reserve Board announces termination of enforcement actions with Four Oaks Bank & Trust Company, TransPecos Financial Corp, and TransPecos Banks.   www.federalreserve.gov/newsevents/pressreleases/enforcement20170504a.htm

May 3, 2017 - Thomas J. Curry to Step Down May 5, Keith A. Noreika to Serve as Acting Comptroller of the Currency - Comptroller of the Currency Thomas J. Curry will step down on May 5, 2017, and Keith A. Noreika will serve as Acting Comptroller of the Currency. www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-52.html

May 3, 2017 - NCUA Legal Recoveries Reach $5.1 Billion - NCUA Recovers $400 Million from Credit Suisse - Legal recoveries by the National Credit Union Administration on behalf of five failed corporate credit unions that purchased residential mortgage-backed securities have reached $5.1 billion, the agency announced today. www.ncua.gov/newsroom/Pages/news-2017-may-ncua-legal-recoveries-reach-5-billion.aspx

May 3, 2017 - NCUA Consulting Assistance Nominations Due May 31 - Qualified credit unions interested in applying for consulting assistance from the National Credit Union Administration have until May 31 to submit nominations, the agency announced today. www.ncua.gov/newsroom/Pages/news-2017-may-ncua-consulting-assistance-nominations-due-may-31.aspx

May 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/pr17036.html

May 3, 2017 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at 1:00 PM on May 2, 2017 and 9:00 AM on May 3, 2017. Matter considered: Discussion of Monetary Policy Issues. www.federalreserve.gov/aboutthefed/boardmeetings/20170502closed.htm

May 3, 2017 - Federal Reserve issues FOMC statement - Information received since the Federal Open Market Committee met in March indicates that the labor market has continued to strengthen even as growth in economic activity slowed. www.federalreserve.gov/newsevents/pressreleases/monetary20170503a.htm

May 2, 2017 - OCC Releases CRA Evaluations for 18 National Banks and Federal Savings Associations - The Office of the Comptroller of the Currency today released a list of Community Reinvestment Act (CRA) performance evaluations that became public during the period of April 1, 2017 through April 30, 2017. www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-51.html

May 2, 2017 - OCC Announces New Deputy Comptrollers in Midsize and Community Bank Supervision - The Office of the Comptroller of the Currency today announced the selection of Scott Schainost to be Deputy Comptroller for Midsize Bank Supervision and Troy Thornton to be Deputy Comptroller for the OCC’s Southern District. www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-50.html

May 1, 2017 - NCUA Recovers $445 Million in UBS Suit - Agency’s Litigation Efforts Have Resulted in Nearly $4.8 Billion in Recoveries - The National Credit Union Administration, on behalf of U.S. Central Federal Credit Union and Western Corporate Federal Credit Union, has received $445 million from UBS for claims arising from losses related to purchases of residential mortgage-backed securities by those corporate credit unions. www.ncua.gov/newsroom/Pages/news-2017-may-ncua-recovers-$446-million.aspx

May 1, 2017 - Stork Appointed to FFIEC State Liaison Committee - The Federal Financial Institutions Examination Council today announced the appointment of Judi Stork to the Council's State Liaison Committee. Stork’s SLC nomination was confirmed by the Council for a two-year term starting May 1, 2017, and continuing through April 30, 2019. www.ffiec.gov/press/pr050117_1.htm

May 1, 2017 - Gonzales Elected as State Liaison Committee Chairman - The Federal Financial Institutions Examination Council’s State Liaison Committee today announced the election of Greg Gonzales as its Chairman. www.ffiec.gov/press/pr050117.htm

May 1, 2017 - FDIC Releases Final Handbook for De Novo Organizers Applying for Deposit Insurance - The Federal Deposit Insurance Corporation today released a final handbook to assist parties interested in establishing new banks. As part of the FDIC's ongoing commitment to work with organizers, the handbook – Applying for Deposit Insurance – A Handbook for Organizers of De Novo Institutions.   www.fdic.gov/news/news/press/2017/pr17035.html

May 1, 2017 - Bank Holding Companies/Savings and Loan Holding Companies/Change in Control - 2017 Letters.  www.federalreserve.gov/supervisionreg/legalinterpretations/bhc_changeincontrol2017.htm

May 1, 2017 - Foreign Exchange Rates - G.5 - Make Full Screen - The table below shows the average rates of exchange in APRIL 2017 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

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