Federal Reserve: Inequality in 3-D – Income, Consumption and Wealth
Finance and Economics Discussion Series (FEDS) Inequality in 3-D: Income, Consumption, and Wealth (PDF) by Jonathan Fisher, David Johnson, Timothy Smeeding, and Jeffrey Thompson Abstract: We do not need to and should not have to choose amongst income, consumption, or wealth as the superior measure of well-being. All three individually and jointly determine well-being. We…
Federal Reserve: Recent Trends in Small Business Lending and the Community Reinvestment Act
Tim Dore and Traci Mach In this note, we analyze data on small business loan originations collected under the Community Reinvestment Act (CRA) to document heterogeneity in the recovery in small business lending since the financial crisis. Small business loan originations by CRA respondents declined significantly between 2007 and 2010 and, by 2016, have only…
Federal Reserve: Assessing the Severity of Rent Burden on Low-Income Families
Jeff Larrimore, Board of Governors of the Federal Reserve System,1 and Jenny Schuetz, Brookings Institution Housing costs are a severe financial burden to many low-income families. The typical renter in the bottom quintile of the income distribution spends more than half of monthly income on rent and has less than $500 dollars left after paying…
Federal Reserve: Expectations for Supervised Institutions Regarding Amended Regulation C
Expectations for Supervised Institutions Regarding Amended Regulation C Applicability to Community Banking Organizations: This guidance applies to all institutions supervised by the Federal Reserve, including those with total consolidated assets of $10 billion or less. This letter provides guidance on the Federal Reserve Board’s supervisory expectations in connection with early examinations of Board-supervised institutions for…
Federal Reserve: Regulation C Repealed and Public Comment Sought on Proposed Revisions to Regulation M
The Federal Reserve Board on Monday announced the repeal of one regulation and the revision of a second to reflect the transfer of certain consumer protection rulewriting authority to the Consumer Financial Protection Bureau (CFPB). The Board is publishing a final rule to repeal Regulation C (Home Mortgage Disclosure), which has been superseded by final…
Interagency Guidance: Examiner Guidance for Institutions Affected by Major Disasters Released
Printable Format: FDIC FIL-62-2017 – PDF (PDF Help) OCC Bulletin 2017-61 Federal Reserve SR 17-14 Summary: The federal financial institution regulatory agencies, in consultation with the Conference of State Bank Supervisors, have jointly issued the attached guidance outlining the supervisory practices to be followed in assessing the financial condition of insured depository institutions and branches and…
Federal Reserve: Speech – Workforce Development in Today’s Economy
Governor Lael Brainard At “Leading the Way: A Workforce Development Video Campaign” awards ceremony hosted by the Federal Reserve Bank of New York and Pathways in Technology Early College High Schools in the Greater Rochester Area, Rochester, N.Y. I would like to thank the staff at the Federal Reserve Bank of New York for inviting…
Federal Reserve: FEDS | Bank Failures, Capital Buffers and Exposure to the Housing Market Bubble
Bank Failures, Capital Buffers, and Exposure to the Housing Market Bubble (PDF) Gazi I. Kara and Cindy M. Vojtech Abstract: We empirically document that banks with greater exposure to high home price-to-income ratio regions in 2005 and 2006 have higher mortgage delinquency and charge-off rates and significantly higher probabilities of failure during the last financial crisis…
Federal Reserve: FEDS | On Intergenerational Immobility – Evidence that Adult Credit Health Reflects the Childhood Environment
March 2017 (Revised November 2017) On Intergenerational Immobility: Evidence that Adult Credit Health Reflects the Childhood Environment (PDF) Sarena Goodman, Alice Henriques, and Alvaro Mezza Abstract: Using a novel dataset that links socioeconomic background to future credit, postsecondary education, and federal student loan and grant records, we document that, even though it is not and…