Return to the Community Banker Home Page
The E-mail Banking News |
||
October 31, 2019 - NCUA Issues Prohibition Notices and Orders - The National Credit Union Administration issued two prohibition notices in October. These two individuals are prohibited from participating in the affairs of any federally insured financial institution. www.ncua.gov/newsroom/press-release/2019/ncua-issues-prohibition-notices-and-orders-0 October 31, 2019 - 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 11:30 a.m. on November 4, 2019. Matter(s) 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/20191104closed.htm October 31, 2019 - Federal Reserve Board approves actions by the Boards of Directors of the Federal Reserve Banks of Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Louis, Kansas City, and Dallas www.federalreserve.gov/newsevents/pressreleases/monetary20191031a.htm October 31, 2019 - Agencies announce dollar thresholds in Regulations Z and M for exempt consumer credit and lease transactions - The Consumer Financial Protection Bureau and Federal Reserve Board today announced the dollar thresholds in Regulation Z and Regulation M that will apply for determining exempt consumer credit and lease transactions in 2020. www.federalreserve.gov/newsevents/pressreleases/bcreg20191031b.htm October 31, 2019 - Agencies announce threshold for smaller loan exemption from appraisal requirements for higher-priced mortgage loans - The Consumer Financial Protection Bureau, Federal Reserve Board, and Office of the Comptroller of the Currency today announced that the threshold for exempting loans from special appraisal requirements for higher-priced mortgage loans during 2020 will increase from $26,700 to $27,200. Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20191031a.htm Press Release: www.occ.gov/news-issuances/news-releases/2019/nr-ia-2019-127.html _____________________ October 31, 2019 - Midwest Economy Index Points to Slower Growth in September - The Midwest Economy Index moved down to �0.43 in September from �0.36 in August. Contributions to the September MEI from two of the four broad sectors of nonfarm business activity and two of the five Seventh Federal Reserve District states decreased from August. www.chicagofed.org/~/media/publications/mei/2019/mei-september2019-pdf.pdf October 30, 2019 - NCUA - Registration Now Open for NCUA Consumer Financial Protection Webinar - Credit unions can get valuable information about a range of consumer protection topics on a Nov. 19 webinar hosted by the National Credit Union Administration. www.ncua.gov/newsroom/press-release/2019/registration-now-open-ncua-consumer-financial-protection-webinar October 30, 2019 - NCUA - Harper Calls for Dedicated Consumer Compliance Exams of Large Credit Unions - National Credit Union Administration Board Member Todd M. Harper is requesting public comment on his proposal to create a dedicated consumer compliance exam program for large, complex credit unions. www.ncua.gov/newsroom/press-release/2019/harper-calls-dedicated-consumer-compliance-exams-large-credit-unions October 30, 2019 - OCC Allows National Banks and Federal Savings Associations Affected by California Wildfires to Close - In issuing the proclamation, the OCC expects that only those bank offices directly affected by potentially unsafe conditions will close. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-126.html October 30, 2019 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at on October 29, 2019 and continued at 9:00 a.m. on October 30, 2019. Matter(s) considered: Discussion of Monetary Policy Issues. www.federalreserve.gov/aboutthefed/boardmeetings/20191029closed.htm October 30, 2019 - Federal Reserve issues FOMC statement - Information received since the Federal Open Market Committee met in September indicates that the labor market remains strong and that economic activity has been rising at a moderate rate. www.federalreserve.gov/newsevents/pressreleases/monetary20191030a.htm October 29, 2019 - NCUA�s Hood: Credit Unions� �Core Value� Guides NCUA�s Decisions - The National Credit Union Administration is guided by the core value of �people helping people� when it makes decisions, Chairman Rodney E. Hood said yesterday. www.ncua.gov/newsroom/press-release/2019/ncuas-hood-credit-unions-core-value-guides-ncuas-decisions October 29, 2019 - NCUA Posts 2020�2021 Proposed Budget, Sets Nov. 20 Public Briefing - The National Credit Union Administration�s proposed 2020�2021 budget is now available for review and comment. www.ncua.gov/newsroom/press-release/2019/ncua-posts-2020-2021-proposed-budget-sets-nov-20-public-briefing October 29, 2019 - NCUA Chairman Rodney E. Hood Remarks - California and Nevada Credit Union Leagues� 2019 REACH Conference. www.ncua.gov/newsroom/speech/2019/ncua-chairman-rodney-e-hood-remarks-california-and-nevada-credit-union-leagues-2019-reach-conference October 29, 2019 - Consolidated Reports of Condition and Income : Request for Comment on Reporting Data on Loans to Small Businesses and Small Farms in the Call Report. www.occ.gov/news-issuances/bulletins/2019/bulletin-2019-51.html October 29, 2019 - Federal bank regulatory agencies issue final rule to simplify capital calculation for community banks - Federal bank regulatory agencies finalized a rule that simplifies capital requirements for community banks by allowing them to adopt a simple leverage ratio to measure capital adequacy. Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20191029a.htm Press Release: www.fdic.gov/news/news/press/2019/pr19100.html Press Release: www.occ.gov/news-issuances/news-releases/2019/nr-ia-2019-125.html October 28, 2019 - Chicago Fed National Activity Index Points to Slower Economic Growth in September - Led by declines in production-related indicators, the Chicago Fed National Activity Index fell to �0.45 in September from +0.15 in August. www.chicagofed.org/~/media/publications/cfnai/2019/cfnai-october2019-pdf.pdf October 28, 2019 - Agencies finalize changes to resolution plan requirements; keeps requirements for largest firms and reduces requirements for smaller firms - The rule retains resolution plan elements in place for the largest firms, while reducing requirements for smaller firms that pose less risk to the financial system. Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20191028b.htm Press Release: www.fdic.gov/news/news/press/2019/pr19099.html October 28, 2019 - Agencies propose rule to amend swap margin rules - Five federal agencies today announced a proposal to change the swap margin rules to facilitate the implementation of prudent risk management strategies at certain banks and swap entities. Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20191028a.htm Press Release: www.fdic.gov/news/news/press/2019/pr19098.html Press Release: www.fdic.gov/news/news/financial/2019/fil19065.html Press Release: www.occ.gov/news-issuances/news-releases/2019/nr-ia-2019-124.html October 25, 2019 - Buckeye State Bank Assumes All of the Deposits of Resolute Bank - Resolute Bank in Maumee, Ohio, was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation as receiver. To protect depositors, the FDIC entered into a purchase and assumption agreement with Buckeye State Bank in Powell, Ohio, to assume all of the deposits of Resolute Bank. www.fdic.gov/news/news/press/2019/pr19097.html October 25, 2019 - Kentucky Farmers Bank Corporation Assumes All of the Deposits of Louisa Community Bank - Louisa Community Bank in Louisa, Ky., was closed today by the Kentucky Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation as receiver. To protect depositors, the FDIC entered into a purchase and assumption agreement with Kentucky Farmers Bank Corporation in Catlettsburg, Ky., to assume all of the deposits of Louisa Community Bank. www.fdic.gov/news/news/press/2019/pr19096.html October 25, 2019 - FDIC Makes Public September Enforcement Actions - The FDIC issued 24 orders in September 2019, consisting of 22 stipulated orders, and 2 adjudicated decisions and orders by the FDIC board. www.fdic.gov/news/news/press/2019/pr19095.html October 25, 2019 - 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 9:00 a.m. on October 29, 2019. Matter(s) considered: Discussion of Monetary Policy Issues. www.federalreserve.gov/aboutthefed/boardmeetings/20191029closed.htm October 25, 2019 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm October 24, 2019 - NCUA - Financial Services Industry a Prime Target for Cyberattacks - The National Credit Union Administration Board held its ninth open meeting of 2019 at the agency�s headquarters today and unanimously approved two items: www.ncua.gov/newsroom/press-release/2019/financial-services-industry-prime-target-cyberattacks October 24, 2019 - NCUA Board Member Todd M. Harper Statement on the Public Unit and Nonmember Shares Final Rule. https://www.ncua.gov/newsroom/speech/2019/ncua-board-member-todd-m-harper-statement-public-unit-and-nonmember-shares-final-rule October 24, 2019 - NCUA Board Member Todd M. Harper Statement During the Cybersecurity Board Briefing. www.ncua.gov/newsroom/speech/2019/ncua-board-member-todd-m-harper-statement-during-cybersecurity-board-briefing October 24, 2019 - Federal Reserve Board announces new members of Community Advisory Council - The CAC is composed of a diverse group of experts and representatives of consumer, workforce, and community development organizations and interests, including from such fields as affordable housing, economic development, labor, small business, and asset and wealth building. www.federalreserve.gov/newsevents/pressreleases/other20191024a.htm ________________________ October 25, 2019 - FDIC Makes Public September Enforcement Actions - The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in September. There are no administrative hearings scheduled for November 2019. https://www.fdic.gov/news/news/press/2019/pr19095.html October 24, 2019 - Joint Release/U.S. Financial Regulatory Agencies Join the Global Financial Innovations Network - U.S. financial regulators have taken proactive steps in recent years to enhance regulatory clarity and understanding for all stakeholders and promote early identification of emerging regulatory opportunities, challenges, and risks. Press Release: www.fdic.gov/news/news/press/2019/pr19094.html Press Release: www.occ.gov/news-issuances/news-releases/2019/nr-ia-2019-122.html October 23, 2019 - Request for Information on the Use of the Uniform Financial Institutions Rating System - The Federal Deposit Insurance Corporation and the Federal Reserve Board are seeking information and comments from interested parties regarding the consistency of ratings assigned by the agencies under the Uniform Financial Institutions Rating System. www.fdic.gov/news/news/financial/2019/fil19064.html October 23, 2019 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at on October 23, 2019. Matter(s) considered: Update on Consumer and Community Matters. www.federalreserve.gov/aboutthefed/boardmeetings/20191023closed.htm October 22, 2019 - Licensing : Revised Comptroller�s Licensing Manual Booklets - The Office of the Comptroller of the Currency issued today the �Branches and Relocations,� �Charters,� �Federal Branches and Agencies,� and �General Policies and Procedures� booklets of the Comptroller�s Licensing Manual. www.occ.gov/news-issuances/bulletins/2019/bulletin-2019-50.html October 21, 2019 - A �Big Data� View of the U.S. Economy: Introducing the Brave-Butters-Kelley Indexes By Scott A. Brave , Ross Cole , David Kelley - We describe a new set of indexes�the Brave-Butters-Kelley Indexes constructed from a large panel of monthly macroeconomic time series and quarterly real gross domestic product growth. https://www.chicagofed.org/publications/chicago-fed-letter/2019/422 October 21, 2019 - Announcing FDICconnect�s Enterprise File Exchange. - On September 30, 2019, the Federal Deposit Insurance Corporation launched the new Enterprise File Exchange module through FDICconnect. EFX is a secure application for FDIC-insured institutions to exchange examination-related documentation with the FDIC and State banking authorities. www.fdic.gov/news/news/financial/2019/fil19063.html October 21, 2019 - Reporting Small Business and Small Farm Loan Data in the Consolidated Reports of Condition and Income. - The federal banking agencies are requesting comment on ways to modify the current requirements for reporting data on loans to small businesses and small farms in the Call Report. www.fdic.gov/news/news/financial/2019/fil19062.html October 21, 2019 - FDIC Advisory Committee on Economic Inclusion to Meet Tomorrow - The Federal Deposit Insurance Corporation Advisory Committee on Economic Inclusion will meet on Tuesday, October 22, to discuss developments in credit scoring and underwriting, the status of the mortgage markets, and efforts to create sustainable bank accounts. www.fdic.gov/news/news/press/2019/pr19093.html October 21, 2019 - 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 10:00 a.m. on October 23, 2019. Matter(s) considered: Update on Consumer and Community Matters. www.federalreserve.gov/aboutthefed/boardmeetings/20191023closed.htm October 21, 2019 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at 11:15 a.m. on October 21, 2019. Matter(s) considered: Review and determination by the Board of Governors of the advance and discount rates to be charged by the Federal Reserve Banks. Supervisory Matter. www.federalreserve.gov/aboutthefed/boardmeetings/20191021closed.htm October 21, 2019 - Closing remarks by Governor Michelle W.Bowman At "Gender and Career Progression" European Central Bank, Frankfurt, Germany. www.federalreserve.gov/newsevents/speech/bowman20191021a.htm October 18, 2019 - NCUA Board Sets 2020 Meeting Schedule - The National Credit Union Administration Board today released its monthly meeting schedule for 2020. Open Board meetings are scheduled to begin at 10 a.m. Eastern on the following dates: www.ncua.gov/newsroom/press-release/2019/ncua-board-sets-2020-meeting-schedule October 18, 2019 - OCC Enforcement Actions and Terminations - 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/2019/nr-occ-2019-121.html October 18, 2019 - Informing Today's Monetary Policy Choices By Esther George President and Chief Executive Officer Federal Reserve Bank of Kansas City. www.kansascityfed.org/~/media/files/publicat/speeches/2019/2019-george-denver-10-18.pdf October 18, 2019 - Reporting Data on Loans to Small Businesses and Small Farms in the Consolidated Reports of Condition and Income - On October 17, 2019, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation published the attached Federal Register notice requesting comment on ways to modify the current requirements for reporting data on loans to small businesses and small farms in the Call Report so that the reported data better reflect lending to these sectors of the U.S. economy. https://www.fdic.gov/news/news/financial/2019/fil19061.html October 18, 2019 - Differential Treatment in the Bond Market: Sovereign Risk and Mutual Fund Portfolios - Nathan Converse and Enrico Mallucci - How does sovereign risk affect investors' behavior? We answer this question using a novel database that combines sovereign default probabilities for 27 developed and emerging markets with monthly data on the portfolios of individual bond mutual funds. www.federalreserve.gov/econres/ifdp/files/ifdp1261.pdf October 18, 2019 - Global Spillovers of a China Hard Landing - Shaghil Ahmed, Ricardo Correa, Daniel A. Dias, Nils Gornemann, Jasper Hoek, Anil Jain, Edith Liu, and Anna Wong - China's economy has become larger and more interconnected with the rest of the world, thus raising the possibility that acute financial stress in China may lead to global financial instability. www.federalreserve.gov/econres/ifdp/files/ifdp1260.pdf October 18, 2019 - FEDS Notes - Interest on Excess Reserves and U.S. Commercial Bank Lending - Marcelo Rezende, Judit Temesvary, and Rebecca Zarutskie - Over the past decade, the interest on excess reserves rate has become a key administered rate used by the Federal Reserve to control short-term interest rates. www.federalreserve.gov/econres/notes/feds-notes/interest-on-excess-reserves-and-us-commercial-bank-lending-20191018.htm October 18, 2019 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm October 18, 2019 - Statistical Release - Finance Companies - G.20. www.federalreserve.gov/releases/g20/current/g20.htm October 18, 2019 - Speech by Vice Chair Clarida on the U.S. economic outlook and monetary policy At "Late Cycle Investing: Opportunity and Risk" Fixed-Income Management 2019, a conference sponsored by the CFA Institute and the CFA Society of Boston, Boston, Massachusetts. www.federalreserve.gov/newsevents/speech/clarida20191018a.htm October 18, 2019 - FDIC and Federal Reserve request information on use and impact of CAMELS ratings - In keeping with ongoing initiatives to increase transparency and improve efficiency, the Federal Deposit Insurance Corporation and Federal Reserve Board are inviting public comment on their use of the Uniform Financial Institutions Rating System, also known as the CAMELS rating system. Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20191018a.htm Press Release: www.fdic.gov/news/news/press/2019/pr19092.html _______________________ October 17, 2019 - Credit Risk Review : Notice and Request for Comment on Proposed Interagency Guidance on Credit Risk Review Systems - The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the National Credit Union Administration are seeking public comment on the proposed �Interagency Guidance on Credit Risk Review Systems� published on October 17, 2019. www.occ.gov/news-issuances/bulletins/2019/bulletin-2019-49.html October 17, 2019 - Current Expected Credit Losses : Notice and Request for Comment on Proposed Interagency Policy Statement on Allowances for Credit Losses - The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the National Credit Union Administration are seeking public comment on the proposed �Interagency Policy Statement on Allowances for Credit Losses� published on October 17, 2019. www.occ.gov/news-issuances/bulletins/2019/bulletin-2019-48.html October 17, 2019 - Kansas City Fed announces officer appointment and promotion - Federal Reserve Bank of Kansas City President and Chief Executive Officer Esther George recently made the following announcements: www.kansascityfed.org/~/media/files/publicat/newsroom/2019/newsrelease10172019.pdf October 17, 2019 - Federal Regulators Seek Comment on Proposed Guidance for Credit Risk Review Systems - The FDIC, the Federal Reserve, the Office of the Comptroller of the Currency, and the National Credit Union Administration are seeking comment on proposed guidance for credit risk review systems. www.fdic.gov/news/news/financial/2019/fil19060.html October 17, 2019 - Proposed Interagency Policy Statement on Allowances for Credit Losses - The federal financial institution regulatory agencies have issued for public comment the attached proposed Interagency Policy Statement on Allowances for Credit Losses in response to changes in the accounting for credit losses under U.S. generally accepted accounting principles, as promulgated by the Financial Accounting Standards Board. www.fdic.gov/news/news/financial/2019/fil19059.html October 17, 2019 - Approaches to Estimating Aggregate Demand for Reserve Balances - Joseph Andros, Michael Beall, Francis Martinez, Tony Rodrigues, Mary-Frances Styczynski, Alex Thorp - Recently, the Federal Reserve has conducted a series of Senior Financial Officer Surveys to gather information on reserve management practices and strategies across different banks. www.federalreserve.gov/econres/notes/feds-notes/approaches-to-estimating-aggregate-demand-for-reserve-balances-20191017.htm October 17, 2019 - A Coherent Framework for Predicting Emerging Market Credit Spreads with Support Vector Regression - Gary Anderson and Alena Audzeyeva - Abstract: We propose a coherent framework using support vector regression for generating and ranking a set of high quality models for predicting emerging market sovereign credit spreads. www.federalreserve.gov/econres/feds/files/2019074pap.pdf October 17, 2019 - 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 11:30 a.m. on October 21, 2019. Matter(s) 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/20191021closed.htm October 17, 2019 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at on October 17, 2019. Matter(s) considered: Discussion of the Semiannual Financial Stability Report. www.federalreserve.gov/aboutthefed/boardmeetings/20191017closed.htm October 17, 2019 - Statistical Release - Industrial Production and Capacity Utilization - G.17 - Industrial production fell back 0.4 percent in September after advancing 0.8 percent in August. www.federalreserve.gov/releases/g17/current/default.htm October 17, 2019 - Opening Remarks by Governor Bowman At "Monetary Policy�s Impact on Workers and Their Communities," a Fed Listens event, sponsored by the Federal Reserve Bank of Chicago, Chicago, Illinois. www.federalreserve.gov/newsevents/speech/bowman20191017a.htm October 17, 2019 - Federal Reserve Board releases results of survey of senior financial officers at banks about their strategies and practices for managing reserve balances. www.federalreserve.gov/newsevents/pressreleases/other20191017a.htm October 17, 2019 - Federal Reserve Board issues enforcement action with former employee of Southern Bancorp Bank. www.federalreserve.gov/newsevents/pressreleases/enforcement20191017a.htm October 17, 2019 - Federal financial regulatory agencies seek comment on proposed interagency policy statement on allowances for credit losses and proposed interagency guidance on credit risk review systems. Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20191017a.htm Press Release: www.fdic.gov/news/news/press/2019/pr19091.html Press Release: www.occ.gov/news-issuances/news-releases/2019/nr-ia-2019-120.html Press Release: www.ncua.gov/newsroom/press-release/2019/federal-financial-regulatory-agencies-seek-comment-proposed-interagency-policy-statement-allowances October 17, 2019 - NCUA Chairman: International Credit Union Day Celebrates People Helping People Around the World - The 71st annual International Credit Union Day is a reminder of the responsibilities of serving and protecting members, National Credit Union Administration Chairman Rodney E. Hood said today. www.ncua.gov/newsroom/press-release/2019/ncua-chairman-international-credit-union-day-celebrates-people-helping-people-around-world October 16, 2019 - On Risk Management in Monetary Policy - A speech presented on October 16, 2019, before the Greater Peoria Economic Development Council in Peoria, IL. www.chicagofed.org/publications/speeches/2019/on-risk-management-in-monetary-policy October 16, 2019 - FRB/US Model - The main FRB/US model package is a self-contained set of equations, data, programs and documentation that enables various types of simulations and provides information about the model's structure. www.federalreserve.gov/econres/us-models-package.htm October 16, 2019 - Beige Book - Informal review by the Federal Reserve Banks of current economic conditions in their Districts. www.federalreserve.gov/monetarypolicy/beigebook201910.htm October 16, 2019 - Foreign Portfolio Investment When the United States was an Emerging Market - Julio Monge and Colin Weiss - Concerns about foreign indebtedness in the United States occur throughout history. www.federalreserve.gov/econres/notes/feds-notes/foreign-portfolio-investment-when-the-united-states-was-an-emerging-market-20191016.htm October 16, 2019 - Speech by Governor Brainard on digital currencies, stablecoins, and the evolving payments landscape At The Future of Money in the Digital Age, Sponsored by the Peterson Institute for International Economics and Princeton University�s Bendheim Center for Finance, Washington, D.C. www.federalreserve.gov/newsevents/speech/brainard20191016a.htm October 16, 2019 - Federal Reserve Board announces inaugural 21 members of the Insurance Policy Advisory Committee - The inaugural IPAC members include expertise in life insurance, property and casualty insurance, and reinsurance. www.federalreserve.gov/newsevents/pressreleases/other20191016a.htm October 15, 2019 - How Similar Are Credit Scores Across Generations? By Daniel Hartley , Bhash Mazumder , Aastha Rajan - With the rise in economic inequality in the United States in recent decades, there has been growing concern about whether there is a sufficient degree of equality of opportunity in our society. www.chicagofed.org/publications/chicago-fed-letter/2019/424 October 15, 2019 - Blake Paulson Named Agency�s Next Senior Deputy Comptroller for Midsize and Community Bank Supervision - The Office of the Comptroller of the Currency today announced Blake Paulson would become the next Senior Deputy Comptroller for Midsize and Community Bank Supervision. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-119.html October 15, 2019 - Building for the Future: A Public Policy Perspective - By Esther George President and Chief Executive Officer Federal Reserve Bank of Kansas City. www.kansascityfed.org/~/media/files/publicat/speeches/2019/2019-george-chicago-10-15.pdf October 15, 2019 - St. Louis Fed's Bullard Discusses Insurance against Downside Risk for the U.S. Economy - Bullard noted that the U.S. economy is slowing down relative to 2017 and 2018. www.stlouisfed.org/news-releases/2019/10/15/bullard-insurance-against-downside-risk-us-economy October 15, 2019 - St. Louis Fed Event to Help North St. Louis Community Projects Connect with Funders - The Federal Reserve Bank of St. Louis is hosting a live Investment Connection event in St. Louis to bring together nonprofit organizations and financial institutions interested in lending to and investing in projects that impact low- and moderate-income communities. www.stlouisfed.org/news-releases/2019/10/15/investment-connect-st-louis-oct-2019 October 15, 2019 - Real-time Historical Estimates of the Output Gap - Luke Van Cleve, Jean-Philippe Laforte, and Andrea Stella - The staff of the Board of Governors of the Federal Reserve System regularly produces estimates of the output gap for use in constructing the staff's official Tealbook economic forecasts, furnished eight times per year to assist members of the Federal Open Market Committee in their policy deliberations. www.federalreserve.gov/econres/notes/feds-notes/real-time-historical-estimates-of-the-output-gap-20191015.htm October 15, 2019 - 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 10:00 a.m. on October 17, 2019. Matter(s) considered: Discussion of the Semiannual Financial Stability Report. www.federalreserve.gov/aboutthefed/boardmeetings/20191017closed.htm October 15, 2019 - Minutes of the Board's discount rate meetings on August 26 and September 18, 2019. www.federalreserve.gov/newsevents/pressreleases/monetary20191015a.htm October 11, 2019 - NCUA - Chairman Hood: CFPB Final HMDA Rule �Positive News for Credit Unions� - National Credit Union Administration Chairman Rodney E. Hood today welcomed the Consumer Financial Protection Bureau�s final rule providing regulatory relief to smaller financial institutions under the Home Mortgage Disclosure Act. www.ncua.gov/newsroom/press-release/2019/chairman-hood-cfpb-final-hmda-rule-positive-news-credit-unions October 11, 2019 - OCC Assesses $30 Million Civil Money Penalty Against Citibank - The Office of the Comptroller of the Currency today announced a $30 million civil money penalty against Citibank, N.A, of Sioux Falls, South Dakota, for violations related to the holding period of other real estate owned. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-118.html October 11, 2019 - Consolidated Reports of Condition and Income - The Consolidated Reports of Condition and Income for the September 30, 2019, report date must be submitted to the agencies' Central Data Repository by Wednesday, October 30, 2019. www.fdic.gov/news/news/financial/2019/fil19058.html October 11, 2019 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm October 11, 2019 - Federal Reserve Board announces approval of application by Magnolia Banking Corporation. www.federalreserve.gov/newsevents/pressreleases/orders20191011a.htm October 11, 2019 - Steven B. Kamin, director of Division of International Finance, to step down from director role - Kamin will serve as a senior adviser to the division and will retire after a successor has transitioned into the role. www.federalreserve.gov/newsevents/pressreleases/other20191011a.htm October 11, 2019 - Statement Regarding Monetary Policy Implementation - Consistent with its January 2019 Statement Regarding Monetary Policy Implementation and Balance Sheet Normalization, the Committee reaffirms its intention to implement monetary policy in a regime in which an ample supply of reserves ensures that control over the level of the federal funds rate and other short-term interest rates is exercised primarily through the setting of the Federal Reserve's administered rates, and in which active management of the supply of reserves is not required. www.federalreserve.gov/newsevents/pressreleases/monetary20191011a.htm October 10, 2019 - Amendments to the Stress Testing Rule for National Banks and Federal Savings Associations : Final Rule - The Office of the Comptroller of the Currency published a final rule in the Federal Register on October 10, 2019, that will amend the OCC�s stress testing rule at 12 CFR 46. www.occ.gov/news-issuances/bulletins/2019/bulletin-2019-47.html October 10, 2019 - Thresholds Increase for the Major Assets Prohibition of the Depository Institution Management Interlocks Act Rules : Final Rule - The Office of the Comptroller of the Currency published a final rule in the Federal Register on October 10, 2019, that increases the major assets prohibition thresholds for management interlocks in the OCC�s rule implementing the Depository Institution Management Interlocks Act. www.occ.gov/news-issuances/bulletins/2019/bulletin-2019-46.html October 10, 2019 - Edwards promoted to Senior Vice President of new Community Engagement and Inclusion Division. www.kansascityfed.org/~/media/files/publicat/newsroom/2019/edwardspromotion101019.pdf October 10, 2019 - Interagency Final Rule Raises Thresholds in the Major Assets Prohibition of the Depository Institution Management Interlocks Rules - The FDIC and the other federal bank regulatory agencies have jointly updated their rules restricting the ability of a director or other management official to serve at more than one unaffiliated depository organization. www.fdic.gov/news/news/financial/2019/fil19057.html October 10, 2019 - Regulatory Relief: Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Texas Affected by Tropical Storm Imelda - The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Texas affected by Tropical Storm Imelda. www.fdic.gov/news/news/financial/2019/fil19056.html October 10, 2019 - Consolidated Reports of Condition and Income for Third Quarter 2019 - The attached materials pertain to the Consolidated Reports of Condition and Income for the September 30, 2019, report date. www.fdic.gov/news/news/financial/2019/fil19055.html October 10, 2019 - Proposed Rescission of FDIC Statements of Policy - As part of a continuing effort to reduce regulatory burden, the FDIC is requesting comments on the proposed rescission of four (4) FDIC Statements of Policy that the FDIC believes are outdated. Comments must be received by October 30, 2019. www.fdic.gov/news/news/financial/2019/fil19054.html October 10, 2019 - Federal Reserve Board finalizes rules that tailor its regulations for domestic and foreign banks to more closely match their risk profiles - The Federal Reserve Board on Thursday finalized rules that tailor its regulations for domestic and foreign banks to more closely match their risk profiles. www.federalreserve.gov/newsevents/pressreleases/bcreg20191010a.htm October 10, 2019 - Federal Reserve Board announces it is seeking to permanently bar former branch manager and vice president of Pacific Premier Bank from employment in banking industry www.federalreserve.gov/newsevents/pressreleases/enforcement20191010a.htm _______________________ October 9, 2019 - NCUA - �Laying a Strong Foundation for the Future� - National Credit Union Administration Chairman Rodney E. Hood today released a six-month progress report on his efforts since he took office. www.ncua.gov/newsroom/press-release/2019/laying-strong-foundation-future October 9, 2019 - Appraisals for Residential Real Estate Transactions : Final Rule - The Office of the Comptroller of the Currency has adopted a final rule to increase the appraisal threshold for residential real estate transactions (residential transactions) from $250,000 to $400,000. www.occ.gov/news-issuances/bulletins/2019/bulletin-2019-45.html October 9, 2019 - Interactive Maps Detail Burden of Student Debt in the Bay Area - A new interactive mapping tool released today by the Federal Reserve Bank of San Francisco provides an in-depth look at student loan borrowing and repayment in the nine-county San Francisco Bay Area. www.frbsf.org/our-district/press/news-releases/2019/interactive-maps-detail-burden-of-student-debt-in-the-bay-area/ October 9, 2019 - FDIC Announces Meeting of Advisory Committee on Community Banking - The Federal Deposit Insurance Corporation today announced that it will hold a meeting of the Advisory Committee on Community Banking on Thursday, October 10. FDIC senior staff will provide an update on various supervisory policy issues and insurance and research matters, brief Committee members on the FDIC Subcommittee on Supervision Modernization, and discuss tools and resources related to Opportunity Zones. www.fdic.gov/news/news/press/2019/pr19090.html October 9, 2019 - FDIC Announces New Paid Parental Leave Benefit for Employees - The Federal Deposit Insurance Corporation today announced a new paid parental leave program for its employees, providing six workweeks of paid leave per year for the birth, adoption, or foster placement of a new child. The program will be available to mothers and fathers equally, and to both parents if both are FDIC employees. www.fdic.gov/news/news/press/2019/pr19089.html October 9, 2019 - Scarred Consumption - Ulrike Malmendier and Leslie Sheng Shen - We show that prior lifetime experiences can "scar" consumers. Consumers who have lived through times of high unemployment exhibit persistent pessimism about their future financial situation and spend significantly less, controlling for the standard life-cycle consumption factors, even though their actual future income is uncorrelated with past experiences. www.federalreserve.gov/econres/ifdp/files/ifdp1259.pdf October 9, 2019 - Expectations about the Federal Funds Rate in the Long Run - Kasper Joergensen and Andrew Meldrum - Over the past several years, the federal funds rate has remained well below the levels typically seen prior to the financial crisis that began in 2007. www.federalreserve.gov/econres/notes/feds-notes/expectations-about-the-federal-funds-rate-in-the-long-run-20191009.htm October 9, 2019 - Communications with the public through October 9, 2019 - Communications with the public through October 9, 2019. www.federalreserve.gov/regreform/communications-with-public.htm October 9, 2019 - Minutes of the Federal Open Market Committee, September 17-18, 2019 - A summary of economic projections made by Federal Reserve Board members and Reserve Bank presidents for the meeting is also included as an addendum to these minutes. www.federalreserve.gov/newsevents/pressreleases/monetary20191009a.htm October 8, 2019 - How Health Insurance Improves Financial Health By Sarah Miller , Luojia Hu , Robert Kaestner , Bhash Mazumder , Ashley Wong , Lisa Camner McKay - Research by Sarah Miller, University of Michigan, Luojia Hu, Federal Reserve Bank of Chicago, Robert Kaestner, University of Chicago, Bhashkar Mazumder, Federal Reserve Bank of Chicago, and Ashley Wong, Northwestern University Summary by Lisa Camner McKay, economics writer. www.chicagofed.org/publications/chicago-fed-letter/2019/420 October 8, 2019 - Understanding Recent Fluctuations in Short-Term Interest Rates - By Sam Schulhofer-Wohl - In mid-September 2019, there were sudden, large fluctuations in short-term interest rates. Why did these fluctuations happen, and what do they tell us about the Federal Reserve�s monetary policy toolkit? www.chicagofed.org/publications/chicago-fed-letter/2019/423 October 8, 2019 - NCUA Chairman Rodney E. Hood Remarks - State Employees Credit Union Annual Membership Meeting. www.ncua.gov/newsroom/speech/2019/ncua-chairman-rodney-e-hood-remarks-state-employees-credit-union-annual-membership-meeting October 8, 2019 - Regulatory Reform - Communications with the public through October 8, 2019. www.federalreserve.gov/reform.htm October 8, 2019 - Speech by Chair Powell on data-dependent monetary policy in an evolving economy At "Trucks and Terabytes: Integrating the 'Old' and 'New' Economies" 61st Annual Meeting of the National Association for Business Economics, Denver, Colorado. www.federalreserve.gov/newsevents/speech/powell20191008a.htm October 7, 2019 - NCUA Extends Deadline to Qualify for Streamlined CDFI Application to Nov. 30 - The National Credit Union Administration has extended the deadline for federally insured, low-income credit unions that want to become certified Community Development Financial Institutions to apply for qualification to use the agency�s streamlined CDFI certification process. www.ncua.gov/newsroom/press-release/2019/ncua-extends-deadline-qualify-streamlined-cdfi-application-nov-30 October 7, 2019 - OCC to Host Innovation Office Hours in Las Vegas - The Office of the Comptroller of the Currency today announced it will hold Innovation Office Hours on October 28 in Las Vegas to promote responsible innovation in the federal banking system. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-116.html October 7, 2019 - Statistical Release - Consumer Credit - G.19 - In August, consumer credit increased at a seasonally adjusted annual rate of 5-1/4 percent. Revolving credit decreased at an annual rate of 2-1/4 percent, and nonrevoving credit increased at an annual rate of 7-3/4 percent. www.federalreserve.gov/releases/g19/current/default.htm October 7, 2019 - Notice of a Meeting under Expedited Procedures A closed meeting of the Board of Governors of the Federal Reserve System was held at 11:15 a.m. on October 7, 2019. Matter(s) 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/20191007closed.htm October 7, 2019 - Brief remarks by Chair Powell At the premiere of "Marriner Eccles: Father of the Modern Federal Reserve," Salt Lake City, Utah. www.federalreserve.gov/newsevents/speech/powell20191007a.htm October 4, 2019 - Robert Owen and the Federal Reserve By Esther George President and Chief Executive Officer Federal Reserve Bank of Kansas City at Economic Forum Tahlequah, Oklahoma. www.kansascityfed.org/~/media/files/publicat/speeches/2019/2019-george-tahlequah-10-04.pdf October 4, 2019 - FDIC Issues List of Banks Examined for CRA Compliance - The list covers evaluation ratings that the FDIC assigned to institutions in July 2019. www.fdic.gov/news/news/press/2019/pr19086.html October 4, 2019 - FOIA - Chair Powell's calendar, August 2019. www.federalreserve.gov/foia/chairman-powell-calendar.htm October 4, 2019 - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm October 4, 2019 - US Monetary Policy and International Bond Markets - Simon Gilchrist, Vivian Yue, and Egon Zakrajsek - This paper uses high-frequency data to analyze the effects of US monetary policy--during the conventional and unconventional policy regimes--on foreign government bonds markets in advanced and emerging market economies. www.federalreserve.gov/econres/feds/2018.htm#2018014 October 4, 2019 - The Dollar and Emerging Market Economies: Financial Vulnerabilities Meet the International Trade System - Samer Shousha - This paper shows that dollar appreciations lead to declines in GDP, investment, and credit to the private sector in emerging market economies. https://www.federalreserve.gov/econres/ifdp/files/ifdp1258.pdf October 4, 2019 - Opening remarks by Chair Powell At "Perspectives on Maximum Employment and Price Stability" a Fed Listens event sponsored by the Board of Governors of the Federal Reserve System, Washington, D.C. www.federalreserve.gov/newsevents/speech/powell20191004a.htm October 3, 2019 - An Open Board meeting of the Board of Governors of the Federal Reserve System will be held at 2:00 p.m. on October 10, 2019. Matter(s) considered: Final rules on prudential standards and resolution plan requirements for large domestic and foreign banking organizations and proposed rule on supervisory assessments for large banking organizations. www.federalreserve.gov/aboutthefed/boardmeetings/20191010open.htm ______________________ October 3, 2019 - The Financial Stability Board at 10 Years�Looking Back and Looking Ahead Vice Chair for Supervision and Chair of the Financial Stability Board Randal K. Quarles At the European Banking Federation's European Banking Summit, Brussels, Belgium. www.federalreserve.gov/newsevents/speech/quarles20191003a.htm October 3, 2019 - NCUA Chairman Rodney E. Hood Remarks - National Council of Firefighter Credit Unions 2019 Annual. www.ncua.gov/newsroom/speech/2019/ncua-chairman-rodney-e-hood-remarks-national-council-firefighter-credit-unions-2019-annual October 3, 2019 - 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 11:30 a.m. on October 7, 2019. Matter(s) 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/20191007closed.htm October 3, 2019 - Federal Reserve Board issues enforcement action with former employee of Columbus Bank & Trust. www.federalreserve.gov/newsevents/pressreleases/enforcement20191003a.htm October 2, 2019 - NCUA Hosting Diversity, Equity, and Inclusion Summit Nov. 6 - The National Credit Union Administration is inviting credit unions to its first annual Credit Union Diversity, Equity, and Inclusion Summit on Wednesday, Nov. 6, in Alexandria. www.ncua.gov/newsroom/press-release/2019/ncua-hosting-diversity-equity-and-inclusion-summit-nov-6 October 2, 2019 - OCC Releases CRA Evaluations for 35 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, 2019 through September 30, 2019. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-113.html October 2, 2019 - Agencies issue final rule to update management interlock rules - The federal bank regulatory agencies today finalized updates to rules restricting the ability of a director or other management official to serve at more than one depository institution or depository holding company. Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20191002a.htm Press Release: www.fdic.gov/news/news/press/2019/pr19085.html Press Release: www.occ.gov/news-issuances/news-releases/2019/nr-ia-2019-112.html October 1, 2019 - Fed's Evans Discusses Mid-Cycle Adjustments in Frankfurt, Germany - A speech presented on October 1, 2019, at the Global Interdependence Center Central Banking Series event, Monetary and Economic Policies on Both Sides of the Atlantic, in Frankfurt, Germany. www.chicagofed.org/publications/speeches/2019/on-mid-cycle-adjustments October 1, 2019 - NCUA: Cybersecurity Awareness Month a Reminder about Staying Safe Online - Financial losses due to cybercrime reached $2.7 billion in 2018, and during National Cybersecurity Awareness Month, the National Credit Union Administration is reminding credit union industry stakeholders to remain vigilant. www.ncua.gov/newsroom/press-release/2019/ncua-cybersecurity-awareness-month-reminder-about-staying-safe-online October 1, 2019 - OCC Releases Bank Supervision Operating Plan for Fiscal Year 2020 - The plan provides the foundation for policy initiatives and for supervisory strategies as applied to individual national banks, federal savings associations, federal branches, federal agencies, and technology service providers. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-111.html October 1, 2019 - Kansas City Fed to host Fed Listens event with Federal Reserve Chair Jerome Powell - At the October 9 community listening session, Chair Powell and Kansas City Fed President Esther George will hear from Missouri and Kansas leaders on a range of economic issues, such as labor market conditions, local banking, community development challenges and other topics. www.kansascityfed.org/~/media/files/publicat/newsroom/2019/fedlistensannouncementfinal.pdf October 1, 2019 - Statistical Release - Foreign Exchange Rates - G.5 - The table below shows the average rates of exchange in SEPTEMBER 2019 together with comparable figures for other months. www.federalreserve.gov/releases/g5/current/default.htm October 1, 2019 - Introductory remarks by Vice Chair Clarida At "Nontraditional Data, Machine Learning, and Natural Language Processing in Macroeconomics," a research conference sponsored by the Federal Reserve Board, Washington, D.C. www.federalreserve.gov/newsevents/speech/clarida20191001a.htm October 1, 2019 - Speech by Governor Bowman on advancing our understanding of community banking At "Community Banking in the 21st Century" 2019 Community Banking Research and Policy Conference sponsored by the Federal Reserve System, the Conference of State Bank Supervisors, and the Federal Deposit Insurance Corporation, St. Louis, Missouri. www.federalreserve.gov/newsevents/speech/bowman20191001a.htm October 1, 2019 - Federal Reserve Board announces approval of application by Absa Bank Limited. www.federalreserve.gov/newsevents/pressreleases/orders20191001a.htm October 1, 2019 - Federal Reserve Board issues enforcement action with former employee of Regions Bank. www.federalreserve.gov/newsevents/pressreleases/enforcement20191001a.htm |
FYI - Don't forget to follow me on LinkedIn at https://www.linkedin.com/in/yennik where I post a weekly question on IT and cybersecurity auditing.
You can receive the regulatory press releases every week by subscribing to
The E-mail Banking News at
https://yennik.com/newletter_page.htm.
There is no charge for the e-newsletter.
Contact R. Kinney Williams at
examiner@yennik.com
if you have any questions.
| PLEASE NOTE: Some of the above links may not function properly because the regulatory agency has changed the URL. Please e-mail us at examiner@yennik.com if we can be of assistance. |