Federal Reserve Board: H.2 Release for Week Ending May 11, 2018; H.4.1 Release (Balance Sheet) for Week Ending May 16, 2019

Of Note–

(1) The Federal Reserve Board removed the Artis v. Greenspan Bernanke Yellen case from its list of legal developments. The Artis case has ended; the lessons from it are everlasting.

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Comment: The Board should not expect in the Internet age that it will have the last word.  The Board thinks that it can delete information from its convoluted webpage and the “people” will just forget. This is nonsensical.

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The last word belongs, always, to Walter Charlton, Artis counsel, and the Artis plaintiffs. To that end, I have a section on the blog for the Artis case.


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 May 11, 2019, 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 Reporting, Recordkeeping, and Disclosure Requirements Associated with Regulation NN (FR NN).

-Proposed, May 7, 2019

 

Forms — final Board review to extend without revision the Recordkeeping Requirements of Regulation H and Regulation K Associated with the Procedures for Monitoring Bank Secrecy Act Compliance (FR K).

-Approved, May 7, 2019

 

Forms — final Board review to extend with revision the Application to Become a Savings and Loan Holding Company or to Acquire a Savings Association or Savings and Loan Holding Company (FR LL 10(e)).

-Approved, May 7, 2019

 

Forms — final Board review to extend with revision the Suspicious Activity Report (FR 2230).

-Approved, May 7, 2019

 

Forms — initial Board review to extend without revision the Recordkeeping Provisions Associated with the Interagency Statement on Complex Structured Finance Activities (FR 4022).

-Proposed, May 7, 2019

 

Monetary and Financial Policy Financial Stability Report — publication of the semiannual report presenting the Board’s assessment of financial stability conditions.

-Published, May 6, 2019

 

 

Personnel Division of International Finance — appointment of Joseph W. Gruber as deputy director and Matteo Iacoviello and Andrea Raffo as deputy associate directors.

-Announced, May 9, 2019

 

Regulations and Policies Secure and Fair Enforcement for Mortgage Licensing Act (S.A.F.E. Act) — final rule to repeal the regulations incorporating the S.A.F.E. Act, which have been superseded by a final rule issued by the Bureau of Consumer Financial Protection.

-Approved, May 7, 2019

 

Reserve Bank Services Enhanced Same-Day Automated Clearing House (ACH) Service — publication for comment of (1) potential modifications to the operating hours of the Federal Reserve Banks’ National Settlement Service and Fedwire Funds Service to support enhancements to the same-day ACH service; and (2) corresponding changes to the Federal Reserve Policy on Payment System Risk.

-Approved, May 7, 2019

 

Supervision and Regulation Supervision and Regulation Report — publication of the semiannual report summarizing banking conditions and the Board’s current and ongoing supervisory and regulatory activities.

-Published, May 10, 2019

 

Enforcement First American Bancorp, Greenwood Village, Colorado — written agreement dated August 20, 2010, terminated May 3, 2019.

-Announced, May 7, 2019

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 May 16, 2019, 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 May 15, 2019):  $3,912,691 (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 May 4, 2018; H.4.1 Release (Balance Sheet) for Week Ending May 9, 2019

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 April 27, 2019, 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 with revision the Central Bank Survey of Foreign Exchange and Derivatives Market Activity (FR 3036).

-Approved, April 23, 2019

 

Forms — initial Board review to extend with revision the Notice Claiming Status as an Exempt Transfer Agent (FR 4013).

-Proposed, April 23, 2019

Regulations and Policies Determination of Control Over Banking Organizations — publication for comment of a notice of proposed rulemaking to simplify and increase the transparency of rules for determining control of a banking organization.

-Approved, April 23, 2019

Enforcement Sumitomo Mitsui Banking Corporation, Tokyo, Japan; and Sumitomo Mitsui Banking Corporation, New York Branch, New York, New York — written agreement with the Federal Reserve Bank of New York.

-Announced, April 25, 2019

 

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 May 2, 2019, 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 May 1, 2019):  $3,937,421 (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 April 27, 2019; H.4.1 Release (Balance Sheet) for Week Ending May 2, 2019


Of Note

The composition of the Atlanta Federal Reserve Banks board of directors is on the blog.


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 April 27, 2019, 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 with revision the Central Bank Survey of Foreign Exchange and Derivatives Market Activity (FR 3036).

-Approved, April 23, 2019

 

Forms — initial Board review to extend with revision the Notice Claiming Status as an Exempt Transfer Agent (FR 4013).

-Proposed, April 23, 2019

Regulations and Policies Determination of Control Over Banking Organizations — publication for comment of a notice of proposed rulemaking to simplify and increase the transparency of rules for determining control of a banking organization.

-Approved, April 23, 2019

Enforcement Sumitomo Mitsui Banking Corporation, Tokyo, Japan; and Sumitomo Mitsui Banking Corporation, New York Branch, New York, New York — written agreement with the Federal Reserve Bank of New York.

-Announced, April 25, 2019

 

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 May 2, 2019, 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 May 1, 2019):  $3,937,421 (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 April 20, 2018; H.4.1 Release (Balance Sheet) for Week Ending April 25, 2019

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 April 20, 2019, 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 implement the Report of Institution-to-Aggregate Granular Data on Assets and Liabilities on an Immediate Counterparty Basis (FR 2510).

-Approved, April 15, 2019

 

Forms — initial Board review to extend without revision the Written Security Program for State Member Banks (FR 4004).

-Proposed, April 15, 2019

 

Forms — final Board review to extend without revision the Registration of a Securities Holding Company (FR 2082).

-Approved, April 15, 2019

 

Forms — initial Board review to extend with revision the Reporting Requirements Associated with Regulation Y (Extension of Time to Conform to the Volcker Rule) (FR Y-1).

-Proposed, April 15, 2019

 

Regulations and Policies Capital Rule — publication for comment of an interagency proposed rule to modify a capital requirement for banking organizations predominantly engaged in custodial activities, in accordance with the Economic Growth, Regulatory Relief, and Consumer Protection Act.

-Approved, April 11, 2019

(A/C)

 

Enforcement BB&T Corporation, Winston-Salem, North Carolina — cease-and-desist order dated January 25, 2017, terminated April 17, 2019.

-Announced, April 18, 2019

 

Princeton Capital Holdings LLC, Ewing, New Jersey; Princeton Capital LLC; and PrinCap Holdings One LLC — written agreement with the Federal Reserve Bank of Philadelphia.

-Announced, April 16, 2019

 

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 April 25, 2019, 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 April 24, 2019):  $3,976,256 (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 April 13, 2018; H.4.1 Release (Balance Sheet) for Week Ending April 18, 2019

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 April 13, 2019, 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 Semiannual Report of Derivatives Activity (FR 2436).

-Proposed, April 10, 2019

 

Forms — initial Board review to extend without revision the Senior Credit Officer Opinion Survey on Dealer Financing Terms (FR 2034).

-Proposed, April 9, 2019

 

Regulations and Policies Collection of Debts — final rule to provide for collection of outstanding debts owed to the Board, primarily by referral to the U.S. Department of the Treasury.

-Approved, April 8, 2019

 

Prudential Standards and Resolution Plans — publication for comment of notices of proposed rulemaking on enhanced prudential standards for foreign banks and resolution-plan requirements for foreign and domestic banks.

-Approved, April 8, 2019

 

Enforcement Standard Chartered plc, London, United Kingdom; Standard Chartered Bank; and Standard Chartered Bank, New York Branch, New York, New York — issuance of a consent cease-and-desist order and assessment of a civil money penalty for unsafe and unsound practices relating to inadequate sanctions controls and failure to disclose sanctions risks.

-Approved, April 8, 2019

 

UniCredit S.p.A., Milan, Italy; UniCredit Bank AG, Munich, Germany; and UniCredit Bank Austria AG, Vienna, Austria — issuance of a consent cease-and-desist order and assessment of a civil money penalty for unsafe and unsound practices relating to U.S. sanctions laws.

-Approved, April 9, 2019

 

 

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 April 18, 2019, 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 April 17, 2019):  $3,979,736 (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 April 6, 2018; H.4.1 Release (Balance Sheet) for Week Ending April 11, 2019


Of Note

(1) Jamie Dimon, billionaire, clueless (deliberately obtuse) on how to live on a J. P. Morgan Chase teller salary (about $35,000, with a -$500 monthly shortfall after paying expenses). Dimon’s salary-$31,000,000.

 

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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 April 6, 2019, 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 with revision the Market Risk Capital Rule (FR 4201).

-Proposed, April 2, 2019

 

Forms — initial Board review to extend with revision the Reporting Requirements Associated with Supervision and Regulation Assessments of Fees (Regulation TT) (FR TT).

-Proposed, April 2, 2019

 

Forms — initial Board review to extend without revision the Recordkeeping and Disclosure Requirements Associated with Regulation II (Debit Card Interchange Fees and Routing) (FR II).

-Proposed, April 2, 2019

 

Forms — initial Board review to extend with revision the Recordkeeping and Disclosure Requirements Associated with the Bureau of Consumer Financial Protection’s Regulation E (Electronic Fund Transfers) (FR E).

-Proposed, April 5, 2019

 

Forms — initial Board review to extend without revision the Investment in Bank Premises Notification (FR 4014).

-Proposed, April 5, 2019

 

Personnel Division of International Finance — appointment of Brett Berger as adviser.

-Approved, April 2, 2019

 

 

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 April 11, 2019, 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 April 10, 2019):  $3,984,738 (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 30, 2018; H.4.1 Release (Balance Sheet) for Week Ending April 4, 2019

Of Note

(1) Update–The Backsliding Board on Diversity and Inclusion. (Note: A more-detailed analysis of this report was posted to the blog.) I am extremely disappointed (yet unsurprised) with the leadership of Jerome Powell. He is a multimillionaire who does not care (except for the interests of the rich and powerful).

The Board released its 2019 Office of Minority and Women Inclusion Report to Congress.

Comment from the analytical post: According to the report, Powell stated that he would take personal interest in diversity and inclusion. (On this, I am uncertain as to the Chairman’s sincerity because his portfolio on diversity and inclusion is thin (no speeches, some town hall (no transcript available to the public), and a video on the Board’s website), and a paragraph that describes how Sheila Clark meets with the chairman, the chief operating officer, the chief human capital officer and senior leadership to discuss EEO, diversity and inclusion, which was in the 2018 report (page 7, fourth full paragraph, right column), was removed from the 2019 report.

 

 

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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 30, 2019, is below.

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

Category Action Taken
Personnel Division of Reserve Bank Operations and Payment Systems — appointment of Jennifer Liu, Jennifer Lucier, and David Mills as associate directors; Tim Maas as deputy associate director; Casey Clark, Jason Hinkle, and Nicholas Trotta as assistant directors and managers; and Mark Manuszak as assistant director and chief.

-Announced, March 25, 2019

 

Office of the Chief Operating Officer — appointment of Patrick McClanahan as chief operating officer.

-Approved, March 29, 2019

Regulations and Policies Federal Reserve Policy on Payment System Risk — amendments to part II of the Federal Reserve Policy on Payment System Risk concerning intraday credit provided by the Federal Reserve Banks to U.S. branches and agencies of foreign banking organizations.

-Approved, March 21, 2019

(A/C)

Office of Minority and Women Inclusion — 2018 annual report to Congress, in accordance with the Dodd-Frank Act.

-Published, March 29, 2019

 

Regulation Q (Capital Adequacy of Bank Holding Companies, Savings and Loan Holding Companies, and State Member Banks) — publication for comment of an interagency notice of proposed rulemaking to (1) require advanced approaches banking organizations to deduct from their regulatory capital certain investments in long-term debt issued by global systemically important banking organizations in order to reduce both interconnectedness within the financial system and systemic risk, and (2) modify related reporting requirements.

-Approved, March 21, 2019

(A/C)

 

Supervision and Regulation Flood-Related Supervisory Practices — interagency statement on supervisory practices regarding financial institutions and their customers affected by flooding in the Midwest.

-Announced, March 25, 2019

 

Resolution Plans — issuance of joint letters with the Federal Deposit Insurance Corporation to 14 domestic large banking organizations (1) to issue expectations for their next resolution-plan submissions, (2) to inform Northern Trust Corporation that the shortcomings in its 2015 resolution plan have been satisfactorily addressed, and (3) to move the date for the next resolution-plan submission by Discover Financial Services to December 31, 2019.

-Approved, March 21, 2019

(A/C)

Stress Testing — release of additional information on the Board’s stress testing program, including changes intended to increase the transparency of its stress tests without compromising its ability to test the resiliency of the nation’s largest banks.

-Announced, March 28, 2019

 

Enforcement Barclays Bank PLC, New York Branch, New York, New York — issuance of an order granting parties’ joint motion to temporarily stay proceedings in the Board’s enforcement action against Peter Little, a former institution-affiliated party, pending assignment of an administrative law judge.

-Approved, March 14, 2019

(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 April 4, 2019, 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 April 3, 2019):  $3,983,167 (in millions of dollars). (On September 26, 2007, this amount was $900,473 (in millions of dollars)).

(See the release for further information.)