August 29, 2014 - Midwest Economic Growth Increased in July - The Midwest Economy Index was +0.62 in July, up from +0.56 in June. http://chicagofed.org/webpages/publications/mei/index.cfm

August 29, 2014 - NCUA Issues Prohibition Orders - The National Credit Union Administration has issued three orders in August prohibiting the following individuals from participating in the affairs of any federally insured financial institution: www.ncua.gov/News/Pages/NW20140829Orders.aspx

August 29, 2014 - OCC Issues Fourth Quarter CRA Evaluation Schedule - The Office of the Comptroller of the Currency today released its schedule of Community Reinvestment Act (CRA) evaluations to be conducted in the fourth quarter of 2014. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-116.html

August 29, 2014 - FDIC Issues Fourth Quarter 2014 CRA Examination Schedule -The Federal Deposit Insurance Corporation has issued the public list of institutions that it has scheduled for a Community Reinvestment Act examination during the fourth quarter of 2014.  www.fdic.gov/news/news/press/2014/pr14073.html

August 29, 2014 - FDIC Makes Public July Enforcement Actions - The Federal Deposit Insurance Corporation today released a list of orders of administrative enforcement actions taken against banks and individuals in July. No administrative hearings are scheduled for September 2014. www.fdic.gov/news/news/press/2014/pr14072.html

August 29, 2014 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

August 29, 2014 - Financial Business Cycles - Matteo Iacoviello - Using Bayesian methods, I estimate a DSGE model where a recession is initiated by losses suffered by banks and exacerbated by their inability to extend credit to the real sector. The event triggering the recession has the workings of a redistribution shock: a small sector of the economy -- borrowers who use their home as collateral -- defaults on their loans. www.federalreserve.gov/pubs/ifdp/2014/1116/ifdp1116.pdf

August 29, 2014 - Employment and Firm Heterogeneity, Capital Allocation, and Countercyclical Labor Market Policies - Brendan Epstein and Alan Finkelstein Shapiro - Many countries have large employment shares in micro and small firms that have limited access to formal financing and therefore rely on input credit.  www.federalreserve.gov/pubs/ifdp/2014/1115/ifdp1115.pdf

August 29, 2014 - Report to the Congress - Reports Pursuant to Section 129 of the Emergency Economic Stabilization Act of 2008 www.federalreserve.gov/monetarypolicy/files/129periodicupdate20140829.pdf
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August 28, 2014 - Office of the Comptroller of the Currency Hosts Workshop in Orlando - The Office of the Comptroller of the Currency will host a workshop in Orlando, Fla., at the Rosen Plaza Hotel, Oct. 6-8, for directors of national community banks and federal savings associations. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-115.html

August 28, 2014 - Financial Market Stress Falls for Second Consecutive Week - The St. Louis Fed Financial Stress Index fell modestly for the second consecutive week. For the week ending Aug. 22, 2014, the STLFSI measured -1.291, down slightly from the previous week’s revised value of -1.273.   www.stlouisfed.org/newsroom/displayNews.cfm?article=2287

August 28, 2014 - FDIC-Insured Institutions Earned $40.2 Billion in the Second Quarter of 2014 - FDIC-Insured Institutions Earned $40.2 Billion in the Second Quarter of 2014 - Quarterly Loan Growth is Largest Since 2007.  www.fdic.gov/news/news/press/2014/pr14071.html

August 28, 2014 - Statistical Release - Finance Companies - G.20 - Owned and Managed Receivables Outstanding 2 - Seasonally adjusted. Billions of dollars except as noted. www.federalreserve.gov/releases/g20/current/g20.htm

August 28, 2014 - Federal Reserve Board announces termination of enforcement action with Delmar Bancorp.   www.federalreserve.gov/newsevents/press/enforcement/20140828a.htm

August 27, 2014 - NCUA - McWatters Outlines NCUA Vision, Priorities - Regulatory relief, transparency, accountability, supporting low-income credit union members and promoting greater industry diversity are among the priorities National Credit Union Administration Board Member J. Mark McWatters described today in a statement outlining his vision for the agency: www.ncua.gov/News/Pages/NW20140827McWatters.aspx

August 27, 2014 - FDIC Consumer Newsletter Features Tips on Preparing Financially for a Stressful Life Event - Other topics include deposit insurance, rebuilding credit, and a new security feature for cards - No one wants to think about it, but everyone needs to plan for stressful life events that include disability or death.  www.fdic.gov/news/news/press/2014/pr14070.html

August 27, 2014 - Notice of Open Board Meeting - An open meeting of the Board of Governors of the Federal Reserve System will be held at 10:30 AM on Wednesday, September 3, 2014. Matter(s) considered: 1. Final Rulemaking: U.S. Liquidity Coverage Ratio, 2. Proposed Rulemaking: Margin Requirements on Non-Cleared Swaps. www.federalreserve.gov/aboutthefed/boardmeetings/20140903open.htm

August 27, 2014 - Notice of a Meeting under Expedited Procedures - Held on August 27, 2014. Matters considered: Periodic Supervisory Update. www.federalreserve.gov/aboutthefed/boardmeetings/20140827exp.htm

August 27, 2014 - Do Creditor Rights Increase Employment Risk? Evidence from Loan Covenants - Nellie Liang and Antonio Falato - Using a regression discontinuity design, we provide evidence that incentive conflicts between firms and their creditors have a large impact on employees.  www.federalreserve.gov/pubs/feds/2014/201461/201461pap.pdf

August 27, 2014 - The scarcity value of Treasury collateral: Repo market effects of security-specific supply and demand factors - Stefania D'Amico, Roger Fan, and Yuriy Kitsul - In the special collateral repo market, forward agreements are security-specific, which may magnify demand and supply effects.  www.federalreserve.gov/pubs/feds/2014/201460/201460pap.pdf

August 27, 2014 - Precautionary Volatility and Asset Prices - Andrew Y. Chen - Many theories of asset prices assume time-varying uncertainty in order to generate time-varying risk premia. This paper generates time-varying uncertainty endogenously, through precautionary saving dynamics. Precautionary motives prescribe that, in bad times, next period's consumption should be very sensitive to news. www.federalreserve.gov/pubs/feds/2014/201459/201459pap.pdf

August 26, 2014 - NCUA - McWatters Takes Oath, Joins NCUA Board - The Honorable J. Mark McWatters took the oath of office and joined the National Credit Union Administration as its 21st Board member today. www.ncua.gov/News/Pages/NW20140825McWattersOath.aspx

August 26, 2014 - OCC Hosts Risk Assessment and Credit Risk Workshops in Dallas - The Office of the Comptroller of the Currency will host two workshops in Dallas at the Embassy Suites Dallas-Park Central, Sept. 30-Oct. 1, for directors of national community banks and federal savings associations. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-114.html

August 26, 2014 - Payment Systems - Quarterly Data Updates: Fedwire Funds Services, Fedwire Securities Services, and National Settlement Service.   www.federalreserve.gov/paymentsystems/default.htm

August 26, 2014 - Federal Reserve Board announces termination of enforcement actions with Riverview Bancorp and Trans Pacific Bancorp.   www.federalreserve.gov/newsevents/press/enforcement/20140826a.htm

August 26, 2014 - Minutes of the Board's discount rates meetings from July 14 and July 28, 2014.   www.federalreserve.gov/newsevents/press/monetary/monetary20140826a1.pdf

August 25, 2014 - Are Seventh District Labor Markets Still Slack? - By Bill Testa and Jacob Berman - There is no question that the U.S. labor market has been gradually but steadily healing after the Great Recession. The national unemployment rate peaked at 10% in October 2009, but it has since fallen to 6.2% (as of July 2014). http://midwest.chicagofedblogs.org/archives/2014/08/labor_market_ca.html

August 25, 2014 - NCUA - 75 Late Filers in Second Quarter - Seventy-five federally insured credit unions were late filing Call Reports for the second quarter and now face potential civil money penalties, the National Credit Union Administration said today. www.ncua.gov/News/Pages/NW20140825LateFilers.aspx

August 25, 2014 - Advance Notice of a Meeting Under Expedited Procedures - Will be held on August 27, 2014. Periodic supervisory update. www.federalreserve.gov/aboutthefed/boardmeetings/20140827advexp.htm

August 25, 2014 - Notice of a Meeting under Expedited Procedures - Meeting held on August 25, 2014. Review and determination by the Board of Governors of the advance and discount rates to be charged by the Federal Reserve Banks. www.federalreserve.gov/aboutthefed/boardmeetings/20140825exp.htm

August 22, 2014 - Interagency Guidance Regarding Unfair or Deceptive Credit Practices - The FDIC, the Board of Governors of the Federal Reserve System, the Consumer Financial Protection Bureau, the National Credit Union Administration, and the Office of the Comptroller of the Currency are issuing guidance regarding certain consumer credit practices. www.fdic.gov/news/news/financial/2014/fil14044.html

August 22, 2014 - NCUA Issues Chttp://www.ncua.gov/News/Pages/NW20140822CeaseDesistOrder.aspxease and Desist Order - The National Credit Union Administration has issued a cease and desist order to David Addison, a former institution-affiliated party of Texans Credit Union of Richardson, Texas. www.ncua.gov/News/Pages/NW20140822CeaseDesistOrder.aspx

August 22, 2014 - Credit and Liquidity Programs and the Balance Sheet - Federal Reserve Banks Combined Quarterly Financial Reports. www.federalreserve.gov/monetarypolicy/bst_fedfinancials.htm

August 22, 2014 - Credit and Liquidity Programs and the Balance Sheet - Federal Reserve Banks Combined Quarterly Financial Reports.   www.federalreserve.gov/monetarypolicy/quarterly-balance-sheet-developments-report.htm

August 22, 2014 - Chair Janet L. Yellen - Labor Market Dynamics and Monetary Policy - At the Federal Reserve Bank of Kansas City Economic Symposium, Jackson Hole, Wyoming.  www.federalreserve.gov/newsevents/speech/yellen20140822a.htm

August 22, 2014 - Federal Reserve Board requests comment on proposal to repeal Regulation AA (Unfair or Deceptive Acts or Practices) www.federalreserve.gov/newsevents/press/bcreg/bcreg20140822a.htm
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August 21, 2014 - Financial Market Stress Falls for First Time in Three Weeks - The St. Louis Fed Financial Stress Index fell modestly in the latest reporting week. For the week ending Aug. 15, 2014, the STLFSI measured -1.266, down slightly from the previous week’s revised value of -1.208. Last week’s decline was the first in the past three weeks. www.stlouisfed.org/newsroom/displayNews.cfm?article=2283

August 21, 2014 - FDIC Announces Settlement With Bank of America - Settlement of Claims Totals $1.03 Billion - The Federal Deposit Insurance Corporation as Receiver for 26 failed banks has announced a $1,031,000,000 settlement with Bank of America Corporation, et al. www.fdic.gov/news/news/press/2014/pr14069.html

August 21, 2014 - Advance Notice of a Meeting Under Expedited Procedures - Will be held on August 25, 2014. Review and determination by the Board of Governors of the advance and discount rates to be charged by the Federal Reserve Banks. www.federalreserve.gov/aboutthefed/boardmeetings/20140825advexp.htm

August 20, 2014 - NCUA - July NCUA Board Meeting Video Now Available Online - The video recording of the July open meeting of the National Credit Union Administration Board is now available on the agency’s website. Archived videos of past Board meetings may be viewed here, and each video remains on the site for one year. www.ncua.gov/News/Pages/NW20140820JulyBoardMtgVid.aspx

August 20, 2014 - The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on July 29-30, 2014. www.federalreserve.gov/newsevents/press/monetary/20140820a.htm

August 19, 2014 - August NCUA Report Now Available Online - The National Credit Union Administration announced today the August 2014 issue of The NCUA Report is now available online here. www.ncua.gov/News/Pages/NW20140819AugustNewsletter.aspx

August 19, 2014 - Federal Financial Institutions Regulatory Agencies Announce Availability of 2013 Small Business, Small Farm, and Community Development Lending Data - The three federal banking agency members of the Federal Financial Institutions Examination Council with Community Reinvestment Act responsibilities – the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency – announced today the availability of data on small business, small farm, and community development lending reported by certain commercial banks and savings associations, pursuant to the CRA. www.occ.gov/news-issuances/news-releases/2014/nr-ia-2014-113.html

August 19, 2014 - Statistical Release - Charge-Off and Delinquency Rates on Loans and Leases at Commercial Banks.   www.federalreserve.gov/releases/chargeoff/

August 19, 2014 - The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency – published a press release today announcing the availability of data on small business, small farm, and community development lending reported by certain commercial banks and savings associations, pursuant to the CRA." www.ffiec.gov/press/pr081914.htm

August 18, 2014 - 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/webpages/publications/risk_perspectives/2011_2014/2014-quarter-two.cfm

August 18, 2014 - Industrial Clusters and Economic Development in Chicago - In a recent blog posting, Federal Reserve Bank of Chicago's Rick Mattoon summarizes major trends in selected Midwest metropolitan economies. http://midwest.chicagofedblogs.org/archives/2014/08/economic_develo_1.html

August 18, 2014 - 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 October 7, 2014 in Washington, D.C. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-112.html

August 18, 2014 - Deputy Comptroller Discusses Compliance with America's Military Bankers - During remarks before the Association of Military Banks of America Workshop, Deputy Comptroller for Compliance Policy Grovetta Gardineer discussed compliance and innovation that can help serve members of the armed forces and their families. www.occ.gov/news-issuances/speeches/2014/pub-speech-2014-111.pdf

August 18, 2014 - The Role of Oil Price Shocks in Causing U.S. Recessions - Lutz Kilian and Robert J. Vigfusson - Although oil price shocks have long been viewed as one of the leading candidates for explaining U.S. recessions, surprisingly little is known about the extent to which oil price shocks explain recessions. We provide a formal analysis of this question with special attention to the possible role of net oil price increases in amplifying the transmission of oil price shocks.  www.federalreserve.gov/pubs/ifdp/2014/1114/ifdp1114.pdf

August 18, 2014 - Estimating U.S. Cross-Border Securities Positions: New Data and New Methods - Carol Bertaut and Ruth Judson - The role of capital flows in the buildup to the global financial crisis and the potential vulnerabilities posed by capital flows to emerging market economies highlight the importance of reliable and timely measures of cross-border investment activity to better monitor developments as they unfold. www.federalreserve.gov/pubs/ifdp/2014/1113/ifdp1113.pdf 

August 18, 2014 - Returns to Active Management: The Case of Hedge Funds - Maziar Kazemi and Ergys Islamaj - Do more active hedge fund managers generate higher returns than their less active peers? We attempt to answer this question. Using Kalman Filter techniques, we estimate the risk exposure dynamics of a large sample of live and dead equity long-short hedge funds. www.federalreserve.gov/pubs/ifdp/2014/1112/ifdp1112.pdf

August 15, 2014 - Joint Release/Agencies Provide Additional Guidance for Certain Resolution Plans - The Federal Reserve Board and the Federal Deposit Insurance Corporation on Friday provided additional guidance to firms that in December will be filing resolution plans for the second time. Each plan must describe the company's strategy for rapid and orderly resolution under the U.S. Bankruptcy Code in the event of material financial distress or failure of the company. www.fdic.gov/news/news/press/2014/pr14068.html

August 15, 2014 - Supervision Manuals - Bank Holding Company Supervision Manual - These manuals are intended to provide guidance to supervisory personnel in planning and conducting inspections and are to be used in conjunction with other supervisory guidance and manuals. They should not be considered a legal reference to the regulations of the Federal Reserve Board and federal banking laws. www.federalreserve.gov/boarddocs/supmanual/

August 15, 2014 - Industrial Production and Capacity Utilization - G.17 - Industrial production increased 0.4 percent in July for its sixth consecutive monthly gain. Manufacturing output advanced 1.0 percent in July, its largest increase since February. The production of motor vehicles and parts jumped 10.1 percent, while output in the rest of the manufacturing sector rose 0.4 percent. www.federalreserve.gov/releases/g17/Current/default.htm

August 15, 2014 - Agencies provide additional guidance for certain resolution plans - The Federal Reserve Board and the Federal Deposit Insurance Corporation on Friday provided additional guidance to firms that in December will be filing resolution plans for the second time.   www.federalreserve.gov/newsevents/press/bcreg/20140815a.htm

August 15, 2014 - OCC Enforcement Actions - The Office of the Comptroller of the Currency today released new enforcement actions taken against national banks, federal savings associations, and individuals currently and formerly affiliated with national banks and federal savings associations. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-110.html

August 14, 2014 - Midwest Farmland Values Up Slightly in Second Quarter - According to the most recent AgLetter, Seventh District farmland values in the second quarter of 2014 were 3 percent higher than a year ago. Values for “good” agricultural land in the second quarter of 2014 were 2 percent higher than in the first quarter. www.chicagofed.org/digital_assets/publications/agletter/2010_2014/august_2014.pdf

August 14, 2014 - Understanding the Relationship Between Real Wage Growth and Labor Market Conditions - Daniel Aaronson, Andrew Jordan - The authors find that the share of the labor force that is medium-term unemployed (five to 26 weeks unemployed) and the share working part time (less than 35 hours per week) involuntarily are strongly correlated with real wage growth.  http://chicagofed.org/digital_assets/publications/chicago_fed_letter/2014/cfloctober2014_327.pdf

August 14, 2014 - NCUA - C-Plant Federal Credit Union Assumes IBEW Local 816 Shares, Purchases Loans - Member Deposits Protected up to $250,000 by Share Insurance Fund - C-Plant Federal Credit Union, of Paducah, Kentucky, has completed the purchase and assumption of IBEW Local 816 Federal Credit Union, also of Paducah, the National Credit Union Administration announced today. www.ncua.gov/News/Pages/NW20140814IBEWAssumption.aspx

August 14, 2014 - NCUA Receives Nearly $5.4 Million Recovery from BCT Fraud - The National Credit Union Administration has received a restitution of almost $5.4 million resulting from a fraud prosecution by the U.S. Attorney’s office of the Northern District of New York. www.ncua.gov/News/Pages/NW20140814BCTFraud.aspx 

August 14, 2014 - Financial Market Stress Rises for Fifth Time in Six Weeks - The St. Louis Fed Financial Stress Index rose appreciably in the latest reporting week, reaching its highest level since the week ending April 4, 2014. For the week ending Aug. 8, 2014, the STLFSI measured -1.202, an increase from the previous week’s revised value of -1.288. www.stlouisfed.org/newsroom/displayNews.cfm?article=2277

August 14, 2014 - St. Louis Fed Quarterly Ag Survey Shows Continued Decline in Midwest, Midsouth Farmland Prices - Amid excellent crop growing conditions and lower grain prices, farmland values in the Midwest and Midsouth continued to decline during the second quarter of 2014, according to latest Agricultural Finance Monitor published by the Federal Reserve Bank of St. Louis. www.stlouisfed.org/newsroom/displayNews.cfm?article=2278

August 14, 2014 - Presidential $1 Coin Program - Reports on the Federal Reserve and the United States Mint's collaborative efforts to develop.   www.federalreserve.gov/publications/other-reports/default.htm

August 14, 2014 - Federal Reserve Board issues enforcement action with Bank of Gueydan.   www.federalreserve.gov/newsevents/press/enforcement/enf20140814a1.pdf ____________________________

August 13, 2014 - Office of the Comptroller of the Currency Hosts Workshop in Pittsburgh - The Office of the Comptroller of the Currency will host a workshop in Pittsburgh at the Wyndham Grand Pittsburgh Downtown, Sept. 15-17, for directors of national community banks and federal savings associations. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-109.html

August 12, 2014 - Legal Interpretations - Bank Holding Companies/Savings and Loan Holding Companies/Change in Control - Letter to Mr. Seymour M. Jacobs granting the request by Jacobs Asset Management, LLC, New York, New York, for relief from commitments it made to the Board in connection with its acquisition of securities that were issued by Community West Bancshares, Goleta, California, to the Department of the Treasury as part of the Troubled Asset Relief Program’s Capital Purchase Program. www.federalreserve.gov/bankinforeg/LegalInterpretations/bhc_changeincontrol20140811a1.pdf

August 11, 2014 - NCUA Consulting Services Helping Credit Unions Plan and Prosper - The National Credit Union Administration is providing 179 federally insured credit unions with free consulting services in the second half of 2014 though the agency’s Office of Small Credit Union Initiatives. www.ncua.gov/News/Pages/NW20140811NCUAConsulting.aspx

August 11, 2014 - Industrial Clusters and Economic Development in Detroit, Mich. - In a recent blog posting, Federal Reserve Bank of Chicago's Rick Mattoon summarizes major trends in selected Midwest metropolitan economies. http://midwest.chicagofedblogs.org/archives/2014/08/economic_develo.html

August 11, 2014 - OCC Releases CRA Evaluations for 44 National Banks and Federal Savings Associations - The Office of the Comptroller of the Currency today released a list of Community Reinvestment Act performance evaluations that became public during the period of July 1, 2014 through July 31, 2014. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-108.html

August 11, 2014 - OCC's Minority Depository Institutions Advisory Committee Charter Renewed - The Office of the Comptroller of the Currency has renewed the charter of its Minority Depository Institutions Advisory Committee, which advises the agency on issues and opportunities facing minority depository institutions. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-107.html

August 11, 2014 - Vice Chairman Stanley Fischer - The Great Recession: Moving Ahead - At the "The Great Recession--Moving Ahead," a Conference Sponsored by the Swedish Ministry of Finance, Stockholm, Sweden.  www.federalreserve.gov/newsevents/speech/fischer20140811a.htm

August 8, 2014 - Unspanned macroeconomic factors in the yield curve - Laura Coroneo, Domenico Giannone, and Michele Modugno - In this paper, we extract common factors from a cross-section of U.S. macro-variables and Treasury zero-coupon yields. We find that two macroeconomic factors have an important predictive content for government bond yields and excess returns. www.federalreserve.gov/pubs/feds/2014/201457/201457pap.pdf

August 8, 2014 - Firm Entry and Employment Dynamics in the Great Recession - Michael Siemer - The 2007-2009 recession is characterized by: a large drop in employment, an unprecedented decline in firm entry, and a slow recovery. Using confidential firm-level data, I show that financial constraints reduced employment growth in small relative to large firms by 4.8 to 10.5 percentage points. www.federalreserve.gov/pubs/feds/2014/201456/201456pap.pdf

August 8, 2014 - The Domestic and International Effects of Interstate U.S. Banking - Matteo Cacciatore, Fabio Ghironi, and Viktors Stebunovs - This paper studies the domestic and international effects of national bank market integration in a two-country, dynamic, stochastic, general equilibrium model with endogenous producer entry. Integration of banking across localities reduces the degree of local monopoly power of financial intermediaries. www.federalreserve.gov/pubs/ifdp/2014/1111/ifdp1111.pdf

August 8, 2014 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

August 8, 2014 - NCUA -Number of Low-Income Credit Unions Passes 2,100 Mark - Two years after the National Credit Union Administration announced its low-income credit union initiative, 2,107 federally insured credit unions now have the low-income designation, the agency said today. www.ncua.gov/News/Pages/NW20140808lCreditUnions.aspx
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August 7, 2014 - Financial Market Stress Rises Modestly Over Previous Week - The St. Louis Fed Financial Stress Index rose modestly in the latest reporting week. For the week ending Aug. 1, 2014, the STLFSI measured -1.282, an increase from the previous week’s revised value of -1.347.  www.stlouisfed.org/newsroom/displayNews.cfm?article=2273

August 7, 2014 - Statistical Release - Consumer Credit - G.19 - Consumer credit increased at a seasonally adjusted annual rate of 7-3/4 percent during the second quarter. Revolving credit increased at an annual rate of 5-1/2 percent, while nonrevolving credit increased at an annual rate of 8-3/4 percent. In June, consumer credit increased at an annual rate of 6-1/2 percent. www.federalreserve.gov/releases/g19/current/default.htm

August 7, 2014 - Business to Business Credit to Small Firms - Traci Mach - Following the financial crisis, total outstanding loans to businesses by commercial banks dropped off substantially. Large loans outstanding began to rebound by the third quarter of 2010 and essentially returned to their previous growth trajectory while small loans outstanding continued to decline.  www.federalreserve.gov/pubs/feds/2014/201455/201455pap.pdf

August 7, 2014 - Stochastic Intensity Models of Wrong Way Risk: Wrong Way CVA Need Not Exceed Independent CVA - Samim Ghamami and Lisa R. Goldberg - Wrong way risk can be incorporated in Credit Value Adjustment calculations in a reduced form model. Hull and White [2012] introduced a CVA model that captures wrong way risk by expressing the stochastic intensity of a counterparty's default time in terms of the financial institution's credit exposure to the counterparty.  www.federalreserve.gov/pubs/feds/2014/201454/201454pap.pdf

August 7, 2014 - Limited Deposit Insurance Coverage and Bank Competition - Oz Shy, Rune Stenbacka, and Vladimir Yankov - Deposit insurance schemes in many countries place a limit on the coverage of deposits in each bank. www.federalreserve.gov/pubs/feds/2014/201453/201453pap.pdf

August 7, 2014 - Federal Reserve Bulletin - Legal Developments: Second Quarter, 2014 - Nine orders were issued this quarter, one for Cullen/Frost Bankers, Inc., First Interstate BancSystem, Inc., MB Financial, Inc., Old National Bancorp, and Umpqua Holdings Corporation under Section 3 of the Bank Holding Company Act; one for PacWest Bancorp under Section 4 of the Bank Holding Company Act; one for Mercantile Bank Corporation under Sections 3 and 4 of the Bank Holding Company Act; and one for CaixaBank, S.A. and The Joyo Bank, Ltd. under the International Banking Act.  www.federalreserve.gov/pubs/bulletin/2014/pdf/legalq214.pdf

August 7, 2014 - Proposal for Comment - Proposal to approve under OMB delegated authority the revision, without extension, of the following reports: FR Y-9C and FR Y-9SP.  www.federalreserve.gov/apps/foia/proposedregs.aspx#icp

August 7, 2014 - Federal Reserve Board issues Report on the Economic Well-Being of U.S. Households - In its new Report on the Economic Well-Being of U.S. Households, the Federal Reserve Board provides a snapshot of the self-perceived financial and economic well-being of U.S. households and the issues they face, based on responses to the Board's 2013 Survey of Household Economics and Decisionmaking.  www.federalreserve.gov/newsevents/press/other/20140807a.htm

August 7, 2014 - Federal Reserve Board announces termination of enforcement action with Stark Bank Group and First American Bank.   www.federalreserve.gov/newsevents/press/enforcement/20140807a.htm

August 7, 2014 - NCUA Hosting Webinar on Business Continuity Planning and Disaster Recovery - Learn How Your Credit Union Can Maintain Operations during an Emergency - Effective business continuity planning and disaster recovery practices will be discussed during a free webinar, “Business Continuity Planning,” offered by the National Credit Union Administration on Wednesday, August 20, at 2 p.m. Eastern. www.ncua.gov/News/Pages/NW20140807Webinar.aspx

August 6, 2014 - Update on Financial Conditions - The NFCI and ANFCI in early August indicated that financial conditions were nearly one and one-half standard deviations looser-than average, respectively, than their historical averages. www.chicagofed.org/webpages/publications/nfci/index.cfm

August 6, 2014 - Federal Reserve announces it has not objected to a resubmitted capital plan from Bank of America Corporation.   www.federalreserve.gov/newsevents/press/bcreg/bcreg20140806a1.pdf

August 5, 2014 - NCUA - 62 Credit Unions Agree to Late-Filing Penalties - Matz: Full Compliance with Call Report Filing Deadlines Still the Goal - All 62 credit unions subject to civil money penalties for the late filing of their first-quarter Call Reports have consented to those penalties, the National Credit Union Administration announced today. www.ncua.gov/News/Pages/NW20140805LateFilers.aspx

August 5, 2014 - Regulatory Reform - Communications with the public through August 5, 2014.   www.federalreserve.gov/newsevents/reform_meetings.htm
 
August 5, 2014 - Agencies provide feedback on second round resolution plans of "First-Wave" filers - Firms required to address shortcomings in 2015 submissions - The Board of Governors of the Federal Reserve System and the Board of Directors of the Federal Deposit Insurance Corporation announced the completion of reviews of the second round of resolution plans submitted by 11 large, complex banking organizations in 2013.
Press Release: www.federalreserve.gov/newsevents/press/bcreg/20140805a.htm
Press Release: www.fdic.gov/news/news/press/2014/pr14067.html

August 5, 2014 - Federal Reserve Board issues enforcement action with Ackley State Bank and terminations of enforcement actions with Anchor Bancorp Wisconsin, Community Financial Shares, and SWNB Bancorp.  www.federalreserve.gov/newsevents/press/enforcement/20140805a.htm

August 4, 2014 - Industrial Clusters and Economic Development in Milwaukee, Wisc. - In a recent blog posting, Federal Reserve Bank of Chicago's Rick Mattoon summarizes major trends in selected Midwest metropolitan economies. http://midwest.chicagofedblogs.org/archives/2014/08/milwaukee_econ.html 

August 4, 2014 - NCUA - Matz Designates Metsger as Vice Chairman - National Credit Union Administration Board Chairman Debbie Matz today designated Board Member Rick Metsger as Vice Chairman of NCUA, effective immediately. www.ncua.gov/News/Pages/NW20140804Metsger.aspx

August 4, 2014 - FDIC Announces Youth Savings Pilot Program - The FDIC announces the launch of a pilot program to identify and highlight promising approaches to offering financial education tied to the opening of safe, low-cost savings accounts to school-aged children.  www.fdic.gov/news/news/press/2014/pr14066.html

August 4, 2014 - FDIC Issues List of Banks Examined for CRA Compliance - The Federal Deposit Insurance Corporation today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act. The list covers evaluation ratings that the FDIC assigned to institutions in May 2014. www.fdic.gov/news/news/press/2014/pr14065.html

August 4, 2014 - The Low Frequency Effects of Macroeconomic News on Government Bond Yields - Carlo Altavilla, Domenico Giannone, and Michele Modugno - This study analyzes the reaction of the U.S. Treasury bond market to innovations in macroeconomic fundamentals.  www.federalreserve.gov/pubs/feds/2014/201452/201452pap.pdf

August 4, 2014 - Non-linearity in the Inflation-Growth Relationship in Developing Economies: Evidence from a Semiparametric Panel Model -
Deniz Baglan and Emre Yoldas - Using data on developing economies, we estimate a flexible semiparametric panel data model that incorporates potentially nonlinear effects of inflation on economic growth.  www.federalreserve.gov/pubs/feds/2014/201451/201451pap.pdf

August 4, 2014 - The July 2014 Senior Loan Officer Opinion Survey on Bank Lending Practices - The July 2014 Senior Loan Officer Opinion Survey on Bank Lending Practices addressed changes in the standards and terms on, and demand for, bank loans to businesses and households over the past three months. www.federalreserve.gov/boarddocs/snloansurvey/201408/default.htm

August 4, 2014 - Financial Stability Monitoring - Tobias Adrian, Daniel Covitz, Nellie Liang - In a recently released New York Fed staff report, we present a forward-looking monitoring program to identify and track time-varying sources of systemic risk.  www.newyorkfed.org/research/staff_reports/sr601.pdf

August 1, 2014 - NCUA Awards More than $1 Million to 174 Low-Income Credit Unions - Funds Support New Products and Services, Training, CDFI Certifications, Collaboration - Low-income credit unions will be able to expand services to members, train staff and collaborate for greater efficiencies with more than $1 million in grants awarded today by the National Credit Union Administration. www.ncua.gov/News/Pages/NW20140801Grants.aspx

August 1, 2014 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

August 1, 2014 - FEDS Notes - Enhanced Financial Accounts - The Federal Reserve Board has begun an ambitious and long-term effort to upgrade the Financial Accounts of the United States to provide a significantly more detailed and timely picture of financial intermediation in the United States.  www.federalreserve.gov/econresdata/notes/feds-notes/2014/enhanced-financial-accounts-20140801.html

August 1, 2014 - Statistical Release - Foreign Exchange Rates - G.5 - The table below shows the average rates of exchange in JULY 2014 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