The E-mail Banking News
(Bank Regulatory News)
September 2015

September 30, 2015 - Midwest Growth Still Slightly Below Average in August - The Midwest Economy Index was –0.12 in August, down from –0.11 in July. The relative MEI declined to –0.23 in August from –0.06 in July.  www.chicagofed.org/~/media/publications/mei/2015/mei-august2015-pdf.pdf?la=en 

September 30, 2015 - Governor Lael Brainard - At the Community Banking in the 21st Century, The Third Annual Community Banking Research and Policy Conference, Cosponsored by the Federal Reserve System and Conference of State Bank Supervisors, Federal Reserve Bank of St. Louis, St. Louis, Missouri.   www.federalreserve.gov/newsevents/speech/brainard20150930a.htm

September 30, 2015 - Regulatory Reform - Discount Window Lending, 2013:Q3 - The discount window helps to relieve liquidity strains for individual depository institutions and for the banking system as a whole by providing a reliable backup source of funding. Much of the statutory framework that governs lending to depository institutions is contained in section 10B of the Federal Reserve Act.  www.federalreserve.gov/newsevents/reform_discount_window.htm

September 30, 2015 - Hanging on every word: Semantic analysis of the FOMC's postmeeting statement - Ellen Meade, Miguel Acosta1 - The Federal Open Market Committee's postmeeting statements constitute one of the key vehicles through which the Committee communicates its assessment of the economy, its policy actions, and its thinking about future policy.  www.federalreserve.gov/econresdata/notes/feds-notes/2015/semantic-analysis-of-the-FOMCs-postmeeting-statement-20150930.html

September 30. 2015 - Chair Janet L. Yellen - Welcoming Remarks - At the Community Banking in the 21st Century, The Third Annual Community Banking Research and Policy Conference, Cosponsored by the Federal Reserve System and Conference of State Bank Supervisors, Federal Reserve Bank of St. Louis, St. Louis, Missouri.   www.federalreserve.gov/newsevents/speech/yellen20150930a.pdf

September 30, 2015 - Federal Reserve Board announces approval of applications by M&T Bank Corporation.  www.federalreserve.gov/newsevents/press/orders/20150930a.htm

September 30, 2015 - NCUA Issues Prohibition Orders - The National Credit Union Administration has issued three orders in September prohibiting the following individuals from participating in the affairs of any federally insured financial institution.  www.ncua.gov/News/Pages/NW20150930NCUA-Issues-Prohibition-Orders.aspx

September 30, 2015 - NCUA: Credit Unions Can Help Members Affected by California Fires - Credit unions in California counties affected by recent fires can make prudent efforts to help members in those areas, the National Credit Union Administration said today. www.ncua.gov/News/Pages/NW20150930NCUA-Credit-Unions-Can-Help-Members-Affected-by-California-Fires.aspx

September 29, 2015 - Bank Accounting Advisory Series Updated - The Office of the Comptroller of the Currency today released an update to the Bank Accounting Advisory Series.   www.occ.gov/news-issuances/news-releases/2015/nr-occ-2015-132.html

September 29, 2015 - Recent Trends in Communications Equipment Prices - David Byrne and Carol Corrado - In a recently published working paper, Prices for Communications Equipment: Rewriting the Record, the authors of this note provide new estimates of prices for communications equipment for the period 1963 to 2009.   www.federalreserve.gov/econresdata/notes/feds-notes/2015/recent-trends-in-communications-equipment-pricing-20150929.htm

September 29, 2015 - Thomas Sullivan, Associate Director, Division of Banking Supervision and Regulation Insurance Regulation - Before the Subcommittee on Housing and Insurance, Committee on Financial Services, U.S. House of Representatives , Washington, D.C. www.federalreserve.gov/newsevents/testimony/sullivan20150929a.htm

September 29, 2015 - Federal Reserve Board announces Community Depository Institutions Advisory Council members for 2016 - The Federal Reserve Board on Tuesday announced the members of its Community Depository Institutions Advisory Council and the president and vice president of the council for 2016.   www.federalreserve.gov/newsevents/press/other/20150929a.htm

September 29, 2015 - Federal Reserve Board issues termination of enforcement action with Carver Bancorp, Inc. www.federalreserve.gov/newsevents/press/enforcement/20150929a.htm

September 28, 2015 - Fed’s Evans Addresses Wisconsin Business Leaders - Chicago Fed President Charles Evans talked about monetary policy and the economy September 28, during the Marquette University Business Leaders Forum in Milwaukee, WI. www.chicagofed.org/publications/speeches/2015/marquette-thoughts-on-leadership-and-monetary-policy 

September 28, 2015 - NCUA Previews New Public Website - Stakeholder Feedback on New Design, Functionality Welcomed - The National Credit Union Administration today invited stakeholders to preview and provide feedback on the design, functionality and navigation of a preview version of the agency’s new public website. www.ncua.gov/News/Pages/NW20150928Previews-New-Public-Website.aspx

September 28, 2015 - NCUA - Fair Lending Webinar Will Help Credit Unions Understand and Comply with Law - Credit unions can get valuable information on complying with fair lending laws during a webinar, “2015 Interagency Fair Lending Hot Topics,” sponsored by the Federal Reserve System. www.ncua.gov/News/Pages/NW20150928Fair-Lending-Webinar.aspx

September 28, 2015 - St. Louis Fed’s Louisville Branch to Host 'E-STEM Women at Work' Day for High School Students - Women in business and female students in high school from across the Louisville area will meet at the Louisville Branch of the Federal Reserve Bank of St. Louis for an “E-STEM Women at Work” day on Sept. 29, 2015. www.stlouisfed.org/news-releases/2015/09/28/st-louis-feds-louisville-branch-to-host-estem-women-at-work-day-for-high-school-students

September 28, 2015 - Governor Daniel K. Tarullo - Capital Regulation Across Financial Intermediaries- At the Banque de France Conference: Financial Regulation--Stability versus Uniformity; A Focus on Non-bank Actors, Paris, France.  www.federalreserve.gov/newsevents/speech/tarullo20150928a.htm

September 28, 2015 - Agencies announce EGRPRA outreach meeting in Chicago - The federal banking agencies will hold an outreach meeting on Monday, October 19, 2015, at the Federal Reserve Bank of Chicago as part of their regulatory review under the Economic Growth and Regulatory Paperwork Reduction Act of 1996.
Press Release: www.federalreserve.gov/newsevents/press/other/20150928a.htm
Press Release: www.fdic.gov/news/news/press/2015/pr15075.html
Press Release: www.occ.gov/news-issuances/news-releases/2015/nr-ia-2015-131.html

September 25, 2015 - OCC Releases Fiscal Year 2016 Bank Supervision Operating Plan - The Office of the Comptroller of the Currency today released its bank supervision operating plan for fiscal year 2016. www.occ.gov/news-issuances/news-releases/2015/nr-occ-2015-130.html

September 25, 2015 - FDIC Makes Public August Enforcement Actions; - No Administrative Hearings Scheduled for October 2015 - The Federal Deposit Insurance Corporation today released a list of orders of administrative enforcement actions taken against banks and individuals in August. www.fdic.gov/news/news/press/2015/pr15074.html

September 25, 2015 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update - Since the beginning of the financial market turmoil in August 2007, the Federal Reserve's balance sheet has grown in size and has changed in composition.  www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

September 25, 2015 - Statistical Release - Finance Companies - G.20.  www.federalreserve.gov/releases/g20/Current/

September 25, 2015 - Frequently Asked Questions - Section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act.  www.federalreserve.gov/bankinforeg/volcker-rule/faq.htm

September 24, 2015 - Speech by Chair Janet L. Yellen - Inflation Dynamics and Monetary Policy.  www.federalreserve.gov/newsevents/speech/yellen20150924a.htm
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September 25, 2015 - FDIC Makes Public August Enforcement Actions - 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 2015. https://www.fdic.gov/news/news/press/2015/pr15074.html

September 24, 2015 - Recent Trends in Capital Accumulation and Implications for Investment - François Gourio , Thomas H. Klier - Business investment has been fairly low over the past several years. As a result, the growth in the stock of capital has not kept up with the growth in gross domestic product or employment.  www.chicagofed.org/~/media/publications/chicago-fed-letter/2015/cfl344-pdf.pdf

September 24, 2015 - Chicago Fed National Activity Index - Index shows economic growth slowed in August - Led by declines in production-related indicators, the Chicago Fed National Activity Index fell to –0.41 in August from +0.51 in July.  www.chicagofed.org/~/media/publications/cfnai/2015/cfnai-september2015-pdf.pdf?la=en

September 24, 2015 - Financial Market Stress Declines for Third Consecutive - Financial market stress declined last week for the third week in a row, according to the St. Louis Fed Financial Stress Index. For the week ending Sept. 18, the index measured -0.715, a modest decline from the previous week’s revised value of -0.684.   www.stlouisfed.org/news-releases/2015/09/24/financial-market-stress-declines-for-third-consecutive-week

September 24, 2015 - Fed/CSBS 2015 Community Banking Research Conference Will Be Webcast Live Sept. 30-Oct. 1 - Community bankers, academics, policymakers and bank supervisors from around the country will meet Sept. 30-Oct. 1, 2015, in St. Louis for “Community Banking in the 21st Century,” the annual community banking research and policy conference hosted by the Federal Reserve System and the Conference of State Bank Supervisors. www.stlouisfed.org/news-releases/2015/09/24/2015-community-banking-research-conference-will-be-webcast-live

September 24, 2015 - Regulatory Relief - Guidance to Help Financial Institutions and Facilitate Recovery in Areas of California Affected by the Valley Fire - The FDIC announced a series of steps intended to provide regulatory relief to financial institutions and to facilitate recovery in areas of California affected by the Valley Fire. www.fdic.gov/news/news/financial/2015/fil15041.html

September 24, 2015 - The Effects of FOMC Communications before Policy Tightening in 1994 and 20041 - Ellen E. Meade, Yoshio Nozawa, Lubomir Petrasek, and Joyce K. Zickler - The ways in which the Federal Open Market Committee communicates its views on economic and financial conditions, the economic outlook, and its policy intentions have evolved over time.  www.federalreserve.gov/econresdata/notes/feds-notes/2015/effects-of-fomc-communications-before-policy-tightening-in-1994-and-2004-20150924.html

September 24, 2015 - Reports and Surveys - Semiannual Report on Banking Applications Activity.  www.federalreserve.gov/bankinforeg/semiannual-report-on-banking-applications-20150924.pdf

September 23, 2015 - NCUA Schedules Closed Board Meeting - The National Credit Union Administration has scheduled a closed Board meeting for Thursday, Sept. 24, 2015, beginning at 6 p.m. to consider a supervisory matter. www.ncua.gov/News/Pages/NW20150923Closed-Meeting.aspx

September 23, 2015 - NCUA Returns Control of Keys Federal Credit Union to Members - Keys Federal Credit Union, of Key West, Florida, is once again under the control of its members, the National Credit Union Administration announced today. www.ncua.gov/News/Pages/NW20150923Keys-Conservatorship.aspx

September 23, 2015 - U.S. Economic Update - Gunnison Economic Forum September 23, 2015 George A. Kahn Vice President and Economist Grand Junction Economic Forum September 24, 2015.  www.kansascityfed.org/~/media/files/publicat/speeches/2015/kahn_colorado_outlook_0915.pdf

September 23, 2015 - U.S & Colorado Economic Update - Alison Felix Economist & Branch Executive Federal Reserve Bank of Kansas City Denver Branch.   www.kansascityfed.org/~/media/files/publicat/speeches/2015/2015-felix-wscustudents-09-23.pdf

September 23, 2015 - Federal Reserve Board approves enhancements to Reserve Banks' same-day ACH service - The Federal Reserve Board on Wednesday announced the approval of enhancements to the Federal Reserve Banks' same-day automated clearing house service. www.federalreserve.gov/newsevents/press/other/20150923a.htm

September 22, 2015 - Federal Financial Institutions Examination Council Announces Availability of 2014 Data on Mortgage Lending - The Federal Financial Institutions Examination Council today announced the availability of data on mortgage lending transactions at 7,062 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/NW20150922FFIEC-2014-Data.aspx

September 22, 2015 - The Federal Financial Institutions Examination Council today announced the availability of data on mortgage lending transactions at 7,062 U.S. financial institutions covered by the Home Mortgage Disclosure Act.  www.ffiec.gov/press/pr092215.htm

September 22, 2015 - Consolidated Reports of Condition and Income - The Federal Financial Institutions Examination Council has approved a number of proposed burden-reducing changes to the Consolidated Reports of Condition and Income as part of its community bank Call Report burden-reduction initiative. www.fdic.gov/news/news/financial/2015/fil15040.html

September 22, 2015 - Structure Data for U.S. Banking Offices of Foreign Entities.  www.federalreserve.gov/releases/iba/201506/default.htm

September 22, 2015 - Revised Interagency Examination Procedures for Regulation Z and Regulation X.  www.federalreserve.gov/bankinforeg/caletters/CA_15-6.pdf

September 22, 2015 - International Dollar Flows - Ayelen Banegas, Ruth Judson, Charles Sims, and Viktors Stebunovs - Using confidential Federal Reserve data, we study the factors driving U.S. banknote flows between the United States and other countries. www.federalreserve.gov/econresdata/ifdp/2015/files/ifdp1144.pdf

September 22, 2015 - The 2014 Home Mortgage Disclosure Act Data Draft - Neil Bhutta and Daniel R. Ringo - This article provides an overview of the 2014 data reported under the Home Mortgage Disclosure Act of 1975 and analyzes mortgage market activity over time as well as lending patterns across different demographic groups and lender types. www.federalreserve.gov/pubs/bulletin/default.htm

September 22, 2015 - Federal Reserve Board issues enforcement action with First State Bank of Colorado and termination of enforcement action with Liberty Bancorp of Georgia, Inc. www.federalreserve.gov/newsevents/press/enforcement/20150922a.htm

September 22, 2015 - Federal Reserve Board announces Community Advisory Council members - The Federal Reserve Board on Tuesday announced the members of its newly created Community Advisory Council.  www.federalreserve.gov/newsevents/press/other/20150922a.htm

September 21, 2015 - Risk Perspectives: Highlights of Risk Monitoring in the Seventh District - The Federal Reserve Bank of Chicago's supervision group follows current and emerging risk trends on an ongoing basis.  www.chicagofed.org/publications/risk-perspectives/2015-2019/2015-quarter-three

September 21, 2015 - OCC Reports Second Quarter Bank Trading Revenue of $5.5 Billion - Insured U.S. commercial banks and savings institutions reported trading revenue of $5.5 billion in the second quarter of 2015, $2.2 billion lower (28 percent) than 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/2015/nr-occ-2015-129.html

September 21, 2015 - Can We Rely on Market-Based Inflation Forecasts? - Michael D. Bauer and Erin McCarthy - A substantial decline in market-based measures of inflation expectations has raised concerns about low future inflation. An important question to address is whether the forecasts based on market information are as accurate as alternative forecasting methods. www.frbsf.org/economic-research/publications/economic-letter/2015/september/market-based-inflation-forecasting-and-alternative-methods/

September 21, 2015 - 2016 Federal Reserve Note Print Order - The Board of Governors, as the issuing authority for Federal Reserve notes, approved and submitted its fiscal year 2016 order for nearly 7.6 billion Federal Reserve notes, valued at $213.3 billion, to the U.S. Treasury Department’s Bureau of Engraving and Printing on July 24, 2015.   www.federalreserve.gov/paymentsystems/coin_currency_orders.htm

September 21, 2015 - Transfer of SAFE Act Supervisory Responsibilities and Publication of SAFE Act Examination Procedures.   www.federalreserve.gov/bankinforeg/caletters/caltr1505.htm

September 21, 2015 - Does Salient Financial Information Affect Academic Performance and Borrowing Behavior among College Students? - Maximilian Schmeiser, Christiana Stoddard, and Carly Urban - While rising student loan debt can plague college students future finances, few federal programs have been instituted to educate college students on the mechanics of student loan borrowing.  www.federalreserve.gov/econresdata/feds/2015/files/2015075pap.pdf

September 21,2015 - Forecasting with Sufficient Dimension Reductions - Alessandro Barbarino and Efstathia Bura - Factor models have been successfully employed in summarizing large datasets with few underlying latent factors and in building time series forecasting models for economic variables.  www.federalreserve.gov/econresdata/feds/2015/files/2015074pap.pdf

September 21, 2015 - End of the Line: Behavior of HELOC Borrowers Facing Payment Changes - Kathleen W. Johnson and Robert F. Sarama - An important question in the household finance literature is whether a change in required debt payments affects borrower behavior.  www.federalreserve.gov/econresdata/feds/2015/files/2015073pap.pdf

September 21,2015 - Reconciling Full-Cost and Marginal-Cost Pricing - Jacob P. Gramlich and Korok Ray - Despite the clear prescription from economic theory that a firm should set price based only on variable costs, firms routinely factor fixed costs into pricing decisions.   www.federalreserve.gov/econresdata/feds/2015/files/2015072pap.pdf

September 21, 2015 - The Effects of Asymmetric Volatility and Jumps on the Pricing of VIX Derivatives - Yang-Ho Park - This paper proposes a new collection of affine jump-diffusion models for the valuation of VIX derivatives. The models have two distinctive features.  www.federalreserve.gov/econresdata/feds/2015/files/2015071pap.pdf

September 21, 2015 - How House Price Dynamics and Credit Constraints affect the Equity Extraction of Senior Homeowners - Stephanie Moulton, Samuel Dodini, Donald R. Haurin, and Maximilian D. Schmeiser - Households can borrow against equity through different channels, including home equity lines of credit, second liens, cash-out refinancing, and--for senior homeowners--reverse mortgages.  www.federalreserve.gov/econresdata/feds/2015/files/2015070pap.pdf

September 21, 2015 - Prices for Communications Equipment: Rewriting the Record - David M. Byrne and Carol A. Corrado - Communication equipment plays as large a role in high-tech investment as computers, yet prices for communication equipment have not been studied as extensively as prices for computers and electronic components.  www.federalreserve.gov/econresdata/feds/2015/files/2015069pap.pdf

September 21,2015 - Risk Taking and Low Longer-term Interest Rates: Evidence from the U.S. Syndicated Loan Market - Sirio Aramonte, Seung Jung Lee, and Viktors Stebunovs - We use supervisory data to investigate risk taking in the U.S. syndicated loan market at a time when longer-term interest rates are exceptionally low, and we study the ex-ante credit risk of loans acquired by different types of lenders, including banks and shadow banks. www.federalreserve.gov/econresdata/feds/2015/files/2015068pap.pdf

September 21, 2015 - Government-Administered, General-Use Prepaid Cards - The Board's annual report to the Congress on the use of general-use prepaid cards in federal, state, and local government-administered payment programs and on the interchange fees and cardholder fees charged with respect to the use of those cards. www.federalreserve.gov/publications/other-reports/default.htm

September 21, 2015 - Advisory Council - Record of the Meeting of the Federal Advisory Council and the Board of Governors.  www.federalreserve.gov/aboutthefed/fac.htm

September 21, 2015 - Federal Reserve Board announces approval of application by Empresas Juan Yarur SpA.  www.federalreserve.gov/newsevents/press/orders/20150921b.htm

September 21, 2015 - Federal Reserve Board announces approval of proposal by PacWest Bancorp.  www.federalreserve.gov/newsevents/press/orders/20150921a.htm 

September 19, 2015 - St. Louis Fed's Bullard Discusses Normalization of U.S. Monetary Policy - Federal Reserve Bank of St. Louis President James Bullard discussed the case for monetary policy normalization at the annual meeting of the Community Bankers Association of Illinois on Saturday. www.stlouisfed.org/news-releases/2015/09/19/st-louis-feds-bullard-discusses-normalization-of-us-monetary-policy

September 18, 2015 - Montauk Credit Union Conserved - Member Deposits Remain Protected to $250,000; Member Services Uninterrupted - The New York State Department of Financial Services today took possession of Montauk Credit Union, located in New York, New York, and appointed the National Credit Union Administration as conservator. www.ncua.gov/News/Pages/NW20150918Montauk.aspx

September 18, 2015 - Bethex Federal Credit Union Conserved - Member Deposits Insured up to $250,000, Member Services Uninterrupted - The National Credit Union Administration today placed Bethex Federal Credit Union in Bronx, New York, into conservatorship. www.ncua.gov/News/Pages/NW20150918Bethex-Federal-Credit-Union.aspx

September 18, 2015 - 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/2015/nr-occ-2015-128.html

September 18, 2015 - Proposed Revisions to the Consolidated Reports of Condition and Income - The Federal Deposit Insurance Corporation , the Federal Reserve Board, and the Office of the Comptroller of the Currency are requesting comment on proposed revisions to the Call Report that would take effect December 31, 2015, or March 31, 2016, depending on the nature of the change.  www.fdic.gov/news/news/financial/2015/fil15039.html

September 18, 2015 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update - Since the beginning of the financial market turmoil in August 2007, the Federal Reserve's balance sheet has grown in size and has changed in composition.  www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

September 18, 2015 - Statistical Release Financial Accounts of the United States - Z.1.  www.federalreserve.gov/releases/z1/current/
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September 18, 2015 - OCC Enforcement Actions - The Office of the Comptroller of the Currency (OCC) 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. http://www.occ.treas.gov/news-issuances/news-releases/2015/nr-occ-2015-128.html

September 16,2015 - NCUA Agrees to $129.6 Million Offer from Royal Bank of Scotland - Recoveries in Securities Cases Reach More than $1.9 Billion - The National Credit Union Administration today announced acceptance of an offer of judgment for $129.6 million from the Royal Bank of Scotland to resolve claims arising from losses related to purchases of residential mortgage-backed securities by Members United and Southwest corporate credit unions. www.ncua.gov/News/Pages/NW20180916Bank-of-Scotland.aspx

September 15,2015 - NCUA Taps Monaco as Chief Economist -News, Media and Events > NCUA Taps Monaco as Chief Economist - National Credit Union Administration Board Chairman Debbie Matz today announced the selection of Ralph Monaco as the agency’s Chief Economist. www.ncua.gov/News/Pages/NW20150915Chief-Economist.aspx

September 15,2015 - Statistical Release - Industrial Production and Capacity Utilization - G.17 - Industrial production decreased 0.4 percent in August after increasing 0.9 percent in July. The increase in July is now estimated to be greater than originally reported last month, largely as a result of upward revisions for mining and utilities.   www.federalreserve.gov/releases/g17/Current/default.htm

September 14,2015 - A New Approach to Stock Market Execution - Chicago Fed Letter discusses the purpose and operation of a proposed new on-demand batch auction service in the high-frequency trading environment. www.chicagofed.org/~/media/publications/chicago-fed-letter/2015/cfl343-pdf.pdf

September 14,2015 - Deposit Insurance Coverage Seminars - Free Nationwide Seminars for Bank Officers and Employees - The FDIC will conduct four identical live seminars on FDIC deposit insurance coverage for bank employees and bank officers between September 24, 2015, and December 2, 2015.  www.fdic.gov/news/news/financial/2015/fil15038.html

September 11,2015 - September 11,2015 - New NCUA Videos Aim to Improve Credit Union Directors’ Leadership Skills - New Training Online Series Outlines the Keys to Effective Board Leadership - Credit union board members will be able to find valuable information to help them be more successful in a new video series being offered by the National Credit Union Administration. www.ncua.gov/News/Pages/NW20150911OnlineTraining.aspx

September 11,2015 - OCC Encourages Banks and Savings Associations To Be Prepared - The Office of the Comptroller of Currency reminds national banks and federal savings associations to maintain effective plans to respond to natural disasters and other emergencies. www.occ.gov/news-issuances/news-releases/2015/nr-occ-2015-126.html

September 11,2015 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update - Since the beginning of the financial market turmoil in August 2007, the Federal Reserve's balance sheet has grown in size and has changed in composition. Total assets of the Federal Reserve have increased significantly from $869 billion on August 8, 2007, to well over $2 trillion. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm
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September 10,2015 - Financial Market Stress Declines Over Previous Week - Financial market stress eased in the latest reporting week after rising sharply over the previous two weeks. For the week ending Sept. 4, the St. Louis Fed Financial Stress Index measured -0.591, down modestly from the previous week’s revised value of -0.517 and the first decline since the week ending July 24. www.stlouisfed.org/news-releases/2015/09/10/financial-market-stress-declines-over-previous-week

September 10,2015 - Federal Reserve System appoints payments security strategy leader - The Federal Reserve System on Thursday announced the appointment of Federal Reserve Bank of Chicago Senior Vice President Todd Aadland as its Payments Security Strategy Leader. www.federalreserve.gov/newsevents/press/other/20150910a.htm

September 10,2015 - Federal Reserve Board issues enforcement action with Independent Bank.  www.federalreserve.gov/newsevents/press/enforcement/enf20150910a1.pdf

September 10,2015 - NCUA: State Data Show Median Loan Growth at 4 Percent in Year Ending June 30 - ?Median Asset and Deposits Growth Up, Median Delinquency Rates Down - Median loan growth in federally insured credit unions was 4 percent during the year ending June 30, 2015, according to state-level data compiled by the National Credit Union Administration. www.ncua.gov/News/Pages/NW20150910QuarterlyMapReview.aspx

September 10,2015 - New NCUA Consumer Assistance Center Technology Improves Complaint Resolution - ?Consumers Will Be First to Use New Technology, Credit Unions to Follow Soon -Resolving consumer complaints will be easier and more efficient thanks to improved online Consumer Assistance Center technology launched today by the National Credit Union Administration. www.ncua.gov/News/Pages/NW20150910ConsumerAssistanceCenter.aspx   

September 9,2015 - NCUA - Agenda for the 9/17/15 Board Meeting is Available.  www.ncua.gov/News/Pages/AllNewsSummary.aspx

September 9,2015 - Comptroller of the Currency Discusses Urban Stabilization and Revitalization - Comptroller of the Currency Thomas J. Curry today discussed urban stabilization and revitalization during remarks at the City Club of Cleveland. www.occ.gov/news-issuances/speeches/2015/pub-speech-2015-125.pdf

September 9,2015 - Bank Holding Company Supervision Manual - Provides guidance for conducting inspections of bank holding companies and their nonbank subsidiaries. The supervisory objectives of the inspection program are to ascertain whether the financial strength of the bank holding company is being maintained on an ongoing basis and to determine the effects or consequences of transactions between a holding company or its nonbanking subsidiaries and its subsidiary banks. www.federalreserve.gov/boarddocs/supmanual/bhc/bhc.pdf

September 8,2015 - Assessing Supervisory Scenarios for Interest Rate Risk - Jens H.E. Christensen and Jose A. Lopez - A new proposal by the Basel Committee on Banking Supervision for setting the amount of capital banks must hold against potential losses from interest rate risk uses only a few, very stylized scenarios. Analysis shows the proposed scenarios are extremely unlikely to occur. www.frbsf.org/economic-research/publications/economic-letter/2015/september/assessing-basel-bank-supervision-scenarios-for-interest-rate-risk/

September 8,2015 - OCC Hosts Compliance and Credit Risk Workshops in Dallas - The Office of the Comptroller of the Currency will host two workshops in Dallas at the Wyndham Dallas Suites – Park Central, October 20-21, for directors of national community banks and federal savings associations. www.occ.gov/news-issuances/news-releases/2015/nr-occ-2015-124.html

September 8,2015 - The Federal Financial Institutions Examination Council today detailed steps regulators are taking to streamline and simplify regulatory reporting requirements for community banks and reduce their reporting burden. www.ffiec.gov/press/pr090815.htm

September 8,2015 - Final Rule: Military Lending Act - The Department of Defense issued a final rule amending the implementing regulations of the Military Lending Act of 2006. The final rule expands specific protections provided to service members and their families under the MLA and addresses a wider range of credit products than the DOD's previous regulation.  www.fdic.gov/news/news/financial/2015/fil15037.html

September 8,2015 - FDIC Announces Settlement with Comenity Bank and Comenity Capital Bank for Deceptive Practices Related to Credit Card Add-On Products -
Settlement includes approximately $61.5 million in restitution to consumers - The Federal Deposit Insurance Corporation today announced a settlement with Comenity Bank, Wilmington, Delaware, and Comenity Capital Bank, Salt Lake City, Utah, for deceptive practices related to the marketing and servicing of credit card "add-on products," in violation of Section 5 of the Federal Trade Commission Act. The banks are both wholly-owned subsidiaries of Comenity, LLC, Columbus, Ohio. www.fdic.gov/news/news/press/2015/pr15073.html

September 8,2015 - Consumer Credit - G.19 - In July, consumer credit increased at a seasonally adjusted annual rate of 6-3/4 percent. Revolving credit increased at an annual rate of 5-3/4 percent, while nonrevolving credit increased at an annual rate of 7 percent. www.federalreserve.gov/releases/g19/current/default.htm

September 8,2015 - Federal Reserve Board issues termination of enforcement action with First National Community Bancorp, Inc. www.federalreserve.gov/newsevents/press/enforcement/20150908a.htm

September 4,2015 - OCC Releases CRA Evaluations for 30 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 August 1, 2015 through August 31, 2015. www.occ.gov/news-issuances/news-releases/2015/nr-occ-2015-123.html

September 4,2015 - Credit and Liquidity Programs and the Balance Sheet
Recent balance sheet trends, weekly chart update - Since the beginning of the financial market turmoil in August 2007, the Federal Reserve's balance sheet has grown in size and has changed in composition. Total assets of the Federal Reserve have increased significantly from $869 billion on August 8, 2007, to well over $2 trillion. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm
____________________________September 3, 2015 - Agencies Approve Bank of America to Begin Using Advanced Approaches Framework to Determine Risk-Based Capital Requirements - The Federal Reserve Board and the Office of the Comptroller of the Currency today announced that they have approved Bank of America and its subsidiary national banks to begin using the “advanced approaches” capital framework starting in the fourth quarter of 2015. www.occ.gov/news-issuances/news-releases/2015/nr-ia-2015-122.html

September 3, 2015 - Financial Market Stress Rises Sharply - Financial market stress rose sharply for the second straight week, according to the St. Louis Fed Financial Stress Index. For the week ending Aug. 28, the index measured -0.513, up markedly from the previous week’s revised value of -0.811.  www.stlouisfed.org/news-releases/2015/09/03/financial-market-stress-rises-sharply

September 3, 2015 - 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/2015/pr15072.html

September 3, 2015 - The Runnables1 - Jack Bao, Josh David, and Song Han - Runs are an inherent vulnerability of the markets for short-term funding. Financial crises since the advent of banking have often exhibited systemic bank runs. www.federalreserve.gov/econresdata/notes/feds-notes/2015/the-runnables-20150903.html

September 3, 2015 - Agencies approve Bank of America to begin using advanced approaches framework to determine risk-based capital requirements - The Federal Reserve Board and the Office of the Comptroller of the Currency today announced that they have approved Bank of America and its subsidiary national banks to begin using the "advanced approaches" capital framework starting in the fourth quarter of 2015. www.federalreserve.gov/newsevents/press/bcreg/20150903a.htm

September 3, 2015 - Federal Reserve Board announces approval of application by Banner Corporation and Elements Merger Sub LLC.   www.federalreserve.gov/newsevents/press/orders/orders20150903a1.pdf

September 3, 2015 - NCUA - Membership in Federally Insured Credit Unions Tops 101 Million - Loan Growth Continues, Loan Losses Fall in Second Quarter - More than 101 million Americans had joined credit unions by the end of the second quarter of 2015, and the system continued to expand lending to meet those members’ needs, the National Credit Union Administration reported today. www.ncua.gov/News/Pages/NW20150903PACAFacts.aspx

September 2, 2015 - Bubbles and Fools - Economic Perspectives article discusses two approaches to modeling greater-fool theories of asset bubbles, as well as their policy implications.   www.chicagofed.org/~/media/publications/economic-perspectives/2015/2q2015-part2-barlevy-pdf.pdf 

September 2, 2015 - FDIC-Insured Institutions Earn $43 Billion in Second Quarter 2015 - Community Bank Earnings Rise 12 Percent to $5.3 Billion - Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation reported aggregate net income of $43.0 billion in the second quarter of 2015, up $2.9 billion (7.3 percent) from a year earlier and the highest quarterly income on record.  www.fdic.gov/news/news/press/2015/pr15071.html

September 2, 2015 - Beige Book - Informal review by the Federal Reserve Banks of current economic conditions in their Districts.   www.federalreserve.gov/monetarypolicy/beigebook/beigebook201509.htm

September 1, 2015 - Consumer Credit Trends by Income and Geography in 2001–12 - Gene Amromin , Leslie McGranahan , Diane Whitmore Schanzenbach - As economists have tried to understand the causes of the Great Recession and its consequences for households and firms, a consensus has emerged:  www.chicagofed.org/publications/chicago-fed-letter/2015/342

September 1, 2015 - NCUA - New Online Search Tool Makes Finding Credit Union Information Easier - NCUA’s Credit Union Locator Has New Look, Search and Mapping Functions - Finding detailed information about federally insured credit unions just got easier, courtesy of an improved online research tool released today by the National Credit Union Administration. www.ncua.gov/News/Pages/NW20150901NewSearchTool.aspx

September 1, 2015 - FOIA - Chair Yellen's calendar, July 2015.  www.federalreserve.gov/foia/files/chair-yellen-calendar-072015.pdf

September 1, 2015 - Federal Reserve Board issues termination of enforcement action with Virginia Community Bankshares, Inc. and Virginia Community Bank.   www.federalreserve.gov/newsevents/press/enforcement/20150901a.htm