The E-mail Banking News
(Bank Regulatory News)
September 2016

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September 30, 2016 - Midwest Economic Growth Picked Up Slightly in August - The Midwest Economy Index was –0.04 in August, up from –0.16 in July. www.chicagofed.org/~/media/publications/mei/2016/mei-august2016-pdf.pdf?la=en

September 30, 2016 - Mortgage Performance Improves in Second Quarter of 2016 - Performance of first-lien mortgages improved during the second quarter of 2016 compared with a year earlier, according to the Office of the Comptroller of the Currency’s quarterly report on mortgages. https://occ.gov/news-issuances/news-releases/2016/nr-occ-2016-120.html  

September 30, 2016 - St. Louis Fed Economists Present: Taking the Measure of St. Louis - Economists will look at economic measures beyond the headline numbers to show how the St. Louis area compares to other regions Wednesday, Oct. 5, 2016.  www.stlouisfed.org/news-releases/2016/09/30/st-louis-fed-economists-present-taking-the-measure-of-st-louis

September 30, 2016 - FDIC Makes Public August Enforcement Actions; One Administrative Hearing Scheduled for October 2016 - The Federal Deposit Insurance Corporation today released a list of orders of administrative enforcement actions taken against banks and individuals in August. One administrative hearing is scheduled for October 2016. www.fdic.gov/news/news/press/2016/pr16084.html

September 30, 2016 - FDIC Releases Updated Summary of Deposits Annual Survey - The Federal Deposit Insurance Corporation Friday released the survey of branch office deposits as of June 30, 2016, for all FDIC-insured institutions.  www.fdic.gov/news/news/press/2016/pr16083.html

September 30, 2016 - Statistical Release - Structure Data for U.S. Banking Offices of Foreign Entities. www.federalreserve.gov/releases/iba/201606/default.htm

September 30, 2016 - Statistical Release - Finance Companies - G.20 - Owned and Managed Receivables Outstanding Seasonally adjusted. Billions of dollars except as noted. www.federalreserve.gov/releases/g20/current/g20.htm

September 30, 2016 - Reports - Semiannual Report on Banking Applications Activity: January 1 - June 30, 2016 - This report provides information regarding the applications filed by banking organizations and reviewed by the Federal Reserve as of the most recent reporting period ending on June 30 and December 31 of each calendar year. www.federalreserve.gov/bankinforeg/semiannual-report-on-banking-applications-20160930.pdf

September 30, 2016 - Regulatory Reform - Discount Window Lending, Third Quarter 2014 - 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. www.federalreserve.gov/newsevents/reform_discount_window.htm
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September 29, 2016 - OCC Assesses Penalty Against Wells Fargo; Orders Restitution for Violations of the Servicemembers Civil Relief Act - The Office of the Comptroller of the Currency today assessed a $20 million civil money penalty against Wells Fargo Bank, N.A., and ordered the bank to make restitution to servicemembers who were harmed by the bank’s violations of the Servicemembers Civil Relief Act https://occ.gov/news-issuances/news-releases/2016/nr-occ-2016-119.html

September 29, 2016 - OCC Publishes Final Guidelines for Large Bank Recovery Plans - The Office of the Comptroller of the Currency today released final guidelines for recovery planning by large insured OCC-regulated institutions. https://occ.gov/news-issuances/news-releases/2016/nr-occ-2016-118.html

September 29, 2016 - U.S. and Oklahoma Economic Update - Pension Trustee Education Conference September 29, 2016 - By Chad Wilkerson Vice President, Economist, and Oklahoma City Branch Executive www.kansascityfed.org/~/media/files/publicat/speeches/2016/2016-wilkerson-pension-trustee-09-29.pdf

September 29, 2016 - St. Louis Fed Financial Stress Index Dips Slightly - Financial market stress declined modestly in the latest reporting week after rising sharply over the previous week. For the week ending Sept. 23, the St. Louis Fed Financial Stress Index measured -1.045, down from the previous week’s revised value of -1.009 and the third decline in the past four weeks.  www.stlouisfed.org/news-releases/2016/09/29/st-louis-fed-financial-stress-index-dips-slightly

September 29, 2016 - Federal Reserve and CSBS Release Findings from 2016 National Survey of Community Banks - The Federal Reserve System and the Conference of State Bank Supervisors today released findings from a national survey of community bankers presented at the fourth annual Community Banking in the 21st Century Research and Policy Conference held at the Federal Reserve Bank of St. Louis from Sept. 28-29, 2016. www.stlouisfed.org/news-releases/2016/09/29/federal-reserve-and-csbs-release-findings-from-2016-national-survey-of-community-banks

September 29, 2016 - Press Release announces the availability of 2015 HMDA data. - Federal Financial Institutions Examination Council Announces Availability of 2015 Data on Mortgage Lending - The Federal Financial Institutions Examination Council today announced the availability of data on mortgage lending transactions at 6,913 U.S. financial institutions covered by the Home Mortgage Disclosure Act. Covered institutions include banks, savings associations, credit unions, and mortgage companies.
Press Release: www.ffiec.gov/press/pr092916.htm
Press Release: www.ncua.gov/newsroom/Pages/news-2016-sept-federal-financial-institutions-examination-council-availability-2015-data-mortgage-lending.aspx
 
September 29, 2016 - CA Letter 16-6 - Revised Interagency Military Lending Act Examination Procedures - The Task Force on Consumer Compliance of the Federal Financial Institutions Examination Council recently developed the attached interagency Military Lending Act examination procedures. www.federalreserve.gov/bankinforeg/caletters/caltr1606.htm

September 29, 2016 - Credit Availability and the Decline in Mortgage Lending to Minorities after the Housing Boom - Neil Bhutta and Daniel Ringo - Since 2006, the shares of home purchase loans originated to black and Hispanic borrowers have declined considerably.  www.federalreserve.gov/econresdata/notes/feds-notes/2016/credit-availability-and-the-decline-in-mortgage-lending-to-minorities-after-the-housing-boom-20160929.html

September 29, 2016 - Changing FHA Mortgage Insurance Premiums and the Effects on Lending - Neil Bhutta and Daniel Ringo - To what extent can the cost of credit affect home buying and mortgage borrowing activity? This note explores the effect of changes in Federal Housing Administration mortgage insurance premiums on mortgage borrowing activity.  www.federalreserve.gov/econresdata/notes/feds-notes/2016/changing-fha-mortgage-insurance-premiums-and-the-effects-on-lending-20160929.html

September 29, 2016 - Statistical Release - Minority Owned Depository Institutions - MINORITY OWNED DEPOSITORY INSTITUTIONS and THEIR BRANCHES as of June 30, 2016 SORTED by STATE.  www.federalreserve.gov/releases/mob/current/default.htm

September 29, 2016 - Statistical Release - Large Commerical Banks - INSURED U.S.-CHARTERED COMMERCIAL BANKS THAT HAVE CONSOLIDATED ASSETS of $300 MILLION or MORE, RANKED by CONSOLIDATED ASSETS As of June 30, 2016 www.federalreserve.gov/releases/lbr/current/default.htm

September 29, 2016 - Janet L. Yellen,  Chair - Brief Remarks - At the "Banking and the Economy: A Forum for Minority Bankers," sponsored by the Federal Reserve Bank of Kansas City, Kansas City, Missouri.  www.federalreserve.gov/newsevents/speech/yellen20160929a.pdf 

September 29, 2016 - Governor Jerome H. Powell - Trends in Community Bank Performance over the Past 20 Years - At the "Community Banking in the 21st Century" Fourth Annual Community Banking Research and Policy Conference, sponsored by the Federal Reserve System and the Conference of State Bank Supervisors, St. Louis, Missouri.    www.federalreserve.gov/newsevents/speech/powell20160929a.pdf

September 29, 2016 - Federal Reserve Board issues enforcement action with Agricultural Bank of China and Agricultural Bank of China New York Branch.   www.federalreserve.gov/newsevents/press/enforcement/enf20160929a1.pdf

September 28, 2016 - Evans Addresses Community Bankers - Chicago Fed President Charles Evans talked about monetary policy and the banking environment September 28 during a research and policy conference held at the Federal Reserve Bank of St. Louis. www.chicagofed.org/publications/speeches/2016/09-28-2016-lower-for-longer-in-todays-banking-environment-stlouis

September 28, 2016 - Comptroller Discusses How Best to Assess Foreign Correspondent Banking Risk - Comptroller of the Currency Thomas J. Curry today discussed re-evaluation of risks associated with foreign correspondent banking. His remarks came during an appearance at the 15th Annual Anti-Money Laundering and Financial Crime Conference. https://occ.gov/news-issuances/speeches/2016/pub-speech-2016-117.pdf

September 28, 2016 - St. Louis Fed Releases Burgundy Books - The Federal Reserve Bank of St. Louis has published its latest St. Louis Burgundy Book, a quarterly review of economic information for the St. Louis Zone of the Eighth District. www.stlouisfed.org/news-releases/2016/09/28/st-louis-fed-releases-burgundy-books

September 28, 2016 - St. Louis Fed Releases Little Rock Burgundy Book - The Federal Reserve Bank of St. Louis has published its latest Little Rock Burgundy Book, a quarterly review of economic information for the Little Rock Zone of the Eighth District. www.stlouisfed.org/news-releases/2016/09/28/st-louis-fed-releases-little-rock-burgundy-book

September 28, 2016 - St. Louis Fed Releases Louisville Burgundy Book - The Federal Reserve Bank of St. Louis has published its latest Louisville Burgundy Book, a quarterly review of economic information for the Louisville Zone of the Eighth District. www.stlouisfed.org/news-releases/2016/09/28/st-louis-fed-releases-louisville-burgundy-book

September 28, 2016 - St. Louis Fed Releases Memphis Burgundy Book - The Federal Reserve Bank of St. Louis has published its latest Memphis Burgundy Book, a quarterly review of economic information for the Memphis Zone of the Eighth District. www.stlouisfed.org/news-releases/2016/09/28/st-louis-fed-releases-memphis-burgundy-book

September 28, 2016 - The Effects of Demographic Change on GDP Growth in OECD Economies - There has been a downward trend in economic growth in a number of advanced economies over the past few decades, with the slowdown particularly evident in the case of Japan. (Figure 1 shows GDP growth by decade in the United States, Germany, and Japan.) www.federalreserve.gov/econresdata/notes/ifdp-notes/2016/effects-of-demographic-change-on-gdp-growth-in-oecd-economies-20160928.html

September 28, 2016 - 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/sullivan20160928a.htm

September 28, 2016 - Chair Janet L. Yellen - Supervision and Regulation - Before the Committee on Financial Services, U.S. House of Representatives, Washington, D.C. www.federalreserve.gov/newsevents/testimony/yellen20160928a.htm

September 27, 2016 - NCUA Hosts Financial Education Webinar - Learn How Education Programs Help Credit Union Members - Credit unions that want to help members understand and manage personal finances can benefit from an upcoming National Credit Union Administration webinar, “Financial Education: Alternative Delivery Channels,” scheduled for Wednesday, Oct. 12, 2016, beginning at 2 p.m. Eastern. www.ncua.gov/newsroom/Pages/news-2016-sept-ncua-hosts-financial-education-webinar.aspx 

September 27, 2016 - NCUA - Metsger Highlights Access in Proposing Rebrand for Consumer Protection Office - Consumer access to affordable financial services is essential to strong consumer financial protection, so National Credit Union Administration Board Chairman Rick Metsger is proposing rebranding the agency’s Office of Consumer Protection. www.ncua.gov/newsroom/Pages/news-2016-september-metsger-rebrand-consumer-protection-office.aspx

September 27, 2016 - 2016 Community Banking Research Conference To Be Webcast Live - Community bankers, academics, policymakers and bank supervisors from around the country will meet Sept. 28-29 at the Federal Reserve Bank of St. Louis for the fourth annual Community Banking in the 21st Century research and policy conference  hosted by the Federal Reserve System and the Conference of State Bank Supervisors.  www.stlouisfed.org/news-releases/2016/09/27/2016-community-banking-research-conference-will-be-webcast-live

September 27, 2016 - NCUA - Metsger Highlights Access in Proposing Rebrand for Consumer Protection Office - Consumer access to affordable financial services is essential to strong consumer financial protection, so National Credit Union Administration Board Chairman Rick Metsger is proposing rebranding the agency’s Office of Consumer Protection. www.ncua.gov/newsroom/Pages/news-2016-september-metsger-rebrand-consumer-protection-office.aspx

September 27, 2016 - U.S. and Oklahoma Economic Update - By Chad Wilkerson Vice President, Economist, and Oklahoma City Branch Executive Federal Reserve Bank of Kansas City.   www.kansascityfed.org/~/media/files/publicat/speeches/2016/2016-wilerson-sapulpa-09-27.pdf

September 27, 2016 - Legal Interpretations - Bank Holding Companies/Savings and Loan Holding Companies/Change in Control - October 22, 2015.   www.federalreserve.gov/bankinforeg/LegalInterpretations/bhc_changeincontrol20151022.pdf

September 27, 2016 - Legal Developments - Section 19 letters, May 10, May 12, June 9, June 10 (2 letters), June 17, June 28, 2016.   www.federalreserve.gov/bankinforeg/legaldevelopments/ordersother2016.htm

September 27, 2016 - Stanley Fischer,  Vice Chairman - Why Study Economics? - At the Convocation for the Department of Economics, Howard University, Washington, D.C. www.federalreserve.gov/newsevents/speech/fischer20160927a.htm

September 26, 2016 - U.S. and Oklahoma Economic Update - By Chad Wilkerson.  www.kansascityfed.org/~/media/files/publicat/speeches/2016/2016-wilkerson-payne-county-bankers-09-26.pdf

September 26, 2016 - Slow Credit Recovery and Excess Returns on Capital - Zheng Liu and Andrew Tai - During the recovery from the Great Recession, real interest rates on government securities have stayed low, but real returns on capital have rebounded.  www.frbsf.org/economic-research/publications/economic-letter/2016/september/slow-credit-recovery-and-excess-returns-on-capital/

September 26, 2016 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at 10:00 AM on September 26, 2016. Matter considered: Update on Consumer and Community Matters. www.federalreserve.gov/aboutthefed/boardmeetings/20160926exp.htm

September 26, 2016 - Statistical Release - Household Debt Service and Financial Obligations Ratios.  www.federalreserve.gov/releases/housedebt/default.htm

September 26, 2016 - Daniel K. Tarullo,  Governor - Next Steps in the Evolution of Stress Testing - At the Yale University School of Management Leaders Forum, New Haven, Connecticut.   www.federalreserve.gov/newsevents/speech/tarullo20160926a.htm

September 26, 2016 - Federal Reserve Board invites public comment on proposed rule to modify its capital plan and stress testing rules for 2017 cycle - The Federal Reserve Board on Monday invited public comment on a proposed rule to modify its capital plan and stress testing rules for the 2017 cycle.  www.federalreserve.gov/newsevents/press/bcreg/20160926a.htm

September 23, 2016 - OCC Hosts Minority Depository Institutions Advisory Committee Meeting - The Office of the Comptroller of the Currency today announced it will host a public meeting of the Minority Depository Institutions Advisory Committee on Tuesday, October 18, 2016, beginning at 8:30 a.m., Eastern Daylight Time. https://occ.gov/news-issuances/news-releases/2016/nr-occ-2016-116.html

September 23, 2016 - Carla Balch Joins St. Louis Fed’s Health Care Industry Council - Carla Balch, president of NantCare and NantCRO, has been named to the Health Care Industry Council of the Federal Reserve Bank of St. Louis. www.stlouisfed.org/news-releases/2016/09/23/carla-balch-joins-st-louis-fed-health-care-industry-council www.stlouisfed.org/news-releases/2016/09/23/carla-balch-joins-st-louis-fed-health-care-industry-council

September 23, 2016 - David Tatman Joins St. Louis Fed’s Transportation Industry Council - Dave Tatman, executive director of the Kentucky Automotive Industry Association, has been named to the Transportation Industry Council of the Federal Reserve Bank of St. Louis. www.stlouisfed.org/news-releases/2016/09/23/david-e-tatman-joins-st-louis-fed-transportation-industry-council

September 23, 2016 - Legal Developments - Regulation YY Foreign Banking Organization Requests, July 6, 2016 - The Board's Regulation YY implements enhanced prudential standards for certain companies supervised by the Board, including foreign banking organizations.   www.federalreserve.gov/bankinforeg/regulation-yy-foreign-banking-organization-requests.htm

September 23, 2016 - Federal Advisory Council - Record of Meeting, September 7, 2016.  www.federalreserve.gov/aboutthefed/fac-20160907.pdf

September 23, 2016 - International Banking and Cross-Border Effects of Regulation: Lessons from the United States - Jose Berrospide, Ricardo Correa, Linda Goldberg, and Friederike Niepmann - Domestic prudential regulation can have unintended effects across borders and may be less effective in an environment where banks operate globally.  www.federalreserve.gov/econresdata/ifdp/2016/files/ifdp1180.pdf

September 23, 2016 - Reserve Balances, the Federal Funds Market and Arbitrage in the New Regulatory Framework - Ayelen Banegas and Manjola Tase - We study developments in reserve balances and the federal funds market in the context of two banking regulatory changes: the widening of the Federal Deposit Insurance Corporation (FDIC) assessment base and the introduction of the Basel III leverage ratio. www.federalreserve.gov/econresdata/feds/2016/files/2016079pap.pdf

September 23, 2016 - Non-Linear Phillips Curves with Inflation Regime-Switching - Jeremy Nalewaik - Building on the results in Nalewaik, this work models wage growth and core PCE price inflation as regime-switching processes, whose characteristics in the 1970s, 1980s and early 1990s differ fundamentally from their characteristics in the 1960s and from the mid-1990s to present. www.federalreserve.gov/econresdata/feds/2016/files/2016078pap.pdf

September 23, 2016 - Near-Money Premiums, Monetary Policy, and the Integration of Money Markets: Lessons from Deregulation - Mark Carlson and David C. Wheelock - The 1960s and 1970s witnessed rapid growth in the markets for new money market instruments, such as negotiable certificates of deposit and Eurodollar deposits, as banks and investors sought ways around various regulations affecting funding markets. In this paper, we investigate the impacts of the deregulation and integration of the money markets.  www.federalreserve.gov/econresdata/feds/2016/files/2016077pap.pdf

September 23, 2016 - Measuring the Informativeness of Market Statistics - Kyungmin Kim - Market statistics can be viewed as noisy signals for true variables of interest. These signals are used by individual recipients of the statistics to imperfectly infer different variables of interest. www.federalreserve.gov/econresdata/feds/2016/files/2016076pap.pdf

September 23, 2016 - Search, Matching and Training - Christopher Flinn, Ahu Gemici and Steven Laufer - We estimate a partial and general equilibrium search model in which firms and workers choose how much time to invest in both general and match-specific human capital. www.federalreserve.gov/econresdata/feds/2016/files/2016075pap.pdf

September 23, 2016 - Endogenous Debt Maturity and Rollover Risk - Emanuele Brancati and Marco Macchiavelli - We challenge the common view that short-term debt, by having to be rolled over continuously, is a risk factor that exposes banks to higher default risk.  www.federalreserve.gov/econresdata/feds/2016/files/2016074pap.pdf 

September 23, 2016 - Federal Reserve Board invites public comment on proposed rule that would strengthen existing requirements and limitations on the physical commodity activities of financial holding companies.  www.federalreserve.gov/newsevents/press/bcreg/20160923a.htm

September 15, 2016 - Letter to Mr. Dennis E. Nixon granting a request by International Bancshares Corporation, Laredo, Texas, for an extension of time to hold its merchant banking investment in Spring Austin Partners, Ltd. www.federalreserve.gov/bankinforeg/LegalInterpretations/bhc_changeincontrol20160915.pdf
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September 22, 2016 - Economic Growth Slowed in August - The Chicago Fed National Activity Index was –0.55 in August, down from +0.24 in July. www.chicagofed.org/~/media/publications/cfnai/2016/cfnai-september2016-pdf.pdf?la=en

September 22, 2016 - St. Louis Fed Financial Stress Index Rises to Highest Level since July - Financial market stress rose in the latest reporting week, more than offsetting the declines over the previous two weeks. www.stlouisfed.org/news-releases/2016/09/22/st-louis-fed-financial-stress-index-rises-to-highest-level-since-july

September 22, 2016 - Advance 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 AM on September 26, 2016. www.federalreserve.gov/aboutthefed/boardmeetings/20160926advexp.htm

September 22, 2016 - Federal Reserve Bulletin - Legal Developments: Second Quarter, 2016 - Nine orders were issued this quarter, one for Republic Bancorp, Inc., BNC Bancorp, Ohio Valley Banc Corp., and Bank of the Ozarks, Inc. under section 3 of the Bank Holding Company Act; one for Sumitomo Mitsui Trust Holdings, Inc. and Sumitomo Mitsui Trust Bank, Limited under section 4 of the Bank Holding Company Act; one for Origin Bank and Compass Bank under the Federal Reserve Act; and one for Banque SYZ SA under the International Bank Act. www.federalreserve.gov/pubs/bulletin/2016/pdf/legalq216.pdf

September 21, 2016 - NCUA Reports Continued Improvement in Corporate Resolution Costs - Metsger: “Credit Unions Can Expect N?o F?urther Stabilization Fund Assessments” - Updated information on the costs of the Corporate Resolution Program and the performance of the NCUA Guaranteed Notes Program is now available online, the National Credit Union Administration announced today. www.ncua.gov/newsroom/Pages/news-2016-sept-corporate-resolution.aspx

September 21, 2016 - NCUA’s Feds Feed Families Contributions Will Provide 57,308 Meals - Donations from National Credit Union Administration staff to the annual Feds Feed Families food drive will provide 57,308 meals in the coming year. Agency employees donated a total of 68,770 pounds of food during the 2016 drive, which ran from June 1 through Aug. 31. www.ncua.gov/newsroom/Pages/news-2016-september-feds-feed-families-contributions.aspx

September 21, 2016 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at 1:00 PM on September 20, 2016, and continued on September 21, 2016, at 9:00 AM. Matter considered: Discussion of Monetary Policy Issues. www.federalreserve.gov/aboutthefed/boardmeetings/20160921exp.htm

September 21, 2016 - Federal Reserve Board and Federal Open Market Committee release economic projections from the September 20-21 FOMC meeting - The attached table and charts released on Wednesday summarize the economic projections and the target federal funds rate projections made by Federal Open Market Committee participants for the September 20-21 meeting. www.federalreserve.gov/newsevents/press/monetary/20160921b.htm

September 21, 2016 - Federal Reserve issues FOMC statement - Information received since the Federal Open Market Committee met in July indicates that the labor market has continued to strengthen and growth of economic activity has picked up from the modest pace seen in the first half of this year.  www.federalreserve.gov/newsevents/press/monetary/20160921a.htm

September 20, 2016 - Comptroller Discusses OCC Supervision of Wells Fargo - Comptroller of the Currency Thomas J. Curry today discussed supervision leading up to the recent enforcement actions against Wells Fargo Bank, N.A., for unsafe and unsound sales practices. www.occ.gov/news-issuances/speeches/2016/pub-speech-2016-115.pdf

September 19, 2016 - NCUA - Call Reporting Made Simpler - CUSO Registry Information No Longer Necessary on Call Reports - Beginning with the Sept. 30 reporting cycle, the National Credit Union Administration will require less information from credit unions about credit union service organizations on Call Reports. www.ncua.gov/newsroom/Pages/news-2016-call-reporting-made-simpler.aspx

September 19, 2016 - FFIEC Information Technology Examination Handbook – Information Security Booklet - The Federal Financial Institutions Examination Council has revised the July 2006 version of the "Information Security" booklet of the FFIEC Information Technology Examination Handbook. www.federalreserve.gov/bankinforeg/srletters/sr1614.htm

September 19, 2016 - 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 AM on September 19, 2016.  www.federalreserve.gov/aboutthefed/boardmeetings/20160919exp.htm

September 16, 2016 - OCC Enforcement Actions and Terminations for September 2016 - 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/2016/nr-occ-2016-114.html

September 16, 2016 - FDIC Unveils Resources to Help Community Bankers Learn More about Affordable Mortgage Programs - The Federal Deposit Insurance Corporation on Thursday published a guide and launched an online resource center to help community bankers learn more about single-family housing products offered by federal agencies and government-sponsored enterprises. www.fdic.gov/news/news/press/2016/pr16081.html

September 16, 2016 - Statistical Release - Mortgage Debt Outstanding.  www.federalreserve.gov/econresdata/releases/mortoutstand/current.htm

September 16, 2016 - Advance 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 1:00 PM on September 20, 2016. Matter to be considered: Discussion of Monetary Policy Issues. www.federalreserve.gov/aboutthefed/boardmeetings/20160920advexp.htm

September 16, 2016 - Statistical Release - Financial Accounts of the United States - Z.1 - The Financial Accounts of the United States includes data on the flow of funds and levels of financial assets and liabilities, by sector and financial instrument; full balance sheets, including net worth, for households and nonprofit organizations, nonfinancial corporate businesses, and nonfinancial noncorporate businesses; Integrated Macroeconomic Accounts; and additional supplemental detail. www.federalreserve.gov/releases/z1/current/default.htm

September 15, 2016 - Comptroller Discusses the Condition of the Federal Banking System - Comptroller of the Currency Thomas J. Curry today discussed how the financial system has progressed since the Great Recession, its present strengths, and the need to remain vigilant against risks.  www.occ.gov/news-issuances/speeches/2016/pub-speech-2016-113.pdf
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September 15, 2016 - Does Greater Inequality Lead to More Household Borrowing? New Evidence from Household Data - Olivier - Coibion, Yuriy Gorodnichenko, Marianna Kudlyak, and John Mondragon - Using household-level debt data over 2000-2012 and local variation in inequality, we show that low-income households in high-inequality regions (zip-codes, counties, states) accumulated less debt (relative to their income) than low-income households in lower-inequality regions, contrary to the prevailing view. www.frbsf.org/economic-research/files/wp2016-20.pdf

September 15, 2016 - St. Louis Fed Financial Stress Index Declines for a Second Week - Financial market stress fell slightly for the second consecutive week, and for the fourth week in the past five. For the week ending Sept. 9, the St. Louis Fed Financial Stress Index measured -1.134, down from the previous week’s revised value of -1.126. https://www.stlouisfed.org/news-releases/2016/09/15/st-louis-fed-financial-stress-index-declines-for-a-second-week 

September 15, 2016 - FDIC Announces a New Resource for Community Banks: Affordable Mortgage Lending Guide, Part I, and the Affordable Mortgage Lending Center The Affordable Mortgage Lending Guide, Part I, available today, organizes information about single-family mortgage products from federal agencies and government sponsored enterprises and provides technical assistance for community banks on affordable mortgage credit options.  www.fdic.gov/news/news/financial/2016/fil16060.pdf

September 15, 2016 - FDIC Unveils Resources to Help Community Bankers Learn More about Affordable Mortgage Programs - The Federal Deposit Insurance Corporation on Thursday published a guide and launched an online resource center to help community bankers learn more about single-family housing products offered by federal agencies and government-sponsored enterprises. www.fdic.gov/news/news/press/2016/pr16081.html

September 15, 2016 - Advance 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 12:00 PM on September 19, 2016. Matter to be 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/20160919advexp.htm

September 15, 2016 - NCUA - Credit Unions Must Prep for New Cyber Risks - Board Action Bulletin - Stabilization Fund's Net Income in Second Quarter Tops $425 Million - The National Credit Union Administration Board held its eighth open meeting of 2016 at the agency's headquarters here today and received a briefing from the Office of Examination and Insurance on the rapidly changing nature of cybersecurity. www.ncua.gov/newsroom/Pages/news-2016-credit-unions-must-prep-new-cyber-risks.aspx

September 14, 2016 - The Shifting Ground in Financial Markets and Technology - Chicago Fed Letter discusses the uncertainty surrounding financial markets and the industry impact of “fintech” innovations. www.chicagofed.org/~/media/publications/chicago-fed-letter/2016/cfl367-pdf.pdf

September 14, 2016 - NCUA - State Credit Union Data Show Growth in Lending, Assets, Shares and Deposits - Median Delinquency Rate Down Slightly; Return on Average Assets Up - Federally insured credit unions experienced continued improvement in nearly every category in the second quarter of 2016, according to state-level data compiled by the National Credit Union Administration and released today. www.ncua.gov/newsroom/Pages/news-2016-september-state-credit-union-data-growth-lending-assets-shares-deposits.aspx

September 14, 2016 - OCC Releases Bank Supervision Operating Plan for Fiscal Year 2017 - The Office of the Comptroller of the Currency today released its bank supervision operating plan for fiscal year 2017. www.occ.gov/news-issuances/news-releases/2016/nr-occ-2016-112.html

September 13, 2016 - New Incident Management System Will Improve NCUA’s Disaster Response - Read the Latest Issue of “The NCUA Report” Online - Disasters may be infrequent, but they are a fact of life. www.ncua.gov/newsroom/Pages/news-2016-september-new-incident-management-system-improve-disaster-response.aspx

September 13, 2016 - Comptroller Discusses Marketplace Lending - Comptroller of the Currency Thomas J. Curry today discussed marketplace lending’s risks and associated policy questions. He delivered his remarks at the inaugural Marketplace Lending Policy Summit. www.occ.gov/news-issuances/speeches/2016/pub-speech-2016-111.pdf

September 13, 2016 - OCC Proposes Framework for Receiverships for Uninsured Federally Chartered National Banks - The Office of the Comptroller of the Currency today released a proposed rule setting forth a framework for placing uninsured national banks into receivership. www.occ.gov/news-issuances/news-releases/2016/nr-occ-2016-110.html

September 13, 2016 - Kansas City Fed to Host Forum For Minority Bankers - Agenda includes sessions with Janet Yellen, Esther George and others - The Federal Reserve Bank of Kansas City is hosting a forum this month designed to provide minority bankers with industry knowledge and leadership development to enhance their careers and grow their professional networks.  www.kansascityfed.org/~/media/files/publicat/newsroom/2016pdf/pressrelease091316bnkforum.pdf

September 13, 2016 - Federal Reserve Board announces termination of enforcement actions with Anchor Commercial Bank, Bridgeview Bancorp, Inc., and Calvert Financial Corporation and Mainstreet Bank. www.federalreserve.gov/newsevents/press/enforcement/20160913a.htm

September 12, 2016 - Bubbles, Credit, and Their Consequences - Òscar Jordà, Moritz Schularick, and Alan M. Taylor - The collapse of an asset price bubble usually creates a great deal of economic disruption. But bubbles are hard to anticipate and costly to deflate. As a result, policymakers struggle to determine how they should respond, if at all. www.frbsf.org/economic-research/publications/economic-letter/2016/september/equity-and-housing-bubbles-and-consequences/ 

September 12, 2016 - Economic Outlook - Reuven Glick, group vice president at the Federal Reserve Bank of San Francisco, stated his views on the current economy and the outlook as of September 8, 2016. www.frbsf.org/economic-research/publications/fedviews/2016/september/september-08-2016/

September 12, 2016 - Learning in the Oil Futures Markets: Evidence and Macroeconomic Implications - Sylvain Leduc, Kevin Moran and Robert J. Vigfusson - We show that a model where investors learn about the persistence of oil-price movements accounts well for the fluctuations in oil-price futures since the late 1990s.  www.federalreserve.gov/econresdata/ifdp/2016/files/ifdp1179.pdf

September 12, 2016 - Lael Brainard, Governor - The "New Normal" and What It Means for Monetary Policy - At the Chicago Council on Global Affairs, Chicago, Illinois.   www.federalreserve.gov/newsevents/speech/brainard20160912a.htm

September 9, 2016 - Small Business Lending After the Financial Crisis: A New Competitive Landscape for Community Banks - Julapa A. Jagtiani , Cathy Lemieux - Community banks face growing competition, but also opportunities to partner with alternative lenders using technology to find borrowers and underwrite loans. www.chicagofed.org/~/media/publications/economic-perspectives/2016/ep2016-3-pdf.pdf

September 9, 2016 - NCUA Marks Fifteenth Anniversary of 9/11 Attacks - National Credit Union Administration leadership marked this weekend’s fifteenth anniversary of the Sept. 11, 2001, terrorist attacks in comments today. www.ncua.gov/newsroom/Pages/news-2016-september-fifteenth-anniversary-9-11-attacks.aspx

September 9, 2016 - OCC Newsletter Focuses on Housing Financing in Indian Country - The Office of the Comptroller of the Currency today published the latest edition of its Community Development Investments newsletter entitled “Housing Financing in Indian Country: Spotlight on HUD’s Title VI Program.” www.occ.gov/news-issuances/news-releases/2016/nr-occ-2016-109.html

September 9, 2016 - Fed and CSBS Announce Papers Selected for 2016 Community Banking Research Conference - Ten research papers have been selected for the 2016 Federal Reserve/Conference of State Bank Supervisors Community Banking in the 21st Century Research and Policy Conference that will be held Sept. 28-29 at the Federal Reserve Bank of St. Louis. www.stlouisfed.org/news-releases/2016/09/08/fed-and-csbs-announce-papers-selected-for-2016-conference

September 9, 2016 - The Federal Financial Institutions Examination Council published a press release announcing the issuing of a revised Information Security booklet, which is part of the FFIEC Information Technology Examination Handbook.
www.ffiec.gov/press/pr090916.htm
www.ncua.gov/newsroom/Pages/news-2016-september-financial-regulators-information-security-booklet.aspx

September 9, 2016 - FDIC Names Professor Manju Puri as Director for Center for Financial Research - The Federal Deposit Insurance Corporation today announced that Professor Manju Puri, Ph.D., will serve as the director of the FDIC's Center for Financial Research for two years starting October 1.  www.fdic.gov/news/news/press/2016/pr16080.html

September 9, 2016 - 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 9, 2016 - Current FAQs - Why do interest rates matter? www.federalreserve.gov/faqs/why-do-interest-rates-matter.htm

September 9, 2016 - Current FAQs - New FAQ video available - What is the difference between monetary policy and fiscal policy, and how are they related? www.federalreserve.gov/faqs/money_12855.htm

September 9, 2016 - Current FAQs - New FAQ video available - What is inflation and how does the Federal Reserve evaluate changes in the rate of inflation? www.federalreserve.gov/faqs/economy_14419.htm

September 9, 2016 - Federal Reserve Board announces retirement of Nellie Liang, director of the Division of Financial Stability - Nellie Liang, director of the Division of Financial Stability, will retire later this year after 30 years of service to the Federal Reserve Board, including six years as director.  www.federalreserve.gov/newsevents/press/other/20160909a.htm

September 8, 2016 - Oklahoma’s Manufacturing Industry Shows Signs of Stabilization - The Oklahoma City Branch of the Federal Reserve of Kansas City has released its latest issue of the quarterly publication the Oklahoma Economist. www.kansascityfed.org/~/media/files/publicat/newsroom/2016pdf/pressrelease090816oke.pdf
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September 8, 2016 - OCC Rule Would Prohibit Bank and Thrift Dealing and Investing in Industrial or Commercial Metals - The Office of the Comptroller of the Currency today proposed a rule to prohibit national banks and federal savings associations from dealing and investing in industrial or commercial metals. www.occ.gov/news-issuances/news-releases/2016/nr-occ-2016-108.html

September 8, 2016 - OCC Assesses Penalty Against Wells Fargo, Orders Restitution for Unsafe or Unsound Sales Practices - The Office of the Comptroller of the Currency today assessed a $35 million civil money penalty against Wells Fargo Bank, N.A., and ordered the bank to make restitution to customers who were harmed by the bank’s unsafe or unsound sales practices. www.occ.gov/news-issuances/news-releases/2016/nr-occ-2016-106.html

September 8, 2016 - St. Louis Fed Financial Stress Index Declines Slightly - Financial market stress fell slightly in the latest reporting week, according to the St. Louis Fed Financial Stress Index. For the week ending Sept. 2, the index measured -1.123, down slightly from the previous week’s revised value of -1.121.  www.stlouisfed.org/news-releases/2016/09/08/st-louis-fed-financial-stress-index-declines-slightly

September 8, 2016 - General Counsel opinion letter to Brian D. Christiansen, Esq., opining that no regulatory purpose would be served by requiring a filing under section 10(e) of the Home Owners’ Loan Act, as amended, for OceanFirst Financial Corp., Toms River, New Jersey, to acquire Ocean Shore Holding Company and thereby indirectly acquire Ocean City Home Bank, both of Ocean City, New Jersey. www.federalreserve.gov/bankinforeg/LegalInterpretations/bhc_changeincontrol20160907.pdf

September 8, 2016 - Statistical Release - Consumer Credit - G.19 - In July, consumer credit increased at a seasonally adjusted annual rate of 5-3/4 percent. Revolving credit increased at an annual rate of 3-1/2 percent, while nonrevolving credit increased at an annual rate of 6-3/4 percent. www.federalreserve.gov/releases/g19/current/default.htm

September 8, 2016 - Federal Reserve Board approves final policy statement detailing framework for setting Countercyclical Capital Buffer - The Federal Reserve Board on Thursday released a policy statement detailing the framework the Board will follow in setting the Countercyclical Capital Buffer (CCyB) for private-sector credit exposures located in the United States. www.federalreserve.gov/newsevents/press/bcreg/20160908b.htm

September 8, 2016 - Agencies Issue Study on Banking Activities and Investments - The Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency today released a report to the Congress and the Financial Stability Oversight Council on the activities and investments that banking entities may engage in under applicable law.
Press Release: www.federalreserve.gov/newsevents/press/bcreg/20160908a.htm 
Press Release: www.fdic.gov/news/news/press/2016/pr16079.html 
Press Release: www.occ.gov/news-issuances/news-releases/2016/nr-ia-2016-107.html

September 8, 2016 - NCUA’s New Online Training Outlines Fundamentals of Strategic Planning - Credit union board members can learn more about the fundamental concepts of strategic planning in a new online training series released today by the National Credit Union Administration. - The new four-part series, available here, provides an overview of the strategic planning process and best practices for developing a successful strategic plan. www.ncua.gov/newsroom/Pages/news-2016-september-online-training-fundamentals-strategic-planning.aspx

September 7, 2016 - Survey Shows Growth Remained Modest in July and Early August - The Chicago Fed Survey of Business Conditions Activity Index increased to -18 from -23, suggesting that growth in economic activity remained at a modest pace in July and early August. www.chicagofed.org/~/media/publications/cfsbc/2016/cfsbc-september2016-pdf.pdf?la=en

September 7, 2016 - NCUA Sets Budget Briefing for Oct. 27 - Draft Budget Available Week of Oct. 9; Deadline for Comments Nov. 4 - The National Credit Union Administration will hold a public briefing on its proposed 2017–2018 budget on Thursday, Oct. 27, from 2 p.m. to 4 p.m. Eastern in the agency’s boardroom in Alexandria, Virginia. www.ncua.gov/newsroom/Pages/budget-briefing-october-27.aspx

September 7, 2016 - Statement to the House Subcommittee on Monetary Policy and Trade By Esther George.  www.kansascityfed.org/~/media/files/publicat/speeches/2016/2016-george-dc-09-06.pdf

September 7, 2016 - Team Building to Be Featured at Next Delta Communities Meetings - The right relationships and the right team are key to making community development projects successful. That’s why team building is the subject of the next Delta Communities meetings focusing on life in the Arkansas and Mississippi Delta. www.stlouisfed.org/news-releases/2016/09/07/team-building-to-be-featured-at-next-delta-communities-meetings

September 7, 2016 - St. Louis Fed Updates Economic Conditions on Its Seven State District- The Federal Reserve Bank of St. Louis released today its portion of the Federal Reserve’s latest Beige Book, also published today. The local report summarizes economic conditions for the Eighth District, which is based in St. Louis and covers all of Arkansas and parts of Illinois, Indiana, Kentucky, Mississippi, Missouri and Tennessee. www.stlouisfed.org/news-releases/2016/09/07/st-louis-fed-updates-economic-conditions-on-its-seven-state-district

September 7, 2016 - Beige Book - Informal review by the Federal Reserve Banks of current economic conditions in their Districts.   www.federalreserve.gov/monetarypolicy/beigebook/default.htm

September 7, 2016 - Legal Interpretations - Bank Holding Companies/Savings and Loan Holding Companies/Change in Control - 2016 Letters.   www.federalreserve.gov/bankinforeg/LegalInterpretations/bhc_changeincontrol2016.htm 

September 7, 2016 - Bad Bad Contagion - Juan M. Londono - Bad contagion, the downside component of contagion in international stock markets, has negative implications for financial stability. I propose a measure for the occurrence and severity of global contagion that combines the factor-model approach in Bekaert et al. (2005) with the model-free or co-exceedance approach in Bae et al. (2003). www.federalreserve.gov/econresdata/ifdp/2016/files/ifdp1178.pdf

September 7, 2016 - Measuring the Natural Rate of Interest: International Trends and Determinants - Kathryn Holston, Thomas Laubach, and John C. Williams - U.S. estimates of the natural rate of interest – the real short-term interest rate that would prevail absent transitory disturbances – have declined dramatically since the start of the global financial crisis.  www.federalreserve.gov/econresdata/feds/2016/files/2016073pap.pdf

September 7, 2016 - Tempered Particle Filtering - Edward Herbst and Frank Schorfheide - The accuracy of particle filters for nonlinear state-space models crucially depends on the proposal distribution that mutates time t-1 particle values into time t values. In the widely-used bootstrap particle filter this distribution is generated by the state-transition equation. While straightforward to implement, the practical performance is often poor. www.federalreserve.gov/econresdata/feds/2016/files/2016072pap.pdf

September 6, 2016 - NCUA: Total Loans Outstanding at Credit Unions Top $800 Billion in Second Quarter - Total lending at federally insured credit unions increased to $823.4 billion in the second quarter of 2016, the National Credit Union Administration reported today. www.ncua.gov/newsroom/Pages/news-2016-sept-quarterly-data.aspx

September 6, 2016 - Patricia Pointer Named Deputy Comptroller for Leadership, Executive and Organizational Development - The Office of the Comptroller of the Currency (OCC) today announced the selection of Patricia Pointer to be the agency’s Deputy Comptroller for Leadership, Executive and Organizational Development. www.occ.gov/news-issuances/news-releases/2016/nr-occ-2016-105.html

September 6, 2016 - Fed Communication: Words and Numbers - In response to the global financial crisis, the Federal Reserve relied more heavily on communication to shape expectations. Since 2012 the Fed has released the Summary of Economic Projections reflecting the range of expectations from FOMC meeting participants.  www.frbsf.org/economic-research/publications/economic-letter/2016/september/fed-communication-words-and-numbers-prattle/

September 6, 2016 - FDIC to Hold 16th Annual Bank Research Conference in Arlington, Virginia -Chairman Gruenberg to Speak on First Day of the Two-Day Event - The Federal Deposit Insurance Corporation (FDIC) and the Journal for Financial Services Research will sponsor the 16th Annual Bank Research Conference September 8-9, 2016.  www.fdic.gov/news/news/press/2016/pr16078.html

September 6, 2016 - Federal Reserve Board announces termination of enforcement action with FirstFed Bancorp, Inc. Employee Stock Ownership Plan and FirstFed Bancorp, Inc. www.federalreserve.gov/newsevents/press/enforcement/20160906a.htm

September 2, 2016 - 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 (CRA) performance evaluations that became public during the period of August 1, 2016 through August 31, 2016. www.occ.gov/news-issuances/news-releases/2016/nr-occ-2016-104.html

September 2, 2016 - Regulatory Relief - Meeting the Financial Needs of Customers Affected by Storms and Flooding in Louisiana - The Federal Deposit Insurance Corporation encourages depository institutions to consider all reasonable and prudent steps to assist customers in communities affected by recent storms and flooding in Louisiana.  www.fdic.gov/news/news/financial/2016/fil16059.html

September 2, 2016 - FDIC Announces New Members for the Advisory Committee on Community Banking - The Federal Deposit Insurance Corporation has announced the selection of eight new members for its Advisory Committee on Community Banking, which has been providing advice and recommendations to the FDIC on a broad range of community bank policy and regulatory matters since it was established in 2009. www.fdic.gov/news/news/press/2016/pr16077.html

September 2, 2016 - FDIC Issues List of Banks Examined for CRA Compliance - The Federal Deposit Insurance Corporation today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act. The list covers evaluation ratings that the FDIC assigned to institutions in June 2016.  www.fdic.gov/news/news/press/2016/pr16076.html

September 2, 2016 - Mutual Fund Flows, Monetary Policy and Financial Stability - Ayelen Banegas, Gabriel Montes-Rojas, and Lucas Siga - We study the links between monetary policy and mutual fund flows, and the potential risks to financial stability that might arise from such flows, using data over the 2000-14 period.  www.federalreserve.gov/econresdata/feds/2016/files/2016071pap.pdf

September 2, 2016 - 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 2, 2016 - FOIA - Chair Yellen's calendar, July 2016.  www.federalreserve.gov/foia/files/chair-yellen-calendar-072016.pdf

September 1, 2016 - OCC Allows National Banks and Federal Savings Associations Affected by Hurricane Hermine to Close - The Office of the Comptroller of the Currency today issued a proclamation allowing national banks and federal savings associations at their discretion to close offices affected by Hurricane Hermine. www.occ.gov/news-issuances/news-releases/2016/nr-occ-2016-103.html

September 1, 2016 - OCC Issues Fourth Quarter 2016 CRA Evaluation Schedule - The Office of the Comptroller of the Currency today released its schedule of Community Reinvestment Act evaluations to be conducted in the fourth quarter of 2016. www.occ.gov/news-issuances/news-releases/2016/nr-occ-2016-102.html
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September 1, 2016 - Detroit, Chicago: Real Property Value Comparisons - In a recent blog posting, Federal Reserve Bank of Chicago’s Bill Testa and Thomas Haasl look at the value of real property and how the cities compare in terms of their outlooks and situation. http://midwest.chicagofedblogs.org/?p=2654

September 1, 2016 - NCUA - Cory Methodist Church Credit Union Merges into Eaton Family Credit Union - ?Member Deposits Protected up to $250,000; Member Services Uninterrupted - Cory Methodist Church Credit Union of Cleveland, Ohio, has merged into Eaton Family Credit Union of Euclid, Ohio, effective today, the National Credit Union Administration announced. www.ncua.gov/newsroom/Pages/cory-methodist-church-merges-eaton-family.aspx

September 1, 2016 - NCUA - Credit Unions in Florida, Southeast Should Prepare for Tropical Storm Hermine - ?NCUA Closely Monitoring Storm’s Progress; Landfall Expected Early Friday - Credit unions in Florida and parts of the Eastern Seaboard should take steps to prepare for the arrival of Tropical Storm Hermine early Friday morning, the National Credit Union Administration said today. www.ncua.gov/newsroom/Pages/news-2016-september-florida-southeast-prepare-tropical-storm-hermine.aspx

September 1, 2016 - NCUA - AMAC President Barton Retiring - Mike Barton, who has served as President of the National Credit Union Administration’s Asset Management and Assistance Center for 17 years, has announced he will retire Sept. 30. www.ncua.gov/newsroom/Pages/news-2016-september-amac-president-barton-retiring.aspx

September 1, 2016 - St. Louis Fed Financial Stress Index Rises Slightly - Financial market stress rose slightly in the latest reporting week, according to the St. Louis Fed Financial Stress Index. For the week ending Aug. 26, the index measured -1.118, up slightly from the previous week’s revised value of -1.148. Zero represents normal financial stress. www.stlouisfed.org/news-releases/2016/09/01/st-louis-fed-financial-stress-index-rises-slightly

September 1, 2016 - Brett Norman Joins St. Louis Fed’s Agribusiness Industry Council - Brett Norman, CEO and co-founder of AgSmarts, has been named to the Agribusiness Industry Council of the Federal Reserve Bank of St. Louis. www.stlouisfed.org/news-releases/2016/09/01/brett-norman-joins-st-louis-fed-agribusiness-industry-council

September 1, 2016 - Stephanie Ivey Joins St. Louis Fed’s Transportation Industry Council - Dr. Stephanie Ivey, associate professor with the department of civil engineering and director of the Intermodal Freight Transportation Institute and the Southeast Transportation Workforce Center at the University of Memphis, has been named to the Transportation Industry Council of the Federal Reserve Bank of St. Louis. www.stlouisfed.org/news-releases/2016/09/stephanie-ivey-joins-st-louis-fed-transportation-industry-council

September 1, 2016 - Statistical Release - Foreign Exchange Rates - G.5 - The table below shows the average rates of exchange in AUGUST 2016 together with comparable figures for other months. Averages are based on daily noon buying rates for cable transfers in New York City certified for customs purposes by the Federal Reserve Bank of New York. www.federalreserve.gov/releases/g5/current/default.htm