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June 30, 2017 - Midwest Economy Index Points to Slower Growth in May - The
Midwest Economy Index decreased to +0.51 in May from +0.72 in April.
www.chicagofed.org/~/media/publications/mei/2017/mei-may2017-pdf.pdf
June 30, 2017 - NCUA Issues Prohibition Notices - The National Credit Union
Administration in June issued six notices of prohibition to individuals who have
been convicted of crimes of dishonesty and, as a result, are prohibited from
participating in the affairs of any federally insured financial institution.
www.ncua.gov/newsroom/Pages/news-2017-june-prohibition-orders.aspx
June 30, 2017 - FDIC Makes Public May Enforcement Actions; No Administrative
Hearings Scheduled for July 2017 - The Federal Deposit Insurance Corporation
today released a list of orders of administrative enforcement actions taken
against banks and individuals in May.
www.fdic.gov/news/news/press/2017/pr17049.html
June 30, 2017 - Credit and Liquidity Programs and the Balance Sheet - Recent
balance sheet trends, weekly chart update.
www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm
June 30, 2017 - Statistical Release - Finance Companies - G.20 - Announcements -
The February G.20, released on May 2nd, 2016, was reposted to correct a data
error. On and off-book business equipment leases were revised back to 2014, and
no other data were changed.
www.federalreserve.gov/releases/g20/
June 30, 2017 - The Credit Card Act and Consumer Finance Company Lending -
Gregory Elliehausen and Simona M. Hannon - The Credit Card Accountability and
Disclosure Act of 2009 restricted several risk management practices of credit
card issuers.
www.federalreserve.gov/econres/feds/files/2017072pap.pdf
June 30, 2017 - Racial Gaps in Labor Market Outcomes in the Last Four Decades
and over the Business Cycle - Tomaz Cajner, Tyler Radler, David Ratner, and Ivan
Vidangos - We examine racial disparities in key labor market outcomes for men
and women over the past four decades, with a special emphasis on their evolution
over the business cycle.
www.federalreserve.gov/econres/feds/files/2017071pap.pdf
June 30, 2017 - Federal Reserve Payments Study highlights changes in consumer
and business payment choice - Consumers wrote nearly two-thirds fewer checks per
household in 2015 than in 2000, while total noncash payments per household,
which includes not only checks but also card payments and electronic transfers
via the automated clearinghouse system, expanded almost 95 percent, according to
additional results released today from the 2016 Federal Reserve Payments Study.
www.federalreserve.gov/newsevents/pressreleases/other20170630a.htm
June 29, 2017 - Economy to Cruise Near Speed Limit in 2017 and 2018 Even as Auto
Sales Downshift By William A. Strauss , Thomas Haasl - According to participants
in the Chicago Fed’s annual Automotive Outlook Symposium, the nation’s economic
growth is forecasted to be near its long-term average this year and to
strengthen somewhat in 2018.
www.chicagofed.org/publications/chicago-fed-letter/2017/381
June 29, 2017 - Branch Closings: Revised Comptroller’s Licensing Manual Booklet
- This revised booklet replaces the booklet titled “Branch Closings” issued in
April 2003.
www.occ.treas.gov/news-issuances/bulletins/2017/bulletin-2017-24.html
June 29, 2017 - OCC Appoints Three New Members to Minority Depository
Institutions Advisory Committee.
www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-74.html
June 29, 2017 - St. Louis Fed's Bullard Discusses Future of U.S. Monetary Policy
Path in a Global Context - Federal Reserve Bank of St. Louis President James
Bullard addressed “The Path Forward for U.S. Monetary Policy in a Global
Context” on Thursday during the Official Monetary and Financial Institutions
Forum’s City Lecture.
www.stlouisfed.org/news-releases/2017/06/29/bullard-us-monetary-policy-path
June 29, 2017 - Proposed Revisions to the Consolidated Reports of Condition and
Income - As the next step in an ongoing effort by the federal banking agencies
to reduce data reporting and other burdens for small institutions, the agencies,
as members of the Federal Financial Institutions Examination Council, are
requesting comment on additional burden-reducing revisions and certain other
reporting changes to all three versions of the Call Report.
www.fdic.gov/news/news/financial/2017/fil17025.html
June 29, 2017 - Federal Reserve Board releases annual determination of aggregate
consolidated liabilities of financial companies - The Federal Reserve Board on
Thursday released its annual determination of the aggregate consolidated
liabilities of financial companies as required by section 622 of the Dodd-Frank
Act.
www.federalreserve.gov/newsevents/pressreleases/bcreg20170629a.htm
June 29, 2017 - Payment Systems - Automated Clearinghouse Services - Quarterly
data updates.
www.federalreserve.gov/paymentsystems/fedach_data.htm
June 29, 2017 - Payment Systems - Check Services - Quarterly data updates.
www.federalreserve.gov/paymentsystems/check_data.htm
June 29, 2017 - Recoveries and Trade: Does the Exchange Rate Regime Matter? -
Caitlin Hegarty and Beth Anne Wilson - In the aftermath of the global financial
crisis, attention has focused on what has influenced the pace of recovery across
countries.
www.federalreserve.gov/econres/notes/ifdp-notes/recoveries-and-trade-does-the-exchange-rate-regime-matter-20170629.htm
June 29, 2017 - Was There a Great Moderation for Inflation Volatility? - Edward
Hulseman1 and Alan Detmeister - Most accounts of the "Great Moderation"--a
decline in macroeconomic volatility in the decades prior to the Great
Recession--focus on employment growth and GDP growth.
www.federalreserve.gov/econres/notes/feds-notes/was-there-a-great-moderation-for-inflation-volatility-20170629.htm
June 29, 2017 - Federal Reserve Board releases annual determination of aggregate
consolidated liabilities of financial companies - The Federal Reserve Board on
Thursday released its annual determination of the aggregate consolidated
liabilities of financial companies as required by section 622 of the Dodd-Frank
Act.
www.federalreserve.gov/newsevents/pressreleases/bcreg20170629a.htm
_________________________
June 28, 2017 - Economy to Cruise Near Speed Limit in 2017 and 2018 Even as Auto
Sales Downshift By William A. Strauss , Thomas Haasl - According to participants
in the Chicago Fed’s annual Automotive Outlook Symposium, the nation’s economic
growth is forecasted to be near its long-term average this year and to
strengthen somewhat in 2018.
www.chicagofed.org/publications/chicago-fed-letter/2017/381
June 28, 2017 - Constructing a Dictionary for Financial Stability - Ricardo
Correa, Keshav Garud, Juan-Miguel Londono-Yarce, and Nathan Mislang - In a
recent paper analyzing the sentiment of central bank communications (Correa,
Garud, Londono, and Mislang, 2017), we constructed lists of words conveying
positive and negative sentiment--a dictionary--that is calibrated to the
language of financial stability reports.
www.federalreserve.gov/econres/notes/ifdp-notes/constructing-a-dictionary-for-financial-stability-20170623.htm
June 28, 2017 - Nonlinearities in the Phillips Curve for the United States:
Evidence Using Metropolitan Data - Nathan R. Babb and Alan K. Detmeister - With
the unemployment rate in the United States currently below estimates of its
natural rate we examine if the relationship between inflation and unemployment
is nonlinear.
www.federalreserve.gov/econres/feds/files/2017070pap.pdf
June 28, 2017 - Investment Commonality across Insurance Companies: Fire Sale
Risk and Corporate Yield Spreads - Vikram Nanda, Wei Wu, and Xing Zhou -
Insurance companies often follow highly correlated investment strategies
www.federalreserve.gov/econres/feds/2017.htm#2017069
June 28, 2017 - Primary Dealers' Behavior during the 2007-08 Crisis: Part II,
Intermediation and Deleveraging - Rajkamal Iyer and Marco Macchiavelli - In this
second of two notes we study how dealers deleverage following the 2007-2008
funding squeeze.
www.federalreserve.gov/econres/notes/feds-notes/primary-dealers-behavior-during-the-2007-08-crisis-part-II-intermediation-and-deleveraging-20170628.htm
June 28, 2017 - Legal Interpretations - Bank Holding Companies/Savings and Loan
Holding Companies/Change in Control - 2017 Letters.
www.federalreserve.gov/supervisionreg/legalinterpretations/bhc_changeincontrol2017.htm
June 27, 2017 - NCUA - McWatters Named NCUA Chairman - President Donald J. Trump
has designated Acting National Credit Union Administration Board Chairman J.
Mark McWatters as the tenth Chairman of the NCUA Board, effective June 23.
www.ncua.gov/newsroom/Pages/news-2017-june-mcwatters-named-ncua-chairman.aspx
June 27, 2017 - Acting Comptroller of the Currency Addresses the Agency’s
Minority Depository Institutions Advisory Committee - Acting Comptroller of the
Currency Keith A. Noreika discussed the importance of minority depository
institutions during remarks at today’s meeting of the Office of the Comptroller
of the Currency’s Minority Depository Institutions Advisory Committee.
www.occ.gov/news-issuances/speeches/2017/pub-speech-2017-73.pdf
June 27, 2017 - SF Fed’s Williams: Long Term Economic Landscape to be Defined by
“Sea Change” in Demographics, Productivity - Today, John C. Williams, President
and CEO of the Federal Reserve Bank of San Francisco, asserted that a global
slowdown in productivity, along with demographic factors like slowing population
and labor growth, are behind a global growth slump that is creating a new set of
economic challenges for countries worldwide.
www.frbsf.org/our-district/press/news-releases/2017/sf-fed-williams-long-term-economic-landscape-defined-by-sea-change-demographics-productivity/
June 27, 2017 - Proposed Revisions to the Consolidated Reports of Condition and
Income - The Federal Deposit Insurance Corporation, the Federal Reserve Board,
and the Office of the Comptroller of the Currency are requesting comment on
additional burden-reducing revisions and certain other reporting changes to all
three versions of the Call Report.
www.fdic.gov/news/news/financial/2017/fil17024.pdf
June 27, 2017 - How Large were the Effects of Emergency and Extended Benefits on
Unemployment during the Great Recession and its Aftermath? - Andrew Figura and
David Ratner - This paper presents estimates of the effect of unemployment
benefit extensions during the Great Recession on unemployment and labor force
participation.
www.federalreserve.gov/econres/feds/files/2017068pap.pdf
June 27, 2017 - Consumer Mistakes and Advertising: The Case of Mortgage
Refinancing - Serafin Grundl and You Suk Kim - Does advertising help consumers
to find the products they need or push them to buy products they don't need?
www.federalreserve.gov/econres/feds/files/2017067pap.pdf
June 27, 2017 - Speech by Vice Chairman Fischer on an assessment of financial
stability in the United States.
www.federalreserve.gov/newsevents/speech/fischer20170627a.htm
June 27, 2017 - Ricardo A. Aguilera appointed new director of Division of
Financial Management and chief financial officer - The Federal Reserve Board on
Tuesday announced the appointment of Ricardo A. Aguilera as director of the
Division of Financial Management and chief financial officer, effective June 26.
www.federalreserve.gov/newsevents/pressreleases/other20170627a.htm
June 27, 2017 - Federal Reserve Board announces $3 million fine against Bank of
New York Mellon Corporation for unsafe and unsound practices
www.federalreserve.gov/newsevents/pressreleases/enforcement20170627a.htm
June 26, 2017 - Index points to slower economic growth in May - Led by declines
in production-related indicators, the Chicago Fed National Activity Index moved
down to –0.26 in May from +0.57 in April.
www.chicagofed.org/~/media/publications/cfnai/2017/cfnai-june2017-pdf.pdf
June 26, 2017 - LOMTO Federal Credit Union Conserved - Member Deposits Insured
up to $250,000, Member Services Uninterrupted – The National Credit Union
Administration today placed LOMTO Federal Credit Union in Woodside, New York,
into conservatorship.
www.ncua.gov/newsroom/Pages/news-2017-june-lomto-federal-credit-union-conserved.aspx
June 26, 2017 - Tracy Basinger Appointed Executive Vice President and Director
of Financial Institution Supervision and Credit Division at the Federal Reserve
Bank of San Francisco - The Board of Directors of the Federal Reserve Bank of
San Francisco has appointed Tracy Basinger executive vice president and director
of Financial Institution Supervision and Credit Division, the Bank announced
today.
www.frbsf.org/our-district/press/news-releases/2017/tracy-basinger-appointed-executive-vice-president-and-director-financial-institution-supervision-and-credit-division/
June 26, 2017 - Estimating the Competitive Effects of Common Ownership - Jacob
Gramlich and Serafin Grundl - If managers maximize the payoffs of their
shareholders rather than firm profits, then it may be anticompetitive for a
shareholder to own competing firms.
www.federalreserve.gov/econres/feds/files/2017029r1pap.pdf
June 26, 2017 - Speech by Governor Powell at the Salzburg Global Seminar.
www.federalreserve.gov/newsevents/speech/powell20170626a.htm
June 25, 2017 - SF Fed’s Williams: “Boring is the New Exciting” - Today, John C.
Williams, President and CEO of the Federal Reserve Bank of San Francisco,
affirmed that the Fed’s process for normalizing monetary policy will continue to
be widely telegraphed, gradual and transparent—both in terms of the current
process of normalizing conventional monetary policy, and in the upcoming process
of gradually drawing down the Fed’s balance sheet.
www.frbsf.org/our-district/press/news-releases/2017/sf-fed-williams-boring-is-new-exciting/
June 23, 2017 - Can the CFSBC Activity Index Nowcast U.S. Real GDP Growth? By
Thomas Walstrum - This article examines how well the Chicago Fed Survey of
Business Conditions Activity Index does at predicting U.S. real gross domestic
product growth for the current quarter.
www.chicagofed.org/publications/chicago-fed-letter/2017/378
June 23, 2017 - Citizens Community Credit Union Conserved - Member Deposits
Remain Protected to $250,000; Member Services Uninterrupted – The National
Credit Union Administration today placed Citizens Community Credit Union,
located in Devils Lake, North Dakota, into conservatorship.
www.ncua.gov/newsroom/Pages/news-2017-june-citizens-community-credit-union-conserved.aspx
June 23, 2017 - OCC Hosts Kentucky Workshop for Board Directors and Bank
Management - The Office of the Comptroller of the Currency will host a workshop
in Lexington, Ky., at the Griffin Gate Marriott, August 7-9, for directors,
senior management team members and other key executives of national community
banks and federal savings associations supervised by the OCC.
www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-72.html
June 23, 2017 - St. Louis Fed's Bullard Discusses the Path Forward for U.S.
Monetary Policy - Federal Reserve Bank of St. Louis President James Bullard
addressed “The Path Forward for U.S. Monetary Policy” during his presentation
Friday at the annual conference of the Illinois Bankers Association in
Nashville, Tenn.
www.stlouisfed.org/news-releases/2017/06/23/bullard-discusses-path-forward
June 23, 2017 - Legal Interpretations - Bank Holding Company Act, June 9, 12,
and 15, 2017.
www.federalreserve.gov/supervisionreg/legalinterpretations/bhc_changeincontrol2017.htm
June 23, 2017 - Credit and Liquidity Programs and the Balance Sheet - Recent
balance sheet trends, weekly chart update.
www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm
June 23, 2017 - Speech by Governor Powell on central clearing and liquidity.
www.federalreserve.gov/newsevents/speech/powell20170623a.htm
June 22, 2017 - Acting Comptroller Discusses Opportunities to Promote Economic
Growth, Reduce Regulatory Burden - Acting Comptroller of the Currency Keith A.
Noreika today discussed ways to promote economic growth and reduce regulatory
burden, while ensuring proper oversight of the federal banking system.
www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-71.html
________________________
June 21, 2017 - NCUA - May 2017 NCUA Board Meeting Video Available - The video
recording of the May 25, 2017, open meeting of the National Credit Union
Administration Board is now available on the agency’s website.
www.ncua.gov/newsroom/Pages/news-2017-june-may-board-meeting.aspx
June 21, 2017 - Testimony by Governor Jerome H. Powell Before the Committee on
Banking, Housing, and Urban Affairs, U.S. Senate, Washington, D.C. -
Relationship Between Regulation and Economic Growth.
www.federalreserve.gov/newsevents/testimony/powell20170622a.htm
June 21, 2017 - Structure and Share Data for U.S. Banking Offices of Foreign
Entities - There are two reports showing the same structure and asset
information for each U.S. office, but in different orders. Offices located in
Puerto Rico, American Samoa, Guam, the Virgin Islands and other U.S.-affiliated
insular areas are excluded. www.federalreserve.gov/releases/iba/default.htm
June 21, 2017 - 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 a.m. on June 21, 2017. Matter considered: Update on Comprehensive Capital
Analysis and Review and Dodd-Frank Act Stress Tests 2017.
www.federalreserve.gov/aboutthefed/boardmeetings/20170621closed.htm
June 21, 2017 - Agencies release list of distressed or underserved
nonmetropolitan middle-income geographies - The Board of Governors of the
Federal Reserve System, the Federal Deposit Insurance Corporation, and the
Office of the Comptroller of the Currency today announced the availability of
the 2017 list of distressed or underserved nonmetropolitan middle-income
geographies, where revitalization or stabilization activities are eligible to
receive Community Reinvestment Act consideration under the community development
definition.
Press Release:
www.federalreserve.gov/newsevents/pressreleases/bcreg20170621b.htm
Press Release:
www.fdic.gov/news/news/press/2017/pr17048.html
Press Release:
www.occ.gov/news-issuances/news-releases/2017/nr-ia-2017-70.html
June 21, 2017 - Agencies issue host state loan-to-deposit ratios - The Board of
Governors of the Federal Reserve System, the Federal Deposit Insurance
Corporation, and the Office of the Comptroller of the Currency today issued the
host state loan-to-deposit ratios that they will use to determine compliance
with section 109 of the Riegle-Neal Interstate Banking and Branching Efficiency
Act of 1994.
Press Release:
www.federalreserve.gov/newsevents/pressreleases/bcreg20170621a.htm
Press Release:
www.fdic.gov/news/news/press/2017/pr17047.html
Press Release:
www.occ.gov/news-issuances/news-releases/2017/nr-ia-2017-69.html
June 20, 2017 - Measuring International Uncertainty: the Case of Korea - Minchul
Shin, Boyuan Zhang, Molin Zhong, and Dong Jin Lee - We leverage a data rich
environment to construct and study a measure of macroeconomic uncertainty for
the Korean economy.
www.federalreserve.gov/econres/feds/files/2017066pap.pdf
June 20, 2017 - Speech by Vice Chairman Fischer on housing and financial
stability - Vice Chairman Stanley Fischer.
At the DNB-Riksbank Macroprudential Conference Series, Amsterdam, Netherlands
www.federalreserve.gov/newsevents/speech/fischer20170620a.htm
June 20, 2017 - Federal Reserve Board announces termination of enforcement
action with JP Morgan Chase & Co.
www.federalreserve.gov/newsevents/pressreleases/enforcement20170620a.htm
June 20, 2017 - Household Debt Service and Financial Obligations Ratios -
Household debt service payments and financial obligations as a percentage of
disposable personal income; seasonally adjusted.
www.federalreserve.gov/releases/housedebt/default.htm
June 19, 2017 - Monetary Policy Challenges in a New Inflation Environment - A
speech delivered on June 19, 2017, before the Money Marketeers of New York
University in New York City.
www.chicagofed.org/publications/speeches/2017/06-19-17-monetary-policy-challenges-in-a-new-inflation-environment-money-marketeers
June 19, 2017 - Articles of Association, Charter, and Bylaw Amendments: New
Comptroller’s Licensing Manual Booklet - The Office of the Comptroller of the
Currency issued today the “Articles of Association, Charter, and Bylaw
Amendments” booklet of the Comptroller’s Licensing Manual.
www.occ.treas.gov/news-issuances/bulletins/2017/bulletin-2017-23.html
June 19, 2017 - OCC to Hold Innovation Office Hours in New York - The Office of
the Comptroller of the Currency announced its Office of Innovation will host
Office Hours for national banks, federal savings associations, and financial
technology companies, July 24-26, at the OCC’s district office in New York City.
www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-68.html
June 19, 2017 - St. Louis Fed Announces 2017-2018 Student Board of Directors -
The Federal Reserve Board of St. Louis proudly announces the 2017-2018 members
of its student board of directors.
www.stlouisfed.org/news-releases/2017/06/19/st-louis-fed-announces-2017-2018-student-board-of-directors
June 19, 2017 - Regulatory Relief-Guidance to Help Financial Institutions and to
Facilitate Recovery in Areas of Arkansas Affected by Severe Storms, Tornadoes,
Straight-line Winds, and Flooding - The FDIC has announced a series of steps
intended to provide regulatory relief to financial institutions and to
facilitate recovery in areas of Arkansas affected by severe weather.
www.fdic.gov/news/news/financial/2017/fil17023.html
June 19, 2017 - China's Current Account: External Rebalancing or Capital Flight?
- Anna Wong - Abstract: This paper examines an anomaly in China's current
account: its large and rapidly growing travel expenditure.
www.federalreserve.gov/econres/ifdp/2017.htm#20171208
June 16, 2017 - OCC Enforcement Actions and Terminations for June 2017 - 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/2017/nr-occ-2017-67.html
June 16, 2017 - Membership Changes for Federal Reserve Bank of San Francisco’s
Economic Advisory Council - The Federal Reserve Bank of San Francisco announced
that Robert C. Donegan, president of Ivar’s Restaurants, was appointed to the
Federal Reserve Bank of San Francisco’s Economic Advisory Council.
www.frbsf.org/our-district/press/news-releases/2017/membership-changes-economic-advisory-council/
June 16, 2017 - Fed Chair Yellen Will Open 2017 Fed/CSBS Community Banking
Research Conference - Federal Reserve Chair Janet Yellen will give opening
remarks at the fifth annual Community Banking in the 21st Century research and
policy conference that will be held Oct. 4-5 at the Federal Reserve Bank of St.
Louis.
www.stlouisfed.org/news-releases/2017/06/16/fed-chair-yellen-will-open-2017-community-banking-research-conference
June 16, 2017 - St. Louis Fed and St. Louis Regional Unbanked Task Force to Host
Author Lisa Servon on June 20 - The St. Louis Fed’s Center for Household
Financial Stability and the St. Louis Regional Unbanked Task Force will host a
panel discussion on Tuesday, June 20, featuring Lisa Servon, author of the new
book, “The Unbanking of America: How the New Middle Class Survives.”
www.stlouisfed.org/news-releases/2017/06/16/st-louis-fed-to-host-author-lisa-servon-on-june-20
June 16, 2017 - FDIC Appoints New Ombudsman - The Federal Deposit Insurance
Corporation has appointed M. Anthony Lowe to the post of FDIC Ombudsman and
Director of the Office of the Ombudsman.
https://www.fdic.gov/news/news/press/2017/pr17046.html
June 16, 2017 - Principal Payments on the Federal Reserve's Securities Holdings
- Brian Bonis, John Kandrac, and Luke Pardue1 - As noted in the Policy
Normalization Principles and Plans issued in September 2014, when the Federal
Open Market Committee judges that it is appropriate to begin the process of
normalizing the size of the balance sheet, it intends to gradually reduce the
Federal Reserve's holdings of Treasury securities and agency debt and agency
mortgage-backed securities.
www.federalreserve.gov/econres/notes/feds-notes/principal-payments-on-the-federal-reserves-securities-holdings-20170616.htm
June 16, 2017 - Equity Issuance and Retirement by Nonfinancial Corporations -
William R. Kuchinski, Richard E. Ogden, Damian R. Thomas, and Missaka
Warusawitharana - The Financial Accounts of the United States reports quarterly
net equity issuance of nonfinancial corporations.
www.federalreserve.gov/econres/notes/feds-notes/equity-issuance-and-retirement-by-nonfinancial-corporations-20170616.htm
June 16, 2017 - Credit and Liquidity Programs and the Balance Sheet.
www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm
June 16, 2017 - A Price-Differentiation Model of the Interbank Market and Its
Application to a Financial Crisis - Kyungmin Kim - Rate curves for overnight
loans between bank pairs, as functions of loan values, can be used to infer
valuation of reserves by banks.
www.federalreserve.gov/econres/feds/files/2017065pap.pdf
June 16, 2017 - Federal Advisory Council - The Federal Advisory Council, which
is composed of twelve representatives of the banking industry, consults with and
advises the Board on all matters within the Board's jurisdiction.
www.federalreserve.gov/aboutthefed/fac.htm
June 16, 2017 - Gordon Werkema to retire as Federal Reserve’s payments strategy
director - Federal Reserve System Payments Strategy Director Gordon Werkema
announced today that he will retire in September.
www.federalreserve.gov/newsevents/pressreleases/other20170616a.htm
June 15, 2017 - OCC Hosts Operational Risk Workshop in West Virginia - The
Office of the Comptroller of the Currency will host a workshop in Charleston,
W.V., at the Holiday Inn & Suites Charleston West, July 25, for directors of
national community banks and federal savings associations supervised by the OCC.
www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-66.html
June 15, 2017 - Ray Dillon Rejoins St. Louis Fed’s Industry Councils as a Real
Estate Member - Ray Dillon, retired president and CEO of Deltic Timber Corp.,
has rejoined the St. Louis Fed’s Industry Councils. Dillon previously served as
a member of the Agribusiness Industry Council for three years, starting in
2009.
www.stlouisfed.org/news-releases/2017/06/15/ray-dillon-joins-st-louis-fed-real-estate-industry-council-member
June 15, 2017 - J.T. Ferstl, JD, MAI, Joins St. Louis Fed’s Real Estate Industry
Council - James T. (J.T.) Ferstl of Little Rock, Ark., has been named to the
Real Estate Industry Council of the Federal Reserve Bank of St. Louis.
www.stlouisfed.org/news-releases/2017/06/15/jt-ferstl-joins-st-louis-fed-real-estate-industry-council
June 15, 2017 - Industrial Production and Capacity Utilization - G.17 -
Industrial production was unchanged in May following a large increase in April
and smaller increases in February and March. Manufacturing output declined
0.4 percent in May; the index is little changed, on net, since February.
www.federalreserve.gov/releases/g17/Current/default.htm
June 15, 2017 - Federal Reserve Board approves action by the Boards of Directors
of the Federal Reserve Banks of New York, St. Louis, and Minneapolis - The
Federal Reserve Board has approved actions on Thursday by the Boards of
Directors of the Federal Reserve Banks of New York, St. Louis, and Minneapolis,
increasing the discount rate at the Banks from 1-1/2 percent to 1-3/4 percent,
effective immediately.
www.federalreserve.gov/newsevents/pressreleases/monetary20170615a.htm
June 15, 2017 - Federal Reserve Board announces termination of enforcement
action with Bank of America Corporation.
www.federalreserve.gov/newsevents/pressreleases/enforcement20170615a.htm
________________________
June 15, 2017 - Statistical Release - Industrial Production and Capacity
Utilization - G.17 - Industrial production was unchanged in May following a
large increase in April and smaller increases in February and March.
www.federalreserve.gov/releases/g17/Current/default.htm
June 14, 2017 - NCUA - McWatters Discusses Goals for Change - Credit unions can
expect more regulatory relief and streamlined operations from the National
Credit Union Administration in the future, Acting Board Chairman J. Mark
McWatters said today.
www.ncua.gov/newsroom/Pages/news-2017-june-mcwatters-discusses-goals-change.aspx
June 14, 2017 - NCUA - Board Re-Schedules June Meetings - The National Credit
Union Administration Board has re-scheduled its June open and closed meetings.
www.ncua.gov/newsroom/Pages/news-2017-june-board-reschedules-meetings.aspx
June 14, 2017 - 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
p.m. on June 13, 2017, and continued on Wednesday, June 14, 2017, at 9:00 a.m.
Matter considered: Discussion of Monetary Policy Issues.
www.federalreserve.gov/aboutthefed/boardmeetings/20170613closed.htm
June 14, 2017 - FOMC issues addendum to the Policy Normalization Principles and
Plans - Addendum to the Policy Normalization Principles and Plans - All
participants agreed to augment the Committee's Policy Normalization Principles
and Plans by providing the following additional details regarding the approach
the FOMC intends to use to reduce the Federal Reserve's holdings of Treasury and
agency securities once normalization of the level of the federal funds rate is
well under way.
www.federalreserve.gov/newsevents/pressreleases/monetary20170614c.htm
June 14, 2017 - Federal Reserve Board and Federal Open Market Committee release
economic projections from the June 13-14 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 June 13-14 meeting.
www.federalreserve.gov/newsevents/pressreleases/monetary20170614b.htm
June 14, 2017 - Federal Reserve issues FOMC statement - Information received
since the Federal Open Market Committee met in May indicates that the labor
market has continued to strengthen and that economic activity has been rising
moderately so far this year.
www.federalreserve.gov/newsevents/pressreleases/monetary20170614a.htm
June 13, 2017 - Federal Reserve Board announces termination of enforcement
action with Bank of the Orient.
www.federalreserve.gov/newsevents/pressreleases/enforcement20170613a.htm
June 12, 2017 - FDIC Consumer News Issues Warning About 10 Scams Targeting Bank
Customers - The FDIC often hears from bank customers who believe they may be the
victims of financial fraud or thefts. The Summer 2017 FDIC Consumer News alerts
the public to common scams and provides basic tips for protecting personal
information and money.
www.fdic.gov/news/news/press/2017/pr17045.html
June 12, 2017 - State Credit Union Data Show Growth Trends Continuing in First
Quarter of 2017 - Federally insured credit unions across the country saw
continued improvement in nearly every category during the first quarter of 2017,
according to state-level data compiled by the National Credit Union
Administration and released today.
www.ncua.gov/newsroom/Pages/news-2017-june-state-credit-union-data-growth-trends-q1-2017.aspx
June 12, 2017 - NCUA Charters Community HOPE Federal Credit Union - New Credit
Union Will Provide Affordable Financial Services to a Low-Income Community in
Lincoln, Nebraska - The National Credit Union Administration has granted a
federal charter and Share Insurance Fund coverage to Community HOPE Federal
Credit Union in Lincoln, Nebraska.
www.ncua.gov/newsroom/Pages/news-2017-june-ncua-charters-community-hope-federal-credit-union.aspx
June 9, 2017 - Description: Shortening the Settlement Cycle - The Office of the
Comptroller of the Currency is issuing this bulletin to highlight actions that
national banks and federal savings associations should take to prepare for the
change in the regular securities settlement cycle for most U.S. securities
transactions. The change becomes effective on September 5, 2017.
www.occ.treas.gov/news-issuances/bulletins/2017/bulletin-2017-22.html
June 9, 2017 - Female Labor Supply and Why Women Need to Be Included in Economic
Models By Mariacristina De Nardi , Sharada Dharmasankar - Women contribute a
large fraction of aggregate labor hours, earnings, and labor force
participation.
www.chicagofed.org/publications/chicago-fed-letter/2017/380
June 9, 2017 - Changes in the Risk-Management Environment for Monetary Policy By
Jonas D. M. Fisher , François Gourio , Spencer Krane - In response to the
massive challenges presented by the global financial crisis, in late 2007 the
Federal Open Market Committee began a series of large reductions in its
traditional policy tool, the overnight interest rate in the federal funds
market.
www.chicagofed.org/publications/chicago-fed-letter/2017/377
June 9, 2017 - Regulatory Reform - Communications with the public through June
9, 2017 - The Federal Reserve Board will be involved in many rulemakings to
implement the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.
www.federalreserve.gov/regreform/communications-with-public.htm
June 9, 2017 - 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 1:00 PM on June 13, 2017. Matter to be
considered: Discussion of Monetary Policy Issues.
www.federalreserve.gov/aboutthefed/boardmeetings/20170613closed.htm
June 9, 2017 - Credit and Liquidity Programs and the Balance Sheet - Recent
balance sheet trends, weekly chart update.
www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm
June 8, 2017 - Report to the Congress - Annual Report 2016 - Report on
operations of the Board during the year. Provides minutes of Federal Open Market
Committee meetings, financial statements of the Board and combined financial
statements of the Reserve Banks, financial statements for Federal Reserve priced
services, information on other services provided by the Reserve Banks,
directories of Federal Reserve officials and advisory committees, statistical
tables, and maps showing the System's District and Branch boundaries.
www.federalreserve.gov/publications/annual-report.htm
June 8, 2017 - 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/
____________________
June 8, 2017 - 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/
June 7, 2017 - OCC Hosts Risk Governance and Compliance Workshops in Ohio - The
Office of the Comptroller of the Currency will host two workshops in Cleveland
at the Crowne Plaza Cleveland South, July 18-19, for directors of national
community banks and federal savings associations supervised by the OCC.
www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-65.html
June 7, 2017 - 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, June 27, 2017, beginning at 8:30 a.m., Eastern Daylight Time.
www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-64.html
June 7, 2017 - Summary of Deposits Survey- Filing for June 30, 2017 - The
Summary of Deposits is the annual survey of branch office deposits as of June 30
for all FDIC-insured institutions, including insured U.S. branches of foreign
banks.
www.fdic.gov/news/news/financial/2017/fil17021.pdf
June 7, 2017 - Adoption of Supervisory Guidance on Model Risk Management -The
FDIC is adopting the Supervisory Guidance on Model Risk Management previously
issued by the Board of Governors of the Federal Reserve System and the Office of
the Comptroller of the Currency, with technical conforming changes, thereby
making the guidance applicable to certain FDIC-supervised institutions.
www.fdic.gov/news/news/financial/2017/fil17022.pdf
June 7, 2017 - Statistical Release - Consumer Credit - G.19 - In April, consumer
credit increased at a seasonally adjusted annual rate of 2-1/2 percent.
Revolving credit increased at an annual rate of 1-3/4 percent, while
nonrevolving credit increased at an annual rate of 3 percent.
www.federalreserve.gov/releases/g19/current/default.htm
June 7, 2017 - Federal Reserve Board announces approval of application by TIAA
Board of Overseers, Teachers Insurance and Annuity Association of America, and
TCT Holdings, Inc.
www.federalreserve.gov/newsevents/pressreleases/orders20170607b.htm
June 7, 2017 - Federal Reserve Board approves extended transition period for
Deutsche Bank AG, SVB Financial Group, and UBS Group AG to conform investments
in certain "illiquid funds" to requirements of Volcker rule.
www.federalreserve.gov/newsevents/pressreleases/bcreg20170607a.htm
June 7, 2017 - Federal Reserve Board announces approval of applications by
Canadian Imperial Bank of Commerce and CIBC Holdco Inc.
www.federalreserve.gov/newsevents/pressreleases/orders20170607a.htm
June 7, 2017 - Federal Reserve Board permanently bars two former employees of
Regions Bank from the banking industry - The Federal Reserve Board on Wednesday
permanently barred Richard Henderson and Philip Cooper, former employees of
Regions Bank, from the banking industry after both pled guilty to conspiracy to
commit money laundering, and conspiracy to commit bank bribery and wire fraud
affecting a financial institution.
www.federalreserve.gov/newsevents/pressreleases/enforcement20170607a.htm
June 6, 2017 - Regulatory Relief - Guidance to Help Financial Institutions and
to Facilitate Recovery in Areas of Missouri Affected by Severe Storms,
Tornadoes, Straight-line Winds, and Flooding - The FDIC has announced a series
of steps intended to provide regulatory relief to financial institutions and to
facilitate recovery in areas of Missouri affected by severe weather.
www.fdic.gov/news/news/financial/2017/fil17020.html
June 5, 2017 - Solid and Steady Economic Growth Expected in 2017 and 2018,
Chicago Fed Automotive Outlook Symposium Participants Say - The 24th annual
Automotive Outlook Symposium was held in Detroit on Thursday and Friday, June
1-2, and drew more than 60 participants from the manufacturing and banking
industries, as well as consulting and service firms and academia.
www.chicagofed.org/~/media/others/events/2017/automotive-outlook-symposium/aos-press-release-pdf.pdf
June 5, 2017 - NCUA Releases Q1 2017 Credit Union System Performance Data - NCUA
makes detailed credit union system performance data available on its Credit
Union and Call Report Data webpage, including Call Report quarterly summaries
and financial performance reports.
www.ncua.gov/newsroom/Pages/news-2017-june-ncua-releases-q1-credit-union-system-performance-data.aspx
June 5, 2017 - 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 March
2017.
www.fdic.gov/news/news/press/2017/pr17044.html
June 5, 2017 - 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 AM on
June 5, 2017. Matter 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/20170605closed.htm
June 2, 2017 - Chicago’s Fiscal Future: Growth or insolvency? A Conference
Summary - By Rick Mattoon , Sarah Wetmore - The intersection between poor fiscal
conditions facing Chicago and the prospects for business development was the
subject of a conference cosponsored by the Federal Reserve Bank of Chicago and
the Civic Federation on April 19, 2017.
www.chicagofed.org/publications/chicago-fed-letter/2017/379
June 2, 2017 - Macroeconomic implications of oil price fluctuations: a
regime-switching framework for the euro area - Federic Holm-Hadulla and Kirstin
Hubrich - Abstract: We investigate whether the response of the macro-economy to
oil price shocks undergoes episodic changes.
www.federalreserve.gov/econres/feds/2017.htm#2017063
June 2, 2017 - Comparing Cross-Country Estimates of Lorenz Curves Using a
Dirichlet Distribution Across Estimators and Datasets - Andrew C. Chang, Phillip
Li, and Shawn M. Martin - Abstract: Chotikapanich and Griffiths (2002)
introduced the Dirichlet distribution to the estimation of Lorenz curves.
www.federalreserve.gov/econres/feds/files/2017062pap.pdf
June 2, 2017 - Chair Yellen's calendar, April 2017.
www.federalreserve.gov/foia/chairscalendar-042017.htm
June 2, 2017 - Credit and Liquidity Programs and the Balance Sheet - Recent
balance sheet trends, weekly chart update.
www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm
June 2, 2017 - How Have the Fed's Three Rate Hikes Passed Through to Selected
Short-term Interest Rates? - Alyssa Anderson, Jane Ihrig, Mary-Frances
Styczynski, and Gretchen C. Weinbach - Since December 2015, the Federal Open
Market Committee has increased the target range for the federal funds rate by 25
basis points three times.
www.federalreserve.gov/econres/notes/feds-notes/how-have-the-feds-three-rate-hikes-passed-through-to-selected-short-term-interest-rates-20170602.htm
June 2, 2017 - Community Advisory Council - The Community Advisory Council was
formed by the Federal Reserve Board in 2015 to offer diverse perspectives on the
economic circumstances and financial services needs of consumers and
communities, with a particular focus on the concerns of low- and moderate-income
populations.
www.federalreserve.gov/aboutthefed/cac.htm
June 2, 2017 - Federal Reserve Board announces approval of applications by
FirstSun Capital Bancorp - The Federal Reserve Board on Friday announced its
approval of the application under section 3 of the Bank Holding Company Act by
FirstSun Capital Bancorp, formerly known as Sunflower Reincorporation Sub, Inc.,
to acquire Sunflower Financial, Inc., and thereby indirectly acquire Sunflower
Bank, National Association, all of Salina, Kansas.
www.federalreserve.gov/newsevents/pressreleases/orders20170602a.htm
_________________________June 1, 2017 - OCC Releases CRA Evaluations for 18 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 May 1, 2017 through
May 31, 2017.
www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-63.html
June 1, 2017 - Fiscal Policy and Aggregate Demand in the U.S. Before,
During and Following the Great Recession - David Cashin, Jamie Lenney,
Byron Lutz, and William Peterman - We examine the effect of federal and
subnational fiscal policy on aggregate demand in the U.S. by introducing
the fiscal effect measure.
www.federalreserve.gov/econres/feds/files/2017061pap.pdf
June 1, 2017 - Money-Financed Fiscal Programs: A Cautionary Tale -
William B. English, Christopher J. Erceg, and David Lopez-Salido - A
number of prominent economists and policymakers have argued that
money-financed fiscal programs (helicopter drops) could be efficacious
in boosting output and inflation in economies facing persistent economic
weakness, very low inflation, and signifiant fiscal strains.
www.federalreserve.gov/econres/feds/files/2017060pap.pdf
June 1, 2017 - Measuring the Natural Rate of Interest: Alternative
Specifications - Kurt F. Lewis and Francisco Vazquez-Grande - We build
on the work of Laubach and Williams (2003) and subsequent studies by
analyzing the effect on the estimates of the natural rate of interest of
accounting for full parameter uncertainty and alternative specifications
for the underlying components of the natural rate.
www.federalreserve.gov/econres/feds/files/2017059pap.pdf
June 1, 2017 - Macro Risks and the Term Structure of Interest Rates -
Geert Bekaert, Eric Engstrom, and Andrey Ermolov - Abstract: We use
non-Gaussian features in U.S. macroeconomic data to identify aggregate
supply and demand shocks while imposing minimal economic assumptions.
www.federalreserve.gov/econres/feds/files/2017058pap.pdf
June 1, 2017 - 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 June 5, 2017.
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/20170605closed.htm
June 1, 2017 - Foreign Exchange Rates - G.5 - The table below shows the
average rates of exchange in MAY 2017 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
June 1, 2017 - Emerging Market Nonfinancial Corporate Debt: How
Concerned Should We Be? - Daniel Beltran, Keshav Garud, and Aaron
Rosenblum - Nonfinancial corporate debt in emerging market economies has
tripled since the global financial crisis, reaching roughly $25
trillion, or 112 percent of GDP, in mid-2016.
www.federalreserve.gov/econres/notes/ifdp-notes/emerging-market-nonfinancial-corporate-debt-how-concerned-should-we-be-20170601.htm
June 1, 2017 - Speech by Governor Powell on the normalization of
monetary policy Governor Jerome H. Powell At the Economic Club of New
York, New York, New York.
www.federalreserve.gov/newsevents/speech/powell20170601a.htm
June 1, 2017 - Federal Reserve Board announces schedule for results from
Dodd-Frank Act stress tests and Comprehensive Capital Analysis and
Review -Results from the latest supervisory stress tests conducted as
part of the Dodd-Frank Act will be released on Thursday, June 22, and
the results from the Comprehensive Capital Analysis and Review will be
released on Wednesday, June 28, the Federal Reserve Board announced on
Thursday.
www.federalreserve.gov/newsevents/pressreleases/bcreg20170601a.htm
June 1, 2017 - NCUA - June 7 NCUA Twitter Chat Will Cover New Learning
Management Service - Credit unions can share their experiences using the
National Credit Union Administration’s new online Learning Management
Service during an #NCUAChat scheduled for Wednesday, June 7, beginning
at 2 p.m. Eastern.
www.ncua.gov/newsroom/Pages/news-2017-june-7-ncua-twitter-chat-cover-new-learning-management-service.aspx
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