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May 31, 2019 - Midwest Economy Index - Index points to slower Midwest economic growth in April - The Midwest Economy Index decreased to –0.04 in April from +0.21 in March. Contributions to the April MEI from three of the four broad sectors of nonfarm business activity and all five Seventh Federal Reserve District states decreased from March. www.chicagofed.org/~/media/publications/mei/2019/mei-april2019-pdf.pdf May 31, 2019 - NCUA Issues Prohibition Notices - The National Credit Union Administration issued one prohibition notice and one prohibition order in May. These individuals are prohibited from participating in the affairs of any federally insured financial institution. www.ncua.gov/newsroom/press-release/2019/ncua-issues-prohibition-notices-1 May 31, 2019 - OCC Hosts New York Workshop for Board Directors and Bank Management - The Office of the Comptroller of the Currency will host a workshop in New York, N.Y., at the OCC Northeastern District Office, July 9-10, 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/2019/nr-occ-2019-60.html May 31, 2019 - 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. There are no administrative hearings scheduled for June 2019. The FDIC issued a total of 17 orders. www.fdic.gov/news/news/press/2019/pr19045.html May 31, 2019 - Michael J. Lamla, Damjan Pfajfar, and Lea Rendell - We explore the consequences of losing confidence in the price-stability objective of central banks by quantifying the inflation and deflationary biases in inflation expectations. www.federalreserve.gov/econres/feds/files/2019042pap.pdf May 31, 2019 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm May 31, 2019 - Federal Reserve Board announces schedule for results from Dodd-Frank Act stress tests and Comprehensive Capital Analysis and Review - Results from the latest supervisory stress tests conducted as part of the Dodd-Frank Act will be released on Friday, June 21, and the results from the related Comprehensive Capital Analysis and Review will be released on Thursday, June 27, the Federal Reserve Board announced on Friday. www.federalreserve.gov/newsevents/pressreleases/bcreg20190531a.htm May 30, 2019 - Federal Reserve announces results of offering of seven-day term deposits on May 30 - The operation offered seven-day term deposits with the rate set equal to the sum of the interest rate paid on excess reserves plus a fixed spread of 1 basis point. www.federalreserve.gov/newsevents/pressreleases/monetary20190530a.htm May 30, 2019 - Federal Reserve Board appoints Winona H. Varnon as director of the Management Division - Varnon has been deputy director of the division since April 2017 and succeeds Michell Clark. www.federalreserve.gov/newsevents/pressreleases/other20190530a.htm May 30, 2019 - Agencies issue final rule regarding the treatment of certain municipal obligations as high-quality liquid assets - The federal bank regulatory agencies issued a final rule that will adopt without change the agencies' interim final rule issued in August 2018, amending their liquidity coverage ratio rules to treat certain municipal obligations as high-quality liquid assets. Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20190530a.htm Press Release: www.fdic.gov/news/news/press/2019/pr19044.html Press Release: www.occ.gov/news-issuances/news-releases/2019/nr-ia-2019-59.html _____________________ May 30, 2019 - OCC Issues Third and Fourth Quarter 2019 CRA Evaluation Schedule - The Office of the Comptroller of the Currency today released its schedule of Community Reinvestment Act evaluations to be conducted in the third and fourth quarters of 2019. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-58.html May 30, 2019 - FDIC Issues CRA Examination Schedules for Third Quarter 2019 and Fourth Quarter 2019 - The Federal Deposit Insurance Corporation today issued the lists of institutions scheduled for a Community Reinvestment Act examination during the third quarter of 2019 and fourth quarter of 2019. www.fdic.gov/news/news/press/2019/pr19043.html May 30, 2019 - Assessing the Resiliency of the Banking Industry to a Commercial Real Estate Price Shock - Cindy M. Vojtech - Given the valuation pressures in the commercial real estate market, this note explores the resiliency of the banking industry to a sudden CRE price decrease. www.federalreserve.gov/econres/notes/feds-notes/assessing-the-resiliency-of-the-banking-industry-to-a-commercial-real-estate-price-shock-20190530.htm May 30, 2019 - Speech by Vice Chair for Supervision Quarles on monetary policy and financial stability At "Developments in Empirical Macroeconomics," a research conference sponsored by the Federal Reserve Board and the Federal Reserve Bank of New York, Washington, D.C. www.federalreserve.gov/newsevents/speech/quarles20190530a.htm May 30, 2019 - Speech by Vice Chair Clarida on sustaining maximum employment and price stability At the Economic Club of New York, New York, New York. www.federalreserve.gov/newsevents/speech/clarida20190530a.htm May 290, 2019 - Aaron Carroll Joins St. Louis Fed�s Agribusiness Industry Council - Aaron Carroll of Lexington, Ind., has been named to the Agribusiness Industry Council of the Federal Reserve Bank of St. Louis. Carroll is a certified crop advisor at Nutrien Ag Solutions. www.stlouisfed.org/news-releases/2019/05/29/aaron-carroll-joins-st-louis-fed-agribusiness-industry-council May 29, 2019 - OCC Allows National Banks and Federal Savings Associations Affected by Flooding in the South Central United States to Close. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-57.html May 29, 2019 - FDIC-Insured Institutions Report Net Income of $60.7 Billion in First Quarter 2019 - Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation reported aggregate net income of $60.7 billion in first quarter of 2019, up $4.9 billion (8.7 percent) from a year earlier. www.fdic.gov/news/news/press/2019/pr19042.html May 29, 2019 - NCUA - Register Now for June 18 Flood Insurance Webinar - The webinar, hosted by the National Credit Union Administration and four other federal financial regulatory agencies, is scheduled to begin at 2 p.m. Eastern and run approximately one hour. www.ncua.gov/newsroom/press-release/2019/register-now-june-18-flood-insurance-webinar May 28, 2019 - Tailoring of Capital and Liquidity Standards for Foreign Banking Organizations: Notice of Proposed Rulemaking - The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation are issuing a notice of proposed rulemaking that would establish a revised framework for determining requirements under the regulatory capital rule, the liquidity coverage ratio rule, and the proposed net stable funding ratio rule for large foreign banking organizations with respect to certain U.S. operations based on their risk profile. www.occ.treas.gov/news-issuances/bulletins/2019/bulletin-2019-26.html May 28, 2019 - Summary of Deposits Survey: Filing for June 30, 2019 - 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/2019/fil19028.html May 28, 2019 - The costs and benefits of liquidity regulations: Lessons from an idle monetary policy tool - Christopher J. Curfman and John Kandrac - We investigate how liquidity regulations affect banks by examining a dormant monetary policy tool that functions as a liquidity regulation. www.federalreserve.gov/econres/feds/files/2019041pap.pdf May 28, 2019 - Regulatory Reform - Communications with the public through May 28, 2019 - The Federal Reserve Board will be involved in many rulemakings to implement the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. www.federalreserve.gov/regreform/communications-with-public.htm May 28, 2019 - Bond Risk Premiums at the Zero Lower Bound - Martin M. Andreasen, Kasper J�rgensen, and Andrew Meldrum - This paper documents a significantly stronger relationship between the slope of the yield curve and future excess bond returns on Treasuries from 2008-2015 than before 2008. www.federalreserve.gov/econres/feds/files/2019040pap.pdf May 28, 2019 - Agencies issue host state loan-to-deposit ratios - The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency today issued the host state loan-to-deposit ratios that they will use to determine compliance with section 109 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994. Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20190528a.htm Press Release: www.fdic.gov/news/news/press/2019/pr19041.html Press Release: www.occ.gov/news-issuances/news-releases/2019/nr-ia-2019-56.html May 28, 2019 - Minutes of the Board's discount rate meetings on April 22 and May 1, 2019. www.federalreserve.gov/newsevents/pressreleases/files/monetary20190528a1.pdf May 24, 2019 - Covered Savings Associations: Final Rule - On May 24, 2019, the Office of the Comptroller of the Currency issued a final rule to allow federal savings associations with total consolidated assets of $20 billion or less as of December 31, 2017, to elect national bank powers and operate as covered savings associations. www.occ.treas.gov/news-issuances/bulletins/2019/bulletin-2019-25.html May 24, 2019 - OCC Hosts Risk Governance and Credit Risk Workshops in Denver - The Office of the Comptroller of the Currency will host two workshops at the Embassy Suites Denver - Stapleton in Denver, June 25-26, for directors of national community banks and federal savings associations supervised by the OCC. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-55.html May 24, 2019 - Office of the Comptroller of the Currency Issues Final Rule to Enhance Business Flexibility for Federal Savings Associations. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-54.html May 24, 2019 - Annual Report on Preserving Minority Depository Institutions, May 2019 - This annual report to Congress details the actions taken to fulfill requirements outlined in section 308 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, as amended by the Dodd-Frank Act. www.federalreserve.gov/publications/preserving-minority-depository-institutions.htm May 24, 2019 - Weekly Hours, Overtime, and Employment of Manufacturing Production Workers: Fluctuations over the Business Cycle - Maria D. Tito -Employment, weekly hours, and overtime hours are all highly cyclical indicators of economic activity. www.federalreserve.gov/econres/notes/feds-notes/fluctuations-over-the-business-cycle-20190524.htm May 24, 2019 - Housing Choices and Their Implications for Consumption Heterogeneity - Eva de Francisco -- This paper proposes a model to jointly explain some of the heterogeneous individual consumption behavior found in the recent empirical literature, such as the existence of a significant size of wealthy hand-to-mouth consumers, and negative marginal propensities to consume associated with housing upgrades. www.federalreserve.gov/econres/ifdp/files/ifdp1249.pdf May 24, 2019 - Credit and Liquidity and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm May 23, 2019 - �Operation Choke Point� Lawsuit Dismissed - The Office of the Comptroller of the Currency today released the following statement regarding the dismissal of the long-running lawsuit alleging regulatory pressure to close payday lender bank accounts: www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-53.html May 23, 2019 - Federal Reserve to offer seven-day term deposits on May 30 - 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/monetary20190523a.htm May 23, 2019 - Federal Reserve Board releases results of survey of senior financial officers at banks about strategies and practices for managing reserve balances. www.federalreserve.gov/newsevents/pressreleases/other20190523a.htm __________________________ May 23, 2019 - OCC Hosts Minority Depository Institutions Advisory Committee Meeting in Dallas - The Office of the Comptroller of the Currency today announced it will host a public meeting of the Minority Depository Institutions Advisory Committee on Wednesday, June 12, 2019, beginning at 1:00 p.m., Central Daylight Time. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-52.html May 23, 2019 - 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 found that most measures of economic well-being and financial resilience in 2018 were similar to, or slightly better than, those in 2017. www.federalreserve.gov/newsevents/pressreleases/other20190523b.htm May 23, 2019 - Federal Reserve Board announces termination of enforcement actions. www.federalreserve.gov/newsevents/pressreleases/enforcement20190523a.htm May 23, 2019 - Federal Reserve to offer seven-day term deposits on May 30 - These operations are aimed at ensuring the operational readiness of the TDF and providing eligible institutions with an opportunity to maintain familiarity with term deposit procedures. www.federalreserve.gov/newsevents/pressreleases/monetary20190523a.htm May 23, 2019 - NCUA - CURE Expanding Resources for Credit Unions - The National Credit Union Administration Board held its fifth open meeting of 2019 at the agency�s headquarters today and unanimously approved one item: www.ncua.gov/newsroom/press-release/2019/cure-expanding-resources-credit-unions May 22, 2019 - OCC Appoints Four 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/2019/nr-occ-2019-51.html May 22, 2019 - St. Louis Fed's Bullard Discusses Successful Normalization of U.S. Monetary Policy - Federal Reserve Bank of St. Louis President James Bullard discussed �A Successful Normalization of Monetary Policy in the U.S.� on Wednesday in a presentation to the Foreign Correspondents� Club. www.stlouisfed.org/news-releases/2019/05/22/bullard-discusses-successful-normalization-of-us-monetary-policy May 22, 2019 - FDIC Resolves Payday Lender Lawsuit - The Federal Deposit Insurance Corporation has resolved a lawsuit with Advance America, Cash Advance Centers, Inc.; Check Into Cash, Inc.; and Northstate Check Exchange. Advance America et al. v. Federal Deposit Insurance Corporation et al. www.fdic.gov/news/news/press/2019/pr19040.html May 22, 2019 - Structure and Share Data for U.S. Banking Offices of Foreign Entities - Data are collected as of the end of the month for March, June, September and December, and generally are released three months later. www.federalreserve.gov/releases/iba/default.htm May 22, 2019 - The Role of U.S. Monetary Policy in Global Banking Crises - Bora Durdu, Alex Martin, and Ilknur Zer - We examine the role of U.S. monetary policy in global financial stability by using a cross-country database spanning the period from 1870-2010 across 69 countries. www.federalreserve.gov/econres/feds/files/2019039pap.pdf May 22, 2019 - Benchmarking Operational Risk Stress Testing Models - Filippo Curti, Marco Migueis, and Robert Stewart - The Federal Reserve's Comprehensive Capital Analysis and Review requires large bank holding companies to project losses under stress scenarios. www.federalreserve.gov/econres/feds/files/2019038pap.pdf May 22, 2019 - Minutes of the Federal Open Market Committee, April 30-May 1, 2019. www.federalreserve.gov/newsevents/pressreleases/monetary20190522a.htm May 22, 2019 - NCUA Chairman Hood Appoints Lenwood Brooks as the Assistant to the Chairman and Director of External Affairs www.ncua.gov/newsroom/press-release/2019/ncua-chairman-hood-appoints-lenwood-brooks-assistant-chairman-and-director-external-affairs May 21, 2019 - NCUA - Share Insurance Dividend Payments to Occur the Week of May 20 - This week, the National Credit Union Administration will pay dividends for more than 5,500 institutions eligible for the $160.1 million National Credit Union Share Insurance Fund distribution, the agency announced today. www.ncua.gov/newsroom/press-release/2019/share-insurance-dividend-payments-occur-week-may-20 May 21, 2019 - Senior Deputy Comptroller Discusses Bank Secrecy Act and Anti-Money Laundering Compliance - Senior Deputy Comptroller for Bank Supervision Policy Grovetta N. Gardineer today discussed efforts to protect the financial system from being misused for illegal purposes during a hearing before the U.S. Senate Committee on Banking, Housing, and Urban Affairs. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-50.html May 21, 2019 - 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/2019/2019-felix-cashadvisorycouncil-05-21.pdf May 21, 2019 - FEDS Notes - Tips from TIPS: Update and Discussions - Don Kim, Cait Walsh, and Min Wei - Introduction - The spread between the yield on a nominal Treasury security and that on a Treasury inflation protected security of comparable maturities--usually called the "breakeven inflation rate" or "inflation compensation"--has been often used as a real-time proxy for market participants' inflation expectations. www.federalreserve.gov/econres/notes/feds-notes/tips-from-tips-update-and-discussions-20190521.htm May 21, 2019 - FEDS Notes - Assessing the size of the risks posed by life insurers' nontraditional liabilities - Nathan Foley-Fisher, Borghan N. Narajabad, and St�phane Verani - This note discusses potential methods for assessing the size of the run risk associated with life insurers' nontraditional liabilities. www.federalreserve.gov/econres/notes/feds-notes/assessing-the-size-of-the-risks-posed-by-life-insurers-nontraditional-liabilities-20190521.htm May 21, 2019 - FEDS Notes -There is No Single Best Predictor of Recessions - Which term spread, or term spread derived, measure is the most accurate predictor of recessions? I conduct a robustness analysis of different spreads and show that there is no single most accurate predictor at any horizon. www.federalreserve.gov/econres/notes/feds-notes/there-is-no-single-best-predictor-of-recessions-20190521.htm May 21, 2019 - Statistical Release - Charge-Off and Delinquency Rates on Loans and Leases at Commercial Banks. www.federalreserve.gov/releases/chargeoff/ May 21, 2019 - Federal Reserve Board issues enforcement action with former employee of The Croghan Colonial Bank and announces termination of enforcement action with Highlands Bankshares and Highlands Union Bank. www.federalreserve.gov/newsevents/pressreleases/enforcement20190521a.htm May 20, 2019 - Chicago Fed National Activity Index Points to Slower Economic Growth in April - Led by declines in production-related indicators, the Chicago Fed National Activity Index fell to �0.45 in April from +0.05 in March. www.chicagofed.org/~/media/publications/cfnai/2019/cfnai-may2019-pdf.pdf May 20, 2019 - Does Automation Always Lead to a Decline in Low-Wage Jobs? - By Daniel Aaronson , Brian J. Phelan - To what extent are low-wage jobs in the United States being replaced by technology? www.chicagofed.org/publications/chicago-fed-letter/2019/413 May 20, 2019 - NCUA Charters Otoe-Missouria Federal Credit Union - National Credit Union Administration Board Chairman Rodney E. Hood today presented a federal credit union charter to the Otoe-Missouria Federal Credit Union in Red Rock, Oklahoma. www.ncua.gov/newsroom/press-release/2019/ncua-charters-otoe-missouria-federal-credit-union May 20, 2019 - 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 2019. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-49.html May 20, 2019 - Banker Teleconference Series: Private Flood Insurance Rule - The FDIC's Division of Depositor and Consumer Protection will conduct an interagency webinar scheduled for Tuesday, June 18, 2019, that will focus on the recently issued interagency final rule on private flood insurance. www.fdic.gov/news/news/financial/2019/fil19027.html May 20, 2019 - Financial Institution Diversity Video - The FDIC's Office of Minority and Women Inclusion prepared a video that is available on the FDIC YouTube Channel. In the "Financial Institution Diversity" video, OMWI Director Saul Schwartz describes the FDIC's Financial Institution Diversity Program. www.fdic.gov/news/news/financial/2019/fil19026.html May 20, 2019 - Speech by Vice Chair Clarida on the Federal Reserve�s review of its monetary policy strategy, tools, and communication practices At "Fed Listens: A Capstone Roundtable" hosted by the Federal Reserve Bank of New York, New York, New York. www.federalreserve.gov/newsevents/speech/clarida20190520a.htm May 17, 2019 - NCUA - Municipal Credit Union Conserved - The New York State Department of Financial Services today took possession of Municipal Credit Union, located in New York City, and appointed the National Credit Union Administration as conservator. www.ncua.gov/newsroom/press-release/2019/municipal-credit-union-conserved May 16, 2019 - Best Practices for Financing Illinois Infrastructure - By Rick Mattoon , Sarah Wetmore - On April 5, 2019, more than 140 academics, business leaders, government officials, and policy researchers came to the Federal Reserve Bank of Chicago to explore how best to design and finance an infrastructure program for Illinois. www.chicagofed.org/publications/chicago-fed-letter/2019/414 May 16, 2019 - Revisions to the Supplementary Leverage Ratio for Custodial Banking Organizations and Custody Banks: Notice of Proposed Rulemaking - On April 30, 2019, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation issued a notice of proposed rulemaking that would exclude from the supplementary leverage ratio certain central bank deposits of banking organizations predominantly engaged in custody, safekeeping, and asset servicing activities consistent with section 402 of the Economic Growth, Regulatory Relief, and Consumer Protection Act. www.occ.treas.gov/news-issuances/bulletins/2019/bulletin-2019-24.html May 16, 2019 - Comptroller�s Handbook: Updated �Foreword� Booklet and Rescissions - The Office of the Comptroller of the Currency issued today the updated �Foreword� booklet of the Comptroller�s Handbook. This booklet describes the overall organization and format of the Comptroller�s Handbook. www.occ.treas.gov/news-issuances/bulletins/2019/bulletin-2019-23.html May 16, 2019 - Emerging Trends in the Colorado Economy By Alison Felix Economist and Branch Executive Federal Reserve Bank of Kansas City Denver Branch. www.kansascityfed.org/~/media/files/publicat/speeches/2019/2019-felix-econforumgrandjunction-05-16.pdf May 16, 2019 - St. Louis Fed Honors Professor for Contributions to Economic Education - Gail Heyne Hafer is the recipient of the 2019 Economic Educator Advisory Board Educator of the Year Award from the Federal Reserve Bank of St. Louis. www.stlouisfed.org/news-releases/2019/05/16/st-louis-fed-honors-professor-for-contributions-to-economic-education May 16, 2019 - Statistical Release Finance Companies - G.20. www.federalreserve.gov/releases/g20/current/g20.htm May 16, 2019 - Federal Reserve Board issues enforcement actions with former employee of Fayette County Bank and Adams Bank and Trust. www.federalreserve.gov/newsevents/pressreleases/enforcement20190516a.htm ______________________________ May 16, 2019 - OCC Enforcement Actions and Terminations - 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/2019/nr-occ-2019-48.html May 16, 2019 - Comptroller of the Currency Discusses Regulatory Reform and Diversity During Congressional Hearing. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-47.html May 16, 2019 - Credible Forward Guidance - Taisuke Nakata and Takeki Sunakawa - We analyze credible forward guidance policies in a sticky-price model with an effective lower bound constraint on nominal interest rates by solving a series of optimal sustainable policy problems indexed by the duration of reputational loss. www.federalreserve.gov/econres/feds/2019.htm#2019037 May 16, 2019 - Optimal Inflation Target with Expectations-Driven Liquidity Traps - Philip Coyle and Taisuke Nakata - In expectations-driven liquidity traps, a higher inflation target is associated with lower inflation and consumption. www.federalreserve.gov/econres/feds/files/2019036pap.pdf May 16, 2019 - Speech by Governor Brainard on the disconnect between inflation and employment in the new At "Certain Uncertainty: Tax Policy in Unsettled Times" National Tax Association 49th Annual Spring Symposium, Washington, D.C. www.federalreserve.gov/newsevents/speech/brainard20190516a.htm May 16, 2019 - NCUA Chairman Rodney E. Hood Congressional Testimony - Hearing on Oversight of Prudential Regulators: Ensuring the Safety, Soundness and Accountability of Megabanks and Other Depository Institutions. www.ncua.gov/newsroom/testimony/2019/ncua-chairman-rodney-e-hood-congressional-testimony-hearing-oversight-prudential-regulators-ensuring May 15, 2019 - Does Automation Always Lead to a Decline in Low-Wage Jobs? - By Daniel Aaronson , Brian J. Phelan - To what extent are low-wage jobs in the United States being replaced by technology? Our research1 suggests that low-wage jobs that are intensive in routine cognitive tasks, such as cashier, were supplanted by automation during the 2000s. www.chicagofed.org/publications/chicago-fed-letter/2019/413 May 15, 2019 - Comptroller of the Currency Discusses Banking Regulatory Reform - Comptroller of the Currency Joseph M. Otting today discussed the common sense, bipartisan reforms that are reducing unnecessary burden on banks while ensuring they operate in a safe, sound, and fair manner. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-46.html May 15, 2019 - Emerging Trends in the Colorado Economy - By Alison Felix Economist and Branch Executive Federal Reserve Bank of Kansas City Denver Branch www.kansascityfed.org/~/media/files/publicat/speeches/2019/2019-felix-econforumgrandjunction-05-16.pdf May 15, 2019 - Statistical Release - Industrial Production and Capacity Utilization - G.17 - Industrial production fell 0.5 percent in April, and the rates of change for previous months were revised down on net. Output is now reported to have declined 1.9 percent at an annual rate in the first quarter. www.federalreserve.gov/releases/g17/current/default.htm May 15, 2019 - Testimony by Vice Chair for Supervision Randal K. Quarles - Supervision and Regulation Report - Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate, Washington, D.C. www.federalreserve.gov/newsevents/testimony/quarles20190515a.htm May 15, 2019 - NCUA Chairman Rodney E. Hood Congressional Testimony - Hearing on Oversight of Financial Regulators. www.ncua.gov/newsroom/testimony/2019/ncua-chairman-rodney-e-hood-congressional-testimony-hearing-oversight-financial-regulators May 150, 2019 - A New �Big Data� Index of U.S. Economic Activity By Scott A. Brave , R. Andrew Butters , David Kelley - Central banks around the globe are commonly charged with the responsibility of producing timely predictions of the current state of the economy in the course of conducting monetary policy. www.chicagofed.org/publications/economic-perspectives/2019/1 May 14, 2019 - Is Low Inflation a Problem for the United States? - By Esther George President and Chief Executive Officer Federal Reserve Bank of Kansas City. www.kansascityfed.org/~/media/files/publicat/speeches/2019/econclubofminneapolis2019may13egfinal_gk.pdf May 14, 2019 - Statement by Federal Reserve Board Chair Jerome H. Powell on the passing of Alice Rivlin. www.federalreserve.gov/newsevents/pressreleases/other20190514a.htm May 13, 2019 - Becky B. Potts Announced as Regional Executive of the Federal Reserve Bank of San Francisco�s Salt Lake City Branch. www.frbsf.org/our-district/press/news-releases/2019/becky-b-potts-announced-as-regional-executive-salt-lake-city-branch/ May 13, 2019 - Measuring Labor-Force Participation and the Incidence and Duration of Unemployment - Hie Joo Ahn and James D. Hamilton - The underlying data from which the U.S. unemployment rate, labor-force participation rate, and duration of unemployment are calculated contain numerous internal contradictions. www.federalreserve.gov/econres/feds/files/2019035pap.pdf May 13, 2019 - Speech by Vice Chair Clarida on the Federal Reserve�s review of its monetary policy strategy, tools, and communication practices At "New England Perspectives on Fed Policymaking: A 'Fed Listens' Conference" hosted by the Federal Reserve Bank of Boston, Boston, Massachusetts. www.federalreserve.gov/newsevents/speech/clarida20190513a.htm May 10, 2019 - Midwest Farmland Values Steady in First Quarter - According to the most recent AgLetter, Seventh District farmland values in the first quarter of 2019 were largely the same as a year ago. Values for �good� agricultural land in the first quarter of 2019 were 1 percent higher than in the fourth quarter of 2018. www.chicagofed.org/publications/agletter/index May 10, 2019 - St. Louis Fed Announces 2019 Investment Connection Series - The Federal Reserve Bank of St. Louis is kicking off the second full year of its Investment Connection program on May 21 in Memphis, Tenn., to be followed by other live events around the Eighth Federal Reserve District in 2019. www.stlouisfed.org/news-releases/2019/05/10/st-louis-fed-announces-2019-investment-connection-series May 10, 2019 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm May 10, 2019 - Supervision and Regulation Report - The Board of Governors of the Federal Reserve System believes that publishing periodic information about banking conditions and the Federal Reserve�s supervisory and regulatory activities�typically in conjunction with testimony before Congress by the Vice Chair for Supervision�will enhance public transparency and heighten accountability. www.federalreserve.gov/publications/files/201905-supervision-and-regulation-report.pdf May 10, 2019 - Speech by Governor Brainard at the 2019 Federal Reserve System Community Development Research Conference At "Renewing the Promise of the Middle Class" 2019 Federal Reserve System Community Development Research Conference, Washington, D.C. www.federalreserve.gov/newsevents/speech/brainard20190510a.htm May 9, 2019 - St. Louis Fed Ag Survey: Farm Incomes Continue to Decline - In the first quarter of 2019, farm income declined for the twenty-first consecutive quarter, according to the latest Agricultural Finance Monitor published by the Federal Reserve Bank of St. Louis. www.stlouisfed.org/news-releases/2019/05/09/st-louis-fed-ag-survey-farm-incomes-continue-to-decline May 9, 2019 - FDIC Announces Retirement of CFO Steve App and Other Senior Personnel Changes - Mr. App has served as CFO for the past 17 years and has almost 40 years of federal service. www.fdic.gov/news/news/press/2019/pr19039.html May 9, 2019 - Business Dynamics in the National Establishment Time Series - Leland D. Crane and Ryan A. Decker - Business microdata have proven useful in a number of fields, but the main sources of comprehensive microdata are subject to significant confidentiality restrictions. Leland D. Crane and Ryan A. Decker - Business microdata have proven useful in a number of fields, but the main sources of comprehensive microdata are subject to significant confidentiality restrictions. www.federalreserve.gov/econres/feds/files/2019034pap.pdf May 9, 2019 - Federal Reserve requests comment on potential modifications to operating hours for the Reserve Banks' National Settlement Service and Fedwire Funds Service - The Board also requested comment on corresponding changes to the Federal Reserve Policy on Payment System Risk related to a new posting time for transactions and an increased daylight overdraft fee. www.federalreserve.gov/newsevents/pressreleases/bcreg20190509b.htm May 9, 2019 - Federal Reserve approves final rule to repeal regulations that incorporated the Secure and Fair Enforcement for Mortgage Licensing Act - Entities that were subject to the Board's rules are now subject to the Bureau's rules. www.federalreserve.gov/newsevents/pressreleases/bcreg20190509a.htm ___________________________ May 9, 2019 - Fed's Evans Discusses the Risks of Attending and Financing College - A speech presented on May 9, 2019, at the Federal Reserve System Community Development Research Conference, Renewing the Promise of the Middle Class, in Washington, DC. www.chicagofed.org/publications/speeches/2019/the-risks-of-attending-and-financing-college May 9, 2019 - Business Dynamics in the National Establishment Time Series - Leland D. Crane and Ryan A. Decker - Business microdata have proven useful in a number of fields, but the main sources of comprehensive microdata are subject to significant confidentiality restrictions. www.federalreserve.gov/econres/feds/files/2019034pap.pdf May 9, 2019 - Welcoming remarks by Chair Powell at the 2019 Federal Reserve System Community Development Research Conference "Renewing the Promise of the Middle Class," Washington, D.C. www.federalreserve.gov/newsevents/speech/powell20190509a.htm May 8, 2019 - OCC Hosts Mutual Savings Association Advisory Committee Meeting on May 23 - The Office of the Comptroller of the Currency today announced it will host a public meeting of the Mutual Savings Association Advisory Committee on Thursday May 23, 2019, beginning at 8:30 a.m. Eastern Daylight Time. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-45.html May 8, 2019 - Monetary Policy, Housing Rents, and Inflation - Daniel Dias and Jo�o B. Duarte - In this paper we study the effect of monetary policy shocks on housing rents. Our main finding is that, in contrast to house prices, housing rents increase in response to contractionary monetary policy shocks. www.federalreserve.gov/econres/ifdp/files/ifdp1248.pdf May 8, 2019 - Speech by Governor Brainard at "Fed Listens" in Richmond on how monetary policy affects your community At the Federal Reserve Bank of Richmond, Richmond Community Listening Session, Richmond, Virginia. www.federalreserve.gov/newsevents/speech/brainard20190508a.htm May 7, 2019 - NCUA Offers Older Americans Valuable Information on Managing, Protecting Money - During Older Americans Month, the National Credit Union Administration is highlighting its online resources to help older adults manage money and protect against fraud and exploitation. www.ncua.gov/newsroom/press-release/2019/ncua-offers-older-americans-valuable-information-managing-protecting-money May 7, 2019 - Real Estate Settlement Procedures Act: Revised Comptroller's Handbook Booklet and Rescissions - The Office of the Comptroller of the Currency issued today the �Real Estate Settlement Procedures Act� booklet of the Comptroller's Handbook. www.occ.treas.gov/news-issuances/bulletins/2019/bulletin-2019-22.html May 7, 2019 - Proposed Revisions to the Consolidated Reports of Condition and Income - The banking agencies, under the auspices of the Federal Financial Institutions Examination Council, are requesting comment on proposed revisions to the Consolidated Reports of Condition and Income that would introduce reporting requirements associated with the agencies' recently proposed Community Bank Leverage Ratio. www.fdic.gov/news/news/financial/2019/fil19025.html May 7, 2019 - 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 increased at an annual rate of 1-1/2 percent, while nonrevolving credit increased 5-1/4 percent. In March, consumer credit increased at an annual rate of 3 percent. www.federalreserve.gov/releases/g19/current/default.htm May 7, 2019 - Federal Reserve Board announces termination of enforcement action with First American Bancorp. www.federalreserve.gov/newsevents/pressreleases/enforcement20190507a.htm May 6, 2019 - Fed's Evans speaks in Rome about Long-Term Economic Trends - A summary of a presentation delivered on May 6, 2019, at the Bank of Italy in Rome, Italy. Chicago Fed President Charles L. Evans discussed the implications of long-run economic trends for monetary policy frameworks and strategies. www.chicagofed.org/publications/speeches/2019/long-term-economic-trends-and-monetary-policy-frameworks-and-strategies May 6, 2019 - Proposed Revisions to the Consolidated Reports of Condition and Income for the Proposed Community Bank Leverage Ratio - On April 19, 2019, the Federal Deposit Insurance Corporation, the Federal Reserve Board, and the Office of the Comptroller of the Currency, under the auspices of the Federal Financial Institutions Examination Council, published in the Federal Register for public comment proposed changes to all three versions of the Call Report. www.fdic.gov/news/news/financial/2019/fil19024.html May 6, 2019 - Financial Stability Report - This report summarizes the Federal Reserve Board�s framework for assessing the resilience of the U.S. financial system and presents the Board�s current assessment. www.federalreserve.gov/publications/files/financial-stability-report-201905.pdf May 6, 2019 - Predicting Future Recessions - David S. Miller - This note introduces a general method to derive recession probabilities from forecasts using real-time data in parsimoniously specified logistic regressions. www.federalreserve.gov/econres/notes/feds-notes/predicting-future-recessions-20190506.htm May 6, 2019 - Senior Loan Officer Opinion Survey on Bank Lending Practices, April 2019 - Survey of up to eighty large domestic banks and twenty-four U.S. branches and agencies of foreign banks. www.federalreserve.gov/data/sloos.htm May 6, 2019 - Variance Risk Premium Components and International Stock Return Predictability - Juan M. Londono and Nancy R. Xu - In this paper, we document and explain the distinct behaviors of U.S. downside and upside variance risk premiums and their international stock return predictability patterns. www.federalreserve.gov/econres/ifdp/files/ifdp1247.pdf May 6, 2019 - 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 6, 2019. Matter(s) considered: Discussion of the May 2019 Supervision and Regulation Report. www.federalreserve.gov/aboutthefed/boardmeetings/20190506closed.htm May 6, 2019 - A Generalized Approach to Indeterminacy in Linear Rational Expectations Models - Francesco Bianchi and Giovanni Nicol� - We propose a novel approach to deal with the problem of indeterminacy in Linear Rational Expectations models. www.federalreserve.gov/econres/feds/files/2019033pap.pdf May 3, 2019 - Fed's Evans on Risk and Credibility in Monetary Policy at the NABE Conference in Stockholm - A speech presented May 3, 2019, at the National Association for Business Economics and Sveriges Riksbank conference, Global Economies at the Crossroads: Growing Together While Growing Apart, in Stockholm, Sweden. www.chicagofed.org/publications/speeches/2019/on-risk-and-credibility-in-monetary-policy May 3, 2019 - OCC Releases CRA Evaluations for 32 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, 2019 through April 30, 2019. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-44.html May 3, 2019 - Federal Reserve Bank of Kansas City announces officer promotions. www.kansascityfed.org/~/media/files/publicat/newsroom/2019/release_maypromotions_final.pdf May 3, 2019 - 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. The list covers evaluation ratings that the FDIC assigned to institutions in February 2019. www.fdic.gov/news/news/press/2019/pr19038.html May 3, 2019 - Some International Evidence for Keynesian Economics Without the Phillips Curve - Roger E.A. Farmer and Giovanni Nicol� - Farmer and Nicol� (2018) show that the Farmer Monetary-model outperforms the three-equation New-Keynesian -model in post war U.S. data. www.federalreserve.gov/econres/feds/files/2019032pap.pdf May 3, 2019 - FOIA - Chair Powell's calendar, March 2019. www.federalreserve.gov/foia/chairman-powell-calendar-032019.htm May 3, 2019 - Understanding Bank and Nonbank Credit Cycles: A Structural Exploration - C. Bora Durdu and Molin Zhong - We explore the structural drivers of bank and nonbank credit cycles using an estimated medium-scale macro model that allows for bank and nonbank financial intermediation. www.federalreserve.gov/econres/feds/files/2019031pap.pdf May 3, 2019 - When Simplicity Offers a Benefit, Not a Cost: Closed-Form Estimation of the GARCH(1,1) Model that Enhances the Efficiency of Quasi-Maximum Likelihood - Todd Prono - Simple, multi-step estimators are developed for the popular GARCH(1,1) model, where these estimators are either available entirely in closed form or dependent upon a preliminary estimate from, for example, quasi-maximum likelihood. Identification sources to asymmetry in the model's innovations, casting skewness as an instrument in a linear, two-stage least squares estimator. www.federalreserve.gov/econres/feds/files/2019030pap.pdf May 3, 2019 - Second Home Buyers and the Housing Boom and Bust - Daniel Garcia - Record-high second home buying (homeowners acquiring nonprimary residences) was a central feature of the 2000s boom, but the macroeconomic effects remain an open question partly because reliable geographic data is currently unavailable. www.federalreserve.gov/econres/feds/files/2019029pap.pdf May 3, 2019 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm May 3, 2019 - Speech by Vice Chair Clarida on models, markets, and monetary policy At the Hoover Institution Monetary Policy Conference "Strategies for Monetary Policy," Stanford University, Stanford, California. www.federalreserve.gov/newsevents/speech/clarida20190503a.htm May 3, 2019 - Federal Reserve Board invites comment on a proposal to apply netting protections to a broader range of financial institutions Banking and Consumer Regulatory Policy - The Federal Reserve Board on Friday requested comment on a proposal to reduce risk and increase efficiency in the financial system by applying netting protections to a broader range of financial institutions. www.federalreserve.gov/newsevents/pressreleases/bcreg20190503a.htm May 2, 2019 - 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 10:00 a.m. on May 6, 2019. Matter(s) considered: Discussion of the May 2019 Supervision and Regulation Repor. t www.federalreserve.gov/aboutthefed/boardmeetings/20190506closed.htm May 2, 2019 - Federal Reserve Board issues enforcement action with former employee of Centennial Bank. www.federalreserve.gov/newsevents/pressreleases/enforcement20190502a.htm May 2, 2019 - Federal Reserve System's Community Development Research Conference to focus on challenges faced by the middle class - The Federal Reserve System's Community Development Research Conference, "Renewing the Promise of the Middle Class," will be held May 9-10, 2019, in Washington, D.C. www.federalreserve.gov/newsevents/pressreleases/other20190502a.htm ______________________ May 1, 2019 - OCC Hosts Credit and Compliance Risk Workshops in Kentucky - The Office of the Comptroller of the Currency will host two workshops in Lexington, Kentucky, at the Four Points by Sheraton Lexington, June 4 and 5, for directors of national community banks and federal savings associations supervised by the OCC. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-43.html May 1, 2019 - The Federal Financial Institutions Examination Council�s State Liaison Committee today announced the re-election of Greg Gonzales, Commissioner of the Tennessee Department of Financial Institutions, as its Chairman. www.ffiec.gov/press/pr050119_1.htm May 1, 2019 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at on April 30, 2019 and continued at 9:00 a.m. on May 1, 2019. Matter(s) considered: Discussion of Monetary Policy Issues. https://www.federalreserve.gov/aboutthefed/boardmeetings/20190430closed.htm May 1, 2019 - Statistical Release - Foreign Exchange Rates - G.5 - The table below shows the average rates of exchange in APRIL 2019 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, 2019 - Federal Reserve issues FOMC statement - Information received since the Federal Open Market Committee met in March indicates that the labor market remains strong and that economic activity rose at a solid rate. www.federalreserve.gov/newsevents/pressreleases/monetary20190501a.htm |
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