The E-mail Banking News
(Bank Regulatory News)
November 2015

November 30, 2015 - NCUA Issues Prohibition Orders - The National Credit Union Administration has issued six orders in November prohibiting the following individuals from participating in the affairs of any federally insured financial institution.   www.ncua.gov/newsroom/Pages/news-2015-nov-prohibition-orders.aspx

November 30, 2015 - NCUA Debuts New Consumer Share Insurance Videos - Credit union members will have an easier time understanding how their accounts at federally insured credit unions are protected as a result of three new videos released today by the National Credit Union Administration. http://www.ncua.gov/newsroom/Pages/news-2015-nov-new-consumer-videos.aspx

November 30, 2015 - OCC Issues First Quarter 2016 CRA Evaluation Schedule - The Office of the Comptroller of the Currency today released its schedule of Community Reinvestment Act evaluations to be conducted in the first quarter of 2016. www.occ.gov/news-issuances/news-releases/2015/nr-occ-2015-153.html

November 30, 2015 - FDIC Issues First Quarter 2016 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 2016.  www.fdic.gov/news/news/press/2015/pr15094.html

November 30, 2015 - Every Little Bit Counts: The Impact of High-speed Internet on the Transition to College - Lisa J. Dettling, Sarena F. Goodman, and Jonathan Smith - This paper investigates the effects of high-speed Internet on students' college application decisions. www.federalreserve.gov/econresdata/feds/2015/files/2015108pap.pdf

November 30, 2015 - Financial Incentives, Hospital Care, and Health Outcomes: Evidence from Fair Pricing Laws - Michael M. Batty and Benedic N. Ippolito - It is often assumed that financial incentives of healthcare providers affect the care they deliver, but this issue is surprisingly difficult to study. www.federalreserve.gov/econresdata/feds/2015/files/2015107pap.pdf

November 30, 2015 - How Much Are Car Purchases Driven by Home Equity Withdrawal? Evidence from Household Surveys - Brett McCully, Karen M. Pence, and Daniel J. Vine - We use data from three nationally representative surveys to document that very few households report purchasing cars with home equity lines of credit or the proceeds from a cash-out refinancing. www.federalreserve.gov/econresdata/feds/2015/files/2015106pap.pdf

November 30, 2015 - Statistical Release - Finance Companies - G.20.  www.federalreserve.gov/releases/g20/Current/

November 30, 2015 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update.  www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

November 30, 2015 - Open Board Meeting Memoranda - Matter to be considered: Implementation of the Dodd-Frank Act amendments to the emergency lending authority under Section 13(3) of the Federal Reserve Act.  www.federalreserve.gov/aboutthefed/boardmeetings/20151130openmaterials.htm

November 30, 2015 - Federal Reserve Board approves final rule specifying its procedures for emergency lending under Section 13(3) of the Federal Reserve Act.   www.federalreserve.gov/newsevents/press/bcreg/20151130a.htm
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November 25, 2015 - Financial Market Stress Rises for Third Consecutive Week - Financial market stress has risen modestly for the third consecutive reporting week. For the week ending Nov. 20, the St. Louis Fed Financial Stress Index measured -0.822, up 0.029 basis points from the prior week’s revised value of -0.850. Measured from a year earlier, the index has increased by 0.461 basis points. www.stlouisfed.org/news-releases/2015/11/25/financial-market-stress-rises-for-third-consecutive-week

November 25, 2015 - Advisory Council - Record of the Meeting of the Community Advisory Council and the Board of Governors - The Community Advisory Council was formed by the Federal Reserve Board in 2015 to offer diverse perspectives on the economic circumstances and financial services needs of consumers and communities, with a particular focus on the concerns of low- and moderate-income populations. www.federalreserve.gov/aboutthefed/cac.htm

November 25, 2015 - NCUA Hosting Mortgage Lending Webinar - Learn about Outsourcing Mortgage Underwriting and Compliance Requirements for Mortgage Lenders - Credit unions can get valuable information about mortgage outsourcing, mortgage best practices and compliance requirements for lenders during an upcoming webinar, “Mortgage Lending,” hosted by the National Credit Union Administration. www.ncua.gov/newsroom/Pages/news-nov-2015-mortgage-lending-webinar.aspx

November 25, 2015 - Agencies announce threshold for smaller loan exemption from appraisal requirements for higher-priced mortgage loans - The Consumer Financial Protection Bureau , Federal Reserve Board, and Office of the Comptroller of the Currency today announced that the threshold for exempting loans from special appraisal requirements for higher-priced mortgage loans during 2016 will remain $25,500.
Press Release: www.federalreserve.gov/newsevents/press/bcreg/20151125b.htm
Press Release: www.occ.gov/news-issuances/news-releases/2015/nr-ia-2015-152.html

November 25, 2015 - Agencies announce 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 the dollar thresholds in Regulation Z and Regulation M that will apply for determining exempt consumer credit and lease transactions in 2016. www.federalreserve.gov/newsevents/press/bcreg/20151125c.htm

November 25, 2015 - Federal Reserve Board approves final rule to modify its capital plan and stress testing rules - The Federal Reserve Board on Wednesday approved a final rule to modify its capital plan and stress testing rules. The changes would take effect for the 2016 capital plan and stress testing cycle. www.federalreserve.gov/newsevents/press/bcreg/20151125a.htm

November 24, 2015 - NCUA to Livestream Panel Discussion on Reaching Hispanic Members - The National Credit Union Administration’s Dec. 1 panel discussion, “Unique Challenges and Opportunities Serving Hispanic Credit Union Members,” will be available over livestream, the agency announced today.
http://www.ncua.gov/newsroom/Pages/news-2015-nov-livestream-panel-discussion.aspx

November 24, 2015 - NCUA, National Disability Institute to Host Live - Join the Discussion to Learn More about the Financial Condition of People with Disabilities and How Credit Unions Can Help - Nearly 20 percent of households headed by a working-age adult with disabilities lack access to traditional financial services, and credit unions seeking to serve this population can get valuable information from an upcoming Twitter chat hosted by the National Credit Union Administration and the National Disability Institute. 
www.ncua.gov/newsroom/Pages/news-2015-nov-disability-institute-twitter-chat.aspx

November 24, 2015 - FDIC-Insured Institutions Earn $40.4 Billion in Third Quarter 2015 - Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation reported aggregate net income of $40.4 billion in the third quarter of 2015, up $1.9 billion (5.1 percent) from a year earlier.  www.fdic.gov/news/news/press/2015/pr15092.html

November 24, 2015 - Financial Well-Being of Individuals Living in Areas with Concentrated Poverty - Jeff Larrimore - Much of the attention to income inequality and poverty is focused on individual level circumstances.  www.federalreserve.gov/econresdata/notes/feds-notes/2015/financial-well-being-of-individuals-living-in-areas-with-concentrated-poverty-20151124.html

November 24, 2015 - Federal Reserve Board announces implementation of several recommendations to enhance supervision of large and complex banking organizations - The Federal Reserve Board on Tuesday announced that it is implementing several recommendations to enhance the supervision of large and complex banking organizations. www.federalreserve.gov/newsevents/press/bcreg/20151124b.htm

November 24, 2015 - Minutes of the Board's discount rate meetings for October 26, 2015.  www.federalreserve.gov/newsevents/press/monetary/monetary20151124a1.pdf

November 24, 2015 - Federal Reserve Board proposes rule requiring large banking organizations to publicly disclose several measures of their liquidity profile - The Federal Reserve Board on Tuesday proposed a rule requiring large banking organizations to publicly disclose several measures of their liquidity profile.  www.federalreserve.gov/newsevents/press/bcreg/20151124a.htm

November 24, 2015 - Federal Reserve Board issues enforcement actions with Tri-County Bank and The Bank of Monroe.   www.federalreserve.gov/newsevents/press/enforcement/20151124a.htm

November 23, 2015 - Evolution of U.S. Overnight Money Market - Economic Perspectives video discusses the recent evolution of the U.S. overnight money market and how the Federal Reserve’s tools to implement monetary policy have evolved with the market. www.chicagofed.org/publications/economic-perspectives/2015/3q-chabot-damico

November 23, 2015 - Economic Growth Improved in October - The Chicago Fed National Activity Index was -0.04 in October, up from -0.29 in September.   www.chicagofed.org/publications/cfnai/index

November 23, 2015 - NCUA Risk-Based Capital Rule Report Includes Legislative Recommendations - Risk-Based Capital Rule Report Includes Legislative Recommendations.   www.ncua.gov/newsroom/Pages/news-2015-nov-final-risk-based-capital-report.aspx

Nov. 23, 2015 – With the National Credit Union Administration’s risk-based capital rule now finalized, credit unions would benefit from changes Congress could make in the Federal Credit Union Act, the agency said.  http://www.ncua.gov/newsroom/Pages/news-2015-nov-final-risk-based-capital-report.aspx#sthash.iHzPBNvV.dpuf 

November 23, 2015 - Cybersecurity Awareness Resources - As part of the FDIC's Community Banking Initiative, the agency is adding to its cybersecurity awareness resources for financial institutions. These include a Cybersecurity Awareness video and three new vignettes for the Cyber Challenge, which consists of exercises that are intended to encourage discussions of operational risk issues and the potential impact of information technology disruptions on common banking functions. www.fdic.gov/news/news/financial/2015/fil15055.html

November 23, 2015 - Supervision Manuals - Consumer Compliance Handbook, November 2015 Update - These manuals are intended to provide guidance to supervisory personnel in planning and conducting inspections and are to be used in conjunction with other supervisory guidance and manuals. www.federalreserve.gov/boarddocs/supmanual/default.htm#consumer

November 23, 2015 - Volcker Rule - Frequently Asked Questions - Section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act added a new section 13 to the Bank Holding Company Act of 1956, commonly referred to as the Volcker rule, that generally prohibits insured depository institutions and any company affiliated with an insured depository institution from engaging in proprietary trading and from acquiring or retaining ownership interests in, sponsoring, or having certain relationships with a hedge fund or private equity fund.  www.federalreserve.gov/bankinforeg/volcker-rule/faq.htm

November 23, 2015 - Credit and Liquidity Programs and the Balance Sheet - Quarterly Report on Federal Reserve Balance Sheet Developments, November 2015 - 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

November 23, 2015 - Credit and Liquidity Programs and the Balance Sheet - Federal Reserve Banks Combined Quarterly Financial Reports (Unaudited), 2015:Q3.   www.federalreserve.gov/monetarypolicy/bst_fedfinancials.htm#quarterly

November 20, 2015 - NCUA - Helping Other People Excel Federal Credit Union Closes - Member Deposits Protected up to $250,000 by Share Insurance Fund - The National Credit Union Administration today liquidated Helping Other People Excel Federal Credit Union of Jackson, New Jersey.
http://www.ncua.gov/newsroom/Pages/news-2015-nov-hope-cu-closes.aspx 

November 20, 2015 - OCC Enforcement Actions and Terminations for November 2015 - 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. http://www.occ.gov/news-issuances/news-releases/2015/nr-occ-2015-151.html

November 20, 2015 - St. Louis Fed's Bullard Discusses Five Questions Related to U.S. Monetary Policy - Federal Reserve Bank of St. Louis President James Bullard on Friday discussed “Answers to Five Questions Related to U.S. Monetary Policy” at an event hosted by the Fort Smith Regional Chamber of Commerce and the University of Arkansas – Fort Smith. www.stlouisfed.org/news-releases/2015/11/20/st-louis-feds-bullard-discusses-five-questions-related-to-us-monetary-policy

November 20, 2015 - Updated FFIEC Management Booklet Part of IT Examination Handbook Series - The Federal Financial Institutions Examination Council has issued a revised "Management" booklet that provides guidance to assist examiners in evaluating the information technology (IT) governance at financial institutions and service providers. The booklet is part of the IT Examination Handbook series. www.fdic.gov/news/news/financial/2015/fil15054.html

November 20, 2015 - Jerome H. Powell, Governor - Opening Remarks - At the 2015 Roundtable on Treasury Markets and Debt Management: Evolution of Treasury Market and Its Implications, New York, New York. www.federalreserve.gov/newsevents/speech/powell20151120a.htm
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November 19, 2015 - Financial Market Stress Rises for Second Consecutive Week - Financial market stress rose modestly in the latest reporting week. For the week ending Nov. 13, the St. Louis Fed Financial Stress Index measured -0.846, up 0.038 basis points from the prior week’s revised value of -0.884 and the second consecutive weekly increase. www.stlouisfed.org/news-releases/2015/11/19/financial-market-stress-rises-for-second-consecutive-week

November 19, 2015 - Speech by Vice Chair Stanley Fischer - Emerging Asia in Transition - At the "Policy Challenges in a Diverging Global Economy" 2015 Asia Economic Policy Conference sponsored by the Federal Reserve Bank of San Francisco, San Francisco, California.  www.federalreserve.gov/newsevents/speech/fischer20151119a.htm

November 19, 2015 - 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 with the Federal Reserve, either weekly or quarterly.  www.federalreserve.gov/monetarypolicy/reservereq-reserve-maintenance-manual.htm

November 19, 2015 - Advance Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System will be held at 11:30 AM on November 23, 2015. www.federalreserve.gov/aboutthefed/boardmeetings/20151123advexp.htm

November 19, 2015 - Federal Reserve Board announces plan to redistribute unclaimed funds under Independent Foreclosure Review Payment Agreement - The Federal Reserve Board on Thursday announced a plan to redistribute unclaimed funds under the Independent Foreclosure Review Payment Agreement to eligible borrowers who have cashed or deposited checks.  www.federalreserve.gov/newsevents/press/bcreg/20151119a.htm

November 19, 2015 - Federal Reserve Board announces termination of enforcement actions with Regent Bancorp, Inc., and Jones Bancshares, L.P. and PrimeSouth Bancshares, Inc. www.federalreserve.gov/newsevents/press/enforcement/20151119a.htm

November 19, 2015 - Federal Reserve announces TDF test operation - The Federal Reserve plans to continue its previously announced periodic testing of the Term Deposit Facility with one operation in December. www.federalreserve.gov/newsevents/press/monetary/20151119a.htm

November 18, 2015 - Brian Fogle Appointed to Federal Reserve Board’s Community Advisory Council - A community foundation leader from Springfield, Mo. has been appointed to the Federal Reserve Board’s newly created Community Advisory Council.  www.stlouisfed.org/news-releases/2015/11/18/brian-fogle-appointed-to-federal-reserve-board-community-advisory-council

November 18, 2015 - Statistical Release - Charge-Off and Delinquency Rates on Loans and Leases at Commercial Banks.  www.federalreserve.gov/releases/chargeoff/

November 18, 2015 - Minutes of the Federal Open Market Committee, October 27-28, 2015 - The minutes for each regularly scheduled meeting of the Committee ordinarily are made available three weeks after the day of the policy decision and subsequently are published in the Board's Annual Report.  www.federalreserve.gov/monetarypolicy/fomccalendars.htm

November 18, 2015 - The Federal Reserve Board on Wednesday announced its approval of the application by Community Bank System, Inc., DeWitt, New York, to acquire Oneida Financial Corp., and thereby indirectly acquire Oneida Savings Bank, both of Oneida, New York, and State Bank of Chittenango, Chittenango, New York. www.federalreserve.gov/newsevents/press/orders/orders20151118a1.pdf

November 17, 2015 - Minimum DIF Reserve Ratio Requirement - Notice of Proposed Rulemaking - On October 22, 2015, the FDIC Board of Directors approved the attached Notice of Proposed Rulemaking to implement the provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act: (1) raising the minimum reserve ratio of the Deposit Insurance Fund from 1.15 percent to 1.35 percent;  www.fdic.gov/news/news/financial/2015/fil15053.pdf 

November 17, 2015 - Information Disclosures, Default Risk, and Bank Value - Ilknur Zer - This paper investigates the causal effects of voluntary information disclosures on a bank's expected default probability, enterprise risk, and value. I measure disclosure via a self-constructed index for the largest 80 U.S. bank holding companies for the period 1998-2011. www.federalreserve.gov/econresdata/feds/2015/files/2015104pap.pdf

November 17, 2015 - Debt Statistics a la Carte: Alternative Recipes for Measuring Government Indebtedness - Daniel A. Dias and Mark L. J. Wright - According to Eurostat, the Greek government owed Euro 317 billion in debt at the end of 2014.  www.federalreserve.gov/econresdata/notes/ifdp-notes/2015/debt-statistics-a-la-carte-alternative-recipes-for-measuring-government-indebtedness-20151117.html

November 17, 2015 - Daniel K. Tarullo, Governor - Thinking Critically about Nonbank Financial Intermediation - At the Brookings Institution, Washington, D.C. www.federalreserve.gov/newsevents/speech/tarullo20151117a.htm

November 17, 2015 - Governor Jerome H. Powell - Central Clearing in an Interdependent World - At the Clearing House Annual Conference, New York, New York.   www.federalreserve.gov/newsevents/speech/powell20151117a.htm

November 17, 2015 - Federal Reserve Board announces approval of application by Baylake Corp. - The Federal Reserve Board on Monday announced its approval of the application under section 3 of the Bank Holding Company Act by Baylake Corp., Sturgeon Bay, to merge with NEW Bancshares, Inc., Kewaunee, and thereby indirectly acquire its subsidiary bank, Union State Bank, Kewaunee, all of Wisconsin. www.federalreserve.gov/newsevents/press/orders/20151116a.htm

November 16, 2015 - November’s NCUA Report Now Available - The National Credit Union Administration announced today the November 2015 issue of The NCUA Report is now available online. - This latest issue includes columns from NCUA Board Chairman Debbie Matz, Vice Chairman Rick Metsger and Board Member J. Mark McWatters.
www.ncua.gov/newsroom/Pages/news-2015-nov-ncua-report.aspx

November 16, 2015 - Economic Outlook - Rhys Bidder, economist at the Federal Reserve Bank of San Francisco, stated his views on the current economy and the outlook as of November 12, 2015. www.frbsf.org/economic-research/publications/fedviews/2015/november/november-12-2015/

November 16, 2015 - FDIC Clarifying its Approach to Banks Offering Products and Services, such as Deposit Accounts and Extensions of Credit, to Non-Bank Payday Lenders - The FDIC is reissuing FIL-14-2005, "Payday Lending Programs:  www.fdic.gov/news/news/financial/2015/fil15052.html

November 16, 2015 - Eliciting GDP Forecasts from the FOMC's Minutes Around the Financial Crisis - Neil R. Ericsson - Stekler and Symington construct indexes that quantify the Federal Open Market Committee's views about the U.S. economy, as expressed in the minutes of the FOMC's meetings. www.federalreserve.gov/econresdata/ifdp/2015/files/ifdp1152.pdf

November 16, 2015 - International Trade, Risk and the Role of Banks - Friederike Niepmann and Tim Schmidt-Eisenlohr - International trade exposes exporters and importers to substantial risks. To mitigate these risks, firms can buy special trade finance products from banks.  www.federalreserve.gov/econresdata/ifdp/2015/files/ifdp1151.pdf

November 16, 2015 - Information, Contract Design, and Unsecured Credit Supply: Evidence from Credit Card Mailings - Song Han, Benjamin Keys, and Geng Li - How do lenders of unsecured credit use screening and contract design to mitigate the risks of information asymmetry and limited commitment in the absence of collateral?   www.federalreserve.gov/econresdata/feds/2015/files/2015103pap.pdf 

November 16, 2015 - Proposals for Comment - Proposal to use the ORSOM rating system in reviews of financial market infrastructures. www.federalreserve.gov/apps/foia/dfproposals.aspx#OP-1521

November 13, 2015 - NCUA Feds Feed Families Contributions Reach 153,752 Pounds of Food - Farm-to-Table Gleaning Operation Provides Major Boost to New Record Donation - More than 128,000 meals will be served in the coming year with food donated by staff of the National Credit Union Administration to the annual Feds Feed Families food drive.
www.ncua.gov/newsroom/Pages/news-2015-nov-feds-feed-families.aspx

November 13, 2015 - Economic Outlook - Reuven Glick, group vice president at the Federal Reserve Bank of San Francisco, stated his views on the current economy and the outlook as of October 8, 2015. www.frbsf.org/economic-research/publications/fedviews/2015/october/october-08-2015/

November 13, 2015 - FDIC Updates Brokered Deposit FAQs, Seeks Comment on Revised Document - The Federal Deposit Insurance Corporation today updated a document that provides answers to Frequently Asked Questions (FAQs) on identifying, accepting, and reporting brokered deposits and sought comment on the revised FAQs. www.fdic.gov/news/news/press/2015/pr15091.html

November 13, 2015 - Federal Reserve Board announces approval of applications by Farmers Bank of Northern Missouri.   www.federalreserve.gov/newsevents/press/orders/orders20151113a1.pdf

November 13, 2015 - Agencies announce final EGRPRA outreach meeting - The federal banking agencies will hold an outreach meeting on Wednesday, December 2, 2015, at the Federal Deposit Insurance Corporation in Arlington, Va., as part of their regulatory review under the Economic Growth and Regulatory Paperwork Reduction Act of 1996.
Press Release: www.federalreserve.gov/newsevents/press/other/20151113a.htm
Press Release: www.fdic.gov/news/news/press/2015/pr15090.html
Press elease: www.occ.gov/news-issuances/news-releases/2015/nr-ia-2015-150.html

November 12, 2015 - Midwest Farmland Values Flat in Third Quarter - Latest AgLetter reports Seventh District farmland values in the third quarter of 2015 were overall unchanged from a year ago. www.chicagofed.org/~/media/publications/agletter/2015-2019/november-2015-pdf.pdf?la=en

November 12, 2015 - Evans Addresses National Communities Council - Chicago Fed President Charles Evans talked about monetary policy and the economy November 12 at the at the National Communities Council Fall Leadership Forum in Chicago. www.chicagofed.org/publications/speeches/2015/cautious-approach-to-monetary-policy-normalization

November 12, 2015 - New NCUA Consumer Assistance Center Portal Open to Credit Unions- Portal will Streamline Complaint Process; Use is Voluntary; Registration Required - Credit unions can now resolve consumer complaints more efficiently through the National Credit Union Administration’s Consumer Assistance Center online portal, the agency announced today. www.ncua.gov/newsroom/Pages/news-2015-nov-consumer-assistance-center-portal.aspx

November 12, 2015 - NCUA to Host Panel Discussion on Reaching Hispanic Members - Hispanics are the largest minority group in America, and credit unions seeking to improve service to Hispanic members will find helpful information during an upcoming panel discussion hosted by the National Credit Union Administration. www.ncua.gov/newsroom/Pages/news-2015-nov-panel-discussion.aspx

November 12, 2015 - Financial Market Stress Rises for First Time in Five Weeks - Financial market stress rose slightly in the latest reporting week—the first increase in five weeks. For the week ending Nov. 6, the St. Louis Fed Financial Stress Index measured -0.880, up 0.004 basis points from the prior week’s revised value of -0.884. www.stlouisfed.org/news-releases/2015/11/12/financial-market-stress-rises-for-first-time-in-five-weeks

November 12, 2015 - Community Depository Institutions Advisory Council - Record of meeting, November 6, 2015.  www.federalreserve.gov/aboutthefed/cdiac.htm

November 12, 2015 - Vice Chairman Stanley Fischer - The Transmission of Exchange Rate Changes to Output and Inflation - At the "Monetary Policy Implementation and Transmission in the Post-Crisis Period," a research conference sponsored by the Board of Governors of the Federal Reserve System, Washington, D.C. www.federalreserve.gov/newsevents/speech/fischer20151112a.htm

November 12, 2015 - Chair Janet L. Yellen - Welcoming Remarks - At the "Monetary Policy Implementation and Transmission in the Post-Crisis Period," a research conference sponsored by the Board of Governors of the Federal Reserve System, Washington, D.C. www.federalreserve.gov/newsevents/speech/yellen20151112a.htm

November 12, 2015 - Federal Reserve Board announces annual indexing of reserve requirement exemption amount and of low reserve tranche for 2016 - The Federal Reserve Board on Thursday announced the annual indexing of two amounts used in determining reserve requirements of depository institutions.  http://www.federalreserve.gov/newsevents/press/bcreg/20151112a.htm

November 12, 2015 - Federal Reserve Board issues enforcement action with East West Bank.  www.federalreserve.gov/newsevents/press/enforcement/enf20151112a1.pdf
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November 10, 2015 - NCUA Board Reschedules Closed Meeting - National Credit Union Administration Board members have agreed to reschedule the closed Board meeting set for Thursday, Nov. 19, 2015.  www.ncua.gov/newsroom/Pages/news-2015-nov-closed-meeting-rescheduled.aspx

November 10, 2015 - October NCUA Board Video Now Available - – The video recording of the October 2015 open meeting of the National Credit Union Administration Board is now available on the agency’s website.   www.ncua.gov/newsroom/Pages/news-2015-nov-board-video.aspx

November 10, 2015 - The Federal Financial Institutions Examination Council today issued a statement about a revised Management booklet, which is part of the FFIEC Information Technology Examination Handbook
Press Release: www.ffiec.gov/press/pr111015.htm
Press Release: www.ncua.gov/newsroom/Pages/news-2015-nov-revised-management-booklet.aspx

November 10, 2015 - Measurement Error in Macroeconomic Data and Economics Research: Data Revisions, Gross Domestic Product, and Gross Domestic Income - Andrew C. Chang and Phillip Li - We analyze the effect of measurement error in macroeconomic data on economics research using two features of the estimates of latent US output produced by the Bureau of Economic Analysis. www.federalreserve.gov/econresdata/feds/2015/files/2015102pap.pdf

November 10, 2015 - Federal Reserve Bank of Minneapolis names Neel Kashkari as president and chief executive officer, effective Jan. 1, 2016 www.minneapolisfed.org/news-and-events/news-releases/federal-reserve-bank-of-minneapolis-announcement-november-10-2015

November 10, 2015 - Federal Reserve Board issues enforcement actions -The Bank of Nova Scotia, Toronto (PDF), Canada and Bank of Nova Scotia New York Agency, New York, New York.   www.federalreserve.gov/newsevents/press/enforcement/enf20151110a1.pdf

November 9, 2015 - NCUA Posts New Risk-Based Capital Video - Credit union managers, staff and boards can learn more about the National Credit Union Administration’s risk-based capital rule and what to expect during its three-year implementation period in a new video released today by the agency.
www.ncua.gov/newsroom/Pages/news-2015-nov-risk-based-capital-video.aspx

November 6, 2015 - 2015 NHS Community Banks Partnership Meeting Summary - ProfitWise News and Views article summarizes Neighborhood Housing Services and Chicago Fed’s annual community banks partnership meeting.  www.chicagofed.org/~/media/publications/profitwise-news-and-views/2015/pnv-issue3-2015-web-final-pdf.pdf

November 6, 2015 - St. Louis Fed's Bullard Discusses Five Questions on U.S. Monetary Policy - Federal Reserve Bank of St. Louis President James Bullard on Friday discussed “Five Questions on U.S. Monetary Policy” at the St. Louis Regional Chamber Financial Forum. www.stlouisfed.org/news-releases/2015/11/06/st-louis-feds-bullard-discusses-five-questions-on-us-monetary-policy

November 6, 2015 - Advisory on Effective Risk Management Practices for Purchased Loans and Purchased Loan Participations - The FDIC is issuing the attached Advisory to update information contained in the FDIC Advisory on Effective Credit Risk Management Practices for Purchased Loan Participations.  www.fdic.gov/news/news/financial/2015/fil15049.html

November 6, 2015 - Supervisory Guidance on the Capital Treatment of Certain Investments in Covered Funds - The FDIC is issuing this Financial Institution Letter to FDIC-supervised institutions to clarify the interaction between the regulatory capital rule and the final rule implementing section 13 of the Bank Holding Company Act with respect to the appropriate capital treatment for investments in certain private equity funds and hedge funds. www.fdic.gov/news/news/financial/2015/fil15050.html

November 6, 2015 - Statistical Release - Consumer Credit - G.19 - Consumer credit increased at a seasonally adjusted annual rate of 7-1/2 percent during the third quarter. Revolving credit increased at an annual rate of 6-1/2 percent, while nonrevolving credit increased at an annual rate of 8 percent. In September, consumer credit increased at an annual rate of 10 percent. www.federalreserve.gov/releases/g19/current/

November 6, 2015 - Supervisory Guidance on the Capital Treatment of Certain Investments in Covered Funds under the Regulatory Capital Rule and the Volcker Rule.   www.federalreserve.gov/bankinforeg/srletters/sr1513.pdf

November 6, 2015 - Advertising and Risk Selection in Health Insurance Markets - Naoki Aizawa and You Suk Kim - We study impacts of advertising as a channel of risk selection in Medicare Advantage. We show evidence that both mass and direct mail advertising are targeted to achieve risk selection.  www.federalreserve.gov/econresdata/feds/2015/files/2015101pap.pdf

November 6, 2015 - Nowcasting Indonesia - Matteo Luciani, Madhavi Pundit, Arief Ramayandi, and Giovanni Veronese - We produce predictions of the current state of the Indonesian economy by estimating a dynamic factor model on a dataset of eleven indicators (also followed closely by market operators) over the time period 2002 to 2014. www.federalreserve.gov/econresdata/feds/2015/files/2015100pap.pdf

November 6, 2015 - Governor Lael Brainard - Unconventional Monetary Policy and Cross-Border Spillovers - At the "Unconventional Monetary and Exchange Rate Policies," 16th International Monetary Fund Jacques Polak Research Conference, Washington, D.C. www.federalreserve.gov/newsevents/speech/brainard20151106a.pdf
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November 5, 2015 - Financial Market Stress Declines for Fourth Consecutive Week - Financial stress continued to decline last week, according to the St. Louis Fed Financial Stress Index. For the week ending Oct. 30, the index measured -0.879, down from the prior week’s revised value of -0.847.  www.stlouisfed.org/news-releases/2015/11/05/financial-market-stress-declines-for-fourth-consecutive-week

November 5, 2015 - Shared National Credits Review Notes High Credit Risk and Weaknesses Related to Leveraged Lending and Oil and Gas - Credit risk in the Shared National Credit portfolio remained at a high level, according to an annual review of large shared credits released today by federal banking agencies.
Press Release: www.fdic.gov/news/news/press/2015/pr15089.html
Press Release: www.occ.gov/news-issuances/news-releases/2015/nr-ia-2015-149.html 

November 5, 2015 - The Corporate Saving Glut in the Aftermath of the Global Financial Crisis - Joseph W. Gruber and Steven B. Kamin - We examine the increase in the net lending (saving minus investment) of nonfinancial corporations in the years preceding and especially following the Global Financial Crisis.  www.federalreserve.gov/econresdata/ifdp/2015/files/ifdp1150.pdf

November 5, 2015 - Governor Daniel K. Tarullo - Shared Responsibility for the Regulation of International Banks - At "The Future of Large and Internationally Active Banks" 18th Annual International Banking Conference, sponsored by the Federal Reserve Bank of Chicago and the World Bank, Chicago, Illinois.  www.federalreserve.gov/newsevents/speech/tarullo20151105a.pdf

November 5, 2015 - Shared National Credits review notes high credit risk and weaknesses related to leveraged lending and oil and gas - Credit risk in the Shared National Credit portfolio remained at a high level, according to an annual review of large shared credits released today by federal banking agencies. www.federalreserve.gov/newsevents/press/bcreg/20151105a.htm

November 5, 2015 - Federal Reserve Board permanently bars Rohit Bansal from participating in the banking industry - The Federal Reserve Board on Thursday permanently barred Rohit Bansal, a former investment banker at Goldman Sachs & Co., from participating in the banking industry following his guilty plea for misdemeanor theft of confidential information from the Federal Reserve. www.federalreserve.gov/newsevents/press/enforcement/20151105a.htm

November 5, 2015 - Federal Reserve announces new study to examine U.S. payments usage - Minneapolis, November 5, 2015--The Federal Reserve today announced plans to conduct its sixth triennial study to determine the current aggregate volume and composition of electronic and check payments in the United States.   www.federalreserve.gov/newsevents/press/other/20151105a.htm

November 4, 2015 - NCUA Opens Nominations for First 2016 Consulting Round - Eligible credit unions interested in consulting assistance from the National Credit Union Administration’s Office of Small Credit Union Initiatives in the first half of 2016 have until Nov. 30 to submit nominations, the agency announced today. www.ncua.gov/newsroom/Pages/news-2015-sept-first-consulting-round-nominations.aspx

November 4, 2015 - Monetary Policy, Incomplete Information, and the Zero Lower Bound - Christopher J. Gust, Benjamin K. Johannsen, and David Lopez-Salido - In the context of a stylized New Keynesian model, we explore the interaction between imperfect knowledge about the state of the economy and the zero lower bound.   www.federalreserve.gov/econresdata/feds/2015/files/2015099pap.pdf

November 4, 2015 - Why Do Short Sellers Like Qualitative News? - Bastian von Beschwitz, Oleg Chuprinin, and Massimo Massa - Short sellers trade more on days with qualitative news--i.e. news containing fewer numbers. We show that this behavior is not informationally motivated but can be explained by short sellers exploiting higher liquidity on such days.   www.federalreserve.gov/econresdata/ifdp/2015/files/ifdp1149.pdf

November 4, 2015 - Stanley Fischer, Vice Chairman - Central Bank Independence - At the 2015 Herbert Stein Memorial Lecture National Economists Club, Washington, D.C. www.federalreserve.gov/newsevents/speech/fischer20151104a.htm

November 4, 2015 - Chair Janet L. Yellen, Chair - Supervision and Regulation - Before the Committee on Financial Services, U.S. House of Representatives, Washington, District of Columbia.   www.federalreserve.gov/newsevents/testimony/yellen20151104a.htm

November 4, 2015 - Federal Reserve Board announces civil money penalty and issues cease and desist order against Deutsche Bank AG - The Federal Reserve Board on Wednesday announced a $58 million penalty and consent cease and desist order against Deutsche Bank AG, of Frankfurt, Germany, related to violations of U.S. sanctions.  www.federalreserve.gov/newsevents/press/enforcement/20151104a.htm

November 3, 2015 - OCC Releases CRA Evaluations for 34 National Banks and Federal Savings Associations - The Office of the Comptroller of the Currency today released a list of Community Reinvestment Act (CRA) performance evaluations that became public during the period of October 1, 2015 through October 31, 2015. www.occ.gov/news-issuances/news-releases/2015/nr-occ-2015-148.html

November 3, 2015 - FFIEC Releases Statement on Cyber Attacks Involving Extortion - The Federal Financial Institutions Examination Council members today issued a statement alerting financial institutions to the increasing frequency and severity of cyber attacks involving extortion. www.ffiec.gov/press/pr110315.htm

November 3, 2015 - FDIC Announces Advisory Committee on Community Banking Meeting - The Federal Deposit Insurance Corporation today announced that it will hold a meeting of the Advisory Committee on Community Banking on Thursday, November 5.  www.fdic.gov/news/news/press/2015/pr15088.html

November 3, 2015 - 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 (CRA). The list covers evaluation ratings that the FDIC assigned to institutions in August 2015. www.fdic.gov/news/news/press/2015/pr15087.html

November 3, 2015 - Securitization and Credit Quality - Alper Kara, David Marques-Ibanez, and Steven Ongena - Banks are usually better informed on the loans they originate than outside investors. As a result, securitized loans might be of lower credit quality than--otherwise similar--non-securitized loans.  www.federalreserve.gov/econresdata/ifdp/2015/files/ifdp1148.pdf

November 3, 2015 - Biased Shorts: Short sellers' Disposition Effect and Limits to Arbitrage - Bastian von Beschwitz and Massimo Massa - We investigate whether short sellers are subject to the disposition effect using a novel dataset that allows to identify the closing of short positions. Consistent with the disposition effect, short sellers are more likely to close a position the higher their capital gains. www.federalreserve.gov/econresdata/ifdp/2015/files/ifdp1147.pdf

November 3, 2015 - Payment System Risk - Quarterly Data Updates.  www.federalreserve.gov/paymentsystems/psr_data.htm

November 3, 2015 - Reserve Bank Payment Services - Fedwire Funds Services, Fedwire Securities Services, and National Settlement Service - Quarterly Data Update.   www.federalreserve.gov/paymentsystems/default.htm

November 3, 2015 - Federal Reserve Board approves fee schedule for Federal Reserve Bank priced services - The Federal Reserve Board on Tuesday announced the approval of fee schedules, effective January 1, 2016, for payment services the Federal Reserve Banks provide to depository institutions. www.federalreserve.gov/newsevents/press/other/20151103a.htm

November 2, 2015 - FFIEC Releases Statement on Cyber Attacks Involving Extortion - The Federal Financial Institutions Examination Council members today issued a statement alerting financial institutions to the increasing frequency and severity of cyber attacks involving extortion.
www.ncua.gov/newsroom/Pages/news20151102FFIEC-statement-on-cyber-attacks-involving-extortion.aspx 

November 2, 2015 - NCUA Launches Redesigned Website - Changes Include Easier Navigation, Mobile-Friendly Content and a New Design - Users of the National Credit Union Administration’s public website will be able to find the critical information they need more easily thanks to the debut of the agency’s redesigned and improved website, available here. www.ncua.gov/newsroom/Pages/news20151102NCUA-Launches-Redesigned-Website.aspx

November 2, 2015 - Comptroller Highlights Increasing Credit Risk - Comptroller of the Currency Thomas J. Curry today discussed increasing credit risk facing the federal banking system. The Comptroller made these remarks during the Risk Management Associations’ Annual Risk Management Conference.  www.occ.gov/news-issuances/speeches/2015/pub-speech-2015-147.pdf

November 2, 2015 - A Trillion Dollar Question: What Predicts Student Loan Delinquencies? - Alvaro A. Mezza and Kamila Sommer - The recent significant increase in student loan delinquencies has generated interest in understanding the key factors predicting the non-performance of these loans.  www.federalreserve.gov/econresdata/feds/2015/files/2015098pap.pdf

November 2, 2015 - Surveys and Reports - Senior Loan Officer Opinion Survey on Bank Lending Practices, October 2015.  www.federalreserve.gov/boarddocs/SnLoanSurvey/201511/default.htm

November 2, 2015 - Statistical Release - Foreign Exchange Rates - G.5 - The table below shows the average rates of exchange in OCTOBER 2015 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