Federal Reserve Board: H.2 Release for Week Ending August 3, 2019; H.4.1 Release (Balance Sheet) for Week Ending August 8, 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 August 3, 2019, is below.

H.2 Release–Action 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 Reporting and Disclosure Requirements Related to Securities of State Member Banks as Required by Regulation H (FR H-1).

-Proposed, August 1, 2019

 

Forms — initial Board review to extend with revision the Interchange Transaction Fees Surveys (FR 3064a and FR 3064b).

-Proposed, August 1, 2019

 

Forms — final Board review to extend with revision the information collections associated with the Market Risk Capital Rule (FR 4201).

-Approved, August 1, 2019

 

Forms — initial Board review to extend with revision the Savings and Loan Holding Company Registration Statement (FR LL-10(b)).

-Proposed, August 2, 2019

 

Forms — initial Board review to extend with revision the Notice of Mutual Holding Company Reorganization (FR MM-10(o)-1), Application for Approval of a Stock Issuance by a Subsidiary Holding Company of a Mutual Holding Company (FR MM-10(o)-2), Application for Conversion of a Mutual Holding Company to Stock Form (FR MM-AC), Proxy Statement (FR MM-PS), Offering Circular (FR MM-OC), and Order Form (FR MM-OF).

-Proposed, August 2, 2019

 

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

-Approved, August 2, 2019

 

Forms — final Board review to extend without revision the filing requirements associated with the Investment in Bank Premises Notification (FR 4014).

-Approved, August 2, 2019

 

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

-Approved, August 2, 2019

 

Forms — final Board review to extend without revision the Reporting, Recordkeeping, and Disclosure Requirements Associated with Regulation NN (FR NN).

-Approved, August 2, 2019

 

Forms — final Board review to extend with revision the Request for Extension of Time to Dispose of Assets Acquired in Satisfaction of Debts Previously Contracted (FR 4006).

-Approved, August 2, 2019

 

Forms — initial Board review to extend with revision the Notice by Financial Institutions of Government Securities Broker or Government Securities Dealer Activities (Form G-FIN) and Notice by Financial Institutions of Termination of Activities as a Government Securities Broker or Government Securities Dealer (Form G-FINW).

-Proposed, August 2, 2019

Regulations and Policies Faster Payments — publication for comment of a notice (1) on all aspects of an interbank round-the-clock real-time payment and settlement service (the FedNow Service) to support faster payments in the United States and (2) exploring expanded operating hours for the Fedwire Funds Service and National Settlement Service.

-Approved, August 2, 2019

Supervision and Regulation The PNC Financial Services Group, Inc., Pittsburgh, Pennsylvania — request for a partial exemption from the definition of “credit exposure” for purposes of the Board’s rule on single-counterparty credit limits.

-Approved, July 30, 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 August 8, 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 August 7, 2019):  $3,829,626 (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 July 27, 2019; H.4.1 Release (Balance Sheet) for Week Ending August 1, 2019

Of note

Federal Reserve “Openness”: The New York Times had an article about the Federal Reserve’s actions to connect with average workers. As the article notes the so-called great top-line numbers ignore the pain of those left out from the labor market. Their jobs were sent to other countries and the many of the high-paying jobs available require extremely specialized and unique skills.

What does the Federal Reserve Do?

  • Put out the pride flag outside some Federal Reserve Banks.
  • Jerome Powell decides to be referred to as “Chair.”
  • The FOMC has members who are gay, one black member, five women, and one with Indian heritage, the article notes. All good, but what policy will this produce? Will the Fed finally deliver for the nonrich? I highly doubt it.

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I am skeptical if the Federal Reserve is serious. The so-called policymakers are mostly the wealthy and powerful; this initiative is mere window dressing. There is absolutely no mention of the aftermath of Artis v. Greenspan. Therefore, the Federal Reserve is not serious.

Chair Powell and the Federal Reserve will have to show hard results from this positioning adjustment. The Federal Reserve was allowed to be backward for a long time, and sometimes you cannot teach an old dog new tricks.


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 July 27, 2019, is below.

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

Category Action Taken
Forms Forms — (1) initial Board review of two separate proposals to extend with revision the Capital Assessments and Stress Testing Reports (FR Y-14/A/Q/M), and (2) incorporation, in the FR Y-14 reports, of changes to address the revised accounting standards for the adoption of the current expected credit loss (CECL) methodology.

-Proposed, July 25, 2019

Personnel Division of Research and Statistics — appointment of Burcu Duygan-Bump, Andrew Figura, Glenn Follette, Erik Heitfield, Patrick McCabe, Norman Morin, Karen Pence, John Roberts, Shane Sherlund, Lil Shewmaker, and Paul Smith as deputy associate directors; and Eric Engstrom as senior adviser while remaining a deputy associate director in the Division of Monetary Affairs.

-Announced, July 23, 2019

Regulations and Policies Credit Card Plans — annual report to Congress on the profitability of credit card operations of depository institutions.

-Approved, July 18, 2019

(A/C)

 

Supervision and Regulation Bank Secrecy Act/Anti-Money-Laundering (BSA/AML) — issuance of interagency statement to improve transparency in the agencies’ risk-focused approach to BSA/AML supervision.

-Announced, July 22, 2019

 

Resolution Plans — joint feedback with the Federal Deposit Insurance Corporation to 82 foreign banking organizations on their December 2018 resolution plans.

-Approved, July 22, 2019

 

Resolution Plans — (1) joint extensions with the Federal Deposit Insurance Corporation (FDIC) for 82 foreign banking organizations (FBOs) and 15 domestic large banking organizations to move their next resolution-plan filing date to July 1, 2021, and (2) joint exemptions with the FDIC for Barclays PLC, Credit Suisse, Deutsche Bank AG, and UBS AG from certain informational requirements for their July 1, 2020 resolution plans.

-Approved, July 24, 2019

Enforcement First National Financial Services, Inc., Elk River, Minnesota — written agreement dated April 12, 2010, terminated July 19, 2019.

-Announced, July 25, 2019

 

Mesaba Bancshares, Inc., Grands Rapids, Minnesota — written agreement dated August 3, 2011, terminated July 19, 2019.

-Announced, July 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 August 1, 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 July 31, 2019):  $3,826,557 (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 July 20, 2019; H.4.1 Release (Balance Sheet) for Week Ending July 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 July 20, 2019, is below.

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

Category Action Taken
Bank Holding Companies Chemical Financial Corporation, Detroit, Michigan — to acquire TCF Financial Corporation, Wayzata, Minnesota, and thereby indirectly acquire TCF National Bank, Sioux Falls, South Dakota.

-Approved, July 15, 2019

 

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

-Approved, July 15, 2019

 

Forms — initial Board review to extend with revision the Report of Selected Balance Sheet Items for Discount Window Borrowers (FR 2046).

-Proposed, July 15, 2019

Personnel Division of Consumer and Community Affairs — appointment of Marisa Reid as associate director.

-Announced, July 11, 2019

Regulations and Policies Volcker Rule — interagency coordination of reviews of the treatment of certain foreign funds under the Volcker Rule.

-Announced, July 17, 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 July 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 July 24, 2019):  $3,851,157 (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 July 13, 2019; H.4.1 Release (Balance Sheet) for Week Ending July 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 July 13, 2019, is below.

H.2 Release–Action 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 Powell before the House Committee on Financial Services on July 10 and the Senate Committee on Banking, Housing, and Urban Affairs on July 11, 2019.

-Published, July 10, 2019

Forms Forms — final Board review to extend with revision the Federal Reserve Payments Study (FR 3066a and 3066b) and to discontinue FR 3066c and 3066d.

-Approved, July 8, 2019

 

Forms — final Board review to extend without revision the Semiannual Report of Derivatives Activity (FR 2436).

-Approved, July 12, 2019

 

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

-Approved, July 12, 2019

 

 

Personnel Division of Consumer and Community Affairs — appointment of Marisa Reid as associate director.

-Announced, July 11, 2019

Regulations and Policies Regulatory Capital Rules — (1) interagency final rule to simplify certain aspects of the Board’s capital rule to reduce regulatory burden, especially for banking organizations not subject to the advanced approaches capital rule; and (2) publication for comment of an interagency notice of proposed rulemaking to clarify the regulatory capital treatment of land development loans.

-Approved, July 8, 2019

 

Volcker Rule Regulations — interagency final rule to exclude certain institutions (generally, those with total consolidated assets of $10 billion or less and total trading assets and liabilities of 5 percent or less of total consolidated assets) from the agencies’ respective regulations implementing the Volcker rule, consistent with the Economic Growth, Regulatory Relief, and Consumer Protection Act.

-Approved, July 8, 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 July 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 July 17, 2019):  $3,856,198 (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 July 6, 2019; H.4.1 Release (Balance Sheet) for Week Ending July 11, 2019

Of Note–

Monetary Policy Report, July 2019

The Monetary Policy Report hearings were held on July 10 and 11, 2019.

U.S. House of Representatives U.S. Senate
Wednesday, July 10, 2019, 10:00 a.m., House Financial Services Committee Thursday, July 11, 2019, 10:00 a.m., Senate Banking Committee
Press release: https://financialservices.house.gov/calendar/eventsingle.aspx?EventID=403999 Press release: https://www.banking.senate.gov/hearings/07/08/2019/the-semiannual-monetary-policy-report-to-the-congress
Monetary Policy Report, issued July 5, 2019, https://www.federalreserve.gov/publications/files/20190705_mprfullreport.pdf  

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 June 29, 2019, is below.

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

Category Action Taken
Advisory Councils Insurance Policy Advisory Committee on International Capital Standards and Other Insurance Issues (IPAC) — (1) the charter for IPAC; and (2) publication of a notice that the Board is accepting applications from individuals who wish to be considered for IPAC membership.

-Approved, July 2, 2019

Forms Forms — initial Board review to extend without revision the Disclosure and Reporting Requirements of the Community Reinvestment Act (CRA)-Related Agreements (Regulation G) (FR G).

-Proposed, July 2, 2019

 

Monetary and Financial Policy Monetary Policy Report — semiannual report to the Congress.

-Published, July 5, 2019

 

Regulation and Policies Rules Regarding Delegation of Authority — final rule to (1) delegate to the Reserve Banks authority to approve certain types of applications, notices, and requests; and (2) revise or rescind certain existing delegations of authority to the Reserve Banks, the Secretary of the Board, and the director of the Division of Supervision and Regulation.

-Approved, June 24, 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 July 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 July 10, 2019):  $3,863,140 (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 June 29, 2019; H.4.1 Release (Balance Sheet) for Week Ending July 5, 2019; 3 Of Note Items

Of Note–

(1) Monetary Policy Report, July 2019

The Monetary Policy Report hearings will be held on July 10 and 11, 2019. (updated 7-9-19)

U.S. House of Representatives U.S. Senate
Wednesday, July 10, 2019, 10:00 a.m., House Financial Services Committee Thursday, July 11, 2019, 10:00 a.m., Senate Banking Committee
Press release: https://financialservices.house.gov/calendar/eventsingle.aspx?EventID=403999 Press release: https://www.banking.senate.gov/hearings/07/08/2019/the-semiannual-monetary-policy-report-to-the-congress
Monetary Policy Report, issued July 5, 2019, https://www.federalreserve.gov/publications/files/20190705_mprfullreport.pdf

(2) Monetary policy only for the rich. The fruits of the so-called recovery did not reach many people, leaving grave doubt about the effectiveness of monetary policy. Via Washington Post

Comment: Some comments on the article attempt to blame the suffering for their malady, as if buying a $3 cup of coffee is the only thing keeping people from buying homes. [Assuming a cup of coffee 5 days a week for a year-(3*5)*52 =$780. A house in DC could cost at least $200,000]

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(3) The perils of stock buybacks. Via Naked Capitalism

 


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 June 29, 2019, is below.

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

Category Action Taken
Bank Holding Companies Banco Santander, S.A., Madrid, Spain — to indirectly acquire additional shares of Santander Consumer USA Holdings Inc., Dallas, Texas.

-Approved, June 26, 2019

 

Texas Independent Bancshares, Inc., Texas City, Texas — to acquire Preferred Bancshares, Inc., Houston, and thereby indirectly acquire Preferred Bank; and for Texas First Bank, Texas City, to merge with Preferred Bank and establish branches.

-Approved, June 26, 2019

 

Forms Forms — initial Board review to extend without revision the Recordkeeping Provisions Associated with Guidance on Leveraged Lending (FR 4203).

-Proposed, June 24, 2019

 

 

Personnel Division of Supervision and Regulation — appointment of James F. Price, Jr., as deputy director.

-Approved, June 20, 2019

(A/C)

 

Supervision and Regulation Stress tests and capital plan reviews — 2019 results.

-Approved, June 20, 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 July 5, 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 July 3, 2019):  $3,860,965 (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 June 22, 2019; H.4.1 Release (Balance Sheet) for Week Ending June 27, 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 June 22, 2019, is below.

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

Category Action Taken
Bank Branches, Domestic Frost Bank, San Antonio, Texas — to establish ten branches in Texas.

-Approved, June 19, 2019

 

Forms Frost Bank, San Antonio, Texas — to establish ten branches in Texas.

-Approved, June 19, 2019

 

Regulations and Policies Regulation CC — interagency final rule (1) to implement a method to adjust the dollar amounts in the Expedited Funds Availability Act (EFA Act) for inflation, as required by the Dodd-Frank Act; and (2) to expand the geographic application of the EFA Act to certain Pacific islands, as required by the Economic Growth, Regulatory Relief, and Consumer Protection Act.

-Approved, June 20, 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 June 27, 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 June 19, 2019):  $3,874,807 (in millions of dollars). (On September 26, 2007, this amount was $900,473 (in millions of dollars)).

(See the release for further information.)