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First bank to close this year - January 17, 2025 - Pulaski Savings Bank of Chicago, Ill. was closed today by the Illinois Department of Financial and Professional Regulation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect depositors, the FDIC entered into a purchase and assumption agreement with Millennium Bank of Des Plaines, Ill., to assume all deposits of Pulaski Savings Bank. https://www.fdic.gov/news/press-releases/2025/millennium-bank-des-plaines-ill-assumes-all-deposits-pulaski-savings-bank January 16, 2025 - OCC Announces Enforcement Actions for January 2025 and Updates to Enforcement Action Search Tool - The Office of the Comptroller of the Currency today released enforcement actions taken against national banks and federal savings associations, and individuals currently and formerly affiliated with banks the OCC supervises. https://occ.gov/news-issuances/news-releases/2025/nr-occ-2025-5.html   January 15, 2025 - Beige Book - Informal review by the Federal Reserve Banks of current economic conditions in their Districts.  www.federalreserve.gov/monetarypolicy/publications/beige-book-default.htm January 15, 2025 - St. Louis Fed Releases Beige Book - The local report summarizes economic conditions for the Eighth District, which is based in St. Louis and covers all of Arkansas and parts of Illinois, Indiana, Kentucky, Mississippi, Missouri and Tennessee. www.stlouisfed.org/news-releases/2025/01/st-louis-fed-releases-beige-book January 15, 2025 - Twelfth District Beige Book: January 2025 - Economic activity in the Twelfth District expanded slightly during the mid-November through December reporting period. www.frbsf.org/research-and-insights/publications/san-francisco-fed-twelfth-district-beige-book/2025/01/beige-book-january-2025/?utm_source=frbsf-web_medium=homepage_campaign=latest January 15, 2025 - irst-Time Homeownership Became Less Affordable Across Most of the United States in Recent Years - New homeownership became less affordable across much of the United States over the last five years. Swiftly rising house prices and higher borrowing costs have not been fully offset by wage gains, making homeownership less affordable in both metropolitan and rural areas. www.kansascityfed.org/research/economic-bulletin/first-time-homeownership-became-less-affordable-across-most-of-the-united-states-in-recent-years/ January 14, 2025 - Federal and State Financial Regulatory Agencies Issue Interagency Statement on Supervisory Practices Regarding Financial Institutions Affected by the California Wildfires and Straight-line Winds www.ncua.gov/newsroom/press-release/2025/federal-and-state-financial-regulatory-agencies-issue-interagency-statement-supervisory-practices  January 14, 2025 - OCC Imposes Civil Money Penalties Against Three Former Executives of Wells Fargo - The enforcement actions are described in two written decisions issued by Acting Comptroller of the Currency Michael J. Hsu, covering Claudia Russ Anderson and jointly covering David Julian and Paul McLinko. www.occ.gov/news-issuances/news-releases/2025/nr-occ-2025-3.html January 14, 2025 - Federal and State Financial Regulatory Agencies Issue Interagency Statement on Supervisory Practices Regarding Financial Institutions Affected by the California Wildfires and Straight-line Winds.  www.occ.gov/news-issuances/news-releases/2025/nr-ia-2025-4.html www.fdic.gov/news/press-releases/2025/federal-and-state-financial-regulatory-agencies-issue-interagency www.federalreserve.gov/newsevents/pressreleases/other20250114a.htm  January 14, 2025 - From Plans to Starts: Examining Recent Trends in Manufacturing Plant Construction - Manufacturing structures investment is the largest component by value of U.S. nonresidential structure investment and has been growing quickly in the post-pandemic period. www.federalreserve.gov/econres/notes/feds-notes/from-plans-to-starts-examining-recent-trends-in-manufacturing-plant-construction-20250114.html January 14, 2025 - Minutes of the Board's discount rate meetings on November 18, December 9, and December 18, 2024 - Today's minutes cover the Board meetings that occurred on November 18, December 9, and December 18, 2024. www.federalreserve.gov/newsevents/pressreleases/monetary20250114a.htm January 13, 2025 - 31ST ANNUAL AUTOMOTIVE INSIGHTS SYMPOSIUM - In 2024, auto industry sales and production were somewhat normal and electrified vehicle (EV) sales hit record high levels in the United States. So, we look forward to 2025 with cautious optimism. https://www.chicagofed.org/events/2025/ais January 13, 2025 - NCUA - Julie Cayse Named Western Region Director - In her new role, Ms. Cayse will oversee the examination and supervision of all federally insured credit unions in Alaska, Arizona, California, Colorado, Guam, Hawaii, Idaho, Illinois, Iowa, Kansas, Minnesota, Missouri, Montana, Nebraska, Nevada, New Mexico, North Dakota, Oregon, South Dakota, Utah, Washington, Wisconsin, and Wyoming. www.ncua.gov/newsroom/press-release/2025/julie-cayse-named-western-region-director  January 13, 2025 - Kansas City Fed announces director election results and appointments - The Federal Reserve Bank of Kansas City announces the following director election. www.kansascityfed.org/newsroom/2025-news-releases/kansas-city-fed-announces-director-election-results-and-appointments-2025/ January 13, 2025 - Guidance to Help Financial Institutions and Facilitate Recovery in Areas of California Affected by Wildfires and Straight-line Winds Disaster Relief - The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of California affected by wildfires and straight-line winds. www.fdic.gov/news/financial-institution-letters/2025/guidance-help-financial-institutions-and-facilitate January 13, 2025 - Spatially Mapping Banks' Commercial & Industrial Loan Exposures: Including an Application to Climate-Related Risks - The correlation of the spatial distribution of banking exposures with changes in spatial patterns of economic activity (e.g., internal migration, changes in agglomeration patterns, climate change, etc.) may have financial stability implications. www.federalreserve.gov/econres/feds/spatially-mapping-banks-commercial-industrial-loan-exposures.htm January 13, 2025 - Impact of the Volcker Rule on the Trading Revenue of Largest U.S. Trading Firms During the COVID-19 Crisis Period - Using a novel data collection, we examine the impact of the Volcker Rule on trading revenue of the 21 largest U.S. trading firms during the 100 day stress period centered on the COVID-19 financial crisis. www.federalreserve.gov/econres/feds/impact-of-the-volcker-rule-on-the-trading-revenue-of-largest-us-trading-firms-during-the-covid-19-crisis-period.htm January 13, 2025 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm January 13, 2025 - Reports to Congress Pursuant to Section 13(3) of the Federal Reserve Act in response to COVID-19. www.federalreserve.gov/publications/reports-to-congress-in-response-to-covid-19.htm January 13, 2025 - Report to Congress Pursuant to Section 13(3) of the Federal Reserve Act: Bank Term Funding Program. www.federalreserve.gov/publications/reports-to-congress-pursuant-to-section-13-3-btfp.htm January 13, 2025 - Federal Reserve Board announces the designation of the Chairs and Deputy Chairs of the 12 Federal Reserve Banks for 2025. www.federalreserve.gov/newsevents/pressreleases/other20250113a.htm January 10, 2025 - Butler Heritage Federal Credit Union Conserved - The National Credit Union Administration today placed Butler Heritage Federal Credit Union in Middletown, Ohio, into conservatorship. www.ncua.gov/newsroom/press-release/2025/butler-heritage-federal-credit-union-conserved  January 10, 2025 - NCUA Monitoring and Assisting Credit Unions Affected by Wildfires in Los Angeles - As wildfires continue in the Greater Los Angeles area, the National Credit Union Administration is monitoring the situation closely and has resources available to help affected credit unions. The NCUA reminds credit unions to keep in contact, if possible, with local authorities. www.ncua.gov/newsroom/press-release/2025/ncua-monitoring-and-assisting-credit-unions-affected-wildfires-los-angeles  January 10, 2025 - Civil Money Penalties: Notice Adjusting Maximum Civil Money Penalties for 2025 - On January 10, 2025, the Office of the Comptroller of the Currency published in the Federal Register the attached notice to adjust the maximum amount of each civil money penalty (CMP) within its jurisdiction pursuant to the Federal Civil Penalties Inflation Adjustment Act of 1990, as amended by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015.  www.occ.gov/news-issuances/bulletins/2025/bulletin-2025-1.html January 10, 2025 - The KCFSI suggests financial stress decreased moderately in December - The Kansas City Financial Stress Index (KCFSI) decreased moderately from −0.43 in November to −0.80 in December, remaining below its historical average. www.kansascityfed.org/data-and-trends/kansas-city-financial-stress-index-1/current-release/ January 10, 2025 - Tenth District Energy Activity Fell at a Steady Pace - Fourth quarter energy survey results revealed that Tenth District energy activity fell at a steady pace while expectations rose. www.kansascityfed.org/surveys/energy-survey/tenth-district-energy-activity-fell-at-a-steady-pace/ January 10, 2025 - Industrial Production vs. Goods GDP: Two Sides of the Same Coin? - Since the early 2000s, there has been a growing divergence between the index of industrial production and the goods component of GDP - hereafter, goods GDP - breaking the close correlation the two series had maintained in earlier decades. www.federalreserve.gov/econres/notes/feds-notes/industrial-production-vs-goods-gdp-two-sides-of-the-same-coin-20250110.html January 10, 2025 - The Euro Area has a growth problem - The decomposition of GDP into potential output—the level of output consistent with current technologies and "normal" use of capital and labor—and the output gap -  the percentage deviation of GDP from its potential - is a fundamental task for policymakers. www.federalreserve.gov/econres/notes/feds-notes/the-euro-area-has-a-growth-problem-20250110.html January 10, 2025 - The Hidden Costs of Disability - Disability can be devastating financially for households, as it can severely limit earnings potential (Meyer & Mok, 2019; Benito, Glassman, & Hiedemann, 2016; Jolly, 2013).  www.federalreserve.gov/econres/notes/feds-notes/the-hidden-costs-of-disability-20250110.html January 10, 2025 - Structure and Share Data for U.S. Banking Offices of Foreign Entities - There are two reports showing the same structure and asset information for each U.S. office, but in different orders. Offices located in Puerto Rico, American Samoa, Guam, the Virgin Islands and other U.S.-affiliated insular areas are excluded. https://www.federalreserve.gov/releases/iba/ January 10, 2025 - 2019 FOMC meeting transcripts, presentation materials, Tealbooks, and other materials - 2019 FOMC meeting transcripts, presentation materials, Tealbooks, and other materials.  www.federalreserve.gov/monetarypolicy/fomchistorical2019.htm January 10, 2025 - Federal Reserve Board announces approval of application by UMB Financial Corporation - The Federal Reserve Board on Friday announced its approval of the application by UMB Financial Corporation, of Kansas City, Missouri, to acquire Heartland Financial USA, Inc., and thereby indirectly acquire HTLF Bank, both of Denver, Colorado. www.federalreserve.gov/newsevents/pressreleases/orders20250110a.htm January 9, 2025 - Speech by Governor Bowman on monetary policy, economic performance, and lessons for banking regulation At the California Bankers Association 2025 Bank Presidents Seminar, Laguna Beach, California www.federalreserve.gov/newsevents/speech/bowman20250109a.htm January 8, 2025 - OCC Allows National Banks and Federal Savings Associations Affected by California Wildfires to Close - The Office of the Comptroller of the Currency today issued a proclamation allowing national banks, federal savings associations, and federal branches and agencies of foreign banks to close offices in areas of California affected by wildfires. www.occ.gov/news-issuances/news-releases/2025/nr-occ-2025-2.html January 8, 2025 - What do various wage measures tell us about underlying wage growth? - The increase in price inflation following the Covid pandemic has brought renewed attention to wage growth as a potentially important driver of price inflation. www.federalreserve.gov/econres/notes/feds-notes/what-do-various-wage-measures-tell-us-about-underlying-wage-growth-20250108.html January 8, 2025 - Statistical Release - Consumer Credit - G.19 - In November, consumer credit decreased at a seasonally adjusted annual rate of 1.8 percent. www.federalreserve.gov/releases/g19/current/default.htm January 8, 2025 - Speech by Governor Waller on the economic outlook At Lectures of the Governor, Organization for Economic Cooperation and Development, Paris, France.  www.federalreserve.gov/newsevents/speech/waller20250108a.htm January 8, 2025 - Minutes of the Federal Open Market Committee, December 17-18, 2024. www.federalreserve.gov/newsevents/pressreleases/monetary20250108a.htm January 7, 2025 - Oklahoma Tribal Area Economies: Rising Incomes, Falling Poverty - The previous edition of the Oklahoma Economist showed Oklahoma’s labor force participation rate recently surpassed the national rate for the first time in decades, driven especially by greater workforce participation among Native Americans. www.kansascityfed.org/oklahomacity/oklahoma-economist/oklahoma-tribal-area-economies-rising-incomes-falling-poverty/ January 6, 2025 - Pandemic-Era Demand Squeezed Housing Inventories - The housing market experience6 historically low levels of inventory along with rapid price growth in the two years following the onset of the pandemic. www.frbsf.org/research-and-insights/publications/economic-letter/2025/01/pandemic-era-demand-squeezed-housing-inventories/?utm_source=frbsf-homepage&utm_medium=latest_carousel&utm_campaign=jan_25&utm_id=economic-letter January 6, 2025 - Credit Union Diversity Self-Assessment Results for 2023 Are Now Available - The voluntary credit union diversity self-assessment helps federally insured credit unions to assess their diversity, equity, and inclusion efforts. www.ncua.gov/newsroom/press-release/2025/credit-union-diversity-self-assessment-results-2023-are-now-available  January 6, 2025 - Foreign Exchange Rates - G.5A Annual - The table below shows the average rates of exchange in 2024 together with comparable figures for other years. www.federalreserve.gov/releases/g5a/current/default.htm January 6, 2025 - Nonparametric Time Varying IV-SVARs: Estimation and Inference - This paper studies the estimation and inference of time-varying impulse response functions in structural vector autoregressions identified with external instruments. www.federalreserve.gov/econres/feds/nonparametric-time-varying-iv-svars-estimation-and-inference.htm January 6, 2025 - Predicting College Closures and Financial Distress - In this paper, we assemble the most comprehensive dataset to date on the characteristics of colleges and universities, including dates of operation, institutional setting, student body, staff, and finance data from 2002 to 2023. www.federalreserve.gov/econres/feds/predicting-college-closures-and-financial-distress.htm January 6, 2025 - "Good" Inflation, "Bad" Inflation: Implications for Risky Asset Prices - Using inflation swap prices, we study how changes in expected inflation affect firm-level credit spreads and equity returns, and uncover evidence of a time-varying inflation sensitivity. www.federalreserve.gov/econres/feds/good-inflation-bad-inflation-implications-for-risky-asset-prices.htm January 6, 2025 - Speech by Governor Cook on the economic outlook and financial stability At the Seventh Conference on Law and Macroeconomics, University of Michigan Law School, Ann Arbor, Michigan www.federalreserve.gov/newsevents/speech/cook20250106a.htm January 6, 2025 - Federal Reserve Board announces Michael S. Barr will step down from his position as Federal Reserve Board Vice Chair for Supervision, effective February 28, 2025, and will continue to serve as governor. www.federalreserve.gov/newsevents/pressreleases/other20250106a.htm January 3, 2025 - 2025 Midwest Economic Forecast Forum Moderated Q&A - Austan Goolsbee, president and CEO of the Federal Reserve Bank of Chicago, will discuss the economy at the Wisconsin Bankers Association 2025 Midwest Economic Forecast Forum. The virtual event will be livestreamed on this page from 11 am to Noon CT on January 15, 2024. www.chicagofed.org/publications/speeches/2025/jan-15-midwest-economic-forecast January 3, 2025 - Missing Data Substitution for Enhanced Robust Filtering and Forecasting in Linear State-Space Models - Replacing faulty measurements with missing values can suppress outlier-induced distortions in state-space inference. www.federalreserve.gov/econres/feds/missing-data-substitution-for-enhanced-robust-filtering-and-forecasting-in-linear-state-space-models.htm January 3, 2025 - Using Service Provider Connections to Model Operational Payment Networks - Due to increasing reliance on technology service providers to facilitate critical functions within financial markets, such as transaction settlement or funds transfer, increased attention is being paid to how disruptions to such technology could impact financial stability. www.federalreserve.gov/econres/notes/feds-notes/using-service-provider-connections-to-model-operational-payment-networks-20250103.html January 3, 2025 - FOIA - Chair Powell's calendar, November 2024.  www.federalreserve.gov/foia/chairman-powell-calendar.htm January 3, 2025 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update.  www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm January 2, 2025 - OCC Releases CRA Performance Evaluations for 16 National Banks and Federal Savings Associations - The Office of the Comptroller of the Currency today released a list of Community Reinvestment Act performance evaluations that became public during the period of December 1, 2024, through December 31, 2024. www.occ.gov/news-issuances/news-releases/2025/nr-occ-2025-1.html January 2, 2025 - Statistical Release - Foreign Exchange Rates - G.5 The table below shows the average rates of exchange in DECEMBER 2024 together with comparable figures for other months.  www.federalreserve.gov/releases/g5/current/

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