Federal Reserve Board: H.2 Release for Week Ending March 18, 2017; H.4.1 Release (Balance Sheet) for Week Ending March 23, 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 March 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
Bank Holding Companies Cathay General Bancorp, Los Angeles, California — to acquire SinoPac Bancorp, Los Angeles, and thereby indirectly acquire Far East National Bank.

-Approved, March 17, 2017

 

People’s United Financial, Inc., Bridgeport, Connecticut — to merge with Suffolk Bancorp, Riverhead, New York, and thereby indirectly acquire Suffolk County National Bank of Riverhead.

-Approved, March 13, 2017

 

Regulations and Policies Regulatory Burden Reduction — interagency report to Congress on the review of regulatory burden, pursuant to the Economic Growth and Regulatory Paperwork Reduction Act.

-Approved, March 9, 2017

(A/C)

 

Enforcement J.P. Morgan Securities (Asia Pacific) Limited, Hong Kong, China — issuance of notices of intent to prohibit and notices of assessment of civil money penalties against Fang Fang and Timothy Fletcher, former institution-affiliated parties.

-Approved, March 9, 2017

 

Platte Valley Bank, Scottsbluff, Nebraska — issuance of a consent order of assessment of a civil money penalty.

-Announced, March 7, 2017

 

Of Note: The International Monetary Fund Warned the United States about Its High Rate of Poverty

 

On June 22, 2016, the International Monetary Fund (IMF) warned the United States about a high rate of poverty despite an overall strong economy. Forty percent of those in poverty work.

There is an urgent need to tackle poverty. In the latest data, 1 in 7 Americans is living in poverty, including 1 in 5 children and 1 in 3 female-headed households. Around 40 percent of those in poverty are working. A more generous earned income tax credit (including eligibility for workers without dependents, those under 25, and older workers that are not yet eligible for social security) combined with a higher federal minimum wage would help alleviate poverty.”

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 March 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 March 22, 2017):  $4,524,545 (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 March 11, 2017; H.4.1 Release (Balance Sheet) for Week Ending March 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 March 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
Reserve Bank Operations Federal Reserve Bank of Atlanta — appointment of Raphael W. Bostic as president, effective June 5, 2017.

-Approved, March 9, 2017

Enforcement J.P. Morgan Securities (Asia Pacific) Limited, Hong Kong, China — issuance of notices of intent to prohibit and notices of assessment of civil money penalties against Fang Fang and Timothy Fletcher, former institution-affiliated parties.

-Approved, March 9, 2017

Platte Valley Bank, Scottsbluff, Nebraska — issuance of a consent order of assessment of a civil money penalty.

-Announced, March 7, 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 March 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 March 15, 2017):  $4,515,913 (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 March 4, 2017; H.4.1 Release (Balance Sheet) for Week Ending March 9, 2017; Dr. Raphael Bostic Appointed to Lead Atlanta Fed

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 March 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
Banking Supervision and Regulation Morgan Stanley, New York, New York — non-objection to a resubmitted capital plan in connection with the 2016 Comprehensive Capital Analysis and Review.

-Announced, March 2, 2017

Personnel Office of the Secretary — appointment of Ann Misback as Secretary of the Board and Robert Frierson as senior adviser, effective April 2, 2017.

-Approved, February 27, 2017

Enforcement Bank of Montreal, Montreal, Canada; BMO Financial Corporation, Wilmington, Delaware; and Bank of Montreal Chicago Branch, Chicago, Illinois — written agreement dated April 29, 2013, terminated February 24, 2017.

-Announced, February 28, 2017

2017-1913=104 Years in the Making–Dr. Raphael Bostic to Lead Atlanta Federal Reserve Bank

 

Dr. Raphael Bostic, president and chief executive officer of the Atlanta Federal Reserve Bank (effective 6-5-17)

Raphael Bostic, Ph.D, named president and chief executive officer of the Federal Reserve Bank of Atlanta. Appointment is effective June 5, 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 March 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 March 8, 2017):  $4,505,693 (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 25, 2017; H.4.1 Release (Balance Sheet) for Week Ending March 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 February 25, 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 Branches, Domestic PlainsCapital Bank, Dallas, Texas — to establish branches at One Cowboys Way, Frisco, and 6635 Cowboys Way.

-Approved, February 23, 2017

Bank Holding Companies F.N.B. Corporation, Pittsburgh, Pennsylvania — to merge with Yadkin Financial Corporation, Raleigh, North Carolina, and thereby indirectly acquire Yadkin Bank, Statesville.

-Approved, February 23, 2017

Regulations and Policies Regulation I (Issue and Cancellation of Federal Reserve Bank Capital Stock) — final rule to apply an inflation adjustment to the asset threshold at which banks are subject to different dividend rates for their Federal Reserve Bank stock.

-Announced, February 22, 2017

Enforcement Commerce Bancshares, Inc., Nolensville, Tennessee — written agreement dated February 8, 2012, terminated February 21, 2017.

-Announced, February 23, 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 March 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 March 1, 2017):  $4,504,274 (in millions of dollars). (On September 26, 2007, this amount was $900,473 (in millions of dollars)).

(See the release for further information.)