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.)

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):


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.)