The E-mail Banking News
(Bank Regulatory News)
November 2011

November 30, 2011 - Federal Reserve Releases November 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. www.stls.frb.org/newsroom/displayNews.cfm?article=1213 

November 30, 2011 - FDIC Consumer Newsletter Offers Strategies for Building a Better Financial Future - News and Tips on Internet Banking Also Featured - Consumers have important decisions to make when it comes to managing money and saving for their future, particularly in a tough economy when every dollar counts. www.fdic.gov/news/news/press/2011/pr11186.html

November 30, 2011 - FDIC Issues First Quarter 2012 CRA Examination Schedule - The Federal Deposit Insurance Corporation has issued the public list of institutions that it has scheduled for a Community Reinvestment Act examination during the first quarter of 2012. www.fdic.gov/news/news/press/2011/pr11185.html

November 30, 2011 - Informal review by the Federal Reserve Banks of current economic conditions in their Districts.   www.federalreserve.gov/fomc/beigebook/2011/default.htm

November 30, 2011 - The Federal Reserve Board on Wednesday announced the appointment of Michael S. Gibson as director of the Division of Banking Supervision and Regulation, effective January 1, 2012. www.federalreserve.gov/newsevents/press/other/20111130a.htm

November 30, 2011 - The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve, and the Swiss National Bank are today announcing coordinated actions to enhance their capacity to provide liquidity support to the global financial system.   www.federalreserve.gov/newsevents/press/monetary/20111130a.htm 

November 29, 2011 - NCUA Continues to Seek Recoveries, Files Suit Against Wachovia - The National Credit Union Administration has filed suit in Federal District Court in Kansas against Wachovia and its subsidiaries. The suit alleges violations of federal and state securities laws and misrepresentations in the sale of securities to now-failed U.S. Central Federal Credit Union and Western Corporate Federal Credit Union.   www.ncua.gov/News/Pages/NW20111129Wachovia.aspx

November 29, 2011 - OCC Proposes Rule to Remove References to Credit Ratings and Guidance on Due Diligence Requirements in Determining Whether Investment Securities Are Eligible for Investment.  www.occ.gov/news-issuances/news-releases/2011/nr-occ-2011-140.html

November 29, 2011 - Aging and Strategic Learning: The Impact of Spousal Incentives on Financial Literacy - Joanne W. Hsu -American women tend to be less financially literate than men, which is consistent with a household division of labor in which men manage finances. However, women also tend to outlive their husbands, so they will eventually need to take over this task. www.federalreserve.gov/pubs/feds/2011/201153/201153pap.pdf

November 29, 2011 - Vice Chair Janet L. Yellen - Aggregate Demand and the Global Economic Recovery - At the Federal Reserve Bank of San Francisco, San Francisco, California.  www.federalreserve.gov/newsevents/speech/yellen20111129a.htm

November 29, 2011 - Harvard College won the eighth annual national College Fed Challenge on Tuesday. The team from Cambridge, Mass. represented the Federal Reserve Bank of Boston and included Anirudha Balasubramanian, Sumit Malik, Andreas Schaab, Benjamin Sprung-Keyser, James Sun, Justin Katiraei, and faculty adviser Benjamin Friedman. www.federalreserve.gov/newsevents/press/other/20111129a.htm

November 29, 2011 - Minutes of Board discount rate meetings from October 3 through October 31, 2011.   www.federalreserve.gov/newsevents/press/monetary/20111129a.htm

November 29, 2011 - Federal Reserve Board issues enforcement action with First State Bank of DeQueen.   www.federalreserve.gov/newsevents/press/enforcement/20111129a.htm

November 28, 2011 - 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 updates on interest rate and liquidity risk, money market mutual funds, residential mortgage and fraud topics www.chicagofed.org/webpages/publications/risk_perspectives/2011_2014/2011_quarter_three.cfm

November 28, 2011 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm 

November 28, 2011 - The Federal Reserve Board on Monday announced its approval of the application by The Croghan Colonial Bank, a wholly owned subsidiary of Croghan Bancshares, Inc., both of Fremont, to acquire four branches from The Home Savings and Loan Company of Youngstown, Ohio, Youngstown, all of Ohio. www.federalreserve.gov/newsevents/press/orders/20111128b.htm

November 28, 2011 - The Federal Reserve Board on Monday announced its approval of the application of Goering Management Company, LLC and its subsidiaries, Goering Financial Holding Company Partnership, L.P. and Bon, Inc., all of Moundridge, to acquire Home State Bancshares, Inc. and thereby indirectly acquire Home State's wholly owned subsidiary bank, Home State Bank & Trust Company, both of McPherson, all of Kansas. www.federalreserve.gov/newsevents/press/orders/20111128a.htm
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November 23, 2011 - Federal Bank of Kansas City Announces Officer Appointment - 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/2011pdf/press.release.11.23.11.pdf 

November 23, 2011 - Seminar on Commercial Real Estate Loan Workouts and Related Accounting Issues - The FDIC will host a free telephone seminar to discuss prudent commercial real estate loan workouts and related accounting issues, including the treatment for troubled debt restructurings. The seminar will be held from 1:00 to 2:30 p.m. EST on December 15, 2011. Employees of all FDIC-supervised institutions are invited to participate. www.fdic.gov/news/news/financial/2011/fil11071.html

November 23, 2011 - Housing and Debt Over the Life Cycle and Over the Business Cycle - Matteo Iacoviello and Marina Pavan - We study housing and debt in a quantitative general equilibrium model. In the cross-section, the model matches the wealth distribution, the age pro.les of homeownership and mortgage debt, and the frequency of housing adjustment. In the time-series, the model matches the procyclicality and volatility of housing investment, and the procyclicality of mortgage debt. www.federalreserve.gov/pubs/ifdp/2011/1032/ifdp1032.pdf 

November 23, 2011 - Federal Reserve SystemMonthly Report on Credit and Liquidity Programs and the Balance Sheet.   www.federalreserve.gov/files/monthlyclbsreport201111.pdf 

November 23, 2011 - Federal Reserve Board announces approval of application by Green Dot Corporation to acquire Bonneville Bancorp.   www.federalreserve.gov/newsevents/press/orders/20111123a.htm

November 22, 2011 - 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 updates on interest rate and liquidity risk, money market mutual funds, residential mortgage and fraud topics. www.chicagofed.org/webpages/publications/risk_perspectives/2011_2014/2011_quarter_three.cfm 

November 22, 2011 - OCC Releases Status Report on Fixing Deficient Foreclosure Practices - The Office of the Comptroller of the Currency issued a report today on the actions by 12 national bank and federal savings association mortgage servicers to comply with consent orders issued in April 2011 to correct deficient and unsafe or unsound foreclosure practices. www.occ.gov/news-issuances/news-releases/2011/nr-occ-2011-139.html

November 22, 2011 - Dialogue with the Fed: Beyond Today’s Headlines - The final event of the St. Louis Fed's fall evening series was held Nov, 21, 2011 and featured Christopher Waller, senior vice president and director of research for the St. Louis Fed. Waller spoke on "Understanding the Unemployment Picture," and video of the program will be posted here shortly. www.stls.frb.org/newsroom/displayNews.cfm?article=1126 

November 22, 2011 - FDIC-Insured Institutions Earned $35.3 Billion in The Third Quarter of 2011 - Improving Asset Quality Remained the Key to Earnings Growth; "Problem List" Declined for Second - Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reported an aggregate profit of $35.3 billion in the third quarter of 2011, an $11.5 billion improvement from the $23.8 billion in net income the industry reported in the third quarter of 2010. This is the ninth consecutive quarter that earnings registered a year-over-year increase. www.fdic.gov/news/news/press/2011/pr11182.html

November 22, 2011 - Charge-Off and Delinquency Rates on Loans and Leases at Commercial Banks.  www.federalreserve.gov/releases/chargeoff/ 

November 22, 2011 - The Federal Reserve Board and the Federal Open Market Committee on Tuesday released the attached minutes of the Committee meeting held on November 1-2, 2011. A summary of economic projections made by Federal Reserve Board members and Reserve Bank presidents for the November 1-2, 2011 meeting is also included as an addendum to these minutes. www.federalreserve.gov/newsevents/press/monetary/20111122a.htm

November 22, 2011 - The Federal Reserve Board on Tuesday issued a final rule requiring top-tier U.S. bank holding companies with total consolidated assets of $50 billion or more to submit annual capital plans for review. www.federalreserve.gov/newsevents/press/bcreg/20111122a.htm 

November 22, 2011 - The Federal Reserve Board issues enforcement actions with Mountain National Bancshares, Inc. and Tennessee Commerce Bancorp, Inc. www.federalreserve.gov/newsevents/press/enforcement/20111122a.htm

November 21, 2011 - An Uneven Recovery: The Chicago and Milwaukee Labor Markets - In a blog posting, Chicago Fed economists Scott Brave and Max Lichtenstein examine the manufacturing industry's impact on jobs in these cities. http://midwest.chicagofedblogs.org/archives/2011/11/lichtenstein_an.html 

November 21, 2011 - Comment Period Re-Opened Regarding Capital One Proposed Purchase of HSBC Credit Card Portfolio - The Office of the Comptroller of the Currency is re-opening the comment period related to the Bank Merger Act application filed by Capital One, National Association, McLean, Virginia and Capital One Bank, National Association, Glen Allen, Virginia to acquire through a purchase and assumption the credit card portfolio of HSBC Bank Nevada, National Association, Las Vegas, Nevada. www.occ.gov/news-issuances/news-releases/2011/nr-occ-2011-138.html

November 21, 2011 - 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/2011/nr-occ-2011-137.html

November 21, 2011 - Agency information collection - Proposal to extend, with revision, FFIEC 002 and FFIEC 002S.   www.federalreserve.gov/boarddocs/press/foiadocs/2011/20111118/foia20111118.pdf 

November 21, 2011 - The Federal Reserve Board on Monday announced the members of its Community Depository Institutions Advisory Council and the president and vice president of the council for 2012. www.federalreserve.gov/newsevents/press/other/20111121a.htm 

November 18, 2011 - First NBC Bank, New Orleans, Louisiana, Assumes All of the Deposits of Central Progressive Bank, Lacombe, Louisiana - Central Progressive Bank, Lacombe, Louisiana, was closed today by the Louisiana Office 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 First NBC Bank, New Orleans, Louisiana, to assume all of the deposits of Central Progressive Bank. www.fdic.gov/news/news/press/2011/pr11181.html

November 18, 2011 - Grinnell State Bank, Grinnell, Iowa, Assumes All of the Deposits of Polk County Bank, Johnston, Iowa - Polk County Bank, Johnston, Iowa, was closed today by the Iowa Division of Banking, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Grinnell State Bank, Grinnell, Iowa, to assume all of the deposits of Polk County Bank. www.fdic.gov/news/news/press/2011/pr11180.html 

November 18, 2011 - 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 updates on interest rate and liquidity risk, money market mutual funds, residential mortgage and fraud topics. www.chicagofed.org/webpages/publications/risk_perspectives/2011_2014/2011_quarter_three.cfm

November 18, 2011 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

November 18, 2011 - Agencies Issue Statement to Clarify Supervisory and Enforcement Responsibilities - For Federal Consumer Financial Laws - A statement that explains how the total assets of an insured bank, thrift or credit union will be measured for purposes of determining supervisory and enforcement responsibilities under the Dodd-Frank Wall Street Reform and Consumer Protection Act was issued today by five federal financial supervisory agencies. www.federalreserve.gov/newsevents/press/bcreg/20111117a.htm
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November 17, 2011 - Release dates for the Federal Reserve Bank of Kansas City's monthly Manufacturing Survey - Tenth District farmland values surged to a record high in the third quarter, with stronger gains in the northern Plains, according to the Federal Reserve Bank of Kansas City’s quarterly Survey of Agricultural Credit Conditions. www.kc.frb.org/publicat/newsroom/2011pdf/press.release.11.15.11.pdf

November 17, 2011 - Agencies Issue Statement to Clarify Supervisory and Enforcement Responsibilities For Federal Consumer Financial Laws - A statement that explains how the total assets of an insured bank, thrift or credit union will be measured for purposes of determining supervisory and enforcement responsibilities under the Dodd-Frank Wall Street Reform and Consumer Protection Act was issued today by five federal financial supervisory agencies.
Press Release: www.federalreserve.gov/newsevents/press/bcreg/20111117a.htm
Press Release: www.fdic.gov/news/news/press/2011/pr11179.html
Press Release: www.occ.gov/news-issuances/news-releases/2011/nr-ia-2011-136.html
Press Release: www.ncua.gov/News/Pages/NW20111117JointRelease.aspx 

November 17, 2011 - NCUA Issues Cease & Desist Order to People for People Community Development Credit Union - The National Credit Union Administration issued an Order to Cease and Desist to People for People Community Development Credit Union of Philadelphia. The order requires the credit union to take the following actions: www.ncua.gov/News/Pages/NW20111117Peoples.aspx 

November 16, 2011 - Acting Comptroller Discusses Financial Regulation at the Special Seminar on International Finance - Acting Comptroller of the Currency John Walsh today discussed financial regulation during a speech at the Special Seminar on International Finance in Tokyo. www.occ.gov/news-issuances/news-releases/2011/nr-occ-2011-135.html

November 16, 2011 - Industrial production expanded 0.7 percent in October after having declined 0.1 percent in September. Previously, industrial production was reported to have gained 0.2 percent in September; most of this revision resulted from lower estimated output for mining. Factory output increased 0.5 percent in October after having risen 0.3 percent in September. www.federalreserve.gov/releases/g17/current/

November 16, 2011 - Federal Reserve Board issues consent order of prohibition and assesses civil money penalty against Bryan Posey.   www.federalreserve.gov/newsevents/press/enforcement/20111116a.htm

November 15, 2011 - Third Quarter Midwest Farmland Values Surge - Latest AgLetter reports highest year-over-year increase in farmland values since the late 1970s, at 25 percent, for the third quarter of 2011. www.chicagofed.org/webpages/publications/agletter/index.cfm

November 15, 2011 - The Federal Reserve's Dual Mandate - The Federal Reserve is charged with promoting both maximum employment and price stability. Information is now online about the Fed's performance meeting these objectives. www.chicagofed.org/webpages/publications/speeches/our_dual_mandate.cfm 

November 15, 2011 - OCC Issues Monthly Cost of Funds Reports for September - The Office of the Comptroller of the Currency today issued the monthly Cost of Funds reports (current and historical), which provide information about funding costs, as of September 30, 2011, for institutions formerly regulated by the Office of Thrift Supervision.  www.occ.gov/news-issuances/news-releases/2011/nr-occ-2011-134.html

November 15, 2011 - St. Louis Fed’s Bullard Discusses U.S. Economy and Monetary Policy - Federal Reserve Bank of St. Louis President James Bullard delivered remarks titled “The U.S. Macroeconomic Situation and Monetary Policy” on Tuesday at an event sponsored by the CFA Society of St. Louis. www.stls.frb.org/newsroom/displayNews.cfm?article=1206 

November 15, 2011 - Liquidity Risk and Hedge Fund Ownership - Charles Cao - Using a unique, hand-collected data set of hedge fund ownership, we examine the effects of hedge fund ownership on liquidity risk in the cross-section of stocks. After controlling for institutional preferences for stock characteristics, we find that stocks held by hedge funds as marginal investors are more sensitive to changes in aggregate liquidity than comparable stocks held by other types of institutions or by individuals. www.federalreserve.gov/pubs/feds/2011/201149/201149pap.pdf 

November 15, 2011 - Optimal Monetary Policy with State-Dependent Pricing - Anton Nakov and Carlos Thomas - In an abstract economic model, we study optimal monetary policy from the timeless perspective under a general state-dependent pricing framework. We find that when firms are monopolistic competitors subject to idiosyncratic menu cost shocks, households have isoelastic preferences, and there is no government spending, strict price stability is optimal both in the long run and in response to aggregate shocks. www.federalreserve.gov/pubs/feds/2011/201148/201148pap.pdf 

November 15, 2011 - Distributional dynamics under smoothly state-dependent pricing - James Costain and Anton Nakov - Starting from the assumption that firms are more likely to adjust their prices when doing so is more valuable, this paper analyzes monetary policy shocks in a DSGE model with firm-level heterogeneity. www.federalreserve.gov/pubs/feds/2011/201150/201150pap.pdf 

November 15, 2011 - Tossed and Turned: Wealth Dynamics of U.S. Households 2007-2009 - Arthur B. Kennickell - For many years, the cross-sectional Survey of Consumer Finances (SCF) has shown relatively weak or inconsistent changes in the shape of the distribution of net worth, despite many shifts in income and other economic factors. In 2009, households that had taken part in the 2007 SCF were re-interviewed to obtain information on the changes in their financial condition over the period of the intervening financial crisis. www.federalreserve.gov/pubs/feds/2011/201151/201151pap.pdf 

November 15, 2011 - Stock Return Predictability and Variance Risk Premia: Statistical Inference and International Evidence - Tim Bollerslev, James Marrone, Lai Xu, and Hao Zhou - Recent empirical evidence suggests that the variance risk premium, or the difference between risk-neutral and statistical expectations of the future return variation, predicts aggregate stock market returns, with the predictability especially strong at the 2-4 month horizons. www.federalreserve.gov/pubs/feds/2011/201152/201152pap.pdf

November 14, 2011 - NCUA Settles Claims against Citigroup - Citigroup has agreed to pay NCUA $20.5 million to reduce the losses associated with the five credit union failures. The settlement with Citigroup does not admit fault on their part. www.ncua.gov/News/Pages/NW20111114Citigroup.aspx 

November 14, 2011 - NCUA Settles Claims Against Deutsche Bank Securities - Deutsche Bank Securities agreed to pay NCUA $145 million to reduce the losses associated with the five credit union failures. The settlement with Deutsche Bank Securities does not admit fault on their part. www.ncua.gov/News/Pages/NW20111114DB.aspx 

November 14, 2011 - NCUA Meets or Exceeds Standards of Executive Order on Regulations - National Credit Union Administration Board Chairman Debbie Matz said NCUA is in full compliance with President Obama’s Executive Order to ensure that agencies design cost-effective regulations to promote economic growth and job creation. www.ncua.gov/News/Pages/NW20111114Matz.aspx

November14, 2011 - NCUA Issues Prohibition Orders - The National Credit Union Administration (NCUA) issued orders prohibiting the following individuals from participating in the affairs of any federally insured financial institution: www.ncua.gov/News/Pages/NW20111114Prohibitions.aspx 

November 14, 2011 -Regulatory Reform - Communications with the public through November 14, 2011.   www.federalreserve.gov/newsevents/reform_meetings.htm

November 14, 2011 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm 

November 11, 2011 - Vice Chair Janet L. Yellen - Pursuing Financial Stability at the Federal Reserve - At the Fourteenth Annual International Banking Conference, Federal Reserve Bank of Chicago, Chicago, Illinois.  www.federalreserve.gov/newsevents/speech/yellen20111111a.htm  ___________________________

November 10, 2011 - Century Bank of Georgia, Cartersville, Georgia, Assumes All of the Deposits of Community Bank of Rockmart, Rockmart, Georgia - Community Bank of Rockmart, Rockmart, Georgia, was closed today by the Georgia Department of Banking and Finance, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Century Bank of Georgia, Cartersville, Georgia, to assume all of the deposits of Community Bank of Rockmart. www.fdic.gov/news/news/press/2011/pr11178.html

November 10, 2011 - An Empirical Investigation of Consumption-based Asset Pricing Models with Stochastic Habit Formation - We econometrically estimate a consumption-based asset pricing model with stochastic internal habit and test it using the generalized method of moments. www.federalreserve.gov/pubs/feds/2011/201147/201147pap.pdf

November 10, 2011 - Oil Efficiency, Demand, and Prices: A Tale of Ups and Downs - The macroeconomic implications of oil price fluctuations vary according to their sources. Our estimated two-country DSGE model distinguishes between country-specific oil supply shocks, various domestic and foreign activity shocks, and oil efficiency shocks. www.federalreserve.gov/pubs/ifdp/2011/1031/ifdp1031.htm

November 10, 2011 - Chairman Ben S. Bernanke - Remarks - At the Town Hall Meeting with Soldiers and and Their Families, Fort Bliss, Texas.   www.federalreserve.gov/newsevents/speech/bernanke20111110a.htm

November 10, 2011 - Federal Reserve Board issues consent orders of prohibition against Thomas B. Hebble and Angel Guerzon - The Federal Reserve Board on Thursday announced the issuance of Consent Orders of Prohibition against Thomas B. Hebble and Angel Guerzon, former senior officers and institution-affiliated parties of Orion Bank, Naples, Florida, a former state-member bank that failed in November 2009. www.federalreserve.gov/newsevents/press/enforcement/20111110a.htm

November 10, 2011 - NCUA Responds to Executive Order 13579 - Chairman Matz Responds to President Obama’s Executive Order 13579: Regulation and Independent Regulatory Agencies. www.ncua.gov/News/Documents/NW20111110EO-13579.pdf

November 9, 2011 - Creating Positive Impact on Distressed Communities - Profitwise News and Views Spotlight explores four examples of interjurisdictional collaboration (IJC) from the Chicago metropolitan area. Examples involve suburban communities and demonstrate the changing ways that metropolitan suburbs address housing issues. www.chicagofed.org/webpages/publications/profitwise_news_and_views/2011/pnv_nov2011.cfm 

November 9, 2011 - NCUA Statement on the Illegal Release of Confidential Examination Information for DC FCU - Credit union examination results are confidential information and not for public release under the law. NCUA’s Regulations specifically prohibit the release of such information by officers, employees or agents of NCUA or any federally insured credit union. This trust has been violated in the case of DC Federal Credit Union. www.ncua.gov/News/Pages/NW20111109Confidential.aspx 

November 9, 2011 - Governor Daniel K. Tarullo - The Evolution of Capital Regulation - At the Clearing House Business Meeting and Conference, New York, New York.  www.federalreserve.gov/newsevents/speech/tarullo20111109a.htm 

November 9, 2011 - Chairman Ben S. Bernanke - Welcoming Remarks - At the Conference on Small Business and Entrepreneurship during an Economic Recovery, Federal Reserve Board, Washington, D.C. www.federalreserve.gov/newsevents/speech/bernanke20111109a.htm

November 8, 2011 - St. Louis Fed Launches the FRED Add-in for Microsoft Excel - The FRED add-in is designed for users of economic data, such as students, professors, business economists and financial analysts, who have a basic knowledge of Excel but may not be familiar with the features of FRED, our signature economic database. www.stls.frb.org/newsroom/displayNews.cfm?article=1197 

November 8, 2011 - From Many Series, One Cycle: Improved Estimates of the Business Cycle from a Multivariate Unobserved Components Model - We construct new estimates of potential output and the output gap using a multivariate approach that allows for an explicit role for measurement errors in the decomposition of real output.  www.federalreserve.gov/pubs/feds/2011/201146/201146pap.pdf

November 8, 2011 - Risk, Uncertainty, and Expected Returns - A consumption-based asset pricing model with risk and uncertainty implies that the time-varying exposures of equity portfolios to the market and uncertainty factors carry positive risk premiums.  www.federalreserve.gov/pubs/feds/2011/201145/201145pap.pdf

November 8, 2011 - Two Practical Algorithms for Solving Rational Expectations Models - This paper describes the E-Newton and E-QNewton algorithms for solving rational expectations (RE) models. Both algorithms treat a model's RE terms as exogenous variables whose values are iteratively updated until they (hopefully) satisfy the RE requirement. www.federalreserve.gov/pubs/feds/2011/201144/index.html

November 7, 2011 - Change in Virtual Data Room Used by the FDIC When Marketing Failing Financial Institutions - The Federal Deposit Insurance Corporation (FDIC) is changing the virtual data room used to market failing financial institutions. www.fdic.gov/news/news/financial/2011/fil11069.html

November 7, 2011 - Consumer credit increased at an annual rate of 1-1/2 percent in the third quarter. Revolving credit decreased at an annual rate of 3-1/4 percent, while nonrevolving credit increased 3-3/4 percent. In September, consumer credit increased at an annual rate of 3-1/2 percent. www.federalreserve.gov/releases/g19/current/

November 7, 2011 - Communications with the public through November 7, 2011 - The Federal Reserve Board will be involved in many rulemakings to implement the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. www.federalreserve.gov/newsevents/reform_meetings.htm

November 7, 2011 - Senior Loan Officer Opinion Survey on Bank Lending Practices, October 2011.   www.federalreserve.gov/boarddocs/snLoanSurvey/201111/default.htm

November 4, 2011 - Cache Valley Bank, Logan, Utah, Assumes Deposits of SunFirst Bank, Saint George, Utah - SunFirst Bank, Saint George, Utah, was closed today by the Utah 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 Cache Valley Bank, Logan, Utah, to assume most of the deposits of SunFirst Bank. The FDIC will retain approximately $15 million in deposits that may be subject to external litigation involving SunFirst Bank. The affected accounts were frozen prior to the failure of the bank. All other accounts were transferred to Cache Valley Bank. www.fdic.gov/news/news/press/2011/pr11177.html

November 4, 2011 - Purdum State Bank, Purdum, Nebraska, Assumes All of the Deposits of Mid City Bank, Inc., Omaha, Nebraska - Mid City Bank, Inc., Omaha, Nebraska, was closed today by the Nebraska Department of Banking and Finance, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Purdum State Bank, Purdum, Nebraska, to assume all of the deposits of Mid City Bank, Inc. www.fdic.gov/news/news/press/2011/pr11176.html

November 4, 2011 - FDIC Issues List of Banks Examined for CRA Compliance - The Federal Deposit Insurance Corporation (FDIC) today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act www.fdic.gov/news/news/press/2011/pr11175.html

November 4, 2011 - Governor Daniel K. Tarullo - The International Agenda for Financial Regulation - At the American Bar Association Banking Law Committee Fall Meeting, Washington, D.C. www.federalreserve.gov/newsevents/speech/tarullo20111104a.htm

November 3, 2011 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

November 3, 2011 - Proposals for Comment - Proposal to approve under OMB delegated authority the implementation of the following reports: Capital Assessments and Stress Testing www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm
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November 3, 2011 - Federal Reserve Board issues enforcement actions with Capital Funding Bancorp, Inc., CFG Community Bank and Huntington Bancshares, Inc. www.federalreserve.gov/newsevents/press/enforcement/20111103a.htm 

November 3, 2011 - Supervision Manual - Commercial Bank Examination Manual, October 2011 update.   www.federalreserve.gov/boarddocs/supmanual/default.htm 

November 2, 2011 - Predicting Gross State Product with the Midwest Economy Index - Chicago Fed Letter explains how the MEI can be used to produce quarterly estimates of annual GSP. www.chicagofed.org/digital_assets/publications/chicago_fed_letter/2011/cfldecember2011_293.pdf

November 2, 2011 - Financial Conditions Improve - With revisions to previous weeks' data, the NFCI improved for fourth consecutive week, edging down to -0.21 in the week ending October 28. www.chicagofed.org/webpages/publications/nfci/index.cfm

November 2, 2011 - The National Credit Union Administration has issued an order prohibiting the following individual from participating in the affairs of any federally insured financial institution: www.ncua.gov/News/Pages/NW2011112ProhibitionPena.aspx

November 2, 2011 - Payment Systems - Fedwire Funds Service, Fedwire Securities Service, National Settlement Service, Quarterly data.   www.federalreserve.gov/paymentsystems/default.htm 

November 2, 2011 - Federal Reserve Board and Federal Open Market Committee release economic projections from the November 1-2 FOMC meeting - The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached table and charts summarizing the economic projections made by Federal Reserve Board members and Federal Reserve Bank presidents for the November 1-2 meeting of the Committee. www.federalreserve.gov/newsevents/press/monetary/20111102b.htm 

November 2, 2011 - Federal Reserve issues FOMC statement - Information received since the Federal Open Market Committee met in September indicates that economic growth strengthened somewhat in the third quarter, reflecting in part a reversal of the temporary factors that had weighed on growth earlier in the year. www.federalreserve.gov/newsevents/press/monetary/20111102a.htm

November 1, 2011 - How do benefit adjustments for government transfer programs compare with their participants’ inflation experiences? - Leslie McGranahan.   http://www.chicagofed.org/digital_assets/publications/economic_perspectives/2011/4qtr2011_part2_mcgranahan_paulson.pdf

November 1, 2011 - Chicago Fed Director Resigns - Allstate CEO Tom Wilson resigned October 24 from the Chicago Fed Board of Directors, effective immediately, to avoid an eligibility issue that could arise in the future related to Allstate's ownership of a thrift holding company, a type of financial institution for which the Fed has assumed regulatory responsibility. www.chicagofed.org/webpages/people/person_listing.cfm?filter_role=5

November 1, 2011 - The National Credit Union Administration today launched its completely restructured and redesigned primary web site, and rolled out the second phase of its consumer-focused website, making key information easier to access. www.ncua.gov/News/Pages/NW20111101NewWeb.aspx

November 1, 2011 - Independent Foreclosure Review Underway - The Office of the Comptroller of the Currency today announced that the independent foreclosure review required under the agency’s enforcement actions taken in April 2011 has begun. www.occ.gov/news-issuances/news-releases/2011/nr-occ-2011-133.html 

November 1, 2011 - Board issues enforcement action with Princeton National Bancorp, Inc. www.federalreserve.gov/newsevents/press/enforcement/20111101b.htm 

November 1, 2011 - Federal Reserve Board announces that borrowers from four mortgage servicers can request an independent review and potentially receive compensation.  www.federalreserve.gov/newsevents/press/enforcement/20111101a.htm