The E-mail Banking News
(Bank Regulatory News)
October 2014

FYI - Don't forget to follow me on LinkedIn at https://www.linkedin.com/in/yennik where I post a weekly question on IT security/audit.

October 31, 2014 - Index shows Midwest growth remained above average in September The Midwest Economy Index (MEI) was, on balance, unchanged at +0.51 in September, and remained above average for the sixth straight month. The relative MEI moved up to +0.36 in September from +0.13 in August.   http://chicagofed.org/digital_assets/publications/mei/2014/mei_september2014.pdf

October 31, 2014 - NCUA Issues Prohibition Orders - The National Credit Union Administration has issued three orders in October prohibiting the following individuals from participating in the affairs of any federally insured financial institution: www.ncua.gov/News/Pages/NW20141031Orders.aspx

October 31, 2014 - FDIC Makes Public September Enforcement Actions; - One Administrative Hearing Scheduled for November 2014 - The Federal Deposit Insurance Corporation today released a list of orders of administrative enforcement actions taken against banks and individuals in September.  www.fdic.gov/news/news/press/2014/pr14092.html 

October 31, 2014 - An Empirical Analysis of Futures Margin Changes: Determinants and Policy Implications - Nicole Abruzzo and Yang-Ho Park - Margin regulation raises two policy concerns. First, an alignment of margins to volatility can amplify procyclicality, leading to a build-up of excess leverage in good times and a forced deleverage in bad times.   www.federalreserve.gov/econresdata/feds/2014/files/201486pap.pdf

October 31, 2014 - Bank Liquidity and Capital Regulation in General Equilibrium - Francisco Covas and John C. Driscoll - Abstract: We develop a nonlinear dynamic general equilibrium model with a banking sector and use it to study the macroeconomic impact of introducing a minimum liquidity standard for banks on top of existing capital adequacy requirements. www.federalreserve.gov/econresdata/feds/2014/files/201485pap.pdf

October 31, 2014 - Financial Frictions, Financial Shocks, and Aggregate Volatility - Cristina Fuentes-Albero- Abstract: I revisit the Great Inflation and the Great Moderation. I document an immoderation in corporate balance sheet variables so that the Great Moderation is best described as a period of divergent patterns in volatilities for real, nominal and financial variables. www.federalreserve.gov/econresdata/feds/2014/files/201484pap.pdf

October 31, 2014 - Generating Options-Implied Probability Densities to Understand Oil Market Events - We investigate the informational content of options-implied probability density functions for the future price of oil.   www.federalreserve.gov/econresdata/ifdp/2014/index.htm#1

October 31, 2014 - Banks, Capital Flows and Financial Crises - This paper proposes a macroeconomic model with financial intermediaries (banks), in which banks face occasionally binding leverage constraints and may endogenously affect the strength of their balance sheets by issuing new equity.  www.federalreserve.gov/econresdata/ifdp/2014/files/ifdp1121.pdf

October 31, 2014 - Introducing Actuarial Liabilities and Funding Status of Defined-Benefit Pensions in the U.S. Financial Accounts - Irina Stefanescu and Ivan Vidangos - Last year, in its September 2013 release, the Financial Accounts of the United States (formerly known as Flow of Funds accounts) changed the treatment of defined-benefit (DB) pensions from a cash accounting basis to an accrual accounting basis. www.federalreserve.gov/econresdata/notes/feds-notes/2014/introducing-actuarial-liabilities-funding-status-defined-benefit-pensions-us-financial-accounts-20141031.html

October 30, 2014 - Chair Janet L. Yellen - Welcoming Remarks - At the National Summit on Diversity in the Economics Profession, Washington, D.C. www.federalreserve.gov/newsevents/speech/yellen20141030a.htm

October 30, 2014 - Stress Tests and Capital Planning - 2015 Severely Adverse Market Shocks and Adverse Market Shocks.   www.federalreserve.gov/bankinforeg/ccar.htm

October 30, 2014 - St. Louis Fed Releases New and Improved Free Digital Library - The Federal Reserve Bank of St. Louis has launched a new and improved version of its digital library of economic, financial and banking materials and has also made its content available to a broader audience through inclusion in the Digital Public Library of America www.stlouisfed.org/newsroom/displayNews.cfm?article=2356

October 30, 2014 - Financial Market Stress Declines for First Time in Eight Weeks - The St. Louis Fed Financial Stress Index fell markedly in the latest reporting week, nearly offsetting the previous week’s sharp increase.  www.stlouisfed.org/newsroom/displayNews.cfm?article=2354

October 30, 2014 - OCC Revises Process for Managing Matters Requiring Attention - The Office of the Comptroller of the Currency (OCC) today published revised policy and procedures for how it manages Matters Requiring Attention resulting from its examination of supervised institutions. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-150.html 
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October 29, 2014 - Understanding Trends in State Revenue Sharing with Local Governments in Michigan - Martin Lavelle - Over the past few years, discretionary cutbacks in state revenue sharing, as well as other related fiscal and economic factors, have led to budgetary challenges for local governments across the country, including those in Michigan.   www.chicagofed.org/digital_assets/publications/chicago_fed_letter/2014/cfldecember2014_329.pdf

October 29, 2014 - NCUA - Registration for NCUA Loan Portfolio Webinar Still Open - ​Learn More about Loan Products, Pricing, Underwriting and Collections - There is still time to register for the National Credit Union Administration’s Nov. 19 webinar, “Building a Loan Portfolio: Four Keys to Lending,” hosted by NCUA’s Office of Small Credit Union Initiatives. www.ncua.gov/News/Pages/NW20141029Webinar.aspx

October 29, 2014 - Office of the Comptroller of the Currency Hosts Workshop in Phoenix - The Office of the Comptroller of the Currency will host a workshop in Phoenix at the Embassy Suites Phoenix-Scottsdale, Dec. 1-3, for directors of national community banks and federal savings associations. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-149.html

October 29, 2014 - OCC Hosts Mutual Savings Association Advisory Committee - The Office of the Comptroller of the Currency today announced it will host a public meeting of the Mutual Savings Association Advisory Committee on Tuesday, November 18, 2014 in Washington, D.C. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-148.html

October 29, 2014 - 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/2014/nr-occ-2014-147.html

October 29, 2014 - FDIC Releases National Survey of Unbanked and Underbanked - Unbanked Households Decline to 9.6 Million - The Federal Deposit Insurance Corporation today released the results of the 2013 FDIC National Survey of Unbanked and Underbanked Households, the most comprehensive survey on the subject in the United States.  www.fdic.gov/news/news/press/2014/pr14091.html

October 29, 2014 - FOMC press conference - Watch the press conference with FOMC Chair, Janet L. Yellen. www.federalreserve.gov/newsevents/default.htm

October 29, 2014 - Federal Reserve issues FOMC statement - Information received since the Federal Open Market Committee met in September suggests that economic activity is expanding at a moderate pace. Labor market conditions improved somewhat further, with solid job gains and a lower unemployment rate. www.federalreserve.gov/newsevents/press/monetary/20141029a.htm 

Deputy Comptroller Discusses Credit Risks - Deputy Comptroller for Supervision Risk Management Darrin Benhart discussed auto and home equity lending risks, and consumer debt sales in remarks before the Financial Services Collections and Credit Risk Conference. www.occ.gov/news-issuances/speeches/2014/pub-speech-2014-146.pdf

October 28, 2014 - Loan Growth Doubles in Community Banks and Thrifts in the Northeastern District, OCC Reports - The Office of the Comptroller of the Currency today reported improving conditions among community national banks and federal savings associations supervised by the OCC’s Northeastern District that stretches from Maine to South Carolina. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-145.html

October 28 2014 - Federal Reserve Board issues final rule to amend Regulation HH and Payment System Risk policy - The Federal Reserve Board on Tuesday issued a final rule that amends the Regulation HH risk-management standards for financial market utilities that have been designated as systemically important by the Financial Stability Oversight Council and for which the Board has standard-setting authority pursuant to Title VIII of the Dodd-Frank Wall Street Reform and Consumer Protection Act. www.federalreserve.gov/newsevents/press/other/20141028a.htm

October 28, 2014 - Federal Reserve Board issues enforcement actions with Centennial Bank and Bank of Texas.   www.federalreserve.gov/newsevents/press/enforcement/20141028a.htm

October 27, 2014 - NCUA Board Sets 2015 Meeting Schedule - The National Credit Union Administration Board today released its monthly meeting schedule for 2015. Open Board meetings are scheduled to begin at 10 a.m. Eastern on the following dates: www.ncua.gov/News/Pages/NW20141027BoardSchedule.aspx

October 27 2014 - Darrin Benhart and Bethany Dugan Named to Deputy Comptroller Posts - The Office of the Comptroller of the Currency announced two appointments today, naming Darrin Benhart Deputy Comptroller for Supervision Risk Management and Bethany Dugan Deputy Comptroller for Operational Risk. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-144.html

October 27, 2014 - FDIC Advisory Committee Meets to discuss Unbanked/Underbanked Survey, Safe Banking Products and Bank On 2.0 - The Federal Deposit Insurance Corporation Advisory Committee on Economic Inclusion will meet on Wednesday, October 29, to discuss the results from the 2013 National Survey of Unbanked and Underbanked Households, which will be released later that day.  www.fdic.gov/news/news/press/2014/pr14090.html

October 27, 2014 - Notice of a Meeting under Expedited Procedures - Was held on Monday, October 27, 2014. Matter considered: Review and determination by the Board of Governors of the advance and discount rates to be charged by the Federal Reserve Banks. www.federalreserve.gov/aboutthefed/boardmeetings/20141027exp.htm

October 24 2014 - NCUA - Annual Federal Employee Survey Gives NCUA High Marks - National Credit Union Administration employees report strong levels of job satisfaction, and the agency ranks highly compared to its peers, according to the 2014 Federal Employee Viewpoint Survey. www.ncua.gov/News/Pages/NW20141024Survey.aspx

October 24, 2014 - Advanced Notice of a Meeting under Expedited Procedures - Will be held on October 28, 2014. Discussion of Medium-Term Monetary Policy Issues. - It is anticipated that the closed meeting of the Board of Governors of the Federal Reserve System at 1:00 PM on Tuesday, October 28, 2014, will be held under expedited procedures, as set forth in section 26lb.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. The following items of official Board business are tentatively scheduled to be considered at that meeting. www.federalreserve.gov/aboutthefed/boardmeetings/20141028advexp.htm

October 24, 2014 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

October 24 2014 - Update to Reports Pursuant to Section 129 of the Emergency Economic Stabilization Act.   www.federalreserve.gov/monetarypolicy/bst_reports.htm

October 24, 2014 - Agencies request comment on proposed flood insurance rule - Five federal regulatory agencies today announced the approval of a joint notice of proposed rulemaking to amend regulations pertaining to loans secured by property located in special flood hazard areas.
HFIAA Press Release: www.federalreserve.gov/newsevents/press/bcreg/20141024a.htm
Press Rrlease: www.fdic.gov/news/news/press/2014/pr14088.html
Press Release: www.occ.gov/news-issuances/news-releases/2014/nr-ia-2014-142.html
Press Release: www.ncua.gov/News/Pages/NW20141024FloodInsuranceRule.aspx
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October 23, 2014 - Economic Growth Picked Up in September - The Chicago Fed National Activity Index was +0.47 in September, up from –0.25 in August. - Led by improvements in production-related indicators, the Chicago Fed National Activity Index rose to +0.47 in September from –0.25 in August.  http://chicagofed.org/digital_assets/publications/cfnai/2014/cfnai_october2014.pdf

October 23, 2014 - OCC Releases Dodd-Frank Stress Test Scenarios for 2015 - The Office of the Comptroller of the Currency released economic and financial market scenarios that will be used in the next round of stress tests for large financial institutions.  www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-141.html

October 23, 2014 - New Museum at the St. Louis Fed Takes Visitors Inside the Economy - The Federal Reserve Bank of St. Louis has opened the doors of its historic downtown building to welcome the public to its new Inside the Economy™ Museum.   www.stlouisfed.org/newsroom/displayNews.cfm?article=2349

October 23 2014 - Financial Market Stress Rises for Seventh Consecutive Week - The St. Louis Fed Financial Stress Index rose sharply in the latest reporting week. For the week ending Oct. 17, 2014, the STLFSI measured -0.827, up from the previous week’s value of -1.068. The most recent change (0.241 percentage points) was significant—nearly two standard deviations in magnitude. www.stlouisfed.org/newsroom/displayNews.cfm?article=2350

October 23, 2014 - FDIC Releases Economic Scenarios for 2015 Stress Testing - The Federal Deposit Insurance Corporation today released the economic scenarios that will be used by certain financial institutions with total consolidated assets of more than $10 billion for stress tests required under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. www.fdic.gov/news/news/press/2014/pr14087.html

October 23, 2014 - Advanced Notice of a Meeting under Expedited Procedures - Will be held on October 27, 2014. Review and determination by the Board of Governors of the advance and discount rates to be charged by the Federal Reserve Banks. www.federalreserve.gov/aboutthefed/boardmeetings/20141027advexp.htm

October 23 2014 - Federal Reserve Board releases supervisory scenarios for 2015 capital planning and stress testing - The Federal Reserve Board on Thursday issued the supervisory scenarios that will be used in the 2015 capital planning and stress testing program.  http://www.federalreserve.gov/newsevents/press/bcreg/20141023a.htm

October 23, 2014 - Federal Reserve Board announces termination of enforcement action with BOV Holding Company.   www.federalreserve.gov/newsevents/press/enforcement/20141023a.htm

October 23, 2014 - NCUA - October 2014 Board Meeting: No Share Insurance Fund Premium for 2014 - The National Credit Union Administration Board convened its ninth scheduled open meeting of 2014 at the agency’s headquarters here today.  www.ncua.gov/about/Pages/Board%20Actions/BAB20141023.aspx

October 22, 2014 - NCUA - 44 Credit Unions Agree to Second-Quarter Late-Filing Penalties - All 44 credit unions subject to civil money penalties for the late filing of their second-quarter Call Reports have consented to those penalties, the National Credit Union Administration announced today.   www.ncua.gov/News/Pages/NW20141022LateFilers.aspx

October 22 2014 - Six Federal Agencies Jointly Approve Final Risk Retention Rule - Six federal agencies approved a final rule requiring sponsors of securitization transactions to retain risk in those transactions. The final rule implements the risk retention requirements in the Dodd-Frank Wall Street Reform and Consumer Protection Act. 
Press Release: www.federalreserve.gov/newsevents/press/bcreg/20141022a.htm
Press Release: www.fdic.gov/news/news/press/2014/pr14086.html
Press Release: www.occ.gov/news-issuances/news-releases/2014/nr-ia-2014-140.html

October 22, 2014 - Federal Reserve organizes second Financial Education Day - The Federal Reserve Board and Reserve Banks organized more than two dozen events for high school students and teachers across the country on Wednesday as part of the second Federal Reserve Financial Education Day. www.federalreserve.gov/newsevents/press/other/20141022a.htm

October 22, 2014 - Farm Income’s Impact on the Midwest - In a recent blog posting, Chicago Fed's David Oppedahl previews a Federal Reserve Bank of Chicago conference to be held on November 17, 2014, that will examine the role of farm income in the Midwest economy. http://midwest.chicagofedblogs.org/?p=2237

October 21, 2014 - Register for Infrastructure and Economic Growth Conference - Join us on November 3 at this event that will examine what is known about the value of infrastructure investments based on recent research and explore funding models. www.chicagofed.org/webpages/events/2014/infrastructure-economic-growth-measuring.cfm

October 21, 2014 - NCUA - October NCUA Report Now Available - The National Credit Union Administration announced today the October 2014 issue of The NCUA Report is now available online. www.ncua.gov/News/Pages/NW20141021NCUAReport.aspx

October 21, 2014 - Comptroller Makes Statement on the Dodd-Frank Act Credit Risk Retention Final Rule - Comptroller of the Currency Thomas J. Curry today discussed the Dodd-Frank Act Credit Risk Retention Final Rule at a meeting of the Board of Directors of the Federal Deposit Insurance Corporation.
Statement: www.occ.gov/news-issuances/speeches/2014/pub-speech-2014-139.pdf
Final Rule: www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-139b.pdf

October 20, 2014 - Governor Daniel K. Tarullo - Good Compliance, Not Mere Compliance - At the Federal Reserve Bank of New York Conference, "Reforming Culture and Behavior in the Financial Services Industry", New York, New York.   www.federalreserve.gov/newsevents/speech/tarullo20141020a.htm

October 20, 2014 - Governor Jerome H. Powell - Opening Remarks At the Webinar on Community Banking, Washington, D.C. www.federalreserve.gov/newsevents/speech/powell20141020a.htm

October 17, 2014 - NCUA - Jones Joins NCUA as Chief Financial Officer - National Credit Union Administration Board Chairman Debbie Matz today announced the selection of Rendell Jones as the agency’s Chief Financial Officer. www.ncua.gov/News/Pages/NW20141017Jones.aspx

October 17, 2014 - OCC Enforcement Actions - The Office of the Comptroller of the Currency today released new enforcement actions taken against national banks, federal savings associations, and individuals currently and formerly affiliated with national banks and federal savings associations.   www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-138.html

October 17, 2014 - Kansas City Fed tool helps families and small businesses prepare for disasters - Disasters strike families and businesses every day. Locating and gathering important financial documents and information in the weeks and months following a flood, fire, tornado or other disaster can be a frustrating process. www.kc.frb.org/publicat/newsroom/2014pdf/Press.Release.09.17.14.pdf

October 17, 2014 - Howard Bank, Ellicott City, Maryland, Assumes All of the Deposits of NBRS Financial, Rising Sun, Maryland - NBRS Financial, Rising Sun, Maryland, was closed today by the Maryland Office of the Commissioner of Financial Regulation, which appointed the Federal Deposit Insurance Corporation as receiver.  www.fdic.gov/news/news/press/2014/pr14085.html

October 17, 2014 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

October 17, 2014 - Chair Janet L. Yellen - Perspectives on Inequality and Opportunity from the Survey of Consumer Finances
At the Conference on Economic Opportunity and Inequality, Federal Reserve Bank of Boston, Boston, Massachusetts.   www.federalreserve.gov/newsevents/speech/yellen20141017a.htm

October 17, 2014 - Minutes of the Federal Open Market Committee - September 16-17, 2014 - A meeting of the Federal Open Market Committee was held in the offices of the Board of Governors of the Federal Reserve System in Washington, D.C., on Tuesday, September 16, 2014, at 11:00 a.m. and continued on Wednesday, September 17, 2014, at 9:00 a.m. www.federalreserve.gov/monetarypolicy/fomcminutes20140917.htm

October 17, 2014 - Federal Reserve Board approves application by Central Bank of Audrain County - The Federal Reserve Board on Friday announced its approval of the applications under section 18(c) of the Federal Deposit Insurance Act and section 9 of the Federal Reserve Act by Central Bank of Audrain County, Mexico, Missouri, to acquire the Vandalia, Missouri branch of First State Community Bank, Farmington, Missouri, and to establish a branch at the location of the Vandalia, Missouri branch. www.federalreserve.gov/newsevents/press/orders/orders20141017a1.pdf

October 17, 2014 - Federal Reserve Board issues final rule to modify regulations for capital planning and stress testing and released instructions for 2015 capital planning cycle.  www.federalreserve.gov/newsevents/press/bcreg/20141017a.htm
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October 16, 2014 - Currency today published the latest edition of its Insights report, titled “Community Development Loan Funds: Partnership Opportunities for Banks.” www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-137.html 

October 16, 2014 - Tom Tofte Named Senior National Bank Examiner - The Office of the Comptroller of the Currency today announced that it had designated Tom Tofte a Senior National Bank Examiner. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-136.html

October 16, 2014 - Financial Market Stress Rises for Sixth Consecutive Week - For the week ending Oct. 10, 2014, the St. Louis Fed Financial Stress Index measured -1.065. The index rose for the sixth consecutive week and is at its highest level since the week ending Oct. 18, 2013. www.stlouisfed.org/newsroom/displayNews.cfm?article=2343

October 16, 2014 - Legal Interpretations - Bank Holding Companies/Savings and Loan Holding Companies/Change in Control 2014 Letters.   www.federalreserve.gov/bankinforeg/LegalInterpretations/bhc_changeincontrol2014.htm

October 16, 2014 - The Federal Reserve's Tools for Policy Normalization in a Preferred Habitat Model of Financial Markets - Jim Clouse, Jane Ihrig, Elizabeth Klee, and Han Chen - This paper develops a model of the financial system that provides a framework for analyzing monetary policy implementation in a world with multiple Federal Reserve liabilities and a superabundant supply of reserves. www.federalreserve.gov/econresdata/feds/2014/files/201483pap.pdf

October 16, 2014 - Auto Sales and Credit Supply - Kathleen W. Johnson, Karen M. Pence, and Daniel J. Vine - Vehicle purchases fell by more than 20 percent during the 2007-09 recession, and auto loan originations fell by a third. We show that vehicle purchases typically account for an outsized share of the contraction in economic activity during a recession, in part because a concurrent tightening in auto lending conditions makes car purchases less affordable for many households. www.federalreserve.gov/econresdata/feds/2014/files/201482pap.pdf

October 16, 2014 - Why Are Wal-Mart and Target Next-Door Neighbors? - Jenny Schuetz - One of the most notable changes in the U.S. retail market over the past twenty years has been the rise of Big Box stores, retail chains characterized by physically large stores selling a wide range of consumer goods at discount prices.  www.federalreserve.gov/econresdata/feds/2014/files/201481pap.pdf

October 16 2014 - NCUA - OCC Insights Report Highlights Bank Partnerships with Community Development Loan Funds - The Office of the Comptroller of the Matz: International Credit Union Day a Reminder of Global Opportunities, Threats - National Credit Union Administration Board Chairman Debbie Matz said the 67th International Credit Union Day is a reminder that the financial services marketplace has become a global network, presenting opportunities but also challenges in terms of protecting credit unions and their members. www.ncua.gov/News/Pages/NW20141016InternationalCUDay.aspx

October 15, 2014 - Metsger: Credit Union Directors Are the System’s “First Line of Defense” - Board Vice Chairman Discusses Fraud, Regulatory Relief and Risk-Based Capital - Credit union board members who are informed and engaged help protect their credit unions, members and the credit union system, National Credit Union Administration Board Vice Chairman Rick Metsger said today. www.ncua.gov/News/Pages/NW20141015Metsger.aspx

October 15, 2014 - NCUA - Feds Feed Families Recognizes NCUA - ​NCUA Executive among Top Three Contributors in Entire Federal Government - The U.S. Agriculture Department today acknowledged the National Credit Union Administration’s contribution to the annual Feds Feed Families food drive by recognizing Todd M. Harper, NCUA’s Director of Public and Congressional Affairs, as one of the top three individual contributors among all federal employees nationwide. www.ncua.gov/News/Pages/NW20141015FFF.aspx

October 15, 2014 - NCUA Will Join Fair Lending Webinar Hosted by the Federal Reserve Board - Credit Unions Can Obtain Valuable Information on a Range of Fair Lending Issues - Credit unions will be able to get valuable information on compliance with fair lending laws from a Federal Reserve Board webinar, “Fair Lending Hot Topics,” scheduled for Wednesday, Oct. 22, 2014, beginning at 2 p.m. Eastern. www.ncua.gov/News/Pages/NW20141015FRBWebinar.aspx

October 15, 2014 - Listen to St. Louis Fed Economist Discuss the October Beige Book - The St. Louis Fed has released audio highlights of the Federal Reserve's latest Beige Book, released on Oct. 15, 2014. The sound clips summarize economic conditions for the United States as a whole, as well as for the Fed's Eighth District, based in St. Louis. www.stlouisfed.org/newsroom/displayNews.cfm?article=2342

October 15, 2014 - Beige Book - Informal review by the Federal Reserve Banks of current economic conditions in their Districts.   www.federalreserve.gov/monetarypolicy/beigebook/default.htm

October 15 2014 - Notice of Open Board Meeting - Will be held on October 22, 2014. Final Credit Risk Retention Rule under Section 941 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. www.federalreserve.gov/aboutthefed/boardmeetings/20141022open.htm

October 15, 2014 - Student Loans and Homeownership Trends - Alvaro Mezza, Kamila Sommer, and Shane Sherlund - The increases in student loan debt and delinquencies over the past few years have raised concerns about whether heavy student loan debt burdens are making it more difficult for young households to become homeowners. www.federalreserve.gov/econresdata/notes/feds-notes/2014/student-loans-and-homeownership-trends-20141015.html

October 15, 2014 - Federal Reserve announces results of offering of seven-day term deposits on October 14.   www.federalreserve.gov/newsevents/press/monetary/20141015a.htm

October 14, 2014 - Office of the Comptroller of the Currency Hosts Risk Workshops in Massachusetts - The Office of the Comptroller of the Currency will host two workshops in Newton, Mass., at the Boston Marriott Newton, Nov. 18-19, for directors of national community banks and federal savings associations. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-135.html

October 14, 2014 - Identifying the Stance of Monetary Policy at the Zero Lower Bound: A Markov-switching Estimation Exploiting Monetary-Fiscal Policy Interdependence - Manuel Gonzalez-Astudillo - In this paper, I propose an econometric technique to estimate a Markov-switching Taylor rule subject to the zero lower bound of interest rates. www.federalreserve.gov/econresdata/feds/2014/files/201481pap.pdf

October 2014 - Returning to the Nest: Debt and Parental Co-residence Among Young Adults - Lisa J. Dettling and Joanne W. Hsu - This paper examines the relationship between a young adults' debt burden and the decision to co-reside with a parent.  www.federalreserve.gov/econresdata/feds/2014/files/201480pap.pdf

October 14, 2014 - Reconstruction multipliers - Riccardo Trezzi and Francesco Porcelli - A law issued to allocate reconstruction grants following the 2009 "Aquilano" earthquake has resulted in a large and unanticipated discontinuity across municipalities with comparable damages. www.federalreserve.gov/econresdata/feds/2014/files/201479pap.pdf

October 14, 2014 - Residual Seasonality in Core Consumer Price Inflation - Ekaterina Peneva - The past 10 years have typically seen a pattern in which consumer price inflation has tended to be higher in the first half of the year than in the second half.  www.federalreserve.gov/econresdata/notes/feds-notes/2014/residual-seasonality-in-core-consumer-price-inflation-20141014.html

October 14, 2014 - Minutes of the Board's discount rates meetings for August 25 and September 15, 2014.  www.federalreserve.gov/newsevents/press/monetary/20141014a.htm

October 13, 2014 - Fed’s Evans Addresses National Council on Teacher Retirement - Federal Reserve Bank of Chicago President Charles Evans spoke on October 13 during the National Council on Teacher Retirement 92nd Annual Conference in Indianapolis, IN. www.chicagofed.org/webpages/publications/speeches/2014/10-13-14-charles-evans-monetary-policy-normalization-national-council-teacher-retirement.cfm

October 13, 2014 - U.S. and U.K. Officials Meet to Discuss Key Components for the Resolution of a Global Systemically Important Bank - The heads of the Treasuries and leading financial regulatory bodies in the United States and United Kingdom today participated in an exercise designed to further the understanding, communication, and cooperation between U.S. and U.K. authorities in the event of the failure and resolution of a global systemically important bank, or G-SIB. www.fdic.gov/news/news/press/2014/pr14084.html 

October 11, 2014 - Federal Reserve Board and FDIC Welcome ISDA Announcement - The Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation welcome the announcement today by the International Swaps and Derivatives Association of the agreement of a new resolution stay protocol.  www.fdic.gov/news/news/press/2014/pr14083.html

October 11, 2014 - Vice Chairman Stanley Fischer - At the Per Jacobsson Foundation Lecture, 2014 Annual Meetings of the International Monetary Fund and the World Bank Group, Washington, D.C. www.federalreserve.gov/newsevents/speech/fischer20141011a.htm

October 13, 2014 - Federal Reserve Board and FDIC Welcome ISDA Announcement - The Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation welcome the announcement today by the International Swaps and Derivatives Association of the agreement of a new resolution stay protocol. www.federalreserve.gov/newsevents/press/bcreg/20141011a.htm

October 10, 2014 - Advanced Notice of a Meeting under Expedited Procedures - Will be held on October 14, 2014. Periodic Supervisory Update. - It is anticipated that the closed meeting of the Board of Governors of the Federal Reserve System at 3:00 PM on Tuesday, October 14, 2014, will be held under expedited procedures, as set forth in section 26lb.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. www.federalreserve.gov/aboutthefed/boardmeetings/20141014advexp.htm

October 10, 2014 - Basel Coordination Committee Bulletins - BCC 14-2: Guidance Relating to Notifications of Material Changes to Advanced Systems and Modeling Changes - This guidance summarizes supervisory expectations for when and how a banking organization should notify supervisors of material changes to its advanced systems or modeling assumptions (referred to as "model changes") under the advanced approaches risk-based capital rule. www.federalreserve.gov/bankinforeg/basel/files/bcc1402.pdf

October 10, 2014 - Credit and Liquidity Programs and the Balance Sheet - Credit and Liquidity Programs and the Balance Sheet.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm
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October 9, 2014 - OCC Reports Second Quarter Trading Revenue of $6.4 Billion - Insured U.S. commercial banks and savings associations reported trading revenue of $6.4 billion in the second quarter of 2014, up $0.2 billion, or 4 percent, from $6.2 billion in the first quarter, the Office of the Comptroller of the Currency reported today in the OCC’s Quarterly Report on Bank Trading and Derivatives Activities. Trading revenue in the second quarter was $0.7 billion, or 10 percent, lower than the $7.1 billion recorded in the second quarter of 2013. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-134.html

October 9, 2014 - San Francisco Fed President Williams sees Rate Hikes Likely in Mid-2015 - The Federal Reserve will likely lift the federal funds rate in mid-2015, said San Francisco Fed President John C. Williams on Thursday, though that decision is dependent on continued economic improvement and will be “data-driven, not date-driven.”  www.frbsf.org/our-district/press/news-releases/2014/san-francisco-fed-president-williams-sees-rate-hikes-likely-in-mid-2015/

October 9, 2014 - Financial Market Stress Rises for Fifth Consecutive Week - For the week ending Oct. 3, 2014, the St. Louis Fed Financial Stress Index measured -1.087. The index rose for the fifth consecutive week and is at its highest level since the week ending Dec. 6, 2013. www.stlouisfed.org/newsroom/displayNews.cfm?article=2337

October 9, 2014 - The Social Discount Rate in Developing Countries - Missaka Warusawitharana - The "social discount rate" is the interest rate used in cost-benefit analyses of infrastructure and other public projects. As seen from the discussion of the Stern report on climate change (see Stern, 2007, and Nordhaus, 2007), differences in the social discount rate can have substantial implications for evaluating the costs and benefits of public projects. www.federalreserve.gov/econresdata/notes/feds-notes/2014/the-social-discount-rate-in-developing-countries-20141009.html

October 9, 2014 - Federal Reserve Board releases answers to frequently asked questions regarding competitive review process for bank acquisitions, mergers, and other transactions - The FAQs provide answers to questions often raised by banking organizations considering filing applications and explain changes to the application process mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act.  www.federalreserve.gov/newsevents/press/bcreg/20141009a.htm

October 9, 2014 - Federal Reserve offers seven-day term deposits through its Term Deposit Facility - On October 14, 2014, the Federal Reserve will conduct a fixed-rate offering of term deposits through its Term Deposit Facility that will incorporate an early withdrawal feature.  www.federalreserve.gov/newsevents/press/monetary/20141009a.htm

October 9, 2014 - Federal Reserve Board issues termination of enforcement action with First American International Corporation.   www.federalreserve.gov/newsevents/press/enforcement/20141009a.htm

October 8, 2014 - Fed’s Evans Addresses Wisconsin Business, Academic and Community Leaders - Federal Reserve Bank of Chicago President Charles Evans spoke on October 8 during the BMO Harris and Lakeland College economic briefing in Plymouth, Wisc. www.chicagofed.org/webpages/publications/speeches/2014/10-08-14-charles-evans-monetary-policy-normalization-lakeland.cfm

October 8, 2014 - OCC Releases CRA Evaluations for 39 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 September 1, 2014 through September 30, 2014. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-133.html

October 8, 2014 - Banker Teleconference Series - Timely and Comprehensive Information and Insights from the FDIC - Periodically, staff from the FDIC's Division of Depositor and Consumer Protection offers a series of events for bankers, including teleconferences and webinars, to maintain open lines of communication and update bank management and staff on important banking regulatory and emerging issues in the compliance and consumer protection area.  www.fdic.gov/news/news/financial/2014/fil14052.html

October 8, 2014 - Federal Reserve Board announces Community Depository Institutions Advisory Council members for 2015 - The Federal Reserve Board on Wednesday announced the members of its Community Depository Institutions Advisory Council and the president and vice president of the council for 2015. www.federalreserve.gov/newsevents/press/other/20141008b.htm

October 8, 2014 - Federal Reserve Board announces appointment of William English as adviser to the Board in the Office of Board Members - The Federal Reserve Board on Wednesday announced the appointment of William English as adviser to the Board for Monetary Policy in the Office of Board Members.  www.federalreserve.gov/newsevents/press/other/20141008a.htm

October 8, 2014 - Minutes of the Federal Open Market Committee, September 16-17, 2014 - The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on September 16-17, 2014.  www.federalreserve.gov/newsevents/press/monetary/20141008a.htm

October 7, 2014 - Financial Conditions Edge Tighter in Week Ending October 3 - The National Financial Conditions Index (NFCI) increased to –0.85 in the week ending October 3, reaching its highest level in almost a year. www.chicagofed.org/webpages/publications/nfci/index.cfm

October 7, 2014 - FDIC and CFPB Collaborate to Develop a Spanish-language Tool for Older Adults to Prevent Financial Exploitation - The Federal Deposit Insurance Corporation and Consumer Financial Protection Bureau today launched a Spanish-language version of Money Smart for Older Adults.  www.fdic.gov/news/news/press/2014/pr14082.html

October 7, 2014 - Statistical Release - Household Debt Service and Financial Obligations Ratios.  www.federalreserve.gov/releases/housedebt/default.htm

October 7, 2014 - Statistical Release - Consumer Credit - G.19 - In August, consumer credit increased at a seasonally adjusted annual rate of 5 percent. Revolving credit decreased at an annual rate of 1/4 percent, while nonrevolving credit increased at an annual rate of 7 percent.   www.federalreserve.gov/releases/g19/current/

October 7, 2014 - The Impact of Regional and Sectoral Productivity Changes on the U.S. Economy - Lorenzo Caliendo, Fernando Parro, Esteban Rossi-Hansberg, and Pierre-Daniel Sarte - We study the impact of regional and sectoral productivity changes on the U.S. economy.  www.federalreserve.gov/econresdata/ifdp/2014/files/ifdp1119.pdf

October 7, 2014 - Federal Reserve Board issues enforcement action with Fayette County Bank and termination of enforcement actions with First Security Group and South Group Bancshares.  www.federalreserve.gov/newsevents/press/enforcement/enf20141007a1.pdf

October 6, 2014 - Managing Risk in the Recovery - Lamont K. Black, Marshall Eckblad - The Chicago Fed's Supervision and Regulation Department, in conjunction with the Center for Financial Services at DePaul University’s Driehaus College of Business, held the seventh annual Financial Institution Risk Management Conference on April 8–9, 2014.  http://chicagofed.org/digital_assets/publications/chicago_fed_letter/2014/cflnovember2014_328a.pdf

October 6, 2014 - Bryan Day Joins St. Louis Fed’s Transportation Industry Council - Bryan Day, executive director of the Little Rock Port Authority in Little Rock, Ark., has been named to the Transportation Industry Council of the Federal Reserve Bank of St. Louis. www.stlouisfed.org/newsroom/displayNews.cfm?article=2333

October 6, 2014 - Cecil C. (Barney) Barnett Joins St. Louis Fed’s Agribusiness Industry Council - Cecil C. (Barney) Barnett, chairman of Algood Food Company in Louisville, Ky., has been named to the Agribusiness Industry Council of the Federal Reserve Bank of St. Louis. www.stlouisfed.org/newsroom/displayNews.cfm?article=2334

October 6, 2014 - Consolidated Reports of Condition and Income - The Consolidated Reports of Condition and Income for the September 30, 2014, report date must be received by Thursday, October 30, 2014.  www.fdic.gov/news/news/financial/2014/fil14051.html

October 3, 2014 - NCUA - September NCUA Board Meeting Video Now Available Online - The video recording of the September open meeting of the National Credit Union Administration Board is now available on the agency’s website. www.ncua.gov/News/Pages/NW20141003BoardVideo.aspx

October 3, 2014 - Kathy Murphy Named Senior Deputy Comptroller for Management and Chief Financial Officer - Comptroller of the Currency Thomas J. Curry today named Kathy K. Murphy as the agency’s Senior Deputy Comptroller for Management and Chief Financial Officer. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-132.html

October 3, 2014 - Keith Glover of Producers Rice Mill Joins St. Louis Fed’s Little Rock Branch Board - Keith Glover, president and CEO of Producers Rice Mill, Inc. in Stuttgart, Ark., has been appointed to fill the unexpired portion of a three-year term on the board of directors of the Little Rock Branch of the Federal Reserve Bank of St. Louis that ends Dec. 31, 2014, as well as a three year term beginning January 1, 2015 and ending December 31, 2017. www.stlouisfed.org/newsroom/displayNews.cfm?article=2331

October 3, 2014 - FDIC Issues List of Banks Examined for CRA Compliance - The Federal Deposit Insurance Corporation today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act. www.fdic.gov/news/news/press/2014/pr14081.html

October 3, 2014 - Survey of Terms of Business Lending - E.2.  www.federalreserve.gov/releases/e2/Current/default.htm
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October 2, 2014 - Financial Market Stress Rises for Fourth Consecutive Week - The week ending Sept. 26, 2014, was the fourth in a row in which the St. Louis Fed Financial Stress Index rose. The index measured -1.137, remaining at its highest level since the week ending Feb. 7, 2014.  www.stlouisfed.org/newsroom/displayNews.cfm?article=2330

October 2, 2014 - Consolidated Reports of Condition and Income for Third Quarter 2014 - The attached materials pertain to the Consolidated Reports of Condition and Income for the September 30, 2014, report date. www.fdic.gov/news/news/financial/2014/fil14050.html

October 2, 2014 - Advanced Notice of a Meeting under Expedited Procedures - Will be held on October 6, 2014. Review and determination by the Board of Governors of the advance and discount rates to be charged by the Federal Reserve Banks. www.federalreserve.gov/aboutthefed/boardmeetings/20141006advexp.htm

October 2, 2014 - Surveys and Reports - Senior Credit Officer Opinion Survey on Dealer Financing Terms, September 2014.   www.federalreserve.gov/econresdata/files/SCOOS_201409.pdf

October 1, 2014 - Managing Risk in the Recovery - Lamont K. Black, Marshall Eckblad - The Chicago Fed's Supervision and Regulation Department, in conjunction with the Center for Financial Services at DePaul University’s Driehaus College of Business, held the seventh annual Financial Institution Risk Management Conference on April 8–9, 2014.  http://chicagofed.org/digital_assets/publications/chicago_fed_letter/2014/cflnovember2014_328a.pdf

October 1, 2014 - Strengthening Economy Brings Changes in Interest Rate Risk - Strengthening Economy Brings Changes in Interest Rate Risk - ​New Economic Update Video Urges Credit Unions to Prepare for a Rise in Interest Rates.  www.ncua.gov/News/Pages/NW20141001EconomicUpdate.aspx

October 1, 2014 - NCUA: Cyber Security Awareness Month a Reminder of the Persistence of Threats - ​Agency Has Numerous Resources on Regulations, Best Practices - The National Credit Union Administration is reminding credit unions that protecting themselves and their members from cyberattacks remains a priority. www.ncua.gov/News/Pages/NW20141001CyberSecurity.aspx

October 1, 2014 - Comptroller Discusses the Value of Strategic Planning - Comptroller of the Currency Thomas J. Curry today discussed the importance of effective strategic planning with executives of minority-owned depository institutions during his remarks at the National Bankers Association’s national convention. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-131.html

October 1, 2014 - Updating the Labor Market Conditions Index - Hess Chung, Christopher Nekarda, David Ratner - In our recent FEDS Note, Assessing the Change in Labor Market Conditions (May 22, 2014), we introduced a new tool, the labor market conditions index, which we found to be useful for assessing changes in labor market conditions.  www.federalreserve.gov/econresdata/notes/feds-notes/2014/updating-the-labor-market-conditions-index-20141001.html