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November 30, 2018 - Midwest Economy Index Points to Slower Growth in October - The Midwest Economy Index moved down to +0.23 in October from +0.31 in September. Contributions to the October MEI from all 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/2018/mei-october2018-pdf.pdf November 30, 2018 - NCUA Issues Prohibition Notices - The National Credit Union Administration issued one prohibition notice and one prohibition order in November. These individuals are prohibited from participating in the affairs of any federally insured financial institution. www.ncua.gov/newsroom/Pages/news-2018-nov-ncua-issues-prohibition-notices.aspx November 30, 2018 - Office of the Comptroller of the Currency Fees and Assessments: Calendar Year 2019 Fees and Assessments Structure - This bulletin informs all national banks, federal savings associations, and federal branches and agencies of foreign banks of fees and assessments charged by the Office of the Comptroller of the Currency for calendar year 2019. The bulletin becomes effective January 1, 2019. www.occ.treas.gov/news-issuances/bulletins/2018/bulletin-2018-43.html November 30, 2018 - OCC Reduces Assessments for Regulated Banks and Savings Associations - The Office of the Comptroller of the Currency today announced it will reduce assessments on national banks, federal savings associations, and federal branches and agencies of foreign banks for 2019. www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-129.html November 30, 2018 - FDIC Makes Public October Enforcement Actions - The FDIC issued a total of 16 orders and one notice in October. The administrative enforcement actions in those orders consisted of four consent orders; two terminations of consent orders; two Section 19 orders; one temporary order to cease and desist; four removal and prohibition orders; three civil money penalties; and one notice. www.fdic.gov/news/news/press/2018/pr18089.html November 30, 2018 - FDIC Issues CRA Examination Schedules for First Quarter 2019 and Second Quarter 2019 - The Federal Deposit Insurance Corporation today issued the lists of institutions scheduled for a Community Reinvestment Act examination during the first quarter of 2019 and second quarter of 2019. www.fdic.gov/news/news/press/2018/pr18090.html November 30, 2018 - Level Shifts in Beta, Spurious Abnormal Returns and the TARP Announcement - Andrew Phin, Todd Prono, Jonathan J. Reeves, and Konark Saxena - Using high frequency data, we develop an event study method to test for level shifts in beta and measure abnormal returns for events that produce such level shifts. www.federalreserve.gov/econres/feds/files/2018081pap.pdf November 30, 2018 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm November 30, 2018 - Statistical Release - Finance Companies - G.20. www.federalreserve.gov/releases/g20/current/g20.htm November 30, 2018 - Federal Reserve Board announces plans to present Janet L. Yellen Award for Excellence in Community Development - The award is intended to honor former Chair Yellen's commitment to ensuring that the perspectives of consumers and communities informed Federal Reserve research, policy, and action. www.federalreserve.gov/newsevents/pressreleases/other20181130a.htm November 29, 2018 - Federal Reserve Board releases results of survey of senior financial officers at banks regarding their reserve balance management strategies and practices - The Senior Financial Officer Survey has been used on occasion by the Board to obtain information about deposit pricing and behavior, bank liability management, the provision of financial services, and reserve management strategies and practices. www.federalreserve.gov/newsevents/pressreleases/other20181129a.htm November 29, 2018 - Federal Reserve announces College Fed Challenge winners - Yale University won the 15th annual national College Fed Challenge on Thursday, a competition that encourages students to learn about the U.S. economy, monetary policymaking, and the role of the Federal Reserve System. www.federalreserve.gov/newsevents/pressreleases/other20181129b.htm ___________________________ November 29, 2018 - OCC Issues First and Second Quarter 2019 CRA Evaluation Schedule - The Office of the Comptroller of the Currency today released its schedule of Community Reinvestment Act evaluations to be conducted in the first and second quarters of 2019. www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-128.html November 29, 2018 - Senior Deputy Comptroller Discusses Compliance with the Bank Secrecy Act - Senior Deputy Comptroller for Compliance and Community Affairs Grovetta N. Gardineer today discussed initiatives to reform and modernize the Bank Secrecy Act /Anti-Money Laundering regulatory and supervisory regime. www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-127.html November 29, 2018 - Breaking Down TRACE Volumes Further - Doug Brain (Federal Reserve Bank of New York), Michiel De Pooter, Dobrislav Dobrev, Michael Fleming (Federal Reserve Bank of New York), Peter Johansson (Federal Reserve Bank of New York), Frank Keane (Federal Reserve Bank of New York), Michael Puglia, Tony Rodrigues (Federal Reserve Bank of New York), Or Shachar (Federal Reserve Bank of New York) - This joint FEDS Note and Liberty Street Economics blog post from staff at the Board of Governors and the Federal Reserve Bank of New York aims to share further initial insights on Treasury cash transactions reported in the Financial Industry Regulatory Authority's Trace Reporting and Compliance Engine www.federalreserve.gov/econres/notes/feds-notes/breaking-down-trace-volumes-further-20181129.htm November 29, 2018 - Federal Reserve Board releases results of survey of senior financial officers at banks regarding their reserve balance management strategies and practices - The Senior Financial Officer Survey has been used on occasion by the Board to obtain information about deposit pricing and behavior, bank liability management, the provision of financial services, and reserve management strategies and practices. www.federalreserve.gov/newsevents/pressreleases/other20181129a.htm November 29, 2018 - Minutes of the Federal Open Market Committee, November 7-8, 2018. www.federalreserve.gov/newsevents/pressreleases/monetary20181129a.htm November 28, 2018 - Why Does the Yield-Curve Slope Predict Recessions? By Luca Benzoni , Olena Chyruk , David Kelley - Many studies document the predictive power of the slope of the Treasury yield curve for forecasting recessions.This work is motivated, for example, by the empirical evidence in figure 1, which shows the term-structure slope, measured by the spread between the yields on ten-year and two-year U.S. Treasury securities, and shading that denotes U.S. recessions. www.chicagofed.org/publications/chicago-fed-letter/2018/404 November 28, 2018 - How Have Banks Responded to Changes in the Yield Curve? - By Thomas King , Jonathan Yu - Between December 2015 and September 2018, a cumulative increase in the federal funds rate of 200 basis points was accompanied by a compression of 125 basis points in the difference between the yields on three-month and ten-year U.S. Treasury securities. www.chicagofed.org/publications/chicago-fed-letter/2018/406 November 28, 2018 - Deposit Insurance Fund Reserve Ratio Exceeds Minimum 1.35 Percent - On September 30, 2018, the Deposit Insurance Fund Reserve Ratio reached 1.36 percent, exceeding the statutorily required minimum reserve ratio of 1.35 percent ahead of the September 30, 2020, deadline required under the Dodd-Frank Wall Street Reform and Consumer Protection Act. www.fdic.gov/news/news/financial/2018/fil18078.html November 28, 2018 - Are Millennials Different? - Christopher Kurz, Geng Li, and Daniel J. Vine - The economic wellbeing of the millennial generation, which entered its working-age years around the time of the 2007-09 recession, has received considerable attention from economists and the popular press. www.federalreserve.gov/econres/feds/files/2018080pap.pdf November 28, 2018 - Financial Stability Report - This report summarizes the Federal Reserve Board�s framework for assessing the resilience of the U.S. financial system and presents the Board�s current assessment. www.federalreserve.gov/publications/financial-stability-report.htm November 28, 2018 - Speech by Chairman Powell on the Federal Reserve's framework for monitoring financial stability At The Economic Club of New York, New York, New York. www.federalreserve.gov/newsevents/speech/powell20181128a.htm November 28, 2018 - Federal Reserve Board issues enforcement action with MyBank. www.federalreserve.gov/newsevents/pressreleases/enforcement20181128a.htm November 27, 2018 - NCUA Issues Fourth Quarter Newsletter - The latest issue of The NCUA Report features a joint column from NCUA Board Chairman J. Mark McWatters and Board Member Rick Metsger, as well as articles from several NCUA offices on the agency�s initiatives and information on regulatory, supervisory, and compliance issues affecting federally insured credit unions. www.ncua.gov/newsroom/Pages/news-2018-nov-ncua-issues-fourth-quarter-newsletter.aspx November 27, 2018 - Federal Reserve Bank of Kansas City appoints Winsett as Community Affairs Officer - He will be responsible for the Bank�s Community Development Department and lead the community development team. www.kansascityfed.org/~/media/files/publicat/newsroom/2018/releasejacksonpromotion2docx.pdf November 27, 2018 - The Federal Financial Institutions Examination Council today provided a second update on its Examination Modernization Project. - The project identifies and assesses ways to improve the effectiveness, efficiency, and quality of community financial institutions safety and soundness examination processes, particularly through increased use of technology. Press Release: www.ffiec.gov/press/pr112718.htm Press Release: www.ncua.gov/newsroom/Pages/news-2018-nov-ffiec-emphasizes-risk-focused-supervision-examination-modernization-project.aspx November 27, 2018 - Speech by Vice Chairman Richard H. ClaridabAt The Clearing House and The Bank Policy Institute Annual Conference, New York, New York - Data Dependence and U.S. Monetary Policy. www.federalreserve.gov/newsevents/speech/clarida20181127a.htm November 26, 2018 - Index points to a slight increase in economic growth in October - Led by improvements in employment-related indicators, the Chicago Fed National Activity Index increased to +0.24 in October from +0.14 in September. www.chicagofed.org/~/media/publications/cfnai/2018/cfnai-november2018-pdf.pdf November 23, 2018 - Catastrophe Bonds: A Primer and Retrospective By Andy Polacek - Since 1997, the catastrophe bond market has provided the insurance industry with protections against natural disasters that have grown more frequent and costly. This article explains how CAT bonds work, and then looks at how the market for them has grown in size, coverage, and sophistication over the past two decades. www.chicagofed.org/publications/chicago-fed-letter/2018/405 November 26, 2018 - NCUA Selects Leventis as Chief Economist - Leventis will begin his duties on Dec. 10. He succeeds Ralph Monaco, who is retiring at the end of the year after seven years with the NCUA and more than 26 years in public service. www.ncua.gov/newsroom/Pages/news-2018-nov-ncua-selects-leventis-chief-economist.aspx November 26, 2018 - OCC Publication Discusses Importance of Bank Financing for Rural Broadband Initiatives - The Office of the Comptroller of the Currency today published the latest edition of its Community Developments Investments newsletter, �Expanding Internet Access: Bank Financing for Rural Broadband Initiatives.� www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-126.html November 26, 2018 - A closed meeting of the Board of Governors of the Federal Reserve System was held at on November 26, 2018. Matter(s) considered: Periodic Supervisory Update. www.federalreserve.gov/aboutthefed/boardmeetings/20181126closed.htm November 26, 2018 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm November 26, 2018 - Communications with the public through November 26, 2018 - The Federal Reserve Board will be involved in many rulemakings to implement the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. www.federalreserve.gov/regreform/communications-with-public.htm November 26, 2018 - Michelle W. Bowman sworn in as member of the Board of Governors of the Federal Reserve System - The oath of office was administered by Chairman Jerome H. Powell in the Board Room. Ms. Bowman was accompanied by her husband and her two children. www.federalreserve.gov/newsevents/pressreleases/other20181126a.htm November 26, 2018 - What Does Labor Market Tightness Tell Us About the End of an Expansion? By Scott A. Brave , David Kelley - We use a model based on the historical relationships between unemployment, inflation, and recessions, along with the Summary of Economic Projections from the Federal Open Market Committee www.chicagofed.org/publications/chicago-fed-letter/2018/403 _______________________ November 21, 2018 - How do Capital Requirements Affect Loan Rates? Evidence from High Volatility Commercial Real Estate - David Glancy and Robert Kurtzman - Abstract: We study how bank loan rates responded to a 50% increase in capital requirements for a subcategory of construction lending, High Volatility Commercial Real Estate. www.federalreserve.gov/econres/feds/files/2018079pap.pdf November 21, 2018 - 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 3:30 p.m. on November 26, 2018. Matter(s) considered: Periodic Supervisory Update. www.federalreserve.gov/aboutthefed/boardmeetings/20181126closed.htm November 21, 2018 - Agencies propose community bank leverage ratio for qualifying community banking organizations - Three federal banking agencies on Wednesday invited public comment on a proposal that would simplify regulatory capital requirements for qualifying community banking organizations, as required by the Economic Growth, Regulatory Relief, and Consumer Protection Act. Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20181121c.htm Press Release: www.fdic.gov/news/news/press/2018/pr18088.html Press Release: www.fdic.gov/news/news/financial/2018/fil18077.html Press Release: www.occ.gov/news-issuances/news-releases/2018/nr-ia-2018-125.html November 21, 2018 - Agencies announce dollar thresholds in Regulations Z and M for exempt consumer credit and lease transactions - The Federal Reserve Board and the Bureau of Consumer Financial Protection today announced the dollar thresholds in Regulation Z and Regulation M that will apply for determining exempt consumer credit and lease transactions in 2019. www.federalreserve.gov/newsevents/pressreleases/bcreg20181121b.htm November 21, 2018 - Agencies announce threshold for smaller loan exemption from appraisal requirements for higher-priced mortgage loans - The Bureau of Consumer Financial Protection, Federal Reserve Board of Governors, 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 2019 will increase from $26,000 to $26,700. Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20181121a.htm Press Release: www.fdic.gov/news/news/financial/2018/fil18076.html Press Release: www.occ.gov/news-issuances/news-releases/2018/nr-ia-2018-124.html November 20, 2018 - What Does Labor Market Tightness Tell Us About the End of an Expansion? By Scott A. Brave , David Kelley - We use a model based on the historical relationships between unemployment, inflation, and recessions, along with the Summary of Economic Projections from the Federal Open Market Committee,to examine the medium-term implications of current and projected unemployment rates for the U.S. economy. www.chicagofed.org/publications/chicago-fed-letter/2018/403 November 20, 2018 - NCUA - October 2018 NCUA Budget Briefing and Board Meeting Videos Available - The NCUA posts videos of past Board meetings on the Board Actions webpage. Videos of the annual budget briefings, along with extensive materials related to the agency�s budget, are posted on the Budget and Supplementary Materials page. www.ncua.gov/newsroom/Pages/news-2018-nov-october-budget-briefing-board-meeting-videos-available.aspx November 20, 2018 - NCUA Board Sets 2019 Meeting Schedule - The National Credit Union Administration Board today released its monthly meeting schedule for 2019. Open Board meetings are scheduled to begin at 10 a.m. Eastern on the following dates: www.ncua.gov/newsroom/Pages/news-2018-nov-board-sets-2019-meeting-schedule.aspx November 20, 2018 - Reduced Reporting for Covered Depository Institutions - On November 19, 2018, the federal banking agencies published the attached Notice of Proposed Rulemaking that would implement Section 205 of the Economic Growth, Regulatory Relief, and Consumer Protection Act . www.fdic.gov/news/news/financial/2018/fil18075.html November 20, 2018 - FDIC Issues Notice of Proposed Rulemaking to Exempt Residential Real Estate Transactions of $400,000 or Less from Appraisal Requirements - This proposal is in response to concerns raised about the time and cost associated with completing residential real estate transactions. Press Release: www.fdic.gov/news/news/press/2018/pr18087.html Press Release: www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-123.html November 20, 2018 - FDIC-Insured Institutions Reported $62 Billion in Net Income in Third Quarter 2018 - Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation reported aggregate net income of $62 billion in the third quarter of 2018, up $14 billion (29.3 percent) from a year ago. www.fdic.gov/news/news/press/2018/pr18086.html November 20, 2018 - Agencies propose amendments to Regulation CC regarding funds availability - The Bureau of Consumer Financial Protection and the Federal Reserve Board today jointly proposed amendments to Regulation CC that would implement a statutory requirement to adjust for inflation the amount of funds depository institutions must make available to their customers. Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20181120a.htm November 19, 2018 - Catastrophe Bonds: A Primer and Retrospective - By Andy Polacek - Since 1997, the catastrophe bond market has provided the insurance industry with protections against natural disasters that have grown more frequent and costly. www.chicagofed.org/publications/chicago-fed-letter/2018/405 November 19, 2018 - Expanding Eligibility to File the FFIEC 051 Call Report: Notice of Proposed Rulemaking - On November 19, 2018, the OCC, Board of Governors of the Federal Reserve System, and Federal Deposit Insurance Corporation published a notice of proposed rulemaking to implement section 205 of the Economic Growth, Regulatory Relief, and Consumer Protection Act. www.occ.treas.gov/news-issuances/bulletins/2018/bulletin-2018-42.html November 19, 2018 - Annual Fed report shows more transactions made in-person with cash than debit or credit. - Cash remains the most frequently used payment instrument in the nation, according to a new report out of the Federal Reserve�s Cash Product Office. www.frbsf.org/our-district/press/news-releases/2018/annual-fed-report-shows-more-transactions-made-in-person-with-cash-than-debit-or-credit/ November 19, 2018 - The Federal Financial Institutions Examination Council will hold a webinar on December 6, 2018, to promote awareness and understanding of efforts to develop alternative reference rates to LIBOR, because of the uncertainty as to continued availability of LIBOR after 2021. Press Release: www.ffiec.gov/press/pr111918.htm Press release: www.ncua.gov/newsroom/Pages/news-2018-nov-ffiec-promote-awareness-potential-libor-changes.aspx November 19, 2018 - Reduced Reporting in Call Reports for Covered Depository Institutions - On November 19, 2018, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation published for public comment the attached Notice of Proposed Rulemaking to implement Section 205 of the Economic Growth, Regulatory Relief, and Consumer Protection Act. www.fdic.gov/news/news/financial/2018/fil18074.html November 19, 2018 - Charge-Off and Delinquency Rates on Loans and Leases at Commercial Banks. www.federalreserve.gov/releases/chargeoff/ November 19, 2018 - Report on Efforts to Increase Transparency at Meetings of the International Association of Insurance Supervisors - The Economic Growth, Regulatory Relief, and Consumer Protection Act was signed into law on May 24, 2018. www.federalreserve.gov/publications/report-on-efforts-to-increase-transparency-at-meetings-of-the-international-association-of-insurance-supervisors.htm November 19, 2018 - Money in the Bank? Assessing Families' Liquid Savings using the Survey of Consumer Finances - Neil Bhutta and Lisa Dettling - Families often aim to build up easily accessible savings to help deal with unexpected expenses and disruptions to their income. Professional financial planners often recommend an "emergency fund" of three to six months of expenses. www.federalreserve.gov/econres/notes/feds-notes/assessing-families-liquid-savings-using-the-survey-of-consumer-finances-20181119.htm November 19, 2018 - Federal Reserve Board fines Soci�t� G�n�rale S.A. $81.3 million for firm's unsafe and unsound practices primarily related to violations of U.S. sanctions against Cuba. www.federalreserve.gov/newsevents/pressreleases/enforcement20181119a.htm November 16, 2018 - AgLetter - A quarterly newsletter on agricultural land values and credit conditions, based on data from the Bank's survey. - According to the most recent AgLetter, Seventh District farmland values in the third quarter of 2018 were 1 percent higher than a year ago. www.chicagofed.org/publications/agletter/index November 16, 2018 - NCUA - Six Credit Union Failures Through Sept. 30 - Six federally insured credit union liquidations in the first three quarters of 2018 resulted in a $744.9 million loss to the National Credit Union Share Insurance Fund. www.ncua.gov/newsroom/Pages/news-2018-nov-six-credit-union-failures-through-september.aspx November 16, 2018 - Banker Teleconference Series: Implications from the FDIC 2017 National Survey of Unbanked and Underbanked Households - The FDIC will discuss the results of its 2017 biennial National Survey of Unbanked and Underbanked Households during a teleconference scheduled for Wednesday, November 28, 2018, from 2:00 p.m. to 3:30 p.m. Eastern Time. www.fdic.gov/news/news/financial/2018/fil18073.html November 16, 2018 - Federal Reserve Board approves fee schedule for Federal Reserve Bank priced services - The Federal Reserve Board on Friday announced the approval of fee schedules, effective January 2, 2019, for payment services the Federal Reserve Banks provide to depository institutions. www.federalreserve.gov/newsevents/pressreleases/other20181116a.htm November 16, 2018 - The Effects of the Ability-to-Repay / Qualified Mortgage Rule on Mortgage Lending - Aurel Hizmo and Shane Sherlund - The Ability-to-Repay / Qualified Mortgage rule, which is part of the post-crisis mortgage reforms created by the Dodd-Frank Wall Street Reform and Consumer Protection Act, requires lenders to consider a borrower's ability to repay the mortgage loan before extending credit. www.federalreserve.gov/econres/notes/feds-notes/effects-of-the-ability-to-repay-qualified-mortgage-rule-on-mortgage-lending-20181116.htm November 16, 2018 - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm November 16, 2018 - Speech by Vice Chairman for Supervision Randal K. Quarles - Beginning Stress Testing�s New Chapter - At "An International Perspective on the Future of Bank Stress Testing" Symposium sponsored by Harvard Law School Program on International Financial Systems, Cambridge, Massachusetts www.federalreserve.gov/newsevents/speech/quarles20181116a.htm November 16, 2018 - National Settlement Service, Quarterly data updates - The average daily volume and average daily value of transfers are based on the number of business days in each period. www.federalreserve.gov/paymentsystems/natl_data.htm November 16, 2018 - Fedwire Securities Services, Quarterly data updates - The average daily volume and average daily value of transfers are based on the number of business days in each period. www.federalreserve.gov/paymentsystems/fedsecs_data.htm November 16, 2018 - Industrial Production and Capacity Utilization - - Industrial production edged up 0.1 percent in October, as a gain for manufacturing outweighed decreases elsewhere. As a result of upward revisions primarily in mining, the overall index is now reported to have advanced at an annual rate of 4.7 percent in the third quarter, appreciably above the gain of 3.3 percent reported initially. www.federalreserve.gov/releases/g17/Current/default.htm November 16, 2018 - Federal Reserve Board approves fee schedule for Federal Reserve Bank priced services - The Federal Reserve Board on Friday announced the approval of fee schedules, effective January 2, 2019, for payment services the Federal Reserve Banks provide to depository institutions. www.federalreserve.gov/newsevents/pressreleases/other20181116a.htm November 15, 2018 - Emergency Collateral Upgrades - Mark A. Carlson and Marco Macchiavelli - During the 2008-09 financial crisis, the Federal Reserve established two emergency facilities for broker-dealers. One provided collateralized loans. www.federalreserve.gov/econres/feds/files/2018078pap.pdf November 15, 2018 - Federal and state financial regulatory agencies issue interagency statement on supervisory practices regarding financial institutions and their customers affected by California wildfires - The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the California Department of Business Oversight recognize the serious impact of the California wildfires on the customers, members, and operations of many financial institutions and will provide appropriate regulatory assistance to affected institutions subject to their supervision. Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20181115b.htm Press Release: www.ncua.gov/newsroom/Pages/news-2018-nov-interagency-statement-supervisory-practices-california-wildfires.aspx Press Release: www.fdic.gov/news/news/press/2018/pr18085.html Press Release: www.occ.gov/news-issuances/news-releases/2018/nr-ia-2018-122.html November 15, 2018 - Federal Reserve Board approves final amendments to simplify Regulation J and to make it conform more closely with Regulation CC - The Federal Reserve Board on Thursday approved final amendments to simplify Regulation J (Collection of Checks and Other Items by Federal Reserve Banks and Funds Transfers through Fedwire) and to make it conform more closely with Regulation CC (Availability of Funds and Collection of Checks). Press Release: Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20181115a.htm Press Release: www.federalreserve.gov/recentpostings.htm ________________________ November 15, 2018 - OCC Enforcement Actions and Terminations for November 2018 - 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/2018/nr-occ-2018-121.html November 15, 2018 - St. Louis Fed Ag Survey: Economic Conditions Deteriorate More Than Expected in the Third Quarter - Eighth District agricultural bankers reported that farm income had declined and that farm household spending and capital expenditures remained below levels compared with a year ago, according to the latest Agricultural Finance Monitor published by the Federal Reserve Bank of St. Louis. www.stlouisfed.org/news-releases/2018/11/15/st-louis-fed-ag-survey-economic-conditions-deteriorate-more-than-expected-in-the-third-quarter November 15, 2018 - Federal Reserve to review strategies, tools, and communication practices it uses to pursue its mandate of maximum employment and price stability - The Federal Reserve next year will review the strategies, tools, and communication practices it uses to pursue its congressionally-assigned mandate of maximum employment and price stability. www.federalreserve.gov/newsevents/pressreleases/monetary20181115a.htm November 15, 2018 - NCUA - Board Approves 2019-2020 Budgets - The National Credit Union Administration Board held its tenth open meeting of 2018 at the agency�s headquarters today and unanimously approved two items: www.ncua.gov/newsroom/Pages/news-2018-nov-board-approves-2019-2020-budgets.aspx November 14, 2018 - Comptroller of the Currency Discusses Condition of the U.S. Banking System - Comptroller of the Currency Joseph M. Otting today discussed the condition of the U.S. federal banking system during a speech in Tokyo. www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-120.html November 14, 2018 - U.S. and Oklahoma Economic Outlook By Chad Wilkerson Oklahoma City Branch Executive and Economist - Broken Arrow Chamber Presentation. www.kansascityfed.org/~/media/files/publicat/speeches/2018/2018-wilkerson-broken-arrow-chamber-11-18.pdf November 14, 2018 - FDIC Releases 2018 Version of Money Smart for Adults - The FDIC today released the 2018 version of its popular instructor-led Money Smart for Adults financial education curriculum. Instructors can use the fully scripted materials with minimal preparation to deliver unbiased, relevant, and accurate financial education. www.fdic.gov/news/news/press/2018/pr18083.html November 14, 2018 - FDIC Requests Information on Small-Dollar Lending - The Federal Deposit Insurance Corporation today announced that it is seeking public comment on issues related to small-dollar lending by FDIC-supervised financial institutions. www.fdic.gov/news/news/press/2018/pr18084.html November 14, 2018 - Structure Data for U.S. Banking Offices of Foreign Entities. www.federalreserve.gov/releases/iba/201806/default.htm November 14, 2018 - Intercorporate Equity Holdings in the Financial Accounts of the United States - Joseph Briggs and Hannah Hall - Nonfinancial corporations often invest in other corporations by purchasing equity. Such investments might reflect private or public equity purchases, and might be made for strategic reasons or as passive investments. www.federalreserve.gov/econres/notes/feds-notes/intercorporate-equity-holdings-in-the-financial-accounts-of-the-united-states-20181114.htm November 14, 2018 - Rural Affordable Rental Housing: Quantifying Need, Reviewing Recent Federal Support, and Assessing the Use of Low Income Housing Tax Credits in Rural Areas - Andrew M. Dumont - Recently, there has been significant interest in the high levels of rental cost burden being experienced across the United States. www.federalreserve.gov/econres/feds/files/2018077pap.pdf November 14, 2018 - The Non-Bank Credit Cycle - Esti Kemp, Ren� van Stralen, Alexandros Vardoulakis, and Peter Wierts - We investigate the cyclical properties of non-bank credit and its relevance for financial stability. www.federalreserve.gov/econres/feds/files/2018076pap.pdf November 14, 2018 - Selective Sovereign Defaults - Aitor Erce and Enrico Mallucci - Governments issue debt both domestically and abroad. This heterogeneity introduces the possibility for governments to operate selective defaults that discriminate across investors. www.federalreserve.gov/econres/ifdp/files/ifdp1239.pdf November 14, 2018 - Measuring the Implementation of the FSB Key Attributes of Effective Resolution Regimes for Financial Institutions in the European Union - Nicholas Coleman, Andromachi Georgosouli, and Tara Rice - There are lingering concerns about the health of European banks and extensive market commentary about whether post-crisis regulatory reforms in Europe have adequately addressed these concerns. www.federalreserve.gov/econres/ifdp/files/ifdp1238.pdf November 14, 2018 - Testimony by Vice Chairman for Supervision Randal K. Quarles Before the Committee on Financial Services, U.S. House of Representatives, Washington, D.C. www.federalreserve.gov/newsevents/testimony/quarles20181114a.htm November 14, 2018 - On the U.S. Firm and Establishment Size Distributions - Illenin O. Kondo, Logan T. Lewis, and Andrea Stella - This paper revisits the empirical evidence on the nature of firm and establishment size distributions in the United States using the Longitudinal Business Database, a confidential Census Bureau panel of all non-farm private firms and establishments with at least one employee. www.federalreserve.gov/econres/feds/files/2018075pap.pdf November 14, 2018 - Senior Loan Officer Opinion Survey on Bank Lending Practices - The October 2018 Senior Loan Officer Opinion Survey on Bank Lending Practices addressed changes in the standards and terms on, and demand for, bank loans to businesses and households over the past three months, which generally corresponds to the third quarter of 2018. www.federalreserve.gov/data/sloos/sloos-201810.htm November 13, 2018 - Bridging Between Policymakers� and Economists� Views on Bubbles By Gadi Barlevy - The policy debate over bubbles concerns the question of what policymakers should do when faced with a rapid increase in asset prices that does not coincide with corresponding changes in the value of the dividends these assets are expected to pay out. www.chicagofed.org/publications/economic-perspectives/2018/4 November 13, 2018 - Why Does the Yield-Curve Slope Predict Recessions? By Luca Benzoni , Olena Chyruk , David Kelley - Many studies document the predictive power of the slope of the Treasury yield curve for forecasting recessions. www.chicagofed.org/publications/chicago-fed-letter/2018/404 November 13, 2018 - OCC Enforcement Actions: OCC Enforcement Action Policies and Procedures Manuals - The Office of the Comptroller of the Currency issued today its Policies and Procedures Manual for enforcement actions against institution-affiliated parties of national banks, federal savings associations, and federal branches and agencies of foreign banks. www.occ.treas.gov/news-issuances/bulletins/2018/bulletin-2018-41.html November 13, 2018 - OCC Allows National Banks and Federal Savings Associations Affected by California Wildfires to Close - The Office of the Comptroller of the Currency today issued a proclamation allowing national banks, federal savings associations, and federal branches and agencies of foreign banks affected by wildfires and high winds in California to close. www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-119.html November 13, 2018 - U.S. and Oklahoma Economic Outlook - Tulsa Risk Management Association - Chad Wilkerson Oklahoma City Branch Executive and Economist. www.kansascityfed.org/~/media/files/publicat/speeches/2018/2018-wilkerson-tulsa-rma11-18.pdf November 13, 2018 - Testimony by Vice Chairman for Supervision Randal K. Quarles Before the Committee on Financial Services, U.S. House of Representatives, Washington, D.C. www.federalreserve.gov/newsevents/testimony/quarles20181114a.htm November 13, 2018 - Senior Loan Officer Opinion Survey on Bank Lending Practices - The October 2018 Senior Loan Officer Opinion Survey on Bank Lending Practices addressed changes in the standards and terms on, and demand for, bank loans to businesses and households over the past three months, which generally corresponds to the third quarter of 2018. www.federalreserve.gov/data/sloos/sloos-201810.htm November 13, 2018 - Speech by Governor Lael Brainard on what we are learning about artificial intelligence in financial services At Fintech and the New Financial Landscape, Philadelphia, Pennsylvania. www.federalreserve.gov/newsevents/speech/brainard20181113a.htm November 13, 2018 - Federal Reserve Board issues enforcement action with The First State Bank of Dongola. www.federalreserve.gov/newsevents/pressreleases/enforcement20181113a.htm November 9, 2018 - NCUA Observes Veterans Day 2018 - National Credit Union Administration Board Chairman J. Mark McWatters and Board Member Rick Metsger today issued statements on the eve of the 2018 observance of Veterans Day. www.ncua.gov/newsroom/Pages/news-2018-nov-ncua-observes-veterans-day.aspx November 9, 2018 - Credit and Liquidity Programs and the Balance Sheet - 0Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm November 9, 2018 - Publications - Supervision and Regulation report - The report summarizes banking conditions and the Federal Reserve�s supervisory and regulatory activities, in conjunction with semiannual testimony before Congress by the Vice Chairman for Supervision. www.federalreserve.gov/publications/supervision-and-regulation-report.htm November 9, 2018 - Speech by Vice Chairman for Supervision Quarles on a new chapter in stress testing At the Brookings Institution, Washington, D.C. www.federalreserve.gov/newsevents/speech/quarles20181109a.htm November 9, 2018 - Federal Reserve Board on November 28 intends to begin publishing semiannual report presenting Board's assessment of financial stability conditions. www.federalreserve.gov/newsevents/pressreleases/bcreg20181109a.htm November 8, 2018 - The OCC's Mutual Savings Association Advisory Committee Charter Renewed - The Office of the Comptroller of the Currency has renewed the charter of its Mutual Savings Association Advisory Committee, which advises the agency on issues and opportunities facing mutual savings institutions. www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-118.html _______________________ November 8, 2018 - The OCC's Mutual Savings Association Advisory Committee Charter Renewed - The Office of the Comptroller of the Currency has renewed the charter of its Mutual Savings Association Advisory Committee, which advises the agency on issues and opportunities facing mutual savings institutions. www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-118.html November 8, 2018 - Guidance to Help Financial Institutions and Facilitate Recovery in Areas of the Northern Mariana Islands Affected by Super Typhoon Yutu - The FDIC announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of the Northern Mariana Islands affected by Super Typhoon Yutu. www.fdic.gov/news/news/financial/2018/fil18069.html November 8, 2018 - 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 7, 2018 and continued at 9:00 a.m. on November 8, 2018. Matter(s) considered: Discussion of Monetary Policy Issues. www.federalreserve.gov/aboutthefed/boardmeetings/20181107closed.htm November 8, 2018 - 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 strong rate. www.federalreserve.gov/newsevents/pressreleases/monetary20181108a.htm November 7, 2018 - Statistical Release - Consumer Credit - G.19 - "Consumer credit increased at a seasonally adjusted annual rate of 5-1/4 percent during the third quarter. Revolving credit increased at an annual rate of 2 percent, while nonrevolving credit increased at an annual rate of 6-1/2 percent. In September, consumer credit increased at an annual rate of 3-1/4 percent." www.federalreserve.gov/releases/g19/current/default.htm November 7, 2018 - Agencies issue proposal to streamline regulatory reporting for qualifying small institutions - The three federal banking agencies today invited public comment on a proposal to reduce regulatory reporting burden on small institutions by expanding the number of regulated institutions eligible for streamlined reporting. Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20181107a.htm Press Release: www.fdic.gov/news/news/press/2018/pr18082.html Press Release: www.occ.gov/news-issuances/news-releases/2018/nr-ia-2018-117.html November 6, 2018 - Kansas City Fed announces winners of annual Code-A-Thon - UCM named Back-to-Back Champions, CSU Pueblo awarded second place - The Federal Reserve Bank of Kansas City announced today that the University of Central Missouri team, Mules 2, was awarded first place in the third annual Kansas City Fed Code-A-Thon. www.kansascityfed.org/~/media/files/publicat/newsroom/2018/codeathonwinnerfinaldocx.pdf November 6, 2018 - Federal Reserve Board to publish inaugural Supervision and Regulation Report on November 9 - The Federal Reserve Board on November 9 at 12:00 p.m. EST will publish its inaugural Supervision and Regulation Report, which will summarize current banking system conditions and the Board's recent supervisory and regulatory actions. www.federalreserve.gov/newsevents/pressreleases/bcreg20181106a.htm November 6, 2018 - Federal Reserve Board announces termination of enforcement action with McHenry Bancorp, Inc. www.federalreserve.gov/newsevents/pressreleases/enforcement20181106a.htm November 5, 2018 - Cybersecurity: Cyber-Related Sanctions - The Federal Financial Institutions Examination Council, on behalf of its members, has issued a statement to alert financial institutions of the recent actions taken by the U.S. Department of the Treasury�s Office of Foreign Assets Control under OFAC�s Cyber-Related Sanctions Program and to the potential impact similar sanctions may have on financial institutions� operations. www.occ.treas.gov/news-issuances/bulletins/2018/bulletin-2018-40.html November 5, 2018 - The Federal Financial Institutions Examination Council members issued a joint statement alerting financial institutions to recent actions taken by the Department of Treasury�s Office of Foreign Asset Control under their Cyber-Related Sanctions Program and to the potential impact it may have on financial institutions� risk-management programs. www.ffiec.gov/press/pr110518.htm November 5, 2018 - FDIC Issues List of Banks Examined for CRA Compliance - The Federal Deposit Insurance Corporation today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act. The list covers evaluation ratings that the FDIC assigned to institutions in August 2018. www.fdic.gov/news/news/press/2018/pr18081.html November 5, 2018 - 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 7, 2018. Matter(s) considered: Discussion of Monetary Policy Issues. www.federalreserve.gov/aboutthefed/boardmeetings/20181107closed.htm November 2, 2018 - Federal Reserve Board finalizes new supervisory rating system for large financial institutions - The Federal Reserve Board on Friday finalized a new supervisory rating system for large financial institutions that is aligned with the core areas most important to supporting a large firm's safety and soundness and U.S. financial stability. www.federalreserve.gov/newsevents/pressreleases/bcreg20181102a.htm November 2, 2018 - FOIA - Chairman Powell's calendar, September 2018. www.federalreserve.gov/foia/chairmanscalendar-092018.htm November 2, 2018 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm November 2, 2018 - Legal Interpretations - Bank Holding Company Act, July 6, 2018. www.federalreserve.gov/supervisionreg/legalinterpretations/bhc_changeincontrol2018.htm November 2, 2018 - Federal Reserve Board finalizes new supervisory rating system for large financial institutions - The Federal Reserve Board on Friday finalized a new supervisory rating system for large financial institutions that is aligned with the core areas most important to supporting a large firm's safety and soundness and U.S. financial stability. www.federalreserve.gov/newsevents/pressreleases/bcreg20181102a.htm ______________________ November 1, 2018 - OCC Releases CRA Evaluations for 37 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 1, 2018 through October 31, 2018. www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-116.html November 1, 2018 - Modifications to the Statement of Policy for Section 19 of the Federal Deposit Insurance Act - The FDIC issued modifications to its Statement of Policy for Section 19 of the Federal Deposit Insurance Act. Section 19 prohibits, without the prior written consent of the FDIC, a person convicted of any criminal offense involving dishonesty, breach of trust, money laundering, or who has entered into a pretrial diversion or similar program in connection with a prosecution for such offense, from participating in the affairs of an FDIC-insured institution. www.fdic.gov/news/news/financial/2018/fil18068.html November 1, 2018 - Closed Board Meeting on November 1, 2018 - On Thursday, November 1, 2018 at 10:15 a.m., a meeting of the Board of Governors of the Federal Reserve System was held under expedited procedures, as set forth in section 261b.7 of the Board's Rules Regarding Public Observation of Meetings, at the Board's offices at 20th Street and C Streets, N.W., Washington, D.C., to consider the following matters of official Board business. www.federalreserve.gov/aboutthefed/boardmeetings/20181101closed.htm November 1, 2018 - Statistical Release - Foreign Exchange Rates - G.5 - The table below shows the average rates of exchange in OCTOBER 2018 together with comparable figures for other months. www.federalreserve.gov/releases/g5/current/default.htm |
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