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Showing posts with the label FRB | Press Release.

Federal Reserve Board | Press Release: The Federal Reserve Governors of the Federal Reserve System announces approval of application by The Charles Schwab Corporation on March 20, 2018.

PRESS RELEASE The Federal Reserve Board on Tuesday announced its approval of the application under section 10(e) of the Home Owners' Loan Act by The Charles Schwab Corporation, San Francisco, California, to acquire Charles Schwab Trust Bank, Henderson, Nevada. Attached is the Board's order relating to this action. For media inquiries, call 202-452-2955. Attachment (PDF)

FRB | G.17 - Industrial Production and Capacity Utilization - Release Date: January 15, 2016.

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  Industrial Production and Capacity Utilization - G.17

FRB | Press Release - November 19, 2015: Federal Reserve Board Announces Termination of Enforcement Actions.

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Release Date: November 19, 2015 The Federal Reserve Board on Thursday announced the termination of the enforcement actions listed below:  Regent Bancorp, Inc., Davie, Florida Written Agreement issued April 25, 2011 Terminated November 10, 2015 Jones Bancshares, L.P. and PrimeSouth Bancshares, Inc., both of Waycross, Georgia Written Agreement issued July 12, 2011 Terminated November 13, 2015 Search of Federal Reserve enforcement actions. For media inquiries, call 202-452-2955. 2015 Enforcement Actions     Last update: November 19, 2015

Federal Reserve Board Approves Enhancements to Reserve Banks' Same-Day ACH Service: FRB | Press Release - September 23, 2015.

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Press Release Release Date: September 23, 2015 The Federal Reserve Board on Wednesday announced the approval of enhancements to the Federal Reserve Banks' same-day automated clearing house (ACH) service. The enhancements are intended to align the Reserve Banks' same-day ACH service with recent amendments to NACHA's ACH operating rules and will facilitate the use of the ACH network for certain time-critical payments, accelerate final settlement, and improve funds availability to payment recipients. The enhancements become effective September 23, 2016, and require receiving depository financial institutions (RDFIs) to participate in the service and originating depository financial institutions (ODFIs) to pay a fee to RDFIs for each same-day ACH forward transaction. The enhancements will be adopted by incorporation of NACHA's amended operating rules into Operating Circular 4, governing the Res

FRB | Press Release - May 6, 2014: Federal Reserve Board announces termination of enforcement actions

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Press Release Release Date: May 6, 2014 For immediate release The Federal Reserve Board on Tuesday announced the termination of the enforcement actions listed below: Continental Bank Holdings, Inc., Plymouth Meeting, Pennsylvania Cease and Desist Order issued by the Office of Thrift Supervision dated February 28, 2011 Terminated May 3, 2014 First National Bancshares of Central Alabama, Inc., Tuscaloosa, Alabama Written Agreement dated June 23, 2011 Terminated May 2, 2014 HMN Financial, Inc., Rochester, Minnesota Supervisory Agreement issued by the Office of Thrift Supervision dated February 22, 2011 Terminated May 1, 2014 Lincoln Federal Bancorp, M.H.C. and Lincoln Federal Bancorp, Inc., both of Lincoln, Nebraska Cease and Desist Orders issued by the Office of Thrift Supervision dated October 6, 2009 Terminated May 2, 2014 Search of Federal Reserve enforcement actions. For media inquiries, call 202-452-2955. 2014 Enforcement Actions   Last update: May

FRB | Press Release - April 30, 2014: Federal Reserve issues FOMC statement.

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Press Release Release Date: April 30, 2014 For immediate release Information received since the Federal Open Market Committee met in March indicates that growth in economic activity has picked up recently, after having slowed sharply during the winter in part because of adverse weather conditions. Labor market indicators were mixed but on balance showed further improvement. The unemployment rate, however, remains elevated. Household spending appears to be rising more quickly. Business fixed investment edged down, while the recovery in the housing sector remained slow. Fiscal policy is restraining economic growth, although the extent of restraint is diminishing. Inflation has been running below the Committee's longer-run objective, but longer-term inflation expectations have remained stable. Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. The Committee expects that, with appropriate policy accommodation, eco

FRB | Press Release - April 29, 2014: Federal Reserve Board announces termination of enforcement actions

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Press Release Release Date: April 29, 2014 For immediate release The Federal Reserve Board on Tuesday announced the termination of the enforcement actions listed below: Cornerstone Bancorp, Inc., St. Petersburg, Florida Written Agreement dated July 23, 2012 Terminated April 24, 2014 Liberty Bancorp and Liberty Bank, both of South San Francisco, California Written Agreement dated October 25, 2011 Terminated April 25, 2014 Search of Federal Reserve enforcement actions . For media inquiries, call 202-452-2955. 2014 Enforcement Actions   Last update: April 29, 2014

FRB | Press Release - April 28, 2014: Federal Reserve Board announces it is requiring Bank of America Corporation to resubmit its capital plan and to suspend planned increases in capital distributions

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Press Release Release Date: April 28, 2014 For release at 9:00 a.m. EDT The Federal Reserve Board on Monday announced it is requiring Bank of America Corporation to resubmit its capital plan and to suspend planned increases in capital distributions. The decision relates to the disclosure by Bank of America that the banking organization incorrectly reported data used in the calculation of regulatory capital ratios and submitted as inputs for the most recent stress tests conducted by the Federal Reserve.   The Federal Reserve can require a banking organization that is part of the annual Comprehensive Capital Analysis and Review (CCAR) program to resubmit its capital plan at any time if there is a material change that could potentially lead to an alteration in a firm's capital position. Bank of America will be required to resubmit its capital plan within 30 days, unless that time is extended by the Federal Reserve. Bank of America must address the quantitative errors in

FRB | Termination Enforcement Actions Press Release -April 24, 2014.

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Press Release Release Date: April 24, 2014 For immediate release The Federal Reserve Board on Thursday announced the termination of the enforcement actions listed below: Farmers Bancorporation, Inc., Buhl, Idaho Written Agreement dated April 28, 2010 Terminated April 21, 2014 Great River Holding Company, Baxter, Minnesota Cease and Desist Order issued by the Office of Thrift Supervision dated December 6, 2010 Terminated April 21, 2014 Search of Federal Reserve enforcement actions . For media inquiries, call 202-452-2955.

FRB | Press Release - April 17, 2014: Announces consent order of prohibition against Darryl Woods.

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Press Release Release Date: April 17, 2014 For immediate release The Federal Reserve Board on Thursday announced the issuance of a Consent Order of Prohibition against Darryl Woods, the former President and Chairman of the board of directors of Calvert Financial Corporation, Ashland, Missouri, a registered bank holding company, and the former Chief Financial Officer and Chairman of the board of directors of Mainstreet Bank, Ashland, Missouri, a state-member bank. Woods consented to the issuance of the order, which is based on his participation in unsafe and unsound practices, breaches of fiduciary duty, and violations of law and regulation in connection with his and the company's use of funds through the Troubled Asset Relief Program ("TARP"). The purpose of TARP was to provide capital to financial institutions to enable them to build their capital base and to increase the flow of financing to businesses and individuals. In addition to the Board's orde

FRB | Press Release - April 16, 2014: Industrial Production and Capacity Utilization - G.17.

Current Release   (253 KB PDF)   (ASCII) Release Date: April 16, 2014 Annual Revision Notice Below Industrial production increased 0.7 percent in March after having advanced 1.2 percent in February. The rise in February was higher than previously reported primarily because of stronger gains for durable goods manufacturing and for mining. For the first quarter as a whole, industrial production moved up at an annual rate of 4.4 percent, just slightly slower than in the fourth quarter of 2013. In March, the output of manufacturing rose 0.5 percent, the output of utilities increased 1.0 percent, and the output of mines gained 1.5 percent. At 103.2 percent of its 2007 average, total industrial production in March was 3.8 percent above its level of a year earlier. Capacity utilization for total industry increased in March to 79.2 percent, a rate that is 0.9 percentage point below its long-run (1972–2013) average but 1.2 percentage points higher than a year prior. Industrial Produc

FRB | Press Release - April 7, 2014: G.19 Consumer Credit

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Current Release  (PDF) February 2014 Release Date * : April 7, 2014 In February, consumer credit increased at a seasonally adjusted annual rate of 6-1/2 percent. Revolving credit decreased at an annual rate of 3-1/2 percent, while nonrevolving credit increased at an annual rate of 10 percent. Consumer Credit Outstanding Levels Flows

FRB | Press Release - April 7, 2014: Federal Reserve Board announces approval of application by Old National Bancorp.

Press Release Release Date: April 7, 2014 For immediate release The Federal Reserve Board on Monday announced its approval of the application under section 3 of the Bank Holding Company Act by Old National Bancorp, Evansville, Indiana, to merge with Tower Financial Corporation and thereby indirectly acquire Tower Bank and Trust Company, both of Fort Wayne, Indiana. Attached is the Board's Order relating to this action. For media inquiries, call 202-452-2955. Attachment (100 KB PDF) Board Votes 2014 Orders on Banking Applications   Last update: April 7, 2014

FRB | Press Release - April 3, 2014: FTC Announced Termination of the Enforcement Action on Flagler Bank, West Palm Beach, Florida Written Agreement dated November 12, 2009 Terminated March 27, 2014.

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Press Release Release Date: April 3, 2014 For immediate release The Federal Reserve Board on Thursday announced the termination of the enforcement action listed below: Flagler Bank, West Palm Beach, Florida Written Agreement dated November 12, 2009 Terminated March 27, 2014 Search of Federal Reserve enforcement actions. For media inquiries, call 202-452-2955. 2014 Enforcement Actions   Last update: April 3, 2014

FRB | Press Release - April 1, 2014: FRB announces approval of notice by PacWest Bancorp.

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Press Release Release Date: April 1, 2014 For immediate release The Federal Reserve Board on Tuesday announced its approval of the notice under section 4 of the Bank Holding Company Act by PacWest Bancorp, Los Angeles, California, CapGen Capital Group II LP and CapGen Capital Group II LLC, both of New York, New York, to acquire CapitalSource Inc. and thereby indirectly acquire CapitalSource Bank, both of Los Angeles. Attached is the Board's Order relating to this action. For media inquiries, call 202-452-2955. Attachment (217 KB PDF) Board Votes 2014 Orders on Banking Applications   Last update: April 1, 2014

FRB | Press Release - April 1, 2014: Federal Reserve Board announces approval of application by Umpqua Holdings Corporation.

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Press Release Release Date: April 1, 2014 For immediate release The Federal Reserve Board on Tuesday announced its approval of the application filed by Umpqua Holdings Corporation, Portland, Oregon, to acquire Sterling Financial Corporation and thereby indirectly acquire Sterling Savings Bank, both of Spokane, Washington. Attached is the Board's Order relating to this action. For media inquiries, call 202-452-2955. Attachment (280 KB PDF) 2014 Orders on Banking Applications   Last update: April 1, 2014

FRB | Press Release - March 25, 2014: Federal Reserve announces results of offering of seven-day term desposits on March 24.

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Press Release Release Date: March 25, 2014 For release at 12:00 p.m. ET On March 24, 2014, the Federal Reserve conducted a floating-rate offering of term deposits through its Term Deposit Facility. The operation offered seven-day term deposits with the rate set equal to the sum of the interest rate paid on excess reserves plus a fixed spread of 1 basis point. Following are the results of the operation: TDF Operation ID: F38 Total Amount Awarded: $14,251,000,000 Number of Participants: 27 The awarded deposits will settle on March 27, 2014, and will mature on April 3, 2014. The operation effective rate will apply to all awarded deposits. For media inquiries, call 202-452-2955. 2014 Monetary Policy Releases   Last update: March 25, 2014

FRB | Press Release March 18, 2014: Federal Reserve announces results of offering of seven-day term deposits on March 17.

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Press Release Release Date: March 18, 2014 For release at 12:00 p.m. ET On March 17, 2014, the Federal Reserve conducted a fixed-rate offering of term deposits through its Term Deposit Facility. The operation offered seven-day term deposits at an interest rate of 0.26000 percent.  Following are the results of the operation: TDF Operation ID: F37 Total Amount Awarded: $15,413,000,000 Number of Participants: 27   The awarded deposits will settle on March 20, 2014, and will mature on March 27, 2014. The interest rate of 0.26000 percent will apply to all awarded deposits. For media inquiries, call 202-452-2955. 2014 Monetary Policy Releases

FRB | Press Release March 18, 2014: FRB Announced the Termination of Enforcement Actions on Remer Bancorporation, Inc., Remer, Minnesota.

Press Release Release Date: March 18, 2014 For immediate release The Federal Reserve Board on Tuesday announced the termination of the enforcement action listed below: Remer Bancorporation, Inc., Remer, Minnesota Written Agreement dated March 19, 2012 Terminated March 13, 2014 Search of Federal Reserve enforcement actions. For media inquiries, call 202-452-2955. 2014 Enforcement Actions   Last update: March 18, 2014

FRB | Press Release February 7, 2014: Consumer Credit - G.19.

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Consumer Credit - G.19 Current Release  (PDF) December 2013 Release Date * : February 7, 2014 Consumer credit increased at a seasonally adjusted annual rate of 6-1/2 percent during the fourth quarter. Revolving credit increased at an annual rate of 4-1/2 percent, while nonrevolving credit increased 7-1/4 percent. In December, consumer credit increased at an annual rate of 7-1/4 percent. Consumer Credit Outstanding Levels Flows