The E-mail Banking News
(Bank Regulatory News)
October 2012

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October 31, 2012 - NCUA - Women’s Southwest Federal Credit Union Closes - The National Credit Union Administration today liquidated Women’s Southwest Federal Credit Union of Dallas, Texas. NCUA made the decision to liquidate WSFCU and discontinue operations after determining the credit union was insolvent and had no prospect for restoring viable operations. www.ncua.gov/News/Pages/NW20121031WomenSWFCU.aspx

October 31, 2012 - Kansas City Fed survey shows little change in LMI conditions - Indicators of economic and financial conditions in the Tenth Federal Reserve District’s low- to moderate-income community were little changed in the third quarter, according to the Federal Reserve Bank of Kansas City’s quarterly LMI survey. www.kc.frb.org/publicat/newsroom/2012pdf/Press.Release.10.30.12.pdf

October 31, 2012 - The Federal Financial Institutions Examination Council today issued a revised Supervision of Technology Service Providers booklet, which is part of the FFIEC Information Technology Examination Handbook.  www.ffiec.gov/press/pr103112.htm

October 31, 2012 - The October 2012 Senior Loan Officer Opinion Survey on Bank Lending Practices - The October 2012 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.   www.federalreserve.gov/boarddocs/snloansurvey/201210/default.htm

October 31, 2012 - Dollar Funding and the Lending Behavior of Global Banks - Victoria Ivashina, David S. Scharfstein, and Jeremy C. Stein - A large share of dollar-denominated lending is done by non-U.S. banks, particularly European banks. We present a model in which such banks cut dollar lending more than euro lending in response to a shock to their credit quality. www.federalreserve.gov/pubs/feds/2012/201274/201274pap.pdf

October 31, 2012 - The Federal Reserve Board on Wednesday announced its approval of the application by Sumitomo Mitsui Financial Group, Inc. and Sumitomo Mitsui Banking Corporation, both of Tokyo, Japan, foreign banking organizations that are bank holding companies under the Bank Holding Company Act of 1956, as amended, to acquire up to 9.9 percent of the voting shares of The Bank of East Asia, Limited, Hong Kong SAR, People's Republic of China, a foreign banking organization that is a bank holding company under the BHC Act by virtue of its ownership of The Bank of East Asia National Association, New York, New York. www.federalreserve.gov/newsevents/press/orders/20121031a.htm

October 31, 2012 - The Federal Reserve Board on Monday announced the approval of fee schedules, effective January 2, 2013, for payment services the Federal Reserve Banks provide to depository institutions.  www.federalreserve.gov/newsevents/press/other/20121029a.htm

October 30, 2012 - FDIC Launches Alliance for Economic Inclusion Coalition in Northeastern Oklahoma - The Federal Deposit Insurance Corporation today launched an Alliance for Economic Inclusion initiative in Northeastern Oklahoma in partnership with the Greater Tulsa United Way, tribal, state and federal agencies, financial institutions, and community-based stakeholders. www.fdic.gov/news/news/press/2012/pr12124.html

October 29, 2012 - Comptroller of the Currency Highlights Importance of Risk Management - Comptroller of the Currency Thomas J. Curry today emphasized the importance of risk management during a speech at a conference for industry risk management professionals. www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-155.html

October 26, 2012 - FDIC Approves the Payout of the Insured Deposits of NOVA Bank, Berwyn, Pennsylvania - The Federal Deposit Insurance Corporation approved the payout of the insured deposits of NOVA Bank, Berwyn, Pennsylvania. The bank was closed today by the Pennsylvania Department of Banking and Securities, which appointed the FDIC as receiver. www.fdic.gov/news/news/press/2012/pr12123.html

October 26, 2012 - NCUA - Laster Named Director of NCUA’s Office of Consumer Protection - Buckham to Retire at End of 2012 after More Than 35 Years of Service - National Credit Union Administration Board Chairman Debbie Matz today announced the selection of Gail Laster as Director of the Office of Consumer Protection, a senior management position within the agency. www.ncua.gov/News/Pages/NW20121026Laster.aspx

October 26, 2012 - OCC, Ex-Im Bank, and SBA Co-Sponsor Webinar on How Community Banks Can Finance Small Business Exporters - The Office of the Comptroller of the Currency, in cooperation with the Export Import Bank of the United States and the U.S. Small Business Administration will host a free live Webinar from 2:00 to 3:15 p.m. (Eastern) on November 1, 2012. www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-153.html

October 26, 2012 - FDIC Makes Public September Enforcement Actions; No Administrative Hearings Scheduled for November 2012 - The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in September. No administrative hearings are scheduled for November 2012. www.fdic.gov/news/news/press/2012/pr12122.html

October 26, 2012 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

October 26, 2012 - Payment Systems - Quarterly data updates.  www.federalreserve.gov/paymentsystems/default.htm

October 26, 2012 - Federal Reserve Board announces delay in the implementation of the second phase of its program to simplify the administration of reserve requirements www.federalreserve.gov/newsevents/press/bcreg/20121026a.htm

October 26, 2012 - The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in September. No administrative hearings are scheduled for November 2012. http://www.fdic.gov/news/news/press/2012/pr12122.html

October 25, 2012 - Economic Activity Improved in September - The Chicago Fed National Activity Index was 0.00 in September, up from
-1.17 in August. www.chicagofed.org/digital_assets/publications/cfnai/2012/cfnai_october2012.pdf 

October 25, 2012 - Deputy Comptroller Discusses Risk Management - Deputy Comptroller for Credit and Market Risk Darrin Benhart today discussed the OCC’s perspective on risk management during the 20th Annual Financial Services Collections and Credit Conference in Scottsdale, Arizona. www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-152.html

October 25, 2012 - International Association of Deposit Insurers Marks Tenth Anniversary and Elects New President in London - FDIC Acting Chairman Completes Two Terms as President - The Federal Deposit Insurance Corporation, the International Association of Deposit Insurers, the Bank Guarantee Fund of Poland and the Financial Services Compensation Scheme today announced that Acting FDIC Chairman Martin Gruenberg completed his five-year term as President of the IADI during the 11th Annual General Meeting and Conference in London this week. www.fdic.gov/news/news/press/2012/pr12121.html

October 25, 2012 - Federal Reserve Board announces annual indexing of reserve requirement exemption amount and of low reserve tranche for 2013.   www.federalreserve.gov/newsevents/press/bcreg/20121025a.htm

October 24, 2012 - New Issue of Risk Perspectives Available - The Federal Reserve Bank of Chicago's supervision group follows current and emerging risk trends on an on-going basis.  www.chicagofed.org/webpages/publications/risk_perspectives/2011_2014/2012_quarter_three.cfm

October 24, 2012 - Federal Reserve issues FOMC statement - Information received since the Federal Open Market Committee met in September suggests that economic activity has continued to expand at a moderate pace in recent months. www.federalreserve.gov/newsevents/press/monetary/20121024a.htm 

October 23, 2012 - NCUA Chairman Matz’ Town Hall Webinar Now Available Online - NCUA Board Chairman Debbie Matz’ recent town hall webinar is now available online, the agency announced today. www.ncua.gov/News/Pages/NW20121023MatzTownHallWebinar.aspx

October 23, 2012 - Comptroller of the Currency Discusses Community Banker Concerns - Comptroller of the Currency Thomas J. Curry today discussed a variety of concerns expressed by community bankers during a speech at an event sponsored by the Florida Bankers Association.  www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-151.html

October 23, 2012 - Federal Reserve Bulletin - Legal Developments: First Quarter, 2012 - Three orders were issued in this quarter, one for Adam Bank Group, Inc. under Section 3 of the Bank Holding Company Act, and one for Capital One Financial Corporation and Hana Financial Group, Inc. under Section 4 of the Bank Holding Company Act. http://www.federalreserve.gov/pubs/bulletin/2012/pdf/legalq112.pdf

October 23, 2012 - Federal Reserve Board issues enforcement action with Patapsco Bancorp, Inc and The Patapsco Bank.   www.federalreserve.gov/newsevents/press/enforcement/20121023a.htm

October 22, 2012 - NCUA’s October Economic Update for Credit Unions Now Available Online - The National Credit Union Administration today released the latest video in the agency’s free “YouTube” economic update series. NCUA Chief Economist John Worth’s October analysis examines recent economic developments and covers possible risks, including a discussion of the potential effect of the “fiscal cliff” on credit union performance. www.ncua.gov/News/Pages/NW20121022EconVideo.aspx

October 22, 2012 - OCC Deputy Comptroller Discusses Enterprise Risk Management - Deputy Comptroller for Operational Risk Carolyn G. DuChene today discussed enterprise risk management during a seminar for community banks held by Bank Safety & Soundness Advisor. www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-150.html

October 22, 2012 - Dialogue with the Fed: Beyond Today's Financial Headlines - It’s been four years since the bankruptcy of Lehman Brothers, the subsequent bailout of AIG and the government takeover of Fannie Mae and Freddie Mac. Today, financial markets still have not fully regained the ground they lost from 2008 – 2009. U.S. unemployment remains high and the housing market is stagnant. www.stlouisfed.org/newsroom/displayNews.cfm?article=1344

October 22, 2012 - Regulatory Reform - Communications with the public through October 22, 2012.  www.federalreserve.gov/newsevents/reform_meetings.htm

October 22, 2012 - Procurement - Doing Business with the Board, Supplier Diversity, and Supplier Registration Form.   www.federalreserve.gov/aboutthefed/procurement/about.htm

October 22, 2012 - The October 2012 Issue of the NCUA Report is Now Available.  www.ncua.gov/News/NewsLtrs/Pages/default.aspx

October 19, 2012 - Simmons First National Bank, Pine Bluff, Arkansas, Assumes All of the Deposits of Excel Bank, Sedalia, Missouri - Excel Bank, Sedalia, Missouri, was closed today by the Missouri Division of Finance, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Simmons First National Bank, Pine Bluff, Arkansas, to assume all of the deposits of Excel Bank. www.fdic.gov/news/news/press/2012/pr12120.html

October 19, 2012 - NCUA Issues Prohibition Order Against Former WesCorp CEO - Siravo Will Pay $600,000 to Liquidating Agent for Closed Corporate Credit Union - The National Credit Union Administration has issued an order prohibiting the following individual from participating in the affairs of any federally insured credit union: •Robert A. Siravo, the former Chief Executive Officer of Western Corporate Federal Credit Union , San Dimas, Calif., without admitting liability or fault, consented to a prohibition order to avoid administrative litigation and further court proceedings. www.ncua.gov/News/Pages/NW20121019Siravo.aspx

October 19, 2012 - OCC Appoints Receiver for First East Side Savings Bank, Tamarac, Florida - The Office of the Comptroller of the Currency (OCC) today appointed the Federal Deposit Insurance Corporation as receiver for First East Side Savings Bank, Tamarac, Florida, a federal savings association. As of June 30, 2012, the institution had approximately $67 million in total assets. www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-149.html

October 19, 2012 - 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/2012/nr-occ-2012-148.html

October 19, 2012 - OCC Supports National Protect Your Identity Week - The Office of the Comptroller of the Currency has joined the public-private coalition that supports Protect Your Identity Week, an initiative of the National Foundation for Credit Counseling, the National Sheriffs’ Association and the National Association of Triads which will take place October 20–27, 2012. www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-147.html

October 19, 2012 - Simmons First National Bank, Pine Bluff, Arkansas, Assumes All of the Deposits of Excel Bank, Sedalia, Missouri - Excel Bank, Sedalia, Missouri, was closed today by the Missouri Division of Finance, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Simmons First National Bank, Pine Bluff, Arkansas, to assume all of the deposits of Excel Bank. www.fdic.gov/news/news/press/2012/pr12120.html

October 19, 2012 - Stearns Bank National Association, St. Cloud, Minnesota, Assumes All of the Deposits of First East Side Savings Bank, Tamarac, Florida - First East Side Savings Bank, Tamarac, Florida, was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Stearns Bank National Association, St. Cloud, Minnesota, to assume all of the deposits of First East Side Savings Bank. www.fdic.gov/news/news/press/2012/pr12119.html

October 19, 2012 - SmartBank, Pigeon Forge, Tennessee, Assumes All of the Deposits of GulfSouth Private Bank, Destin, Florida - GulfSouth Private Bank, Destin, Florida, was closed today by the Florida Office of Financial Regulation, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with SmartBank, Pigeon Forge, Tennessee, to assume all of the deposits of GulfSouth Private Bank. www.fdic.gov/news/news/press/2012/pr12118.html

October 19, 2012 - FFIEC Statement on the Impact of Drought Conditions on Financial Institutions.  www.federalreserve.gov/bankinforeg/srletters/sr1213.htm

October 19, 2012 - 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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October 19, 2012 - OCC Enforcement Actions - 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. http://www.occ.treas.gov/news-issuances/news-releases/2012/nr-occ-2012-148.html

October 18, 2012 - Fed's Evans Addresses Indiana Business Group - Chicago Fed President Charles Evans gave a speech September 26 about national economic conditions and the appropriate monetary policy response to members of the Lakeshore Chamber of Commerce during their 8th annual business expo. www.chicagofed.org/webpages/publications/speeches/2012/09_26_12_hammond.cfm

October 18, 2012 - What Have We Learned about Asset Price Bubbles? - Chicago Fed Letter evaluates what is now known about asset bubbles and whether they can (or should) be managed in the public interest. www.chicagofed.org/digital_assets/publications/chicago_fed_letter/2012/cflnovember2012_304.pdf

October 18, 2012 - NCUA - Treichel Selected as Next Executive Director - National Credit Union Administration Board Chairman Debbie Matz today announced the selection of Mark A. Treichel as the agency’s next Executive Director, the agency’s most senior career position. www.ncua.gov/News/Pages/NW20121018Treichel.aspx

October 18, 2012 - OCC Announces New Stress Testing Guidance and Commercial Real Estate Stress Test Tool for National Community Banks and Federal Savings Associations - The Office of the Comptroller of the Currency today provided guidance to national banks and federal savings associations with assets of $10 billion or less (community banks) on using stress testing to assess risk in their loan portfolios. www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-146.html

October 18, 2012 - FDIC Announces Winning Bidder in Its Fourth Small Investor Program Sale - The Federal Deposit Insurance Corporation has closed on the fourth sale in its Small Investor Program. The sale involved a competitive bidding process for an equity interest in a limited liability company. The LLC was formed by the FDIC in its receivership capacity to hold certain assets of the failed Tennessee Commerce Bank located in Franklin, TN, which was closed on January 27, 2012. www.fdic.gov/news/news/press/2012/pr12117.html

October 18, 2012 - The Federal Reserve Board on Thursday announced the members of its Community Depository Institutions Advisory Council and the president and vice president of the council for 2013. www.federalreserve.gov/newsevents/press/other/20121018a.htm

October 17, 2012 - NCUA Signs Letter of Understanding and Agreement with Lynn Municipal Employees CU.   www.ncua.gov/News/Pages/NW20121017LetterUnderstanding.aspx

October 17, 2012 - Federal Reserve Board announces approval of proposal by River Valley Bancorp to acquire Dupont State Bank.  www.federalreserve.gov/newsevents/press/orders/20121017a.htm

October 16, 2012 - The Federal Financial Institutions Examination Council today encouraged financial institutions to work constructively with borrowers affected by drought conditions and consider alternatives for prudently restructuring credit facilities as appropriate. www.ffiec.gov/press/pr101612.htm

October 16, 2012 - Industrial production rose 0.4 percent in September after having fallen 1.4 percent in August. For the third quarter as a whole, industrial production declined at an annual rate of 0.4 percent. Manufacturing output increased 0.2 percent in September but moved down at an annual rate of 0.9 percent in the third quarter. www.federalreserve.gov/releases/g17/current/

October 15, 2012 - Comptroller of the Currency Speaks at American Bankers Association Event - Comptroller of the Currency Thomas J. Curry today discussed regulatory issues facing national banks and federal savings associations with attendees of the American Bankers Association’s national convention. www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-144.html

October 15, 2012 - Job-to-Job Flows and the Consequences of Job Separations - Bruce Fallick, John Haltiwanger, and Erika McEntarfer - This paper extends the literature on the earnings losses of displaced workers to provide a more comprehensive picture of the earnings and employment outcomes for workers who separate. www.federalreserve.gov/pubs/feds/2012/201273/201273pap.pdf

October 15, 2012 - Practical Tools for Policy Analysis in DSGE Models with Missing Channels - Dario Caldara, Richard Harrison, and Anna Lipinska - In this paper we analyze the propagation of shocks originating in sectors that are not present in a baseline dynamic stochastic general equilibrium model.   www.federalreserve.gov/pubs/feds/2012/201272/201272pap.pdf

October 15, 2012 - Regulatory Reform - Communications with the public through October 15, 2012.   www.federalreserve.gov/newsevents/reform_meetings.htm

October 14, 2012 - Chairman Ben S. Bernanke - U.S. Monetary Policy and International Implications - At the "Challenges of the Global Financial System: Risks and Governance under Evolving Globalization," A High-Level Seminar sponsored by Bank of Japan-International Monetary Fund, Tokyo, Japan.  www.federalreserve.gov/newsevents/speech/bernanke20121014a.htm

October 12, 2012 - NCUA - Webinar on Troubled Debt Restructuring, Workouts, and Nonaccruals Now Online - A recent webinar on loan workouts, nonaccruals, and the reporting of troubled debt restructurings is now available online, the National Credit Union Administration announced today. www.ncua.gov/News/Pages/NW20121012WorkoutsWebinar.aspx 

October 12, 2012 - Statistical Release - Minority-Owned Banks.  www.federalreserve.gov/whatsnew.htm 

October 12, 2012 - Statistical Release - Large Commercial Banks.  www.federalreserve.gov/releases/lbr/current/default.htm

October 12, 2012 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.  www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

October 12, 2012 - Payment Systems - Quarterly data updates www.federalreserve.gov/paymentsystems/psr_data.htm
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October 11, 2012 - NCUA - Agenda for the 10/18/2012 NCUA Board Meeting is Available.  www.ncua.gov/about/BoardActions/Pages/BDMtg2012.aspx

October 11, 2012 - St. Louis Fed Releases Second Quarter Housing Market Conditions Report - The Federal Reserve Bank of St. Louis has released the second of its quarterly Housing Market Conditions report for the United States and states that comprise the Bank's Eighth District: Arkansas, Illinois, Indiana, Kentucky, Missouri, Mississippi and Tennessee. www.stlouisfed.org/newsroom/displayNews.cfm?article=1549

October 11, 2012 - Governor Jeremy C. Stein - Evaluating Large-Scale Asset Purchases - At the Brookings Institution, Washington, D.C. www.federalreserve.gov/newsevents/speech/stein20121011a.htm

October 11, 2012 - Vice Chair Janet L. Yellen - Japan in the Global Economy II - At the Institute of International Finance Annual Membership Meeting, Tokyo, Japan.  www.federalreserve.gov/newsevents/speech/yellen20121011a.htm

October 11, 2012 - Federal Reserve Board announces termination of enforcement action with Sunrise Bank.   www.federalreserve.gov/newsevents/press/enforcement/20121011a.htm

October 10, 2012 - Asset price bubbles: What are the causes, consequences, and public policy options? - This article discusses how the global financial crisis has forced researchers and policymakers to reconsider their understanding of both the economics of asset price bubbles and alternative policy options to address them. www.chicagofed.org/digital_assets/publications/chicago_fed_letter/2012/cflnovember2012_304.pdf

October 10, 2012 - Kansas City Fed research examines student loans - Over the last decade, student loan debt in the United States has grown at a rapid pace. Along with this growth in debt, default rates on student loans have also increased. But while individual student loan borrowers face a number of challenges, a new research paper from the Federal Reserve Bank of Kansas City concludes growth in debt and default rates has not resulted in a substantial burden for society as a whole at this time. www.kc.frb.org/publicat/newsroom/2012pdf/press.release.09.10.12.pdf

October 10, 2012 - Federal Reserve Releases October Beige Book and Related Sound Clip.  
www.stlouisfed.org/newsroom/displayNews.cfm?article=1550
www.stlouisfed.org/newsroom/displayNews.cfm?article=1551

October 10, 2012 - Beige Book - Informal review by the Federal Reserve Banks of current economic conditions in their Districts.   www.federalreserve.gov/monetarypolicy/beigebook/default.htm

October 10, 2012 - Governor Daniel K. Tarullo - Financial Stability Regulation - At the Distinguised Jurist Lecture, University of Pennsylvania Law School, Philadelphia, Pennsylvania.  www.federalreserve.gov/newsevents/speech/tarullo20121010a.htm

October 9, 2012 - Comptroller Curry's Statement Regarding FDIC Stress Test Rule - Comptroller of the Currency Thomas J. Curry made the following statement on the stress test rule at a meeting today of the Board of Directors of the Federal Deposit Insurance Corporation.  www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-143.html

October 9, 2012 - St. Louis Fed President James Bullard Will Speak at 3rd Annual Economic Forum.  www.stlouisfed.org/newsroom/displayNews.cfm?article=1546

October 9, 2012 - Area Students Will Serve on St. Louis Fed's Student Board of Directors - A dozen students from the St. Louis metropolitan area will serve on the inaugural Student Board of Directors at the Federal Reserve Bank of St. Louis. www.stlouisfed.org/newsroom/displayNews.cfm?article=1548

October 9, 2012 - Final Rule on Assessments, Large Bank Pricing - On October 9, 2012, the FDIC Board of Directors adopted the attached final rule, which amends and clarifies some definitions of higher-risk assets as used in the deposit insurance pricing scorecards for large and highly complex insured depository institutions. www.fdic.gov/news/news/financial/2012/fil12044.html

October 9, 2012 - FDIC Approves Final Rules Regarding Large Bank Stress Tests and Large Bank Assessment Pricing and Releases An Update on the DIF Projections.  
Press Release: www.fdic.gov/news/news/press/2012/pr12116.html
Press Release: www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-142.html

October 9, 2012 - Regulatory Reform - Communications with the public through October 9, 2012.  www.federalreserve.gov/newsevents/reform_meetings.htm

October 9, 2012 - The Federal Reserve Board on Tuesday released the minutes of its discount rate meetings from August 13 through September 10, 2012. www.federalreserve.gov/newsevents/press/monetary/monetary20121009a1.pdf

October 9, 2012 - Federal Reserve Board publishes two final rules with stress testing requirements for certain bank holding companies, state member banks, and savings and loan holding companies.  www.federalreserve.gov/newsevents/press/bcreg/20121009a.htm

October 5, 2012 - 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/2012/pr12115.html

October 5, 2012 - In August, consumer credit increased at a seasonally adjusted annual rate of 8 percent. Revolving credit increased at an annual rate of 6 percent, and nonrevolving credit increased at an annual rate of 9 percent. www.federalreserve.gov/releases/g19/current/default.htm

October 5, 2012 - On the (In)effectiveness of Fiscal Devaluations in a Monetary Union - Anna Lipinska and Leopold von Thadden - This paper explores the fiscal devaluation hypothesis in a model of a monetary union characterised by national fiscal policies and supranational monetary policy. www.federalreserve.gov/pubs/feds/2012/201271/201271pap.pdf

October 5, 2012 - Optimal Capital Taxation with Idiosyncratic Investment Risk - Vasia Panousi and Catarina Reis - We examine the optimal taxation of capital in a Ramsey setting of a general-equilibrium heterogeneous-agent economy with uninsurable idiosyncratic investment or capital-income risk. www.federalreserve.gov/pubs/feds/2012/201270/201270pap.pdf

October 5, 2012 - The Properties of Income Risk in Privately Held Businesses - Jason DeBacker, Bradley Heim, Vasia Panousi, Shanthi Ramnath, and Ivan Vidangos - Our paper represents the first attempt in the literature to estimate the properties of business income risk from privately held businesses in the US. Using a new, large, and confidential panel of US income tax returns for the period 1987-2009, we extensively document the empirical stylized facts about the evolution of various business income risk measures over time. www.federalreserve.gov/pubs/feds/2012/201269/201269pap.pdf

October 5, 2012 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

October 5, 2012 - Governor Elizabeth A. Duke - Addressing Long-Term Vacant Properties to Support Neighborhood Stabilization - At the Federal Reserve Bank of New York, New York, New York www.federalreserve.gov/newsevents/speech/duke20121005a.htm
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October 4, 2012 - Update on Financial Conditions - Financial conditions were steady in the week ending September 28, with both the NFCI and ANFCI suggesting an improvement over the course of September. www.chicagofed.org/webpages/research/data/nfci/background.cfm

October 4, 2012 - 37th Annual Federal Reserve Bank of St. Louis Fall Conference.  www.stlouisfed.org/newsroom/displayNews.cfm?article=1542

October 4, 2012 - Federal Reserve and FDIC release resolution plans, also known as living wills, filed by Bank of New York Mellon and State Street.   www.federalreserve.gov/bankinforeg/resolution-plans.htm

October 4, 2012 - The Federal Reserve Board and the Federal Open Market Committee on Thursday released the attached minutes of the Committee meeting held on September 12-13, 2012. A summary of economic projections made by Federal Reserve Board members and Reserve Bank presidents for the September 12-13, 2012 meeting is also included as an addendum to these minutes. www.federalreserve.gov/newsevents/press/monetary/20121004a.htm

October 4, 2012 - Federal Reserve Board announces termination of enforcement actions with Northeast Securities Corporation and TCSB Bancorp.   www.federalreserve.gov/newsevents/press/enforcement/20121004a.htm

October 3, 2012 - OCC Deputy Comptroller Taylor Named Chair of Basel Committee Standards Group - The Office of the Comptroller of the Currency today announced that Charles Taylor, Deputy Comptroller for Regulatory Policy, has been selected by the Basel Committee on Banking Supervision to chair its Standards Implementation Group. www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-141.html

October 3, 2012 - Comptroller Curry Addresses the National Bankers Association - Comptroller of the Currency Thomas J. Curry discussed minority depository institutions during a speech today at the annual convention of the National Bankers Association. www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-140.html

October 2, 2012 - NCUA Issues Prohibition Orders - The National Credit Union Administration has issued orders prohibiting the following individuals from participating in the affairs of any federally insured financial institution.  www.ncua.gov/News/Pages/NW20121002Prohibition.aspx

October 2, 2012 - Comptroller Curry Addresses the OCC's Bank Information Technology Training Conference - Comptroller of the Currency Thomas J. Curry discussed operational risk in remarks today at a training conference for OCC Bank Information Technology examiners. www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-139.html

October 2, 2012 - Senior Credit Officer Opinion Survey on Dealer Financing Terms - The Senior Credit Officer Opinion Survey on Dealer Financing Terms is a quarterly survey providing information about the availability and terms of credit in securities financing and over-the counter derivatives markets. www.federalreserve.gov/econresdata/releases/scoos.htm

October 2, 2012 - Federal Reserve Board issues enforcement action with SouthFirst Bancshares and termination of enforcement action with West Concord Bancshares and Farmers State Bank of West Concord.  www.federalreserve.gov/newsevents/press/enforcement/20121002a.htm

October 1, 2012 - NCUA Releases New Videos on Economic Trends and Emergency Liquidity - The National Credit Union Administration released today the latest edition in the agency’s free “YouTube” economic update series. www.ncua.gov/News/Pages/NW20121001EconVideo.aspx

October 1, 2012 - OCC Releases CRA Evaluations for 31 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 September 1, 2012 through September 30, 2012. http://www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-138.html

October 1, 2012 - OCC Assesses Civil Money Penalty Against American Express, Orders $6 Million in Restitution - The Office of the Comptroller of the Currency today announced a $500,000 civil money penalty against American Express Bank, FSB, for violations of section 5 of the Federal Trade Commission Act and ordered the bank to provide approximately $6 million in restitution to an estimated 17,000 affected customers. www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-137.html

October1, 2012 - FDIC Announces Settlement With American Express Centurion Bank for Unfair and Deceptive Practices in Debt Collection and Credit Card Marketing - The Federal Deposit Insurance Corporation and the Consumer Financial Protection Bureau have reached a settlement with American Express Centurion Bank , Salt Lake City, Utah, for deceptive debt collection and credit card marketing practices, in violation of section 5 of the Federal Trade Commission Act. www.fdic.gov/news/news/press/2012/pr12114.html

October 1, 2012 - Regulatory Reform - Communications with the public through October 1, 2012.  www.federalreserve.gov/newsevents/reform_meetings.htm

October 1, 2012 - Financing Constraints, Firm Dynamics, and International Trade - Stephane Verani and Till Gross - There is growing empirical support for the conjecture that access to credit is an important determinant of firms' export decisions. We study a multi-country general equilibrium economy in which entrepreneurs and lenders engage in long-term credit relationships.  www.federalreserve.gov/pubs/feds/2012/201268/201268pap.pdf

October 1, 2012 - Financial Intermediation, Investment Dynamics and Business Cycle Fluctuations - Andrea Ajello - I use micro data to quantify key features of U.S. firm financing. In particular, I establish that a substantial 35% of firms' investment is funded using financial markets. www.federalreserve.gov/pubs/feds/2012/201267/201267pap.pdf

October 1, 2012 - The Federal Reserve's Balance Sheet and Overnight Interest Rates - Jaime Marquez, Ari Morse, and Bernd Schlusche - This paper provides a  comprehensive study of the interplay between the Federal Reserve's balance sheet and overnight interest rates.   www.federalreserve.gov/pubs/feds/2012/201266/201266pap.pdf

October 1, 2012 - Equity Trading and the Allocation of Market Data Revenue - Cecilia Caglio and Stewart Mayhew - Revenues generated from the sales of consolidated data represent a substantial source of income for U.S. stock exchanges. Until 2007, consolidated data revenue was allocated in proportion to the number of reported trades. www.federalreserve.gov/pubs/feds/2012/201265/201265pap.pdf

October 1, 2012 - The Effect of Self-Reported Transitory Income Shocks on Household Spending - John Sabelhaus and Samuel Ackerman -We use repeated cross-sections of the Survey of Consumer Finances to study the effect of self-reported transitory income shocks on household food spending. The self-reported shocks in the SCF are derived from survey questions about the gap between actual and "normal" income. www.federalreserve.gov/pubs/feds/2012/201264/201264pap.pdf

October 1, 2012 - Profitability and the Lifecycle of Firms - Missaka Warusawitharana - Using data on listed and unlisted firms in the U.K., this study documents that average profitability changes systematically with age. In their early years, firms realize substantial profitability increases, while mature firms face slow declines in profitability. www.federalreserve.gov/pubs/feds/2012/201263/201263pap.pdf

October 1, 2012 - The Anatomy of a Credit Crisis: The Boom and Bust in Farm Land Prices in the United States in the 1920s - Rodney Ramcharan and Raghuram Rajan - Does credit availability exacerbate asset price inflation? What channels could it work through? What are the long run consequences? In this paper we address these questions by examining the farm land price boom (and bust) in the United States that preceded the Great Depression.   www.federalreserve.gov/pubs/feds/2012/201262/201262abs.html

October1, 2012 - Constituencies and Legislation: The Fight over the McFadden Act of 1927 - Rodney Ramcharan and Rajan G. Raghuram - The McFadden Act of 1927 was one of the most hotly contested pieces of legislation in U.S. banking history, and its influence was still felt over half a century later. The act was intended to force states to accord the same branching rights to national banks as they accorded to state banks.  www.federalreserve.gov/pubs/feds/2012/201261/201261abs.html

October 1, 2012 - The Impact of House Prices on Consumer Credit: Evidence From an Internet Bank - Rodney Ramcharan and Christopher Crowe - This paper shows that house price fluctuations can have a significant impact on credit markets well beyond the mortgage segment.   www.federalreserve.gov/pubs/feds/2012/201260/201260pap.pdf

October 1, 2012 - Supervisor Ratings and the Contraction of Bank Lending to Small Businesses - Elizabeth K. Kiser, Robin A. Prager, and Jason R. Scott - Bank lending to small firms in the U.S. fell substantially during the recent financial crisis and the ensuing recession. Because small firms account for a disproportionate share of new job creation, lending to these firms could have important implications for the pace of economic recovery. www.federalreserve.gov/pubs/feds/2012/201259/201259pap.pdf

October 1, 2012 - Availability of Credit to Small Businesses - September 2012 - This report is prepared in accordance with section 2227 of the Economic Growth and Regulatory Paperwork Reduction Act of 1996, which requires that, every five years, the Board of Governors of the Federal Reserve System submit a report to the Congress detailing the extent of small business lending by all creditors. www.federalreserve.gov/publications/other-reports/default.htm

October 1, 2012 - Chairman Ben S. Bernanke - Five Questions about the Federal Reserve and Monetary Policy - At the Economic Club of Indiana, Indianapolis, Indiana.  www.federalreserve.gov/newsevents/speech/bernanke20121001a.htm

October 1, 2012 - Federal Reserve Board issues consent order and order of assessment of a civil monetary penalty against American Express Company and American Express Travel Related Services Company.  www.federalreserve.gov/newsevents/press/enforcement/20121001a.htm