The E-mail Banking News
(Bank Regulatory News)
May 2013

May 31, 2013 - NCUA - NCP Community Development Closes, Shares Assumed by Chartway - The National Credit Union Administration today liquidated NCP Community Development Federal Credit Union of Norfolk, Va. Chartway Federal Credit Union of Virginia Beach, Va., assumed NCP’s member shares. www.ncua.gov/News/Pages/NW20130531NCP.aspx

May 31, 2013 - NCUA - First Kingdom Community Closes; Shares Assumed by Riverdale Credit Union - Member Deposits Remain Protected up to $250,000 by the Share Insurance Fund - The National Credit Union Administration today announced the liquidation of the First Kingdom Community Credit Union of Selma, Ala. www.ncua.gov/News/Pages/NW20130531Kingdom.aspx

May 31, 2013 - OCC Issues Third Quarter CRA Exam Schedule - The Office of the Comptroller of the Currency today released its schedule of Community Reinvestment Act examinations to be conducted in the third quarter of 2013. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-89.html

May 31, 2013 - Independent Foreclosure Review Payments Exceed $2.3 Billion - More than 2.6 million people have cashed or deposited more than $2.3 billion in checks related to the Independent Foreclosure Review Payment Agreement through May 30, 2013. www.occ.gov/news-issuances/news-releases/2013/nr- occ-2013-88.html

May 31, 2013 - North Shore Bank, FSB, Brookfield, Wisconsin, Assumes All of the Deposits of Banks of Wisconsin, Kenosha, Wisconsin - Banks of Wisconsin, Kenosha, Wisconsin, was closed today by the Wisconsin Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with North Shore Bank, FSB, Brookfield, Wisconsin, to assume all of the deposits of Banks of Wisconsin. www.fdic.gov/news/news/press/2013/pr13046.html

May 31, 2013 - FDIC Announces Settlements With First California Bank, Westlake Village, California, and Achieve Financial Services, LLP, Austin, Texas - The Federal Deposit Insurance Corporation announced settlements with First California Bank, Westlake Village, California, and Achieve Financial Services, LLP, Austin, Texas, for unfair and deceptive practices in violation of Section 5 of the Federal Trade Commission Act and violations of the Treasury Rule, 31 C.F.R. § 210, governing the use of the Automated Clearing House system to deliver federal benefit payments to prepaid debit cards. www.fdic.gov/news/news/press/2013/pr13045.html

May 31, 2013 - FDIC Makes Public April Enforcement Actions; No Administrative Hearings Scheduled for June 2013 - The Federal Deposit Insurance Corporation today released a list of orders of administrative enforcement actions taken against banks and individuals in April. No administrative hearings are scheduled for June 2013. www.fdic.gov/news/news/press/2013/pr13044.html

May 31, 2013 - Bank Holding Company/Savings and Loan Holding Companies/Change in Control.   www.federalreserve.gov/bankinforeg/LegalInterpretations/bhc_changeincontrol2013.htm

May 31, 2013 - Advisory Councils - Records of the meetings of the Federal Advisory Council.   www.federalreserve.gov/aboutthefed/fac-20130517.pdf

May 31, 2013 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm
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50 Years - This weekend I celebrate 50 years in the community banking industry.  The vast majority of my time has been spent as a bank examiner or an independent bank auditor where I have specialized in IT security for financial institutions.  I have been fortunate to have worked with some extremely intelligent auditors and bankers who have been my mentors over these 50 years.  They know who they are, and I wish to thank them for helping me to become the very best in my profession.  R. Kinney Williams

May 31, 2013 - FDIC Makes Public April Enforcement Actions; No Administrative Hearings Scheduled for June 2013 - The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in April. No administrative hearings are scheduled for June 2013. http://www.fdic.gov/news/news/press/2013/pr13044.html

May 30, 3013 - Federal Reserve Board issues enforcement actions with Commerce Bank and Trust Holding Company Employee Stock Ownership Plan, Commerce Bank and Trust Holding Company, and Riverview Bancorp, Inc. and termination of enforcement actions. http://www.federalreserve.gov/newsevents/press/enforcement/20130530a.htm

May 30, 2013 - The Federal Deposit Insurance Corporation (FDIC) has issued the public list of institutions that it has scheduled for a Community Reinvestment Act (CRA) examination during the third quarter of 2013. http://www.fdic.gov/news/news/press/2013/pr13043.html

May 30, 3013 - FDIC Announces Upcoming Community Affairs Webinar: Finding Community Development Opportunities. http://www.fdic.gov/news/news/financial/2013/fil13021.html

May 30, 3013 - In an essay from the Federal Reserve Bank of St. Louis’ new Center for Household Financial Stability, the authors provide data on the damage to household wealth during the Great Recession, explore the circumstances that led to large declines in household wealth, make the case that such wealth has not fully recovered and show why all of that matters for U.S. economic recovery. http://www.stlouisfed.org/newsroom/displayNews.cfm?article=1801

May 30, 2013 - The National Credit Union Administration (NCUA) today released a new video showcasing the programs of the Office of Small Credit Union Initiatives (OSCUI) that assist small and low-income designated credit unions in meeting the evolving financial needs of their members and communities. http://www.ncua.gov/News/Pages/NW20130530Video.aspx

May 30, 2013 - Federally insured credit unions experienced a decline in delinquencies and charge-offs in the first quarter of 2013, while loans grew faster than in any first quarter since 2008, the National Credit Union Administration reported today. The data reflect continuing overall improvement in the credit union industry’s performance. http://www.ncua.gov/News/Pages/NW20130530PACAFacts.aspx

May 29, 2013 - Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reported aggregate net income of $40.3 billion in the first quarter of 2013, a $5.5 billion (15.8 percent) increase from the $34.8 billion in profits that the industry reported in the first quarter of 2012. http://www.fdic.gov/news/news/press/2013/pr13042.html

May 29, 2013 - The National Credit Union Administration’s Office of Small Credit Union Initiatives webinar, “Driving the Bottom Line: Results through Marketing,” is now available online.  http://www.ncua.gov/News/Pages/NW20130529MarketingWebinar.aspx

May 28, 2013 - The Federal Reserve Board on Tuesday released the minutes of its discount rate meetings of April 8 and April 29, 2013.
http://www.federalreserve.gov/newsevents/press/monetary/20130528a.htm

May 24, 2013 - Independent Foreclosure Review Payments Near $2.3 Billion - More than 2.5 million people have cashed or deposited nearly $2.3 billion in checks related to the Independent Foreclosure Review Payment Agreement through May 23, 2013.  http://www.occ.treas.gov/news-issuances/news-releases/2013/nr-occ-2013-87.html

May 24, 2013 - St. Louis Fed Study Shows Community Bank Model Can Thrive In Good Times and In Bad - A new study from the Federal Reserve Bank of St. Louis shows a surprising number of the nation’s community banks not only survived the financial crisis - they thrived. http://www.stlouisfed.org/newsroom/displayNews.cfm?article=1698

May 24, 2013 - The National Credit Union Administration (NCUA) yesterday returned control of the Arrowhead Central Credit Union to its members. The largest credit union in California’s Inland Empire became the first credit union since 2007 to emerge from NCUA conservatorship.  http://www.ncua.gov/News/Pages/NW20130524Arrowhead.aspx
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May 23, 2013 - St. Louis Fed’s Bullard Discusses Monetary Policy in a Low Policy Rate Environment - Federal Reserve Bank of St. Louis President James Bullard gave remarks Thursday on “Monetary Policy in a Low Policy Rate Environment” at the Official Monetary and Financial Institutions Forum Golden Series Lecture. www.stlouisfed.org/newsroom/displayNews.cfm?article=1796

May 23, 2013 - Do Central Banks’ Forecasts Take Into Account Public Opinion and Views? - Ricardo Nunes - The Federal Reserve through the Federal Open Market Committee regularly releases macroeconomic forecasts to the general public and the US congress with the purpose of explaining the likely evolution of the economy and the appropriate stance of monetary policy. Immediately before doing so, the FOMC receives a forecast produced by the Federal Reserve staff which remains private for five years. www.federalreserve.gov/pubs/ifdp/2013/1080/ifdp1080.pdf

May 23, 2013 - 99th Annual Report - 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/default.htm

May 23, 2013 - Annual Report: Budget Review - Reports on the current budgeted expenses of the Board of Governors and the Federal Reserve Banks. The previous year's income and expenses are also discussed. Describes the budgeting process for the Board and Banks and shows trends in expenses and employment. www.federalreserve.gov/publications/budget-review/default.htm

May 23, 2013 - Exemption for small debit card issuers from interchange fee standards working as intended - The exemption designed to protect small debit card issuers from interchange fee standards applied to large issuers is working as intended, a Federal Reserve Board report released Thursday showed. www.federalreserve.gov/newsevents/press/bcreg/20130523a.htm

May 23, 2013 - NCUA - Electrical Workers #527 Federal Credit Union Closes - The National Credit Union Administration today liquidated Electrical Workers #527 Federal Credit Union of Texas City, Texas. www.ncua.gov/News/Pages/NW20130523ElectricalWorkers.aspx

May 23, 2013 - May NCUA Economic Update Now Available - The National Credit Union Administration released its May economic update today on the agency’s official YouTube channel. In the latest installment of the series, NCUA Chief Economist John Worth provides a brief synopsis of recent economic trends that point to a moderately growing economy. www.ncua.gov/News/Pages/NW20130523EconomicUpdate.aspx

May 22, 2013 - Reginald W. Coopwood, M.D. Joins St. Louis Fed’s Health Care Industry Council - Reginald W. Coopwood, M.D., president and chief executive officer of The Regional Medical Center, Memphis, Tenn., has been named to the Health Care Industry Council of the Federal Reserve Bank of St. Louis. www.stlouisfed.org/newsroom/displayNews.cfm?article=1795

May 22, 2013 - FDIC Consumer Newsletter Features Tips on Banking in a High-Tech World - Other Topics Include Debt Collection, Branch Closings, Bank Mergers, and Buying a CD from a Broker - New technology can dramatically change the way that people manage and save money. To help consumers learn more about banking in a high-tech world, the Spring 2013 issue of FDIC Consumer News features practical tips on how to reap the benefits and avoid potential problems. www.fdic.gov/news/news/press/2013/pr13041.html

May 22, 2013 - Analyzing Federal Reserve Asset Purchases: From whom does the Fed buy? - Seth Carpenter, Selva Demiralp, Jane Ihrig, and Elizabeth Klee -Asset purchases have become an important monetary policy tool of the Federal Reserve in recent years. To date, most studies of the Federal Reserve's asset purchases have tried to measure the interest rate effects of the policies. www.federalreserve.gov/pubs/feds/2013/201332/201332pap.pdf

May 22, 2013 - Credit-crunch dynamics with uninsured investment risk - Jonathan E. Goldberg - I study the effects of credit tightening in an economy with uninsured idiosyncratic investment risk. In the model, entrepreneurs require an equity premium because collateral constraints limit insurance. www.federalreserve.gov/pubs/feds/2013/201331/201331pap.pdf

May 22, 2013 - Minutes of the Federal Open Market Committee - The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on April 30-May 1, 2013. www.federalreserve.gov/newsevents/press/monetary/20130522a.htm

May 22, 2013 - Chairman Ben S. Bernanke - The Economic Outlook - Before the Joint Economic Committee, U.S. Congress, Washington, D.C. www.federalreserve.gov/newsevents/testimony/bernanke20130522a.htm

May 22, 2013 - Equity Extraction and Mortgage Default - Steven Laufer - Using a property-level data set of houses in Los Angeles County, I estimate that 30% of the recent surge in mortgage defaults is attributable to early home-buyers who would not have defaulted had they not borrowed against the rising value of their homes during the boom. www.federalreserve.gov/pubs/feds/2013/201330/201330pap.pdf

May 22, 2013 - OCC Encourages National Banks and Federal Savings Associations to Work With Customers Affected by the Oklahoma Tornadoes.   www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-86.html

May 21, 2013 - Payment Systems - National Settlement Service --Quarterly. www.federalreserve.gov/paymentsystems/natl_qtr.htm

May 21, 2013 - Payment Systems - Fedwire Securities Service--Quarterly. www.federalreserve.gov/paymentsystems/fedsecs_qtr.htm

May 21, 2013 - Payment Systems - Fedwire Funds Service--Quarterly.  www.federalreserve.gov/paymentsystems/fedfunds_qtr.htm

May 21, 2013 - Federal Reserve Board announces termination of enforcement action with The Tysan Corporation.   www.federalreserve.gov/newsevents/press/enforcement/20130521a.htm

May 21, 2013 - Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Oklahoma Affected by Severe Storms and Tornadoes.   www.fdic.gov/news/news/financial/2013/fil13020.html

May 21, 2013 - St. Louis Fed’s Bullard Discusses Monetary Policy Options in a Low Policy Rate Environment.   www.stlouisfed.org/newsroom/displayNews.cfm?article=1790

May 21, 2013 - High Frequency Trading Recommendations - Chicago Fed paper summarizes research on high frequency trading strategies and makes recommendations for changes. www.chicagofed.org/webpages/publications/policy_discussion_papers/2013/pdp_1.cfm

May 21, 2013 - NCUA Grant Initiative to Provide More than $1 Million to Low-Income Credit Unions.   www.ncua.gov/News/Pages/NW20130521MillionGrant.aspx

May 20, 2013 - Kansas City Fed announces officer promotion and appointment.  www.kc.frb.org/publicat/newsroom/2013pdf/press.release.05.20.13.pdf

May 20, 2013 - Filing Procedures for Annual Independent Audits and Reports Required Under Federal Deposit Insurance Corporation Rules.   www.federalreserve.gov/bankinforeg/srletters/sr1311.htm

May 20, 2013 - Regulatory Reform - Communications with the public through May 20, 2013.  www.federalreserve.gov/newsevents/reform_meetings.htm

May 17, 2013 - Midwest Farmland Values Still Rising - According to the most recent AgLetter, Seventh District farmland values in the first quarter of 2013 were 15 percent higher than a year ago. Values for “good” agricultural land in the first quarter of 2013 were 4 percent higher than in the fourth quarter of 2012. www.chicagofed.org/digital_assets/publications/agletter/2010_2014/may_2013.pdf

May 17, 2013 - Independent Foreclosure Review Payments Approach $2.2 Billion - More than 2.4 million checks related to the Independent Foreclosure Review have been cashed or deposited for nearly $2.2 billion through May 16, 2013. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-85.html

May 17, 2013 - 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/2013/nr-occ-2013-84.html

May 17, 2013 - Charge-Off and Delinquency Rates on Loans and Leases at Commercial Banks.  www.federalreserve.gov/releases/chargeoff/

May 17, 2013 - Section 19 Letters - January 3 - April 17, 2013 - Orders Issued under the Bank Merger Act, Federal Deposit Insurance Act, Federal Reserve Act, and International Banking Act, 2013.  www.federalreserve.gov/bankinforeg/legaldevelopments/ordersother2013.htm#19713

May 17, 2013 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

May 17, 2013 - Guidance on the Use of 2010 Census Data in Fair Lending Examinations.  www.federalreserve.gov/bankinforeg/caletters/caltr1308.htm

May 17, 2013 - Section 19 Letters - November 8 - December 18, 2012 - Orders Issued under the Bank Merger Act, Federal Deposit Insurance Act, Federal Reserve Act, and International Banking Act, 2012.  www.federalreserve.gov/bankinforeg/legaldevelopments/ordersother2012.htm#17093

May 17, 2013 - Proposal to approve under OMB delegated authority the extension for three years, with minor revision, of the following reports: FR 2046, FR 3067.  www.federalreserve.gov/apps/foia/proposedregs.aspx#icp

May 17, 2013 - Federal Reserve Board issues enforcement action with Bank of Montreal, BMO Financial Corp., and Bank of Montreal Chicago Branch.   www.federalreserve.gov/newsevents/press/enforcement/20130517a.htm
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May 16, 2013 - Midwest Farmland Values Still Rising - Latest AgLetter reports farmland values in the first quarter of 2013 were 15 percent higher than a year ago. www.chicagofed.org/digital_assets/publications/agletter/2010_2014/may_2013.pdf

May 16, 2013 - St. Louis Fed President James Bullard Will Speak at Official Monetary and Financial Institutions Forum in London.   www.stlouisfed.org/newsroom/displayNews.cfm?article=1787

May 16, 2013 - Governor Sarah Bloom Raskin - Prospects for a Stronger Recovery - At the Society of Government Economists and the National Economists Club, Washington, D.C.  www.federalreserve.gov/newsevents/speech/raskin20130516a.htm

May 16, 2013 - NCUA Places First Kingdom Community Federal Credit Union into Conservatorship.   www.ncua.gov/News/Pages/NW20130516FirstKingdom.aspx

May 16, 2013 - NCUA - May 2013 Board Meeting: Board Proposes Limited Derivatives Authority to Manage Interest-Rate Risk.   www.ncua.gov/about/Pages/Board%20Actions/BAB20130516.aspx

May 15, 2013 - St. Louis Fed Ag Survey Shows Farm Income, Spending Rose in First Quarter - While first quarter 2013 farm income and capital spending were higher than expected across the Midwest and Mid-South than first quarter 2012, agricultural lenders remained cautious in their expectations for the year ahead amid risks posed by ongoing weakness in the U.S. economy and higher producer input costs, according to the latest Agricultural Finance Monitor published by the Federal Reserve Bank of St. Louis. www.stlouisfed.org/newsroom/displayNews.cfm?article=1785

May 15, 2013 - Regulatory Relief - Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Illinois Affected by Severe Storms, Straight-Line Winds, and Flooding - The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Illinois affected by severe storms, straight-line winds, and flooding. www.fdic.gov/news/news/financial/2013/fil13019.html

May 15, 2013 - The History of Cyclical Macroprudential Policy in the United States - Douglas J. Elliott, Greg Feldberg, and Andreas Lehnert - Since the financial crisis of 2007-2009, policymakers have debated the need for a new toolkit of cyclical "macroprudential" policies to constrain the build-up of risks in financial markets, for example, by dampening credit-fueled asset bubbles.  www.federalreserve.gov/pubs/feds/2013/201329/201329pap.pdf

May 15, 2013 - Report to the Congress - Government Performance and Results Act Annual Performance Report 2012.   www.federalreserve.gov/publications/gpra/files/2012-gpra-performance-report.pdf

May 15, 2013 - Michael S. Gibson, Director, Division of Banking Supervision and Regulation - Cross-Border Resolution - Before the Subcommittee on National Security and International Trade and Finance, Committee on Banking, Housing, and Urban Affair, U.S. Senate, Washington, D.C. www.federalreserve.gov/newsevents/testimony/gibson20130515a.htm

May 14, 2013 - NCUA Issues 2012 Annual Report - ?Report Reflects on Transformative Year for the Credit Union Industry and Agency - The National Credit Union Administration today issued its Annual Report, which highlights the agency’s activities and accomplishments in 2012. www.ncua.gov/News/Pages/NW20130514AnnualReport.aspx

May 14, 2013 - St. Louis Fed President James Bullard Will Speak at Institute for Monetary and Financial Stability in Frankfurt.   www.stlouisfed.org/newsroom/displayNews.cfm?article=1783

May 13, 2013 - FDIC Advisory Committee to Discuss 2013 Economic Inclusion Priorities - The Federal Deposit Insurance Corporation Advisory Committee on Economic Inclusion will meet on Thursday, May 16, 2013, to discuss the FDIC's 2013 economic inclusion priorities. The meeting will feature a panel discussion on Safe Accounts and prepaid cards. www.fdic.gov/news/news/press/2013/pr13039.html

May 13, 2013 - Regulatory Reform - Communications with the public through May 13, 2013.  www.federalreserve.gov/newsevents/reform_meetings.htm

May 13, 2013 - Federal Reserve Board announces that results of company-run, midyear stress tests are due on July 5 - Eighteen large U.S. bank holding companies are required to submit the results of their company-run, midyear stress tests to the Federal Reserve on July 5, the Federal Reserve said in instructions to those firms Monday. www.federalreserve.gov/newsevents/press/bcreg/20130513a.htm

May 10, 2013 - The NCUA Report for May 2013 Now Available - The NCUA Report is NCUA’s flagship publication that highlights important NCUA Board actions and key issues that credit union volunteers and management need to know. It is a one-stop resource to learn not just the “what” but also the “why” behind NCUA’s actions. www.ncua.gov/News/NewsLtrs/Pages/default.aspx

May 10, 2013 - Independent Foreclosure Review Payments Exceed $2 Billion - More than 2.2 million people have cashed or deposited more than $2 billion in checks related to the Independent Foreclosure Review Payment Agreement through May 9, 2013. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-83.html

May 10, 2013 - Capital Bank, National Association, Rockville, Maryland, Assumes All of the Deposits of Pisgah Community Bank, Asheville, North Carolina - Pisgah Community Bank, Asheville, North Carolina, was closed today by the North Carolina Office of the Commissioner of Banks, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Capital Bank, National Association, Rockville, Maryland, to assume all of the deposits of Pisgah Community Bank. www.fdic.gov/news/news/press/2013/pr13037.html

May 10, 2013 - Estate vs. Capital Gains Taxation: An Evaluation of Prospective Policies for Taxing Wealth at the Time of Death - Robert B. Avery, Daniel Grodzicki, and Kevin B. Moore - Debate over the U.S. federal estate tax has intensified recently as a result of the sunset provisions in the Economic Growth and Tax Relief Reconciliation Act of 2001 and changes in law passed in conjunction with the "fiscal cliff" at the end of 2012.  www.federalreserve.gov/pubs/feds/2013/201328/201328pap.pdf

May 10, 2013 - Declining Migration Within the US: The Role of the Labor Market - Raven Molloy, Christopher L. Smith, and Abigail Wozniak - We examine explanations for the secular decline in interstate migration since the 1980s. After showing that demographic and socioeconomic factors can account for little of this decrease, we present evidence suggesting that it is related to a downward trend in labor market transitions--i.e. a decline in the fraction of workers moving from job to job, changing industry, and changing occupation--that occurred over the same period. www.federalreserve.gov/pubs/feds/2013/201327/201327pap.pdf

May 10, 2013 - The Long and the Short of Household Formation - Andrew D. Paciorek - One of the drivers of housing demand is the rate of new household formation, which has been well below trend in recent years, leading to persistent weakness in the housing market. This paper studies the determinants of household formation in the United States, including demographic and behavioral changes, and how they evolve over the long and short runs. www.federalreserve.gov/pubs/feds/2013/201326/201326pap.pdf

May 10, 2013 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

May 10, 2013 - Chairman Ben S. Bernanke - Monitoring the Financial System - At the 49th Annual Conference on Bank Structure and Competition sponsored by the Federal Reserve Bank of Chicago, Chicago, Illinois.  www.federalreserve.gov/newsevents/speech/bernanke20130510a.htm
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May 9, 2013 - Comptroller Discusses Bank Supervision in Chicago - Comptroller of the Currency Thomas J. Curry today discussed bank supervision after the financial crisis during his speech at the 49th Annual Conference on Bank Structure and Competition.  www.occ.gov/news-issuances/speeches/2013/pub-speech-2013-82.pdf

May 9, 2013 - Thomas Gerstle Joins St. Louis Fed’s Transportation Industry Council - Thomas Gerstle, chief executive officer of Road & Rail Services, Inc., Louisville, Ky., has been named to the Transportation Industry Council of the Federal Reserve Bank of St. Louis. www.stlouisfed.org/newsroom/displayNews.cfm?article=1779

May 9, 2013 - Banker Teleconference on FASB Proposal to Change the Accounting for Credit Losses - The Financial Accounting Standards Board has issued a proposed Accounting Standards Update that would change recognition and measurement of credit losses for financial and regulatory reporting purposes. www.fdic.gov/news/news/financial/2013/fil13018.html

May 9, 2013 - FOIA Reading Room - 2013 Board budget memo.  www.federalreserve.gov/foia/readingrooms.htm

May 9, 2013 - Governor Elizabeth A. Duke - A View from the Federal Reserve Board: The Mortgage Market and Housing Conditions At the Housing Policy Executive Council, Washington, D.C. www.federalreserve.gov/newsevents/speech/duke20130509a.htm

May 9, 2013 - NCUA - Agenda for the 05/16/2013 NCUA Board Meeting is Available.  www.ncua.gov/about/Pages/Agendas/AG20130516.aspx

May 8, 2013 - Financial Conditions Tighten Slightly in Week Ending May 3 - The NFCI edged up to -0.77 in the week ending May 3, indicating slightly tighter financial conditions. The credit and leverage subindexes increased from the previous week, while the risk and nonfinancial leverage subindexes were unchanged. www.chicagofed.org/webpages/research/data/nfci/background.cfm

May 8, 2013 - NCUA Hosting Webinar on the Agency’s Grant Initiatives - The National Credit Union Administration Office of Small Credit Union Initiatives, is hosting a free webinar, “Multi-Initiative Grants for Low Income Credit Unions,” on Wednesday, May 22, at 2 p.m. Eastern. www.ncua.gov/News/Pages/NW20130508GrantsWebinar.aspx

May 8, 2013 - May 23 Dialogue To Focus on Household Financial Stability - The Federal Reserve Bank of St. Louis will present "After the Fall: Rebuilding Family Balance Sheets, Rebuilding the Economy," as part of its next Dialogue with the Fed: Beyond Today's Financial Headlines evening lecture series on Thursday, May, 23, 2013. www.stlouisfed.org/newsroom/displayNews.cfm?article=1776

May 8, 2013 - The Nature of Countercyclical Income Risk - Fatih Guvenen, Serdar Ozkan, and Jae Song - This paper studies the nature of business cycle variation in individual earnings risk using a dataset from the U.S. Social Security Administration, which contains earnings histories for millions of anonymous individuals. The base sample is a nationally representative panel containing 10 percent of all U.S. males from 1978 to 2010. www.federalreserve.gov/pubs/feds/2013/201325/201325pap.pdf

May 8, 2013 - The Informational Content of the Embedded Deflation Option in TIPS - Olesya V. Grishchenko, Joel M. Vanden, and Jianing Zhang - In this paper we estimate the value of the embedded option in U.S. Treasury Inflation Protected Securities. The option value exhibits significant time variation that is correlated with periods of deflationary expectations. www.federalreserve.gov/pubs/feds/2013/201324/201324pap.pdf

May 7, 2013 - OCC Releases CRA Evaluations for 25 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 April 1, 2013 through April 30, 2013. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-81.html

May 7, 2013 - Consumer credit increased at a seasonally adjusted annual rate of 5-3/4 percent during the first quarter. Revolving credit was little changed, while nonrevolving credit increased at an annual rate of 8 percent. In March, consumer credit increased at an annual rate of 3-1/2 percent. www.federalreserve.gov/releases/g19/current/default.htm

May 7, 2013 - Quarterly Data Updates: Commercial Check Collected, Commercial Checks Returned, Government Check Processed, and Postal Money Orders Processed.  www.federalreserve.gov/paymentsystems/check_data.htm

May 7, 2013 - Federal Reserve Board announces termination of enforcement action with Greer Bancshares Incorporated.   www.federalreserve.gov/newsevents/press/enforcement/20130507a.htm

May 6, 2013 - $1 Coin Quarterly Inventories, Payments, and Receipts.  www.federalreserve.gov/paymentsystems/coin_data.htm

May 6, 2013 - Senior Loan Officer Opinion Survey on Bank Lending Practices - The April 2013 Senior Loan Officer Opinion Survey on Bank Lending Practices addressed changes in the supply of, and demand for, bank loans to businesses and households over the past three months. This summary is based on responses from 68 domestic banks and 21 U.S. branches and agencies of foreign banks. www.federalreserve.gov/boarddocs/SnLoanSurvey/201305/default.htm

May 6, 2013 - OCC Hosts Mutual Savings Association Advisory Committee Meeting - The Office of the Comptroller of the Currency today announced it will host the second public meeting of the Mutual Savings Association Advisory Committee on Monday, June 17, 2013 in Washington, DC. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-80.html

May 6, 2013 - 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/2013/pr13036.html

May 6, 2013 - Surveys and Reports - Senior Loan Officer Opinion Survey on Bank Lending Practices - The April 2013 Senior Loan Officer Opinion Survey on Bank Lending Practices addressed changes in the supply of, and demand for, bank loans to businesses and households over the past three months. This summary is based on responses from 68 domestic banks and 21 U.S. branches and agencies of foreign banks. www.federalreserve.gov/boarddocs/snloansurvey/201305/default.htm

May 6, 2013 - Regulatory Reform - Communications with the public through May 6, 2013.  www.federalreserve.gov/newsevents/reform_meetings.htm

May 3, 2013 - NCUA - Lynrocten Federal Credit Union Closes - The National Credit Union Administration today liquidated Lynrocten Federal Credit Union of Lynchburg, Va. www.ncua.gov/News/Pages/NW20130503Lynrocten.aspx

May 3, 2013 - Independent Foreclosure Review Payments Near $1.7 Billion - More than 1.8 million people have cashed or deposited nearly $1.7 billion in checks related to the Independent Foreclosure Review Payment Agreement through May 2, 2013. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-79.html

May 3, 2013 - Deputy Comptroller for Community Affairs Discusses CRA and Disaster Recovery - Deputy Comptroller for Community Affairs Barry Wides today discussed the importance of the Community Reinvestment Act and effective disaster recovery during a speech at an event held by the Neighborhood Housing Services of New York. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-78.html

May 3, 2013 - Kansas City Fed announces officer promotion - The following officer appointment was recently announced by Esther George, president
and chief executive officer of the Federal Reserve Bank of Kansas City: www.kc.frb.org/publicat/newsroom/2013pdf/press.release.05.03.13.pdf

May 3, 2013 - Main Street Economist explores the wealth effect in U.S. agriculture - Since 2009, wealth in the U.S. farm sector has surged along with booming farmland values. In the latest issue of the Main Street Economist, Omaha Branch Executive Jason Henderson and Nathan Kauffman, economist, explore the historical wealth effect in agriculture and what it could mean for farm debt and leverage if farm incomes fall dramatically. www.kc.frb.org/publicat/newsroom/2013pdf/press.release.05.03.13.MSE.pdf

May 3, 2013 - Taxation, Match Quality and Social Welfare - Brendan Epstein and Ryan Nunn - A large public finance literature argues that taxable income elasticities are a sufficient statistic for the social welfare consequences of taxation. We develop calibrations that show such deadweight loss calculations are overestimates proportional to the quantitative significance of heterogeneity in amenities across job matches. www.federalreserve.gov/pubs/ifdp/2013/1079/ifdp1079.pdf

May 3, 2013 - Early Withdrawals from Retirement Accounts During the Great Recession - Robert Argento, Victoria L. Bryant, and John Sabelhaus - Early withdrawals from retirement accounts are a double-edged sword, because withdrawals reduce retirement resources, but they also allow individuals to smooth consumption when they experience demographic and economic shocks. www.federalreserve.gov/pubs/feds/2013/201322/201322pap.pdf

May 3, 2013 - Made Poorer by Choice: Worker Outcomes in Social Security v. Private Retirement Accounts - Javed I. Ahmed, Brad M. Barber, and Terrance Odean - Can the freedom to choose how retirement funds are invested leave workers worse off? We analyze social risks of allowing choice, using the Social Security system as an example. www.federalreserve.gov/pubs/feds/2013/201323/201323pap.pdf

May 3, 2013 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

May 3, 2013 - Governor Daniel K. Tarullo - Evaluating Progress in Regulatory Reforms to Promote Financial Stability - At the Peterson Institute for International Economics, Washington, D.C. www.federalreserve.gov/newsevents/speech/tarullo20130503a.htm
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May 2, 2013 - Office of the Comptroller of the Currency Hosts Workshops in South Dakota - The Office of the Comptroller of the Currency will host two workshops in Sioux Falls, S.D., at the Holiday Inn Sioux Falls – City Centre, June 11-12, for directors of national community banks and federal savings associations. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-77.html

May 2, 2013 - Guidance for Internal Audit under the Advanced Approaches Rule - Under section 22(j)(5) of the Federal Reserve Board’s advanced approaches risk-based capital rule,1 a bank or a bank holding company “must have an internal audit function independent of business-line management that at least annually assesses the effectiveness of the controls supporting the advanced systems and reports its findings to the board of directors. www.federalreserve.gov/bankinforeg/basel/files/bcc1306.pdf

May 2, 2013 - Applying the Requirement for Conservatism to the Parameters in the Advanced Approaches - The primary objective of a bank’s or a bank holding company’s risk-parameter quantification process under the Federal Reserve Board’s advanced approaches risk-based capital
rule1 is to produce “accurate, timely, and reliable” estimates of the risk parameters. www.federalreserve.gov/bankinforeg/basel/files/bcc1305.pdf

May 2, 2013 - Guidance Statement on Implied Support - The Federal Reserve Board’s advanced approaches risk-based capital rule, in
general, does not specify whether a bank or bank holding company may recognize for capital purposes support provided to an obligor by a
third party that is not in the form of a contractual obligation, and thus, incorporate such implied support into its risk-rating systems. www.federalreserve.gov/bankinforeg/basel/files/bcc1304.pdf

May 2, 2013 - Guidance for Independent Verification of a Banking Organization's Advanced Approaches Systems.   www.federalreserve.gov/bankinforeg/basel/files/bcc1303.pdf

May 2, 2013 - Federal Reserve Board issues enforcement action with the Baraboo Bancorporation, and termination of enforcement actions with Harbor Bankshares Corporation and NorCal Community Bancorp.  www.federalreserve.gov/newsevents/press/enforcement/20130502a.htm

May 1, 2013 - Estimating the Trend Rate of Economic Growth Using the CFNAI - Scott Brave, R. Andrew Butters - This article shows how a new methodology for constructing the Chicago Fed National Activity Index can be used to identify both the cyclical and trend components of real gross domestic product growth. www.chicagofed.org/digital_assets/publications/chicago_fed_letter/2013/cfljune2013_311.pdf

May 1, 2013 - NCUA - The Federal Financial Institutions Examination Council announced today the appointment of Karen K. Lawson to the Council’s five-member State Liaison Committee. Lawson is Director of the Office of Banking within the Michigan Department of Insurance and Financial Services.   www.ncua.gov/News/Pages/FFIEC20130501Lawson.aspx

May 1, 2013 - Office of the Comptroller of the Currency Hosts Workshop in Dallas - The Office of the Comptroller of the Currency will host a workshop in Dallas at the Wyndham Dallas – Park Central, June 3-5, for directors of national community banks and federal savings associations. www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-76.html 

May 1, 2013 - Federal Reserve issues FOMC statement - Information received since the Federal Open Market Committee met in March suggests that economic activity has been expanding at a moderate pace. www.federalreserve.gov/newsevents/press/monetary/20130501a.htm