Board of Governors of the Federal Reserve System

Bank of New York (in the absence of Mr. Rouse, Manager of the System Account...banks would be supplied by sales of bills to the Reserve Banks under the

bank holding company, owns and controls The Citizens Bank of East Tennessee...Bank”), a state-chartered nonmember bank, and a nonbank subsidiary; WHEREAS

bank holding company, owns and controls Cornerstone Bank, Wilson, North...Bank”), a state-chartered nonmember bank, and a nonbank subsidiary; WHEREAS

bank holding company, owns and controls Access Bank, Champlin, Minnesota...Bank”), a state nonmember bank, and one nonbank subsidiary; WHEREAS, it

Page 1 of 15 July 18, 2014 Recent Weakness in Housing Activity and the Staff Outlook for the Housing Sector By Raven Molloy and Kamila Sommer

Bank of Philadelphia 1 We thank Hess Chung, Jean‐Phillipe Laforte, Marco

banks’ ability to raise capital. Association members also commented on...bank lending, and they cautioned against a hasty implementation of the

banks as a result of required rulemakings under Dodd- Frank and said regulators...banks' lending and on the economy more broadly. Regarding the Board's

bank holding company, owns and controls PremierWest Bank, Medford, Oregon...Bank issued by the Bank’s federal regulator; (b) the adequacy of the Bank

bank credit was more moderate be cause banks were meeting a large part...Bank of New York, rather than all Federal Reserve Banks, be authorized