The E-mail Banking News
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March 16, 2018 - OCC Enforcement Actions and Terminations for March 2018
- 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.
March 15, 2018 - Household Inequality and the Consumption Response to
Aggregate Real Shocks By Gene Amromin , Mariacristina De Nardi , Karl
Schulze - The drop in output and consumption that occurred during the
Great Recession has been large and prolonged.
March 15, 2018 - OCC Reports Mortgage Performance Unchanged -
Performance of first-lien mortgages remained largely unchanged during
the fourth quarter of 2017 compared with a year earlier, according to
the Office of the Comptroller of the Currency’s quarterly report on
March 15, 2018 - Maureen Whalen Named Deputy Comptroller for External
Governance and the Ombudsman Office - The Office of the Comptroller of
the Currency announced today that Maureen Whalen has been appointed
Deputy Comptroller for External Governance and the Ombudsman Office,
effective June 10, 2018.
March 15, 2018 - OCC Hosts Risk Governance and Credit Risk Workshops in
Florida - The Office of the Comptroller of the Currency will host two
workshops at the Holiday Inn Fort Walton Beach, Fort Walton Beach, Fla.,
April 24-25, for directors of national community banks and federal
savings associations supervised by the OCC.
March 15, 2018 - NCUA Board Seeks Comments on Possible Credit Union
Bylaws Changes - Credit Union Stakeholders Can Also Comment on a
Proposal to Improve Procurement Process - The National Credit Union
Administration Board held its third open meeting of 2018 at the agency’s
headquarters here today and unanimously approved two items:
March 14, 2018 - NCUA - Beverly Bus Garage Federal Credit Union
Conserved - The National Credit Union Administration today placed
Beverly Bus Garage Federal Credit Union, in Chicago, Illinois, into
March 14, 2018 - The Winds of Change for Community Banking Headwinds,
Tailwinds, and Regulation By Romel Bonilla , Jenna Cooper , Adam
Emmerich , Theresa Hembd , Pamela Kennedy , Blake Marquart , Joseph
Nashar - The 12th annual Community Bankers Symposium, cosponsored by the
Federal Reserve Bank of Chicago, the Federal Deposit Insurance
Corporation, and the Office of the Comptroller of the Currency was held
at the Chicago Fed on November 17, 2017.
March 14, 2018 - OCC Hosts Compliance and Operational Risk Workshops in
Indianapolis - The Office of the Comptroller of the Currency will host
two workshops in Indianapolis at the Crowne Plaza Indianapolis Airport,
Indianapolis, Ind., April 17 and 18, for directors of national community
banks and federal savings associations supervised by the OCC.
March 13, 2018 - NCUA - State Credit Union Data Show Loan Growth
Continues in Fourth Quarter of 2017 - Federally insured credit unions
across the country saw continued loan growth in the fourth quarter,
according to state-level data compiled by the National Credit Union
Administration and released today.
March 13, 2018 - NCUA Board Adds to Closed Meeting Agenda - The National
Credit Union Administration Board has added a second item to the agenda
for its closed meeting scheduled for Wednesday, March 14, beginning at
1:30 p.m. Eastern.
March 13, 2018 - Federal Reserve issues enforcement action with
Industrial and Commercial Bank of China Ltd.
March 12, 2018 - Notice of a Meeting under Expedited Procedures - A
closed meeting of the Board of Governors of the Federal Reserve System
was held at 11:15 a.m. on March 12, 2018. 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.
March 9, 2018 - Chicago Fed’s Charles Evans Talks about Monetary Policy
during March 9 Speech in New York - Some Practical Considerations for
Monetary Policy Frameworks
A speech delivered on March 9, 2018, before the Manhattan Institute
Shadow Open Market Committee in New York City.
March 9, 2018 - Home Mortgage Disclosure Act: FFIEC’s Revised 'A Guide
to HMDA Reporting: Getting It Right!' - The Office of the Comptroller of
the Currency is announcing the issuance of the Federal Financial
Institutions Examination Council’s revised “A Guide to HMDA Reporting:
Getting It Right!,” which reflects the new reporting requirements set
forth in the October 2015 Home Mortgage Disclosure Act Final Rule as
amended in 2017.
March 9, 2018 - Federal Reserve Vice Chair Quarles to Speak at 2018
Fed/CSBS Community Banking Research Conference - Federal Reserve Vice
Chair for Supervision Randal K. Quarles will deliver one of the keynote
addresses during the sixth annual Community Banking in the 21st Century
research and policy conference that will be held Oct. 3-4 at the Federal
Reserve Bank of St. Louis.
March 9, 2018 - Credit and Liquidity Programs and the Balance Sheet -
Recent balance sheet trends, weekly chart update.
March 9, 2018 - Help Wanted: Evaluating Labor Shortages in Manufacturing
- Maria D. Tito1 - According to the latest data from the Labor
Department's Job Openings and Labor Turnover Survey, the number of job
openings in manufacturing decreased in December, while the number of
hires moved up.
March 9, 2018 - Should We Be Concerned Again About U.S. Current Account
Sustainability? - Shaghil Ahmed, Carol Bertaut, Jessica Liu, and Robert
Vigfusson - The U.S. net international investment position the
difference between a country's external financial assets and
liabilities--as a share of GDP in recent years has resumed its earlier
March 9, 2018 - Supervision Manuals - Commercial Bank Examination Manual
-- January 2018 update - Effective December 31, 2017, the Board will no
longer offer print versions or subscriptions for the Commercial Bank
Examination Manual. You can still access the manual on the Board's
March 9, 2018 - The Impact of the Current Expected Credit Loss Standard
on the Timing and Comparability of Reserves - Sarah Chae, Robert F.
Sarama, Cindy M. Vojtech, and James Wang - The new forward-looking
credit loss provisioning standard, CECL, is intended to promote
proactive provisioning as loan loss reserves can be conditioned on
expectations of the economic cycle.
March 9, 2018 - "Unconventional" Monetary Policy as Conventional
Monetary Policy: A Perspective from the U.S. in the 1920s - Mark Carlson
and Burcu Duygan-Bump - To implement monetary policy in the 1920s, the
Federal Reserve utilized administered interest rates and conducted open
market operations in both government securities and private money market
securities, sometimes in fairly considerable amounts.
March 9, 2018 - Liquidity Requirements, Free-Riding, and the
Implications for Financial Stability Evidence from the early 1900s -
Mark Carlson and Matthew Jaremski - Maintaining sufficient liquidity in
the financial system is vital for financial stability.
March 9, 2018 - Federal Reserve Board announces it will not object to
the capital plan resubmitted by Capital One Financial Corporation - The
Federal Reserve Board announced on Friday that it will not object to the
capital plan resubmitted by Capital One Financial Corporation, as a
result of progress in addressing deficiencies in last year's
Comprehensive Capital Analysis and Review
March 8, 2018 - The U.S Economic Outlook and Monetary Policy Esther L.
George President and Chief Executive Officer Federal Reserve Bank of
March 8, 2018 - 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.
March 8, 2018 - 2018 Chief FOIA Officer Report - Margaret McCloskey
Shanks, Deputy Secretary and Chief FOIA Officer for the Board of
Governors of the Federal Reserve System, hereby submits the Chief FOIA
Officer Report on behalf of the Board.
March 8, 2018 - Liquidity Crises in the Mortgage Market - You Suk Kim,
Steven M. Laufer, Karen Pence, Richard Stanton, and Nancy Wallace -
Nonbanks originated about half of all mortgages in 2016, and 75% of
mortgages insured by the FHA or VA.
March 8, 2018 - 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 12:00 p.m. on March
12, 2018. Matter(s) considered: Review and determination by the Board of
Governors of the advance and discount rates to be charged by the Federal
March 8, 2018 - Federal Reserve Board announces termination of
enforcement action with Royal Bank of Scotland Group.
March 7, 2018 - Chicago Fed Survey of Business Conditions - Survey shows
steady growth in January and early February - The Chicago Fed Survey of
Business Conditions Activity Index edged down to +22 from +25,
suggesting that growth in economic activity continued at a moderate pace
in January and early February.
March 7, 2018 - NCUA Board Re-Schedules March Closed Meeting - The March
closed meeting will be held Wednesday, March 14, beginning at 1:30 p.m.
March 7, 2018 - FDIC Announces Settlement with The Bancorp Bank,
Wilmington, Delaware, for Unfair and Deceptive Practices - Harmed
consumers to receive approximately $1.3 million in restitution - The
Federal Deposit Insurance Corporation announced a settlement with The
Bancorp Bank, Wilmington, Delaware, relating to unfair and deceptive
practices in violation of Section 5 of the Federal Trade Commission Act
March 7, 2018 - Statistical Release - Consumer Credit - G.19 In January,
consumer credit increased at a seasonally adjusted annual rate of 4-1/4
percent. Revolving credit increased at an annual rate of 3/4 percent,
while nonrevolving credit increased at an annual rate of 5-1/2 percent.
March 7, 2018 - Beige Book - Informal review by the Federal Reserve
Banks of current economic conditions in their Districts Summary of
Commentary on Current Economic Conditions by Federal Reserve District -
Commonly known as the Beige Book, this report is published eight times
March 7, 2018 - Measuring Early-Stage Business Formation - Kimberly
Bayard, Emin Dinlersoz (U.S. Census Bureau), Timothy Dunne (University
of Notre Dame), John Haltiwanger (University of Maryland), Javier
Miranda (U.S. Census Bureau), and John Stevens - New businesses play an
important role in overall economic activity.
March 7, 2018 - FOIA - 2018 Currency Budget.
March 6, 2018 - St. Louis Fed’s Kevin L. Kliesen wins 2018 Daniel
Meckstroth Award for Excellence in Manufacturing Research - Business
Economist and Research Officer Kevin L. Kliesen at the Federal Reserve
Bank of St. Louis, is the winner of the 2018 Daniel Meckstroth Award
based on his paper, “Is American Manufacturing in Decline?”
March 6, 2018 - New “Demographics of Wealth” Report Reveals a Financial
Head Start for Some Begins At Birth - A new Demographics of Wealth
report by the St. Louis Fed’s Center for Household Financial Stability
documents how the education of one’s parents, along with race or
ethnicity, can influence the earning and wealth-building power of
college for their adult children.
March 6, 2018 - Speech by Governor Lael Brainard - Navigating Monetary
Policy as Headwinds Shift to Tailwinds At the Money Marketeers of New
York University, New York, New York.
March 6, 2018 - Revised “A Guide to HMDA Reporting: Getting It Right!” -
The Task Force on Consumer Compliance of the Federal Financial
Institutions Examination Council recently developed a revised version of
"A Guide to HMDA Reporting: Getting It Right!"
March 6, 2018 - Report to the Congress on Implementation of Enhanced
Prudential Standards, January 2018 - Discusses the implementation of
enhanced prudential standards under section 165 of the Dodd-Frank Wall
Street Reform and Consumer Protection Act.
March 6, 2018 - Stock Market Cross-Sectional Skewness and Business Cycle
Fluctuations - Thiago R. T. Ferreira - Using U.S. data from 1926 to
2015, I show that financial skewness--a measure comparing
cross-sectional upside and downside risks of the distribution of stock
market returns of financial firms--is a powerful predictor of business
March 6, 2018 - Federal Reserve Board requests comments on amendments to
simplify Regulation J and make it conform more closely with Regulation
CC - The proposed amendments are intended to align the rights and
obligations of parties, including the Federal Reserve Banks, with the
Board's 2017 amendments to Regulation CC, which reflected the evolution
of the nation's check collection system from one that is largely
paper-based to one that is virtually all electronic.
March 6, 2018 - Federal Reserve Board announces termination of
enforcement action with Trinity Capital Corporation.
March 5, 2018 - Updated and Expanded Web Tool Helps Cities Find Peers
with Similar Challenges - The Web-based tool that helps users identify
municipalities with similar economic, demographic and labor
characteristics has been expanded significantly and now includes data on
960 cities across the U.S.
March 5, 2018 - NCUA Releases Q4 2017 Credit Union System Performance
Data - Data on the financial performance of federally insured credit
unions in the quarter ending Dec. 31, 2017, are now available from the
National Credit Union Administration.
March 5, 2018 - OCC Hosts Mutual Savings Association Advisory Committee
Meeting on March 21 - The Office of the Comptroller of the Currency
today announced it will host a public meeting of the Mutual Savings
Association Advisory Committee on Wednesday, March 21, 2018, beginning
at 8:30 a.m. Eastern Daylight Time.
March 5, 2018 - FFIEC Revised A Guide to HMDA Reporting: Getting It
Right! - The Federal Financial Institutions Examination Council has
revised A Guide to HMDA Reporting: Getting It Right! to reflect the
October 2015 Home Mortgage Disclosure Act final rule, as amended in
March 5, 2018 - 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
March 5, 2018 - FDIC Consumer News Features Tips on Protecting Assets -
It's always important for consumers to save money for their future, keep
banking and borrowing costs down, and guard their possessions from
high-tech thieves in today's digital world. The Winter 2018 FDIC
Consumer News includes information about:
March 5, 2018 - FDIC Provides Q&As for Consumers as Part of National
Consumer Protection Week - In observance of National Consumer Protection
Week March 4-10, 2018, the FDIC will post a new question and answer on a
different banking topic each weekday at www.fdic.gov/ncpw.
March 5, 2018 - Regulatory Reform - Communications with the public
through March 5, 2018 - The Federal Reserve Board will be involved in
many rulemakings to implement the Dodd-Frank Wall Street Reform and
Consumer Protection Act of 2010.
March 5, 2018 - Currency and Coin Services - 2017 data updates.
March 5, 2018 - Early-Stage Business Formation: An Analysis of
Applications for Employer Identification Numbers - Kimberly Bayard, Emin
Dinlersoz, Timothy Dunne, John Haltiwanger, Javier Miranda, and John
Stevens - This paper reports on the development and analysis of a newly
constructed dataset on the early stages of business formation.
March 5, 2018 - Speech by Vice Chairman Quarles on the Federal Reserve’s
regulatory agenda for foreign banking organizations.
March 2, 2018 - Comprehensive Capital Analysis and Review - Enhancements
to Federal Reserve Models Used to Estimate Post-Stress Capital Ratios.
March 2, 2018 - FOIA - Chair Yellen's calendar, January and February
March 2, 2018 - Credit and Liquidity Programs and the Balance Sheet -
Recent balance sheet trends, weekly chart update.
March 2, 2018 - Federal Advisory Council - Record of Meeting, February
9, 2018 - 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.
March 1, 2018 - OCC Releases CRA Evaluations for 17 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 February 1, 2018
through February 28, 2018.
March 1, 2018 - Understanding the Federal Reserve and Its Role in the
U.S. Economy By Alison Felix Economist and Branch Executive Federal
Reserve Bank of Kansas City Denver Branch.
March 1, 2018 - Interest on Reserves and Arbitrage in Post-Crisis Money
Markets - Thomas Keating and Marco Macchiavelli - The Federal Reserve
sets the rate paid on interest on reserves as a primary tool for
implementing monetary policy.
March 1, 2018 - Some Characteristics of the Decline in Manufacturing
Capacity Utilization - Justin Pierce and Emily Wisniewski - Capacity
utilization, defined as the ratio of actual production to maximum
sustainable production, has long been viewed as an important measure of
slack in the economy, and the Federal Reserve Board has published
capacity utilization rates for the manufacturing sector since the 1960s.
March 1, 2018 - Statistical Release - Foreign Exchange Rates -- G.5
Monthly - The table below shows the average rates of exchange in
FEBRUARY 2018 together with comparable figures for other months.
March 1, 2018 - Fed prepares for next phase of payments security effort
as Secure Payments Task Force concludes - The Secure Payments Task Force
will conclude its efforts in March with a final publication consisting
of a collection of educational materials outlining the lifecycles and
security profiles of today's primary payment methods, the Federal
Reserve announced on Thursday.
March 1, 2018 - FTC, NCUA Facebook Event Will Discuss Guarding Against
Popular Financial Scams - Facebook Live is Part of National Consumer
Protection Week Activities - Consumers can learn more about protecting
their identity and money from popular financial scams during a live
event hosted on the National Credit Union Administration’s Facebook
March 1, 2018 - NCUA Issues First Quarter Newsletter - The latest issue
of The NCUA Report features a column from NCUA Board Chairman J. Mark
McWatters as well as articles from several NCUA offices on the agency’s
initiatives and information on regulatory, supervisory, and compliance
issues affecting federally insured credit unions.
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