Federal Reserve Board: H.2 Release for Week Ending February 15 and 22, 2020; H.4.1 Release (Balance Sheet) for February 20 and 26, 2020

Monetary Policy Report, February 2020

The Monetary Policy Report hearings were held on February 11 and 12, 2020.

U.S. House of RepresentativesU.S. Senate
Tuesday, February 10, 2020, 10:00 a.m., House Financial Services CommitteeWednesday, February 12, 2020
Press release: https://financialservices.house.gov/calendar/eventsingle.aspx?EventID=406118https://www.banking.senate.gov/hearings/02/03/2020/the-semiannual-monetary-policy-report-to-the-congress
Monetary Policy Report, issued February 7, 2019 
Fed Chairman Jerome Powell’s testimony 

See a blog post on an overall comment on Board monetary policy.

Federal Reserve Board: H.2 Release for Week Ending February 15 and 22, 2020; H.4.1 Release (Balance Sheet) for February 20 and 27, 2020

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 8, 2020, is below.

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

February 15, 2020

CategoryAction Taken
Testimony and StatementsMonetary Policy — statement by Chair Powell before the House Committee on Financial Services on February 11 and the Senate Committee on Banking, Housing, and Urban Affairs on February 12. -Published, February 11, 2020  
EnforcementDeutsche Bank AG, Frankfurt am Main, Germany — cease-and-desist order dated April 20, 2017, terminated February 11, 2020. -Announced, February 13, 2020   Discover Financial Services, Riverwoods, Illinois — written agreement dated May 26, 2015, terminated February 5, 2020. -Announced, February 13, 2020   JPMorgan Chase & Co., New York, New York — cease-and-desist order dated November 17, 2016, terminated February 11, 2020. -Announced, February 13, 2020   The Royal Bank of Scotland PLC, Edinburgh, Scotland, and RBS Securities Inc. (n.k.a NatWest Markets Securities Inc.), Stamford, Connecticut — cease-and-desist order dated May 20, 2015, terminated February 12, 2020. -Announced, February 13, 2020  

February 22, 2020

CategoryAction Taken
Bank Branches, DomesticFrost Bank, San Antonio, Texas — commenter’s request for review of the delegated approval of the application by Frost Bank to establish a branch at 4321 West Sam Houston Parkway North, Houston. -Denied, February 18, 2020  
FormsForms — initial Board review (1) to extend with revision the Survey of Small Business and Farm Lending (FR 2028) and Joint Standards for Assessing the Diversity Policies and Practices of Entities Regulated by the Agencies (FR 2100); and (2) to extend without revision the Reporting Requirements Associated with Regulation A (FR A). -Approved, February 21, 2020

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 releases for February 20 and 27, 2020, 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 February 19, 2019):  $4,219,781 (in millions of dollars) and (as of February 26, 2019):  $4,206,417 (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 February 8, 2020; H.4.1 Release (Balance Sheet) for February 13, 2020

Monetary Policy Report, February 2020

The Monetary Policy Report hearings were held on February 11 and 12, 2020.

U.S. House of RepresentativesU.S. Senate
Tuesday, February 10, 2020, 10:00 a.m., House Financial Services CommitteeWednesday, February 12, 2020
Press release: https://financialservices.house.gov/calendar/eventsingle.aspx?EventID=406118https://www.banking.senate.gov/hearings/02/03/2020/the-semiannual-monetary-policy-report-to-the-congress
Monetary Policy Report, issued February 7, 2019 
Fed Chairman Jerome Powell’s testimony 

Federal Reserve Board: H.2 Release for Week Ending February 8, 2020; H.4.1 Release (Balance Sheet) for February 13, 2020

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 8, 2020, is below.

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

CategoryAction Taken
Monetary and Financial PolicyMonetary Policy Report — semiannual report to the Congress. -Published, February 7, 2020  
PersonnelDivision of International Finance — appointment of Robert J. Vigfusson as assistant director. -Announced, February 7, 2020   Division of Research and Statistics — appointment of Glenn Follette as associate director; Eric Engstrom as deputy associate director; Paul Lengermann, Byron Lutz, Raven Molloy, Gustavo Suarez, and Clara Vega as assistant directors; Steve Sharpe as senior adviser; and Charles Fleischman as adviser. -Announced, February 7, 2020
EnforcementFarmers and Merchants Bank of Craig County, New Castle, Virginia — consent order of assessment of a civil money penalty pursuant to the National Flood Insurance Act. -Announced, February 6, 2020

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 February 13, 2020, is below. 13

[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 February 12, 2019):  $4,230,943 (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 February 1, 2020; H.4.1 Release (Balance Sheet) for February 6, 2020

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 1, 2020, is below.

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

CategoryAction Taken
FormsForms — initial board review to extend without revision the Notification of Nonfinancial Data Processing Activities (FR 4021); final Board review to extend with revision the Intermittent Survey of Businesses (FR 1374); and final Board review to extend without revision the Filings Related to the Gramm-Leach-Bliley Act (FR 4010, FR 4011, FR 4012, FR 4017, FR 4019, and FR 4023). -Approved, January 29, 2020  
PersonnelDivision of Financial Management — appointment of Thomas Murphy as deputy associate director. -Approved, January 17, 2020 (A/C)
Regulations and PoliciesVolcker Rule, and Determination of Control Over Banking Organizations — (1) publication for comment of a notice of proposed rulemaking to clarify and streamline the Volcker Rule’s “covered funds” restrictions, and (2) final rule to simplify and increase the transparency of rules for determining control of a banking organization. -Approved, January 30, 2020
EnforcementAlden State Bank, Alden, New York — consent order of assessment of a civil money penalty pursuant to the National Flood Insurance Act. -Announced, January 30, 2020   Farmers & Merchants Bank, Baldwyn, Mississippi — issuance of a final decision and an order of prohibition requiring restitution, and assessment of a civil money penalty against Carol Allen, a former institution-affiliated party. -Approved, January 29, 2020   The Goldman Sachs Group, Inc., New York, New York — issuance of a consent order of prohibition against Andrea Vella, an institution-affiliated party of certain nonbank subsidiaries of The Goldman Sachs Group, Inc. -Approved, January 31, 2020  

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 February 6, 2020, 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 February 6, 2019):  $4,214,936 (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 January 25, 2020; H.4.1 Release (Balance Sheet) for January 30, 2020

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 25, 2020, is below.

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

Category Action Taken
Personnel Division of Management — appointment of Donna Butler as deputy associate director.

-Announced, January 23, 2020

 

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 30, 2020, 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 29, 2019):  $4,199,300 (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 January 18, 2020; H.4.1 Release (Balance Sheet) for January 23, 2020

Of Note

The hidden homeless and financial precarity. The Federal Reserve’s pronouncements are so high level that it is not certain whether any of the much-watched events there have any real effect. Much humility is needed at 20th Street and Constitution Avenue, NW.

Federal Reserve policy affects human lives not just financial currency; the so-called policymakers need to keep this in mind at all times. A column about the hidden homeless–children--by Washington Post columnist Petula Dvorak demonstrates the point.

“But there is also an elusive, vulnerable population in the homeless community that wasn’t counted in the nationwide January survey. They hide, they fudge the truth, they get off the bus at random stops, walk two extra blocks and never hang out with their better-off friends after school. They’re homeless kids.”

One needs $143,000 to live comfortably in the Washington, D.C., metropolitan area. The largest employer, the federal government, pays aGS-9, step 1 level employee $59,534 (a shortage of $83,466). This suggests a great level of people living a precarious life financially. One bit of bad news will cause a crisis–cancer diagnosis, expensive car repair, and so on.


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 18, 2020, is below.

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

Category Action Taken
Advisory Council Community Depository Institutions Advisory Council — announcement of members and designation of Dorothy A. Savarese as president for 2020.

-Announced, January 14, 2020

 

 

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 23, 2020, 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 22, 2019):  $4,194,078 (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 January 11, 2020; H.4.1 Release (Balance Sheet) for January 16, 2020

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 11, 2020, 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 implement the Pre-Hire Conflict of Interest Screening Form (FR-28c); initial Board review to extend with revision the Census of Finance Companies (FR 3033p), Survey of Finance Companies (FR 3033s), and Market Risk Capital Rule (FR 4201); initial Board review to extend without revision the Registration of Mortgage Loan Originators (CFPB G); and final Board review to extend without revision the Recordkeeping and Disclosure Requirements Associated with Regulation RR (FR RR).

-Approved, January 10, 2020

 

 

Regulations and Policies Presidential Coins — annual report to Congress on the Presidential $1 Coin Program.

-Approved, December 9, 2019

(A/C)

 

 

Reserve Bank Operations Reserve Bank Directors— designation of chairs and deputy chairs of the Federal Reserve Banks for 2020.

-Announced, January 10, 2020

 

Enforcement Administrative Law Judge — orders reassigning three enforcement cases to Administrative Law Judge Jennifer Whang and lifting a stay of proceedings.

-Approved, January 9, 2020

 

United Bank of El Paso del Norte, El Paso, Texas — issuance of a consent cease-and-desist order.

-Announced, January 9, 2020

 

 

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 16, 2020, 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 15, 2019):  $4,224,124 (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 January 4, 2020; H.4.1 Release (Balance Sheet) for January 9, 2020

Of Note

Federal Reserve Strategic Plans

The Federal Reserve published its strategic plan for 2020-2023. Will the Fed’s Diversity and Inclusion Strategic Plan be revised for 2020-2023? The first and so far only D&I strategic plan was for 2016-2019.

Chairs and Deputy Chairs of the Federal Reserve Banks

The Fed named the chairs and deputy chairs of the Federal Reserve Banks. Quite a number are current or retired corporate executives.

Comment: No wonder very few “anecdotes” come from labor-affiliated sources and why Fed policy is so skewed to corporations. The corporations that only care about so-called “shareholder value”, often without concern about the harm to society.

What good is “profit” if the society has collapsed?


 

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 4, 2020, is below.

 

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

 

Category Action Taken
None None

 

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 9, 2020, 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 8, 2019):  $4,197,813 (in millions of dollars). (On September 26, 2007, this amount was $900,473 (in millions of dollars)).

 

(See the release for further information.)