The E-mail Banking News
(Bank Regulatory News)
September 2013

September 30, 2013 - NCUA Reminds Credit Unions about Cybersecurity Awareness Month - On the eve of Cybersecurity Awareness Month, National Credit Union Administration Board Chairman Debbie Matz today reminded credit unions about the importance of fighting cybercrime and protecting online the personal and financial information of their members. www.ncua.gov/News/Pages/NW20130930Cybersecurity.aspx

September 30, 2013 - NCUA Issues Prohibition Orders - The National Credit Union Administration has issued two orders in September prohibiting the following individuals from participating in the affairs of any federally insured financial.  www.ncua.gov/News/Pages/NW20130930Prohibition.aspx

September 30, 2013 - FDIC Makes Public August Enforcement Actions - No Administrative Hearings Scheduled for October 2013 - The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in August. No administrative hearings are scheduled for October 2013.  www.fdic.gov/news/news/press/2013/pr13085.html

September 27, 2013 - Forecasting Inflation and the Great Recession - Economic Perspectives article shows how the recovery of inflation in 2009-10 occurred precisely at the only time (since 1985) the models would predict disinflation, i.e., inflation went up when the models said it should go down. http://chicagofed.org/webpages/publications/cfnai/index.cfm

September 27, 2013 - OCC Reports Second Quarter Trading Revenue of $7.3 Billion - Insured U.S. commercial banks and savings associations reported trading revenue of $7.3 billion in the second quarter of 2013, $0.2 billion lower (3 percent) than $7.5 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. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-153.html

September 27, 2013 - FDIC Supervisory Approach to Payment Processing Relationships With Merchant Customers That Engage in Higher-Risk Activities - The FDIC is clarifying its policy and supervisory approach related to facilitating payment processing services directly, or indirectly through a third party, for merchant customers engaged in higher-risk activities. www.fdic.gov/news/news/financial/2013/fil13043.html

September 27, 2013 - Finance and Economics Discussion Series - Payday Lending Regulation - To date the debate over payday lending has focused on whether access to such lending is on net beneficial or harmful to consumer welfare. However, payday loans are not one product but many, and different forms of lending may have different welfare implications. www.federalreserve.gov/pubs/feds/2013/201362/201362pap.pdf

September 27, 2013 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm
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September 26, 2013 - Office of the Comptroller of the Currency Hosts Workshops in Arkansas - The Office of the Comptroller of the Currency will host two workshops in Little Rock, Ark., at the Peabody Little Rock, Nov. 5-6, for directors of national community banks and federal savings associations.   www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-152.html

September 26, 2013 - OCC Reports Continued Improvement in Mortgage Performance - The performance of first-lien mortgages serviced by large national and federal savings banks continued to improve in the second quarter of 2013, according to a report released today by the Office of the Comptroller of the Currency.   www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-151.html

September 26, 2013 - Financial market stresses decrease for second straight week - Financial market stresses eased for the second consecutive week, according to the St. Louis Fed Financial Stress Index. For the week ending Sept. 20, 2013, the STLFSI measured -0.572, its lowest level in five weeks, and a modest decline from the previous week’s value of -0.454. www.stlouisfed.org/newsroom/displayNews.cfm?article=1933

September 26, 2013 - St. Louis Fed President James Bullard Will Give Opening Remarks at System Community Banking Research Conference.   www.stlouisfed.org/newsroom/displayNews.cfm?article=1935

September 26, 2013 - Proposed Regulatory Capital Reporting Changes - The FDIC and the other banking agencies have proposed revisions to the regulatory capital components and ratios portion of Schedule RC-R, Regulatory Capital, of the Consolidated Reports of Condition and Income.   www.fdic.gov/news/news/financial/2013/fil13042.html

September 26, 2013 - Do Low Interest Rates Decrease Commodity Price Volatility? - Joseph W. Gruber and Robert J. Vigfusson - Commodity prices have been volatile over the past decade relative to the 1990s. Over the same period interest rates have also been relatively low, suggesting a possible connection. www.federalreserve.gov/econresdata/notes/ifdp/2013/do-low-interest-rates-decrease-commodity-price-volatility/default.htm

September 26, 2013 - Why Have Americans' Income Expectations Declined So Sharply? - Claudia Sahm Data from the Thomson Reuters/University of Michigan Surveys of Consumers suggests that Americans' income expectations declined sharply in the 2008-09 recession and remain depressed. www.federalreserve.gov/econresdata/notes/feds/2013/why-have-americans-income-expectations-declined-so-sharply/

September 26, 2013 - Do CFOs Think Investment is Sensitive to Interest Rates? - Steve Sharpe† and Gustavo Suarez - This piece presents results from ongoing research that takes a new look at the sensitivity of a business's capital expenditures to changes in interest rates. www.federalreserve.gov/econresdata/notes/feds/2013/do-cfos-think-investment-is-sensitive-to-interest-rates/

September 26, 2013 - Looking for Shortages of Skilled Labor in the Manufacturing Sector - Jessica Stahl† and Norman Morin - Anecdotal reports have suggested that some firms have struggled to find sufficient numbers of skilled workers. For instance, the Federal Reserve's January 2013 Beige Book mentioned that "contacts in several Districts reported difficulties finding qualified workers in some specialized fields, such as skilled manufacturing, energy, and IT."   www.federalreserve.gov/econresdata/notes/feds/2013/looking-for-shortages-of-skilled-labor-in-the-manufacturing-sector/

September 26, 2013 - Governor Jeremy C. Stein - Yield-Oriented Investors and the Monetary Transmission Mechanism - At the "Banking, Liquidity and Monetary Policy," a Symposium Sponsored by the Center for Financial Studies, Frankfurt, Germany.    www.federalreserve.gov/newsevents/speech/stein20130926a.htm

September 26, 2013 - Federal Reserve Board announces approval of application by One PacificCoast Foundation and One PacificCoast Bancorp.   www.federalreserve.gov/newsevents/press/orders/20130926a.htm

September 26, 2013 - Federal Reserve Board issues enforcement action with SunSouth Bancshares, Inc. www.federalreserve.gov/newsevents/press/enforcement/20130926a.htm

September 25, 2013 - NCUA’s September Economic Update Posted - The National Credit Union Administration’s economic series has returned with an update from NCUA Chief Economist John Worth on recent economic trends and new economic resources available for credit unions. www.ncua.gov/News/Pages/NW20130925EconomicUpdate.aspx

September 25, 2013 - Community Banks in Nine Southern States Show Improving Performance; Oil and Gas Activity Drives Deposit Growth in Several States - Housing and commercial real estate show increased activity and improving values, as the oil and gas industry drives growth in several sectors of the nine-state southern district, officials from the Office of the Comptroller of the Currency said today. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-150.html

September 25, 2013 - Statistical Release - Z.1 Financial Accounts of the United States.  www.federalreserve.gov/releases/z1/Current/

September 25, 2013 - Statistical Release - E.2 Survey of Terms of Business Lending.  www.federalreserve.gov/releases/e2/current/

September 24, 2013 - OCC Assesses $4.1 Million Civil Money Penalty Against Saddle River Valley Bank for Bank Secrecy Act Violations - The Office of the Comptroller of the Currency today announced a $4.1 million civil money penalty against Saddle River Valley Bank, Montclair, New Jersey, for violations of the Bank Secrecy Act.  www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-147.html

September 24, 2013 - Office of the Comptroller of the Currency Hosts Workshops in Oklahoma City - The Office of the Comptroller of the Currency will host two workshops in Oklahoma City, Okla., at the Skirvin Hilton Hotel, Oct. 29-30, for directors of national community banks and federal savings associations. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-149.html

September 24, 2013 - Oct. 2-3 Community Banking Research Conference To Be Webcast Live from St. Louis Fed - The Federal Reserve System and the Conference of State Bank Supervisors announced today that “Community Banking in the 21st Century,” a national community banking research and policy conference, will be webcast live from the Federal Reserve Bank of St. Louis Gateway Conference Center Oct. 2-3, 2013. www.stlouisfed.org/newsroom/displayNews.cfm?article=1914

September 24, 2013 - The Federal Reserve Board on Tuesday issued two interim final rules that clarify how companies should incorporate the Basel III regulatory capital reforms into their capital and business projections during the next cycle of capital plan submissions and stress tests.
Press Release: www.federalreserve.gov/newsevents/press/bcreg/20130924b.htm 
Press Release: www.fdic.gov/news/news/financial/2013/fil13041.html

September 24, 2013 - Federal regulators issue guidance on reporting financial abuse of older adults - Seven federal regulatory agencies today issued guidance to clarify that the privacy provisions of the Gramm-Leach-Bliley Act generally permit financial institutions to report suspected elder financial abuse to appropriate authorities.
Press Release: www.federalreserve.gov/newsevents/press/bcreg/20130924a.htm
Press Release: www.federalreserve.gov/bankinforeg/caletters/Attachment_CA_13-14_Elder_Abuse_Guidance_final.pdf
Press Release: www.fdic.gov/news/news/press/2013/pr13084.html
Press Release: www.occ.gov/news-issuances/news-releases/2013/nr-ia-2013-148.html
Press Release: www.ncua.gov/News/Pages/NW20130924Guidance.aspx

September 23, 2013 - Economic Growth Picked Up in August - The Chicago Fed National Activity Index was +0.14 in August, up from –0.43 in July. http://chicagofed.org/webpages/publications/cfnai/index.cfm

September 23, 2013 - NCUA - Toeppe Named NCUA’s Region III Director - National Credit Union Administration Board Chairman Debbie Matz today announced the selection of Myra Toeppe as Director of the agency’s Region III office. www.ncua.gov/News/Pages/NW20130923Toeppe.aspx

September 23, 2013 - Comptroller Discusses the Agency's "Heightened Expectations" - Comptroller of the Currency Thomas J. Curry today discussed steps the OCC is taking to ensure the agency meets the same high standards it sets for the national banks and federal savings associations it supervises.   www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-146.html

September 23, 2013 - OCC Assesses $37,500,000 Penalty Against TD Bank, N.A. For Failures to File Suspicious Activity Reports - The Office of the Comptroller of the Currency assessed a $37,500,000 penalty against TD Bank, N.A., Wilmington, Delaware for violations of the Bank Secrecy Act.  www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-145.html

September 20, 2013 - 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/2013/nr-occ-2013-144.html 

September 20, 2013 - Comptroller Discusses Diversity - Comptroller of the Currency Thomas J. Curry today discussed the agency's efforts, accomplishments, and challenges in our diversity and inclusion initiatives during the 2013 Congressional Black Caucus Foundation Annual Legislative Conference. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-143.html

September 20, 2013 - St. Louis Fed’s Bullard Discusses Four Questions for Current Monetary Policy - Federal Reserve Bank of St. Louis President James Bullard discussed “Four Questions for Current Monetary Policy,” at the New York Association for Business Economics luncheon on Friday. www.stlouisfed.org/newsroom/displayNews.cfm?article=1929

September 20, 2013 - What Does Financial Volatility Tell Us About Macroeconomic Fluctuations? - Marcelle Chauvet, Zeynep Senyuz, and Emre Yoldas - This paper provides an extensive analysis of the predictive ability of financial volatility measures for economic activity. We construct monthly measures of stock and bond market volatility from daily returns and model volatility as composed of a long-run component that is common across all series, and a set of idiosyncratic short-run components. www.federalreserve.gov/pubs/feds/2013/201361/201361pap.pdf

September 20, 2013 - Endogenous Sources of Volatility in Housing Markets: The Joint Buyer-Seller Problem - Elliot Anenberg and Patrick Bayer - This paper presents new empirical evidence that internal movement--selling one home and buying another--by existing homeowners within a metropolitan housing market is especially volatile and the main driver of fluctuations in transaction volume over the housing market cycle. www.federalreserve.gov/pubs/feds/2013/201360/201360pap.pdf

September 20, 2013 - Financial Holding Companies - As of July 30, 2013 - Under the Bank Holding Company Act, bank holding companies may elect to be financial holding companies. Following is a list of those companies whose elections to become or be treated as financial holding companies are effective. The list includes only the top-tier company in each organization. www.federalreserve.gov/bankinforeg/fhc.htm

September 20, 2013 - Cost of Borrowing Shocks and Fiscal Adjustment - Oliver de Groot, Fédéric Holm-Hadulla, and Nadine Leiner-Killinger - Do capital markets impose fiscal discipline on governments? We investigate the responses of fiscal variables to a change in the interest rate paid by governments on their debt in a panel of 14 European countries over four decades. www.federalreserve.gov/pubs/feds/2013/201359/201359pap.pdf

September 20, 2013 - Monetary-Fiscal Policy Interactions: Interdependent Policy Rule Coefficients - Manuel Gonzalez-Astudillo - In this paper, we formulate and solve a New Keynesian model with monetary and fiscal policy rules whose coefficients are time-varying and interdependent. We implement time variation in the policy rules by specifying coefficients that are logistic functions of correlated latent factors and propose a solution method that allows for these characteristics. www.federalreserve.gov/pubs/feds/2013/201358/201358pap.pdf

September 20, 2013 - The Dynamics of Labor Market Polarization - Christopher L. Smith - It has been well documented that the share of the working-age population employed in "middle-skill" occupations has been falling for some time, while the share in lower- and higher-skill jobs has been rising--i.e. "polarization" of the labor market.  www.federalreserve.gov/pubs/feds/2013/201357/201357pap.pdf

The Impact of the Federal Reserve's Large-Scale Asset Purchase Programs on Corporate Credit Risk - Simon Gilchrist and Egon Zakrajsek - Estimating the effect of Federal Reserve's announcements of Large-Scale Asset Purchase programs on corporate credit risk is complicated by the simultaneity of policy decisions and movements in prices of risky financial assets, as well as by the fact that both interest rates of assets targeted by the programs and indicators of credit risk reacted to other common shocks during the recent financial crisis. www.federalreserve.gov/pubs/feds/2013/201356/201356pap.pdf

Stress-Testing U.S. Bank Holding Companies: A Dynamic Panel Quantile Regression Approach - Francisco B. Covas, Ben Rump, and Egon Zakrajsek - We propose an econometric framework for estimating capital shortfalls of bank holding companies under pre-specified macroeconomic scenarios. www.federalreserve.gov/pubs/feds/2013/201355/201355pap.pdf

September 20, 2013 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

September 20, 2013 - Governor Daniel K. Tarullo - Macroprudential Regulation - At the Yale Law School Conference on Challenges in Global Financial Services, New Haven, Connecticut.  www.federalreserve.gov/newsevents/speech/tarullo20130920a.htm
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September 19, 2013 - OCC Assesses $60 Million Penalty Against JPMorgan Chase, Orders Bank to Reimburse Consumers for Unfair Billing Practices - The Office of the Comptroller of the Currency today assessed a $60 million penalty against JPMorgan Chase Bank, N.A., Columbus, Ohio, and Chase Bank USA, N.A., Wilmington, Delaware (collectively, the bank), and ordered the bank to make restitution to millions of consumers who were unfairly billed for, and paid for, identity theft protection that they did not receive. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-142.html

September 19, 2013 - Comptroller Statement Regarding Civil Money Penalty Against JPMorgan Chase, N.A. - Comptroller of the Currency Thomas J. Curry today issued the following statement regarding the civil money penalty issued by the Office of the Comptroller of the Currency against JPMorgan Chase, N.A., for unsafe and unsound practices related to derivatives trading activities conducted on behalf of the bank by the Chief Investment Office.  www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-141.html
 
September 19, 2013 - OCC Assesses $300 Million Civil Money Penalty Against JPMorgan Chase, N.A., Related to Derivatives Trading Activity - The Office of the Comptroller of the Currency announced today a $300,000,000 civil money penalty action against JPMorgan Chase Bank, N.A., for unsafe and unsound practices related to derivatives trading activities conducted on behalf of the bank by the Chief Investment Office. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-140.html

September 19, 2013 - OCC Takes Action Against JPMC to Protect Consumers and to Ensure Servicemembers Receive Credit Protections for Their Non-Home Loans - The Office of the Comptroller of the Currency today announced an enforcement action against JPMorgan Chase Bank, N.A., Columbus, Ohio, JPMorgan Bank and Trust Company, N.A., San Francisco, California, and Chase Bank USA, N.A., Wilmington, Delaware (collectively, the bank), for unsafe or unsound practices in connection with the bank’s non-home loan debt collection litigation practices and the bank’s non-home loan compliance with the Servicemembers Civil Relief Act.  www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-139.html

September 19, 2013 - Financial market stresses ease modestly over previous week - Financial market stresses eased modestly over the previous week, according to the St. Louis Fed Financial Stress Index. For the week ending Sept. 13, 2013, the STLFSI measured -0.449, modestly less than the previous week’s value of -0.361. This decrease ended four consecutive weekly increases. www.stlouisfed.org/newsroom/displayNews.cfm?article=1928

September 19, 2013 - Notice of Final Rule: Definition of Insured Deposit - On September 12, 2013, the FDIC Board of Directors adopted the attached Final Rule to clarify that deposits in foreign branches of U.S. banks are not eligible for deposit insurance, although they may qualify as deposits for the purpose of national depositor preference. The Final Rule will be effective October 15, 2013. www.fdic.gov/news/news/financial/2013/fil13040.html

September 19, 2013 - Statistical Release - Owned and Managed Receivables Outstanding 2 Seasonally adjusted. Billions of dollars except as noted. www.federalreserve.gov/releases/g20/Current/

September 19, 2013 - Legal Developments - Section 19 letters, June 17 (4 letters), July 1, 2 (3 letters), 22, and August 13, 2013.   www.federalreserve.gov/bankinforeg/legaldevelopments/ordersother2013.htm

September 19, 2013 - JPMorgan Chase & Co. to pay $200 million for oversight, management, and controls deficiencies - The Federal Reserve Board on Thursday announced that JPMorgan Chase & Co., New York, New York, a registered bank holding company, will pay a $200 million penalty for deficiencies in the bank holding company's oversight, management, and controls governing its Chief Investment Office.   www.federalreserve.gov/newsevents/press/enforcement/20130919a.htm

September 18, 2013 - NCUA - Matz: NCUA to Propose Stress Testing Rule - National Credit Union Administration Board Chairman Debbie Matz today announced the agency’s Office of National Examinations and Supervision is drafting a proposed rule to require annual stress tests at credit unions with assets exceeding $10 billion. www.ncua.gov/News/Pages/NW20130918StressTesting.aspx

September 18, 2013 - Federal Financial Institutions Examination Council Announces Availability of 2012 Data on Mortgage Lending - The Federal Financial Institutions Examination Council today announced the availability of data on mortgage lending transactions at 7,400 U.S. financial institutions covered by the Home Mortgage Disclosure Act. Covered institutions include banks, savings associations, credit unions, and mortgage companies. www.ncua.gov/News/Pages/NW20130918FFIEC.aspx

September 18, 2013 - Comptroller Highlights Cybersecurity Risks - Comptroller of the Currency Thomas J. Curry today discussed cybersecurity during a speech before the Exchequer Club. During his remarks, the Comptroller highlighted increased risk related to the banking system’s significant reliance on technology and telecommunications, and the interconnections between these systems. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-138.html

September 18, 2013 - Mortgage Market Conditions and Borrower Outcomes: Evidence from the 2012 HMDA Data and Matched HMDA--Credit Record Data - This article describes mortgage lending activity in 2012 based on newly available data reported under the Home Mortgage Disclosure Act of 1975.   www.federalreserve.gov/pubs/bulletin/2013/pdf/2012_HMDA.pdf

September 18, 2013 - Federal Reserve issues FOMC statement - Information received since the Federal Open Market Committee met in July suggests that economic activity has been expanding at a moderate pace. Some indicators of labor market conditions have shown further improvement in recent months, but the unemployment rate remains elevated. www.federalreserve.gov/newsevents/press/monetary/20130918a.htm

September 18, 2013 - Federal Reserve Board and Federal Open Market Committee release economic projections from the September 17-18 FOMC meeting - The attached table and charts released on Wednesday summarize the economic projections and the target federal funds rate projections made by Federal Reserve Board members and Federal Reserve Bank presidents for the September 17-18 meeting of the Federal Open Market Committee. www.federalreserve.gov/newsevents/press/monetary/20130918b.htm

September 17, 2013 - Why Cyprus Financial Aid Unsettled Bank Investors - Chicago Fed Letter looks at why investors feared Cyprus set a precedent for eurozone bank restructurings, with investors bearing a higher fraction of resolution costs. www.chicagofed.org/digital_assets/publications/chicago_fed_letter/2013/cfloctober2013_315.pdf

September 17, 2013 - Fed’s Evans Addresses Ag Bankers - Chicago Fed President Charles Evans talked about the economy September 6 at the AgFirst Credit Bank’s 2013 Summit in Greenville, South Carolina. www.chicagofed.org/webpages/publications/speeches/2013/09_06_13_agfirst.cfm

September 17, 2013 - Forecasting Inflation and the Great Recession - Economic Perspectives article shows how the recovery of inflation in 2009-10 occurred precisely at the only time (since 1985) the models would predict disinflation, i.e., inflation went up when the models said it should go down. www.chicagofed.org/digital_assets/publications/economic_perspectives/2013/3Q2013_part1_bassetto_messer_ostrowski.pdf

September 17, 2013 - OCC Encourages National Banks and Federal Savings Associations to Work With Customers Affected by the Colorado Floods - The Office of the Comptroller of the Currency reminds national banks and federal savings associations of guidance to assist financial institutions and their customers affected by extreme weather, such as the recent flooding in Colorado. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-137.html

September 17, 2013 - Anthony Zipple, Sc.D., MBA Joins St. Louis Fed’s Health Care Industry Council - Anthony Zipple, Sc.D., MBA, president & CEO of Seven Counties Services, Inc., Louisville, Ky., has been named to the Health Care Industry Council of the Federal Reserve Bank of St. Louis. www.stlouisfed.org/newsroom/displayNews.cfm?article=1924

September 17, 2013 - Federal Reserve Board issues enforcement action with The Missouri Bank.   www.federalreserve.gov/newsevents/press/enforcement/20130917a.htm

September 16, 2013 - Comptroller Discusses Bank Accounting Practices at Bank Accounting Conference - Comptroller of the Currency Thomas J. Curry today discussed bank accounting practices at the 2013 banking conference of the American Institute of CPAs. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-136.html

September 16, 2013 - Regulatory Relief - Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Colorado Affected by Severe Storms, Flooding, Landslides, and Mudslides.  www.fdic.gov/news/news/financial/2013/fil13039.html

September 16, 2013 - Statistical Release - Industrial Production and Capacity Utilization--G.17 - Industrial production advanced 0.4 percent in August after having been unchanged in July; the gains in August were broadly based. www.federalreserve.gov/releases/g17/Current/default.htm

September 14, 2013 - St. Louis Fed President James Bullard Will Speak at New York Association for Business Economics.   www.stlouisfed.org/newsroom/displayNews.cfm?article=1922

September 13, 2013 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm
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September 12, 2013 - Oct. 2-3 Community Banking Research Conference To Be Webcast Live from St. Louis Fed - The Federal Reserve System and the Conference of State Bank Supervisors announced today that “Community Banking in the 21st Century,” a national community banking research and policy conference, will be webcast live from the Federal Reserve Bank of St. Louis Gateway Conference Center Oct. 2-3, 2013. www.stlouisfed.org/newsroom/displayNews.cfm?article=1914

September 12, 2013 - St. Louis Fed Financial Stress Index rises for fourth consecutive week - Financial market stresses rose for the fourth consecutive week, according to the St. Louis Fed Financial Stress Index. For the week ending Sept. 6, 2013, the STLFSI measured -0.357, a modest increase from last week’s reading of -0.421. The index remains well below its peak during this business expansion (0.823), which occurred the week ending Oct. 7, 2011. www.stlouisfed.org/newsroom/displayNews.cfm?article=1915

September 12, 2013 - St. Louis Fed Releases College-Planning Resources - As high school students head back to class this fall, a top priority for many of them - and their parents - is planning for college. www.stlouisfed.org/newsroom/displayNews.cfm?article=1916

September 12, 2013 - NCUA - September 2013 NCUA Board Meeting: Charitable Donations Rule Proposed - Charitable Donations Rule Proposed Board Also Streamlines Fixed Assets Rule and Approves Peoples Advantage Federal Credit Union Expansion.  www.ncua.gov/about/Documents/Board%20Actions/BAB20130912.pdf

September 12, 2013 - St. Louis Burgundy Book: Signs of Broader Recovery; Businesses Express Positive Third Quarter Outlook.   www.stlouisfed.org/newsroom/displayNews.cfm?article=1917

September 12, 2013 - Little Rock Burgundy Book: Overall Conditions Improve: Housing Market Strengthens While Manufacturing Activity Slows.   www.stlouisfed.org/newsroom/displayNews.cfm?article=1919

September 12, 2013 - Louisville Burgundy Book: Recovery Continues at a Steady Pace as Manufacturing and Residential Housing Sectors Improve.   www.stlouisfed.org/newsroom/displayNews.cfm?article=1918

September 12, 2013 - Memphis Burgundy Book: Even as Unemployment Rates Inch Up, Business Outlook Remains Positive.   www.stlouisfed.org/newsroom/displayNews.cfm?article=1920

September 11, 2013 - NCUA, VA Team Up to Increase Employment Opportunities for Veterans - The National Credit Union Administration has joined forces with the Department of Veterans Affairs to create more employment opportunities for veterans and promote greater workforce diversity in the agency through the Feds for Vets program. www.ncua.gov/News/Pages/NW20130911Veterans.aspx 

September 11, 2013 - OCC Releases CRA Evaluations for 20 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 July 1, 2013 through July 31, 2013.   www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-134.html

September 11, 2013 - Deputy Comptroller Discusses Risks Associated With Mortgage Lending - Deputy Comptroller for Credit and Market Risk Darrin Benhart today discussed risk and risk management associated with mortgage lending at a conference hosted by the Mortgage Bankers Association. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-133.html

September 10, 2013 - Approves Final Rule on the Definition of Deposit at Foreign Branches of U.S. Banks to Clarify That These Deposits are Not Insured by the FDIC - The Board of Directors of the Federal Deposit Insurance Corporation today approved a final rule clarifying that deposits in foreign branches of U.S. banks are not FDIC-insured, even though they can be deposits for purposes of the national depositor preference statute enacted in 1993. www.fdic.gov/news/news/press/2013/pr13081.html

September 10, 2013 - Federal Reserve Banks solicit input on improving the future U.S. payment system - The Federal Reserve Banks today announced the publication of their “Payment System Improvement – Public Consultation Paper” and an opportunity to provide input on the information, ideas and concepts in the document. http://fedpaymentsimprovement.org/wp-content/uploads/2013/09/ConsultationPaper_PressRelease.pdf

September 10, 2013 - NCUA - The NCUA Report for September 2013 Now Available.  www.ncua.gov/News/NewsLtrs/Pages/default.aspx

September 10, 2013 - NCUA - Fryzel to Credit Unions: “Important Work Remains. It’s Time to Make a Leap.” - Before a group of nearly 350 credit union professionals, National Credit Union Administration Board Member Michael E. Fryzel urged credit unions to make a leap. www.ncua.gov/News/Pages/NW20130910FryzelNAFCU.aspx

September 9, 2013 - NCUA Issues Cease and Desist Order - The Michigan Department of Insurance and Financial Services today liquidated Craftsman Credit Union of Detroit and appointed the National Credit Union Administration as liquidating agent. www.ncua.gov/News/Pages/NW20130906CraftsmanCUCloses.aspx

September 9, 2013 - Senior Deputy Comptroller Speaks to Military Bankers - Senior Deputy Comptroller for Midsize and Community Bank Supervision Jennifer Kelly today discussed issues facing bankers serving members of the U.S. armed forces and the U.S. military during the 2013 Association of Military Bankers of America conference. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-132.html

September 9, 2013 - FDIC Consumer Newsletter Features Financial Tips for Seniors - Consumers face financial issues in their retirement years ranging from how to maintain their lifestyle and pay for medical expenses on a fixed income to avoiding scams that target the elderly.  www.fdic.gov/news/news/press/2013/pr13080.html

September 9, 2013 - Consumer credit increased at an annual rate of 4-1/2 percent in July. Revolving credit decreased at an annual rate of 2-1/2 percent, while nonrevolving credit increased at an annual rate of 7-1/2 percent. www.federalreserve.gov/releases/g19/Current/default.htm

September 9, 2013 - Chairman Bernanke to host town hall meeting with educators - Chairman Ben S. Bernanke will host a town hall meeting with educators from across the country on November 13.  www.federalreserve.gov/newsevents/press/other/20130909a.htm

September 6, 2013 - Fed’s Evans Addresses Ag Bankers - Chicago Fed President Charles Evans spoke to the AgFirst Credit Bank September 6 about the economy during their 2013 Summit in Greenville, South Carolina. www.chicagofed.org/webpages/publications/speeches/2013/09_06_13_agfirst.cfm

September 6, 2013 - Understanding Small Business Climate Pre- and Post-Recession - This edition of ProfitWise News and Views summarizes results of a poll from various organizations that serve Chicago businesses. The findings illustrate the climate for small businesses both pre- and post-recession. www.chicagofed.org/digital_assets/publications/profitwise_news_and_views/2013/PNV_Aug2013_FINAL_Web.pdf

September 6, 2013 - NCUA’s Summer Intern Program Flourishes - Twenty-four college students from across the country gained real-world work experience over the past three months through the National Credit Union Administration’s Summer Intern Program. www.ncua.gov/News/Pages/NW20130906InternProgram.aspx

September 6, 2013 - In Search of the Recipe for Economic Growth - Is there a recipe for economic growth? Perhaps some Miracle-Gro for the economy? If only it were that easy. While the exact recipe is a mystery, economists have identified some of the key ingredients. http://research.stlouisfed.org/pageone-economics/pages/newsletter_summary.php?id=89&title=What+Are+the+%22Ingredients%22+for+Economic+Growth%3F

September 6, 2013 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

September 6, 2013 - Regulatory Reform - Communications with the public through September 6, 2013.   www.federalreserve.gov/newsevents/reform_meetings.htm

September 5, 2013 - Kansas City Fed announces officer appointments - The following officer appointments were recently announced by Esther George, president and chief executive officer of the Federal Reserve Bank of Kansas City: www.kc.frb.org/publicat/newsroom/2013pdf/press.release.09.05.13.pdf ____________________________

September 5, 2013 - Update on Financial Conditions - Both the NFCI and ANFCI moved up in August as financial conditions slightly tightened. - The Chicago Fed’s National Financial Conditions Index provides a comprehensive weekly update on U.S. financial conditions in money markets, debt and equity markets, and the traditional and “shadow” banking systems.   www.chicagofed.org/webpages/publications/nfci/index.cfm 

September 5, 2013 - Financial market stresses rise for third consecutive week, according to the St. Louis Fed Financial Stress Index - Financial market stresses remain lower than average, according to the St. Louis Fed Financial Stress Index, but they still rose for the third consecutive week.   www.stlouisfed.org/newsroom/displayNews.cfm?article=1909

September 5, 2013 - Eighth District House Prices Rise, Mortgage Delinquencies Fall in Second Quarter 2013 - Second quarter 2013 house prices continued to rise modestly while the number of seriously delinquent mortgages fell across the seven states that comprise the Federal Reserve's Eighth District compared with the same time last year, according to the St. Louis Fed’s latest Housing Market Conditions report. www.stlouisfed.org/newsroom/displayNews.cfm?article=1905

September 5, 2013 - Federal Reserve Board announces approval of application by Adams Bank & Trust - The Federal Reserve Board on Thursday announced its approval of the application of Adams Bank & Trust, Ogallala, Nebraska, to establish a branch at 370 North Franklin Avenue in Colby, Kansas. www.federalreserve.gov/newsevents/press/orders/20130905a.htm

September 5, 2013 - Federal Reserve Board issues enforcement action with Union City Corporation and announces termination of enforcement action with Midwest Independent Bancshares, Inc. and Midwest Independent Bank.   www.federalreserve.gov/newsevents/press/enforcement/20130905a.htm

September 5, 2013 - NCUA - Agenda for the 09/12/2013 NCUA Board Meeting is Available.   www.ncua.gov/about/BoardActions/Pages/BDMtg2013.aspx

September 5, 2013 - NCUA: Second-Quarter State Data Show Solid Loan, Membership Growth - A new analysis of state-level data for federally insured credit unions finds strong growth in loans and membership in the year ending June 30, 2013, according to the National Credit Union Administration. www.ncua.gov/News/Pages/NW20130905Qtr2MapReview.aspx

September 4, 2013 - Federal Reserve Releases September Beige Book and Related Sound Clip - Audio highlights of the Federal Reserve's Beige Book, which summarize economic conditions for the United States as a whole and the Fed's Eighth District, are available for downloading.
www.stlouisfed.org/newsroom/displayNews.cfm?article=1906
www.stlouisfed.org/newsroom/displayNews.cfm?article=1907

September 4, 2013 - 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/2013/pr13079.html

September 4, 2013 - Beige Book - Informal review by the Federal Reserve Banks of current economic conditions in their Districts - Reports from the twelve Federal Reserve Districts suggest that national economic activity continued to expand at a modest to moderate pace during the reporting period of early July through late August. www.federalreserve.gov/monetarypolicy/beigebook/beigebook201309.htm

September 4, 2013 - Federal Reserve offers 28-day term deposits with full allotment at 26 basis points though its Term Deposit Facility.   www.federalreserve.gov/newsevents/press/monetary/20130904a.htm

September 3, 2013 - Understanding Small Business Climate Pre- and Post-Recession - This edition of ProfitWise News and Views summarizes results of a poll from various organizations that serve Chicago businesses. The findings illustrate the climate for small businesses both pre- and post-recession.   www.chicagofed.org/digital_assets/publications/profitwise_news_and_views/2013/PNV_Aug2013_FINAL_Web.pdf

September 3, 2013 - Agencies provide model template for submission of tailored resolution plans - The Federal Reserve Board and the Federal Deposit Insurance Corporation on Tuesday released an optional model template for tailored resolution plans that certain firms will be submitting for the first time later this year.
Press Release: www.federalreserve.gov/newsevents/press/bcreg/20130903a.htm
Press Release: www.fdic.gov/news/news/press/2013/pr13078.html

September 3, 2013 - Office of the Comptroller of the Currency Hosts Workshops in Pittsburgh - The Office of the Comptroller of the Currency will host two workshops in Pittsburgh, Penn., at the Hyatt Regency Pittsburgh International Airport, Oct. 16-17, for directors of national community banks and federal savings associations. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-131.html

September 3, 2013 - Federal Reserve Board announces termination of enforcement actions with CIB Marine Bancshares and Pacific Commerce Bank.  www.federalreserve.gov/newsevents/press/enforcement/20130903a.htm