The E-mail Banking News
(Bank Regulatory News)
March 2014

March 31, 2014 - Midwest Economic Growth Slower in February - The Midwest Economy Index was –0.03 in February, down from +0.32 in January. www.chicagofed.org/digital_assets/publications/mei/2014/mei_february2014.pdf 

March 31, 2014 - NCUA - Mayfair Federal Credit Union Closes, Shares Assumed by Freedom Credit Union - The National Credit Union Administration today liquidated Mayfair Federal Credit Union of Philadelphia. Freedom Credit Union of Warminster, Pa., immediately assumed Mayfair’s members and deposits as well as a portion of the loan portfolio and other assets. www.ncua.gov/News/Pages/NW20140331MayfairFCU.aspx

March 31, 2014 - NCUA Workforce Diversity Improves - National Credit Union Administration continues to make progress in increasing the diversity of its workforce and its vendors, and Board Chairman Debbie Matz asserted the agency’s commitment to continue to improve in both areas. www.ncua.gov/News/Pages/NW2014NCUAWorkforceDiversity.aspx

March 31, 2014 - NCUA Issues Prohibition Order - The National Credit Union Administration has issued one order in March prohibiting the following individual from participating in the affairs of any federally insured financial institution: www.ncua.gov/News/Pages/NW20140331ProhibitionOrderTabar.aspx

March 31, 2014 - Comptroller of the Currency Kicks Off Symposium Marking 150 Years of National Banking - Comptroller of the Currency Thomas J. Curry today opened a conference commemorating the 150th anniversary of the Office of the Comptroller of the Currency by pointing to the important role supervision - examiner “boots on the ground”-has played since the agency’s founding. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-47.html

March 31, 2014 - Bank Ownership, Lending, and Local Economic Performance During the 2008-2010 Financial Crisis - Nicholas Coleman and Leo Feler - While the finance literature often equates government banks with political capture and capital misallocation, these banks can help mitigate financial shocks. This paper examines the role of Brazil’s government banks in preventing a recession during the 2008-2010 financial crisis. www.federalreserve.gov/pubs/ifdp/2014/1099/default.htm

March 31, 2014 - Are Long-Term Inflation Expectations Well Anchored in Brazil, Chile and Mexico? - Michiel De Pooter, Patrice Robitaille, Ian Walker, and Michael Zdinak - In this paper, we consider whether long-term inflation expectations have become better anchored in Brazil, Chile, and Mexico.  www.federalreserve.gov/pubs/ifdp/2014/1098/ifdp1098.pdf

March 31, 2014 - Chair Janet L. Yellen - What the Federal Reserve Is Doing to Promote a Stronger Job Market - At the 2014 National Interagency Community Reinvestment Conference, Chicago, Illinois.  www.federalreserve.gov/newsevents/speech/yellen20140331a.htm

March 31, 2014 - Federal Reserve Board announces approval of application by Community & Southern Holdings, Inc. www.federalreserve.gov/newsevents/press/orders/orders20140331a1.pdf

March 28, 2014 - Competition in lending and credit ratings - Javed Ahmed - This article relates corporate credit rating quality to competition in lending between the public bond market and banks. In the model, the monopolistic rating agency's choice of price and quality leads to an endogenous threshold separating low-quality bank-dependent issuers from higher-quality issuers with access to public debt. www.federalreserve.gov/pubs/feds/2014/201423/201423pap.pdf

March 28, 2014 - Fed’s Evans Addresses Business, Economic Leaders - Chicago Fed President Charles Evans provided his thoughts on monetary policy and the economy at the Credit Suisse Asian Investment Conference in Hong Kong. www.chicagofed.org/digital_assets/publications/speeches/2014/03_28_2014_thoughts_accommodative_policy_risks_hong_kong_print.pdf

March 28, 2014 - OCC Reports Fourth Quarter 2013 Trading Revenue of $2.9 Billion - Insured U.S. commercial banks and savings institutions reported trading revenue of $2.9 billion in the fourth quarter of 2013, down $1.5 billion or 34 percent, from $4.5 billion in the third quarter.  www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-46.html

March 28, 2014 - FDIC Makes Public February Enforcement Actions; One Administrative Hearing Scheduled for April 2014.   www.fdic.gov/news/news/press/2014/pr14022.html

March 28, 2014 - Industrial Production and Capacity Utilization--G.17 Annual Revision - The Federal Reserve has revised its index of industrial production and the related measures of capacity and capacity utilization.  www.federalreserve.gov/releases/g17/revisions/Current/DefaultRev.htm

March 28, 2014 - Federal Reserve announces approval of application by Banque Centrale Populaire.   www.federalreserve.gov/newsevents/press/orders/20140328a.htm

March 27, 2014 - Legal Interpretations - Bank Holding Companies/Savings and Loan Holding Companies/Change in Control - Letter to Robert D. Klingler granting a request by EJF Capital LLC, Arlington, Virginia, for relief from a commitment it made to the Board in connection with its acquisition of securities that were issued by Flagstar Bancorp, Inc., Troy, Michigan, to the Department of the Treasury as part of the Troubled Asset Relief Program's Capital Purchase Program. www.federalreserve.gov/bankinforeg/LegalInterpretations/bhc_changeincontrol20140327a1.pdf

March 27, 2014 - Governor Daniel K. Tarullo - Regulating Large Foreign Banking Organizations - At the Harvard Law School Symposium on Building the Financial System of the Twenty-first Century: An Agenda for Europe and the United States, Armonk, New York.   www.federalreserve.gov/newsevents/speech/tarullo20140327a.htm
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March 28, 2014 - FDIC Makes Public February Enforcement Actions - The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in February. One administrative hearing is scheduled for April 2014. http://www.fdic.gov/news/news/press/2014/pr14022.html

March 27, 2014 - OCC Reports on Mortgage Performance for Fourth Quarter of 2013 - The performance of first-lien mortgages serviced by large national and federal savings banks continued to improve in the fourth quarter of 2013, according to a report released today by the Office of the Comptroller of the Currency.   www.occ.gov/publications/publications-by-type/other-publications-reports/mortgage-metrics-2013/mortgage-metrics-q4-2013.pdf

March 27, 2014 - Deputy Comptroller Discusses Operational Risk - During her remarks before OpRisk North America, Deputy Comptroller for Operational Risk Carolyn DuChene today discussed the importance of effective operational risk management and oversight to mitigating the risks of today’s operational environment facing national banks and federal savings associations.
www.occ.gov/news-issuances/speeches/2014/pub-speech-2014-44.pdf

March 27, 2014 - Financial Market Stress Up Slightly for Third Consecutive Week - Financial market stress increased slightly for the third consecutive week. For the week ending March 21, 2014, the St. Louis Fed Financial Stress Index measured -1.030, up from a revised -1.042 over the previous week. The STLFSI has registered below-average levels of financial stress (an index less than zero) for 114 consecutive weeks. www.stlouisfed.org/newsroom/displayNews.cfm?article=2131

March 27, 2014 - St. Louis Fed To Webcast March 31 Dialogue with the Fed on "Bitcoin and Beyond" - The Federal Reserve Bank of St. Louis will webcast its next "Dialogue with the Fed: Beyond Today’s Financial Headlines" live on the Bank’s web site on Monday, March 31, 2014, beginning at 7 p.m. CDT. www.stlouisfed.org/newsroom/displayNews.cfm?article=2130

March 27, 2014 - Demand for M2 at the Zero Lower Bound: The Recent U.S. Experience - Ruth Judson, Bernd Schlusche, and Vivian Wong - In this paper, we re-examine the relationship between money and interest rates with a focus on the past few years, when the opportunity cost of M2 has dropped below zero.   www.federalreserve.gov/pubs/feds/2014/201422/201422pap.pdf

March 27, 2014 - An Evaluation of Bank VaR Measures for Market Risk During and Before the Financial Crisis - James O'Brien and Pawel J. Szerszen - We study the performance and behavior of Value at Risk (VaR) measures used by a number of large banks during and before the financial crisis.    www.federalreserve.gov/pubs/feds/2014/201421/201421pap.pdf

March 27, 2014 - Structure and Share Data for U.S. Banking Offices of Foreign Entities - Data are collected as of the end of the month for March, June, September and December, and generally are released three months later. www.federalreserve.gov/releases/iba/default.htm

March 27, 2014 - Federal Reserve Board announces termination of enforcement action with Cowboy State Bank.   www.federalreserve.gov/newsevents/press/enforcement/20140327a.htm

March 26, 2014 - NCUA - Matz: Financial Literacy Month a Good Time to Become a Smarter Consumer - April is National Financial Literacy Month, and National Credit Union Administration Board Chairman Debbie Matz urged credit unions to use the month to promote greater consumer education among their members. www.ncua.gov/News/Pages/NW20140326FinancialLiteracy.aspx

March 26, 2014 - Deputy Comptroller Discusses Keys to Successful Community Development Financing - During his remarks before the Memphis CDFI Network, Deputy Comptroller for Community Affairs Barry Wides today discussed keys to successful partnerships between banks and Community Development Financial Institutions. www.occ.gov/news-issuances/speeches/2014/pub-speech-2014-43.pdf

March 26, 2014 - Robert E. Lucas, Jr., to Present the 2014 Homer Jones Memorial Lecture.  www.stlouisfed.org/newsroom/displayNews.cfm?article=2129

March 26, 2014 - Using big data in finance: Example of sentiment-extraction from news articles - There is much discussion and research in finance on using "big data" to understand market "sentiment."  www.federalreserve.gov/econresdata/notes/feds-notes/2014/using-big-data-in-finance-example-of-sentiment-extraction-from-news-articles-20140326.html

March 26, 2014 - Federal Reserve releases results of Comprehensive Capital Analysis and Review - The Federal Reserve on Wednesday announced it has approved the capital plans of 25 bank holding companies participating in the Comprehensive Capital Analysis and Review.  www.federalreserve.gov/newsevents/press/bcreg/20140326a.htm

March 25, 2014 - New Issue of Risk Perspectives Available - Federal Reserve Bank of Chicago's supervision group follows current and emerging risk trends. Recent issue of Risk Perspectives highlights the emerging fraud environment, leveraged lending, emerging credit, market and liquidity risk and model risk management. www.chicagofed.org/digital_assets/publications/risk_perspectives/2011_2014/13_q3-4_risk_perspectives_chicago_fed.pdf

March 25, 2014 - Chair Janet L. Yellen - Remarks on Women's History Month - At the Women’s History Month Reception, U.S. Capitol, Washington, D.C. www.federalreserve.gov/newsevents/speech/yellen20140325a.htm

March 25, 2014 - Federal Reserve survey provides information on mobile financial services - The use of mobile phones to access a bank account, credit card, or other financial account continued to increase in prevalence among adults in the United States last year, according to the Federal Reserve Board's latest report on the use of mobile financial services. www.federalreserve.gov/newsevents/press/other/20140325a.htm

March 25, 2014 - Federal Reserve Board announces termination of enforcement actions with Commerce Bancshares, Florida Bank Group, Inc., and Florida Bank.  www.federalreserve.gov/newsevents/press/enforcement/20140325a.htm

March 24, 2014 - Economic Activity Increased in February - The Chicago Fed National Activity Index was +0.14 in February, up from
-0.45 in January. - Led by improvements in production-related indicators, the Chicago Fed National Activity Index increased to +0.14 in February from -0.45 in January. www.chicagofed.org/digital_assets/publications/cfnai/2014/cfnai_march2014.pdf

March 24, 2014 - Governor Jeremy C. Stein - Welcoming Remarks - At the Crowdfunding for Community Development Finance Conference, Washington, D.C. www.federalreserve.gov/newsevents/speech/stein20140324a.htm

March 24, 2014 - Federal Reserve issues full corrected results for the 2014 Dodd-Frank Act stress test - As announced on Friday, the Federal Reserve adjusted the stress test results to address inconsistencies in the treatment of the fourth quarter 2013 actual capital actions and assumptions about preferred and employee compensation-related issuance over the course of the planning horizon. www.federalreserve.gov/newsevents/press/bcreg/bcreg20140320a1.pdf

March 24, 2014 - Agencies issue proposed rule on minimum requirements for appraisal management companies - Six agencies today issued a proposed rule that would implement minimum requirements for state registration and supervision of appraisal management companies. An AMC is an entity that serves as an intermediary between appraisers and lenders and provides appraisal management services.
Press Release: Press Release: www.federalreserve.gov/newsevents/press/bcreg/20140324a.htm 
Press Release: www.fdic.gov/news/news/press/2014/pr14021.html
Press Release: www.occ.gov/news-issuances/news-releases/2014/nr-ia-2014-42.html
Press Release: www.ncua.gov/News/Pages/NW20140324AppraisalManagement.aspx

March 21, 2014 - Speech by Governor Jeremy C. Stein - Incorporating Financial Stability Considerations into a Monetary Policy Framework.   www.federalreserve.gov/newsevents/speech/stein20140321a.htm

March 21, 2014 - Office of the Comptroller of the Currency Hosts Baltimore Workshop for New and Experienced Bank Directors - The Office of the Comptroller of the Currency will host a workshop in Baltimore at the Embassy Suites Baltimore-Inner Harbor, April 28-30, for directors of national community banks and federal savings associations. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-41.html

March 21, 2014 - OCC Enforcement Actions - The Office of the Comptroller of the Currency today released new enforcement actions taken against national banks, federal savings associations, and individuals currently and formerly affiliated with national banks and federal savings associations. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-40.html

March 21, 2014 - St. Louis Fed President James Bullard Will Speak at 17th Asian Investment Conference in Hong Kong.   www.stlouisfed.org/newsroom/displayNews.cfm?article=2124

March 21, 2014 - The Effects of Bank Charter Switching on Supervisory Ratings - Marcelo Rezende - I study whether commercial banks can improve their supervisory ratings by switching charters. I use the fees charged by chartering authorities to establish a causal effect from switching on ratings. Banks receive more favorable ratings after they change charters, an effect that is large for both national and state charters. www.federalreserve.gov/pubs/feds/2014/201420/201420pap.pdf

March 21, 2014 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

March 21, 2014 - Credit and Liquidity Programs and the Balance Sheet - Quarterly Report on Federal Reserve Balance Sheet Developments, March 2014 - The Federal Reserve prepares this quarterly report as part of its efforts to enhance transparency about its balance sheet, financial information, and monetary policy tools, and to ensure appropriate accountability to the Congress and the public. www.federalreserve.gov/monetarypolicy/quarterly-balance-sheet-developments-report.htm

March 21, 2014 - Federal Open Market Committee - 2008 FOMC Summaries of Economic Projections: Individual Projections Compilations.   www.federalreserve.gov/monetarypolicy/fomchistorical2008.htm

March 21, 2014 - Federal Reserve issues corrected results for the 2014 Dodd-Frank Act stress test - The Federal Reserve on Friday issued corrected results for the 2014 Dodd-Frank Act stress test. For 26 of the 30 firms, the correction led to either no change or at most a 0.1 percentage point change in the firms' minimum, post-stress tier 1 common capital ratios in the severely adverse scenario. www.federalreserve.gov/newsevents/press/bcreg/20140321a.htm

March 21, 2014 - Federal Reserve Board issues consent order against IMB HoldCo LLC - The Federal Reserve Board on Friday announced the issuance of a consent order against IMB HoldCo LLC (IMB), a bank holding company that controls OneWest Bank N.A. www.federalreserve.gov/newsevents/press/enforcement/20140321a.htm
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March 20, 2014 - Financial Market Stress Up Slightly Over Previous Week - Financial market stress increased for the second consecutive week according to the St. Louis Fed Financial Stress Index. For the week ending March 14, 2014, the STLFSI measured -1.034, up slightly from the previous week. www.stlouisfed.org/newsroom/displayNews.cfm?article=2122

March 20, 2014 - Freedom of Information Office - 2014 Chief FOIA Officer Report - The Chief FOIA Officer of the Board of Governors of the Federal Reserve System, Margaret McCloskey Shanks, Deputy Secretary, hereby submits the Chief FOIA Officer Report on behalf of the Board in accordance with the template provided by the Department of Justice. www.federalreserve.gov/foia/foia-officer-report-2014.htm

March 20, 2014 - Freedom of Information Office - Annual Report on FOIA for Fiscal Year 2013.  www.federalreserve.gov/foia/annrept_2013.htm

March 20, 2014 - Federal Reserve releases summary results of bank stress tests - According to the summary results of bank stress tests announced by the Federal Reserve on Thursday, the largest banking institutions in the United States are collectively better positioned to continue to lend to households and businesses and to meet their financial commitments in an extremely severe economic downturn than they were five years ago. www.federalreserve.gov/newsevents/press/bcreg/20140320a.htm

March 20, 2014 - Federal Reserve issues FOMC statement - Information received since the Federal Open Market Committee met in January indicates that growth in economic activity slowed during the winter months, in part reflecting adverse weather conditions. Labor market indicators were mixed but on balance showed further improvement. The unemployment rate, however, remains elevated. www.federalreserve.gov/newsevents/press/monetary/20140319a.htm

March 20, 2014 - NCUA Hosting Financial Literacy Webinar - Credit unions can learn more about promoting financial literacy by participating in a free webinar, “Financial Literacy: Putting Your Mission into Action,” hosted by the National Credit Union Administration on Thursday, April 3, 2014, at 2 p.m. Eastern. www.ncua.gov/News/Pages/NW20140320Webinar.aspx

March 20, 2014 - NCUA - March 2014 Board Meeting:Stabilization Fund Net Position Improves - The National Credit Union Administration Board convened its third scheduled open meeting of 2014 at the agency’s headquarters here today. Board Members received an update on the Temporary Corporate Credit Union Stabilization Fund and unanimously approved a joint agency proposed rule on minimum requirements for appraisal management companies. www.ncua.gov/about/Pages/Board%20Actions/BAB20140320.aspx

March 19, 2014 - Federal Reserve Board and Federal Open Market Committee release economic projections from the March 18-19 FOMC meeting - The attached table and charts released on Wednesday summarize the economic projections and the target federal funds rate projections made by Federal Reserve Board members and Federal Reserve Bank presidents for the March 18-19 meeting of the Federal Open Market Committee. www.federalreserve.gov/newsevents/press/monetary/20140319b.htm

March 18, 2014 - Chicago Fed 2013 Financial Statements Available - Federal Reserve Bank of Chicago 2013 financial statements are now available online. www.federalreserve.gov/monetarypolicy/files/BSTChicagofinstmt2013.pdf

March 18, 2014 - NCUA - Upper End of Projected Loss Range for Failed Corporates Continues Decline - Total projected assessments associated with the Temporary Corporate Credit Union Stabilization Fund declined $2.2 billion at the upper end between July and December 2013, the National Credit Union Administration announced today, the sharp drop due largely to the JPMorgan Chase settlement in November 2013. www.ncua.gov/News/Pages/NW20140318FailedCorporates.aspx

March 18, 2014 - March 31 Dialogue To Focus on the Possibilities and the Pitfalls of Bitcoin and Other Virtual Currencies - What exactly are Bitcoin and its main competitors, and how do they work? Are they the first wave of a new paradigm in payments or just a technological flash in the pan? www.stlouisfed.org/newsroom/displayNews.cfm?article=2115

March 18, 2014 - Cynthia Edwards Joins St. Louis Fed’s Agribusiness Industry Council - Cynthia Edwards, deputy secretary for the Arkansas Agriculture Department in Little Rock, Ark., has been named to the Agribusiness Industry Council of the Federal Reserve Bank of St. Louis. www.stlouisfed.org/newsroom/displayNews.cfm?article=2116

March 18, 2014 - Edward O. Fryar Jr., Ph.D., Joins St. Louis Fed’s Agribusiness Industry Council - Edward O. Fryar Jr., Ph.D., chief executive officer and founder of Ozark Mountain Poultry in Little Rock, Ark., has been named to the Agribusiness Industry Council of the Federal Reserve Bank of St. Louis. www.stlouisfed.org/newsroom/displayNews.cfm?article=2117

March 18, 2014 - Statistical Release - 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

March 18, 2014 - Federal Reserve Board announces termination of the enforcement action with Remer Bancorporation, Inc. www.federalreserve.gov/newsevents/press/enforcement/20140318a.htm

March 17, 2014 - The Fiscal Cliff and the Dynamics of Income - Chicago Fed Letter explores how firms and individuals shifted income to 2012 to reduce impact of potential tax hikes in 2013. www.chicagofed.org/digital_assets/publications/chicago_fed_letter/2014/cflapril2014_321.pdf

March 17, 2014 - Chicago Fed 2013 Financial Statements Available - Federal Reserve Bank of Chicago 2013 financial statements are now available online. www.federalreserve.gov/monetarypolicy/files/BSTChicagofinstmt2013.pdf

March 17, 2014 - NCUA - Stabilization Fund Earns Clean 2013 Audit - The Temporary Corporate Credit Union Stabilization Fund has received a fifth consecutive clean audit opinion, the National Credit Union Administration announced today. www.ncua.gov/News/Pages/NW20140317Audit.aspx 

March 17, 2014 - NCUA - The NCUA Report for March 2014 Now Available.  www.ncua.gov/News/NewsLtrs/Pages/default.aspx

March 17, 2014 - Comptroller Discusses Bank Secrecy Act/Anti-Money Laundering - Comptroller of the Currency Thomas J. Curry covered accountability and risk management as they relate to the Bank Secrecy Act and Anti-Money Laundering efforts in remarks delivered to the Association of Certified Anti-Money Laundering Specials AML and Financial Crimes Conference held today in Hollywood, Florida. www.occ.gov/news-issuances/speeches/2014/pub-speech-2014-39.pdf

March 17, 2014 - Media Advisory* St. Louis Fed President James Bullard Will Speak at Brookings Panel on Economic Activity.   www.stlouisfed.org/newsroom/displayNews.cfm?article=2113

March 17, 2014 - FRED Redesign Focuses on Improved Functionality, Enhanced Graphs - The Federal Reserve Bank of St. Louis has launched an upgrade to its signature online database FRED.  www.stlouisfed.org/newsroom/displayNews.cfm?article=2114

March 17, 2014 - Statistical Release - Industrial Production and Capacity Utilization--G.17 - Industrial production increased 0.6 percent in February after having declined 0.2 percent in January. In February, manufacturing output rose 0.8 percent and nearly reversed its decline of 0.9 percent in January, which resulted, in part, from extreme weather. www.federalreserve.gov/releases/g17/current/default.htm

March 14, 2014 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

March 14, 2014 - Report to the Congress - Reports Pursuant to Section 129 of the Emergency Economic Stabilization Act of 2008 - March 14, 2014.   www.federalreserve.gov/monetarypolicy/files/129periodicupdate20140314.pdf

March 14, 2014 - Federal Reserve System publishes annual financial statements - The Federal Reserve System on Friday released the 2013 combined annual financial statements for the Federal Reserve Banks, as well as statements for the 12 individual Federal Reserve Banks, the consolidated variable interest entities that were created to respond to strains in financial markets, and the Board of Governors.  www.federalreserve.gov/newsevents/press/other/20140314a.htm ____________________________________

March 13, 2014 - GAO - Financial Audit: Federal Deposit Insurance Corporation Funds' 2013 and 2012 Financial Statements.   http://www.gao.gov/products/GAO-14-303

March 13, 2014 - The Fiscal Cliff and the Dynamics of Income - Chicago Fed Letter explores how firms and individuals shifted income to 2012 to reduce impact of potential tax hikes in 2013. www.chicagofed.org/digital_assets/publications/chicago_fed_letter/2014/cflapril2014_321.pdf

March 13, 2014 - NCUA Awards $517,890 in Grants to 127 Low-Income Credit Unions - Low-income credit unions will be able to offer new products, train the next generation of credit union leadership and gain access to more resources to help their communities with grants awarded by the National Credit Union Administration. www.ncua.gov/News/Pages/NW20140313Grants.aspx

March 13, 2014 - Financial Market Stress Relatively Unchanged over Previous Week - Financial market stress was little changed over the past week according to the St. Louis Fed Financial Stress Index. For the week ending March 7, 2014, the STLFSI measured -1.036, up slightly from the previous week, when it measured -1.046. www.stlouisfed.org/newsroom/displayNews.cfm?article=2107

March 13, 2014 - Little Rock Burgundy Book: 2013 Ends on a Soft Note; Business Contacts Appear Cautiously Optimistic about 2014.   www.stlouisfed.org/newsroom/displayNews.cfm?article=2108

March 13, 2014 - Memphis Burgundy Book: Despite Difficulties, Business Contacts Are More Optimistic than Pessimistic about Memphis Economy in 2014.   www.stlouisfed.org/newsroom/displayNews.cfm?article=2109

March 13, 2014 - Louisville Burgundy Book: Louisville Experiences Healthy Growth; Business Contacts Remain Optimistic.   www.stlouisfed.org/newsroom/displayNews.cfm?article=2110

March 13, 2014 - St. Louis Burgundy Book: Improving Economic Conditions and Rising Optimism for the St. Louis Zone.   www.stlouisfed.org/newsroom/displayNews.cfm?article=2111

March 13, 2014 - Federal Reserve Board announces termination of enforcement actions with CoastalSouth Bancshares, Inc., Community West Bancshares, and Intervest Bancshares Corporation.  www.federalreserve.gov/newsevents/press/enforcement/20140313a.htm

March 12, 2014 - Governor Jerome H. Powell - Nomination hearing - Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate, Washington, D.C. www.federalreserve.gov/newsevents/testimony/powell20140313a.htm

March 12, 2014 - Fed’s Evans Addresses Georgia Students, Business Leaders - Chicago Fed President Charles Evans provided his perspective on monetary policy at an Executive Speaker Series at the Turner Business School at Columbus State University. www.chicagofed.org/webpages/publications/speeches/2014/03_10_14_monetary_policy_columbus_charles_l_evans.cfm

March 12, 2014 - Comptroller Discusses Community Reinvestment - Comptroller of the Currency Thomas J. Curry discussed how national banks and federal savings associations can more effectively serve the credit needs of rural communities, especially in economically distressed areas, during remarks at the National Community Reinvestment Coalition annual conference. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-38.html

March 12, 2014 - OCC Releases CRA Evaluations for 24 National Banks and Federal Savings Associations -The Office of the Comptroller of the Currency (OCC) today released a list of Community Reinvestment Act performance evaluations that became public during the period of February 1, 2014 through February 28, 2014. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-37.html

March 12, 2014 - 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 (CRA) performance evaluations that became public during the period of January 1, 2014 through January 31, 2014. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-36.html

March 11, 2014 - OCC Releases CRA Evaluations for 34 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, 2013 through December 31, 2013. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-35.html

March 11, 2014 - Federal Reserve announces results of offering of seven-day term deposits on March 10.   www.federalreserve.gov/newsevents/press/monetary/20140311a.htm

March 11, 2014 - Federal Reserve Board issues enforcement action with Jack Henry and Associates and termination of enforcement actions with Northfield Bancshares and Community Resource Bank, United Holding Company, TFC Holding Company, and AliKat Investments.   www.federalreserve.gov/newsevents/press/enforcement/20140311a.htm

March 10, 2014 - Federal Open Market Committee - Annual Report on the Freedom of Information Act for Fiscal Year 2013.    www.federalreserve.gov/foia/files/FOMCFOIA2013anrpt.pdf

March 7, 2014 - Bank regulatory agencies and CDFI Fund to sponsor National Interagency Community Reinvestment Conference.   www.federalreserve.gov/newsevents/press/other/20140307a.htm

March 7, 2014 - New Issue of Risk Perspectives Available - Federal Reserve Bank of Chicago's supervision group follows current and emerging risk trends. Recent issue of Risk Perspectives highlights the emerging fraud environment, leveraged lending, emerging credit, market and liquidity risk and model risk management. www.chicagofed.org/digital_assets/publications/risk_perspectives/2011_2014/13_q3-4_risk_perspectives_chicago_fed.pdf

March 7, 2014 - Fed’s Evans Addresses Monetary Policy Forum - Chicago Fed President Charles Evans talked about monetary policy strategy and communications February 28 during the U.S. Monetary Policy Forum in New York. www.chicagofed.org/digital_assets/publications/speeches/2014/02_28_2105_monetary_policy_and_communications_charles_evans_new_york_city_print.pdf

March 7, 2014 - NCUA Chairman Matz Town Hall Webinar with CFPB Director Cordray Now Online - The Feb. 12 town hall webinar hosted by National Credit Union Administration Board Chairman Debbie Matz and featuring Richard Cordray, Director of the Consumer Financial Protection Bureau, is now available online, the agency announced today. www.ncua.gov/News/Pages/NW20140307MatzWebinar.aspx

March 7, 2014 - OCC Hosts Atlanta Workshops on Risk Assessment and Credit Risk - The Office of the Comptroller of the Currency will host two workshops in Atlanta at the Wyndham Atlanta Galleria, April 8-9, for directors of national community banks and federal savings associations. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-34.html

March 7, 2014 - Eighth District Mortgage Delinquencies Continue To Fall During Fourth Quarter 2013 - Mortgage delinquencies continued to decline across the Eighth District during the fourth quarter of 2013, while housing prices were mixed, according to the St. Louis Fed’s latest Housing Market Conditions report. www.stlouisfed.org/newsroom/displayNews.cfm?article=2104

March 7, 2014 - Bank Regulatory Agencies and CDFI Fund to Sponsor National Interagency Community Reinvestment Conference - The federal bank regulatory agencies, the Federal Reserve Bank of San Francisco, the Federal Reserve Bank of Chicago, and the Community Development Financial Institutions Fund will host the 2014 National Interagency Community Reinvestment Conference in Chicago on March 31 to April 2.
Press Release: www.fdic.gov/news/news/press/2014/pr14020.html
Press Release: www.occ.gov/news-issuances/news-releases/2014/nr-ia-2014-33.html

March 7, 2014 - Statistical Release - G.19 - Consumer Credit - In January, consumer credit increased at a seasonally adjusted annual rate of 5-1/4 percent. Revolving credit decreased at an annual rate of 1/4 percent, while nonrevolving credit increased at an annual rate of 7-1/2 percent. www.federalreserve.gov/releases/g19/current/default.htm

March 7, 2014 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

March 7, 2014 - Federal Open Market Committee - 2008 FOMC Bluebooks, Greenbooks, and Meeting Agendas.   www.federalreserve.gov/monetarypolicy/fomchistorical2008.htm

March 7, 2014 - Statistical Releases - G.17 Updated Seasonal Factors.  www.federalreserve.gov/releases/g17/download.htm
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March 6, 2014 - Office of the Comptroller of the Currency Provides Consumer Information at National Consumer Protection Week Event on Capitol Hill - The Office of the Comptroller of the Currency promoted awareness of consumer protection resources during today’s National Consumer Protection Week event on Capitol Hill. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-32.html

March 6, 2014 - Financial Market Stress Declines for Third Straight Week - Financial market stress tracked lower for the third consecutive week according to the St. Louis Fed Financial Stress Index (STLFSI). From the week ending Feb. 21, 2014, to the week ending Feb. 28, 2014, the STLFSI fell from -0.989 to -1.038. www.stlouisfed.org/newsroom/displayNews.cfm?article=2103

March 6, 2014 - Statistical Release - Mortgage Debt Outstanding.  www.federalreserve.gov/econresdata/releases/mortoutstand/current.htm

March 6, 2014 - Supervision Manuals - Bank Holding Company Supervision Manual.  www.federalreserve.gov/boarddocs/supmanual/supervision_bhc.htm

March 6, 2014 - Statistical Release - Financial Accounts of the United States - Z.1.  www.federalreserve.gov/releases/z1/

March 6, 2014 - Federal Reserve offers seven-day term deposits through its Term Deposit Facility.   www.federalreserve.gov/newsevents/press/monetary/20140306a.htm

March 6, 2014 - Federal Reserve Board announces termination of enforcement action with Hometown of Homestead Banking Company.  www.federalreserve.gov/newsevents/press/enforcement/20140306a.htm

March 6, 2014 - NCUA February Board Meeting Video Now Available Online.  www.ncua.gov/News/Pages/NW20140306BoardVideo.aspx

March 5, 2014 - Update on Financial Conditions - The NFCI and ANFCI both continued to indicate looser-than-average financial conditions in February. www.chicagofed.org/webpages/publications/nfci/index.cfm

March 5, 2014 - NCUA: State Data Show Strong Loan, Membership Growth in Fourth Quarter 2013 - A new analysis of state-level data by the National Credit Union Administration shows strong loan and membership growth at federally insured credit unions in the year ending Dec. 31, 2013. www.ncua.gov/News/Pages/NW20140305QuarterlyMapReview.aspx

March 5, 2014 - Federal Reserve Releases March Beige Book and Related Sound Clip - Audio highlights of the Federal Reserve's Beige Book, which summarize economic conditions for the United States as a whole and the Fed's Eighth District, are available for downloading. The entire Beige Book audio clip is produced in MP3 format.
www.stlouisfed.org/newsroom/displayNews.cfm?article=2100
www.stlouisfed.org/newsroom/displayNews.cfm?article=2101

March 5, 2014 - National Bank Examinations and Operations in the Early 1890s - Charles W. Calomiris and Mark Carlson - We use information from examination reports to enrich our understanding of both the examination process and bank operations for National Banks in the early 1890s, the height of the National Banking Era. www.federalreserve.gov/pubs/feds/2014/201419/201419pap.pdf

March 5, 2014 - A Model of Slow Recoveries from Financial Crises - Albert Queraltó - This paper documents highly persistent effects of financial crises on output, labor productivity and employment in a sample of emerging economies. To address these facts, it introduces a quantitative macroeconomic model that includes endogenous TFP growth through firm creation. www.federalreserve.gov/pubs/ifdp/2013/1097/ifdp1097.pdf

March 5, 2014 - Small Price Responses to Large Demand Shocks - Etienne Gagnon and David Lopez-Salido - We study the pricing response of U.S. supermarkets to large demand shocks triggered by labor conflicts, mass population relocation, and shopping sprees around major snowstorms and hurricanes.  www.federalreserve.gov/pubs/feds/2014/201418/201418pap.pdf

March 5, 2014 - Beige Book - Informal review by the Federal Reserve Banks of current economic conditions in their Districts.   www.federalreserve.gov/monetarypolicy/beigebook/default.htm

March 5, 2014 - Chair Janet L. Yellen - Remarks at the Ceremonial Swearing-in - At the Federal Reserve Board, Washington, D.C. www.federalreserve.gov/newsevents/speech/yellen20140305a.htm

March 5, 2014 - Agencies issue final Dodd-Frank Act stress test guidance for medium-sized firms - Three federal bank regulatory agencies are issuing final guidance describing supervisory expectations for stress tests conducted by financial companies with total consolidated assets between $10 billion and $50 billion.
Press Release: www.federalreserve.gov/newsevents/press/bcreg/20140305a.htm
Press Release: www.fdic.gov/news/news/press/2014/pr14019.html
Press Release: www.occ.gov/news-issuances/news-releases/2014/nr-ia-2014-31.html

March 4, 2014 - Comptroller of the Currency Discusses Community Banking - Comptroller of the Currency Thomas J. Curry discussed the importance of community banking, its supervision, and resources available from the OCC during prepared remarks delivered to the Independent Community Bankers of America’s Annual Convention. www.occ.gov/news-issuances/speeches/2014/pub-speech-2014-30.pdf

March 4, 2014 - OCC Issues Second Quarter CRA Evaluation Schedule - The Office of the Comptroller of the Currency today released its schedule of Community Reinvestment Act (CRA) evaluations to be conducted in the second quarter of 2014. www.occ.gov/news-issuances/news-releases/2014/nr-occ-2014-29.html

March 4, 2014 - FDIC Issues List of Banks Examined for CRA Compliance - The Federal Deposit Insurance Corporation today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act.  www.fdic.gov/news/news/press/2014/pr14018.html

March 4, 2014 - Finance and Productivity Growth: Firm-level Evidence - Oliver Levine and Missaka Warusawitharana -Using data on a broad set of European firms, we find a strong positive relationship between the use of external financing and future productivity growth within firms.  www.federalreserve.gov/pubs/feds/2014/201417/201417pap.pdf

March 4, 2014 - Federal Reserve announces results of offering of seven-day term deposits on March 3.   www.federalreserve.gov/newsevents/press/monetary/20140304a.htm

March 3, 2014 - Deputy Comptroller Discusses OCC Initiatives with International Bankers - Deputy Comptroller for Capital and Regulatory Policy Charles Taylor discussed three initiatives by the Office of the Comptroller of the Currency to strengthen banking and its regulation during remarks at the Institute of International Bankers’ Annual Washington Conference. www.occ.gov/news-issuances/speeches/2014/pub-speech-2014-28.pdf

March 3, 2014 - NCUA - Credit Unions End 2013 with Positive Financials, but Risks Loom Ahead - America’s credit unions saw growth in several key indicators during 2013, but other trends were less positive, and National Credit Union Administration Board Chairman Debbie Matz sounded a note of caution, urging credit unions not to leverage their futures by taking on excessive interest rate risk. www.ncua.gov/News/Pages/NW20140303Q4IndustryData.aspx