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May 31, 2018 - NCUA Issues Second Quarter Newsletter - The National Credit Union Administration released today the second quarter edition of its online newsletter. www.ncua.gov/newsroom/Pages/news-2018-may-ncua-issues-second-quarter-newsletter.aspx May 31, 2018 - FDIC Issues CRA Examination Schedules for Third and Fourth Quarter 2018 - - The Federal Deposit Insurance Corporation today issued the lists of institutions scheduled for a Community Reinvestment Act examination during the third and fourth quarters of 2018. www.fdic.gov/news/news/press/2018/pr18032.html May 31, 2018 - 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 12:00 p.m. on June 4, 2018. Matter(s) 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/20180604closed.htm May 31, 2018 - Speech by Governor Lael Brainard on sustaining full employment and inflation around target www.federalreserve.gov/newsevents/speech/brainard20180531a.htm ________________ May 31, 2018 - Midwest Economy Index - Index points to little change in Midwest economic growth in April - The Midwest Economy Index ticked up to +0.53 in April from +0.52 in March. www.chicagofed.org/~/media/publications/mei/2018/mei-april2018-pdf.pdf May 31, 2018 - NCUA Issues Prohibition Notices - The National Credit Union Administration issued two notices of prohibition in May. These individuals are prohibited from participating in the affairs of any federally insured financial institution. www.ncua.gov/newsroom/Pages/news-2018-may-ncua-issues-prohibition-notices.aspx May 31, 2018 - FDIC Issues CRA Examination Schedules for Third and Fourth Quarter 2018. www.fdic.gov/news/news/press/2018/pr18032.html May 30, 2018 - Chicago Fed Survey of Business Conditions - Survey shows growth increased in April and early May - The Chicago Fed Survey of Business Conditions Activity Index moved up to +18 from +6, suggesting that growth in economic activity remained at a moderate pace in April and early May. www.chicagofed.org/~/media/publications/cfsbc/2018/cfsbc-may2018-pdf.pdf May 30, 2018 - NCUA Will Host Grant Initiatives Webinar - Low-income credit unions interested in applying for Community Development Revolving Loan Fund grants this year can obtain valuable information on an upcoming webinar hosted by the National Credit Union Administration. www.ncua.gov/newsroom/Pages/news-2018-may-ncua-host-grant-initiatives-webinar.aspx May 30, 2018 - Board Meetings - Open meeting memoranda. www.federalreserve.gov/aboutthefed/boardmeetings/20180530open.htm May 30, 2018 - Beige Book - Informal review by the Federal Reserve Banks of current economic conditions in their Districts - This report was prepared at the Federal Reserve Bank of Cleveland based on information collected on or before May 21, 2018. www.federalreserve.gov/monetarypolicy/beigebook201805.htm May 30, 2018 - Statistical Release - Finance Companies - G.20. www.federalreserve.gov/releases/g20/current/ May 30, 2018 - Federal Reserve Board asks for comment on proposed rule to simplify and tailor compliance requirements relating to the "Volcker rule" - By statute, the Volcker rule generally prohibits banking entities from engaging in proprietary trading and from owning or controlling hedge funds or private equity funds. www.federalreserve.gov/newsevents/pressreleases/bcreg20180530a.htm May 29, 2018 - St. Louis Fed's Bullard Discusses "A Cautionary Note on U.S. Monetary Policy Normalization" - Federal Reserve Bank of St. Louis President James Bullard discussed “A Cautionary Note on U.S. Monetary Policy Normalization” on Tuesday at the Japan Center for International Finance’s Global Finance Seminar. www.stlouisfed.org/news-releases/2018/05/29/bullard-a-cautionary-note May 29, 2018 - A Tale of Two Sectors: Why is Misallocation Higher in Services than in Manufacturing? - Daniel A. Dias, Carlos Robalo Marques, and Christine Richmond - Recent empirical studies document that the level of resource misallocation in the service sector is significantly higher than in the manufacturing sector. www.federalreserve.gov/econres/ifdp/files/ifdp1229.pdf May 29, 2018 - Financial Institutions' Business Models and the Global Transmission of Monetary Policy - Isabel Argimon, Clemens Bonner, Ricardo Correa, Patty Duijm, Jon Frost, Jakob de Haan, Leo de Haan, and Viktors Stevunovs - Global financial institutions play an important role in channeling funds across countries and, therefore, transmitting monetary policy from one country to another. www.federalreserve.gov/econres/ifdp/files/ifdp1228.pdf May 29, 2018 - Minutes of the Board's discount rate meetings from April 23 and May 2, 2018. www.federalreserve.gov/newsevents/pressreleases/monetary20180529a.htm May 25, 2018 - Monetary Policy and the Crosswinds of Change - A speech delivered on May 25, 2018, before the joint Federal Reserve Bank of Atlanta and Federal Reserve Bank of Dallas conference, Technology-Enabled Disruption: Implications for Business, Labor Markets and Monetary Policy, in Dallas, TX. www.chicagofed.org/publications/speeches/2018/05-25-2018-monetary-policy-and-crosswinds-of-change-dallas May 25, 2018 - FDIC Makes Public April Enforcement Actions - The Federal Deposit Insurance Corporation today released a list of orders of administrative enforcement actions taken against banks and individuals in April. www.fdic.gov/news/news/press/2018/pr18031.html May 25, 2018 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm May 25, 2018 - Speech by Chairman Powell on financial stability and central bank transparency - At "350 years of Central Banking: The Past, the Present and the Future," A Sveriges Riksbank anniversary conference sponsored by the Riksbank and the Riksdag, Stockholm, Sweden www.federalreserve.gov/newsevents/speech/powell20180525a.htm May 25, 2018 - FOMC announces tentative meeting schedule for 2019. www.federalreserve.gov/newsevents/pressreleases/monetary20180525a.htm May 24, 2018 - NCUA Wants to Expand Payday Lending Alternatives for Credit Unions, Consumers - Federal credit union members could have more options for short-term, small-dollar borrowing under a rule proposed today by the National Credit Union Administration Board. www.ncua.gov/newsroom/Pages/news-2018-may-expand-payday-lending-alternatives-credit-unions-consumers.aspx May 24, 2018 - Comptroller of the Currency Congratulates Jelena McWilliams on Her Confirmation as Chairman of the Federal Deposit Insurance Corporation - Comptroller of the Currency Joseph M. Otting released the following statement on the U.S. Senate’s confirmation of Jelena McWilliams as Chairman of the Federal Deposit Insurance Corporation. www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-53.html May 24, 2018 - OCC Report Highlights Key Risks for Federal Banking System - The Office of the Comptroller of the Currency today reported credit, operational, compliance, and interest rate risks are key themes for the federal banking system in its Semiannual Risk Perspective for Spring 2018. www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-52.html May 24, 2018 - Tenth District Manufacturing Activity Continued to Expand Rapidly - The Federal Reserve Bank of Kansas City released the May Manufacturing Survey today. According to Chad Wilkerson, vice president and economist at the Federal Reserve Bank of Kansas City, the survey revealed that Tenth District manufacturing activity continued to expand at a rapid pace, and optimism remained high for future activity. www.kansascityfed.org/~/media/files/publicat/research/indicatorsdata/mfg/2018/2018may24mfg.pdf _______________________________ May 24, 2018 - NCUA - Board Proposes Second Payday Alternative Loan Option, Seeks Comment on a Third - Share Insurance Fund Posts $33.1 Million Net Income in First Quarter - The National Credit Union Administration Board held its fifth open meeting of 2018 at the agency's headquarters today and unanimously approved two items: www.ncua.gov/newsroom/Pages/news-2018-may-board-proposes-second-payday-alternative-loan-option.aspx May 23, 2018 - NCUA�s CDFI Streamlined Application Period Opens June 4 - Low-income federally insured credit unions interested in becoming certified community development financial institutions can apply to use the National Credit Union Administration�s streamlined application process beginning June 4. www.ncua.gov/newsroom/Pages/news-2018-may-cdfi-streamlined-application-period-opens-june.aspx May 23, 2018 - Installment Lending: Core Lending Principles for Short-Term, Small-Dollar Installment Lending - The Office of the Comptroller of the Currency encourages banks to offer responsible short-term, small-dollar installment loans, typically two to 12 months in duration with equal amortizing payments, to help meet the credit needs of consumers. www.occ.treas.gov/news-issuances/bulletins/2018/bulletin-2018-14.html May 23, 2018 - Comptroller Urges Banks to Meet Consumers' Short-Term, Small-Dollar Credit Needs - Comptroller of the Currency Joseph Otting today issued the following statement regarding the release of his agency�s bulletin encouraging national banks and federal savings associations to offer responsible short-term, small-dollar installment loans. www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-51.html May 23, 2018 - Notice of Open Board Meeting - An Open Board meeting of the Board of Governors of the Federal Reserve System will be held at 3:00 p.m. on May 30, 2018. Matter(s) considered: Notice of Proposed Rulemaking on Proprietary Trading and Hedge Fund and Private Equity Fund Restrictions of Section 13 of the Bank Holding Company Act. www.federalreserve.gov/aboutthefed/boardmeetings/20180530open.htm May 23, 2018 - Minutes of the Federal Open Market Committee, May 1-2, 2018. www.federalreserve.gov/newsevents/pressreleases/monetary20180523a.htm May 22, 2018 - Comptroller of the Currency Congratulates House on Passage of Important Regulatory Reforms - Comptroller of the Currency Joseph M. Otting issued the following statement upon passage by the U.S. House of Representatives of Senate Bill 2155, the �Economic Growth, Regulatory Relief and Consumer Protection Act.� www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-50.html May 22, 2018 - OCC Publication Discusses Profitable Bank Collaborations With Minority Depository Institutions - The Office of the Comptroller of the Currency published the latest edition of its Community Development Investments newsletter entitled �Profitable Partnerships: Collaborating With Minority Depository Institutions.� www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-49.html May 22, 2018 - Federal Reserve Banks� Small Business Report Finds More Firms Are Profitable and Confident; Yet Certain Segments Struggle with Credit Access, Expenses, More - The 12 Federal Reserve Banks today issued the 2017 Small Business Credit Survey: Report on Employer Firms, which examines the results of an annual survey of small business owners nationwide. www.stlouisfed.org/news-releases/2018/05/22/federal-reserve-small-business-report-finds-more-firms-are-profitable-and-confident May 22, 2018 - FDIC-Insured Institutions Report $56 Billion in Net Income in First Quarter 2018 - Community Bank Net Income Increases to $6.1 Billion - Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation reported aggregate net income of $56 billion in the first quarter of 2018, up $12.1 billion (27.5 percent) from a year ago. www.fdic.gov/news/news/press/2018/pr18030.html May 22, 2018 - Density Forecasts in Panel Data Models: A Semiparametric Bayesian Perspective - Laura Liu - This paper constructs individual-specific density forecasts for a panel of firms or households using a dynamic linear model with common and heterogeneous coefficients and cross-sectional heteroskedasticity. www.federalreserve.gov/econres/feds/files/2018036pap.pdf May 22, 2018 - Shedding Light on Our Economic and Financial Lives - Jeff Larrimore, Alex Durante, Kimberly Kreiss, Ellen Merry, Christina Park, and Claudia Sahm - One way to find out how someone is doing is to simply ask them. If you then want to understand the full range of experience, you have to ask many people, all across the country and from various walks of life. www.federalreserve.gov/econres/notes/feds-notes/shedding-light-on-our-economic-and-financial-lives-20180522.htm May 22, 2018 - Federal Reserve Board issues Report on the Economic Well-Being of U.S. Households - The Federal Reserve Board's latest Report on the Economic Well-Being of U.S. Households finds that economic well-being has generally improved over the past five years. www.federalreserve.gov/newsevents/pressreleases/other20180522a.htm May 22, 2018 - Federal Reserve Board issues enforcement actions with 2 former Regions Bank employees and announces termination of enforcement action with Hometown Bancshares, Inc. www.federalreserve.gov/newsevents/pressreleases/enforcement20180522a.htm May 21, 2018 - Chicago Fed National Activity Index - Index points to little change in economic growth in April - The Chicago Fed National Activity Index ticked up to +0.34 in April from +0.32 in March. www.chicagofed.org/~/media/publications/cfnai/2018/cfnai-may2018-pdf.pdf May 21, 2018 - Comparing Three Credit Scoring Models - Rachael Beer, Felicia Ionescu, and Geng Li - Credit scores are used extensively in household debt underwriting and pricing as an indicator of borrowers' credit risks. www.federalreserve.gov/econres/notes/feds-notes/comparing-three-credit-scoring-models-20180521.htm May 21, 2018 - Is Operational Risk Regulation Forward-looking and Sensitive to Current Risks? - Marco Migueis - Recent legislative initiatives have aimed to constrain the approaches followed by US banking agencies in setting operational risk capital. www.federalreserve.gov/econres/notes/feds-notes/operational-risk-regulation-forward-looking-and-sensitive-to-current-risks-20180521.htm May 18, 2018 - Federal Reserve and Office of the Comptroller of Currency Extend Comment Period for Proposed Rule Tailoring Leverage Ratio Requirements. https://www.federalreserve.gov/newsevents/pressreleases/bcreg20180518a.htm May 18, 2018 - Monetary Policy Surprises and Monetary Policy Uncertainty - Michiel De Pooter, Giovanni Favara, Michele Modugno, and Jason Wu - The current level of monetary policy uncertainty is low by historical standards. www.federalreserve.gov/econres/notes/feds-notes/monetary-policy-surprises-and-monetary-policy-uncertainty-20180518.htm May 18, 2018 - Statistical Release - Charge-off and Delinquency Rates on Loans and Leases at Commercial Banks. www.federalreserve.gov/releases/chargeoff/ May 18, 2018 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm May 18, 2018 - Fed Financial Statements - Federal Reserve Banks Combined Quarterly Financial Report, March 31, 2018 www.federalreserve.gov/aboutthefed/combined-quarterly-financial-reports-unaudited.htm May 18, 2018 - Credit and Liquidity Programs and the Balance Sheet - Quarterly Report on Federal Reserve Balance Sheet Developments - May 2018. www.federalreserve.gov/monetarypolicy/2018-quarterly-report-on-federal-reserve-balance-sheet-developments-abbreviations.htm May 18, 2018 - Speech by Governor Brainard on the Community Reinvestment Act Governor Lael Brainard At the Association of Neighborhood and Housing Development Eighth Annual Community Development Conference Build.Community.Power, New York, New York www.federalreserve.gov/newsevents/speech/brainard20180518a.htm May 18, 2018 - Federal Reserve and Office of the Comptroller of the Currency extend comment period for proposed rule tailoring leverage ratio requirements - The Federal Reserve Board and the Office of the Comptroller of the Currency on Friday extended until June 25, 2018, the comment period for their proposed rule that would tailor leverage ratio requirements to the business activities and risk profiles of the largest domestic firms. Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20180518a.htm Press Release: www.occ.gov/news-issuances/news-releases/2018/nr-ia-2018-48.html May 17, 2018 - St. Louis Fed Honors Teacher for Contributions to Economic Education - Vicki Fuhrhop has been named the recipient of the 2018 Economic Educator Advisory Board Educator of the Year Award from the Federal Reserve Bank of St. Louis. www.stlouisfed.org/news-releases/2018/05/17/st-louis-fed-honors-teacher-for-contributions-to-economic-education May 16, 2018 - Federal Reserve Bank of San Francisco�s Board of Directors Launches Search for New Bank President & CEO www.frbsf.org/our-district/press/news-releases/2018/board-of-directors-launches-san-francisco-fed-president-ceo-search/ __________________________ May 17, 2018 - OCC Enforcement Actions and Terminations for May 2018 - 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/2018/nr-occ-2018-47.html May 17, 2018 - OCC to Host Innovation Office Hours in San Francisco - The Office of the Comptroller of the Currency today announced it will hold Innovation Office Hours, July 17-19, in San Francisco to promote responsible innovation in the federal banking system. www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-46.html May 17, 2018 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at on May 17, 2018. Matter(s) considered: Update on Consumer and Community Matters. www.federalreserve.gov/aboutthefed/boardmeetings/20180517closed.htm May 17, 2018 - Advisory Council - Record of the Meeting of the Federal Advisory Council and the Board of Governors - The Federal Advisory Council, which is composed of twelve representatives of the banking industry, consults with and advises the Board on all matters within the Board's jurisdiction. www.federalreserve.gov/aboutthefed/fac.htm May 17, 2018 - Federal Reserve Board announces termination of enforcement action with Regions Bank. www.federalreserve.gov/newsevents/pressreleases/enforcement20180517a.htm May 16, 2018 - Current Expected Credit Losses: Notice of Proposed Rulemaking - On May 14, 2018, the Office of the Comptroller of the Currency, Board of Governors of the Federal Reserve System, and Federal Deposit Insurance Corporation published a notice of proposed rulemaking to implement the Financial Accounting Standards Board�s Accounting Standards Update 2016-13, �Financial Instruments�Credit Losses,� in their rules. www.occ.treas.gov/news-issuances/bulletins/2018/bulletin-2018-13.html May 16, 2018 - Emerging Trends in the U.S. and Colorado Economies - By Alison Felix Economist and Branch Executive Federal Reserve Bank of Kansas City Denver Branch. www.kansascityfed.org/~/media/files/publicat/speeches/2018/2018-felix-milehigh-05-16.pdf May 16, 2018 - Regulatory Relief - Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Indiana Affected by Severe Storms and Flooding - The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Indiana affected by severe storms and flooding. www.fdic.gov/news/news/financial/2018/fil18028.html May 16, 2018 - Regulatory Relief - Guidance to Help Financial Institutions and Facilitate Recovery in Areas of North Carolina Affected by a Tornado and Severe Storms - The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of North Carolina affected by a tornado and severe storms. www.fdic.gov/news/news/financial/2018/fil18029.html May 16, 2018 - The Effect of Real Estate Prices on Chinese Bank Performance - Anil K. Jain and Samuel M. Mackey - 0Chinese banks have large exposures to the Chinese real estate market. Direct Chinese bank loans to the Chinese real estate sector (for example, loans to real estate developers, commercial mortgage loans, and residential mortgage loans) are about 22 percent of total bank lending. www.federalreserve.gov/econres/notes/ifdp-notes/effect-of-real-estate-prices-on-chinese-bank-performance-20180516.htm May 16, 2018 - Statistical Release - Structure and Share Data for U.S. Banking Offices of Foreign Entities. www.federalreserve.gov/releases/iba/default.htm May 16, 2018 - Statistical Release - Industrial Production and Capacity Utilization - G.17 - Industrial production rose 0.7 percent in April for its third consecutive monthly increase. www.federalreserve.gov/releases/g17/Current/default.htm May 16, 2018 - Speech by Vice Chairman Quarles on finding the right balance in cross-border resolution At "Ring-Fencing the Global Banking System: The Shift towards Financial Regulatory Protectionism" Symposium sponsored by Harvard Law School Program on International Financial Systems, Harvard Law School, Cambridge, Massachusetts. www.federalreserve.gov/newsevents/speech/quarles20180516a.htm May 15, 2018 - SF Fed�s Williams: Despite the Strong Economic Outlook, Data Indicates Long-Term R-Star Will Remain Low - Today, John C. Williams, President and CEO of the Federal Reserve Bank of San Francisco, spoke to a meeting of the Economic Club of Minnesota about the fortunes of r-star and gave his views on how it will affect monetary policy. www.frbsf.org/our-district/press/news-releases/2018/john-williams-despite-strong-economic-outlook-long-term-r-star-will-remain-low/ May 15, 2018 - St. Louis Fed Study: When You Were Born Affected Your Wealth During and After the Great Recession - A new study by the St. Louis Fed�s Center for Household Financial Stability found that the Great Recession hit groups born in certain decades harder than others. www.stlouisfed.org/news-releases/2018/05/15/st-louis-fed-study-when-you-were-born-affected-your-wealth-during-and-after-the-great-recession May 15, 2018 - Summary of Deposits Survey - The Summary of Deposits is the annual survey of branch office deposits as of June 30 for all FDIC-insured institutions, including insured U.S. branches of foreign banks. www.fdic.gov/news/news/financial/2018/fil18027.html May 15, 2018 - 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 a.m. on May 17, 2018. Matter(s) considered: Update on Consumer and Community Matters. www.federalreserve.gov/aboutthefed/boardmeetings/20180517closed.htm May 15, 2018 - Can More Housing Supply Solve the Affordability Crisis? Evidence from a Neighborhood Choice Model - Elliot Anenberg and Edward Kung - We estimate a neighborhood choice model using 2014 American Community Survey data to investigate the degree to which new housing supply can improve housing affordability. www.federalreserve.gov/econres/feds/files/2018035pap.pdf May 15, 2018 - The Nature of Household Labor Income Risk - Seth Pruitt and Nicholas Turner - What is the nature of labor income risk facing households? We answer this question using detailed administrative data on household earnings from the U.S. Internal Revenue Service. www.federalreserve.gov/econres/feds/files/2018034pap.pdf May 15, 2018 - Speech by Governor Brainard on cryptocurrencies, digital currencies, and distributed ledger technologies At the Decoding Digital Currency ConferenceSponsored by the Federal Reserve Bank of San Francisco, San Francisco, California. www.federalreserve.gov/newsevents/speech/brainard20180515a.htm May 15, 2018 - Federal Reserve Board announces termination of enforcement actions with Barclays Bank plc and Oklahoma Capital Bank. www.federalreserve.gov/newsevents/pressreleases/enforcement20180515a.htm May 14, 2018 - NCUA - April 2018 NCUA Board Meeting Video Available - The video recording of the April 19, 2018, 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-2018-may-april-board-meeting-video-available.aspx May 14, 2018 - St. Louis Fed's Bullard Discusses "Non-Uniform Currencies and Exchange Rate Chaos" - Federal Reserve Bank of St. Louis President James Bullard discussed �Non-Uniform Currencies and Exchange Rate Chaos� on Monday at the CoinDesk Consensus 2018 conference. www.stlouisfed.org/news-releases/2018/05/14/bullard-non-uniform-currencies May 14, 2018 - Federal Financial Institutions Examination Council Examination Procedures on Customer Due Diligence and Beneficial Ownership Rule - The Federal Financial Institutions Examination Council recently issued examination procedures for the Financial Crimes Enforcement Network rule, Customer Due Diligence Requirements for Financial Institutions, which was issued on May 11, 2016. www.federalreserve.gov/supervisionreg/srletters/sr1803.htm May 11, 2018 - Publication Bias and the Cross-Section of Stock Returns - Andrew Y. Chen and Tom Zimmermann - We develop an estimator for publication bias and apply it to 156 hedge portfolios based on published cross-sectional return predictors. www.federalreserve.gov/econres/feds/files/2018033pap.pdf May 11, 2018 - Understanding Demand for Currency at Home and Abroad By Thomas Haasl , Sam Schulhofer-Wohl , Anna Paulson - Currency is traditionally the largest liability of a central bank and today accounts for 36% of the Federal Reserve�s liabilities, or $1.59 trillion. www.chicagofed.org/publications/chicago-fed-letter/2018/396 May 11, 2018 - FFIEC Issues New Customer Due Diligence and Beneficial Ownership Examination Procedures - The Federal Financial Institutions Examination Council today issued new examination procedures on the final rule, �Customer Due Diligence Requirements for Financial Institutions,� issued by the Financial Crimes Enforcement Network on May 11, 2016. www.ncua.gov/newsroom/Pages/news-2018-may-ffiec-issues-customer-due-diligence-beneficial-ownership-examination-procedures.aspx May 11, 2018 - Bank Secrecy Act/Anti-Money Laundering: Customer Due Diligence and Beneficial Ownership Requirements for Legal Entity Customers � Overviews and Examination Procedures - On May 11, 2018, the Federal Financial Institutions Examination Council released the Customer Due Diligence and Beneficial Ownership Requirements for Legal Entity Customers � Overviews and Examination Procedures for the Customer Due Diligence Requirements for Financial Institutions, issued as a final rule by the Financial Crimes Enforcement Network on May 11, 2016, with mandatory compliance on May 11, 2018. www.occ.treas.gov/news-issuances/bulletins/2018/bulletin-2018-12.html May 11, 2018 - Military Lending Act: New Comptroller's Handbook Booklet and Rescissions - This new booklet, part of the Consumer Compliance series of the Comptroller�s Handbook, is for use by OCC examiners when assessing compliance with the Military Lending Act, as implemented by 32 CFR 232, �Limitations on Terms of Consumer Credit Extended to Service Members and Dependents.� www.occ.treas.gov/news-issuances/bulletins/2018/bulletin-2018-11.html May 11, 2018 - St. Louis Fed's Bullard Discusses "U.S. Monetary Policy: A Case for Caution" - Federal Reserve Bank of St. Louis President James Bullard discussed �U.S. Monetary Policy: A Case for Caution� on Friday at the Springfield Area Chamber of Commerce. www.stlouisfed.org/news-releases/2018/05/11/bullard-a-case-for-caution May 11, 2018 - The Federal Financial Institutions Examination Council today issued new examination procedures on the final rule, �Customer Due Diligence Requirements for Financial Institutions,� issued by the Financial Crimes Enforcement Network on May 11, 2016. www.ffiec.gov/press/pr051118.htm May 11, 2018 - Customer Due Diligence and Beneficial Ownership Examination Procedures - The Federal Financial Institutions Examination Council is releasing the customer due diligence and beneficial ownership sections of the FFIEC Bank Secrecy Act/Anti-Money Laundering Examination Manual. www.fdic.gov/news/news/financial/2018/fil18026.html May 11, 2018 - Publication Bias and the Cross-Section of Stock Returns - Andrew Y. Chen and Tom Zimmermann - We develop an estimator for publication bias and apply it to 156 hedge portfolios based on published cross-sectional return predictors. www.federalreserve.gov/econres/feds/files/2018033pap.pdf May 11, 2018 - Community Advisory Council - The Community Advisory Council was formed by the Federal Reserve Board in 2015 to offer diverse perspectives on the economic circumstances and financial services needs of consumers and communities, with a particular focus on the concerns of low- and moderate-income populations. www.federalreserve.gov/aboutthefed/cac.htm May 11, 2018 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm May 11, 2018 - Federal Reserve to offer 7-day term deposits on May 17 - 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/monetary20180510a.htm __________________________ May 10, 2018 - St. Louis Fed Ag Survey: Farm Income Declines for the 17th Consecutive Quarter - For the first quarter of 2018, farm income continued to decline for the 17th consecutive quarter, according to the latest Agricultural Finance Monitor published by the Federal Reserve Bank of St. Louis. www.stlouisfed.org/news-releases/2018/05/10/st-louis-fed-ag-survey-farm-income-declines-for-the-17th-consecutive-quarter May 10, 2018 - Federal Reserve to offer 7-day term deposits on May 17 - 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/monetary20180510a.htm May 9, 2018 - Emerging Trends in the U.S. and Colorado Economies - By Alison Felix Economist and Branch Executive Federal Reserve Bank of Kansas City Denver Branch. www.kansascityfed.org/~/media/files/publicat/speeches/2018/2018-felix-ftlupton-05-09.pdf May 9, 2018 - St. Louis Fed aims to connect nonprofits with funders at Investment Connection in Springfield, Mo. - The Federal Reserve Bank of St. Louis invites nonprofit organizations to share their new and existing community development projects with funders interested in lending, investment and service opportunities at the Investment Connection event Thursday, May 17, in Springfield, Mo. www.stlouisfed.org/news-releases/2018/05/09/st-louis-fed-aims-to-connect-nonprofits May 9, 2018 - 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 May 24, 2018, and November 26, 2018. www.fdic.gov/news/news/financial/2018/fil18025.html May 9, 2018 - Low risk as a predictor of financial crises - Jon Danielsson (London School of Economics), Marcela Valenzuela (University of Chile), and Ilknur Zer - The global crisis in 2008 blindsided every observer. We had come to believe that crises were a thing of the past. www.federalreserve.gov/econres/notes/feds-notes/low-risk-as-a-predictor-of-financial-crises-20180509.htm May 9, 2018 - Federal Reserve Board announces approval of application by Ameris Bancorp. www.federalreserve.gov/newsevents/pressreleases/orders20180509a.htm May 8, 2018 - Emerging Trends in the U.S. and Wyoming Economies By Alison Felix Economist and Branch Executive Federal Reserve Bank of Kansas City Denver Branch. www.kansascityfed.org/~/media/files/publicat/speeches/2018/2018-felix-cheyenneforum-05-08.pdf May 8, 2018 - Senior Loan Officer Opinion Survey on Bank Lending Practices - April 2018 - The April 2018 Senior Loan Officer Opinion Survey on Bank Lending Practices addressed changes in the standards and terms on, and demand for, bank loans to businesses and households over the past three months, which generally corresponds to the first quarter of 2018. www.federalreserve.gov/data/sloos/sloos-201804.htm May 8, 2018 - Speech by Chairman Powell on monetary policy influences on global financial conditions and international capital flows - At "Challenges for Monetary Policy and the GFSN in an Evolving Global Economy" Eighth High-Level Conference on the International Monetary System sponsored by the International Monetary Fund and Swiss National Bank, Zurich, Switzerland www.federalreserve.gov/newsevents/speech/powell20180508a.htm May 8, 2018 - Federal Reserve Board welcomes release of global strategy for reducing wholesale payments fraud - The Federal Reserve Board on Tuesday welcomed the release of a global strategy for reducing wholesale payments fraud and reaffirms its commitment to work collaboratively with domestic and international stakeholders to promote the safety and resiliency of the wholesale payments ecosystem worldwide. www.federalreserve.gov/newsevents/pressreleases/other20180508a.htm May 7, 2018 - NCUA - FFIEC Announces Availability of 2017 Data on Mortgage Lending - The Federal Financial Institutions Examination Council today announced the availability of data on mortgage lending transactions at 5,852 U.S. financial institutions covered by the Home Mortgage Disclosure Act. www.ncua.gov/newsroom/Pages/news-2018-may-ffiec-announces-availability-2017-data-mortgage-lending.aspx May 7, 2018 - OCC Hosts Operational Risk Workshop in Pennsylvania - The Office of the Comptroller of the Currency will host a workshop in Harrisburg, Pa., at the Crowne Plaza Harrisburg-Hershey, June 20, for directors of national community banks and federal savings associations supervised by the OCC. www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-45.html May 7, 2018 - Federal Reserve Board announces approval of final amendments to its Regulation A - The Federal Reserve Board on Monday announced the approval of final amendments to its Regulation A, which governs extensions of credit by Federal Reserve Banks, to make certain technical adjustments including to reflect the expiration of the Term Asset Backed Securities Loan Facility program. www.federalreserve.gov/newsevents/pressreleases/bcreg20180507a.htm May 7, 2018 - Statistical Release - Consumer Credit - G.19 - Consumer credit increased at a seasonally adjusted annual rate of 4-1/4 percent during the first quarter. Revolving credit decreased at an annual rate of 1 percent, while nonrevolving credit increased at an annual rate of 6 percent. In March, consumer credit increased at an annual rate of 3-1/2 percent. www.federalreserve.gov/releases/g19/current/default.htm May 7, 2018 - Voluntary Reserve Targets - Garth Baughman and Francesca Carapella - This paper updates the standard workhorse model of banks' reserve management to include frictions inherent to money markets. We apply the model to study monetary policy implementation through an operating regime involving voluntary reserve targets. www.federalreserve.gov/econres/feds/files/2018032pap.pdf May 7, 2018 - Foreign Effects of Higher U.S. Interest Rates - Matteo Iacoviello and Gaston Navarro - This paper analyzes the spillovers of higher U.S. interest rates on economic activity in a large panel of 50 advanced and emerging economies. www.federalreserve.gov/econres/ifdp/files/ifdp1227.pdf May 4, 2018 - NCUA Webinar Will Explain Benefits of CDFI Certification - Credit unions interested in becoming designated as Community Development Financial Institutions can get valuable information on an upcoming webinar hosted by the National Credit Union Administration. www.ncua.gov/newsroom/Pages/news-2018-may-webinar-explain-benefits-cdfi-certification.aspx May 4, 2018 - Regulatory Relief: Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Alabama Affected by Severe Storms and Tornadoes - The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Alabama affected by severe storms and tornadoes. www.fdic.gov/news/news/financial/2018/fil18024.html May 4, 2018 - Banker Teleconference: Implementation and Transition of the Current Expected Credit Losses Methodology for Allowances and Related Adjustments to the Regulatory Capital Rules and Conforming Amendments to Other Regulations - The FDIC, the Office of the Comptroller of the Currency, and the Board of Governors of the Federal Reserve System will host an interagency conference call on May 15, 2018, from 1:00 p.m. to 2:00 p.m. Eastern Time to address certain proposed changes to their capital rules. www.fdic.gov/news/news/financial/2018/fil18023.html May 4, 2018 - FDIC Issues List of Banks Examined for CRA Compliance - The list covers evaluation ratings that the FDIC assigned to institutions in February 2018. www.fdic.gov/news/news/press/2018/pr18029.html May 4, 2018 - The Origins of Aggregate Fluctuations in a Credit Network Economy - Levent Altinoglu - I show that inter-firm lending plays an important role in business cycle fluctuations. www.federalreserve.gov/econres/feds/files/2018031pap.pdf May 4, 2018 - FOIA - Chairman Powell's calendar, March 2018. www.federalreserve.gov/foia/chairmanscalendar-032018.htm May 4, 2018 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm May 4, 2018 - Advisory Councils - Community Depository Institutions Advisory Council - Record of meeting for April 13, 2018 - The Community Depository Institutions Advisory Council was established in 2010 by the Board of Governors to provide input to the Board on the economy, lending conditions, and other issues of interest to community depository institutions. www.federalreserve.gov/aboutthefed/cdiac.htm May 4, 2018 - How much does health insurance cost? Comparison of premiums in administrative and survey data - Jeff Larrimore and David Splinter - Using newly available administrative data from the Internal Revenue Service, this paper studies the distribution of employer-sponsored health insurance premiums. www.federalreserve.gov/econres/feds/files/2018030pap.pdf May 4, 2018 - Reconsidering the Consequences of Worker Displacements: Firm versus Worker Perspective - Aaron Flaaen, Matthew D. Shapiro, and Isaac Sorkin - Prior literature has established that displaced workers suffer persistent earnings losses by following workers in administrative data after mass layoffs. www.federalreserve.gov/econres/feds/files/2018029pap.pdf May 4, 2018 - Speech by Vice Chairman for Supervision Quarles on liquidity regulation and the size of the Fed's balance sheet At "Currencies, Capital, and Central Bank Balances: A Policy Conference," a Hoover Institution Monetary Policy Conference, Stanford University, Stanford, California. www.federalreserve.gov/newsevents/speech/quarles20180504a.htm May 3, 2018 - NCUA - Board Revises 2018 Meeting Schedule - The National Credit Union Administration Board has revised its 2018 meeting schedule. - The open meeting originally scheduled for July 26 has been moved to Aug. 2. All open Board meetings are scheduled to begin at 10 a.m. Eastern. www.ncua.gov/newsroom/Pages/news-2018-may-board-revises-meeting-schedule.aspx _______________________ May 2, 2018 - In conjunction with National Small Business Week, the 12 Reserve Banks of the Federal Reserve System have launched a new website called Federal Small Business, which will serve as a hub for the Reserve Banks' small business research, analysis and thought leadership. www.fedsmallbusiness.org/ May 2, 2018 - Appraisals for Commercial Real Estate Transactions: Final Rule - The Office of the Comptroller of the Currency has adopted a final rule to increase the appraisal threshold for commercial real estate transactions from $250,000 to $500,000. www.occ.treas.gov/news-issuances/bulletins/2018/bulletin-2018-10.html May 2 2018 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at on May 1, 2018 and continued at 9:00 a.m. on May 2, 2018. Matter(s) considered: Discussion of Monetary Policy Issues. www.federalreserve.gov/aboutthefed/boardmeetings/20180501closed.htm May 2 2018 - 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 and that economic activity has been rising at a moderate rate. Job gains have been strong, on average, in recent months, and the unemployment rate has stayed low. www.federalreserve.gov/newsevents/pressreleases/monetary20180502a.htm May 1 2018 - OCC Releases CRA Evaluations for 22 National Banks and Federal Savings Associations - The Office of the Comptroller of the Currency today released a list of Community Reinvestment Act performance evaluations that became public during the period of April 1, 2018 through April 30, 2018. www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-44.html May 1, 2018 - OCC Releases CRA Evaluations for 22 National Banks and Federal Savings - 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 April 1, 2018 through April 30, 2018. www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-44.html May 1, 2018 - The Federal Financial Institutions Examination Council published a Press Release announcing today the re-election of Greg Gonzales as State Liaison Committee Chairman. - The Federal Financial Institutions Examination Council�s State Liaison Committee today announced the re-election of Greg Gonzales as its Chairman. The SLC Chairman�s term is a one-year period that begins May 1 and runs until April 30 of the following year. The SLC can re-elect the chairman for additional terms. www.ffiec.gov/press/pr050118.htm May 1, 2018 - The Federal Financial Institutions Examination Council today announced the reappointment of Edward �Joe� Face to the FFIEC�s State Liaison Committee. www.ffiec.gov/press/pr050118_1.htm May 1, 2018 - Payment System Risk - Daylight Overdrafts and Fees - Quarterly data updates. www.federalreserve.gov/paymentsystems/psr_data.htm May 1, 2018 - Statistical Release - Foreign Exchange Rates - G.5 - The table below shows the average rates of exchange in APRIL 2018 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 May 1, 2018 - Federal Reserve Board fines Goldman Sachs Group, Inc., $54.75 million for unsafe and unsound practices in firm's foreign exchange trading business - The Board levied the fine for deficiencies in Goldman's internal controls and oversight of traders who buy and sell U.S. dollars and foreign currencies for the firm's own accounts and for customers. http://www.federalreserve.gov/newsevents/pressreleases/enforcement20180501b.htm May 1, 2018 - Federal Reserve Board issues enforcement action with The Bank of Fayette County. www.federalreserve.gov/newsevents/pressreleases/enforcement20180501a.htm |
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