First Quarter, Volume 24, Number 1

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Vol. 24, No. 1,
First Quarter 2011


Outlook for Economy in 2011 and Beyond Discussed

Anti-Money Laundering Guide Published in Spanish

Atlanta Fed Chief Discusses Employment

Atlanta Fed Chief Discusses Outlook

Banks' Loan Officers See Easing Standards

Fed Gov. Duke on Her Career Path

Consumer Credit Rises in December

New Rule Supports Areas Hit by Foreclosure

Regulators Revise CRA Size Thresholds

Atlanta Fed Chief Sees Growth, Challenges in '11

Reserve Banks Transfer Money to U.S. Treasury



Circular Letters


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Editor's Note: This publication is posted on a rolling schedule and content will be added throughout the quarter.
Updated March 30, 2011
photo of Atlanta Fed. President Lockhart Atlanta Fed President Lockhart Discusses Economic Outlook, Policymaking
3/30/2011 - Dennis Lockhart, president and chief executive officer of the Atlanta Fed, recently discussed his economic outlook and the role of monetary policymaking. While he sees employment improving and inflation remaining low and stable in the near term, he also views global unrest as a risk to the outlook.
photo of bills on a clothesline Federal Reserve Issues Spanish-Language Version of Examination Manual
3/30/2011 - To make the regulatory expectations regarding Bank Secrecy Act/Anti–Money Laundering compliance programs accessible to a wider group of people, the Federal Reserve Board recently announced the release of a Spanish-language version of the 2010 Bank Secrecy Act/Anti–Money Laundering Examination Manual.
photo of Atlanta Fed. President Lockhart Atlanta Fed President Describes "Multifaceted" Employment Challenges
3/30/2011 - The U.S. unemployment rate has been persistently high, and Atlanta Fed President and CEO Dennis Lockhart recently addressed some of the possible causes, including a mismatch between job seekers' skills and those demanded by the labor market, extended unemployment benefits, and strong productivity growth.
photo of Atlanta Fed. President Lockhart Economic Outlook One of "Cautious Optimism," Says Atlanta Fed's Lockhart
2/25/2011 - Although the U.S. economy has improved, an accommodative Fed policy is needed, Atlanta Fed President Dennis Lockhart said recently. The Atlanta Fed's business contacts have begun to sound more optimistic, he noted, but the persistently high unemployment rate tempers his outlook.
photo of man signing a document Business Access to Credit Improves, Says Fed Survey
2/25/2011 - Banks continued easing standards and terms on loans to businesses during the fourth quarter of 2010, according to the Fed's most recent survey of loan officers. The survey also noted an overall increase in demand for business loans in the fourth quarter.
photo of Fed Gov. Duke Fed Gov. Duke Reflects on Journey from Community Banker to Central Banker
2/25/2011 - As a former community banker, Federal Reserve Governor Elizabeth Duke brings a unique perspective to her role as a central banker. Duke recently spoke about her experiences and how they shaped her outlook on banking and the economy.
photo of hand holding credit card Consumer Credit Gains $6.1 Billion in December 2010
2/25/2011 - U.S. consumers loosened their grip on their credit cards for the third straight month in December, according to new Federal Reserve data. Consumer credit outstanding increased at a 3 percent annual rate, up $6.1 billion from November 2010.
foreclosure sign New CRA Regulations Support Stabilization Efforts in High-Foreclosure Areas
1/25/2011 - Federal banking regulators have issued a rule giving financial institutions incentives to support foreclosure-stricken communities. The rule allows financial institutions to receive favorable consideration in their Community Reinvestment Act examinations when they lend, invest, or provide services that further the purchase and redevelopment of foreclosed, abandoned, or vacant properties.
photo of bank sign Banking Regulators Set New CRA Asset-Size Thresholds
1/25/2011 - The Federal Reserve Board and other federal banking regulators recently revised the asset-size thresholds used to classify "small" and "intermediate small" banks and savings associations under Community Reinvestment Act regulations.
photo of Atlanta Fed President Dennis Lockhart Lockhart Foresees Sustainable Growth Despite Headwinds
1/25/2011 - The U.S. economy appears to have gained momentum, Atlanta Fed President Dennis Lockhart said in a recent speech. Though obstacles remain, Lockhart said he expects growth in gross domestic product, personal incomes, and jobs to improve this year.
photo of Treasury building Reserve Banks Return $78 Billion to U.S. Treasury
1/25/2011 - In 2010, the Federal Reserve System transferred $78.4 billion to the U.S. Treasury. This revenue represents most of the Reserve Banks' net income and came from a number of sources.