Federal Reserve Board: H.2 Release for Week Ending January 20, 2018; H.4.1 Release (Balance Sheet) for Week Ending January 25, 2018; Four Of Note Items


Of Note– 

(1) Website information disarray. The Board has a website with a lot of information on it, but woe be to the person trying to find information on it. The website is logically disorganized and the website is designed like a maze.

Comment:  This is simply unacceptable for an agency that says it is trying to be transparent.

For example, I tried in vain to find the reports listed on the H.2 Release (below) and was unable to see them on the website. The H.2 should have links to relevant materials.

(2) The shutdown flub (as designed). U.S. Senator Charles Schumer‘s (D-N.Y.), failed strategy is the effect of big-dollar donors. People who cannot donate a lot of money are ignored, a result that emphasizes oligarchy.

 

800px-Paris_Tuileries_Garden_Facepalm_statue
paris_tuileries_garden_facepalm_statue

 

(3) Economists’ bizarre expectations: Janet Yellen, the FOMC, NAIRU, and high unemployment. To the dissatisfaction to people who are underemployed or unemployed, the Board, through its projections, favors higher unemployment (fearing inflation)! See the column by Matthew C. Klein in the Financial Times (paywall).

Something to consider when Board economists proclaim the Board’s “dual mandate,” maximum employment and stable interest rates. The people of the United States would expect that there would be enough available jobs for all who want them. That is, unemployment as close to zero percent as possible.

(4) Jerome Powell, attorney and financier, to lead the Board. The Senate confirmed the Board’s new Chair, Jerome Powell. Janet Yellen’s term as Board Chair ends on February 3, 2018.

Interesting fact: Powell graduated from Georgetown Preparatory School, Rockville, Maryland.

net worth fed chairs


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 20, 2018, 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 — final Board review to extend without revision the Reporting, Recordkeeping, and Disclosure Requirements Associated with the Guidance on Response Programs for Unauthorized Access to Customer Information (FR 4100).
-Approved, January 17, 2018
Forms — initial Board review to extend with revision the Margin Credit Reports related to extensions of credit secured by margin stock (FR G-1, FR G-2, FR G-3, FR G-4, FR T-4, and FR U-1).
-Proposed, January 17, 2018
Forms — initial Board review to extend without revision the Recordkeeping Requirements Associated with Limitations on Interbank Liabilities (Regulation F).
-Proposed, January 17, 2018
Forms — final Board review to extend with revision the Financial Statements of U.S. Nonbank Subsidiaries of U.S. Holding Companies (FR Y-11), Abbreviated Financial Statements of U.S. Nonbank Subsidiaries of U.S. Holding Companies (FR Y-11S), Financial Statements of Foreign Subsidiaries of U.S. Banking Organizations (FR 2314), and Abbreviated Financial Statements of Foreign Subsidiaries of U.S. Banking Organizations (FR 2314S).
-Approved, January 18, 2018
Forms — final Board review to revise without extension the Structure Reporting Requirements for Domestic and Foreign Banking Organizations (FR Y-6, FR Y-7,  FR Y-10, and FR Y-10E).
-Approved, January 18, 2018
Forms — final Board review to extend without revision the Recordkeeping Requirements Associated with the Real Estate Lending Standards Regulation for State Member Banks (Reg H-5).
-Approved, January 17, 2018 
Personnel Division of Supervision and Regulation — appointment of Karen Caplan, Keith Coughlin, and Vaishali Sack as assistant directors.
-Approved, January 12, 2018
(A/C)
Regulations and Policies Reports to Congress — (1) interagency report to Congress on capital and accounting differences among the federal banking agencies as of September 30, 2017, and (2) report to Congress regarding the Board’s implementation of enhanced prudential standards under section 165 of the Dodd-Frank Act.
-Approved, December 26, 2017
(A/C)
Enforcement Heartland Bank, Little Rock, Arkansas — termination of a prompt-corrective-action directive issued on August 15, 2017.
-Approved, January 16, 2018

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 January 25, 2018, 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 January 24, 2018):  $4,488,523 (in millions of dollars). (On September 26, 2007, this amount was $900,473 (in millions of dollars)).

 

(See the release for further information.)

 

Advertisements

What is your opinion?

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s