Federal Reserve Board: H.2 Release for Week Ending December 1, 2018; H.4.1 Release (Balance Sheet) for Week Ending November 29, 2018; Three Of Note Items

Of Note–

(1) The Palestinian experience is being unjustly silenced. CNN, a cable network, terminated its contract with Dr. Marc Lamont Hill, a tenured professor at Temple University, because of statements he made at a United Nations’ meeting for the International Day of Solidarity with the Palestinian People on November 29, 2018.

 

Comment: See, for more discussion, an op-ed by Noura Erakat at Black Agenda Report, “Marc Lamont Hill and the Legacy of Punishing Black Internationalists”.

(2) “Meritocracy” requires wealth for one to be successful. If not wealthy, one will fail and be blamed for the planned result. Such an idea is at the root of so-called rank and yank (forced distribution) policy, which, as discussed extensively at this blog, is patently unfair and inequitable.

For further discussion, see “Meritocracy: the Great Delusion that Ingrains Inequality,” by Jo Littler.

 

 

 

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(3) Do medical doctors look down on cancer patients who are single? Maybe, according to an article in the Washington Post, by Joan DelFattore. Why is marital status even considered in treatment?


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 December 1, 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 — initial Board review to extend without revision the Recordkeeping Provisions Associated with the Guidance on Sound Incentive Compensation Policies (FR 4027).

-Proposed, November 26, 2018

 

Forms — initial Board review to extend without revision the Domestic Branch Application (FR 4001).

-Proposed, November 26, 2018

 

Forms — initial 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 10e).

-Proposed, November 26, 2018

 

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

-Published, November 28, 2018

 

Regulations and Policies Appraisal Requirements — publication for comment of a proposed interagency rule to increase the dollar threshold at or below which appraisals are not required for residential real estate transactions.

-Approved, November 30, 2018

 

Rules Regarding Equal Opportunity — publication for comment of proposed amendments to adopt changes recently made by the Equal Employment Opportunity Commission to its parallel regulation and to make other clarifying changes.

-Approved, October 29, 2018

(A/C)

 

Enforcement MyBank, Belen, New Mexico — issuance of a consent order of assessment of a civil money penalty.

-Announced, November 28, 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 December 6, 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 December 5, 2018):  $4,133,678 (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 ReserveBoard: H.2 Release for Week Ending November 17, 2018; H.4.1 Release (Balance Sheet) for Week Ending November 22, 2018

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 November 17, 2018, 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 Supervision and Regulation — semiannual statement by Vice Chairman for Supervision Quarles before the House Committee on Financial Services on November 14 and the Senate Committee on Banking, Housing, and Urban Affairs on November 15, 2018, on the Federal Reserve’s regulation and supervision of financial institutions.

-Published, November 14, 2018

Forms Forms — final Board review to extend with revision the Reporting, Recordkeeping, and Disclosure Requirements Associated with the Home Mortgage Disclosure Act (HMDA) and Loan/Application Register (LAR) required by Regulation C (FR HMDA LAR).

-Approved, November 14, 2018

 

Forms — final Board review to revise without extension the capital assessments and stress testing information collection (FR Y-14A/Q/M).

-Approved, November 14, 2018

Regulations and Policies Regulation CC (Availability of Funds and Collection of Checks) — publication of an interagency proposed rule to (1) request comment on a calculation methodology for indexing the dollar amounts in the Expedited Funds Availability Act (EFA Act), (2) reopen the comment period on amendments to subpart B of Regulation CC proposed by the Board in 2011, and (3) implement coverage and other technical amendments under the Economic Growth, Regulatory Relief, and Consumer Protection Act to the EFA Act.

-Approved, November 14, 2018

 

Regulation J (Collection of Checks and Other Items by Federal Reserve Banks and Fund Transfers Through Fedwire) — publication of a final rule to simplify certain provisions, remove obsolete provisions, and make conforming amendments to align the regulation with the Board’s 2017 amendments to Regulation CC.

-Approved, November 14, 2018

Reserve Bank Services Federal Reserve Priced Services — 2019 private sector adjustment factor and fee schedules for priced services and electronic access.

-Approved, November 14, 2018

Supervision and Regulation Disaster-Related Supervisory Practices — interagency statement on supervisory practices regarding financial institutions and their customers affected by the California wildfires.

-Announced, November 15, 2018

Enforcement Société Générale S.A., Paris, France — issuance of a consent cease-and-desist order and an order of assessment of a civil money penalty for unsafe and unsound practices resulting in the violation of U.S. economic sanctions.

-Approved, October 19, 2018

(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 November 22, 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 November 21, 2018):  $4,154,119 (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 November 10, 2018; H.4.1 Release (Balance Sheet) for Week Ending November 15, 2018

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 November 10, 2018, is below.

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

CategoryAction Taken
Bank Branches, DomesticComerica Bank, Dallas, Texas — to establish branches at 2 Riverway Drive, Houston; and 6829 Hillcrest Avenue, Dallas.   -Approved, November 5, 2018
Monetary and Financial PolicyFinancial Stability Report — plan to begin publishing a semiannual report presenting the Board’s view of the outlook for U.S. financial stability.   -Announced, November 9, 2018
Supervision and RegulationSupervision and Regulation Report — publication of the inaugural Supervision and Regulation report, which summarizes banking system conditions and the Federal Reserve’s recent supervisory and regulatory actions.   -Announced, November 9, 2018  
EnforcementMcHenry Bancorp, Inc., McHenry, Illinois — cease-and-desist order issued by the Office of Thrift Supervision dated March 26, 2010, terminated November 1, 2018.   -Announced, November 6, 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 November 15, 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 November 14, 2018):  $4,193,628 (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 November 3, 2018; H.4.1 Release (Balance Sheet) for Week Ending November 8, 2018

Of Note

(1) The So-Called Great Times: Many Millennial Men Unemployed. Jeanna Smialek writes an article for Bloomberg to examine why 500,000 millennial men are missing from the workforce. Perhaps they want to avoid the reduced pay with increasing (and undercompensated) demands.

The excuses that the economists offer in the article border on the nonsensical. Someone is going to incur debts to play video games? People have to live with their parents because the wages paid for work is insufficient to pay for first and last month rent and a security deposit for an apartment.

Other social changes could be exacerbating the trend. Better video games might make leisure time more attractive, some economists hypothesize, and opioid use might make many less employable. Young adults increasingly live with their parents, and cohabitation might be providing a “different form of insurance,” said Erik Hurst, an economist at the University of Chicago.

 

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(2) Globalization and the U.S. Worker. (Note: This item is from a previous post. Still it is relevant here.) An investment professional wrote a book on the glut of labor that globalization caused. The United States did not prepare any programs to compensate for the job losses and decreases in income.

Daniel Alpert, “The Age of Oversupply.”


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 November 3, 2018, is below.

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

Category Action Taken
Change in Bank Control CapStar Financial Holdings, Inc., Nashville, Tennessee — change in bank control of CapStar Financial Holdings, Inc., and its subsidiary, CapStar Bank, Nashville.

-Permitted, November 2, 2018

Forms Forms — initial Board review to extend with revision the Consolidated Holding Company Report of Equity Investments in Nonfinancial Companies (FR Y-12) and Annual Report of Merchant Banking Investments Held for an Extended Period (FR Y-12A).

-Proposed, October 29, 2018

 

Forms — initial Board review to extend without revision the Notice Requirements Associated with Regulation W (FR W).

-Proposed, November 1, 2018

Personnel Division of Financial Management — appointment of Karen Vassallo as associate director.

-Announced, November 2, 2018

Regulations and Policies Derivatives Contracts — publication for comment of an interagency proposal that would implement a new method for calculating the exposure amount of derivative contracts under the agencies’ regulatory capital rules.

-Approved, October 30, 2018

 

Reduced Reporting for Depository Institutions — publication for comment of an interagency proposal to streamline regulatory reporting for qualifying small institutions, in accordance with the Economic Growth, Regulatory Relief, and Consumer Protection Act.

-Approved, October 29, 2018

 

Regulations and Policies — (1) two proposed rules to establish a revised framework for tailoring prudential standards to the risk profiles of large U.S. banking organizations; and (2) initial Board review to amend the Consolidated Financial Statements for Holding Companies (FR Y-9C), Parent Company Only Financial Statements for Large Holding Companies (FR Y-9LP), Capital Assessments and Stress Testing (FR Y-14), Complex Institution Liquidity Monitoring Report (FR 2052a), and Banking Organization Systemic Risk Report (FR Y-15) information collections.

-Approved, October 31, 2018

 

Supervisory Rating Systems — (1) final rule adopting a new rating system for large financial institutions and (2) notice to apply the Board’s existing supervisory rating system to certain savings and loan holding companies.

-Approved, November 1, 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 November 8, 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 November 7, 2018):  $4,189,782 (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 October 27, 2018; H.4.1 Release (Balance Sheet) for Week Ending November 1, 2018

Of Note

(1) The “American Dream” is dead (except for the rich). Joseph Stiglitz wrote an article for the Scientific American, “The American Economy is Rigged.” (November 2018)

Key Quote:

An alternative theory is far more consonant with the facts. Since the mid-1970s the rules of the economic game have been rewritten, both globally and nationally, in ways that advantage the rich and disadvantage the rest. And they have been rewritten further in this perverse direction in the U.S. than in other developed countries—even though the rules in the U.S. were already less favorable to workers.


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 October 27, 2018, is below.

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

Category Action Taken
Advisory Councils Community Advisory Council — announcement of six new members of the council.

-Announced, October 25, 2018

Enforcement AllNations Bank, Calumet, Oklahoma — written agreement with the Federal Reserve Bank of Kansas City and the Oklahoma State Banking Department.

-Announced, October 25, 2018

 

First Iowa State Bank, Keosauqua, Iowa — issuance of consent order of prohibition against Joel Shumate, a former institution-affiliated party.

-Announced, October 23, 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 November 1, 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 October 31, 2018):  $4,186,805 (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 October 20, 2018; H.4.1 Release (Balance Sheet) for Week Ending October 25, 2018

Of Note

(1) Management surveillance aggression.

How Employers Track Their Employers | The Atlantic | Ellen Ruppel Shell

Comment: As the software for surveillance become more powerful and cheaper to implement, the watched reacts to avoid the constant tracking. This then leads to management doubling down on surveillance tactics, as the money spent does not find any wrongdoing.

With management seeking further surveillance, there are a few topics that are unmentioned: the effect and the opinion of labor on the topic and the lack of pay increases despite demands for more work.


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 October 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
Bank Holding Companies Old National Bancorp, Evansville, Indiana — to acquire and merge with Klein Financial, Inc., Chaska, Minnesota, and thereby indirectly acquire KleinBank.

-Approved, October 15, 2018

Forms Forms — initial Board review to extend without revision the Basel II Interagency Pillar 2 Supervisory Guidance (FR 4199).

-Proposed, October 15, 2018

Forms — to discontinue the Monthly Report of Traveler’s Checks Outstanding (FR 2054).

-Approved, October 15, 2018

Regulations and Policies Changes in U.S. Payments Fraud — report on changes in U.S. noncash payments fraud from 2012 to 2016, as tracked in the Federal Reserve Payments Study.

-Published, October 16, 2018

Enforcement The Royal Bank of Scotland Group, PLC, Edinburgh, Scotland; and The Royal Bank of Scotland PLC — cease-and-desist order dated December 11, 2013, terminated October 10, 2018.

-Announced, October 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 October 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 October 24, 2018):  $4,220,813 (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 October 13, 2018; H.4.1 Release (Balance Sheet) for Week Ending October 18, 2018


Of Note

(1) Affording Economic Justice in the United States.

“Can We Afford Economic Justice in the United States” by Daniel Jose Camacho in Sojourners Magazine

Daniel Camacho wrote an article for Sojourners Magazine, which described his attendance at a conference of Modern Monetary Theory in September 2018 in New York. Camacho provided a brief description of MMT.

Camacho then explored several issues that MMT could support:

  • Federal job guarantee, an idea of Coretta Scott King
  • Religion and money, in which religious leaders become interested in learning about the monetary system and its relationship to societal issues and where people become interested in religion and Theology because of MMT (Nathan Tankus, inspired by the book Debt: The First 5,000 Years by David Graeber).

(2) The inhuman abasement of the vulnerable. Meanwhile, rich people who lavish in doing nothing receive shrugs.

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The Bad Behavior of the Richest: What I Learned from Wealth Managers” by Brooke Harrington in the Guardian.

Key quote–

These disparate perceptions aren’t just evidence of hypocrisy; they are literally a matter of life and death. In the US, the widespread belief that the poor are simply lazy has led many states to impose work requirements on aid recipients –even those who have been medically classified as disabled. Limiting aid programs in this way has been shown to shorten recipients’ lives: rather than the intended consequence of pushing recipients into paid employment, the restrictions have simply left them without access to medical care or a sufficient food supply. Thus, in one of the richest counties in America, a boy living in poverty died of a toothache; there were no protests, and nothing changed.


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 October 13, 2018, is below.

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

Category Action Taken
Bank Mergers Security Trust & Savings Bank, Storm Lake, Iowa — to purchase the assets and assume the liabilities of First National Bank of Rembrandt (FNB Bank), Rembrandt, and to establish a branch at the location of FNB Bank’s main office.

-Approved, October 10, 2018

Forms Forms — initial Board review to extend without revision the Disclosure Requirements of Subpart H of Regulation H (Consumer Protections in Sales of Insurance) (Reg H-7).

-Proposed, October 10, 2018

Regulations and Policies Supervisory Practices — interagency statement on supervisory practices for financial institutions affected by Hurricane Michael.

-Announced, October 10, 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 October 18, 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 October 17, 2018):  $4,223,185 (in millions of dollars). (On September 26, 2007, this amount was $900,473 (in millions of dollars)).

(See the release for further information.)