Federal Reserve Board: H.2 Release for Week Ending February 18, 2017; H.4.1 Release (Balance Sheet) for Week Ending February 23, 2017; Recap of MPR Hearings

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 February 18, 2017, 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 Monetary Policy — statement by Chair Yellen before the Senate Committee on Banking, Housing, and Urban Affairs on February 14 and the House Committee on Financial Services on February 15, 2017, on the semiannual monetary policy report to the Congress.

-Published, February 14, 2017

Monetary and Financial Policy Term Deposit Facility — floating-rate offering of seven-day term deposits with an early withdrawal feature, same-day settlement, and a maximum tender amount of $1 billion on February 23, 2017.

-Announced, February 16, 2017

Savings and Loan Holding Companies John Deere Financial, f.s.b., Madison, Wisconsin — request for an exception from anti-tying restrictions of the Home Owners’ Loan Act in order to continue to offer promotional financing arrangements through its private-label credit cards to customers who purchase products manufactured by its affiliates.

-Granted, February 14, 2017

Enforcement West Tennessee Bancshares, Bartlett, Tennessee, and Bank of Bartlett — written agreement dated October 22, 2009, terminated February 13, 2017.

-Announced, February 16, 2017

House of Representatives–


Related: Federal Open Market Committee members (in 2011 transcripts) laughed at the struggles of the unemployed. (Note: Janet Yellen, then President of the San Francisco Federal Reserve Bank, was present at the meeting.)

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The handless facepalm

Monetary Policy Report, February 2017

The Monetary Policy Report hearings for February 2017 were held on February 14 and 15.

U.S. House of Representatives U.S. Senate
February 15, 2017, 10:00 a.m., House Financial Services Committee February 14, 2017, 10:00 a.m., Senate Banking Committee
Press release: http://financialservices.house.gov/calendar/eventsingle.aspx?EventID=401494 Press release: http://www.banking.senate.gov/public/index.cfm/hearings?ID=BC31D43D-6173-4FE5-860E-090DACC47788
Testimony transcript (for both House and Senate):

https://www.federalreserve.gov/newsevents/testimony/yellen20170214a.htm

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 February 23, 2017, 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 February 22, 2017):  $4,514,625 (in millions of dollars). (On September 26, 2007, this amount was $900,473 (in millions of dollars)).

(See the release for further information.)

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Federal Reserve Board: H.2 Release for Week Ending February 11, 2017; H.4.1 Release (Balance Sheet) for Week Ending February 16, 2017

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 February 11, 2017, 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 Anchor Bancshares, Inc., Houston, Texas — to become a bank holding company by acquiring First Bancshares of Texas, Inc., McGregor, and thereby indirectly acquire Security Bank of Crawford, Crawford.

-Approved, February 7, 2017

Central Bancompany, Inc., Jefferson City, Missouri — to acquire Bank Star One, Fulton.

-Approved, February 7, 2017

Personnel Management Division — appointment of Catherine Jack as assistant director.

-Announced, February 7, 2017

Enforcement Raton Capital Corporation, Raton, New Mexico — written agreement dated July 10, 2015, terminated February 3, 2017.

-Announced, February 9, 2017

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 February 16, 2017, 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 February 15, 2017):  $4,500,882 (in millions of dollars). (On September 26, 2007, this amount was $900,473 (in millions of dollars)).

(See the release for further information.)

Monetary Policy Report, February 2017

The Monetary Policy Report hearings for February 2017 were held on February 14 and 15.

U.S. House of Representatives U.S. Senate
February 15, 2017, 10:00 a.m., House Financial Services Committee February 14, 2017, 10:00 a.m., Senate Banking Committee
Press release: http://financialservices.house.gov/calendar/eventsingle.aspx?EventID=401494 Press release: http://www.banking.senate.gov/public/index.cfm/hearings?ID=BC31D43D-6173-4FE5-860E-090DACC47788
Testimony transcript (for both House and Senate):

 

https://www.federalreserve.gov/newsevents/testimony/yellen20170214a.htm

The Monetary Policy Report had a box on the recovery for the Great Recession and its aftermath on pages 6-8. This information is an important addition to the report, especially since the recovery is not affecting all segments of society in the same way. However, thoughts and policy must remain with the long-term unemployed and the underemployed. As long as one person suffering from these events, the recovery is not complete.

Federal Reserve Board: H.2 Release for Week Ending February 4, 2017; H.4.1 Release (Balance Sheet) for Week Ending February 9, 2017

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 February 4, 2017, is below.

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

Category Action Taken
Bank Mergers Farmers Bank & Capital Trust Company, Frankfort, Kentucky — to merge with United Bank & Trust Company, Versailles; First Citizens Bank, Inc., Elizabethtown; and Citizens Bank of Northern Kentucky, Inc., Newport; and to retain the acquired facilities as branches.

-Approved, February 2, 2017

Personnel Division of Supervision and Regulation — appointment of Ann McKeehan as adviser.

-Approved, January 27, 2017

(A/C)

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 February 9, 2017, 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 February 8, 2017):  $4,502,514 (in millions of dollars). (On September 26, 2007, this amount was $900,473 (in millions of dollars)).

(See the release for further information.)

Monetary Policy Report, February 2017

The Monetary Policy Report hearings for February 2017 will be held this week.

U.S. House of Representatives U.S. Senate
February 15, 2017, 10:00 a.m., House Financial Services Committee February 14, 2017, 10:00 a.m., Senate Banking Committee
Press release: http://financialservices.house.gov/calendar/eventsingle.aspx?EventID=401494 Press release: http://www.banking.senate.gov/public/index.cfm/hearings?ID=BC31D43D-6173-4FE5-860E-090DACC47788

Federal Reserve Board: Monetary Policy Report Congressional Hearings to be Held February 14 and 15, 2017

Monetary Policy Report, February 2017

The Monetary Policy Report hearings for February 2017 will be held next week.

U.S. House of Representatives

U.S. Senate

February 15, 2017, 10:00 a.m., House Financial Services Committee

February 14, 2017, 10:00 a.m., Senate Banking Committee

Press release: http://financialservices.house.gov/calendar/eventsingle.aspx?EventID=401494

Press release: http://www.banking.senate.gov/public/index.cfm/hearings?ID=BC31D43D-6173-4FE5-860E-090DACC47788

Federal Reserve Board: H.2 Release for Week Ending January 28, 2017; H.4.1 Release (Balance Sheet) for Week Ending February 2, 2017

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 January 28, 2017, is below.

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

Category Action Taken
Forms Forms — initial Board review to extend without revision the Generic Clearance for Surveys of Consumer and Community Affairs Publications and Resources (FR 1378), Generic Clearance for Consumer and Stakeholder Surveys (FR 3073), Report of Net Debit Cap (FR 2226), Ad Hoc Payments Systems Survey (FR 3054a), Currency Quality Sampling Survey (FR 3054b), Currency Quality Survey (FR 3054c), and Currency Functionality and Perception Survey (FR 3054d).

-Proposed, January 23, 2017

 

Personnel Division of Financial Management — appointment of Andrew Leonard as senior adviser.

-Announced, January 24, 2017

 

Division of Financial Stability — appointment of Michael Kiley as deputy director and Rochelle Edge and John Schindler as associate directors.

-Announced, January 23, 2017

 

 

Regulations and Policies Capital Plan and Stress Test Rules — final rule regarding changes to the annual Comprehensive Capital Analysis and Review (CCAR) to take into account differing expectations for sound capital planning depending on the size, scope of operations, activity, and systemic risk profile of banking organizations, effective for the 2017 CCAR cycle.

-Approved, January 23, 2017

 

Reserve Bank Operations Federal Reserve Bank of Minneapolis — appointment of Ron J. Feldman as first vice president.

-Approved, January 24, 2017

Enforcement BB&T Corporation, Winston-Salem, North Carolina — issuance of a consent cease-and-desist order.

-Announced, January 27, 2017

 

NongHyup Bank, Seoul, Korea; and NongHyup Bank, New York Branch, New York, New York — written agreement with the Federal Reserve Bank of New York.

-Announced, January 26, 2017

 

 

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 February 2, 2017, 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 February 1, 2017):  $4,500,145 (in millions of dollars). (On September 26, 2007, this amount was $900,473 (in millions of dollars)).

(See the release for further information.)