Federal Reserve Board: H.2 Release for Week Ending November 26, 2016; H.4.1 Release (Balance Sheet) for Week Ending December 1, 2016

The Federal Reserve Board (Board) publishes a weekly digest of its activities on its website. The digest is called the H.2 Release and is published every Thursday. The release for the week ending November 26, 2016, is below.

H.2 Release–Actions of the Board, Its Staff, and the Federal Reserve Banks; Applications and Reports Received

Category Action Taken
Regulations and Policies Regulation I (Issue and Cancellation of Federal Reserve Bank Capital Stock) — final rule to change rates paid on dividends to certain Reserve Bank depository institution stockholders.

-Approved, November 3, 2016

(A/C)

Regulations Z (Truth in Lending) and M (Consumer Leasing) — final interagency amendments to official staff interpretations to clarify the method used to determine thresholds for exempting (1) certain consumer credit and lease transactions from the Truth in Lending Act and Consumer Leasing Act, respectively, and (2) certain small loans from the real estate appraisal requirements for higher-priced mortgages, both based on changes in the consumer price index.

-Approved, November 7, 2016

(A/C)

Report on Debit Card Data — biennial report on the 2015 debit card market.

-Approved, November 21, 2016

Federal Reserve Board: Balance Sheet (H.4.1 Release)

The Board publishes data of factors affecting reserve balances. The digest is called the H.4.1 Release, and they are published every Thursday (or the next business day if the publication date falls on a federal holiday). The release for December 1, 2016, is below.

[Note: The blog will cover the line titled “Total Factors Supplying Reserve Funds.”]

H.4.1 Release–Factors Affecting Reserve Balances

Total factors supplying reserve funds (as of November 30, 2016):  $4,491,381 (in millions of dollars). (On September 26, 2007, this amount was $900,473 (in millions of dollars)).

(See the release for further information.)

Federal Reserve Board: H.2 Release for Week Ending November 19, 2016; H.4.1 Release (Balance Sheet) for Week Ending November 25, 2016

The Federal Reserve Board (Board) publishes a weekly digest of its activities on its website. The digest is called the H.2 Release and is published every Thursday. The release for the week ending November 19, 2016, is below.

H.2 Release–Actions of the Board, Its Staff, and the Federal Reserve Banks; Applications and Reports Received

Category Action Taken
Testimony and Statements Economic Outlook — statement by Chair Yellen before the Joint Economic Committee of the U.S. Congress on the current economic outlook and monetary policy.

-Published, November 17, 2016

 

[Hearing]

 

 

Bank Holding Companies BOK Financial Corporation, Tulsa, Oklahoma — to acquire MBT Bancshares, Inc., Kansas City, Missouri, and thereby indirectly acquire Missouri Bank and Trust Company of Kansas City.

-Approved, November 15, 2016

 

Reserve Bank Operations Reserve Bank Post-Employment Restrictions — policy revisions to broaden the scope of post-employment restrictions applicable to Federal Reserve Bank senior examiners and officers.

-Announced, November 18, 2016

 

 

Enforcement J.P. Morgan Chase & Co., New York, New York — issuance of a consent cease and desist order and assessment of a civil money penalty.

-Announced, November 17, 2016

 

 

Federal Reserve Board: Balance Sheet (H.4.1 Release)

The Board publishes data of factors affecting reserve balances. The digest is called the H.4.1 Release, and they are published every Thursday (or the next business day if the publication date falls on a federal holiday). The release for November 25, 2016, is below.

[Note: The blog will cover the line titled “Total Factors Supplying Reserve Funds.”]

H.4.1 Release–Factors Affecting Reserve Balances

Total factors supplying reserve funds (as of November 23, 2016):  $4,511,757 (in millions of dollars). (On September 26, 2007, this amount was $900,473 (in millions of dollars)).

(See the release for further information.)

U.S. Civil Service: Citizens Take a Well-Functioning Civil Service for Granted; GOP’s Plans of Attacking the Civil Service Will Lead to Patronage, Graft–Systematic Corruption

U.S. Civil Service: Citizens Take a Well-Functioning Civil Service for Granted; GOP’s Plans of Attacking the Civil Service Will Lead to Patronage, Graft–Systematic Corruption

According to the Washington Post, the 45th President of the United States, Donald J. Trump, has plans to attack the severely damaged civil service (damaged by constant Congressional criticisms and blame). The people of the United States take a well-functioning civil service for granted. Failed civil service organizations exist in other countries; ironically, it is the United States (through the World Bank) that has been leading a movement against such corruption. Now, with the next president, calls of hypocrisy will come and will be deserved.

When we go to the motor vehicles department for a drivers license, we have to wait, but we expect a drivers license at the end of the process without having to pay a bribe. The same is true to have a judge hear our case in court, for applying for and receiving Social Security benefits, for applying to work for the civil service. All of these examples and more operate well with just our tax money.

Now that the GOP, the Republican party will control all three branches of the federal government (in early 2017), their ideas of “reform” now could be set forth on the remainder of the integrity-filled civil service:

  • Making civil service jobs at will.
  • Replacing the Federal Employees Retirement System with a 401(k)-based system (a failure).
  • End of cost-of living increases.
  • Further restrictions on federal employee unions (already weak because they cannot require membership and cannot strike).

All of these ideas are an abomination and an insult to citizens who enter public service to serve their fellow citizens and residents of the United States; such is never contemplated for those in military service. Further, a billionaire, with autocratic tendencies and a person who–

  • does not pay federal taxes,
  • lives off the largess of the majority of people in the United States,
  • does not have to work to have an income stream,
  • combines his business ventures with the Trump Organization with his responsibilities and power of being the U.S. head of state,

will be the person leading the charge against our civil service.

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In this dangerous time, civil service reform, which will require acceptance from all citizens, cannot be forced through by the GOP alone. Especially, at a time where it is apparent that an autocrat has become president. Energy should be spent on the prevention of systematic corruption.

Civil service protection is needed more than ever, with the next president potentially using his government position as a conduit for his business interests (express or implied). Vigilance is required more than ever.

Firing fellow citizens, civil servants (who also suffer from stagnant wages and sky-high cost-of-living expenses in Washington, D.C.), to satisfy rich people, like the 45th president (who doesn’t pay any federal tax on his $billion) is offensive. Huge changes will have to wait; our very democracy is at severe risk of falling apart.

Government pay is low; most civil servants are thankfully people of integrity and do their jobs for their fellow Americans well. [Conduct issues–refusal to work, etc.–are already handled by regulations.]

These constant attacks on the civil service have done severe damage. Perhaps, if the GOP fulfills its wish and is allowed to break the civil service, and we discover that corrupt people take positions with the purpose of self interest alone (you will have to pay bribes to get a passport (or a tax return processed) on time, for example), we will miss our civil service.

The only thing is, by then, it will be too late. The civil service as we know it would be gone forever.

As citizens, it is our duty to protect our form of government. Research the term “systematic corruption” and “civil service bribery“.

Federal Reserve Board: H.2 Release for Week Ending November 12, 2016; H.4.1 Release (Balance Sheet) for Week Ending November 17, 2016

The Federal Reserve Board (Board) publishes a weekly digest of its activities on its website. The digest is called the H.2 Release and is published every Thursday. The release for the week ending November 12, 2016, is below.

H.2 Release–Actions of the Board, Its Staff, and the Federal Reserve Banks; Applications and Reports Received

Category Action Taken
Bank Holding Companies First Midwest Bancorp, Inc., Itasca, Illinois — to merge with Standard Bancshares, Inc., Hickory Hills, and thereby indirectly acquire Standard Bank and Trust Company; and for First Midwest Bank, Itasca, to merge with Standard Bank and Trust Company, Hickory Hills, and thereby establish branches.

-Approved, November 9, 2016

Forms Forms — final Board review to extend with revision the Uniform Interagency Transfer Agent Registration and Amendment Form (Form TA-1).

-Approved, November 7, 2016

 

Forms — final Board review to extend with revision the Debit Card Issuer Survey (FR 3064a) and to extend without revision the Payment Card Network Survey (FR 3064b).

-Approved, November 7, 2016

Personnel Legal Division — appointment of Alicia Foster and Benjamin McDonough as assistant general counsels.

-Approved, November 7, 2016

Federal Reserve Board: Balance Sheet (H.4.1 Release)

The Board publishes data of factors affecting reserve balances. The digest is called the H.4.1 Release, and they are published every Thursday (or the next business day if the publication date falls on a federal holiday). The release for November 17, 2016, is below.

[Note: The blog will cover the line titled “Total Factors Supplying Reserve Funds.”]

H.4.1 Release–Factors Affecting Reserve Balances

Total factors supplying reserve funds (as of November 16, 2016):  $4,499,557 (in millions of dollars). (On September 26, 2007, this amount was $900,473 (in millions of dollars)).

(See the release for further information.)

Federal Reserve Board: H.2 Release for Week Ending November 5, 2016; H.4.1 Release (Balance Sheet) for Week Ending November 10, 2016

The Federal Reserve Board (Board) publishes a weekly digest of its activities on its website. The digest is called the H.2 Release and is published every Thursday. The release for the week ending November 5, 2016, is below.

H.2 Release–Actions of the Board, Its Staff, and the Federal Reserve Banks; Applications and Reports Received

Category Action Taken
Board Operations Fed History Vision Project — (1) to establish a permanent advisory group to assess materials for historical context and (2) to initiate work to develop implementation plans and cost estimates.

-Approved, November 3, 2016

Personnel Division of International Finance — appointment of Beth Anne Wilson as deputy director; Shaghil Ahmed, Brian Doyle, and Joseph Gruber as associate directors; and James Dahl as deputy associate director.

-Announced, November 3, 2016

Regulations and Policies Consumer Compliance Rating System — publication of Federal Financial Institutions Examination Council revisions of the Uniform Interagency Consumer Compliance Rating System to better reflect current consumer compliance supervisory approaches.

-Approved, November 2, 2016

Enforcement Chicago Shore Corporation, Chicago, Illinois, and Security Chicago Corporation — written agreement with the Federal Reserve Bank of Chicago.

-Announced, November 1, 2016

Fayette County Bank, St. Elmo, Illinois — issuance of a prompt corrective action directive with the consent of the bank.

-Announced, November 3, 2016

 

Federal Reserve Board: Balance Sheet (H.4.1 Release)

The Board publishes data of factors affecting reserve balances. The digest is called the H.4.1 Release, and they are published every Thursday (or the next business day if the publication date falls on a federal holiday). The release for November 10, 2016, is below.

[Note: The blog will cover the line titled “Total Factors Supplying Reserve Funds.”]

H.4.1 Release–Factors Affecting Reserve Balances

Total factors supplying reserve funds (as of November 9, 2016):  $4,500,864 (in millions of dollars). (On September 26, 2007, this amount was $900,473 (in millions of dollars)).

(See the release for further information.)

Federal Reserve Board: H.2 Release for Week Ending October 29, 2016; H.4.1 Release (Balance Sheet) for Week Ending November 3, 2016

The Federal Reserve Board (Board) publishes a weekly digest of its activities on its website. The digest is called the H.2 Release and is published every Thursday. The release for the week ending October 29, 2016, is below.

H.2 Release–Actions of the Board, Its Staff, and the Federal Reserve Banks; Applications and Reports Received

Category Action Taken
Bank Holding Companies River Holding Company, Stoddard, Wisconsin — to merge with Sparta Union Bancshares, Inc., Sparta, and thereby acquire its subsidiary, Union National Bank & Trust Company.

-Approved, October 23, 2016

 

Wintrust Financial Corporation, Rosemont, Illinois — to merge with First Community Financial Corporation, Elgin, and thereby indirectly acquire First Community Bank; and for Wintrust’s subsidiary, St. Charles Bank & Trust Company, St. Charles, to merge with First Community Bank and thereby establish branches.

-Approved, October 27, 2016

Personnel Division of Reserve Bank Operations and Payment Systems — appointment of Paul Bettge as senior adviser, Lawrence Mize as associate director, and Jennifer Chang as deputy associate director, and reassignment of Gregory Evans as senior associate director.

-Announced, October 25, 2016

Regulations and Policies Regulation H (Membership of State Banking Institutions in the Federal Reserve System) — publication for comment of interagency amendments to implement provisions of the Biggert-Waters Act that require regulated lending institutions to accept certain private flood insurance policies in addition to policies made available by the Federal Emergency Management Agency.

-Approved, October 12, 2016

(A/C)

Reserve Bank Services Federal Reserve Priced Services — 2017 private sector adjustment factor and fee schedules for priced services and electronic access.

-Approved, October 24, 2016

Enforcement SouthFirst Bancshares, Inc., Sylacauga, Alabama — written agreement dated September 20, 2012, terminated October 19, 2016.

-Announced, October 27, 2016

Federal Reserve Board: Balance Sheet (H.4.1 Release)

The Board publishes data of factors affecting reserve balances. The digest is called the H.4.1 Release, and they are published every Thursday (or the next business day if the publication date falls on a federal holiday). The release for November 3, 2016, is below.

[Note: The blog will cover the line titled “Total Factors Supplying Reserve Funds.”]

H.4.1 Release–Factors Affecting Reserve Balances

Total factors supplying reserve funds (as of November 2, 2016):  $4,498,984 (in millions of dollars). (On September 26, 2007, this amount was $900,473 (in millions of dollars)).

(See the release for further information.)

Harvard Business Review and Dick Grote: A Management Consultant that Loves the Process of Termination, Dehumanizing Human Employees; Review of Grote’s Article– “A Step-by-Step Guide to Firing Someone”

Grote, Dick (2016). “A Step-by-Step Guide to Firing Someone.” Harvard Business Review. February 17.

rank_yank
Artist: michael sloan

Harvard Business Review has published another article on mass termination, specifically this document of Dick Grote, “A Step-by-Step Guide to Firing Someone.”

The writing is not different from the theme of his writings: that organizations should rank employees into A, B, and C buckets and humiliate, dehumanize, and fire those placed in the C bucket (see Grote’s quote , below, for an example).

Bucket

 (rank)

Percentage (amounts can be adjusted) Effect
A 20 Lavish rewards, encouragement
B 70 Little to paltry increase
C (aka slackers, slouches, losers, ne’er-do-wells) 10 Pressure to quit or firing

The report is like a recipe of planning destruction in an organized way (creating a transition plan; checking that the employee is not fired on a birthday, shortly before a pension is vested, and so on) making it seem normal, but the effect of the employee losing his or her livelihood and income stream is notably absent.

The immoral notion that human beings can be acquired, used up, demeaned, and then thrown away pervades the report. The notion that management persons are perfect by virtue of their position alone is illogical.

Here is an example of the mindset of Grote that informs his “advice” to disregard an employee’s humanity (and how he can discern what other people feel about his stealthy firing tactics always mystifies me; his pawns example people always agree with him (!)):

Actually, when slackers and slouches are finally fired, managers usually discover that coworkers are relieved. Their peers are the ones who have had to work harder to make up for their shortcomings and slacking off. When terminations are well justified and professionally executed, the rest of the work group realizes that this is a good place to work.

But when obvious losers and occupational ne’er-do-wells are allowed to continue in their positions unchallenged, the message to the talented and energetic is that this is a place to avoid. Those who can find other jobs leave; the ones who stay are those who prefer an employer with low standards.

A final note: The most common problem with terminations is that they don’t happen as fast as they should. Once the decision has been made to pull the plug and start over, don’t dillydally in the misguided hope that — somehow — things may still work out. They never do. Remember: It’s not the people you fire who make your life miserable. It’s the ones you don’t.

Organizations using any procedure promoted by Grote must be aware of his pedigree and the organizational failures that have resulted from using forced ranking (notably the former Enron but also other organizations covered in this blog, the Federal Reserve Board, Amazon, Microsoft, Vanguard, Mount St. Mary’s University, Yahoo).

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