The E-mail Banking News
(Bank Regulatory News)
January 2020

January 31, 2020 - Midwest Economy Index Points to Little Change in Growth in December - The Midwest Economy Index (MEI) edged up to –0.44 in December from –0.48 in November. Midwest Economy Index Points to Little Change in Growth in December. www.chicagofed.org/~/media/publications/mei/2019/mei-december2019-pdf.pdf

January 31, 2020 - NCUA Issues Prohibition Notices and Orders - The National Credit Union Administration issued six prohibition notices and one prohibition order in January. These individuals are prohibited from participating in the affairs of any federally insured financial institution. www.ncua.gov/newsroom/press-release/2020/ncua-issues-prohibition-notices-and-orders 

January 31, 2020 - Shared National Credit Review Finds Risk Remains Elevated in Leveraged Loans - Federal bank regulatory agencies find that the share and amount of loan commitments with the lowest supervisory ratings rose slightly between 2018 and 2019, according to the Shared National Credit Program Review. Total commitments with low ratings remain elevated compared to lows reached during prior periods of strong economic performance. www.occ.gov/news-issuances/news-releases/2020/nr-ia-2020-15.html

January 31, 2020 - Comptroller of the Currency Helps Kick Off 2020 Summer Intern Process - Comptroller of the Currency Joseph M. Otting today joined District of Columbia Mayor Muriel Bowser and the heads of other federal agencies to kick off the 2020 Mayor Marion S. Barry Summer Youth Employment Program (MBSYEP) in the District. www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-14.html

January 31, 2020 - Dr. Christina Handley Named OCC Chief Information Officer - The Office of the Comptroller of the Currency today announced the selection of Dr. Christina Handley to be the agency's Chief Information Officer, effective March 1, 2020. www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-13.html

January 31, 2020 - OCC Promotes Earned Income Tax Credit Awareness Day - In an effort to make more eligible working families aware of the benefits of the Earned Income Tax Credit, the Office of the Comptroller of the Currency is promoting the 14th annual EITC Awareness Day on January 31. www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-12.html

January 31, 2020 - Banker Webinar: New Standardized Approach for Calculating the Exposure Amount of Derivative Contracts - The FDIC will host a webinar to discuss the "standardized approach for counterparty credit risk, a new risk-based capital approach for calculating the exposure amount for derivative contracts, on February 18, 2020 from 2:00 p.m. to 3:00 p.m. Eastern Time. www.fdic.gov/news/news/financial/2020/fil20006.html 

January 31, 2020 - FDIC Makes Public December Enforcement Actions - The FDIC issued 20 orders in December 2019. The administrative enforcement actions in those orders consisted of one consent order; two orders to pay; three terminations of consent order; one order terminating supervisory prompt corrective action; six section 19 orders; four termination of insurance orders; one order of prohibition of further participation; one termination of restitution; and one order dismissing notice of charges and of hearing. www.fdic.gov/news/news/press/2020/pr20006.html

January 31, 2020 - How Do U.S. Global Systemically Important Banks Lower Their Capital Surcharges? - Jared Berry, Akber Khan, and Marcelo Rezende - In recent years, many countries introduced surcharges on global systemically important banks.  www.federalreserve.gov/econres/notes/feds-notes/how-do-us-global-systemically-important-banks-lower-their-capital-surcharges-20200131.htm 

January 31, 2020 - Evaluating the Success of President Johnson's War on Poverty: Revisiting the Historical Record Using a Full-Income Poverty Measure - Richard V. Burkhauser, Kevin Corinth, James Elwell, and Jeff Larrimore - We evaluate progress in President's Johnson's War on Poverty.  www.federalreserve.gov/econres/feds/evaluating-success-president-johnsons-war-on-poverty-revisiting-historical-record-using-full-income-poverty-measure.htm

January 31, 2020 - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

January 31, 2020 - When is Bad News Good News? U.S. Monetary Policy, Macroeconomic News, and Financial Conditions in Emerging Markets - Jasper Hoek, Steve Kamin, and Emre Yoldas - Rises in U.S. interest rates are often thought to generate adverse spillovers to emerging market economies.  www.federalreserve.gov/econres/ifdp/when-is-bad-news-good-news-u-s-monetary-policy-macroeconomic-news-and-financial-conditions-in-emerging-markets.htm

January 31, 2020 - Bias in Local Projections - Edward P. Herbst and Benjamin K. Johannsen - Local projections are a popular tool in applied macroeconomic research. We survey the related literature and find that LPs are often used with very small samples in the time dimension.  www.federalreserve.gov/econres/feds/bias-in-local-projections.htm

January 31, 2020 - Central Clearing and Systemic Liquidity Risk - Thomas King, Travis D. Nesmith, Anna Paulson, and Todd Prono - By stepping between bilateral counterparties, a central counterparty transforms credit exposure. CCPs generally improve financial stability. ww.federalreserve.gov/econres/feds/central-clearing-and-systemic-liquidity-risk.htm

January 31, 2020 - Treasury safety, liquidity, and money premium dynamics: Evidence from recent debt limit impasses - David Cashin, Erin E. Syron Ferris, and Elizabeth Klee - Treasury securities normally possess unparalleled safety and liquidity and, consequently, carry a money premium. www.federalreserve.gov/econres/feds/treasury-safety-liquidity-and-money-premium-dynamics-evidence-from-recent-debt-limit-impasses.htm

January 31, 2020 - Do Minorities Pay More for Mortgages? - Neil Bhutta and Aurel Hizmo - We test for racial discrimination in the prices charged by mortgage lenders. We construct a unique dataset where we observe all three dimensions of a mortgage's price: the interest rate, discount points, and fees. www.federalreserve.gov/econres/feds/do-minorities-pay-more-for-mortgages.htm

January 31, 2020 - 2019 FOMC FOIA Annual Report. www.federalreserve.gov/foia/fomc/annrept_2019.htm 

January 31, 2020 - Shared National Credit Review finds risk remains elevated in leveraged loans - Federal bank regulatory agencies find that the share and amount of loan commitments with the lowest supervisory ratings rose slightly between 2018 and 2019, according to the Shared National Credit Program Review.
Press Report: www.federalreserve.gov/newsevents/pressreleases/bcreg20200131a.htm
Press Report: www.fdic.gov/news/news/press/2020/pr20007.html

January 30, 2020 - Kansas City Fed announces 2020 Community Development Advisory Council appointments - The council, composed of community, business and labor leaders from the Kansas City Fed’s seven-state region, advises the Bank on current developments and emerging issues in community and economic development. www.kansascityfed.org/newsroom/newsreleases/2020/2020%20cdac%20appointments

January 30, 2020 - Michelle W. Bowman sworn in for second term as member of the Board of Governors of the Federal Reserve System.   www.federalreserve.gov/newsevents/pressreleases/other20200130a.htm 

January 30, 2020 - Agencies propose changes to modify Volcker rule "covered funds" restrictions - Five federal financial regulatory agencies on Thursday invited public comment on a proposal to modify regulations implementing the Volcker rule's general prohibition on banking entities investing in or sponsoring hedge funds or private equity funds—known as "covered funds."
Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20200130b.htm
Press Release: www.fdic.gov/news/news/press/2020/pr20005.html
Press Release: www.occ.gov/news-issuances/news-releases/2020/nr-ia-2020-11.html
_____________________________

January 30, 2020 - Comptroller of the Currency Approves Proposal to Revise Volcker Rule Covered Funds Provisions - The Comptroller of the Currency today approved a proposed rule to revise the "covered funds" provisions in the regulations implementing Section 13 of the Bank Holding Company Act of 1956, also known as the Volcker Rule. www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-10.html

January 30, 2020 - Kansas City Fed announces 2020 Community Development Advisory Council appointments - The Federal Reserve Bank of Kansas City has announced five appointments to its Community Development Advisory Council for 2020.  www.kansascityfed.org/newsroom/newsreleases/2020/2020%20cdac%20appointments

January 30, 2020 - Federal Reserve Board issues enforcement action with Alden State Bank.  www.federalreserve.gov/newsevents/pressreleases/enforcement20200130a.htm

January 30, 2020 - Federal Reserve finalizes rule to simplify and increase the transparency of the Board's rules for determining control of a banking organization - If a company has control over a banking organization, the company generally becomes subject to the Board's rules and regulations. www.federalreserve.gov/newsevents/pressreleases/bcreg20200130a.htm

January 29, 2020 - Comptroller of the Currency Discusses Efforts to Strengthen Community Reinvestment Act Regulations, Condition of the Federal Banking System - Comptroller of the Currency Joseph M. Otting today testified during a hearing held by the House Financial Services Committee. www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-9.html

January 29, 2020 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at on January 28, 2020 and continued at 9:00 a.m. on January 29, 2020. Matter(s) considered: Discussion of Monetary Policy Issues. www.federalreserve.gov/aboutthefed/boardmeetings/20200128closed.htm

January 29, 2020 - Federal Reserve issues FOMC statement - Information received since the Federal Open Market Committee met in December indicates that the labor market remains strong and that economic activity has been rising at a moderate rate. www.federalreserve.gov/newsevents/pressreleases/monetary20200129a.htm

January 28, 2020 - OCC Hosts Risk Governance and Compliance Workshops in Washington, D.C. - The Office of the Comptroller of the Currency (OCC) will host two workshops at OCC Headquarters in Washington, D.C., March 17 and 18, for directors of national community banks and federal savings associations supervised by the OCC. www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-8.html

January 28, 2020 - Statement from St. Louis Fed on Nomination of Christopher Waller to Board of Governors - Today, President Trump formally nominated Chris Waller, executive vice president and research director at the St. Louis Fed, to be a member of the Board of Governors of the Federal Reserve System to fill a currently unexpired term ending Jan. 31, 2030. www.stlouisfed.org/news-releases/2020/01/28/waller-nomination-statement

January 28, 2020 - Prudent Management of Agricultural Lending During Economic Cycles - Between 2010 and 2015, the U.S. agricultural industry enjoyed generally robust economic conditions. More recently, the industry has been experiencing low commodity prices, trade and tariff uncertainties, impacts from adverse weather conditions, and global supply and demand issues. www.fdic.gov/news/news/financial/2020/fil20005.html

January 28, 2020 - Statement from St. Louis Fed on Nomination of Christopher Waller to Board of Governors - Today, President Trump formally nominated Chris Waller, executive vice president and research director at the St. Louis Fed, to be a member of the Board of Governors of the Federal Reserve System to fill a currently unexpired term ending Jan. 31, 2030. www.stlouisfed.org/news-releases/2020/01/28/waller-nomination-statement

January 27, 2020 - OCC Hosts Credit Risk and Operational Risk Workshops in New Orleans - The Office of the Comptroller of the Currency will host two workshops at the Embassy Suites by Hilton in New Orleans, March 3-4, for directors of national community banks and federal savings associations supervised by the OCC. www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-7.html

January 27, 2020 - Membership Appointments Announced for the Federal Reserve Bank of San Francisco�s Economic Advisory Council - The Federal Reserve Bank of San Francisco has announced the appointments of Jeremy Andrus, president, chief executive officer, and board member of Traeger Grills, and Daniel G. Weiss, co-founder and managing partner of Angeleno Group, to the Bank�s Economic Advisory Council. www.frbsf.org/our-district/press/news-releases/2020/membership-appointments-announced-economic-advisory-council/

January 27, 2020 - Emerging Trends in U.S and Oklahoma Economies By Chad Wilkerson Vice President and Oklahoma City Branch Executive.   www.kansascityfed.org/~/media/files/publicat/speeches/2020/wilkerson-2020-1-27-plainscottoncoop.pdf

January 27, 2020 - St. Louis Fed Appoints Members to Community Banking Advisory Council - The Federal Reserve Bank of St. Louis has appointed six new members to its Community Depository Institutions Advisory Council, which advises St. Louis Fed President James Bullard on the credit, banking and economic conditions facing council members� institutions and local communities. www.stlouisfed.org/news-releases/2020/01/28/st-louis-fed-appoints-members-to-community-banking-advisory-council 

January 27, 2020 - Chicago Fed Earns Top Marks in 2020 Corporate Equality Index - The Federal Reserve Bank of Chicago earns 100 percent on the Human Rights Campaign Foundation�s annual scorecard assessing LGBTQ workplace equality. www.chicagofed.org/publications/news/2020/best-place-to-work-for-lgbtq-equality-01-21-2020

January 24, 2020 - Regulatory Relief: Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Puerto Rico Affected by Earthquakes - The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Puerto Rico affected by earthquakes. www.fdic.gov/news/news/financial/2020/fil20004.html

January 24, 2020 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update.  www.federalreserve.gov/aboutthefed/boardmeetings/20200128closed.htm

January 24, 2020 - Advanced Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System will be held under expedited procedures at 10:00 a.m. on January 28, 2020. Matter(s) considered: Discussion of Monetary Policy Issues. www.federalreserve.gov/recentpostings.htm

January 23, 2020 - NCUA Chairman Rodney E. Hood Statement on the Proposed Subordinated Debt Rule.  www.ncua.gov/newsroom/speech/2020/ncua-chairman-rodney-e-hood-statement-proposed-subordinated-debt-rule

January 23, 2020 - NCUA Chairman Rodney E. Hood Statement on the Proposed Combination Transactions Rule.  www.ncua.gov/newsroom/speech/2020/ncua-chairman-rodney-e-hood-statement-proposed-combination-transactions-rule

January 23, 2020 - NCUA - Board Proposes Rules on Subordinated Debt, Combination Transactions - The National Credit Union Administration Board held its first open meeting of 2020 at the agency�s headquarters today and unanimously approved four items: www.ncua.gov/newsroom/press-release/2020/board-proposes-rules-subordinated-debt-combination-transactions

January 23, 2020 - NCUA - Fazio Named New Executive Director, Others Named to Key Positions - National Credit Union Administration Chairman Rodney E. Hood announced today that the NCUA Board unanimously approved several changes to the agency�s leadership: www.ncua.gov/newsroom/press-release/2020/fazio-named-new-executive-director-others-named-key-positions

January 23, 2020 - NCUA Board Member Todd M. Harper Statement on the Subordinated Debt Proposed Rule. www.ncua.gov/newsroom/speech/2020/ncua-board-member-todd-m-harper-statement-subordinated-debt-proposed-rule

January 23, 2020 - NCUA Board Member Todd M. Harper Statement on Credit Union Combination Transactions.  www.ncua.gov/newsroom/speech/2020/ncua-board-member-todd-m-harper-statement-credit-union-combination-transactions

January 23, 2020 - NCUA Board Member J. Mark McWatters Statement on the Proposed Subordinated Debt Regulations.  www.ncua.gov/newsroom/speech/2020/ncua-board-member-j-mark-mcwatters-statement-proposed-subordinated-debt-regulations

January 23, 2020 - NCUA Board Member J. Mark McWatters Statement on the Proposed Credit Union Combination Transactions.  www.ncua.gov/newsroom/speech/2020/ncua-board-member-j-mark-mcwatters-statement-proposed-credit-union-combination-transactions

January 23, 2020 - OCC Issues Notice of Charges Against Five Former Senior Wells Fargo Bank Executives, Announces Settlement With Others - The Office of the Comptroller of the Currency today issued a notice of charges against five former senior executives of Wells Fargo Bank, N.A., Sioux Falls, South Dakota, and announced settlements with the bank�s former Chief Executive Officer and other members of the bank�s operating committee. www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-6.html

January 23, 2020 - St. Louis Fed Earns Perfect Score on Corporate Equality Index - The St. Louis Fed received a perfect score of 100 on the Corporate Equality Index for its demonstrated commitment to an inclusive workplace culture.  www.stlouisfed.org/news-releases/2020/01/23/st-louis-fed-earns-perfect-score-on-corporate-equality-index

January 23, 2020 - Southwest Indiana Chamber President Joins St. Louis Fed�s Louisville Branch Board - Tara England Barney, president and CEO of the Southwest Indiana Chamber of Commerce in Evansville, Ind., has been appointed to fill the unexpired portion of a three-year term on the Louisville board of directors of the Federal Reserve Bank of St. Louis. www.stlouisfed.org/news-releases/2020/01/23/southwest-indiana-chamber-president-joins-st-louis-fed-louisville-branch-board

January 23, 2020 - Notice of Open Board Meeting - An Open Board meeting of the Board of Governors of the Federal Reserve System will be held at 9:30 a.m. on January 30, 2020. Matter(s) considered: Notice of Proposed Rulemaking on Section 13 of the Bank Holding Company Act (Volcker Rule). Final Rule to Revise the Board's Control Framework. www.federalreserve.gov/aboutthefed/boardmeetings/20200130open.htm

January 23, 2020 - Payment Systems - 2019:Q3 Data: $1 Coin Quarterly Inventories, Payments, and Receipts.  www.federalreserve.gov/paymentsystems/coin_dollarcoin.htm
__________________________

January 23, 2020 - Leadership and Membership Announcements for the Federal Reserve Bank of San Francisco�s Board of Directors - The Federal Reserve Bank of San Francisco has announced the appointment of Richard M. Sanborn, president and chief executive officer of Seacoast Commerce Bank in San Diego, as a San Francisco Head Office Director www.frbsf.org/our-district/press/news-releases/2020/leadership-and-membership-announcements-board-of-directors-2020/

January 23, 2020 - Leadership and Membership Announcements for the Federal Reserve Bank of San Francisco�s Seattle Branch Board of Directors - The Federal Reserve Bank of San Francisco has appointed Bob C. Donegan, President, Ivar�s Inc., a company that operates seafood restaurants in Washington state, as the Bank�s Seattle branch director. www.frbsf.org/our-district/press/news-releases/2020/leadership-and-membership-announcements-seattle-branch-board-of-directors-2020/

January 23, 2020 - Leadership and Membership Announcements for the Federal Reserve Bank of San Francisco�s Salt Lake City Branch Board of Directors - The Federal Reserve Bank of San Francisco has appointed Dr. Deneece G. Huftalin, president of Salt Lake Community College, as the Bank�s newest Salt Lake City branch director. www.frbsf.org/our-district/press/news-releases/2020/leadership-and-membership-announcements-salt-lake-city-branch-board-of-directors-2020/

January 23, 2020 - Leadership and Membership Announcements for the Federal Reserve Bank of San Francisco�s Portland Branch Board of Directors - The Federal Reserve Bank of San Francisco has appointed Maria Pope, president and chief executive officer of Portland General Electric, as the Bank�s newest Portland branch director. www.frbsf.org/our-district/press/news-releases/2020/leadership-and-membership-announcements-portland-branch-board-of-directors-2020/

January 23, 2020 - Leadership and Membership Announcements for the Federal Reserve Bank of San Francisco�s Los Angeles Branch Board of Directors - The Federal Reserve Bank of San Francisco has re-appointed Steven W. Streit, founder and chief innovation officer of Green Dot Corporation, a financial technology and bank holding company in Pasadena, to its Los Angeles branch board of directors for a second three-year term. www.frbsf.org/our-district/press/news-releases/2020/leadership-and-membership-announcements-los-angeles-branch-board-of-directors-2020/

January 22, 2020 - Chicago Fed Earns Top Marks in 2020 Corporate Equality Index - The Federal Reserve Bank of Chicago earns 100 percent on the Human Rights Campaign Foundation�s annual scorecard assessing LGBTQ workplace equality. www.chicagofed.org/publications/news/2020/best-place-to-work-for-lgbtq-equality-01-21-2020

January 22, 2020 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at on January 22, 2020. Matter(s) considered: Periodic Briefing and Discussion on Financial Markets, Institutions, and Infrastructure. www.federalreserve.gov/aboutthefed/boardmeetings/20200122closed.htm

January 21, 2020 - NCUA - Cayse Named Western Region Associate Regional Director of Operations - National Credit Union Administration Executive Director Mark Treichel today announced the selection of Julie Cayse as associate regional director of operations for the agency�s Western Region. www.ncua.gov/newsroom/press-release/2020/cayse-named-western-region-associate-regional-director-operations

January 21, 2020 - OCC Fines Citibank More Than $17 Million for Violating the Flood Disaster Protection Act - The Office of the Comptroller of the Currency today announced a $17,998,510 civil money penalty against Citibank, N.A, of Sioux Falls, South Dakota, for violating the Flood Disaster Protection Act of 1973 and its implementing regulations. www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-5.html

January 21, 2020 - Kansas City Fed recognized in 2020 Corporate Equality Index - The Federal Reserve Bank of Kansas City announced that it has been recognized by the Human Rights Campaign Foundation�s 2020 Corporate Equality Index, the nation�s premier benchmarking survey and report measuring corporate policies and practices
related to LGBTQ workplace equality. www.kansascityfed.org/~/media/files/publicat/newsroom/2020/cei_bankrelease_012120.pdf

January 21, 2020 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at 11:00 a.m. on January 21, 2020. Matter(s) considered: Review and determination by the Board of Governors of the advance and discount rates to be charged by the Federal Reserve Banks. www.federalreserve.gov/aboutthefed/boardmeetings/20200121closed.htm

January 17, 2020 - Approximately Right?: Global v. Local Methods for Open-Economy Models with Incomplete Markets - Oliver de Groot, C. Bora Durdu and Enrique G. Mendoza - Global and local methods are widely used in international macroeconomics to analyze incomplete-markets models.  www.federalreserve.gov/econres/feds/approximately-right-global-v-local-methods-for-open-economy-models-with-incomplete-markets.htm

January 17, 2020 - Statistical Release - Finance Companies - G.20. www.federalreserve.gov/releases/g20/current/g20.htm

January 17, 2020 - How ETFs Amplify the Global Financial Cycle in Emerging Markets - Nathan Converse, Eduardo Levy-Yeyati, and Tomas Williams - This paper examines how the growth of exchange-traded funds has affected the sensitivity of international capital flows to global financial conditions. www.federalreserve.gov/econres/ifdp/how-etfs-amplify-the-global-financial-cycle-in-emerging-markets.htm

January 17, 2020 - Goods-Market Frictions and International Trade - Pawel M. Krolikowski and Andrew H. McCallum - The difficulty of locating and building connections with overseas buyers is a prevalent firm-level barrier to exporting. www.federalreserve.gov/econres/notes/feds-notes/goods-market-frictions-and-international-trade-20200117.htm

January 17, 2020 - Advanced Notice of a Meeting under Expedited Procedures- A closed meeting of the Board of Governors of the Federal Reserve System will be held under expedited procedures at 10:00 a.m. on January 22, 2020. www.federalreserve.gov/aboutthefed/boardmeetings/20200122closed.htm

January 17, 2020 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

January 17, 2020 - Legal Developments: Third Quarter, 2019 - Three orders were issued this quarter, one for Chemical Financial Corporation and one for Hancock Whitney Corporation under section 3 of the Bank Holding Company Act; and one for Vista Bank under the Federal Reserve Act. www.federalreserve.gov/publications/files/legalq319.pdf

January 17, 2020 - Federal Reserve Bulletin - Legal Developments: Third Quarter, 2019.  https://www.federalreserve.gov/publications/files/legalq319.pdf

January 17, 2020 - Industrial Production and Capacity Utilization - G.17 - Industrial production declined 0.3 percent in December, as a decrease of 5.6 percent for utilities outweighed increases of 0.2 percent for manufacturing and 1.3 percent for mining.  www.federalreserve.gov/releases/g17/current/default.htm

January 17, 2020 - Speech by Vice Chair for Supervision Quarles on spontaneity and order: transparency, accountability, and fairness in bank supervision At the American Bar Association Banking Law Committee Meeting 2020, Washington, D.C. www.federalreserve.gov/newsevents/speech/quarles20200117a.htm

January 16, 2020 - FDIC Names New Chief Information Officer - The Federal Deposit Insurance Corporation today named Sylvia Burns as the agency's Chief Information Officer and Chief Privacy Officer.  www.fdic.gov/news/news/press/2020/pr20004.html

January 16, 2020 - Consumption Heterogeneity: Micro Drivers and Macro Implications - Edmund Crawley and Andreas Kuchler - This paper explores the microfoundations of consumption models and quantifies the macro implications of consumption heterogeneity.  www.federalreserve.gov/econres/feds/consumption-heterogeneity-micro-drivers-and-macro-implications.htm

January 16, 2020 - Advanced Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System will be held under expedited procedures at 11:30 a.m. on January 21, 2020. Matter(s) considered: Review and determination by the Board of Governors of the advance and discount rates to be charged by the Federal Reserve Banks. www.federalreserve.gov/aboutthefed/boardmeetings/20200121closed.htm
____________________________________

January 16, 2020 - OCC Enforcement Actions and Terminations - 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. https://www.occ.treas.gov/news-issuances/news-releases/2020/nr-occ-2020-4.html

January 16, 2020 - FDIC Updates Money Smart for Small Business Credit and Banking Modules - As part of their ongoing commitment to strengthening bank-community partnerships, the Federal Deposit Insurance Corporation and U.S. Small Business Administration today released two updates to the popular Money Smart for Small Business curriculum.  www.fdic.gov/news/news/press/2020/pr20003.html

January 16, 2020 - Confidence, financial literacy and investment in risky assets: Evidence from the Survey of Consumer Finances - Andrej Cup�k, Pirmin Fessler, Joanne W. Hsu, Piotr R. Paradowski - We employ recent Survey of Consumer Finances microdata from the US to analyze the impacts of confidence in one's own financial knowledge, confidence in the economy, and objective financial literacy on investment in risky financial assets on both the extensive and intensive margins. www.federalreserve.gov/econres/feds/files/2020004pap.pdf

January 16, 2020 - Supervision Manual - A User's Guide for the Bank Holding Company Performance Report, June 2019 - Serves as an aid in using the Bank Holding Company Performance Report. Provides definitions of the financial ratios and items presented on each page of the BHCPR. www.federalreserve.gov/publications/files/_A_Users_Guide_for_the_Bank_Holding_Company_Performance_Report_Final.pdf

January 16, 2020 - Speech by Governor Bowman on the outlook for housing At the 2020 Economic Forecast Breakfast, Home Builders Association of Greater Kansas City, Kansas City, Missouri.   www.federalreserve.gov/newsevents/speech/bowman20200116a.htm

January 15, 2020 - Economic Outlook Symposium: Summary of 2019 Results and 2020 Forecasts By William A. Strauss , Kelley Sarussi - According to participants in the Chicago Fed�s annual Economic Outlook Symposium, the U.S. economy is forecasted to expand at a pace in 2020 near the long-term average, with inflation ticking up and the unemployment rate remaining low. www.chicagofed.org/publications/chicago-fed-letter/2020/429

January 15, 2020 - Chicago Fed Survey of Business Conditions Shows Steady Growth in Late November and December - The Chicago Fed Survey of Business Conditions Activity Index edged down to -8 from -6, suggesting that growth in economic activity remained at a modest pace in late November and December.  www.chicagofed.org/~/media/publications/cfsbc/2020/cfsbc-january2020-pdf.pdf

January 15, 2020 - St. Louis Fed�s Wolla Awarded for his Economic Education Work - Scott Wolla, economic education coordinator at the Federal Reserve Bank of St. Louis, was named the 2020 winner of the Bessie B. Moore Service Award from the National Association of Economic Educators. www.stlouisfed.org/news-releases/2020/01/15/st-louis-fed-wolla-awarded-for-his-economic-education-work

January 15, 2020 - St. Louis Fed Presents: The Community Reinvestment Act - Separating Truth from Myths - The Community Reinvestment Act has played an integral part in expanding access to credit in communities and to borrowers across the United States. www.stlouisfed.org/news-releases/2020/01/15/st-louis-fed-presents-the-community-reinvestment-act-separating-truth-from-myths

January 15, 2020 - Beige Book - Informal review by the Federal Reserve Banks of current economic conditions in their Districts - This report was prepared at the Federal Reserve Bank of New York based on information collected on or before January 6, 2020. www.federalreserve.gov/monetarypolicy/beigebook202001.htm

January 14, 2020 - 2020 Vision: Solid Growth in a Challenging Low-Interest-Rate World By Esther George President and Chief Executive Officer Federal Reserve Bank of Kansas City.   www.kansascityfed.org/~/media/files/publicat/speeches/2020/2020-george-kansascity-01-14.pdf

January 14, 2020 - Frequently Asked Questions on the Tailoring Rules - The Board of Governors of the Federal Reserve System is issuing frequently asked questions in response to questions from institutions regarding the final rules to tailor certain prudential standards for large domestic and foreign banking organizations to more closely match their risk profiles. www.federalreserve.gov/supervisionreg/srletters/SR2002.htm

January 14, 2020 - Federal Reserve Board announces members of its Community Depository Institutions Advisory Council for 2020 - The CDIAC advises the Board on the economy, lending conditions, and other issues of interest to community depository institutions. www.federalreserve.gov/newsevents/pressreleases/other20200114a.htm 

January 13, 2020 - Symposium Participants Forecast Economy to Grow at Pace Near Average in 2020 By William A. Strauss , Kelley Sarussi - According to participants in the Chicago Fed�s annual Economic Outlook Symposium, the U.S. economy is forecasted to expand at a pace in 2020 near the long-term average, with inflation ticking up and the unemployment rate remaining low. www.chicagofed.org/publications/chicago-fed-letter/2020/429

January 13, 2020 - St. Louis Fed Accepting Applications for 2020-21 Student Board of Directors - The St. Louis Fed�s student board of directors program offers high school seniors a dynamic way to learn about our nation's central bank. www.stlouisfed.org/news-releases/2020/01/13/st-louis-fed-accepts-applications-for-202021-student-board-of-directors 

January 13, 2020 - Consolidated Reports of Condition and Income for Fourth Quarter 2019 - The Consolidated Reports of Condition and Income for the December 31, 2019, report date must be submitted to the agencies' Central Data Repository by Thursday, January 30, 2020. Certain institutions with foreign offices have an additional five calendar days to file their reports. www.fdic.gov/news/news/financial/2020/fil20002.html

January 13, 2020 - Consolidated Reports of Condition and Income for Fourth Quarter 2019 - The attached materials pertain to the Consolidated Reports of Condition and Income for the December 31, 2019, report date. Please plan to complete as early as possible the preparation, editing, and review of your institution�s Call Report data and the submission of these data to the agencies� Central Data Repository. www.fdic.gov/news/news/financial/2020/fil20001.html 

January 13, 2020 - Legal Developments - Section 19 letters, October 21 (2 letters) and November 21, 2019. www.federalreserve.gov/supervisionreg/ordersother2019.htm

January 10, 2020 - Chicago Fed Announces 2020 Chicago and Detroit Board Members - The Federal Reserve Bank of Chicago today announced the election of four Directors, appointment of a Director, appointment of the Board Chair and Deputy Chair, re-appointment of a Detroit Branch Director, appointment of a Detroit Branch Director, re-appointment of the Detroit Branch Chair, and the re-appointment of the Federal Advisory Council representative. All are effective January 1, 2020. www.chicagofed.org/publications/news/2020/board-of-directors-announcement-01-10-2020

January 10, 2020 - NCUA Offers Information, Assistance to Credit Unions Affected by Puerto Rico Earthquakes - In the wake of the recent earthquakes in Puerto Rico, the National Credit Union Administration will be ready to assist the seven federally insured credit unions there with maintaining or restoring operations, if necessary. www.ncua.gov/newsroom/press-release/2020/ncua-offers-information-assistance-credit-unions-affected-puerto-rico-earthquakes

January 10, 2020 - Community Reinvestment Act : Request for Public Input - The Office of the Comptroller of the Currency today issued a request for public input related to the OCC and Federal Deposit Insurance Corporation�s recent joint notice of proposed rulemaking that would modernize regulations implementing the Community Reinvestment Act. www.occ.gov/news-issuances/bulletins/2020/bulletin-2020-4.html

January 10, 2020 - Community Reinvestment Act : Notice of Proposed Rulemaking - The Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation have issued a joint notice of proposed rulemaking to modernize regulations implementing the Community Reinvestment Act. www.occ.gov/news-issuances/bulletins/2020/bulletin-2020-3.html 

January 10, 2020 - Kansas City Fed announces director election results and appointments - The Federal Reserve Bank of Kansas City announces director election results and appointments to fill seats on its headquarters office and branch boards of directors. All appointments are effective Jan. 1, 2020. www.kansascityfed.org/~/media/files/publicat/newsroom/2020/pressrelease2020boardsofdirectorsdraft.pdf 

January 10, 2020 - D. Bryan Jordan Appointed to Federal Advisory Council - The board of directors of the Federal Reserve Bank of St. Louis has appointed D. Bryan Jordan, chairman, president and CEO of First Horizon National Corp. in Memphis, Tenn., to serve on the Federal Advisory Council for a one-year term that ends on Dec. 31, 2020. www.stlouisfed.org/news-releases/2020/01/10/d-bryan-jordan-appointed-to-federal-advisory-council 

January 10, 2020 - St. Louis Fed Announces Changes to Board of Directors - The Federal Reserve Bank of St. Louis has announced the following changes to its board of directors, effective Jan. 1 www.stlouisfed.org/news-releases/2020/01/10/st-louis-fed-announces-changes-to-board-of-directors

January 10, 2020 - St. Louis Fed Little Rock Branch Announces Changes to Board of Directors.  www.stlouisfed.org/news-releases/2020/01/10/st-louis-fed-little-rock-branch-announces-changes-to-board-of-directors

January 10, 2020 - St. Louis Fed Louisville Branch Announces Changes to Board of Directors.  www.stlouisfed.org/news-releases/2020/01/10/st-louis-fed-louisville-branch-announces-changes-to-board-of-directors

January 10, 2020 - FDIC Named One of the Best Places to Work in the Federal Government - The Federal Deposit Insurance Corporation has again been recognized as one of the top federal agencies listed on the Best Places to Work in the Federal Government� by the Partnership for Public Service. This year, the FDIC ranked No. 4 among midsize agencies, up one spot from last year. www.fdic.gov/news/news/press/2020/pr20002.html

January 10, 2020 - Annual Report to the Congress on the Presidential $1 Coin Program - Reports on the Federal Reserve and the United States Mint's collaborative efforts to develop the Presidential $1 Coin Program and improve the distribution and circulation of $1 coins. www.federalreserve.gov/publications/presidential-dollar-coin-program.htm

January 10, 2020 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update.  www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

January 10, 2020 - 2014 FOMC meeting transcripts, presentation materials, Tealbooks, agendas, and SEP individual projections.  www.federalreserve.gov/monetarypolicy/fomchistorical2014.htm

January 10, 2020 - Federal Reserve Board announces appointment of the chairs and deputy chairs of the Federal Reserve Banks for 2020 - Each Reserve Bank has a nine-member board of directors. The Board of Governors in Washington appoints three of these directors and each year designates one of its appointees as Chair and a second as Deputy Chair. www.federalreserve.gov/newsevents/pressreleases/other20200110b.htm

January 10, 2020 - Federal Reserve Board announces Reserve Bank income and expense data and transfers to the Treasury for 2019 - The Federal Reserve Board on Friday announced preliminary results indicating that the Reserve Banks provided for payments of approximately $54.9 billion to the U.S. Treasury. The 2019 audited Reserve Bank financial statements are expected to be published in March and may include adjustments to these preliminary unaudited results. www.federalreserve.gov/newsevents/pressreleases/other20200110a.htm

January 9, 2020 - St. Louis Fed's Bullard Discusses "A Soft Landing in 2020?" - Bullard discussed how U.S. economic growth slowed on a year-over-year basis in 2019. �The Federal Open Market Committee took action to help ensure a soft landing by dramatically altering the path of monetary policy during 2019,� he said. www.stlouisfed.org/news-releases/2020/01/09/bullard-discusses-a-soft-landing

January 9, 2020 - FRB/US historical database and FRB/US EViews databases - January 9, 2020 update - The main FRB/US model package is a self-contained set of equations, data, programs and documentation that enables various types of simulations and provides information about the model's structure. www.federalreserve.gov/econres/us-models-package.htm

January 9, 2020 - Minutes of the Board's discount rate meetings from November 4 and December 11, 2019.  www.federalreserve.gov/newsevents/pressreleases/monetary20200109a.htm
___________________________

January 9, 2020 - Statistical Release - Large Commercial Banks - The Federal Reserve Board compiles quarterly data on domestically chartered insured commercial banks that have consolidated assets of $300 million or more and releases the data about twelve weeks after the end of each quarter. www.federalreserve.gov/releases/lbr/

January 9, 2020 - Speech by Vice Chair Clarida on the U.S. economic outlook and monetary policy At the C. Peter McColough Series on International Economics, Council on Foreign Relations, New York, New York.  www.federalreserve.gov/newsevents/speech/clarida20200109a.htm

January 9, 2020 - Federal Reserve Board issues enforcement action with United Bank of El Paso del Norte. www.federalreserve.gov/newsevents/pressreleases/enforcement20200109a.htm

January 8, 2020 - Civil Money Penalties : Notice Adjusting Maximum Civil Money Penalties for 2020 - On December 30, 2019, the Office of the Comptroller of the Currency published in the Federal Register the attached notice to adjust the maximum amount of each civil money penalty within its jurisdiction pursuant to the Federal Civil Penalties Inflation Adjustment Act of 1990, as amended by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015. www.occ.gov/news-issuances/bulletins/2020/bulletin-2020-2.html

January 8, 2020 - Employment Contracts, Mutual-to-Stock Conversions, and Technical Amendments : Notice of Proposed Rulemaking - On January 8, 2020, the Office of the Comptroller of the Currency issued a proposed rule to address recommendations from the Economic Growth and Regulatory Paperwork Reduction Act report issued in March 2017. www.occ.gov/news-issuances/bulletins/2020/bulletin-2020-1.html

January 8, 2020 - Raising the Inflation Target: Lessons from Japan - Equilibrium real interest rates across the world, including in the United States, have declined over the past few decades and are expected to stay at low levels going forward. All else equal, lower equilibrium real interest rates imply that the policy rate will be constrained by the effective lower bound more frequently. www.federalreserve.gov/econres/notes/feds-notes/raising-the-inflation-target-lessons-from-japan-20200108.htm

January 8, 2020 - Statistical Release - Consumer Credit - G.19 - In November, consumer credit increased at a seasonally adjusted annual rate of 3-1/2 percent. Revolving credit decreased at an annual rate of 2-3/4 percent, while nonrevolving credit increased at an annual rate of 5-3/4 percent. www.federalreserve.gov/releases/g19/current/default.htm

January 8, 2020 - Why Has Wage Growth Been Subdued in the Advanced Foreign Economies? - Stephen Lin, Kaede Johnson, and Tyler Powell - In recent years, nominal wage growth has remained relatively subdued in a number of advanced foreign economies, even as labor markets have tightened substantially. www.federalreserve.gov/econres/notes/feds-notes/why-has-wage-growth-been-subdued-in-the-advanced-foreign-economies-20200708.htm

January 8, 2020 - Monetary Policy Space in a Recession: Some Simple Interest Rate Arithmetic - Nominal interest rates are low by historical standards. In October 2019, nominal interest rates from the overnight to a 10-year maturity averaged between 1.5 and 2 percent. www.federalreserve.gov/econres/notes/feds-notes/monetary-policy-space-in-a-recession-20200108.htm

January 8, 2020 - Short-term Planning, Monetary Policy, and Macroeconomic Persistence - Christopher Gust, Edward Herbst, and David L�pez-Salido - This paper uses aggregate data to estimate and evaluate a behavioral New Keynesian model in which households and firms plan over a finite horizon. www.federalreserve.gov/econres/feds/files/2020003pap.pdf

January 8, 2020 - Speech by Governor Brainard on strengthening the Community Reinvestment Act by staying true to its core purpose At the Urban Institute, Washington, D.C. www.federalreserve.gov/newsevents/speech/brainard20200108a.htm

January 7, 2020 - NCUA�s 2020 Supervisory Priorities Include BSA Compliance, Consumer Protection, Cybersecurity - The National Credit Union Administration today issued its annual letter to credit unions listing its 2020 supervisory priorities as well as updates on regulations and the agency�s modernization programs. www.ncua.gov/newsroom/press-release/2020/ncuas-2020-supervisory-priorities-include-bsa-compliance-consumer-protection-cybersecurity

January 6, 2020 - Brian James Selected to be Deputy Comptroller for the Central District - In this role, Mr. James will oversee 320 community banks and federal savings associations and manage more than 380 examiners and other professional personnel who ensure the financial institutions they supervise operate in a safe, sound, and fair manner. www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-3.html

January 3, 2020 - 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 October 2019. www.fdic.gov/news/news/press/2020/pr20001.html

January 3, 2020 - Monetary Policy and Birth Rates: The Effect of Mortgage Rate Pass-Through on Fertility - Fergus Cumming and Lisa Dettling - Abstract: This paper examines whether monetary policy pass-through to mortgage interest rates affects household fertility decisions. www.federalreserve.gov/econres/feds/files/2020002pap.pdf

January 3, 2020 - FOIA - Chair Powell's calendar, November 2019. www.federalreserve.gov/foia/chairman-powell-calendar.htm

January 3, 2020 - Minutes of the Federal Open Market Committee, December 10-11, 2019 - The Federal Reserve Board and the Federal Open Market Committee on Friday released the attached minutes of the Committee meeting held on December 10-11, 2019.  www.federalreserve.gov/newsevents/pressreleases/monetary20200103a.htm ______________________

January 2, 2020 - OCC Releases 2020 Schedule of Workshops for Directors and Senior Management of National Community Banks and Federal Savings Associations - The OCC examiner-led workshops provide practical training and guidance to directors of national community banks and federal savings associations to support the safe and sound operation of community-based financial institutions. www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-1.html

January 2, 2020 - OCC Releases CRA Evaluations for 24 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 December 1, 2019 through December 31, 2019. www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-2.html