The E-mail Banking News
(Bank Regulatory News)
November 2013

November 29, 2013 - OCC Issues First Quarter CRA Exam Schedule - The Office of the Comptroller of the Currency today released its schedule of Community Reinvestment Act examinations to be conducted in the first quarter of 2014. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-183.html

November 29, 2013 - FDIC Makes Public October Enforcement Actions; - No Administrative Hearings Scheduled for December 2013 - The Federal Deposit Insurance Corporation today released a list of orders of administrative enforcement actions taken against banks and individuals in October. No administrative hearings are scheduled for December 2013. www.fdic.gov/news/news/press/2013/pr13108.html

November 29, 2013 - FDIC Issues First Quarter 2014 CRA Examination Schedule - The Federal Deposit Insurance Corporation has issued the public list of institutions that it has scheduled for a Community Reinvestment Act examination during the first quarter of 2014.  www.fdic.gov/news/news/press/2013/pr13107.html
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November 29, 2013 - FDIC Makes Public October Enforcement Actions; No Administrative Hearings Scheduled for December 2013 - The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks. http://www.fdic.gov/news/news/press/2013/pr13108.html

November 27, 2013 - Economic Growth Slower in October - The Chicago Fed National Activity Index was –0.18 in October, down from +0.18 in September. http://chicagofed.org/digital_assets/publications/cfnai/2013/cfnai_november2013.pdf

November 27, 2013 - NCUA Issues Prohibition Orders - The National Credit Union Administration has issued three orders in November prohibiting the following individuals from participating in the affairs of any federally insured financial institution: www.ncua.gov/News/Pages/NW20131127ProhibitionOrders.aspx

November 27, 2013 - Financial market stress reaches its lowest level in six months - For the week ending Nov. 22, 2013, the St. Louis Fed Financial Stress Index measured -0.846, its lowest level since the week ending May 24, 2013. Last week’s decline was the sixth in the past seven weeks. The STLFSI has been below zero for 75 consecutive weeks. www.stlouisfed.org/newsroom/displayNews.cfm?article=2006

November 27, 2013 - Federal Reserve requests comment on proposed changes to Policy on Payment System Risk - The Federal Reserve Board on Wednesday requested public comment on proposed changes to part II of the Federal Reserve Policy on Payment System Risk that are designed to enhance the efficiency of the payment system.  www.federalreserve.gov/newsevents/press/other/20131127a.htm

November 26, 2013 - FDIC-Insured Institutions Earned $36 Billion in the Third Quarter of 2013 - Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation reported aggregate net income of $36.0 billion in the third quarter of 2013, a $1.5 billion (3.9 percent) decline from the $37.5 billion in profits that the industry reported a year earlier. www.fdic.gov/news/news/press/2013/pr13106.html

November 26, 2013 - Supervision Manual - Commercial Bank Examination Manual, October 2013.  www.federalreserve.gov/boarddocs/supmanual/default.htm

November 26, 2013 - Minutes of the Board's discount rates meetings from October 7 through October 28, 2013.   www.federalreserve.gov/newsevents/press/monetary/monetary20131126a1.pdf

November 26, 2013 - Statistical Release - Finance Companies - G.20.  www.federalreserve.gov/releases/g20/current/

November 22, 2013 - Chicago Fed Hosts Tri-State Summit on Regional Economic Competiveness - In a blog posting, the Chicago Fed’s Community Development and Policy Studies highlights a September 27, 2013 summit that brought together community development practitioners, academics, and policymakers to discuss the region's key economic drivers. http://cdps.chicagofedblogs.org/?p=1183

November 22, 2013 - Ohio’s Polish Combatants Credit Union Closes - The Ohio Division of Financial Institutions has liquidated the Polish Combatants Credit Union of Bedford, Ohio, and appointed the National Credit Union Administration as liquidating agent. www.ncua.gov/News/Pages/NW20131122PolishCombatants.aspx

November 22, 2013 - Net Assessment Range for Failed Corporates Drops $2.3 Billion at Upper End - The upper end of the net remaining assessments associated with the Temporary Corporate Credit Union Stabilization Fund declined $2.3 billion between December 2012 and July 2013, the National Credit Union Administration announced today. www.ncua.gov/News/Pages/NW20131122NetAssessment.aspx

November 22, 2013 - New NCUA Video Highlights Consumer Protections for Servicemembers and Vets - Federal law gives servicemembers and veterans specific consumer protections, and a new National Credit Union Administration video, the latest installment in NCUA’s Consumer Protection Update series, explains those protections and the national outreach campaigns NCUA encourages credit unions to join. www.ncua.gov/News/Pages/NW20131122ConsumerVideo.aspx

November 22, 2013 - NCUA Hosting Succession Planning Webinar - The National Credit Union Administration will host a free webinar on succession planning on Tuesday, Dec. 17, 2013, at 2 p.m. Eastern. www.ncua.gov/News/Pages/NW20131122Webinar.aspx 

November 22, 2013 - Community Depository Institutions Advisory Council - Records of Meetings -- April 5, 2013 and November 8, 2013.   www.federalreserve.gov/aboutthefed/cdiac.htm#agendas

November 22, 2013 - Credit and Liquidity Programs and the Balance Sheet - Federal Reserve Banks Combined Quarterly Financial Reports, September 30, 2013 - The quarterly financial reports present summary financial information on the combined financial position and results of operations of the Reserve Banks.  www.federalreserve.gov/monetarypolicy/files/quarterly-report-20130930.pdf

November 22, 2013 - Credit and Liquidity Programs and the Balance Sheet - Quarterly Report on Federal Reserve Balance Sheet Developments, November 2013 - 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/files/quarterly_balance_sheet_developments_report_201311.pdf

November 22, 2013 - Report to the Congress - Periodic Report Pursuant to Section 129 of the Emergency Economic Stabilization Act of 2008 - The Federal Reserve files these reports with Congress pursuant to section 129(b) of the Emergency Economic Stabilization Act of 2008.  www.federalreserve.gov/monetarypolicy/files/129periodicupdate20131122.pdf

November 22, 2013 - Governor Daniel K. Tarullo - Shadow Banking and Systemic Risk Regulation - At the Americans for Financial Reform and Economic Policy Institute Conference, Washington, D.C. www.federalreserve.gov/newsevents/speech/tarullo20131122a.htm

November 22, 2013 - Federal Reserve Board announces approval of application by Green Dot Bank DBA Bonneville Bank - The Federal Reserve Board on Friday announced its approval of an application under section 18(c) of the Federal Deposit Insurance Act by Green Dot Bank DBA Bonneville Bank, Provo, Utah, to purchase certain assets and assume certain deposit liabilities of GE Capital Retail Bank, Draper, Utah. www.federalreserve.gov/newsevents/press/orders/orders20131122a1.pdf
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November 21, 2013 - Office of the Comptroller of the Currency Releases Final Guidance Regarding Deposit Advance Products - The Office of the Comptroller of the Currency today published final supervisory guidance for national banks and federal savings associations addressing risks and agency expectations associated with deposit advance products. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-182.html

November 21, 2013 - Financial market stress decreases for fifth week out of past six - Financial market stress edged lower over the past week, more than reversing the previous week’s slight increase. For the week ending Nov. 15, 2013, the St. Louis Fed Financial Stress Index measured -0.820, its lowest level since the week ending May 24, 2013. www.stlouisfed.org/newsroom/displayNews.cfm?article=2000

November 21, 2013 - St. Louis Fed’s Bullard Offers Perspectives on the Macroeconomic Situation during 2008 - Federal Reserve Bank of St. Louis President James Bullard discussed “The Notorious Summer of 2008” on Thursday at an event hosted by the University of Arkansas’ Center for Business and Economic Research.  www.stlouisfed.org/newsroom/displayNews.cfm?article=2001 

November 21, 2013 - FDIC Issues Final Guidance Regarding Deposit Advance Products - The Federal Deposit Insurance Corporation today issued final supervisory guidance to FDIC-supervised financial institutions that offer or may consider offering deposit advance products.   www.fdic.gov/news/news/press/2013/pr13105.html

November 21, 2013 - Surprise and Uncertainty Indexes: Real-Time Aggregation of Real-Activity Macro Surprises - Chiara Scotti - I construct two real-time, real activity indexes: (i) a surprise index that summarizes recent economic data surprises and measures optimism/pessimism about the state of the economy, and (ii) an uncertainty index that measures uncertainty related to the state of the economy. www.federalreserve.gov/pubs/ifdp/2013/1093/ifdp1093.pdf

November 21, 2013 - Can Structural Reforms Help Europe? - Gauti Eggertsson, Andrea Ferrero, and Andrea Raffo - Structural reforms that increase competition in product and labor markets are often indicated as the main policy option available for peripheral Europe to regain competitiveness and boost output. www.federalreserve.gov/pubs/ifdp/2013/1092/ifdp1092.pdf

November 21, 2013 - Portfolio Diversification and the Cross-Sectional Distribution of Foreign Investment - Alexandra Tobova - In this paper I explore the role of portfolio diversification in explaining the distribution of foreign investment across countries.  www.federalreserve.gov/pubs/ifdp/2013/1091/ifdp1091.pdf

November 21, 2013 - Interest Rate Swaps and Corporate Default - Urban J. Jermann and Vivian Z. Yue - 2013-1090 - This paper studies firms' usage of interest rate swaps to manage risk in a model economy driven by aggregate productivity shocks, inflation shocks, and counter-cyclical idiosyncratic productivity risk. Consistent with empirical evidence, firms in the model are fixed-rate payers, and swap positions are negatively correlated with the term spread. www.federalreserve.gov/pubs/ifdp/2013/1090/ifdp1090.pdf

November 21, 2013 - Mortgage Market Conditions and Borrower Outcomes: Evidence from the 2012 HMDA Data and Matched HMDA--Credit Record Data - Neil Bhutta and Glenn B. Canner - This article describes mortgage lending activity in 2012 based on newly available data reported under the Home Mortgage Disclosure Act of 1975. It also examines a new data set composed of HMDA records matched to borrowers’ credit records. www.federalreserve.gov/Pubs/Bulletin/2013/pdf/2012_HMDA.pdf

November 21, 2013 - Governor Jerome H. Powell - OTC Market Infrastructure Reform: Opportunities and Challenges = At the Clearing House 2013 Annual Meeting, New York, New York.  www.federalreserve.gov/newsevents/speech/powell20131121a.htm

November 21, 2013 - Federal Reserve Board issues enforcement actions with Maquoketa State Bank and Midland States Bank.   www.federalreserve.gov/newsevents/press/enforcement/20131121a.htm

November 21, 2013 - NCUA - November 2013 NCUA Board Meeting: NCUA Board Anticipates No Corporate Stabilization Fund Assessment in 2014 -The National Credit Union Administration Board convened its tenth scheduled open meeting of 2013 at the agency’s headquarters here today.  www.ncua.gov/about/Pages/Board%20Actions/BAB20131121.aspx 

November 20, 2013 - Federal Reserve Bulletin - Legal Developments: Third Quarter, 2013.  www.federalreserve.gov/Pubs/Bulletin/2013/pdf/legalq313.pdf

November 20, 2013 - FRED rolls out enhanced graphing functionality and upgraded apps - The St. Louis Fed’s signature online database FRED has just gotten a whole lot better. www.stlouisfed.org/newsroom/displayNews.cfm?article=1998

November 20, 2013 - Regulatory Capital Estimation Tool for Community Banks FIL-54-2013 - The FDIC has made available a regulatory capital estimation tool to help community banks evaluate the potential impact of the recently published interim final capital rule on their capital ratios. www.fdic.gov/news/news/financial/2013/fil13054.html

November 20, 2013 - Agencies announce increases in dollar thresholds in Regulations Z and M for exempt consumer credit and lease transactions - The Federal Reserve Board and the Consumer Financial Protection Bureau today announced they are increasing the dollar thresholds in Regulation Z and Regulation M for exempt consumer credit and lease transactions. www.federalreserve.gov/newsevents/press/bcreg/20131120a.htm

November 20, 2013 - Minutes of the Federal Open Market Committee, October 29-30, 2013 - The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on October 29-30, 2013 and of the conference call held on October 16, 2013. www.federalreserve.gov/newsevents/press/monetary/20131120a.htm

November 20, 2013 - Chairman Ben S. Bernanke - Communication and Monetary Policy - At the National Economists Club Annual Dinner, Herbert Stein Memorial Lecture, Washington, D.C. www.federalreserve.gov/newsevents/speech/bernanke20131119a.htm

November 19, 2013 - Odyssean Forward Guidance in Monetary Policy: A Primer - Economic Perspectives article article shows how central bank forward guidance can improve macroeconomic outcomes by altering current expectations of future inflation and output. www.chicagofed.org/digital_assets/publications/economic_perspectives/2013/4Q2013_part1_campbell.pdf

November 19, 2013 - NCUA to Receive More than $1.4 Billion in JPMorgan Chase Settlement - The National Credit Union Administration today joined the U.S. Department of Justice and other governmental plaintiffs in a $13 billion settlement with JPMorgan Chase and affiliated companies over sales of faulty mortgage-backed securities. www.ncua.gov/News/Pages/NW20131119JPMorganChase.aspx

November 19, 2013 - NCUA Statement on Correcting Federal Register Truth in Savings Act Estimates - Data provided by the National Credit Union Administration in Federal Register notices on Aug. 5 and Sept. 26 estimating credit unions’ continued compliance with the Truth in Savings Act were incorrect. www.ncua.gov/News/Pages/TechnicalCorrection20131119.aspx

November 19, 2013 - FDIC Announces Settlement With JPMorgan Chase & Co. - The Federal Deposit Insurance Corporation as Receiver for six failed banks has announced a $515.4 million settlement with JPMorgan Chase & Co. and its affiliates of the receiverships' federal and state securities law claims based on misrepresentations in the offering documents for 40 residential mortgage-backed securities purchased by the failed banks. www.fdic.gov/news/news/press/2013/pr13103.html

November 19, 2013 - Consumer Compliance and Community Reinvestment Act Examination Frequency Policy.   www.federalreserve.gov/bankinforeg/caletters/Attachment_CA_13-20_Frequency_Guidance.pdf

November 19, 2013 - Community Bank Risk-Focused Consumer Compliance Supervision Program.   www.federalreserve.gov/bankinforeg/caletters/caltr1319.htm

November 19, 2013 - Payment Systems - Quarterly Data Updates: Fedwire Funds Service, Fedwire Securities Service, National Settlement Service.   www.federalreserve.gov/paymentsystems/default.htm

November 19, 2013 - Agencies Release a Regulatory Capital Estimation Tool for Community Banks - The federal bank regulatory agencies today released an estimation tool to help community banks understand the potential effects of the recently revised regulatory capital framework on their capital ratios.
Press Release: www.federalreserve.gov/newsevents/press/bcreg/20131119a.htm
Press Release: www.fdic.gov/news/news/press/2013/pr13102.html
Press Release: www.occ.gov/news-issuances/news-releases/2013/nr-ia-2013-181.html

November 18, 2013 - Midwest Farmland Values Up from Last Year but Little Changed for the Quarter - According to the most recent AgLetter, Seventh District farmland values in the third quarter of 2013 were 14 percent higher than a year ago. However, values for “good” agricultural land in the third quarter of 2013 were only 1 percent higher than in the second quarter. www.chicagofed.org/digital_assets/publications/agletter/2010_2014/november_2013.pdf

November 18, 2013 - The NCUA Report for November 2013 Now Available - The NCUA Report is NCUA’s flagship publication that highlights important NCUA Board actions and key issues that credit union volunteers and management need to know. It is a one-stop resource to learn not just the “what” but also the “why” behind NCUA’s actions. www.ncua.gov/News/NewsLtrs/Pages/default.aspx

November 18, 2013 - New NCUA Video Assists Credit Unions in Liquidity and Contingency Funding Plans - Federally insured credit unions have a new resource to better understand and further assist in complying with the National Credit Union Administration’s final rule on liquidity and contingency funding. www.ncua.gov/News/Pages/NW20131118Liquidity.aspx

November 18, 2013 - OCC Encourages National Banks and Federal Savings Associations to Work With People Affected by Recent Extreme Weather - The Office of the Comptroller of the Currency today encouraged national banks and federal savings associations to work with customers affected by the recent tornadoes in the Midwest United States. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-180.html

November 18, 2013 - OCC Newsletter Focuses on Financing Business Development and Expansion in Rural America - The Office of the Comptroller of the Currency today published the latest edition of its Community Developments Investments electronic newsletter entitled "Financing Business Development and Expansion in Rural America." www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-179.html

November 18, 2013 - Repo Collateral Fire Sales: The Effects of Exemption from Automatic Stay - Sebastian Infante - What are the consequences of a potential fire sale stemming from the exemption of repurchase agreements from automatic stay? This paper shows that repo's exemption from stay alters firms' financing and investment decisions ex ante. www.federalreserve.gov/pubs/feds/2013/201383/201383pap.pdf

November 18, 2013 - Cost Shifting and the Freezing of Corporate Pension Plans - Joshua Rauh, Irina Stefanescu, and Stephen Zeldes - Many U.S. corporations have frozen defined benefit pension plans, replacing new DB promises with contributions to defined contribution plans. We estimate expected DB accruals from the age-service and salary distributions of a large sample of U.S. corporate pension plans with more than 1,000 employees. www.federalreserve.gov/pubs/feds/2013/201382/201382abs.html

November 18, 2013 - Payday Loans and Consumer Financial Health - Neil Bhutta - The annualized interest rate for a payday loan often exceeds 10 times that of a typical credit card, yet this market grew immensely in the 1990s and 2000s, elevating concerns about the risk payday loans pose to consumers and whether payday lenders target minority neighborhoods. www.federalreserve.gov/pubs/feds/2013/201381/201381pap.pdf

November 18, 2013 - Sticky Deposit Rates - John C. Driscoll and Ruth A. Judson - We examine the dynamics of eleven different deposit rates for a panel of over 2,500 branches of about 900 depository institutions observed weekly over ten years. We replicate previous work showing that rates are downwards-flexible and upwards-sticky, and show that a simple menu cost model can generate this behavior. www.federalreserve.gov/pubs/feds/2013/201380/201380pap.pdf

November 18, 2013 - Are Homeowners in Denial about their House Values? Comparing Owner Perceptions with Transaction-Based Indexes -
Alice M. Henriques - The boom and bust of the housing market has been a prominent feature of the household financial landscape in recent years.  www.federalreserve.gov/pubs/feds/2013/201379/201379pap.pdf

November 18, 2013 - Equity Market Misvaluation, Financing, and Investment - Missaka Warusawitharana and Toni M. Whited - We quantify how much nonfundamental movements in stock prices affect firm decisions. We estimate a dynamic investment model in which firms can finance with equity or cash (net of debt). www.federalreserve.gov/pubs/feds/2013/201378/201378pap.pdf

November 18, 2013 - Reserve Maintenance Manual - The Reserve Maintenance Manual provides information regarding reserve calculations and account maintenance for depository institutions that file the Federal Reserve 2900 form.  www.federalreserve.gov/monetarypolicy/rmm/reserve-maintenance-manual.pdf

November 18, 2013 - The Federal Reserve Board on Monday announced its approval of the application by Banco BPI, S.A., Porto, Portugal, to establish representative offices in Newark, New Jersey, and New Bedford, Massachusetts. www.federalreserve.gov/newsevents/press/orders/orders20131118a1.pdf

November 17, 2013 - Comptroller of the Currency Discusses Bank Secrecy Act - Comptroller of the Currency Thomas J. Curry told a conference on money laundering enforcement that the Bank Secrecy Act is a key element in the fight against illegal drugs and terrorism, and said meeting the challenges of the future will require increased diligence on the part of the industry and government alike. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-178.html

November 15, 2013 - NCUA - Fryzel Discusses “Right Sizing” Risk-Based Capital Rules at AACUL Winter Meeting - National Credit Union Administration Board Member Michael E. Fryzel today discussed a changing regulatory landscape and called for “right sizing” the agency’s rules on risk-based capital. www.ncua.gov/News/Pages/NW20131115FryzelAACUL.aspx

November 15, 2013 - OCC Enforcement Actions - 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/2013/nr-occ-2013-177.html

November 15, 2013 - St. Louis Fed Ag Survey Shows Farmland Values Downs, Incomes Up For Third Quarter 2013 - Farmland values and cash rents were down in the third quarter of 2013 (relative to the previous quarter), according to the latest Agricultural Finance Monitor, published by the Federal Reserve Bank of St. Louis. Despite these declines, farm income rose modestly across the District served by the Bank. www.stlouisfed.org/newsroom/displayNews.cfm?article=1995

November 15, 2013 - Final Revisions to Interagency Questions and Answers Regarding Community Reinvestment.   www.federalreserve.gov/bankinforeg/caletters/caltr1318.htm

November 15, 2013 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

November 15, 2013 - Statistical Release - Industrial Production and Capacity Utilization - G.17 - Industrial production edged down 0.1 percent in October after having increased 0.7 percent in September.  www.federalreserve.gov/releases/g17/Current/default.htm

November 15, 2013 - Statistical Release - Charge-Off and Delinquency Rates on Loans and Leases at Commercial Banks.  
www.federalreserve.gov/releases/chargeoff/

November 15, 2013 - Federal Reserve Board announces it has not objected to a re-submitted capital plan from Ally Financial Inc. - The Federal Reserve on Friday announced that it has not objected to a re-submitted capital plan from Ally Financial Inc. www.federalreserve.gov/newsevents/press/bcreg/20131115b.htm

November 15, 2013 - Agencies release final revisions to interagency questions and answers regarding community reinvestment - The federal bank regulatory agencies with responsibility for Community Reinvestment Act rulemaking today published final revisions to "Interagency Questions and Answers Regarding Community Reinvestment."
Press Release: www.federalreserve.gov/newsevents/press/bcreg/20131115a.htm
Press Release: www.fdic.gov/news/news/press/2013/pr13101.html
Press Release: www.occ.gov/news-issuances/news-releases/2013/nr-ia-2013-176.html
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November 15, 2013 - OCC Enforcement Actions - The Office of the Comptroller of the Currency (OCC) today released new enforcement actions taken against national banks, federal savings associations, and individuals currently and formerly affiliated with national banks and federal savings associations. http://www.occ.treas.gov/news-issuances/news-releases/2013/nr-occ-2013-177.html

November 14, 2013 - Midwest Farmland Values Up from Last Year but Little Changed for the Quarter - Latest AgLetter reports farmland values in the third quarter of 2013 were 14 percent higher than a year ago, but they were only 1 percent higher than in the second quarter of 2013.
www.chicagofed.org/digital_assets/publications/agletter/2010_2014/november_2013.pdf

November 14, 2013 - Clarifying Liability for Twenty-First-Century Payment Fraud - Economic Perspectives article discusses the liability frameworks for fraud involving specific payment methods and makes recommendations for clarifying fraud liability. http://chicagofed.org/digital_assets/publications/economic_perspectives/2013/3Q2013_part2_dhameja_jacob_porter.pdf

November 14, 2013 - NCUA - Agenda for the 11/21/2013 NCUA Board Meeting is Available.  www.ncua.gov/about/Pages/Agendas/AG20131121.aspx

November 14, 2013 - Financial market stress increases from previous week - Financial market stress was little changed from the previous week and remained below its historical average for the 73rd consecutive week. For the week ending Nov. 8, 2013, the St. Louis Fed Financial Stress Index measured -0.777. www.stlouisfed.org/newsroom/displayNews.cfm?article=1987

November 14, 2013 - *Media Advisory* St. Louis Fed President James Bullard Will Speak at Quarterly Business Analysis Luncheon.   www.stlouisfed.org/newsroom/displayNews.cfm?article=1994

November 14, 2013 - Speech by Chairman Ben S. Bernanke - 40th Anniversary of the Annual Conference of the Union of Arab Banks.   www.federalreserve.gov/newsevents/speech/bernanke20131114a.htm

November 14, 2013 - Federal Reserve Board issues enforcement action with North Milwaukee Bancshares, Inc. www.federalreserve.gov/newsevents/press/enforcement/20131114a.htm

November 13, 2013 - NCUA Wins Award for Feds Feed Families Donation - The U.S. Department of Agriculture today recognized the National Credit Union Administration’s highly successful federal food drive effort, which resulted in a donation of more than 22,000 pounds of food to the Capital Area Food Bank. www.ncua.gov/News/Pages/NW20131113Award.aspx

November 13, 2013 - Comptroller of the Currency Discusses Community Development and Investment - Comptroller of the Currency Thomas J. Curry discussed the importance of community development and investment at the 2013 National Community Investment Fund Conference. www.occ.gov/news-issuances/speeches/2013/pub-speech-2013-175.pdf

November 13, 2013 - Live Webcast: Nov. 18 Student Loan Forum at the St. Louis Fed - Those who cannot attend the Nov. 18 event, “Generation Debt: The Promise, Perils and Future of Student Loans” at the Federal Reserve Bank of St. Louis will be able to watch part of the event via webcast. www.stlouisfed.org/newsroom/displayNews.cfm?article=1988
 
November 13, 2013 - Testimony by Vice Chair Janet L. Yellen - Confirmation hearing Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate, Washington, D.C. http://www.federalreserve.gov/newsevents/testimony/yellen20131114a.htm

November 13, 2013 - Federal Reserve offers 28-day term deposits with full allotment at 26 basis points through its Term Deposit Facility.   www.federalreserve.gov/newsevents/press/monetary/20131113a.htm

November 12, 2013 - Office of the Comptroller of the Currency Publishes Standards on the Use of an Independent Consultant - The Office of the Comptroller of the Currency today published standards governing the use of independent consultants in enforcement actions involving significant violations of law, fraud, or harm to consumers. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-174.html

November 12, 2013 - FDIC Releases Economic Scenarios for 2014 Stress Testing - The Federal Deposit Insurance Corporation today released the economic scenarios that will be used by certain financial institutions with total consolidated assets of more than $10 billion for stress tests required under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. www.fdic.gov/news/news/press/2013/pr13100.html

November 8, 2013 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

November 8, 2013 - Chairman Ben S. Bernanke - The Crisis as a Classic Financial Panic - At the Fourteenth Jacques Polak Annual Research Conference, Washington, D.C. www.federalreserve.gov/newsevents/speech/bernanke20131108a.htm
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November 7, 2013 - Clarifying Liability for Twenty-First-Century Payment Fraud - Economic Perspectives article discusses the liability frameworks for fraud involving specific payment methods and makes recommendations for clarifying fraud liability. http://chicagofed.org/digital_assets/publications/economic_perspectives/2013/3Q2013_part2_dhameja_jacob_porter.pdf 

November 7, 2013 - NCUA Hosting Webinars on Dodd-Frank Remittances and Mortgage Lending Rules - The National Credit Union Administration will host a free, two-part webinar, “New Dodd-Frank Remittances and Mortgage Lending Rules,” on Monday, Nov. 18, 2013, and Wednesday, Dec. 18, 2013. Each part begins at 2 p.m. Eastern. www.ncua.gov/News/Pages/NW20131107Webinars.aspx

November 7, 2013 - OCC Names David Nebhut Senior Deputy Comptroller for Economics - The Office of the Comptroller of the Currency today announced the selection of David Nebhut to be the agency’s Senior Deputy Comptroller for Economics. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-173.html

November 7, 2013 - Financial market stress decreases for the fourth week in a row - Financial market stress declined for the fourth week in a row, according to the St. Louis Fed Financial Stress Index.  www.stlouisfed.org/newsroom/displayNews.cfm?article=1981

November 7, 2013 - St. Louis-Area Teachers Receive a History Lesson from Chairman Bernanke - About 75 local educators will hear a teleconference presentation next week by Federal Reserve Chairman Ben Bernanke. As the Chairman’s term ends in January, this will be one of his last public appearances in that role. www.stlouisfed.org/newsroom/displayNews.cfm?article=1982

November 7, 2013 - Financial Regulators Release Statement on End of Microsoft Support for Windows XP Operating System - The Federal Financial Institutions Examination Council today issued a joint statement concerning Microsoft’s discontinuation of support for its Windows XP operating system as of April 8, 2014. www.ffiec.gov/press/pr100713.htm

November 7, 2013 - The Federal Financial Institutions Examination Council today issued a Press Release concerning Microsoft’s discontinuation of support for its Windows XP operating system as of April 8, 2014. www.ffiec.gov/press/pr100713.htm 

November 7, 2013 - $1 Coin Quarterly Inventories, Payments, and Receipts.   www.federalreserve.gov/paymentsystems/coin_data.htm#dollarcoin

November 7, 2013 - Quarterly Data Updates: Commerical Checks, Government Checks, Postal Money Orders, and Automated Clearinghouse.  www.federalreserve.gov/paymentsystems/default.htm

November 7, 2013- Governor Jeremy C. Stein - The Fire-Sales Problem and Securities Financing Transactions - At the Federal Reserve Bank of Chicago and International Monetary Fund Conference, Chicago, Illinois.   www.federalreserve.gov/newsevents/speech/stein20131107a.htm

November 7, 2013 - Federal Reserve Board issues final policy statement for developing scenarios for future capital planning and stress testing exercises.  www.federalreserve.gov/newsevents/press/bcreg/20131107a.htm

November 7, 2013 - Federal Reserve Board announces termination of enforcement actions with FNB United Corp., Highland Bancshares, National Consumer Cooperative Bank, and NCB Financial Corporation.   www.federalreserve.gov/newsevents/press/enforcement/20131107a.htm

November 6, 2013- What Is Bitcoin and How Does It Work? - Chicago Fed Letter reviews the mechanics of the digital currency and offers some thoughts on its characteristics. www.chicagofed.org/digital_assets/publications/chicago_fed_letter/2013/cfldecember2013_317.pdf

November 6, 2013 - Mark A. Gould Appointed First Vice President and COO of the Federal Reserve Bank of San Francisco - Mark A. Gould has been appointed first vice president and chief operating officer of the Federal Reserve Bank of San Francisco, the bank announced today.   www.frbsf.org/our-district/press/news-releases/2013/mark-a-gould-appointed-first-vice-president-coo-federal-reserve-bank-san-francisco/

November 6, 2013- Regulatory Reform - Communications with the public through November 6, 2013.   www.federalreserve.gov/newsevents/reform_meetings.htm

November 5, 2013 - Aggregate Supply in the United States: Recent Developments and Implications for the Conduct of Monetary Policy - Dave Reifschneider, William Wascher, and David Wilcox - The recent financial crisis and ensuing recession appear to have put the productive capacity of the economy on a lower and shallower trajectory than the one that seemed to be in place prior to 2007.  www.federalreserve.gov/pubs/feds/2013/201377/201377pap.pdf

November 5, 2013 - Nominations for NCUA Consulting Now Open - To obtain free consulting services in the first half of 2014, small and low-income designated credit unions may now submit their nominations to the National Credit Union Administration. www.ncua.gov/News/Pages/NW20131105Nominations.aspx

November 5, 2013- NCUA Debuts Consumer Protection Update Video Series and Webpages - Credit union officials now have new resources to better understand and follow new consumer protection rules on mortgage lending and remittance transfers. www.ncua.gov/News/Pages/NW20131105ConsumerProtection.aspx

November 5, 2013 - Office of the Comptroller of the Currency Hosts Workshops in Phoenix - The Office of the Comptroller of the Currency will host two workshops in Phoenix, Ariz., at the Hyatt Regency Phoenix, Dec. 3-4, for directors of national community banks and federal savings associations. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-172.html

November 5, 2013- Federal Deposit Insurance Corporation, Bank of England, German Federal Financial Supervisory Authority and Swiss Financial Market Supervisory Authority Call for Uniform Derivatives Contracts Language.   www.fdic.gov/news/news/press/2013/pr13099.html

November 5, 2013 - The Federal Reserve's Framework for Monetary Policy--Recent Changes and New Questions - William B. English, J. David Lopez-Salido, and Robert J. Tetlow - In recent years, the Federal Reserve has made substantial changes to its framework for monetary policymaking by providing greater clarity regarding its objectives, its intentions regarding the use of monetary policy.   www.federalreserve.gov/pubs/feds/2013/201376/201376pap.pdf

November 5, 2013 - Who Works for Startups? The Relation between Firm Age, Employee Age, and Growth - Paige Ouimet and Rebecca Zarutskie - Young firms disproportionately employ young workers, controlling for firm size, industry, geography and time.   www.federalreserve.gov/pubs/feds/2013/201375/201375pap.pdf 

November 5, 2013- Federal Reserve Board announces annual indexing of reserve requirement exemption amount and of low reserve tranche for 2014 - The Federal Reserve Board on Tuesday announced the annual indexing of the amounts used in determining reserve requirements of depository institutions and deposit reporting panels effective in 2014. www.federalreserve.gov/newsevents/press/bcreg/20131105a.htm

November 4, 2013 - Speech by Governor Jerome H. Powell - Advanced Economy Monetary Policy and Emerging Market Economies.   www.federalreserve.gov/newsevents/speech/powell20131104a.htm

November 4, 2013 - Senior Loan Officer Opinion Survey on Bank Lending Practices - Survey of up to eighty large domestic banks and twenty-four U.S. branches and agencies of foreign banks. www.federalreserve.gov/boarddocs/SnLoanSurvey/

November 4, 2013- Proposal for Comment - Proposal to approve under OMB delegated authority the extension for the years, with revision, of the following report: Domestic Finance Company Report of Consolidated Assets and Liabilities.   www.federalreserve.gov/apps/foia/proposedregs.aspx#icp

November 4, 2013 - FDIC Issues List of Banks Examined for CRA Compliance- The Federal Deposit Insurance Corporation today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act.   www.fdic.gov/news/news/press/2013/pr13098.html

November 5, 2013 - NCUA Places Mayfair Federal Credit Union into Conservatorship - The National Credit Union Administration today assumed control of service and operations at Mayfair Federal Credit Union in Philadelphia. www.ncua.gov/News/Pages/NW20131101Mayfair.aspx

November 1, 2013 - NCUA - Radway Selected as Senior Policy Advisor to Board Member Metsger - National Credit Union Administration Board Member Rick Metsger has chosen Michael Radway as his Senior Policy Advisor. www.ncua.gov/News/Pages/NW20131101Radway.aspx

November 1, 2013 - OCC Releases Dodd-Frank Stress Testing Scenarios for 2014 and the Final Policy Statement for Developing the Annual Stress Test Scenarios - The Office of the Comptroller of the Currency released the economic and financial market scenarios that will be used in the next round of stress tests for large financial institutions. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-171.html 

November 1, 2013 - OCC Newsletter Focuses on Public Welfare Investments in Wind Energy Projects - The Office of the Comptroller of the Currency today published an online newsletter that provides information showing how national banks and federal savings associations can use public welfare investment authority to invest in wind energy projects. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-170.html

November 1, 2013- James A. Hughes Appointed to the Los Angeles Branch Board of the Federal Reserve Bank of San Francisco - Los Angeles, CA – The Federal Reserve Bank of San Francisco has appointed James A. Hughes, CEO, First Solar, Tempe, AZ, to its Los Angeles Branch Board of Directors, effective September 27, 2013. www.frbsf.org/our-district/press/news-releases/2013/hughes-appointment-los-angeles-branch-board-directors/

November 1, 2013 - St. Louis Fed’s Bullard Discusses Data Dependency of Tapering and Current Policy Tools - Federal Reserve Bank of St. Louis President James Bullard discussed “The Tapering Debate: Data and Tools,” at the Financial Forum hosted by the St. Louis Regional Chamber on Friday. www.stlouisfed.org/newsroom/displayNews.cfm?article=1973

November 1, 2013 - FDIC Announces Upcoming Community Affairs Webinar: Lending in Native Communities: From Opportunity to Success - The FDIC's Division of Depositor and Consumer Protection Community Affairs Branch will host a webinar titled Lending in Native Communities: From Opportunity to Success on November 22, 2013, from 3:00 p.m. to 4:00 p.m. (EST). www.fdic.gov/news/news/financial/2013/fil13053.html

November 1, 2013- Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

November 1, 2013 - Volatility, Labor Heterogeneity and Asset Prices - Marcelo Ochoa - This paper shows that a firm's reliance on skilled labor is an underlying determinant of its exposure to aggregate volatility risk. I present a model in which firms make hiring and firing decisions in an environment of time-varying aggregate volatility, and face linear adjustment costs that increase with the skill of a worker. www.federalreserve.gov/pubs/feds/2013/201371/201371pap.pdf

November 1, 2013 - Yield Curve Impacts of Forward Guidance and Maturity Extension Programs - Jeff W. Huther and Jason S. Seligman - In 2011 and 2012, the Federal Reserve sold Treasury securities from the short end of the yield curve at the same time it was providing market participants with date-specific assurances that overnight interest rates would not rise. www.federalreserve.gov/pubs/feds/2013/201372/201372pap.pdf

November 1, 2013- Sectoral Allocation, Risk Efficiency and the Great Moderation - Manjola Tase - This paper argues that the decline in U.S. real GDP growth volatility after the mid 1980s was an outcome of more risk efficient and more diversified sectoral allocations. www.federalreserve.gov/pubs/feds/2013/201373/201373pap.pdf

November 1, 2013 - Trend Inflation in Advanced Economies - Christine Garnier, Elmar Mertens, and Edward Nelson - We derive estimates of trend inflation for fourteen advanced economies from a framework in which trend shocks exhibit stochastic volatility. www.federalreserve.gov/pubs/feds/2013/201374/201374pap.pdf

November 1, 2013 - Changes in Bank Lending Standards and the Macroeconomy - William F. Bassett, Mary Beth Chosak, John C. Driscoll, and Egon Zakrajsek - Identifying macroeconomic effects of credit shocks is difficult because many of the same factors that influence the supply of loans also affect the demand for credit. www.federalreserve.gov/pubs/feds/2012/201224/201224pap.pdf

November 1, 2013- Federal Reserve Board releases supervisory scenarios and instructions for 2014 capital planning and stress testing - The Federal Reserve Board on Friday issued the supervisory scenarios that will be used in the 2014 capital planning and stress testing program, as well as instructions to firms with timelines for submissions. www.federalreserve.gov/newsevents/press/bcreg/20131101a.htm