Bank Regulatory News

October 2009

October30, 2009 - OCC Appoints Receiver for Bank USA, N.A.- The Office of the Comptroller of the Currency today appointed the Federal Deposit Insurance Corporation as receiver for Bank USA, N.A., Phoenix, Arizona. As of June 30, 2009, the Bank had approximately $185 million of total assets. www.occ.treas.gov/ftp/release/2009-129.htm

October30, 2009 - OCC Appoints Receiver for Pacific National Bank - The Office of the Comptroller of the Currency today appointed the Federal Deposit Insurance Corporation as receiver for Pacific National Bank, San Francisco, California. As of June 30, 2009, the Bank had approximately $2.1 billion of total assets. www.occ.treas.gov/ftp/release/2009-130.htm

October30, 2009 - OCC Appoints Receiver for San Diego National Bank - The Office of the Comptroller of the Currency today appointed the Federal Deposit Insurance Corporation as receiver for San Diego National Bank, San Diego, California. As of June 30, 2009, the Bank had approximately $3.4 billion of total assets. www.occ.treas.gov/ftp/release/2009-131.htm 

October30, 2009 - OCC Appoints Receiver for California National Bank - The Office of the Comptroller of the Currency today appointed the Federal Deposit Insurance Corporation as receiver for California National Bank, Los Angeles, California. As of June 30, 2009, the Bank had approximately $7.1 billion in total assets. www.occ.treas.gov/ftp/release/2009-132.htm 

October30, 2009 - OCC Appoints Receiver for Citizens National Bank - The Office of the Comptroller of the Currency today appointed the Federal Deposit Insurance Corporation as receiver for Citizens National Bank, Teague, Texas. As of June 30, 2009, the Bank had approximately $106 million of total assets. www.occ.treas.gov/ftp/release/2009-133.htm
 
October30, 2009 - OCC Appoints Receiver for Park National Bank & Trust - The Office of the Comptroller of the Currency today appointed the Federal Deposit Insurance Corporation as receiver for Park National Bank & Trust, Chicago, Illinois. As of June 30, 2009, the Bank had approximately $4.8 billion of total assets. www.occ.treas.gov/ftp/release/2009-134.htm 

October30, 2009 - U.S. Bank, NA, of Minneapolis, Minnesota, Assumes All of the Deposits of Nine Failed Banks in Arizona, California, Illinois and Texas - The Federal Deposit Insurance Corporation entered into a purchase and assumption agreement with U.S. Bank, NA, of Minneapolis, Minnesota, a wholly-owned subsidiary of U.S. Bancorp, to assume all of the deposits and essentially all of the assets of nine failed banks. The nine banks were closed this evening by federal and state bank regulators, which appointed the FDIC as receiver. www.fdic.gov/news/news/press/2009/pr09195.html

October30, 2009 - The Federal Reserve on Friday adopted a policy statement supporting prudent commercial real estate loan workouts. This policy statement, adopted by each of the financial regulators,1 provides guidance for examiners, and for financial institutions that are working with CRE borrowers who are experiencing diminished operating cash flows, depreciated collateral values, or prolonged delays in selling or renting commercial properties. The financial regulators recognize that prudent loan workouts are often in the best interest of both financial institutions and borrowers, particularly during difficult economic conditions. www.federalreserve.gov/newsevents/press/bcreg/20091030a.htm 

October30, 2009 - The Federal Reserve Board announced Friday that a temporary exemption to the limitations in section 23A of the Federal Reserve Act, instituted as part of the response to the financial crisis, will expire as scheduled on October 30, 2009. www.federalreserve.gov/newsevents/press/bcreg/20091030b.htm 

October30, 2009 - Prudent Commercial Real Estate Loan Workouts - The Federal Reserve, along with the other financial regulators of the Federal Financial Institutions Examination Council,1 has adopted the attached policy statement on Prudent Commercial Real Estate Loan Workouts. The Federal Reserve and the other financial regulators issued this policy statement to update longstanding guidance regarding the workout of CRE loans, especially in light of recent increases in such workouts.
Press Release: www.fdic.gov/news/news/press/2009/pr09194.html 
Press Release: www.federalreserve.gov/boarddocs/srletters/2009/SR0907.htm 
Press Release: www.fdic.gov/news/news/financial/2009/fil09061.html 
Press Release: www.occ.treas.gov/ftp/release/2009-128.htm 
Press Release: www.ots.treas.gov/?p=PressReleases&ContentRecord_id=a6bdce0f-1e0b-8562-eb8a-b6f02515597e&ContentType_id=4c12f337-b5b6-4c87-b45c-838958422bf3 
Press Release: www.ncua.gov/news/press_releases/2009/FFIEC_PR_CRE_Workouts_10-30am.pdf 

October30, 2009 - FDIC Makes Public September Enforcement Actions; One Administrative Hearing Scheduled for November - The Federal Deposit Insurance Corporation today released a list of orders of administrative enforcement actions taken against banks and individuals in September. One administrative hearing is scheduled for November. www.fdic.gov/news/news/press/2009/pr09193.html  

October30, 2009 - St. Louis Fed To Host Conference on Future of Rural Development - The Federal Reserve Bank of St. Louis, along with the University of Missouri Extension and Moberly Area Community College, is hosting a conference on the future of rural development Nov. 6 at Moberly Area Community College in Moberly, Mo. www.stlouisfed.org/newsroom/displayNews.cfm?article=544
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October 29, 2009 - The Federal Reserve Board on Thursday announced the execution of a Written Agreement by and among First Banking Center, Inc., a registered bank holding company, First Banking Center, a state chartered member bank, both of Burlington, Wisconsin, the Federal Reserve Bank of Chicago, and the State of Wisconsin Department of Financial Institutions. www.federalreserve.gov/newsevents/press/enforcement/20091029a.htm 

October 29, 2009 - The Federal Reserve Board on Thursday announced the execution of a Written Agreement by and among West Tennessee Bancshares, Inc., a registered bank holding company, Bank of Bartlett, a state chartered member bank, both of Bartlett, Tennessee, and the Federal Reserve Bank of Saint Louis. www.federalreserve.gov/newsevents/press/enforcement/20091029b.htm 

October 29, 2009 - Governor Daniel K. Tarullo - Regulatory reform - Before the Committee on Financial Services, U.S. House of Representatives, Washington, D.C. www.federalreserve.gov/newsevents/testimony/tarullo20091029a.htm 

October 29, 2009 - St. Louis Fed Analysis: Recession Takes Toll on Region's Tax Revenues - While local governments cope with sharp declines in tax revenues due to the recession, the severity of the decline varies from state to state throughout the Eighth District, according to a recent research report from the Federal Reserve Bank of St. Louis. www.stlouisfed.org/newsroom/displayNews.cfm?article=543 

October 29, 2009 - Comptroller Dugan Testifies on Financial Reform - Comptroller of the Currency John C. Dugan testified today before the House Financial Services Committee on proposed financial reform legislation. www.occ.treas.gov/ftp/release/2009-127.htm 

October 29, 2009 - NCUA - Second Baptist Church Credit Union Members Now Served by Prosperity Federal Credit Union - Member Accounts are Safe and Federally Insured - The National Credit Union Administration was appointed liquidating agent of the Second Baptist Church Credit Union of Los Angeles by the California Department of Financial Institutions on October 28, 2009. www.ncua.gov/news/press_releases/2009/MR09-1029.htm 

October 28, 2009 - The Federal Reserve Board on Wednesday announced the execution of a Written Agreement by and among Cascade Bancorp, Bend, Oregon, a registered bank holding company, the Federal Reserve Bank of San Francisco, and the State of Oregon, Department of Consumer and Business Services, Division of Finance and Corporate Securities. www.federalreserve.gov/newsevents/press/enforcement/20091028a.htm 

October 28, 2009 - The Federal Reserve Board on Wednesday announced the execution of a Written Agreement by and between EvergreenBancorp, Inc., Seattle, Washington, a registered bank holding company, and the Federal Reserve Bank of San Francisco. www.federalreserve.gov/newsevents/press/enforcement/20091028b.htm 

October 28, 2009 - Interest on Required Balances and Excess Balances - The Federal Reserve Banks pay interest on required reserve balances--balances held at Reserve Banks to satisfy reserve requirements--and on excess balances--balances held in excess of required reserve balances and contractual clearing balances. The Board of Governors has prescribed rules governing the payment of interest by Federal Reserve Banks in Regulation D.   www.federalreserve.gov/monetarypolicy/reqresbalances.htm 

October 28, 2009 - Reynolds Joins St. Louis Fed's Transportation Industry Council - Roger Reynolds, president and CEO of Reynolds Group LLC in Louisville, Ky., has joined the Transportation Industry Council of the Federal Reserve Bank of St. Louis. www.stlouisfed.org/newsroom/displayNews.cfm?article=541 

October 28, 2009 - OCC Working Paper 2009-5 - "Correlation in Credit Risk," by Xiaoling Pu and Xinlei Zhao - Observable risk factors cannot fully explain correlation in credit risk. Further, the correlation is cyclical and higher among firms with low credit ratings. www.occ.treas.gov/ftp/workpaper/wp2009-5.pdf

October 27, 2009 - The Federal Reserve Board on Tuesday announced the execution of the following Written Agreements: Written Agreement by and between Ogden BancShares, Inc., Boone, Iowa, a registered bank holding company, and the Federal Reserve Bank of Chicago; Written Agreement by and among Ames Community Bank, Ames, Iowa, a state chartered member bank, the Federal Reserve of Chicago, and the Iowa Division of Banking, Superintendent of Banking; and a Written Agreement by and among VisionBank of Iowa, West Des Moines, Iowa, a state chartered member bank, the Federal Reserve of Chicago, and the Iowa Division of Banking, Superintendent of Banking. Ames Community Bank and VisionBank of Iowa are depository institution subsidiaries of Ogden Bancshares, Inc. www.federalreserve.gov/newsevents/press/enforcement/20091027a.htm 

October 27, 2009 - The Federal Reserve Board on Tuesday announced the issuance of a consent Prompt Corrective Action Directive against SolutionsBank, Overland Park, Kansas, a state chartered member bank. www.federalreserve.gov/newsevents/press/enforcement/20091027b.htm 

October 27, 2009 - Legal Interpretations - Federal Reserve Act, April 3, 2009.   www.federalreserve.gov/boarddocs/legalint/federalreserveact/2009/20090403/20090403.pdf 

October 27, 2009 - Economic Teamwork: A Candid Regional Economic Outlook for 2010 - The recession has affected all aspects of Kentucky's economy. What is the economic outlook for 2010 of the nation and the region? St. Louis Fed, University of Kentucky and University of Louisville economists will examine the factors that will shape the economic wellbeing of the nation, the Commonwealth and the region in 2010. www.stlouisfed.org/newsroom/displayNews.cfm?article=538 

October 27, 2009 - NCUA- Hyland to Host Member Business Lending Webinar - National Credit Union Administration Board Member Gigi Hyland will host a webinar on Wednesday, November 18, 2009 entitled "Member Business Lending: Regulators' Perspective." The webinar will begin at 1:00 p.m. EST and end at 2:30 p.m. EST. The webinar will be free and open to the public. www.ncua.gov/news/press_releases/2009/MA09-1027.htm

October 26, 2009 - Statistical Release - G.20 Finance Companies.   www.federalreserve.gov/releases/g20/current/ 

October 26, 2009 - Economic Activity Approaching Pre-recessionary Levels - The Chicago Fed National Activity Index was -0.81 in September, down from -0.65 in August. www.chicagofed.org/economic_research_and_data/files/cfnai_october2009.pdf 

October 26, 2009 - Midwest Manufacturing Output Increased in September - The Chicago Fed Midwest Manufacturing Index increased 1.0% in September, to a seasonally adjusted level of 82.3. www.chicagofed.org/economic_research_and_data/files/cfmmi_september_2009.pdf 

October 23, 2009 - NCUA - First Delta Federal Credit Union Placed Into Conservatorship - The credit union is open, operating and serving its members - The National Credit Union Administration today assumed control of operations at First Delta Federal Credit Union of Marks, Mississippi. NCUA's goal is to continue credit union service to the members and ensure safe and sound credit union operations. www.ncua.gov/news/press_releases/2009/MR09-1023.htm 

October 23, 2009 - OCC Appoints Receiver for Flagship National Bank - The Office of the Comptroller of the Currency today appointed the Federal Deposit Insurance Corporation as receiver for Flagship National Bank, Bradenton, Florida. As of June 30, 2009, the bank had approximately $194 million of total assets. www.occ.treas.gov/ftp/release/2009-126.htm 

October 23, 2009 - First Midwest Bank, Itasca, Illinois, Assumes All of the Deposits of First Dupage Bank, Westmont, Illinois - First Dupage Bank, Westmont, Illinois, was closed today by the Illinois Department of Financial & Professional Regulation - Division of Banking, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with First Midwest Bank, Itasca, Illinois, to assume all of the deposits of First Dupage Bank. www.fdic.gov/news/news/press/2009/pr09192.html 

October 23, 2009 - Central Bank, Stillwater, Minnesota, Assumes All of the Deposits of Riverview Community Bank, Otsego, Minnesota - Riverview Community Bank, Otsego, Minnesota, was closed today by the Minnesota Department of Commerce, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Central Bank, Stillwater, Minnesota, to assume all of the deposits of Riverview Community Bank. www.fdic.gov/news/news/press/2009/pr09191.html 

October 23, 2009 - Tri City National Bank, Oak Creek, Wisconsin, Assumes All of the Deposits of Bank of Elmwood, Racine, Wisconsin - Bank of Elmwood, Racine, Wisconsin, was closed today by the Wisconsin Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Tri City National Bank, Oak Creek, Wisconsin, to assume all of the deposits of Bank of Elmwood. www.fdic.gov/news/news/press/2009/pr09190.html 

October 23, 2009 - First Federal Bank of Florida, Lake City, Florida, Assumes All of the Deposits of Flagship National Bank, Bradenton, Florida - Flagship National Bank, Bradenton, Florida, was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with First Federal Bank of Florida, Lake City, Florida, to assume all of the deposits of Flagship National Bank. www.fdic.gov/news/news/press/2009/pr09189.html 

October 23, 2009 - Stonegate Bank, Fort Lauderdale, Florida, Assumes All of The Deposits of Hillcrest Bank Florida, Naples, Florida - Hillcrest Bank Florida, Naples, Florida, was closed today by the Florida Office of Financial Regulation, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Stonegate Bank, Fort Lauderdale, Florida, to assume all of the deposits of Hillcrest Bank Florida. www.fdic.gov/news/news/press/2009/pr09188.html 

October 23, 2009 - Ameris Bank, Moultrie, Georgia, Assumes All of the Deposits of American United Bank, Lawrenceville, Georgia - American United Bank, Lawrenceville, Georgia, was closed today by the Georgia Department of Banking & Finance, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Ameris Bank, Moultrie, Georgia, to assume all of the deposits of American United Bank. www.fdic.gov/news/news/press/2009/pr09187.html 

October 23, 2009 - Federal Reserve releases monthly report on credit and liquidity programs and the balance sheet.   www.federalreserve.gov/monetarypolicy/bst_reports.htm 

October 23, 2009 - Chairman Ben S. Bernanke - Financial Regulation and Supervision after the Crisis: The Role of the Federal Reserve - At the Federal Reserve Bank of Boston 54th Economic Conference, Chatham, Massachusetts.  www.federalreserve.gov/newsevents/speech/bernanke20091023a.htm 

October 23, 2009 - Vice Chairman Donald L. Kohn - International Perspective on the Crisis and Response - At the Federal Reserve Bank of Boston 54th Economic Conference, Chatham, Massachusetts.   www.federalreserve.gov/newsevents/speech/kohn20091023a.htm 

October 23, 2009 - Stonegate Bank, Fort Lauderdale, Florida, Assumes All of the Deposits of Partners Bank, Naples, Florida - Partners Bank, Naples, Florida, was closed today by the Office of Thrift Supervision, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Stonegate Bank, Fort Lauderdale, Florida, to assume all of the deposits of Partners Bank. www.fdic.gov/news/news/press/2009/pr09186.html 

October 23, 2009 - St. Louis Fed Announces Collegiate Contest for Best Economic Concept YouTube Video - The Federal Reserve Bank of St. Louis' Economic Education group is sponsoring its first-ever YouTube contest for college students. The Bank is seeking online videos that illustrate one or more of these three economic concepts for a high school audience: www.stlouisfed.org/newsroom/displayNews.cfm?article=536 

October 23, 2009 - OTS Closes Partners Bank and Appoints FDIC Receiver - The Office of Thrift Supervision today closed Partners Bank of Naples, Florida, and appointed the Federal Deposit Insurance Corporation as receiver. www.ots.treas.gov/?p=PressReleases&ContentRecord_id=82e320e9-1e0b-8562-eb53-065a49ea8d49&ContentType_id=4c12f337-b5b6-4c87-b45c-838958422bf3 

October 23, 2009 - Consumers Warned about Fraudulent Solicitations - Consumers were recently warned about fraudulent solicitations that appear to be made with the approval of the Federal Reserve or Federal Reserve officials. www.federalreserve.gov/newsevents/press/other/20090826a.htm  _________________________

October 22, 2009 - The Federal Reserve Board on Thursday issued a proposal designed to ensure that the incentive compensation policies of banking organizations do not undermine the safety and soundness of their organizations. www.federalreserve.gov/newsevents/press/bcreg/20091022a.htm 

October 22, 2009 - St. Louis Fed, University of Missouri Issue Call for Papers for 2010 Missouri Economics Conference - The Federal Reserve Bank of St. Louis and the University of Missouri are issuing a call for papers for the 10th annual Missouri Economics Conference, which will be held March 26-27, 2010, at the University of Missouri-Columbia. www.stlouisfed.org/newsroom/displayNews.cfm?article=533 

October 22, 2009 - Coming Home to Rural America: Demographic Shifts in the Tenth District.   www.kc.frb.org/pubaffrs/pressrel/2009pdf/press.release.09.22.pdf 

October 22, 2009 - Was Monetary Policy Optimal During Past Deflation Scares? www.kc.frb.org/pubaffrs/pressrel/2009pdf/press.release.09.25.pdf 

October 22, 2009 - Beyond Inflation Targeting: Should Central Banks Target the Price Level? www.kc.frb.org/pubaffrs/pressrel/2009pdf/press.release.09.24.pdf 

October 22, 2009 - How Will Unemployment Fare Following the Recession? www.kc.frb.org/pubaffrs/pressrel/2009pdf/press.release.09.23.pdf 

October 22, 2009 - OCC Announces New Electronic Interpretations and Actions - October 2009 www.occ.treas.gov/interp/oct09/intoct09.htm 

October 22 2009 - Urban Density's Relationship to Productivity - In a blog posting, Chicago Fed economist William Testa examines the role of tall buildings in Chicago's economy. http://midwest.chicagofedblogs.org/archives/2009/10/tall_buildings.html 

October 21, 2009 - Senior Supervisors Group Issues Report on Risk Management Practices - Senior financial supervisors from seven countries today issued a report that evaluates how weaknesses in risk management and internal controls contributed to industry distress during the financial crisis.
Press Release: www.newyorkfed.org/newsevents/news/banking/2009/ma091021.html 
Press Release: www.occ.treas.gov/ftp/release/2009-125.htm 

October 21, 2009 - Governor Daniel K. Tarullo - Confronting Too Big to Fail - At the Exchequer Club, Washington, D.C. www.federalreserve.gov/newsevents/speech/tarullo20091021a.htm 

October 21, 2009 - Beige Book - Informal review by the Federal Reserve Banks of current economic conditions in their Districts.   www.federalreserve.gov/fomc/BeigeBook/2009/20091021/default.htm 

October 21, 2009 - Interest on Required Reserve Balances and Excess Balances - Maintenance period ending October 21, 2009 - The Federal Reserve Banks pay interest on required reserve balances--balances held at Reserve Banks to satisfy reserve requirements--and on excess balances--balances held in excess of required reserve balances and contractual clearing balances. The Board of Governors has prescribed rules governing the payment of interest by Federal Reserve Banks in Regulation D.  www.federalreserve.gov/monetarypolicy/reqresbalances.htm 

October 21, 2009 - St. Louis, Atlanta Feds Grading Education Programs - The Federal Reserve Bank of St. Louis, in partnership with the Federal Reserve Bank of Atlanta, has begun a thorough assessment of the two Reserve banks' economic and financial education efforts. The assessment, which will conclude in 2010, will identify the most effective education programs used by the St. Louis and Atlanta Feds. The results will help optimize the Reserve banks' resources supporting economic and financial education.   www.stlouisfed.org/newsroom/displayNews.cfm?article=522 

October 21, 2009 - St. Louis Fed Analysis: Increasing Political Freedom May Have the Greatest Impact on Reducing Terrorism in the Long Run - While poverty and lack of education are factors in domestic and transnational terrorism, a new survey of research by the Federal Reserve Bank of St. Louis reinforces research that shows that the lack of civil liberties and political rights is a more potent mix for fueling terrorist acts. www.stlouisfed.org/newsroom/displayNews.cfm?article=530 

October 21 2009 - OCC Supports Protect Your Identity Week - The Office of Comptroller of the Currency has joined the public-private coalition that supports the second annual Protect Your Identity Week, an initiative of the National Foundation for Credit Counseling and the Council of Better Business Bureaus. The week-long initiative, October 17 - 24, 2009, brings focus to the PYIW national campaign's Web site and community events aimed at identity theft protection and education. www.occ.treas.gov/ftp/release/2009-124.htm 

October 20, 2009 - On October 19, 2009, the Federal Reserve conducted an auction of $75 billion in 28-day credit through its Term Auction Facility. Following are the results of the auction: www.federalreserve.gov/newsevents/press/monetary/20091020a.htm 

October 20, 2009 - The Federal Reserve Board on Tuesday released the minutes of its discount rate meetings on September 8 and 21, 2009. www.federalreserve.gov/newsevents/press/monetary/20091020b.htm 

October 20 2009 - The Federal Reserve Board on Tuesday announced the appointment of Patrick M. Parkinson as director of the Division of Banking Supervision and Regulation, effective immediately. www.federalreserve.gov/newsevents/press/other/20091020a.htm 

October 20, 2009 - Comptroller of the Currency Hosts Community Bank Directors Workshops in Phoenix, Arizona - The Office of the Comptroller of the Currency will host workshops for national community bank directors in Phoenix at the Wyndham Phoenix, November 17-18, 2009. www.occ.treas.gov/ftp/release/2009-123.htm 

October 19, 2009 - The Federal Reserve Board on Monday announced the execution of a Written Agreement between American Eagle Financial Corporation, Otsego, Minnesota, a registered bank holding company, and the Federal Reserve Bank of Minnesota. www.federalreserve.gov/newsevents/press/enforcement/20091019a.htm 

October 19, 2009 - October 19, 2009, the Federal Reserve will offer $75 billion in 28-day credit through its Term Auction Facility. Additional information regarding the auction is listed below; the auction will be conducted as specified in this announcement, Regulation A, and the terms and conditions of the Term Auction Facility.  www.federalreserve.gov/newsevents/press/monetary/20091019a.htm 

October 19, 2009 - Chairman Ben S. Bernanke - Asia and the Global Financial Crisis - At the Federal Reserve Bank of San Francisco's Conference on Asia and the Global Financial Crisis, Santa Barbara, California.  www.federalreserve.gov/newsevents/speech/bernanke20091019a.htm 

October 16 2009 - Citizens Business Bank, Ontario, California, Assumes All of the Deposits of San Joaquin Bank, Bakersfield, California - San Joaquin Bank, Bakersfield, California, was closed today by the California Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Citizens Business Bank, Ontario, California, to assume all of the deposits of San Joaquin Bank. www.fdic.gov/news/news/press/2009/pr09185.html 

October 16, 2009 - Industrial production and capacity utilization - Industrial production rose 0.7 percent in September after an upwardly revised gain of 1.2 percent in August. For the third quarter as a whole, output advanced at an annual rate of 5.2 percent, the first quarterly gain since the first quarter of 2008 and the largest gain since the first quarter of 2005. Production in manufacturing increased 0.9 percent in September, and the index excluding motor vehicles and parts rose 0.5 percent. www.federalreserve.gov/releases/g17/Current/default.htm 

October 16, 2009 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm 

October 16, 2009 - FDIC's New Advisory Committee on Community Banking Discusses Impact of Financial Crisis on Community Banks - At its first meeting since being established by the FDIC Board in May, the FDIC's Advisory Committee on Community Banking today discussed the impact of the financial crisis on community banks. Other issues addressed were regulatory reform proposals under consideration by Congress and their effect on community banks, the impact of FDIC supervisory proposals on these banks, and community banks' perspectives on funding the FDIC's Deposit Insurance Fund. www.fdic.gov/news/news/press/2009/pr09184.html 

October 16, 2009 - OCC Enforcement Actions - The Office of the Comptroller of the Currency today released new enforcement actions taken against national banks and individuals currently and formerly affiliated with national banks. www.occ.treas.gov/ftp/release/2009-122.htm 

October 16 2009 - NCUA - Matz Sets Corporate Meeting; Capital, Rulemaking on Agenda Scheduled for November 5 at NCUA Headquarters - National Credit Union Administration Chairman Debbie Matz today scheduled a specially focused meeting on November 5 at 2 p.m. to discuss the status of corporate credit unions' capital accounts and other issues related to corporate credit unions. www.ncua.gov/news/press_releases/2009/MR09-1016.htm
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October 15, 2009 - Education's Role in China's Structural Transformation - Soohyung Lee and Benjamin A. Malin - We explore education's role in improving the allocation of labor between China's agricultural and nonagricultural sectors and measure the portion of China's recent growth attributable to this channel. www.federalreserve.gov/pubs/feds/2009/200941/index.html 

October 15, 2009 - OCC Releases CRA Evaluations For 24 National Banks - 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 September 15, 2009 through October 14, 2009. www.occ.treas.gov/ftp/release/2009-121.htm 

October 15, 2009 - NCUA -Virtual Town Hall Set for October 22 - National Credit Union Administration Chairman Debbie Matz will host a Town Hall Webinar Thursday, October 22 at 3 p.m. The session is free and open to all interested parties. www.ncua.gov/news/press_releases/2009/MA09-1015.htm 

October 14, 2009 - The Federal Reserve Board on Wednesday announced the execution of a Written Agreement by and among BOI Financial Corporation, a registered bank holding company, Bank of Illinois, a state chartered member bank, both of Normal, Illinois, and the Federal Reserve Bank of Chicago. www.federalreserve.gov/newsevents/press/enforcement/20091014a.htm 

October 14, 2009 - The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on September 22-23, 2009. www.federalreserve.gov/newsevents/press/monetary/20091014a.htm 

October 14, 2009 - Governor Daniel K. Tarullo - State of the banking industry - Before the Subcommittee on Financial Institutions, Committee on Banking, Housing, and Urban Affairs, U.S. Senate, Washington, D.C. www.federalreserve.gov/newsevents/testimony/tarullo20091014a.htm 

October 14, 2009 - Credit Card Redlining Revisited - Kenneth P. Brevoort - Using a proprietary dataset of credit bureau records, Cohen-Cole (2008) finds that banks set credit limits on revolving accounts based in part on the racial composition of the neighborhood in which each borrower resides. www.federalreserve.gov/pubs/feds/2009/200939/index.html 

October 14 2009 - Bayesian Analysis of Stochastic Volatility Models with Lévy Jumps: Application to Risk Analysis - Pawel J. Szerszen - In this paper I analyze a broad class of continuous-time jump diffusion models of asset returns. www.federalreserve.gov/pubs/feds/2009/200940/index.html 

October 14, 2009 - Did Easy Money in the Dollar Bloc Fuel the Global Commodity Boom? - Christopher Erceg, Luca Guerrieri, and Steven B. Kamin - Among the various explanations for the runup in oil and commodity prices of recent years, one story focuses on the role of monetary policy in the United States and in developing economies www.federalreserve.gov/pubs/ifdp/2009/979/ifdp979.htm 

October 14, 2009 - Comptroller Dugan Tells Senate Panel National Banks Have Capacity to Withstand Declining Asset Quality - Comptroller of the Currency John C. Dugan told a Senate subcommittee today that while credit quality is continuing to worsen, the vast majority of national banks are strong and have the financial capacity to withstand declining asset quality. www.occ.treas.gov/ftp/release/2009-120.htm 

October 14, 2009 - NCUA - Matz Tells Senators of NCUA's Efforts to Protect Credit Union Members, Mitigate Risks - Chairman Testifies to Senate Banking Subcommittee - National Credit Union Administration Chairman Debbie Matz today told the Senate Banking, Housing and Urban Affairs Subcommittee on Financial Institutions that stress in the financial sector has translated into challenging times, but she is confident that the credit union industry will weather the storm. www.ncua.gov/news/press_releases/2009/MA09-1014.htm 

October 13, 2009 - The Federal Reserve Board on Tuesday announced the execution of a Written Agreement by and between CBR Holdings, Inc., Chicago, Illinois, a registered bank holding company, and the Federal Reserve Bank of Chicago. www.federalreserve.gov/newsevents/press/enforcement/20091013a.htm 

October 13, 2009 - Vice Chairman Donald L. Kohn - The Economic Outlook - At the National Association for Business Economics, St. Louis, Missouri. www.federalreserve.gov/newsevents/speech/kohn20091013a.htm 

October 13, 2009 - It's More than a Man-cession: The Real Demographics of Recession - WHAT: New St. Louis Fed research debunks the popular notion that the current recession is predominantly a "man-cession" - a recession hurting American males proportionately more than women and other demographic groups. www.stlouisfed.org/newsroom/displayNews.cfm?article=525 

October 9, 2009 - The Federal Reserve Board on Friday announced the annual indexing of the reserve requirement exemption amount and of the low reserve tranche for 2010. These amounts are used in the calculation of reserve requirements of depository institutions. www.federalreserve.gov/newsevents/press/bcreg/20091009a.htm 

October 9, 2009 - Financial Market Utilities and the Challenge of Just-in-Time Liquidity - Chicago Fed Letter examines payment flow mechanisms in financial markets. www.chicagofed.org/publications/fedletter/cflnovember2009_268a.pdf 

October 9, 2009 - Vice Chairman Donald L. Kohn - Monetary Policy Research and the Financial Crisis: Strengths and Shortcomings - At the Federal Reserve Conference on Key Developments in Monetary Policy, Washington, D.C. http://www.federalreserve.gov/newsevents/speech/kohn20091009a.htm 

October 8, 2009 - Chairman Ben S. Bernanke - The Federal Reserve's Balance Sheet: An Update - At the Federal Reserve Board Conference on Key Developments in Monetary Policy, Washington, D.C. http://www.federalreserve.gov/newsevents/speech/bernanke20091008a.htm    ______________

October 7, 2009 - The Federal Reserve Board on Thursday approved amendments to Appendix A of Regulation CC that reflect the restructuring of the Federal Reserve Banks' check-processing operations, and provided notice relating to future changes to the regulation. www.federalreserve.gov/newsevents/press/bcreg/20091008a.htm 

October 7, 2009 - Governor Daniel K. Tarullo - In the Wake of the Crisis - At the Phoenix Metropolitan Area Community Leaders' Luncheon, Phoenix, Arizona www.federalreserve.gov/newsevents/speech/tarullo20091008a.htm 

October 7, 2009 - Federal Reserve Bank of Kansas City Announces Office Promotion, Other changes.   www.kc.frb.org/pubaffrs/pressrel/2009pdf/press.release.09.21.pdf 

October 7, 2009 - Statistical Release - G.19 Consumer Credit - Consumer credit decreased at an annual rate of 5-3/4 percent in August 2009. Revolving credit decreased at an annual rate of 13 percent, and nonrevolving credit decreased at an annual rate of 1-1/2 percent. www.federalreserve.gov/releases/g19/Current/ 

October 7, 2009 - The Federal Reserve Banks pay interest on required reserve balances--balances held at Reserve Banks to satisfy reserve requirements--and on excess balances--balances held in excess of required reserve balances and contractual clearing balances. The Board of Governors has prescribed rules governing the payment of interest by Federal Reserve Banks in Regulation D.  www.federalreserve.gov/monetarypolicy/reqresbalances.htm 

October 7, 2009 - Corus Bank Assets - Winning Bidder Announced - The Federal Deposit Insurance Corporation has signed a bid confirmation letter to sell a 40 percent equity interest in a limited liability company created to hold assets of Corus Bank, NA, Chicago, Illinois, to a consortium managed by Starwood Capital Group that also includes TPG Capital, Perry Capital and WLR LeFrak. www.fdic.gov/news/news/press/2009/pr09183.html 

October 6, 2009 - The Federal Reserve Board on Tuesday announced the issuance of a consent Order of Assessment of a Civil Money Penalty against Wellington State Bank, Wellington, Texas, a state member bank. Wellington State Bank, without admitting to any allegations, consented to the issuance of the Order in connection with its alleged violations of the Board's regulations implementing the National Flood Insurance Act. www.federalreserve.gov/newsevents/press/enforcement/20091006a.htm 

October 6, 2009 - The Federal Reserve Board on Tuesday announced the execution of a Written Agreement by and between Eurobancshares, Inc., San Juan, Puerto Rico, a registered bank holding company, and the Federal Reserve Bank of New York. www.federalreserve.gov/newsevents/press/enforcement/20091006b.htm 

October 6, 2009 - The Federal Reserve conducted an auction of $50 billion in 70-day credit through its Term Auction Facility. Following are the results of the auction: www.federalreserve.gov/newsevents/press/monetary/20091006a.htm 

October 6, 2009 - Profitwise News and Views Now Online - Latest issue examines trends in renewable energy and environmentally focused development for the Midwest region. - The theme of this special edition of Profitwise News and Views is the "green economy" and the ramifications of new trends in renewable energy and environmentally focused development for the Midwest region. www.chicagofed.org/community_development/files/PNV_Oct2009_SpEd_web.pdf 

October 5, 2009 - The Federal Reserve Board on Monday announced the issuance of a consent Prompt Corrective Action Directive against San Joaquin Bank, Bakersfield, California, a state chartered member bank. www.federalreserve.gov/newsevents/press/enforcement/20091005a.htm 

October 5, 2009 - The Federal Reserve will offer $50 billion in 70-day credit through its Term Auction Facility. Additional information regarding the auction is listed below; the auction will be conducted as specified in this announcement, Regulation A, and the terms and conditions of the Term Auction Facility.  www.federalreserve.gov/newsevents/press/monetary/20091005a.htm 

October 5, 2009 - The Federal Reserve Board on Monday announced two changes to the procedures for evaluating asset-backed securities pledged to the Term Asset-Backed Securities Loan Facility. The TALF, which was authorized by the Board on November 24, 2008, helps market participants meet the credit needs of households and businesses by lending to investors in highly rated ABS and commercial mortgage-backed securities. www.federalreserve.gov/newsevents/press/monetary/20091005b.htm 

October 5, 2009 - The Federal Reserve Board announced Monday that the Consumer Advisory Council will hold its next meeting on Thursday, October 22. The meeting will take place in Dining Room E, Terrace Level, in the Board's Martin Building. The session will begin at 9 a.m. and is open to the public. For security purposes, anyone planning to attend the meeting should register no later than Tuesday, October 20, by completing the form found online at: www.federalreserve.gov/newsevents/press/other/20091005a.htm 

October 5, 2009 - Revised Interagency Examination Procedures for the Home Mortgage Disclosure Act - The Task Force on Consumer Compliance of the Federal Financial Institutions Examination Council recently approved the attached updated examination procedures for Regulation C. www.federalreserve.gov/boarddocs/caletters/2009/0910/caltr0910.htm
 
October 5, 2009 - 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 July 2009. www.fdic.gov/news/news/press/2009/pr09182.html 

October 2, 2009 - OCC Appoints Receiver for Southern Colorado National Bank - The Office of the Comptroller of the Currency today appointed the Federal Deposit Insurance Corporation as receiver for Southern Colorado National Bank, Pueblo, Colorado. As of September 2, 2009, the bank had approximately $39 million of total assets. www.occ.treas.gov/ftp/release/2009-119.htm 

October 2, 2009 - Legacy Bank, Wiley, Colorado, Assumes All of the Deposits of Southern Colorado National Bank, Pueblo, Colorado - Southern Colorado National Bank, Pueblo, Colorado, was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Legacy Bank, Wiley, Colorado, to assume all of the deposits of Southern Colorado National Bank. www.fdic.gov/news/news/press/2009/pr09181.html 

October 2, 2009 - Central Bank, Stillwater, Minnesota, Assumes All of the Deposits of Jennings State Bank, Spring Grove, Minnesota - Jennings State Bank, Spring Grove, Minnesota, was closed today by the Minnesota Department of Commerce, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Central Bank, Stillwater, Minnesota, to assume all of the deposits of Jennings State Bank. www.fdic.gov/news/news/press/2009/pr09180.html 

October 2, 2009 - The Huntington National Bank, Columbus, Ohio, Assumes All of the Deposits of Warren Bank, Warren, Michigan - Warren Bank, Warren, Michigan, was closed today by the Michigan Office of Financial and Insurance Regulation, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with The Huntington National Bank, Columbus, Ohio, to assume all of the deposits of Warren Bank. www.fdic.gov/news/news/press/2009/pr09179.html 

October 2, 2009 - October 2, 2009 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm 

October 2, 2009 - Legal Developments - Section 19 Letters, August 17 (2 letters), 25 (3 letters), and 31, 2009.   www.federalreserve.gov/bankinforeg/legaldevelopments/ordersother2009.htm 

October 2, 2009 - New St. Louis Fed Report Shows Today's Recession Not Just a "Man-Cession" - A new St. Louis Fed research report released today debunks the popular notion that the current recession is predominantly a "man-cession"-a recession hurting American males proportionately more than women and other demographic groups. www.stlouisfed.org/newsroom/displayNews.cfm?article=512 
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October 1, 2009 - The Federal Reserve Board on Thursday announced the execution of a Written Agreement by and among Coastal Financial Corporation, a registered bank holding company, Coastal Community Bank, a state chartered member bank, both of Everett, Washington, and the Federal Reserve Bank of San Francisco. www.federalreserve.gov/newsevents/press/enforcement/20091001a.htm 

October 1, 2009 - The Federal Reserve Board on Thursday announced its approval of the proposal by Sandhills Bancshares, Inc. to become a bank holding company and to acquire all the voting shares of TransPecos Banks-Iraan, both of Iraan, Texas. www.federalreserve.gov/newsevents/press/orders/20091001a.htm 

October 1, 2009 - The Federal Reserve Board on Thursday announced its approval of the proposal by Banque Transatlantique, Paris, France, to establish a representative office in New York, New York. www.federalreserve.gov/newsevents/press/orders/20091001b.htm 

October 1, 2009 - Chairman Ben S. Bernanke - Regulatory reform - Before the Committee on Financial Services, U.S. House of Representatives, Washington, D.C. www.federalreserve.gov/newsevents/testimony/bernanke20091001a.htm 

October 1, 2009 - Structure and Share Data for U.S. Banking Offices of Foreign Entities - Data are collected as of the end of the month for March, June, September and December, and generally are released three months later. www.federalreserve.gov/releases/iba/default.htm 

October 1, 2009 - Foreign exchange rates - the table below shows the average rates of exchange in September 2009 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/ 

October 1, 2009 - Regulatory Relief Guidance to Help Financial Institutions and Facilitate Recovery in the Territory of American Samoa, Affected by an Earthquake, Tsunami and Flooding - The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in the territory of American Samoa, where an earthquake, a tsunami and flooding have caused severe property damage and casualties. www.fdic.gov/news/news/financial/2009/fil09060.html 

October 1, 2009 - NCUA - The Members' Own Federal Credit Union Members Now Served by Alaska USA Federal Credit Union - Member Accounts are Safe and Federally Insured - The National Credit Union Administration today liquidated The Members' Own Federal Credit Union of Victorville, California, and accepted Alaska USA Federal Credit Union's offer to purchase and assume the credit union. www.ncua.gov/news/press_releases/2009/MR09-1001a.htm 

October 1, 2009 - NCUA - West Texas Credit Union Closes; Members Now Served by Security Service Federal Credit Union - The National Credit Union Administration announces today that Security Service Federal Credit Union, of San Antonio, Texas, has purchased the assets and assumed the member shares of liquidated West Texas Credit Union of El Paso, Texas. www.ncua.gov/news/press_releases/2009/MR09-1001.htm