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May 29, 2020 - What is Business Interruption Insurance and How is it Related to the Covid-19 Pandemic? - By Shanthi Ramnath - After nonessential businesses shut down their operations to slow the spread of the Covid-19 virus in March 2020, many business owners looked to their property insurance policies for relief. www.chicagofed.org/publications/chicago-fed-letter/2020/440 May 29, 2020 - Main Street Lending Program - The Main Street Lending Program is designed to provide support to small and medium-sized businesses and their employees across the United States during the current period of financial strain by supporting the provision of credit to such businesses. www.bostonfed.org/supervision-and-regulation/supervision/special-facilities/main-street-lending-program.aspx May 29, 2020 - NACU - IBEW Local Union 712 Closes; West Penn P&P Assumes Loans, Assets, Shares - The National Credit Union Administration today liquidated IBEW Local Union 712 Federal Credit Union in Beaver, Pennsylvania. www.ncua.gov/newsroom/press-release/2020/ibew-local-union-712-closes-west-penn-pp-assumes-loans-assets-shares May 29, 2020 - Acting Comptroller of the Currency Statement Regarding the ‘Madden’ Rule - Acting Comptroller of the Currency Brian P. Brooks today released the following statement regarding the Office of the Comptroller of the Currency’s final rule to clarify that when a national bank or savings association sells, assigns, or otherwise transfers a loan, interest permissible before the transfer continues to be permissible after the transfer. www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-72.html May 29, 2020 - OCC Issues Rule to Clarify Permissible Interest on Transferred Loans - The Office of the Comptroller of the Currency today finalized a rule to clarify that when a national bank or savings association sells, assigns, or otherwise transfers a loan, interest permissible before the transfer continues to be permissible after the transfer. www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-71.html May 29, 2020 - OCC Hosts Minority Depository Institutions Advisory Committee Meeting June 17 Via Remote Means - 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 17, 2020, via remote means. www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-70.html May 29, 2020 - Brian P. Brooks Statement on Becoming Acting Comptroller. www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-69.html May 29, 2020 - FDIC Issues CRA Examination Schedules for Third and Fourth Quarter 2020 - The Federal Deposit Insurance Corporation today issued the lists of institutions scheduled for a Community Reinvestment Act examination during the third and fourth quarter 2020. www.fdic.gov/news/news/press/2020/pr20064.html May 29, 2020 - Monitoring the Liquidity Profile of Mutual Funds - Sirio Aramonte, Chiara Scotti, and Ilknur Zer - Policymakers and academics have been particularly attuned to the issues of liquidity transformation and first mover advantage at open-end mutual funds. www.federalreserve.gov/econres/notes/feds-notes/monitoring-the-liquidity-profile-of-mutual-funds-20200529.htm May 29, 2020 - Report and Disclosures on Funding, Credit, Liquidity, and Loan Facilities - Periodic Report: Update on Outstanding Lending Facilities Authorized by the Board under Section 13(3) of the Federal Reserve Act: (1) Primary Market Corporate Credit Facility, (2) Secondary Market Corporate Credit Facility (3) Term Asset-Backed Securities Loan Facility. Secondary Market Corporate Credit Facility Transaction-specific Disclosures. www.federalreserve.gov/publications/files/pmccf-smccf-talf-5-29-20.pdf May 29, 2020 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm May 29, 2020 - Federal Reserve Board releases annual determination of aggregate consolidated liabilities of financial companies as required by the Dodd-Frank Act - The act prohibits a financial company from combining with another company if the resulting company's liabilities would exceed 10 percent of the aggregate consolidated liabilities of all financial companies. www.federalreserve.gov/newsevents/pressreleases/bcreg20200529a.htm May 29, 2020 - Federal Reserve Board releases results of survey of senior financial officers at banks about their strategies and practices for managing reserve balances. www.federalreserve.gov/newsevents/pressreleases/other20200529a.htm May 28, 2020 - The Hedging Channel of Exchange Rate Determination - Gordon Liao and Tony Zhang - We document the exchange rate hedging channel that connects country-level measures of net external financial imbalances with exchange rates. www.federalreserve.gov/econres/ifdp/the-hedging-channel-of-exchange-rate-determination.htm May 28, 2020 - The Geography of Small Business Dynamics - Simon Firestone - Business dynamism is a micro-foundation for economic growth. Productivity gains come from a reallocation of resources from less efficient to more efficient firms, often through entry of new firms and exit of existing firms. Decker et al (2014) and Akcigit and Ates (2019) discuss how declining business dynamism in the US is associated with lower productivity. www.federalreserve.gov/econres/notes/feds-notes/the-geography-of-small-business-dynamics-20200528.htm May 28, 2020 - A Comparison of Living Standards Across the States of America - Elena Falcettoni and Vegard Nygaard (University of Houston) - While a large body of literature has examined how welfare, or living standards, vary across countries, very little is known about how welfare varies within a given country. www.federalreserve.gov/econres/notes/feds-notes/a-comparison-of-living-standards-across-the-states-of-america-20200528.htm _____________________________ May 28, 2020 - What Are the Consequences of Missed Payments on Consumer Debts? - By Jonathan Lanning , Jonathan Rose In order to understand better how the unfolding economic crisis is likely to affect U.S. households, this Chicago Fed Letter looks at what happens when borrowers miss debt payments and how long it takes for them to face a severe adverse consequence, such as foreclosure, wage garnishment, or repossession. www.chicagofed.org/publications/chicago-fed-letter/2020/437 May 28, 2020 - Interest-Only Mortgages and Speculation in Hot Housing Markets By Gadi Barlevy , Jonas D. M. Fisher - Even as housing markets have temporarily shut down across the U.S. during the Covid-19 pandemic, housing remains a key sector that contributes disproportionately to fluctuations in overall economic activity and that will likely play an important role as the economy reopens. www.chicagofed.org/publications/chicago-fed-letter/2020/439 May 28, 2020 - Federal Open Market Committee - Historical Memos, 1955-63 - Preceding each FOMC meeting, the FOMC Secretariat distributes to the Committee memos covering a range of subjects. A selection of these memos is available on this site. www.federalreserve.gov/monetarypolicy/fomc-memos-by-year.htm May 28, 2020 - Federal Reserve Banks Combined Quarterly Financial Reports (Unaudited), Q1 2020 - 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/combined-quarterly-financial-reports-unaudited.htm May 28, 2020 - Federal Reserve Board issues enforcement actions and announces termination of enforcement action. www.federalreserve.gov/newsevents/pressreleases/enforcement20200528a.htm May 28, 2020 - 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 11:30 a.m. on June 1, 2020. 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/20200601closed.htm May 28, 2020 - NCUA�s Harper: Joining the CLF Will Bolster the System�s Access to Liquidity - Credit unions can significantly bolster the entire system�s access to emergency liquidity by joining the Central Liquidity Facility, National Credit Union Administration Board Member Todd M. Harper said. www.ncua.gov/newsroom/press-release/2020/ncuas-harper-joining-clf-will-bolster-systems-access-liquidity May 27, 2020 - NCUA to Host Bank Secrecy Act Webinar - Credit unions will receive valuable information on best practices in Bank Secrecy Act programs and avoiding pitfalls from non-compliance during a National Credit Union Administration webinar, �The Bank Secrecy Act: Review and Reminders,� scheduled for June 17. www.ncua.gov/newsroom/press-release/2020/ncua-host-bank-secrecy-act-webinar May 27, 2020 - OCC Issues Third and Fourth Quarter 2020 CRA Evaluation Schedule - The Office of the Comptroller of the Currency (OCC) today released its schedule of Community Reinvestment Act evaluations to be conducted in the third quarter and fourth quarter 2020. www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-68.html May 27, 2020 - Beige Book - Informal review by the Federal Reserve Banks of current economic conditions in their Districts. www.federalreserve.gov/monetarypolicy/beigebook202005.htm May 27, 2020 - Community Reinvestment Act Consideration for Activities in Response to the Coronavirus - The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency have issued the attached Frequently Asked Questions on CRA consideration for activities in response to the Coronavirus Disease. www.federalreserve.gov/supervisionreg/caletters/caltr2010.htm May 27, 2020 - Global Trade and GDP Co-Movement - Fran�ois de Soyres and Alexandre Gaillard - We revisit the association between trade and GDP comovement for 135 countries from 1970 to 2009. Guided by a simple theory, we introduce two notions of trade linkages: (i) the usual direct bilateral trade index and (ii) new indexes of common exposure to third countries capturing the role of similarity in trade networks. www.federalreserve.gov/econres/ifdp/global-trade-and-gdp-co-movement.htm May 26, 2020 - Chicago Fed National Activity Index Suggests Economic Growth Fell Substantially in April - Led by declines in production- and employment-related indicators, the Chicago Fed National Activity Index fell to �16.74 in April from �4.97 in March. www.chicagofed.org/~/media/publications/cfnai/2020/cfnai-may2020-pdf.pdf May 26, 2020 - Sampling Methodologies : Revised Comptroller�s Handbook Booklet - The Office of the Comptroller of the Currency today issued the revised �Sampling Methodologies� booklet of the Comptroller�s Handbook. www.occ.gov/news-issuances/bulletins/2020/bulletin-2020-56.html May 26, 2020 - Director, Shareholder, and Member Meetings : Interim Final Rule - The Office of the Comptroller of the Currency is issuing an interim final rule that amends 12 CFR 5 and 7 to clarify that national banks and federal savings associations may permit telephonic and electronic participation at all board of directors, shareholder, and, as applicable, member meetings. www.occ.gov/news-issuances/bulletins/2020/bulletin-2020-55.html May 26, 2020 - The Impact of Financial Sanctions: The Case of Iran 2011-2016 - Saeed Ghasseminejad and Mohammad R. Jahan-Parvar - This study provides a detailed analysis of the impact of financial sanctions on publicly traded companies. www.federalreserve.gov/econres/ifdp/the-impact-of-financial-sanctions-the-case-of-iran-2011-2016.htm May 26, 2020 - Analyzing the Community Bank Leverage Ratio - Bert Loudis, Daniel Nguyen, and Carlo Wix - This note analyzes the newly introduced Community Bank Leverage Ratio framework. The analysis covers the framework's eligibility, its capital stringency, and its potential impact on system-wide capital levels under a hypothetical adverse scenario. www.federalreserve.gov/econres/notes/feds-notes/analyzing-the-community-bank-leverage-ratio-20200526.htm May 26, 2020 - How do children spend their time? Time use and skill development in the PSID - Hannah Hall and Eric Nielsen - As income and wealth inequality have grown in the United States in recent decades, the large and growing differences in household expenditures on children from advantaged versus disadvantaged backgrounds have increasingly become a matter of public concern. www.federalreserve.gov/econres/notes/feds-notes/how-do-children-spend-their-time-time-use-and-skill-development-in-the-psid-20200526.htm May 26, 2020 - Federal Reserve Board extends the application period for membership on the Community Advisory Council - The Federal Reserve Board has extended until July 3, 2020, the application period for membership on the Community Advisory Council. www.federalreserve.gov/newsevents/pressreleases/other20200526a.htm May 26, 2020 - Minutes of the Board's discount rate meeting on April 29, 2020. www.federalreserve.gov/newsevents/pressreleases/files/monetary20200526a1.pdf May 24, 2020 - Report on Funding, Credit, Liquidity, and Loan Facilities - Periodic Report: Update on Outstanding Lending Facilities Authorized by the Board under Section 13(3) of the Federal Reserve Act: (1) Primary Dealer Credit Facility, (2) Commercial Paper Funding Facility, (3) Money Market Mutual Fund Liquidity Facility. www.federalreserve.gov/publications/files/pdcf-cpff-mmlf-5-24-20.pdf May 22, 2020 - Post-crisis Signals in Securitization: Evidence from Auto ABS - Elizabeth Klee and Chaehee Shin - We find significant evidence of asymmetric information and signaling in post-crisis offerings in the auto asset-backed securities market. www.federalreserve.gov/econres/feds/files/2020042pap.pdf May 22, 2020 - A Comparison of Living Standards Across the States of America - Elena Falcettoni and Vegard M. Nygaard - We use an expected utility framework to examine how living standards vary across the United States and how each state's living standards have evolved over time. Our welfare measure accounts for cross-state variations in mortality, consumption, education, inequality, and cost of living. www.federalreserve.gov/econres/feds/a-comparison-of-living-standards-across-the-states-of-america.htm May 22, 2020 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm May 22, 2020 - Bank Lending in the Knowledge Economy - Giovanni Dell'Ariccia, Dalida Kadyrzhanova, Camelia Minoiu, and Lev Ratnovski - We study the composition of bank loan portfolios during the transition of the real sector to a knowledge economy where firms increasingly use intangible capital. www.federalreserve.gov/econres/feds/files/2020040pap.pdf May 22, 2020 - Zeroing in on the Expected Returns of Anomalies - Andrew Y. Chen and Mihail Velikov - We zero in on the expected returns of long-short portfolios based on 120 stock market anomalies by accounting for (1) effective bid-ask spreads, (2) post-publication effects, and (3) the modern era of trading technology that began in the early 2000s. www.federalreserve.gov/econres/feds/files/2020039pap.pdf May 21, 2020 - NCUA Board Member Todd M. Harper Statement on the Interim Final Rule on Overdrafts. www.ncua.gov/newsroom/speech/2020/ncua-board-member-todd-m-harper-statement-interim-final-rule-overdrafts May 21, 2020 - NCUA Board Member Todd M. Harper Statement on Interim Final Rule on Capital Adequacy and Prompt Corrective Action. www.ncua.gov/newsroom/speech/2020/ncua-board-member-todd-m-harper-statement-interim-final-rule-capital-adequacy-and-prompt-corrective May 21, 2020 - NCUA Board Member Todd M. Harper Statement on the Proposed Rule on Joint-Ownership Share Accounts. www.ncua.gov/newsroom/speech/2020/ncua-board-member-todd-m-harper-statement-proposed-rule-joint-ownership-share-accounts May 21, 2020 - NCUA Chairman Rodney E. Hood Statement on the Interim Final Rule Amending NCUA�s Prompt Corrective Action Requirements. www.ncua.gov/newsroom/speech/2020/ncua-chairman-rodney-e-hood-statement-interim-final-rule-amending-ncuas-prompt-corrective-action May 21, 2020 - NCUA Chairman Rodney E. Hood Statement on the Interim Final Rule on Overdrafts. www.ncua.gov/newsroom/speech/2020/ncua-chairman-rodney-e-hood-statement-interim-final-rule-overdrafts May 21, 2020 - NCUA Chairman Rodney E. Hood Opening Statement During the May 2020 Open Meeting of the NCUA Board. www.ncua.gov/newsroom/speech/2020/ncua-chairman-rodney-e-hood-opening-statement-during-may-2020-open-meeting-ncua-board May 21, 2020 - Investments in Areas with Elevated Poverty and Public Welfare Investments - The Board of Governors of the Federal Reserve System is issuing this letter to inform state member banks of a recent determination made under the Public Welfare Investment provision of the Federal Reserve Act that certain investments in �elevated poverty areas,� as defined below, qualify as investments in low- or moderate-income areas. www.federalreserve.gov/supervisionreg/caletters/caltr2009.htm May 21, 2020 - Speech by Governor Lael Brainard At �A Fed Listens Event: How Is COVID-19 Affecting Your Community?,� sponsored by the Board of Governors of the Federal Reserve System, Washington, D.C., (via webcast) - Introductory Remarks for the Fed Listens panel on the COVID-19 pandemic. www.federalreserve.gov/newsevents/speech/brainard20200521a.htm May 20, 2020 - Revisions to the Supplementary Leverage Ratio for Custodial Banking Organizations and Custody Banks : Final Rule - On January 27, 2020, 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 final rule that excludes 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.gov/news-issuances/bulletins/2020/bulletin-2020-53.html May 20, 2020 - Small-Dollar Lending : Interagency Lending Principles for Offering Responsible Small-Dollar Loans - The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the National Credit Union Administration today issued the "Interagency Lending Principles for Offering Responsible Small-Dollar Loans." www.occ.gov/news-issuances/bulletins/2020/bulletin-2020-54.html Mau 20, 2020 - St. Louis Fed Offers Virtual Personal Finance Camp - Summer 2020 presents special challenges to parents and guardians, including keeping younger children occupied and engaged. The Federal Reserve Bank of St. Louis is offering a free Personal Finance Virtual Summer Camp for children nationwide. www.stlouisfed.org/news-releases/2020/05/20/st-louis-fed-offers-virtual-personal-finance-camp May 19, 2020 - St. Louis Fed Memphis Branch Presents: Regional Economy Before and After COVID-19 - The Memphis Branch of the Federal Reserve Bank of St. Louis is hosting a virtual Breakfast with the Fed presentation on Friday, May 22, 2020. www.stlouisfed.org/news-releases/2020/05/19/st-louis-fed-memphis-branch-presents-regional-economy-before-and-after-covid ___________________________________ May 21, 2020 - 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/2020/nr-occ-2020-67.html May 21, 2020 - Comptroller of the Currency Joseph Otting to Step Down, Brian P. Brooks to Become Acting Comptroller of the Currency on May 29, 2020 www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-66.html May 21, 2020 - Speech by Vice Chair Richard H. Clarida U.S. Economic Outlook and Monetary Policy At the New York Association for Business Economics, New York, New York (via webcast). www.federalreserve.gov/newsevents/speech/clarida20200521a.htm May 21, 2020 - 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 21, 2020. Matter(s) considered: Periodic Supervisory Update. www.federalreserve.gov/aboutthefed/boardmeetings/20200521closed.htm May 20, 2020 - Revisions to the Supplementary Leverage Ratio for Custodial Banking Organizations and Custody Banks : Final Rule - On January 27, 2020, 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 final rule that excludes 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.gov/news-issuances/bulletins/2020/bulletin-2020-53.html May 20, 2020 - Comptroller of the Currency Highlights Final Rule Strengthening and Modernizing the Community Reinvestment Act - Comptroller of the Currency Joseph M. Otting today issued the following statement on the finalization of a rule to strengthen and modernize Community Reinvestment Act regulations. www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-64.html May 20, 2020 - OCC Finalizes Rule to Strengthen and Modernize Community Reinvestment Act Regulations - The Office of the Comptroller of the Currency today released a final rule strengthening and modernizing the agency�s regulations under the Community Reinvestment Act. www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-63.html May 20, 2020 - St. Louis Fed Offers Virtual Personal Finance Camp - Summer 2020 presents special challenges to parents and guardians, including keeping younger children occupied and engaged. The Federal Reserve Bank of St. Louis is offering a free Personal Finance Virtual Summer Camp for children nationwide. www.stlouisfed.org/news-releases/2020/05/20/st-louis-fed-offers-virtual-personal-finance-camp May 20, 2020 - Machine Learning, the Treasury Yield Curve and Recession Forecasting - Michael Puglia and Adam Tucker - We use machine learning methods to examine the power of Treasury term spreads and other financial market and macroeconomic variables to forecast US recessions, vis-�-vis probit regression. www.federalreserve.gov/econres/feds/machine-learning-the-treasury-yield-curve-and-recession-forecasting.htm May 20, 2020 - Equity Financing Risk - Mamdouh Medhat and Berardino Palazzo - A risk factor linked to aggregate equity issuance conditions explains the empirical performance of investment factors based on the asset growth anomaly of Cooper, Gulen, and Schill (2008). www.federalreserve.gov/econres/feds/equity-financing-risk.htm May 20, 2020 - Federal agencies share principles for offering responsible small-dollar loans- The federal financial institution regulatory agencies today issued principles for offering small-dollar loans in a responsible manner to meet financial institutions customers' short-term credit needs. Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20200520a.htm Press Release: www.fdic.gov/news/news/press/2020/pr20061.html Press Release: www.occ.gov/news-issuances/news-releases/2020/nr-ia-2020-65.html Press Release: www.ncua.gov/newsroom/press-release/2020/federal-agencies-share-principles-offering-responsible-small-dollar-loans May 20, 2020 - Minutes of the Federal Open Market Committee, April 28-29, 2020. www.federalreserve.gov/newsevents/pressreleases/monetary20200520a.htm May 19, 2020 - Financial Life After the Death of a Spouse - By Itzik Fadlon , Shanthi Ramnath , Patricia K. Tong , Lisa Camner McKay - The death of a spouse results in a considerable decline in average income for the surviving spouse. The Social Security survivors benefits program compensates the surviving spouse, most often a woman, for almost all of the lost income, allowing them to work less, but many widows who are not yet eligible for the program struggle to meet their financial needs. www.chicagofed.org/publications/chicago-fed-letter/2020/438 May 19, 2020 - NCUA Launches Culture, Diversity, and Inclusion Council - The National Credit Union Administration took a significant step in making the agency a more inclusive organization with the launch of its new Culture, Diversity, and Inclusion Council. www.ncua.gov/newsroom/press-release/2020/ncua-launches-culture-diversity-and-inclusion-council May 19, 2020 - St. Louis Fed Memphis Branch Presents: Regional Economy Before and After COVID-19 - The Memphis Branch of the Federal Reserve Bank of St. Louis is hosting a virtual Breakfast with the Fed presentation on Friday, May 22, 2020. www.stlouisfed.org/news-releases/2020/05/19/st-louis-fed-memphis-branch-presents-regional-economy-before-and-after-covid May 19, 2020 - Supervision Manual - Commercial Bank Examination Manual, April 2020 - The Commercial Bank Examination Manual presents examination objectives and procedures that Federal Reserve System examiners follow in evaluating the safety and soundness of state member banks. Intended as guidance for planning and conducting bank examinations. www.federalreserve.gov/publications/supervision_cbem.htm May 19, 2020 - Should Children Do More Enrichment Activities? Leveraging Bunching to Correct for Endogeneity - Carolina Caetano, Gregorio Caetano, and Eric Nielsen - We study the effects of enrichment activities such as reading, homework, and extracurricular lessons on children's cognitive and non-cognitive skills. www.federalreserve.gov/econres/feds/should-children-do-more-enrichment-activities-leveraging-bunching-to-correct-for-endogeneity.htm May 19, 2020 - 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 21, 2020. Matter(s) considered: Periodic Supervisory Update. www.federalreserve.gov/aboutthefed/boardmeetings/20200521closed.htm May 19, 2020 - Testimony by Chair Jerome H. Powell Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate, Washington, D.C. - Coronavirus and CARES Act. www.federalreserve.gov/newsevents/testimony/powell20200519a.htm May 18, 2020 - The Economics of Platforms in a Walrasian Framework - Anil K. Jain and Robert M. Townsend - We present a tractable model of platform competition in a general equilibrium setting. We endogenize the size, number, and type of each platform, while allowing for different user types in utility and impact on platform costs. www.federalreserve.gov/econres/ifdp/the-economics-of-platforms-in-a-walrasian-framework.htm May 18, 2020 - Statistical Release - Finance Companies - G.20. www.federalreserve.gov/releases/g20/current/g20.htm May 18, 2020 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at 11:00 a.m. on May 18, 2020. Matter(s) considered: Review and determination by the Board of Governors of the charged by the Federal Reserve Banks. www.federalreserve.gov/aboutthefed/boardmeetings/20200518closed.htm May 15, 2020 - Supplementary Leverage Ratio: Interim Final Rule - The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation today approved an interim final rule that permits depository institutions subject to the supplementary leverage ratio to elect to temporarily exclude U.S. Treasury securities and deposits at Federal Reserve Banks from the SLR denominator. www.occ.gov/news-issuances/bulletins/2020/bulletin-2020-52.html May 15, 2020 - 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-20200515.pdf May 15, 2020 - Credit and Liquidity Programs and the Balance Sheet Recent balance sheet trends, weekly chart update - The Federal Reserve's balance sheet has expanded and contractedover time. During the 2007-08 financial crisis and subsequentrecession, total assets increased significantly from $870 billion inAugust 2007 to $4.5 trillion in early 2015. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm May 15, 2020 - Industrial Production and Capacity Utilization - G.17 - Total industrial production fell 11.2 percent in April for its largest monthly drop in the 101-year history of the index, as the COVID-19 pandemic led many factories to slow or suspend operations throughout the month. www.federalreserve.gov/releases/g17/current/default.htm May 15, 2020 - Regulators temporarily change the supplementary leverage ratio to increase banking organizations' ability to support credit to households and businesses in light of the coronavirus response. - The temporary modifications will provide flexibility to certain depository institutions to expand their balance sheets in order to provide credit to households and businesses in light of the challenges arising from the coronavirus response. Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20200515a.htm Press Release: www.occ.gov/news-issuances/news-releases/2020/nr-ia-2020-62.html Press Release: www.fdic.gov/news/news/press/2020/pr20060.html May 14, 2020 - In the Latest Edition of AgLetter - Midwest Farmland Values Little Changed in the First Quarter - According to the most recent AgLetter, Seventh District farmland values in the first quarter of 2020 were 1 percent higher than a year ago, despite challenges for the farm sector related to Covid-19. Moreover, values for �good� agricultural land in the first quarter of 2020 were largely the same as in the fourth quarter of 2019. www.chicagofed.org/publications/agletter/index May 14, 2020 - Federal Reserve Board issues Report on the Economic Well-Being of U.S. Households - Financial circumstances were generally positive for most adults at the end of 2019. www.federalreserve.gov/newsevents/pressreleases/other20200514a.htm _______________________________________ May 14, 2020 - Federal Reserve Board issues Report on the Economic Well-Being of U.S. Households - Financial circumstances were generally positive for most adults at the end of 2019. www.federalreserve.gov/newsevents/pressreleases/other20200514a.htm May 14, 2020 - 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 11:30 a.m. on May 18, 2020. www.federalreserve.gov/aboutthefed/boardmeetings/20200518closed.htm May 13, 2020 - Preserving Minority Depository Institutions, May 2020. www.federalreserve.gov/publications/files/preserving-minority-depository-institutions-2020.pdf May 13, 2020 - Speech by Chair Powell on current economic issues Chair Jerome H. Powell At the Peterson Institute for International Economics, Washington, D.C. (via webcast). www.federalreserve.gov/newsevents/speech/powell20200513a.htm May 13, 2020 - NCUA Chairman Rodney E. Hood Written Statement - House Committee on Financial Services. www.ncua.gov/newsroom/testimony/2020/ncua-chairman-rodney-e-hood-written-statement-house-committee-financial-services May 12, 2020 - Chicago Fed Survey of Business Conditions Suggests Growth Slowed Further in April - The Chicago Fed Survey of Business Conditions Activity Index decreased to −69 in April from �55 in March, suggesting that economic growth remained well below trend. www.chicagofed.org/~/media/publications/cfsbc/2020/cfsbc-may2020-pdf.pdf May 12, 2020 - NCUA Chairman Rodney E. Hood Congressional Testimony - Hearing on Oversight of Financial Regulators www.ncua.gov/newsroom/testimony/2020/ncua-chairman-rodney-e-hood-congressional-testimony-hearing-oversight-financial-regulators May 12, 2020 - Corporate Governance : Annual Meetings and the COVID-19 Emergency - The Office of the Comptroller of the Currency recognizes the recent disruptions and significant challenges faced by banks as a result of the coronavirus disease emergency. www.occ.gov/news-issuances/bulletins/2020/bulletin-2020-51.html May 12, 2020 - Comptroller of the Currency Discusses Efforts to Support the Federal Banking System's Response to COVID-19 - The Comptroller's testimony discussed the agency's efforts to support the safe, sound, and fair operation of the federal banking system and promote its ability to meet the needs of its customers during the national public health emergency created by COVID-19. www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-61.html May 12, 2020 - Emerging Trends in U.S and Oklahoma Economies By Chad Wilkerson Vice President, Economist and Oklahoma City Branch Executive. www.kansascityfed.org/~/media/files/publicat/speeches/2020/wilkerson-2020-05-12-central-ok-manufacturing.pdf www.kansascityfed.org/~/media/files/publicat/speeches/2020/wilkerson-2020-05-12-latino-leadership-class.pdf www.kansascityfed.org/~/media/files/publicat/speeches/2020/wilkerson-2020-05-12-western-us-ditch-witch-dealers.pdf May 12, 2020 - FDIC Issues Proposed Rule to Mitigate the Deposit Insurance Assessment Effect of Participation in the Paycheck Protection Program, the PPP Lending Facility, and the Money Market Mutual Fund Liquidity Facility - The Federal Deposit Insurance Corporation today approved a notice of proposed rulemaking that would mitigate the deposit insurance assessment effects of participating in the Paycheck Protection Program established by the U.S. Small Business Administration and the Paycheck Protection Program Lending Facility and Money Market Mutual Fund Liquidity Facility established by the Board of Governors of the Federal Reserve System. www.fdic.gov/news/news/press/2020/pr20059.html May 12, 2020 - Testimony by Vice Chair for Supervision Randal K. Quarles Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate, Washington, D.C. www.federalreserve.gov/newsevents/testimony/quarles20200512a.htm May 12, 2020 - Federal Reserve publishes updates to the term sheet for the Term Asset-Backed Securities Loan Facility and announces information to be disclosed monthly for the TALF and the Paycheck Protection Program Liquidity Facility. www.federalreserve.gov/newsevents/pressreleases/monetary20200512a.htm May 11, 2020 - Covid-19: A Plague on All Our Houses - A speech presented on May 11, 2020, to the Lansing Regional Chamber of Commerce in Lansing, Michigan. www.chicagofed.org/publications/speeches/2020/covid-19 May 11, 2020 - What Are the Consequences of Missed Payments on Consumer Debts? By Jonathan Lanning , Jonathan Rose - In order to understand better how the unfolding economic crisis is likely to affect U.S. households, this Chicago Fed Letter looks at what happens when borrowers miss debt payments and how long it takes for them to face a severe adverse consequence, such as foreclosure, wage garnishment, or repossession. www.chicagofed.org/publications/chicago-fed-letter/2020/437 May 11, 2020 - Testimony by Vice Chair for Supervision Randal K. Quarles Vice Chair for Supervision Randal K. Quarles Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate, Washington, D.C. www.federalreserve.gov/newsevents/testimony/quarles20200512a.htm May 11, 2020 - Real Effects of Uncertainty: Evidence from Brexit - Anna Lipinska and Musa Orak - In the historic Brexit referendum on June 23, 2016, U.K. citizens voted in favor of leaving the European Union, a result that created substantial uncertainty regarding the future economic relationship between the United Kingdom and the EU. www.federalreserve.gov/econres/notes/feds-notes/real-effects-of-uncertainty-evidence-from-brexit-20200511.htm May 11, 2020 - Federal Reserve publishes updates to the term sheet for the Municipal Liquidity Facility - The Federal Reserve Board on Monday published updates to the term sheet for the Municipal Liquidity Facility to provide pricing and other information. www.federalreserve.gov/newsevents/pressreleases/monetary20200511a.htm May 8, 2020 - The Stay-at-Home Labor Market: Google Searches, Unemployment Insurance, and Public Health Orders By Daniel Aaronson , Scott A. Brave , R. Andrew Butters , Michael Fogarty - This article looks at the relationships between internet searches for unemployment-related terms, unemployment insurance, and the public health orders issued in the U.S. during the Covid-19 pandemic. www.chicagofed.org/publications/chicago-fed-letter/2020/436 May 8, 2020 - Federal Reserve Survey Shows Impact of COVID-19 on Communities Nationwide - By Emily Engel - A new report from the 12 Federal Reserve banks and the Board of Governors of the Federal Reserve System shows the scope and scale of the challenges that communities throughout the country face amid the COVID-19 pandemic. www.chicagofed.org/publications/blogs/cdps/2020/federal-reserve-survey-shows-impact-covid19 May 8, 2020 - Supervision and Regulation Report - The report summarizes banking conditions and the Federal Reserve�s supervisory and regulatory activities, in conjunction with semiannual testimony before Congress by the Vice Chairman for Supervision. www.federalreserve.gov/publications/files/202005-supervision-and-regulation-report.pdf May 8, 2020 - Legal Developments - Section 19 letters, June 19, 2019 (1 letter), February 19 (1 letter), and March 11 (3 letters), 2020. www.federalreserve.gov/supervisionreg/ordersother2020.htm May 8, 2020 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm May 8, 2020 - Reports to Congress Pursuant to Section 13(3) of the Federal Reserve Act in response to COVID-19. www.federalreserve.gov/publications/reports-to-congress-in-response-to-covid-19.htm May 8, 2020 - Federal financial regulatory agencies issue interagency policy statement on allowances for credit losses and interagency guidance on credit risk review systems - The statement will promote consistency in the interpretation and application of the Financial Accounting Standards Board's credit losses accounting standard, which introduces the current expected credit losses methodology. Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20200508a.htm Press Release: www.fdic.gov/news/news/press/2020/pr20058.html Press Release: www.occ.gov/news-issuances/news-releases/2020/nr-ia-2020-60.html Press Release: www.ncua.gov/newsroom/press-release/2020/federal-financial-regulatory-agencies-issue-interagency-policy-statement-allowances-credit-losses May 7, 2020 - Emerging Markets and the New Geography of Trade: The Effects of Rising Trade Barriers - Ricardo Reyes-Heroles, Sharon Traiberman, and Eva Van Leemput - Protectionist sentiments have been rising globally in recent years. www.federalreserve.gov/econres/ifdp/emerging-markets-and-the-new-geography-of-trade-the-effects-of-rising-trade-barriers.htm May 7, 2020 - Uncertainty and Growth Disasters - Boyan Jovanovic and Sai Ma - This paper documents several stylized facts on the real effects of economic uncertainty. www.federalreserve.gov/econres/ifdp/uncertainty-and-growth-disasters.htm May 7, 2020 - Statistical Release - Consumer Credit - G.19 - Starting with the April 2020 G.19 Consumer Credit statistical release, scheduled to be published on June 5, 2020, the release will no longer report the levels and flows of on-book loan balances and off-book securitized loan balances as separate line items. www.federalreserve.gov/releases/g19/current/default.htm _______________________________ FYI - Two Charged with Stimulus Fraud - First in the nation to be charged with fraudulently seeking CARES Act SBA Paycheck Protection Loans - Two businessmen have been charged in the District of Rhode Island with allegedly filing bank loan applications fraudulently seeking more than a half-million dollars in forgivable loans guaranteed by the Small Business Administration (SBA) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. https://www.fdicoig.gov/press-release/two-charged-stimulus-fraud? May 7, 2020 - St. Louis Fed Launches Bank On National Data Hub and Affordable Banking Analysis - Bank On National Data Hub: Findings from the First Year analyzes high-quality data (2018) from 10 financial institutions showing the take-up and usage of Bank On certified accounts across the U.S. www.stlouisfed.org/news-releases/2020/05/07/st-louis-fed-launches-bank-on-national-data-hub May 7, 2020 - Measuring Detroit�s Economic Progress with the DEAI By Scott A. Brave , Ross Cole , Paul Traub - This article explains what the Detroit Economic Activity Index tells us about Detroit�s economic progress as of late 2019. Although the rate of progress had slowed some since 2016, the city continued to make headway last year in its recovery from bankruptcy. www.chicagofed.org/publications/chicago-fed-letter/2020/434 May 7, 2020 - Regulatory Relief: Guidance to Help Financial Institutions and Facilitate Recovery in Areas of South Carolina Affected by Severe Storms, Tornadoes and Straight-Line Winds www.fdic.gov/news/news/financial/2020/fil20053.html May 7, 2020 - NCUA Changes Low-Income Designation to Include Military Personnel in Calculation - The National Credit Union Administration is expanding its approach when considering military personnel in determining whether a credit union qualifies for the low-income designation, the agency announced today. www.ncua.gov/newsroom/press-release/2020/ncua-changes-low-income-designation-include-military-personnel-calculation May 6, 2020 - The Stay-at-Home Labor Market: Google Searches, Unemployment Insurance, and Public Health Orders By Daniel Aaronson , Scott A. Brave , R. Andrew Butters , Michael Fogarty - This article looks at the relationships between internet searches for unemployment-related terms, unemployment insurance, and the public health orders issued in the U.S. during the Covid-19 pandemic. www.chicagofed.org/publications/chicago-fed-letter/2020/436 May 6, 2020 - Liquidity Coverage Ratio : Interim Final Rule Addressing Treatment of Certain Emergency Facilities - The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation issued on May 5, 2020, an interim final rule to amend the liquidity coverage ratio rule to neutralize the impact of banks' using two of the liquidity facilities recently created by the Federal Reserve to stabilize the financial system. www.occ.gov/news-issuances/bulletins/2020/bulletin-2020-48.html May 6, 2020 - Kansas City Fed releases semi-annual update of the Bank Capital Analysis - The Federal Reserve Bank of Kansas City today released the December 31, 2019 results from its semiannual Bank Capital Analysis, which provides an objective and data-based approach to judging capital strength across the banking industry. www.kansascityfed.org/~/media/files/publicat/banking/bca/5-6-2020-release/pressrelease123119bcafinal.pdf May 6, 2020 - Flood Insurance Compliance in Response to the Coronavirus - On March 9, the Federal Reserve Board and the other federal financial institution regulatory agencies and state bank regulators issued a statement to encourage financial institutions to meet the financial services needs of their customers and members in areas affected by the coronavirus. www.federalreserve.gov/supervisionreg/caletters/caltr2007.htm May 6, 2020 - Agencies extend two resolution plan deadlines - In light of the challenges arising from the coronavirus response, the Federal Deposit Insurance Corporation and the Federal Reserve Board today announced two extensions to upcoming resolution plan deadlines. Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20200506a.htm Press Release: www.fdic.gov/news/news/press/2020/pr20057.html May 5, 2020 - St. Louis Fed Offers Test Prep Resources for AP Macroeconomics Students Nationwide - As schools across the nation adapt to the current climate, the Federal Reserve Bank of St. Louis is helping U.S. high school students and teachers prepare for the College Board�s upcoming AP Macroeconomics Exam, which will take place in an online format. www.stlouisfed.org/news-releases/2020/05/05/st-louis-fed-offers-test-prep-resources-for-ap-macro-students May 5, 2020 - Speech by Governor Lael Brainard At the "Investment Connection � Response to COVID-19: Colorado" webinar series hosted by the Federal Reserve Bank of Kansas City, Kansas City, Missouri. www.federalreserve.gov/newsevents/speech/brainard20200505a.htm May 5, 2020 - 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 2:00 p.m. on May 7, 2020. Matter(s) considered: Discussion of the Semiannual Financial Stability Report. www.federalreserve.gov/aboutthefed/boardmeetings/20200507closed.htm May 5, 2020 - Monetary Policy, Self-Fulfilling Expectations and the U.S. Business Cycle - Giovanni Nicol� - I estimate a medium-scale New-Keynesian model and relax the conventional assumption that the central bank adopted an active monetary policy by pursuing inflation and output stability over the entire post-war period. www.federalreserve.gov/econres/feds/monetary-policy-self-fulfilling-expectations-and-the-us-business-cycle.htm May 5, 2020 - Federal bank regulatory agencies modify liquidity coverage ratio for banks participating in Money Market Mutual Fund Liquidity Facility and Paycheck Protection Program Liquidity Facility - To support the flow of credit to households and businesses, the federal bank regulatory agencies today announced an interim final rule that modifies the agencies' Liquidity Coverage Ratio rule to support banking organizations' participation in the Federal Reserve's Money Market Mutual Fund Liquidity Facility and the Paycheck Protection Program Liquidity Facility. Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20200505a.htm Press Release: www.fdic.gov/news/news/press/2020/pr20056.html Press Release: www.occ.gov/news-issuances/news-releases/2020/nr-ia-2020-59.html May 5, 2020 - Federal Reserve Board issues enforcement action with former employee of Whitaker Bank, Inc. and announces termination of enforcement actions with Crown Bankshares, Inc. and First Bankshares, Inc. www.federalreserve.gov/newsevents/pressreleases/enforcement20200505a.htm May 4, 2020 - How Much Did the Minimum Wage Drive Real Wage Growth During the Late 2010s? - By Daniel Aaronson , Luojia Hu , Aastha Rajan - For much of the recent expansion, real wage growth was surprisingly sluggish, by some measures never reaching its pace prior to the 2008 financial crisis, despite tight labor markets that drove the unemployment rate to 3.5%. www.chicagofed.org/publications/chicago-fed-letter/2020/435 May 4, 2020 - What Can Revisions to the NFCI Tell Us About Stock Market Volatility? By Scott A. Brave, Ross Cole, Michael Fogarty - In this blog post, we document that recent revisions to the Chicago Fed�s National Financial Conditions Index have been large and clustered in time - a pattern not seen since the 2007-09 global financial crisis. www.chicagofed.org/publications/blogs/chicago-fed-insights/2020/nfci-revisions May 4, 2020 - Housing Markets in a Time of Crisis: A Historical Perspective By Price Fishback , Jonathan Rose , Ken Snowden - As the coronavirus public health crisis unfolds, a second crisis in the economy is developing as well. One economic concern, among many, is the debt burden of households. www.chicagofed.org/publications/chicago-fed-letter/2020/433 May 4, 2020 - Brave-Butters-Kelley Indexes - The Brave-Butters-Kelley Indexes are a research project of the Federal Reserve Bank of Chicago. The BBK Coincident and Leading Indexes and Monthly GDP Growth for the U.S. are constructed from a collapsed dynamic factor analysis of a panel of 500 monthly measures of real economic activity and quarterly real GDP growth. www.chicagofed.org/publications/bbki/index May 4, 2020 - Kansas City Fed appoints new executive vice president - Federal Reserve Bank of Kansas City President and Chief Executive Officer Esther George announced that Joe Gruber will join the Bank as executive vice president and director of research. Gruber will join the Bank�s Management Committee and serve as the Bank�s chief economist and policy advisor to George. www.kansascityfed.org/newsroom/newsreleases/2020/kansas-city-fed-appoints-new-executive-vice-president May 4, 2020 - New Federal Reserve Report Shows COVID-19�s Impact on Communities - A new report from the Federal Reserve System summarizes the scope and scale of challenges that U.S. communities are facing from COVID-19. www.stlouisfed.org/news-releases/2020/05/04/new-report-shows-covid19-impact-on-communities May 4, 2020 - 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 2020. www.fdic.gov/news/news/press/2020/pr20055.html May 4, 2020 - An Aggregate View of Bank Lending Standards and Demand - David Glancy, Robert Kurtzman, and Rebecca Zarutskie - The Senior Loan Officer Opinion Survey on Bank Lending Practices provides information about the supply of, and demand for, bank credit in the United States on a quarterly basis.2 SLOOS responses are used internally by Federal Reserve staff in monitoring bank lending conditions and as an input into research and analysis about broader economic and financial conditions. www.federalreserve.gov/econres/notes/feds-notes/an-aggregate-view-of-bank-lending-standards-and-demand-20200504.htm May 4, 2020 - Senior Loan Officer Opinion Survey on Bank Lending Practices, April 2020 - The April 2020 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 2020. www.federalreserve.gov/data/sloos/sloos-202004.htm May 4, 2020 - 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 4, 2020. Matter(s) considered: Federal Reserve Supervision and Regulation Report (May 2020). www.federalreserve.gov/aboutthefed/boardmeetings/20200504closed.htm May 1, 2020 - Gauging Expectations About the Policy Rate Path - By Stefania D�Amico , Vamsi Kurakula , Santiago I. Sordo Palacios - We offer a method to derive a risk-premium adjustment to the risk-neutral policy rate path implied by raw financial quotes. www.chicagofed.org/publications/chicago-fed-letter/2020/432 May 1, 2020 - How Much Did the Minimum Wage Drive Real Wage Growth During the Late 2010s? By Daniel Aaronson , Luojia Hu , Aastha Rajan - For much of the recent expansion, real wage growth was surprisingly sluggish, by some measures never reaching its pace prior to the 2008 financial crisis, despite tight labor markets that drove the unemployment rate to 3.5%. www.chicagofed.org/publications/chicago-fed-letter/2020/435 May 1, 2020 - Market Risk : Joint Response About the Effect of Recent Financial Market Volatility on the Market Risk Capital Rule - The Office of the Comptroller of the Currency and the Board of Governors of the Federal Reserve System today issued a response to a public question about a capital implication under the market risk capital rule in light of current market conditions. www.occ.gov/news-issuances/bulletins/2020/bulletin-2020-47.html May 1, 2020 - OCC Releases CRA Evaluations for 20 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, 2020 through April 30, 2020. www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-58.html May 1, 2020 - Membership Announcement for the Federal Reserve Bank of San Francisco�s Seattle Branch Board of Directors - The Federal Reserve Bank of San Francisco has appointed Carol Gore, president and chief executive officer of Cook Inlet Housing Authority in Anchorage, Alaska, to its Seattle branch board of directors. www.frbsf.org/our-district/press/news-releases/2020/membership-announcement-for-the-federal-reserve-bank-of-san-franciscos-seattle-branch-board-of-directors/ May 1, 2020 - The Federal Financial Institutions Examination Council today announced the re-election of Greg Gonzales by the State Liaison Committee as SLC Chairman. www.ffiec.gov/press/pr050120.htm May 1, 2020 - Statistical Release - Foreign Exchange Rates - G.5 - The table below shows the average rates of exchange in APRIL 2020 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, 2020 - 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/ May 1, 2020 - Chair Powell's calendar, March 2020. www.federalreserve.gov/foia/chairman-powell-calendar.htm May 1, 2020 - Branching Networks and Geographic Contagion of Commodity Price Shocks - Teng Wang - This paper studies the role of banks' branching networks in propagating the oil shocks. www.federalreserve.gov/econres/feds/branching-networks-and-geographic-contagion-of-commodity-price-shocks.htm May 1, 2020 - How Much Does Home Equity Extraction Matter for Spending? - Aditya Aladangady and Kelsey O'Flaherty - In this note, we investigate recent trends in home equity extraction and how these trends may have impacted household spending and residential improvements. www.federalreserve.gov/econres/notes/feds-notes/how-much-does-home-equity-extraction-matter-for-spending-20200501.htm May 1, 2020 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm May 1, 2020 - Quarterly Report on Federal Reserve Balance Sheet Developments - The Federal Reserve prepares this quarterly report as part of its efforts to enhance transparency about its balance sheet, financial information, and monetary policy tools, and to ensure appropriate accountability to the Congress and the public. www.federalreserve.gov/monetarypolicy/quarterly-balance-sheet-developments-report.htm May 1, 2020 - Community Depository Institutions Advisory Council - April 2, 2020 - 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 1, 2020 - Federal Reserve Board finalizes rule to extend by 18 months the initial compliance dates for certain parts of its single-counterparty credit limit rule - The extension, which is unchanged from the proposal, applies to the combined U.S. operations of foreign banks and provides additional time for foreign jurisdictions' implementation of the standard to become effective. www.federalreserve.gov/newsevents/pressreleases/bcreg20200501a.htm |
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