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R. Kinney Williams
Yennik, Inc.

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The E-mail Banking News
(Bank Regulatory News)

November 201
7

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November 30, 2017 - Midwest Economy Index - Index points to steady Midwest economic growth in - The Midwest Economy Index was unchanged at –0.12 in October. Contributions to the October MEI from two of the four broad sectors of nonfarm business activity and three of the five Seventh Federal Reserve District states decreased from September. www.chicagofed.org/~/media/publications/mei/2017/mei-october2017-pdf.pdf

November 30, 2017 - NCUA Issues Prohibition Notices - The National Credit Union Administration issued three prohibition orders and five notices of prohibition in November. These eight individuals are prohibited from participating in the affairs of any federally insured financial institution. www.ncua.gov/newsroom/Pages/news-2017-nov-prohibition-notices.aspx

November 30, 2017 - FDIC Issues CRA Examination Schedules for First and Second Quarter 2018 - The Federal Deposit Insurance Corporation today issued the lists of institutions scheduled for a Community Reinvestment Act examination during the first and second quarters of 2018. www.fdic.gov/news/news/press/2017/pr17091.html

November 30, 2017 - Federal Reserve Board announces termination of enforcement action with Brand Group Holdings, Inc. and The Brand Banking Company.   www.federalreserve.gov/newsevents/pressreleases/enforcement20171130a.htm

November 29, 2017 - ProfitWise News and Views - Articles on community and economic development news, trends, policy, and research. www.chicagofed.org/publications/profitwise-news-and-views/index

November 29, 2017 - Survey shows growth slowed in October and early November - The Chicago Fed Survey of Business Conditions Activity Index decreased to –13 from –6, suggesting that growth in economic activity remained at a modest pace in October and early November. www.chicagofed.org/~/media/publications/cfsbc/2017/cfsbc-november2017-pdf.pdf

November 29, 2017 - AgLetter Reports Midwest Farmland Values Down Slightly in Third Quarter - In the third quarter of 2017, agricultural land values for the Seventh Federal Reserve District were down 1 percent from a year ago. www.chicagofed.org/publications/agletter/2015-2019/november-2017

November 29,2017 - NCUA Awards $536,000 in Grants to Help Credit Unions Reach Underserved Members - Twenty-three federally insured, low-income credit unions in 17 states have been awarded $536,000 in grants to support outreach to underserved members, the National Credit Union Administration announced today. www.ncua.gov/newsroom/Pages/news-2017-nov-grant-awardees.aspx

November 29, 2017 - Community Reinvestment Act Regulations: Notice of Rulemaking - The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation published on November 24, 2017, a final rule in the Federal Register that revises their regulations implementing the Community Reinvestment Act. www.occ.treas.gov/news-issuances/bulletins/2017/bulletin-2017-58.html

November 29, 2017 - Mandatory Contractual Stay Requi - rements for Qualified Financial Contracts - The Office of the Comptroller of the Currency published a final rule in the Federal Register today that will enhance the resilience and the safety and soundness of federally chartered and licensed financial institutions. www.occ.treas.gov/news-issuances/bulletins/2017/bulletin-2017-57.html

November 29, 2017 - SF Fed’s Williams: The Challenges of a Strong Economy and Low Inflation Require a Balanced Approach to Monetary Policy - Today, John C. Williams, president and CEO of the Federal Reserve Bank of San Francisco, described the current economic outlook and considerations for monetary policy to an audience of executives and business owners at the 54th Annual Economic Forecast Luncheon. www.frbsf.org/our-district/press/news-releases/2017/john-williams-challenges-of-strong-economy-and-low-inflation-require-balanced-approach-to-monetary-policy/

November 29,2017 - Learning and the Value of Trade Relationships - Ryan Monarch and Tim Schmidt-Eisenlohr - This paper quantifies the value of importer-exporter relationships. We show that almost 80 percent of U.S. imports take place in pre-existing relationships, with sizable heterogeneity across countries, and show that traded quantities and survival increase as relationships age. www.federalreserve.gov/econres/ifdp/files/ifdp1218.pdf

November 29, 2017 - On Intergenerational Immobility: Evidence that Adult Credit Health Reflects the Childhood Environment - Sarena Goodman, Alice Henriques, and Alvaro Mezza - Using a novel dataset that links socioeconomic background to future credit, postsecondary education, and federal student loan and grant records, we document that, even though it is not and cannot be used by credit agencies in assigning risk, background is a strong predictor of adult credit health. www.federalreserve.gov/econres/feds/2017.htm#2017032

November 29, 2017 - Bank Failures, Capital Buffers, and Exposure to the Housing Market Bubble - Gazi I. Kara and Cindy M. Vojtech - We empirically document that banks with greater exposure to high home price-to-income ratio regions in 2005 and 2006 have higher mortgage delinquency and charge-off rates and significantly higher probabilities of failure during the last financial crisis even after controlling for capital, liquidity, and other standard bank performance measures. www.federalreserve.gov/econres/feds/files/2017115pap.pdf

November 29, 2017 - Updates to the Sampling of Wealthy Families in the Survey of Consumer Finances - Jesse Bricker, Alice M. Henriques, and Kevin B. Moore - Participation in household surveys has fallen over time, making it harder to produce a household survey--like the Survey of Consumer Finances --in a timely manner. www.federalreserve.gov/econres/feds/files/2017114pap.pdf

November 29,2017 - Beige Book - Informal review by the Federal Reserve Banks of current economic conditions in their Districts. www.federalreserve.gov/recentpostings.htm

November 29, 2017 - Statistical Release - Finance Companies - G.20. www.federalreserve.gov/releases/g20/current/

November 29, 2017 - FRB/US model packages - The main FRB/US model package is a self-contained set of equations, data, programs and documentation that enables various types of simulations and provides information about the model's structure. www.federalreserve.gov/econres/us-models-package.htm

November 29, 2017 - Testimony by Chair Janet L. Yellen - The Current Economic Outlook and Monetary Policy - Before the Joint Economic Committee, U.S. Congress, Washington, D.C. www.federalreserve.gov/newsevents/testimony/yellen20171129a.htm

November 28, 2017 - First Deputy Comptroller Discusses Whether Bank Holding Companies Are Obsolete - First Deputy Comptroller of the Currency Keith A. Noreika today discussed whether bank holding companies are obsolete, during a forum hosted by the American Enterprise Institute, entitled “Is the Bank Holding Company Act obsolete?” www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-142.html

November 28, 2017 - OCC Issues First and Second Quarter 2018 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 and second quarters of 2018. www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-143.html

November 28, 2017 - NCUA Issues Fourth Quarter Newsletter - The National Credit Union Administration released today the fourth quarter edition of its online newsletter.  www.ncua.gov/newsroom/Pages/news-2017-nov-ncua-issues-fourth-quarter-newsletter.aspx

November 28, 2017 - Identification of Monetary Policy Shocks with External Instrument SVAR Kyungmin Kim - We explore the use of external instrument SVAR to identify monetary policy shocks. www.federalreserve.gov/econres/feds/2017.htm#2017113

November 28, 2017 - Testimony by Governor Jerome H. Powell Confirmation hearing - Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate, Washington, D.C. www.federalreserve.gov/newsevents/testimony/powell20171128a.htm

November 28, 2017 - Federal Reserve Board announces approval of application by National Bank Holdings Corporation - The Federal Reserve Board on Tuesday announced its approval of the application under section 3 of the Bank Holding Company Act of 1956 by National Bank Holdings Corporation, Greenwood Village, Colorado, to merge with Peoples, Inc., Lawrence, Kansas, and thereby indirectly acquire Peoples Bank, Lawrence, Kansas, and Peoples National Bank, Colorado Springs, Colorado. www.federalreserve.gov/newsevents/pressreleases/orders20171128a.htm

November 28, 2017 - Federal Reserve Board issues consent order against Peoples Bank - The Federal Reserve Board on Tuesday issued a Consent Order against Peoples Bank, Lawrence, Kansas, for deceptive residential mortgage origination practices in violation of section 5 of the Federal Trade Commission Act. www.federalreserve.gov/newsevents/pressreleases/enforcement20171128a.htm

November 28, 2017 - Minutes of the Board's discount rate meetings from October 10 through November 1, 2017. www.federalreserve.gov/newsevents/pressreleases/monetary20171128a.htm

November 27, 2017 - Growing Power Founder Will Allen to Give Keynote Friday at St. Louis Fed "Harvesting Opportunity" Event - Will Allen, urban farmer and founder of Growing Power Inc., will be the keynote luncheon speaker at a Dec. 1 event hosted by the Federal Reserve Bank of St. Louis in conjunction with the release of the book, Harvesting Opportunity: The Power of Regional Food System Investments to Transform Communities. www.stlouisfed.org/news-releases/2017/11/27/will-allen-to-give-keynote-at-harvesting-opportunity-event

November 27, 2017 - Joseph M. Otting Takes Office as the 31st Comptroller of the Currency - Joseph M. Otting today became the 31st Comptroller of the Currency, after being sworn into office by Secretary of the Treasury Steven T. Mnuchin and being confirmed by the U.S. Senate on November 16, 2017. www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-141.html

November 27, 2017 - FDIC Announces Webinar on Resources for Accessing Affordable Mortgage Credit - The FDIC is hosting a webinar on December 8, 2017, from 2:00 p.m. to 3:30 p.m. Eastern Time. www.fdic.gov/news/news/financial/2017/fil17061.html

November 27, 2017 - The Continuing Validity of Monetary Policy Autonomy Under Floating Exchange Rates - Edward Nelson - Economic research in recent years has given considerable prominence to the issue of whether a floating exchange rate provides autonomy with regard to monetary policy to a central bank whose economy is highly open. www.federalreserve.gov/econres/feds/2017.htm#2017112

November 27, 2017 - Testimony by Governor Jerome H. Powell Confirmation hearing Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate, Washington, D.C. www.federalreserve.gov/newsevents/testimony/powell20171128a.htm

November 27, 2017 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update.  www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

November 22, 2017 - Regulatory Capital Rule: 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 are issuing a final rule, applicable to non-advanced approaches national banks and federal savings associations. www.occ.treas.gov/news-issuances/bulletins/2017/bulletin-2017-56.html
 
November 22, 2017 - Minutes of the Federal Open Market Committee, October 31-November 1, 2017 www.federalreserve.gov/newsevents/pressreleases/monetary20171122a.htm
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November 22, 2017 - Innovation, Productivity, and Monetary Policy - Patrick Moran and Albert Queralto - To what extent can monetary policy impact business innovation and productivity growth? We use a New Keynesian model with endogenous total factor productivity to quantify the TFP losses due to the constraints on monetary policy imposed by the zero lower bound and the TFP benefits of tightening monetary policy more slowly than currently anticipated. www.federalreserve.gov/econres/ifdp/files/ifdp1217.pdf

November 22, 2017 - Federal Reserve Board announces approval of proposal by Sandy Spring Bancorp, Inc. - The Federal Reserve Board on Wednesday announced its approval of the proposal under sections 3 and 4 of the Bank Holding Company Act of 1956 by Sandy Spring Bancorp, Inc., Olney, Maryland, to merge with WashingtonFirst Bankshares, Inc. and thereby indirectly acquire WashingtonFirst's subsidiary bank, WashingtonFirst Bank, both of Reston, Virginia, and acquire WashingtonFirst's nonbank subsidiary, 1st Portfolio, Inc., Fairfax, Virginia. www.federalreserve.gov/newsevents/pressreleases/orders20171122b.htm

November 22, 2017 - Federal Reserve Board announces approval of application by Frost Bank - The Federal Reserve Board on Wednesday announced its approval of the application under section 9 of the Federal Reserve Act by Frost Bank, San Antonio, Texas, to establish a branch at 640 Taylor Street, Fort Worth, Texas. www.federalreserve.gov/newsevents/pressreleases/orders20171122a.htm

November 21, 2017 - Chicago Fed National Activity Index - Index points to a pickup in economic growth in October - Led by improvements in production-related indicators, the Chicago Fed National Activity Index rose to +0.65 in October from +0.36 in September. www.chicagofed.org/~/media/publications/cfnai/2017/cfnai-november2017-pdf.pdf 

November 21, 2017 - The Federal Financial Institutions Examination Council, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency published a press release announcing the availability of data on small business, small farm, and community development lending. www.ffiec.gov/press/pr112117.htm

November 21, 2017 - Regulatory Capital Rules: Retention of Certain Existing Transition Provisions for Banking Organizations that Are Not Subject to the Advanced Approaches Capital Rules - The Federal bank regulatory agencies jointly have issued a final rule to extend the 2017 transition provisions under the capital rules for certain capital deductions and risk weights as well as certain minority interest requirements for banking organizations not subject to the advanced approaches capital rules. www.fdic.gov/news/news/financial/2017/fil17060.html

November 21, 2017 - Federal Banking Regulatory Agencies Announce Availability of 2016 Small Business, Small Farm, and Community Development Lending Data - The three federal banking agency members of the Federal Financial Institutions Examination Council with Community Reinvestment Act responsibilities announced today the availability of data on small business, small farm, and community development lending reported by certain commercial banks and savings associations under the CRA.
Press Release: www.fdic.gov/news/news/press/2017/pr17088.html
Press Release: www.occ.gov/news-issuances/news-releases/2017/nr-ia-2017-139.html  

November 21, 2017 - FDIC-Insured Institutions Earn $47.9 Billion in Third Quarter 2017 - Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation reported aggregate net income of $47.9 billion in the third quarter of 2017, up $2.4 billion (5.2 percent) from a year earlier. www.fdic.gov/news/news/press/2017/pr17087.html

November 21, 2017 - Taxonomy of Global Risk, Uncertainty, and Volatility Measures - Deepa Datta, Juan M. Londono, Bo Sun, Daniel Beltran, Thiago Ferreira, Matteo Iacoviello, Mohammad R. Jahan-Parvar, Canlin Li, Marius Rodriguez, and John Rogers - A large number of measures for monitoring risk and uncertainty surrounding macroeconomic and financial outcomes have been proposed in the literature, and these measures are frequently used by market participants, policy makers, and researchers in their analyses. www.federalreserve.gov/econres/ifdp/files/ifdp1216.pdf

November 21, 2017 - Federal banking agencies finalize extension of certain capital rule transitions - The federal banking agencies on Tuesday finalized a rule for certain banking organizations by extending the existing capital requirements for mortgage servicing assets and certain other items.
Press Release: https://www.federalreserve.gov/newsevents/pressreleases/bcreg20171121a.htm
Press Release: www.fdic.gov/news/news/press/2017/pr17089.html
Press Release: www.occ.gov/news-issuances/news-releases/2017/nr-ia-2017-140.html

November 20, 2017 - St. Louis Fed Offers Data, History Related to Thanksgiving, Christmas - From driving to shopping, and cranberries to turkey – and even why the Fed advised against giving gold one year for Christmas.  www.stlouisfed.org/news-releases/2017/11/20/st-louis-fed-offers-data-and-history-related-to-thanksgiving-and-christmas

November 20, 2017 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at on November 20, 2017. Matter(s) considered: Periodic Supervisory Update. www.federalreserve.gov/aboutthefed/boardmeetings/20171120closed.htm

November 20, 2017 - Agencies announce threshold for smaller loan exemption from appraisal requirements for higher-priced mortgage loans - The Consumer Financial Protection Bureau, Board of Governors of the Federal Reserve System, 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 2018 will increase from $25,500 to $26,000. www.occ.gov/news-issuances/news-releases/2017/nr-ia-2017-138.html

November 20, 2017 - Janet L. Yellen will step down as a Member of the Board of Governors of the Federal Reserve System, effective upon the swearing in of her successor as Chair.   www.federalreserve.gov/newsevents/pressreleases/other20171120a.htm

November 20, 2017 - Agencies amend CRA regulations to conform to HMDA regulation changes and remove references to the Neighborhood Stabilization Program - The federal bank regulatory agencies have amended their respective Community Reinvestment Act regulations primarily to conform to changes made by the Consumer Financial Protection Bureau to Regulation C, which implements the Home Mortgage Disclosure Act.
Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20171120a.htm
Press Release: www.fdic.gov/news/news/press/2017/pr17086.html
Press Release: www.occ.gov/news-issuances/news-releases/2017/nr-ia-2017-137.html

November 17, 2017 - Public Notice and Comments: Update of Comptroller’s Licensing Manual - On May 8, 2017, the Office of the Comptroller of the Currency issued a new version of the “Public Notice and Comments” booklet of the Comptroller’s Licensing Manual. www.occ.treas.gov/news-issuances/bulletins/2017/bulletin-2017-55.html

November 17, 2017 - Deputy Comptroller for the Central District Blake Paulson today discussed opportunities and challenges facing the nation’s community banks. During his remarks at the 12th Annual Community Bankers Symposium, the Deputy Comptroller also highlighted agency efforts to reduce unnecessary burden facing small and midsize banks and to promote economic opportunity. www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-136.html

November 17, 2017 - Federal Reserve Board extends comment periods for two related proposals until February 15, 2018 www.federalr0erina Powers - Life insurance ownership has declined markedly over the past 30 years, continuing a trend that began as early as 1960. www.chicagofed.org/publications/economic-perspectives/2017/8

November 17, 2017 - NCUA Board Approves 2018-2019 Budget - New, Simpler Methodology Yields 61.5 Percent Overhead Transfer Rate - The National Credit Union Administration Board held its tenth open meeting of 2017 at the agency’s headquarters here today and unanimously approved three items: www.ncua.gov/newsroom/Pages/news-2017-nov-ncua-board-approves-2018-2019-budget.aspx

November 17, 2017 - SF Fed’s Williams: The Challenges of Sustained Low Interest Rates Merit Reexamination of Monetary Policy Frameworks Worldwide.  www.frbsf.org/our-district/press/news-releases/2017/john-williams-the-challenges-of-sustained-low-interest-rates-merit-reexamination-monetary-policy-worldwide/

November 16, 2017 - 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 1:00 p.m. on November 20, 2017. Matter(s) considered: Periodic Supervisory Update. www.federalreserve.gov/recentpostings.htm

November 16, 2017 - Statistical Release - Industrial Production and Capacity Utilization - G.17 - Industrial production rose 0.9 percent in October, and manufacturing increased 1.3 percent. The index for utilities rose 2.0 percent, but mining output fell 1.3 percent, as Hurricane Nate caused a sharp but short-lived decline in oil and gas drilling and extraction. www.federalreserve.gov/releases/g17/Current/

November 16, 2017 - Where Do Consumers Fit in the Fintech Stack? Governor Lael Brainard At "FinTech Risks and Opportunities: An I nterdisciplinary Approach," a conference sponsored by the University of Michigan, Ann Arbor, Michigan www.federalreserve.gov/newsevents/speech/brainard20171116a.htm
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November 16, 2017 - OCC Enforcement Actions and Terminations for November 2017 - 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/2017/nr-occ-2017-135.html

November 16, 2017 - Statistical Release - Industrial Production and Capacity Utilization - G.17 - Industrial production rose 0.9 percent in October, and manufacturing increased 1.3 percent. The index for utilities rose 2.0 percent, but mining output fell 1.3 percent, as Hurricane Nate caused a sharp but short-lived decline in oil and gas drilling and extraction. www.federalreserve.gov/releases/g17/Current/

November 15, 2017 - Low Inflation and the Symmetry of the 2 Percent Target A speech delivered on November 15, 2017, before the UBS European Conference in London, England. www.chicagofed.org/publications/speeches/2017/11-15-2017-low-inflation-and-symmetry-of-two-percent-target-charles-evans-london-ubs 

November 15, 2017 - Branches and Relocations: Revised Comptroller’s Licensing Manual Booklet - The Office of the Comptroller of the Currency issued today the “Branches and Relocations” booklet of the Comptroller’s Licensing Manual, which replaces the booklet of the same title issued in October 2009. www.occ.treas.gov/news-issuances/bulletins/2017/bulletin-2017-54.html

November 15, 2017 - The U.S. Economic Outlook - Nicholas Sly Assistant Vice President and Economist Federal Reserve Bank of Kansas City.   www.kansascityfed.org/~/media/files/publicat/speeches/2017/2017-sly-efpueblo-10-04.pdf

November 15, 2017 - Emerging Trends in the Colorado Economy By Alison Felix Economist and Branch Executive Federal Reserve Bank of Kansas City Denver Branch.  www.kansascityfed.org/~/media/files/publicat/speeches/2017/2017-felix-efpueblo-10-04.pdf

November 15, 2017 - Banker Teleconference Series: Small Business Resources for Community Banks - Timely and Comprehensive Information and Insights from the FDIC - The FDIC will discuss small business resources and research pertinent to community banks, including the Money Smart for Small Businesses financial education program; the FDIC's Small Business Lending Survey; and Community Reinvestment Act consideration for small business lending, services, and investments. www.fdic.gov/news/news/financial/2017/fil17059.html

November 15, 2017 - Speech by Governor Lael Brainard - Regional Food Systems and Community Development.  https://www.federalreserve.gov/newsevents/speech/files/brainard20171115a.pdf

November 15, 2017 - The Potential Increase in Corporate Debt Interest Rate Payments from Changes in the Federal Funds Rate - This note studies the response of interest expenses of U.S. nonfinancial corporations to an increase in interest rates. www.federalreserve.gov/econres/notes/feds-notes/potential-increase-in-corporate-debt-interest-rate-payments-from-changes-in-the-federal-funds-rate-20171115.htm

November 15, 2017 - Bank Holding Company Supervision Manual, semiannual update - Provides guidance for conducting inspections of bank holding companies and their nonbank subsidiaries. www.federalreserve.gov/publications/supervision_bhc.htm

November 15, 2017 - Federal Reserve Board announces approval of application by South State Corporation - The Federal Reserve Board on Wednesday announced its approval of the application under section 3 of the Bank Holding Company Act of 1956 by South State Corporation, Columbia, South Carolina, to acquire Park Sterling Corporation and thereby indirectly acquire PSC's subsidiary bank, Park Sterling Bank, both of Charlotte, North Carolina. www.federalreserve.gov/newsevents/pressreleases/orders20171115a.htm

November 14, 2017 - Business Combinations: Revised Comptroller’s Licensing Manual Booklet - The Office of the Comptroller of the Currency issued today the “Business Combinations” booklet of the Comptroller’s Licensing Manual. www.occ.treas.gov/news-issuances/bulletins/2017/bulletin-2017-53.html

November 14, 2017 - Fed’s Evans Talks about the Future of Odyssean and Delphic Guidance - A speech delivered on November 14, 2017, before the European Central Bank Conference in Frankfurt, Germany. www.chicagofed.org/publications/speeches/2017/11-14-2017-future-odyssean-and-delphic-guidance-charles-evans-frankfurt-ecb

November 14, 2017 - U.S. and Oklahoma Economic Update By Megan Williams - Associate Economist & Manager, Oklahoma City Branch Federal Reserve Bank of Kansas City.   www.kansascityfed.org/~/media/files/publicat/speeches/2017/2017-williams-afp-11-17.pdf

November 14, 2017 - St. Louis Fed's Bullard Discusses the Question of When U.S. Inflation Will Return to Target - Federal Reserve Bank of St. Louis President James Bullard gave remarks on “When Will U.S. Inflation Return to Target?” at the Economic Update Breakfast hosted by the St. Louis Fed and the Association for Corporate Growth. www.stlouisfed.org/news-releases/2017/11/14/bullard-discusses-inflation-target

November 14, 2017 - Federal Reserve Board announces termination of enforcement action with Maple Leaf Financial, Inc.   www.federalreserve.gov/newsevents/pressreleases/enforcement20171114a.htm

November 13, 2017 - NCUA - Budget Briefing Video Available Online - The video recording of the Oct. 18 public briefing on the National Credit Union Administration’s proposed 2018-2019 budget is now available online. www.ncua.gov/newsroom/Pages/news-2017-nov-budget-briefing-video-available-online.aspx 

November 13, 2017 - NCUA Board Sets 2018 Meeting Schedule - The National Credit Union Administration Board today released its monthly meeting schedule for 2018. www.ncua.gov/newsroom/Pages/news-2017-nov-ncua-board-sets-2018-meeting-schedule.aspx

November 13, 2017 - U.S. and Oklahoma Economic Update By Megan Williams Associate Economist & Manager, Oklahoma City Branch Federal Reserve Bank of Kansas City.   www.kansascityfed.org/~/media/files/publicat/speeches/2017/2017-williams-mfg-alliance-11-17.pdf

November 13, 2017 - Common Factors, Trends, and Cycles in Large Datasets - Matteo Barigozzi and Matteo Luciani - This paper considers a non-stationary dynamic factor model for large datasets to disentangle long-run from short-run co-movements. We first propose a new Quasi Maximum Likelihood estimator of the model based on the Kalman Smoother and the Expectation Maximisation algorithm. www.federalreserve.gov/econres/feds/files/2017111pap.pdf

November 13, 2017 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

November 13, 2017 - Federal Reserve Board approves fee schedule for Federal Reserve Bank priced services - The Federal Reserve Board on Monday announced the approval of fee schedules, effective January 2, 2018, for payment services the Federal Reserve Banks provide to depository institutions. www.federalreserve.gov/newsevents/pressreleases/other20171113a.htm 

November 9, 2017 - AgLetter : November 2017 By David Oppedahl - In the third quarter of 2017, agricultural land values for the Seventh Federal Reserve District were down 1 percent from a year ago. www.chicagofed.org/publications/agletter/2015-2019/november-2017

November 9, 2017 - Statistical Release - Structure Data for U.S. Banking Offices of Foreign Entities - Data are collected as of the end of the month for March, June, September and December, and generally are released three months later. www.federalreserve.gov/releases/iba/default.htm
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November 9, 2017 - Revised Comptroller’s Licensing Manual Booklet - The Office of th - e Comptroller of the Currency issued today the “Background Investigations” booklet of the Comptroller’s Licensing Manual, which revises the booklet of the same title issued in April 2009. www.occ.treas.gov/news-issuances/bulletins/2017/bulletin-2017-52.html

November 9, 2017 - St. Louis Fed Recognized Again for Inclusive Culture - The Federal Reserve Bank of St. Louis was recognized for the second year in a row for the organization’s commitment to inclusive culture. www.stlouisfed.org/news-releases/2017/11/09/st-louis-fed-recognized-again-for-inclusive-culture

November 9, 2017 - St. Louis Fed Ag Survey: Farm Income Continues To Fall in Third Quarter - Farm income continued to decline in the Midwest and Mid-South during the third quarter of 2017, according to the latest Agricultural Finance Monitor published by the Federal Reserve Bank of St. Louis. www.stlouisfed.org/news-releases/2017/11/09/afm-1192017

November 9, 2017 - Proposed Revisions to the Consolidated Reports of Condition and Income for June 2018 - In their continuing effort to reduce data reporting and other burdens for small and large institutions, the federal banking agencies, as members of the Federal Financial Institutions Examination Council, are requesting comment on further burden-reducing revisions to all three versions of the Call Report. www.fdic.gov/news/news/financial/2017/fil17058.html

November 9, 2017 - October 2017 NCUA Board Meeting Video Available - The video recording of the Oct. 19, 2017, open meeting of the National Credit Union Administration Board is now available on the agency’s website. www.ncua.gov/newsroom/Pages/news-2017-nov-oct-ncua-board-meeting-video-available.aspx 

November 9, 2017 - NCUA Marks Veterans Day 2017 - Federally Insured Credit Unions Serve More Than 14 Million Service Members and Veterans - National Credit Union Administration Board Chairman J. Mark McWatters and Board Member Rick Metsger today issued statements on the eve of Veterans Day. www.ncua.gov/newsroom/Pages/news-2017-nov-veterans-day.aspx

November 8, 2017 - Impact of CRA Ratings on Licensing Applications - The Office of the Comptroller of the Currency is issuing guidance to provide transparency regarding its framework for evaluating certain types of licensing applications when an applicant bank has an overall Community Reinvestment Act rating of “Needs to Improve” or “Substantial Noncompliance” or a less than satisfactory CRA rating in one or more geographic rating areas. www.occ.treas.gov/news-issuances/bulletins/2017/bulletin-2017-51.html

November 8, 2017 - Acting Comptroller Explores the Separation of Banking and Commerce - Acting Comptroller of the Currency Keith A. Noreika today explored how the separation of banking and commerce evolved in the United States and called for a broader discussion of whether the separation continues to serve the best interest of the nation’s banking system and economy today. www.occ.gov/news-issuances/speeches/2017/pub-speech-2017-134.pdf

November 8, 2017 - U.S. and Oklahoma Economic Update - NAIOP Commercial Real Estate Development Association November 8, 2017 Chad Wilkerson Oklahoma City Branch Executive and Economist Federal Reserve Bank of Kansas City.  www.kansascityfed.org/~/media/files/publicat/speeches/2017/2017_wilkerson-commercial-real-estate-development-11-17.pdf

November 8, 2017 - St. Louis Fed Releases New Research on Household Debt “Tipping Points” - The Center for Household Financial Stability at the Federal Reserve Bank of St. Louis and the Private Debt Project of the Governor's Woods Foundation have published new research that was presented at the second “Tipping Points” symposium in June 2017. www.stlouisfed.org/news-releases/2017/11/8/st-louis-fed-releases-new-research-on-household-debt-tipping-points

November 8, 2017 - Proposed Revisions to the Consolidated Reports of Condition and Income for June 30, 2018 - The Federal Deposit Insurance Corporation, the Federal Reserve Board, and the Office of the Comptroller of the Currency are requesting comment on additional burden-reducing revisions to all three versions of the Consolidated Reports of Condition and Income. www.fdic.gov/news/news/financial/2017/fil17057.html

November 8, 2017 - Currency and Coin Services - $1 Coin Quarterly Inventories, Payments, and Receipts, Quarterly data updates.  www.federalreserve.gov/paymentsystems/coin_data.htm

November 8, 2017 - Legal Interpretations - Bank Holding Companies/Savings and Loan Holding Companies/Change in Control - 2017 Letters.   www.federalreserve.gov/supervisionreg/legalinterpretations/bhc_changeincontrol2017.htm

November 8, 2017 - Advisory Councils - Community Advisory Council - Record of Meeting, November 3, 2017 - 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 7, 2017 - Mexico’s Growing Role in the Auto Industry Under NAFTA: Who Makes What and What Goes Where By Thomas H. Klier , James Rubenstein - Mexico has become one of the world’s leading producers and exporters of motor vehicles, although it has no automakers of its own. www.chicagofed.org/publications/economic-perspectives/2017/6

November 7, 2017 - Blockchain and Financial Market Innovation By Rebecca Lewis , John W. McPartland , Rajeev Ranjan - Introduction and summary - Blockchain technology is likely to be a key source of future financial market innovation. It allows for the creation of immutable records of transactions accessible by all participants in a network. www.chicagofed.org/publications/economic-perspectives/2017/7

November 7, 2017 - Subordinated Debt: Revised Comptroller’s Licensing Manual Booklet - The Office of the Comptroller of the Currency issued today the “Subordinated Debt” booklet of the Comptroller’s Licensing Manual. This revised booklet replaces the booklet of the same title issued in November 2003 and the related guidance issued April 3, 2015. www.occ.treas.gov/news-issuances/bulletins/2017/bulletin-2017-50.html

November 7, 2017 - IFDP Notes - A New Dataset of Macroprudential Policy Governance Structures - Ricardo Correa, Rochelle M. Edge, and Nellie Liang - Governance structures are a critical part of a framework for implementing macroprudential policy, alongside methodologies for measuring and monitoring systemic risk, and analyses to understand the impact of policies that may be used to mitigate risk. www.federalreserve.gov/econres/notes/ifdp-notes/new-dataset-of-macroprudential-policy-governance-structures-20171107.htm

November 7, 2017 - Statistical Release - Consumer Credit - G.19 - Consumer credit increased at a seasonally adjusted annual rate of 5-1/2 percent during the third quarter. Both revolving and nonrevolving credit increased at similar annual rates. In September, consumer credit increased at an annual rate of 6-3/4 percent. www.federalreserve.gov/releases/g19/current/default.htm

November 7, 2017 - Speech by Chair Janet L. Yellen - Remarks accepting the 2017 Paul H. Douglas Award for Ethics in Government.   www.federalreserve.gov/newsevents/speech/yellen20171107a.htm

November 7, 2017 - 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 November 9, 2017. Matter(s) considered: Bank Supervisory Matter. www.federalreserve.gov/aboutthefed/boardmeetings/20171109closed.htm

November 6, 2017 - Randal K. Quarles sworn in as member of the Board of Governors of the Federal Reserve System and as Vice Chair for Supervision - Randal K. Quarles was ceremonially sworn in as a member of the Board of Governors of the Federal Reserve System and as Vice Chair for Supervision on Monday in the atrium of the Board's Eccles building in Washington. www.federalreserve.gov/newsevents/pressreleases/other20171106a.htm

November 3, 2017 - 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/2017/pr17085.html

November 3, 2017 - Federal Reserve Board announces annual indexing of reserve requirement exemption amount and of low reserve tranche for 2018.   www.federalreserve.gov/newsevents/pressreleases/bcreg20171103a.htm

November 3, 2017 - Chair Yellen's calendar - Chair Yellen's calendar archive since February 2014. www.federalreserve.gov/foia/chairscalendar.htm

November 3, 2017 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update . www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

November 3, 2017 - An Assessment of the National Establishment Time Series Database - Keith Barnatchez, Leland D. Crane, and Ryan A. Decker - The National Establishment Time Series is a private sector source of U.S. business microdata. www.federalreserve.gov/econres/feds/files/2017110pap.pdf

November 3, 2017 - Mechanics of linear quadratic Gaussian rational inattention tracking problems - Chad Fulton - This paper presents a general framework for constructing and solving the multivariate static linear quadratic Gaussian rational inattention tracking problem. www.federalreserve.gov/econres/feds/files/2017109pap.pdf  

November 3, 2017 - The Great Recession and a Missing Generation of Exporters - William F. Lincoln, Andrew H. McCallum, and Michael Siemer - The collapse of international trade surrounding the Great Recession has garnered significant attention. www.federalreserve.gov/econres/feds/files/2017108pap.pdf

November 3, 2017 - What's the Story? A New Perspective on the Value of Economic Forecasts - Steven A. Sharpe, Nitish R. Sinha, and Christopher A. Hollrah - We apply textual analysis tools to measure the degree of optimism versus pessimism of the text that describes Federal Reserve Board forecasts published in the Greenbook.   www.federalreserve.gov/econres/feds/files/2017107pap.pdf

November 3, 2017 - Having a Lot Isn't Enough: Trends in Upsizing Houses and Shrinking Lots - Dillon Bowen and Geng Li - Properties like those in Figure 1 from a suburban community in Atlanta, Georgia, were a rare sight twenty or thirty years ago. www.federalreserve.gov/econres/notes/feds-notes/trends-in-upsizing-houses-and-shrinking-lots-20171103.htm

November 3, 2017 - Federal Reserve Board announces annual indexing of reserve requirement exemption amount and of low reserve tranche for 2018.   www.federalreserve.gov/newsevents/pressreleases/bcreg20171103a.htm

November 2, 2017 - Acting Comptroller Discusses Efforts to Promote Lending and Investment in Distressed Communities - Acting Comptroller of the Currency Keith A. Noreika today discussed efforts by the Office of the Comptroller of the Currency to support lending and investment in distressed communities. www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-133.html

November 2, 2017 - The three federal banking agencies, as members of the Federal Financial Institutions Examination Council, are proposing additional revisions to streamline the "Call Report" as part of their efforts to reduce data reporting and other burdens for financial institutions. www.ffiec.gov/press/pr110217.htm

November 2, 2017 - Statement by Federal Reserve Board Chair Yellen on the nomination of Governor Powell by President Trump.   www.federalreserve.gov/newsevents/pressreleases/other20171102b.htm

November 2, 2017 - Statement by Federal Reserve Board Governor Powell on his nomination by President Trump www.federalreserve.gov/newsevents/pressreleases/other20171102a.htm
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November 2, 2017 - Introductory remarks by Governor Jerome H. Powell At the Roundtable of the Alternative Reference Rates Committee, The Federal Reserve Bank of New York, New York, New York.  www.federalreserve.gov/newsevents/speech/powell20171102a.htm

November 2, 2017 - Federal Reserve Board issues enforcement action with Wayne Bank and Trust Company.  www.federalreserve.gov/newsevents/pressreleases/enforcement20171102a.htm

November 1, 2017 - Acting Comptroller of the Currency Issues Statement following the President's Signature Overturning the Consumer Financial Protection Bureau's Rule on Arbitration Agreements - Acting Comptroller of the Currency Keith A. Noreika issued the following statement following the President’s signature of the resolution overturning the Consumer Financial Protection Bureau’s rule on arbitration agreements: www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-132.html

November 1, 2017 - OCC Releases CRA Evaluations for 18 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 October 1, 2017 through October 31, 2017. www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-131.html

November 1, 2017 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at 1:30 p.m. on October 31, 2017 and continued at 9:00 a.m. on November 1, 2017. Matter(s) considered: Discussion of Monetary Policy Issues. www.federalreserve.gov/aboutthefed/boardmeetings/20171031closed.htm

November 1, 2017 - Statistical Release - Foreign Exchange Rates - G.5 - The table below shows the average rates of exchange in OCTOBER 2017 together with comparable figures for other months. www.federalreserve.gov/releases/g5/current/default.htm

November 1, 2017 - Federal Reserve Board announces appointment of James A. Clouse as secretary of the Federal Open Market Committee - The Federal Reserve Board on Wednesday announced that James A. Clouse has been appointed secretary of the Federal Open Market Committee, succeeding Brian F. Madigan, effective November 26. www.federalreserve.gov/newsevents/pressreleases/other20171101a.htm

November 1, 2017 - Federal Reserve issues FOMC statement - Information received since the Federal Open Market Committee met in September indicates that the labor market has continued to strengthen and that economic activity has been rising at a solid rate despite hurricane-related disruptions. www.federalreserve.gov/newsevents/pressreleases/monetary20171101a.htm

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