Virtual/remote audits - I am performing virtual/remote FFIEC IT/AIO audits for banks and credit unions. I am a former bank examiner with years of IT auditing experience. Please contact R. Kinney Williams at examiner@yennik.com from your bank's email and I will send you information and fees. All correspondence is confidential.

May 16, 2024 - Mary C. Daly Commencement Address at USF School of Management - President Daly will deliver the keynote address at the 2024 commencement ceremony for the University of San Francisco School of Management. www.frbsf.org/news-and-media/events/2024/05/mary-c-daly-usf-school-of-management-commencement-address-2024/

May 16, 2024 - Acting Comptroller Testifies on Agency Activities - In his testimony, Mr. Hsu discussed the condition of the federal banking system and recent regulatory initiatives. www.occ.gov/news-issuances/news-releases/2024/nr-occ-2024-52.html

May 16, 2024 - Statistical Release - Industrial Production and Capacity Utilization - G.17 - Manufacturing output decreased 0.3 percent; excluding motor vehicles and parts, manufacturing output edged down 0.1 percent. www.federalreserve.gov/releases/g17/current/default.htm

May 15, 2024 - Acting Comptroller Testifies on Agency Priorities - In his testimony, Mr. Hsu discussed the OCC’s work to guard against complacency, adapt to digitalization, manage climate-related financial risk, and promote fairness in banking. www.occ.gov/news-issuances/news-releases/2024/nr-occ-2024-51.html

May 15, 2024 - Testimony by Vice Chair for Supervision Michael S. Barr Testimony by Vice Chair for Supervision Michael S. Barr.   www.federalreserve.gov/newsevents/testimony/barr20240515a.htm

May 15, 2024 - Speech by Governor Bowman on innovation and the evolving financial landscape At The Digital Chamber DC Blockchain Summit 2024, Washington, D.C. www.federalreserve.gov/newsevents/speech/bowman20240515a.htm

May 15, 2024 - Testimony by Vice Chair for Supervision Barr on supervision and regulation Before the Committee on Financial Services, U.S. House of Representatives, Washington, D.C. www.federalreserve.gov/newsevents/testimony/barr20240515a.htm

May 14, 2024 - Agencies Announce Public Meeting on Proposed Acquisition by Capital One of Discover; Public Comment Period Extended - The proposal includes the merger of Discover Bank, of Greenwood, Delaware, into Capital One, National Association, of McLean, Virginia. www.occ.gov/news-issuances/news-releases/2024/nr-ia-2024-50.html

May 14, 2024 - AgLetter: May 2024 By David Oppedahl - In the first quarter of 2024, the Seventh Federal Reserve District’s farmland values saw a 4 percent increase from a year ago—the smallest year-over-year gain in three and a half years. www.chicagofed.org/publications/agletter/2020-2024/may-2024

May 14, 2024 - Speech by Governor Cook on growth and change at community development financial institutions At the Expanding Access to Capital for CDFIs event, hosted by the Federal Reserve Bank of New York, New York, New York. www.federalreserve.gov/newsevents/speech/cook20240514a.htm

May 13, 2024 - Are Markups Driving the Ups and Downs of Inflation? - Since 2021, markups have risen substantially in a few industries such as motor vehicles and petroleum. www.frbsf.org/research-and-insights/publications/economic-letter/2024/05/are-markups-driving-ups-and-downs-of-inflation/ 

May 13, 2024 - Chairman Harper’s Statement on His Temporary Leave of Absence - Today, National Credit Union Administration Chairman Todd M. Harper issued the following message to the agency’s employees informing them he is temporarily stepping away from his daily duties to undergo and recover from back surgery. https://ncua.gov/newsroom/press-release/2024/chairman-harpers-statement-his-temporary-leave-absence

May 13, 2024 - Publications - Report and Disclosures on Funding, Credit, Liquidity, and Loan Facilities. www.federalreserve.gov/publications/reports-to-congress-in-response-to-covid-19.htm

May 13, 2024 - Publications - Report to Congress Pursuant to Section 13(3) of the Federal Reserve Act: Bank Term Funding Program.  www.federalreserve.gov/publications/reports-to-congress-pursuant-to-section-13-3-btfp.htm

May 13, 2024 - Speech by Vice Chair Philip N. Jefferson - Communicating about Monetary Policy At “Central Bank Communications: Theory and Practice,” a conference hosted by the Federal Reserve Bank of Cleveland, Cleveland, Ohio.  www.federalreserve.gov/newsevents/speech/jefferson20240513a.htm

May 13, 2024 - Agencies announce inflation-adjusted dollar thresholds for Regulation CC funds availability.  www.federalreserve.gov/newsevents/pressreleases/bcreg20240513a.htm

May 10, 2024 - Economic Club of Minnesota Luncheon - Austan D. Goolsbee, president and chief executive officer of the Federal Reserve Bank of Chicago, participated in a moderated Q&A at the Economic Club of Minnesota on May 10, 2024. www.chicagofed.org/publications/speeches/2024/may-10-economic-club-minnesota

May 10, 2024 - Acting Comptroller Issues Statement on Financial Stability Oversight Council’s Report on Nonbank Mortgage Servicing - Acting Comptroller of the Currency Michael J. Hsu today issued the following statement in support of the vote by the Financial Stability Oversight Council to issue its Report on Nonbank Mortgage Servicing: www.occ.gov/news-issuances/news-releases/2024/nr-occ-2024-49.html

May 10, 2024 - Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Ohio Affected by Tornadoes. www.fdic.gov/news/financial-institution-letters/guidance-help-financial-institutions-and-facilitate-recovery-1

May 10, 2024 - Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Nebraska Affected by Severe Storms, Straight-line Winds, and Tornadoes.   www.fdic.gov/news/financial-institution-letters/guidance-help-financial-institutions-and-facilitate-recovery-0

May 10, 2024 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

May 10, 2024 - Monetary Policy and Exchange Rates during the Global Tightening - Most central banks tightened monetary policy considerably over the past few years as inflation surged globally. www.federalreserve.gov/econres/notes/feds-notes/monetary-policy-and-exchange-rates-during-the-global-tightening-20240510.html

May 10, 2024 - Why Do Mutual Funds Invest in Treasury Futures? - Asset managers' net long positions in Treasury futures have reached their historical highs in recent months, driven in part by mutual funds' demand for short- and medium-term Treasury futures. www.federalreserve.gov/econres/notes/feds-notes/why-do-mutual-funds-invest-in-treasury-futures-20240510.html

May 10, 2024 - Supervision and Regulation Report - The report summarizes banking conditions and the Federal Reserve’s supervisory and regulatory activities, in conjunction with semiannual testimony before Congress by the Vice Chair for Supervision. www.federalreserve.gov/publications/supervision-and-regulation-report.htm

May 10, 2024 - Remarks by Governor Bowman on financial stability risks At the Texas Bankers Association 2024 Annual Meeting, Arlington, Texas.   www.federalreserve.gov/newsevents/speech/bowman20240510a.htm

May 10, 2024 - Remarks by Vice Chair for Supervision Barr at the American University School of Public Affairs graduation ceremony At the American University School of Public Affairs Graduation Ceremony, Washington, D.C. www.federalreserve.gov/newsevents/speech/barr20240510a.htm

May 9, 2024 - An Update on the Status of Remote Work from the Chicago Fed Survey of Economic Conditions By Becky Schneirov , Thomas Walstrum - In many ways, people's lives have returned to the way they were before the pandemic. www.chicagofed.org/publications/chicago-fed-insights/2024/update-remote-work-survey-results

May 9, 2024 - Stress Testing the Corporate Debt Servicing Capacity: A Scenario Analysis - The total volume of outstanding debt issued by U.S. nonfinancial firms relative to GDP has increased by about 8 percentage points in the past decade. www.federalreserve.gov/econres/notes/feds-notes/stress-testing-the-corporate-debt-servicing-capacity-a-scenario-analysis-20240509.html

May 9, 2024 - Federal Reserve Board releases summary of the exploratory pilot Climate Scenario Analysis exercise that it conducted with six of the nation’s largest banks.   www.federalreserve.gov/newsevents/pressreleases/other20240509a.htm
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May 7, 2024 - GAO identified two priority recommendations for the Federal Deposit Insurance Corporation (FDIC). https://www.gao.gov/products/gao-24-107275

May 7, 2024 - GAO identified two priority recommendations for the Office of the Comptroller of the Currency (OCC). https://www.gao.gov/products/gao-24-107276

May 9, 2024 - Stress Testing the Corporate Debt Servicing Capacity: A Scenario Analysis - The total volume of outstanding debt issued by U.S. nonfinancial firms relative to GDP has increased by about 8 percentage points in the past decade.
www.federalreserve.gov/econres/notes/feds-notes/stress-testing-the-corporate-debt-servicing-capacity-a-scenario-analysis-20240509.html

May 8, 2024 - The Role of Core Banking Services Providers in Facilitating Instant Payments - Core banking services providers play key roles helping depository institutions offer instant payments. www.kansascityfed.org/research/payments-system-research-briefings/the-role-of-core-banking-services-providers-in-facilitating-instant-payments/

May 8, 2024 - Tale About Inflation Tails - We study probabilities of extreme inflation events in the United States and the euro area. www.federalreserve.gov/econres/feds/tale-about-inflation-tails.htm

May 8, 2024 - Speech by Governor Cook on financial stability At the Brookings Institution, Washington, D.C. www.federalreserve.gov/newsevents/speech/cook20240508a.htm

May 7, 2024 - FDIC Special Review Committee Releases Independent Report on Workplace Misconduct and Culture- The Federal Deposit Insurance Corporation today released the report from the independent third-party review of allegations of sexual harassment and other interpersonal misconduct at the FDIC and management�s response to that harassment and misconduct, and the independent third-party assessment of the FDIC�s workplace culture. www.fdic.gov/news/press-releases/fdic-special-review-committee-releases-independent-report-workplace-misconduct

May 7, 2024 - FDIC Chairman Addresses Independent Third-Party Report in Message to Employees - In a message to employees, Federal Deposit Insurance Corporation Chairman Martin J. Gruenberg addressed the independent third-party report released today by the Special Review Committee of the FDIC Board of Directors. www.fdic.gov/news/press-releases/fdic-chairman-addresses-independent-third-party-report-message-employees

May 7, 2024 - Statistical Release - Consumer Credit - G.19 - The Federal Reserve Board announced on March 7, 2024 the following changes to the Consumer Credit statistical release: Beginning with the April 2024 G.19 Consumer Credit release, scheduled to be published on June 7, 2024, data for the Finance Companies New Car Loan Terms of Credit series will be produced from Experian's Velocity Risk Report instead of Experian's Autocount Risk Report.
www.federalreserve.gov/releases/g19/current/default.htm

May 7, 2024 - Third-Party Risk Management: A Guide for Community Banks - The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency are releasing a guide intended to assist community banks when developing and implementing their third-party risk management practices.
www.federalreserve.gov/supervisionreg/srletters/SR2402.htm 

May 7, 2024 - Federal Reserve Board issues enforcement action with First Citizens Bank of Butte. www.federalreserve.gov/newsevents/pressreleases/enforcement20240507a.htm

May 6, 2024 - Economic Effects of Tighter Lending by Banks - Banks tightened the criteria used to approve loans over the past year. www.frbsf.org/research-and-insights/publications/economic-letter/2024/05/economic-effects-of-tighter-lending-by-banks/

May 6, 2024 - Acting Comptroller Issues Statement on Notice of Proposed Rulemaking on Incentive Compensation - Acting Comptroller of the Currency Michael J. Hsu today issued the following statement supporting an interagency notice of proposed rulemaking on incentive compensation. www.occ.gov/news-issuances/news-releases/2024/nr-occ-2024-48.html

May 6, 2024 - Agencies Issue Proposal on Incentive-Based Compensation - The Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the Federal Housing Finance Agency, have adopted a Notice of Proposed Rulemaking to address incentive-based compensation arrangements, as required under section 956 of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Press Release: www.fdic.gov/news/press-releases/agencies-issue-proposal-incentive-based-compensation
Press Release: www.occ.gov/news-issuances/news-releases/2024/nr-ia-2024-47.html
Press Release: https://ncua.gov/newsroom/press-release/2024/agencies-issue-proposal-incentive-based-compensation

May 6, 2024 - Surveys and Reports - Senior Loan Officer Opinion Survey on Bank Lending Practices, April 2024. https://www.federalreserve.gov/data/sloos.htm

May 6, 2024 - Corporate Bond Issuance Over Financial Stress Episodes: A Global Perspective - We use a merged global data set of security-level corporate bond issuance and firm-level financial statement data to show that, in contrast to earlier periods of financial stress, during the COVID pandemic nonfinancial firms around the world were more likely to issue bonds, driven by a boom in local-currency-denominated issuance. www.federalreserve.gov/econres/ifdp/corporate-bond-issuance-over-financial-stress-episodes-a-global-perspective.htm

May 4, 2024 - Commencement speech by Governor Cook at the Georgia College and State University College of Business and Technology and College of Arts and Sciences At the 2024 Commencement, Georgia College and State University College of Business and Technology and College of Arts and Sciences, at separate ceremonies, Milledgeville, Georgia.   www.federalreserve.gov/newsevents/speech/cook20240504a.htm

May 3, 2024 - Hoover Institution Conference: Getting Global Monetary Policy on Track - Austan D. Goolsbee, president and chief executive officer of the Federal Reserve Bank of Chicago, delivered a policy speech discussing ways to improve Federal Reserve communications while participating in a panel discussion at the Hoover Institution Monetary Policy Conference: Getting Global Monetary Policy On Track, at Stanford University on May 3, 2024. www.chicagofed.org/publications/speeches/2024/may-3-hoover-institution

May 3, 2024 - Current Monetary Policy May Be Less Restrictive Than It Seems - Compared with most historical inflationary episodes since the 1960s, the current U.S. inflation cycle features both higher core inflation and a more resilient real economy. www.kansascityfed.org/research/economic-bulletin/current-monetary-policy-may-be-less-restrictive-than-it-seems/

May 3, 2024 - Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Oklahoma Affected by Severe Storms, Straight-line Winds, Tornadoes, and Flooding,   www.fdic.gov/news/financial-institution-letters/guidance-help-financial-institutions-and-facilitate-recovery

May 3, 2024 - Third-Party Risk Management, A Guide for Community Banks - The Federal Deposit Insurance Corporation, along with the Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency, are issuing the Third-Party Risk Management, A Guide for Community Banks, as a resource to help community banks in developing and implementing their third-party risk management programs, policies, and practices. www.fdic.gov/news/financial-institution-letters/third-party-risk-management-guide-community-banks

May 3, 2024 - FDIC Issues List of Banks Examined for CRA Compliance - The list covers evaluation ratings that the FDIC assigned to institutions in February 2024. www.fdic.gov/news/press-releases/fdic-issues-list-banks-examined-cra-compliance

May 3, 2024 - Estimating the importance of monetary policy shocks for variation in the U.S. homeownership rate -In general, relative to renting, people see homeownership as a path to wealth through the usual appreciation of the house prices and the forced savings through mortgage payments but also a path to financial stability through more stable and predictable housing costs. www.federalreserve.gov/econres/notes/feds-notes/estimating-the-importance-of-monetary-policy-shocks-for-variation-in-the-u-s-homeownership-rate-20240503.html

May 3, 2024 - FOIA - Chair Powell's calendar, March 2024. www.federalreserve.gov/foia/chairman-powell-calendar.htm

May 3, 2024 - Publication - Government Performance and Results Act Annual Performance Report 2023. www.federalreserve.gov/publications/gpra.htm

May 3, 2024 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

May 3, 2024 - Firms' financing choice between short-term and long-term debts: Are they substitutes? - When selecting debt to finance their operations and investments, companies face crucial decisions regarding the appropriate types of debt. www.federalreserve.gov/econres/notes/feds-notes/firms-financing-choice-between-short-term-and-long-term-debts-are-they-substitutes-20240503.html

May 3, 2024 - Government Debt, Limited Foresight, and Longer-term Interest Rates - We study the relationship between government debt and interest rates in an environment where financial market participants have limited foresight about the future path of government debt. www.federalreserve.gov/econres/feds/government-debt-limited-foresight-and-longer-term-interest-rates.htm

May 3, 2024 - Manufacturing Sentiment: Forecasting Industrial Production with Text Analysis - This paper examines the link between industrial production and the sentiment expressed in natural language survey responses from U.S. manufacturing firms. www.federalreserve.gov/econres/feds/manufacturing-sentiment-forecasting-industrial-production-with-text-analysis.htm

May 3, 2024 - Remarks by Governor Bowman on the economy and monetary policy At the Massachusetts Bankers Association Annual Convention, Key Biscayne, Florida. 
www.federalreserve.gov/newsevents/speech/bowman20240503a.htm

May 3, 2024 - Agencies issue guide to assist community banks to develop and implement third-party risk management practices - The guide offers potential considerations, resources, and examples through each stage of the third-party relationship and may be a helpful resource for community banks.
Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20240503b.htm
Press Release: www.fdic.gov/news/press-releases/agencies-issue-guide-assist-community-banks-develop-and-implement-third-party
Press Release: www.occ.gov/news-issuances/news-releases/2024/nr-ia-2024-46.html

May 3, 2024 - Federal Reserve Board requests comment on proposal to expand the operating days of the Federal Reserve Banks� two large-value payments services, Fedwire Funds Service and the National Settlement Service, to include weekends and holidays.  www.federalreserve.gov/newsevents/pressreleases/bcreg20240503a.htm

May 2, 2024 - Evaluations for 13 National Banks and Federal Savings Associations - Of the 13 evaluations made public this month, one is rated needs to improve, 11 are rated satisfactory, and one is rated outstanding. www.occ.gov/news-issuances/news-releases/2024/nr-occ-2024-45.html

May 2, 2024 - FDIC Announces Personnel Changes - The Federal Deposit Insurance Corporation has appointed John F. Vogel Regional Director, New York Region effective January 14, 2024, and Jessica A. Kaemingk Regional Director, Kansas City Region effective May 5, 2024. www.fdic.gov/news/press-releases/fdic-announces-personnel-changes
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May 2, 2024 - OCC Releases CRA Evaluations for 13 National Banks and Federal Savings Associations - Of the 13 evaluations made public this month, one is rated needs to improve, 11 are rated satisfactory, and one is rated outstanding. www.occ.gov/news-issuances/news-releases/2024/nr-occ-2024-45.html

May 2, 2024 - The Federal Financial Institutions Examination Council�s State Liaison Committee today announced the re-election of Charles G. Cooper as SLC Chairman. - The SLC Chairman�s one-year term runs from May 1 until April 30 of the following year. www.ffiec.gov/press/pr050224_2.htm

May 2, 2024 - The Federal Financial Institutions Examination Council today announced the selection of Greg Gonzales to the FFIEC�s State Liaison Committee - Gonzales�s term runs from May 1, 2024, through April 30, 2026. www.ffiec.gov/press/pr050224_1.htm

May 1, 2024 - Registration Now Open for NCUA Diversity, Equity, and Inclusion Summit July 9�11 - The in-person event will take place July 9�11, 2024, at the Hilton Minneapolis in Minneapolis, Minn. https://ncua.gov/newsroom/press-release/2024/registration-now-open-ncua-diversity-equity-and-inclusion-summit-july-9-11 

May 1, 2024 - Acting Senior Deputy Comptroller and Chief Counsel Testifies on Bank Mergers - Acting Senior Deputy Comptroller and Chief Counsel Ted Dowd today testified on the Office of the Comptroller of the Currency�s review and consideration of bank merger applications before the Subcommittee on Financial Institutions and Monetary Policy, Committee on Financial Services of the U.S. House of Representatives. www.occ.gov/news-issuances/news-releases/2024/nr-occ-2024-44.html

May 1, 2024 - FOMC Press Conference. www.federalreserve.gov/newsevents.htm

May 1, 2024 - Federal Reserve issues FOMC statement - Recent indicators suggest that economic activity has continued to expand at a solid pace. www.federalreserve.gov/newsevents/pressreleases/monetary20240501a.htm