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TH E M R EP O RT | 9 FROM THE SOURCE SHARE THIS: FINAL GUIDELINES FOR LARGE BANK RECOVERY PLANS OCC.gov In late September, the Office of the Comptroller of the Currency (OCC) pub- lished final guidelines for OCC-regulated institutions' recovery planning in the event of severe economic stress. The guidelines include options that help those institutions remain viable if severe economic stress should occur. Each institution's plan should be reviewed annually by its board or by a committee of the board. To view the guide - lines, visit the OCC's website at OCC.gov. READ THIS: HALL OF MIRRORS: THE GREAT DEPRESSION, THE GREAT RECESSION, AND THE USES—AND MISUSES—OF HISTORY By: Barry Eichengreen When financial markets crashed in 2008, policymakers turned to the lessons learned during the Great Depression of the 1930s in order to prevent a repeat. While the coun- try avoided another depression as cata- strophic as that one, the U.S. and Europe both experienced high levels of unemploy- ment. Eichengreen examines the two crises and policymakers' response in 2008, that resulted in a slow recovery in both the U.S. and Europe. WATCH THIS: FEDERAL RESERVE GOV. DANIEL TARULLO: NEXT STEPS IN THE EVOLUTION OF STRESS TESTING YouTube.com/user/YaleSchOfManagement The Fed governor Daniel Tarullo told an audience at Yale University in late September that the central bank will be requiring the eight largest bank holding companies to hold more capital as part of the Fed's annual Comprehensive Capital Analysis and Review (CCAR). In the same speech, Tarullo announced an exemption from the CCAR for approximately two dozen banks, with less than $250 billion in assets, or that do not have significant international banking activity. To watch Tarullo's speech, visit the Yale School of Management's YouTube channel. TWEET THIS: #PRMSAVINGS The hashtag #PRMSavings is part of an extensive social media campaign launched by the Federal Housing Finance Agency (FHFA) in early October to reach those borrowers who are eligible for the Principal Reduction Modification program announced back in April. Borrowers may be eligible if their loans are owned or guaranteed by Fannie Mae or Freddie Mac, they were 90 days or more delinquent on their mortgage payments, and have an outstanding unpaid principal balance of $250,000 or less as of March 1, they owe more than 115 percent of what their house is worth, and live in their home.