R. Kinney Williams - Yennik, Inc.®
R. Kinney Williams
Yennik, Inc.

The Community Banker
Brought to you by Yennik, Inc. the acknowledged leader in Internet auditing for financial institutions.

 

The E-mail Banking News
(Bank Regulatory News)

December 201
7

Yennik, Inc. has clients in 43 states that rely on our cybersecurity audits to ensure proper Internet security settings and to meet the independent diagnostic test requirements of FDIC, OCC, FRB, and NCUA, which provides compliance with Gramm-Leach Bliley Act 501(b) s well as the penetration study complies with the FFIEC Cybersecurity Assessment Tool regarding resilience testing The cybersecurity penetration audit and Internet security testing is an affordable-sophisticated process than goes far beyond the simple scanning of ports.  The audit focuses on a hacker's perspective, which will help you identify real-world cybersecurity weaknesses.  For more information, give R. Kinney Williams a call today at 806-798-7119 or visit http://www.internetbankingaudits.com/.

FFIEC information technology audits - As a former bank examiner with over 40 years IT audit experience, I will bring an examiner's perspective to the FFIEC information technology audit for banks in Texas, New Mexico, Colorado, and Oklahoma.  For more information go to On-site FFIEC IT .

December 14, 2017 - OCC Enforcement Actions and Terminations for December 2017 - The Office of the Comptroller of the Currency (OCC) today released new enforcement actions taken against national banks, federal savings associations, and individuals currently and formerly affiliated with national banks and federal savings associations. https://www.occ.treas.gov/news-issuances/news-releases/2017/nr-occ-2017-148.html

December 14, 2017 - Joint Release/Single Resolution Board and Federal Deposit Insurance Corporation sign Cooperation Arrangement - Single Resolution Board and Federal Deposit Insurance Corporation sign Cooperation Arrangement - The Cooperation Arrangement between the Single Resolution Board and the Federal Deposit Insurance Corporation further strengthens the close cooperation between the two organizations in compliance with the legal frameworks in the United States and the European Union. www.fdic.gov/news/news/press/2017/pr17095.html

December 14, 2017 - NCUA Board Approves Central Office Reorganization, Emergency Mergers Rules - The National Credit Union Administration Board held its tenth open meeting of 2017 at the agency’s headquarters here today and unanimously approved two items: www.ncua.gov/newsroom/Pages/news-2017-dec-ncua-board-approves-central-office-reorganization-emergency-mergers-rules.aspx

December 13, 2017 - 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. www.federalreserve.gov/newsevents/speech/brainard20171213a.htm

December 13, 2017 - NCUA Releases Q3 2017 Credit Union System Performance Data - NCUA Releases Q3 2017 Credit Union System Performance Data.   www.ncua.gov/newsroom/Pages/news-2017-dec-ncua-releases-q3-2017-credit-union-system-performance-data.aspx

December 13, 2017 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at on December 12, 2017 and continued at 9:00 a.m. on December 13, 2017. Matter(s) considered: Discussion of Monetary Policy Issues. www.federalreserve.gov/aboutthefed/boardmeetings/20171212closed.htm

December 13, 2017 - Federal Reserve Board and Federal Open Market Committee release economic projections from the December 12-13 FOMC meeting - The attached table and charts released on Wednesday summarize the economic projections and the target federal funds rate projections made by Federal Open Market Committee participants for the December 12-13 meeting. www.federalreserve.gov/newsevents/pressreleases/monetary20171213b.htm

December 13, 2017 - Federal Reserve issues FOMC statement - Information received since the Federal Open Market Committee met in November indicates that the labor market has continued to strengthen and that economic activity has been rising at a solid rate. www.federalreserve.gov/newsevents/pressreleases/monetary20171213a.htm

December 11, 2017 - Federal Reserve Board requests comment on proposed changes to the Payment System Risk Policy - The Federal Reserve Board on Monday requested public comment on proposed policy changes to procedures governing the provision of intraday credit to U.S. branches and agencies of foreign banking organizations. www.federalreserve.gov/newsevents/pressreleases/other20171211a.htm

December 11, 2017 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at on December 11, 2017. Matter(s) considered: Supervisory Matter. www.federalreserve.gov/recentpostings.htm

December 11, 2017 - NCUA - Executive Order Establishes New Agency Seal - New Design Reflects NCUA’s Critical Role in Promoting Financial Stability - President Donald J. Trump has signed an Executive Order establishing the new official seal for the National Credit Union Administration, the agency announced today. www.ncua.gov/newsroom/Pages/news-2017-dec-executive-order-establishes-new-agency-seal.aspx

December 8, 2017 - Central Counterparty Risk Management: Beyond Default Risk By Rebecca Lewis - On October 17, 2017, the Federal Reserve Bank of Chicago held its fourth annual Central Counterparty Risk Management Conference: Beyond Default Risk. www.chicagofed.org/publications/chicago-fed-letter/2017/389

December 8, 2017 - Metsger Discusses Taxi Medallion Credit Unions and Risk-Based Capital Rule - NCUA Board Member Speaks to Oregon Cred????it Union CEOs - National Credit Union Administration Board Member Rick Metsger today reminded credit unions the National Credit Union Share Insurance Fund may be required to increase loss reserves as the values of taxi medallions decline. www.ncua.gov/newsroom/Pages/news-2017-dec-metsger-discusses-taxi-medallion-credit-unions.aspx

December 8, 2017 - Advanced Notice of a Meeting under Expedited Procedures- A closed meeting of the Board of Governors of the Federal Reserve System will be held under expedited procedures at 1:00 p.m. on December 12, 2017. Matter(s) considered: Discussion of Monetary Policy Issues. www.federalreserve.gov/aboutthefed/boardmeetings/20171212closed.htm

December 8, 2017 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

December 8, 2017 - Federal Reserve Board announces final plans for the production of three new reference rates based on overnight repurchase agreement transactions secured by Treasury securities.  www.federalreserve.gov/newsevents/pressreleases/bcreg20171208a.htm 

December 8, 2017 - Federal Reserve System announces new payments security strategy leader - The Federal Reserve System today announced the appointment of its payments security strategy leader, Kenneth Montgomery, the first vice president and chief operating officer of the Federal Reserve Bank of Boston. www.federalreserve.gov/newsevents/pressreleases/other20171208b.htm

December 7, 2017 - Openings for Experienced Economists - The Economic Research Department of the Federal Reserve Bank of Chicago is looking to hire Ph.D. economists with expertise in financial economics, microeconomics or macroeconomics. www.chicagofed.org/people/jobs/experienced-economists

December 7, 2017 - OCC Allows National Banks and Federal Savings Associations Affected by Wildfires in California to Close - The Office of the Comptroller of the Currency today issued a proclamation allowing national banks and federal savings associations affected by wildfires in California to close. www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-146.html

December 7, 2017 - U.S. banking agencies support conclusion of reforms to international capital standards - The federal banking agencies on Thursday announced their support for the conclusion of efforts to reform the international bank capital standards initiated in response to the global financial crisis.
Press Release - www.federalreserve.gov/newsevents/pressreleases/bcreg20171207b.htm
Press Release - www.fdic.gov/news/news/press/2017/pr17094.html
Press Release - www.occ.gov/news-issuances/news-releases/2017/nr-ia-2017-147.html

December 7, 2017 - Statistical Release - Consumer Credit - G.19 - In October, consumer credit increased at a seasonally adjusted annual rate of 6-1/2 percent. Revolving credit increased at an annual rate of 10 percent, while nonrevolving credit increased at an annual rate of 5-1/4 percent. www.federalreserve.gov/releases/g19/current/default.htm

December 7, 2017 - U.S. banking agencies support conclusion of reforms to international capital standards - The federal banking agencies on Thursday announced their support for the conclusion of efforts to reform the international bank capital standards initiated in response to the global financial crisis. www.federalreserve.gov/newsevents/pressreleases/bcreg20171207b.htm

December 7, 2017 - Federal Reserve Board requests comment on package of proposals that would increase the transparency of its stress testing program - The Federal Reserve Board on Thursday requested comment on a package of proposals that would increase the transparency of its stress testing program while maintaining the Federal Reserve's ability to test the resilience of the nation's largest and most complex banks. www.federalreserve.gov/newsevents/pressreleases/bcreg20171207a.htm
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December 7, 2017 - Central Counterparty Risk Management: Beyond Default Risk By Rebecca Lewis - On October 17, 2017, the Federal Reserve Bank of Chicago held its fourth annual Central Counterparty Risk Management Conference: Beyond Default Risk.  www.chicagofed.org/publications/chicago-fed-letter/2017/389

December 7, 2017 - Advanced Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System will be held under expedited procedures at 10:00 a.m. on December 11, 2017. Matter(s) considered: Supervisory Matter. www.federalreserve.gov/aboutthefed/boardmeetings/20171211closed.htm

December 7, 2017 - Statistical Release - Financial Accounts of the United States - Z.1 - The Financial Accounts of the United States includes data on the flow of funds and levels of financial assets and liabilities, by sector and financial instrument; full balance sheets, including net worth, for households and nonprofit organizations, nonfinancial corporate businesses, and nonfinancial noncorporate businesses; Integrated Macroeconomic Accounts; and additional supplemental detail. www.federalreserve.gov/releases/z1/current/default.htm

December 6, 2017 - Federal Reserve Board announces approval of application by CenterState Bank Corporation - The Federal Reserve Board on Wednesday announced its approval of the application under section 3 of the Bank Holding Company Act of 1956 by CenterState Bank Corporation, Winter Haven, Florida, to merge with HCBF Holding Company, Inc., and thereby indirectly acquire HCBF's subsidiary bank, Harbor Community Bank, both of Fort Pierce, Florida. www.federalreserve.gov/newsevents/pressreleases/orders20171206a.htm

December 5, 2017 - Comptroller of the Currency Lauds Progress Toward Meaningful Regulatory Reform - Comptroller of the Currency Joseph M. Otting issued the following statement on Senate Bill 2155, the “Economic Growth, Regulatory Relief and Consumer Protection Act.” www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-145.html

December 5, 2017 - OCC Releases CRA Evaluations for 29 National Banks and Federal Savings Associations - The Office of the Comptroller of the Currency today released a list of Community Reinvestment Act performance evaluations that became public during the period of November 1, 2017 through November 30, 2017. www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-144.html

December 5, 2017 - FDIC Issues List of Banks Examined for CRA Compliance - The Federal Deposit Insurance Corporation today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act. The list covers evaluation ratings that the FDIC assigned to institutions in September 2017.   www.fdic.gov/news/news/press/2017/pr17093.html

December 5, 2017 - Federal Reserve Board announces termination of enforcement action with Citizens Commerce Bancshares, Inc. www.federalreserve.gov/newsevents/pressreleases/enforcement20171205a.htm

December 4, 2017 - Economy to Grow at Pace Slightly Above Average in 2018, Say Chicago Fed Economic Outlook Symposium Participants - The 31st annual Economic Outlook Symposium, held in Chicago on December 1, drew participants from the manufacturing, banking, and auto industries, as well as academia and consulting and service firms. www.chicagofed.org/~/media/others/events/2017/economic-outlook-symposium/eos-press-release-pdf.pdf

December 4, 2017 - NCUA - Riverdale Credit Union Closes, Jefferson Financial Assumes Members, Shares, and Loans - The National Credit Union Administration today liquidated Riverdale Credit Union of Selma, Alabama. Jefferson Financial Federal Credit Union of Metairie, Louisiana, immediately assumed Riverdale Credit Union’s membership, shares, loans, and most other assets. www.ncua.gov/newsroom/Pages/news-2017-dec-riverdale-credit-union-closes-jefferson-financial-assumes-members-shares-loans.aspx

December 4, 2017 - FDIC Consumer News Offers Tips on Dealing with Debt - Whether you have a little bit of debt or a lot, managing it wisely and ultimately paying off what you owe can be crucial to your financial well-being. www.fdic.gov/news/news/press/2017/pr17092.html

December 4, 2017 - A closed meeting of the Board of Governors of the Federal Reserve System was held at 11:30 a.m. on December 4, 2017. Matter(s) considered: Review and determination by the Board of Governors of the advance and discount rates to be charged by the Federal Reserve Banks. www.federalreserve.gov/aboutthefed/boardmeetings/20171204closed.htm

December 4, 2017 - Federal Reserve Board requests public comment on proposal to amend Regulation A - The Federal Reserve Board on Monday requested public comment on a proposal to amend its Regulation A, which governs extensions of credit by Federal Reserve Banks, to make certain technical adjustments including to reflect the expiration of the Term Asset Backed Securities Loan Facility program. www.federalreserve.gov/newsevents/pressreleases/bcreg20171204a.htm
 
December 4, 2017 - Thomas Barkin named president and chief executive officer of the Federal Reserve Bank of Richmond - Board Chair Lewis Announces Appointment of Thomas I. Barkin as Next President.  www.richmondfed.org/press_room/press_releases/2017/president_barkin_20171204

December 1, 2017 - Office of the Comptroller of the Currency Fees and Assessments: Calendar Year 2018 Fees and Assessments Structure - This bulletin informs all national banks, federal savings associations, and federal branches and agencies of foreign banks of fees and assessments charged by the Office of the Comptroller of the Currency for calendar year 2018. www.occ.treas.gov/news-issuances/bulletins/2017/bulletin-2016-60.html

December 1, 2017 - December 1, 2017 - Federal Reserve Bank of St. Louis’ Louisville Branch Commemorates 100 Years of Service - In 1916 a group of Louisville bankers, trekked to Washington to make their case in front of the Federal Reserve Board of Governors four days before Christmas to petition to be a branch of the Federal Reserve Bank of St. Louis. www.stlouisfed.org/news-releases/2017/12/01/federal-reserve-bank-of-st-louis-louisville-branch-commemorates-100-years-of-service 

December 1, 2017 - St. Louis Fed's Bullard Addresses the Risk of Yield Curve Inversion - Federal Reserve Bank of St. Louis President James Bullard gave remarks on “Assessing the Risk of Yield Curve Inversion” at a regional economic briefing in Little Rock on Friday. www.stlouisfed.org/news-releases/2017/12/01/bullard-addresses-risk

December 1, 2017 - Housing Bust, Bank Lending & Employment: Evidence from Multimarket Banks - David P. Glancy - I use geographic variation in bank lending to study how bank real estate losses impacted the supply of credit and employment during the Great Recession. www.federalreserve.gov/econres/feds/files/2017118pap.pdf

December 1, 2017 - Liquidity from Two Lending Facilities - Sriya L. Anbil and Angela Vossmeyer - During financial crises, the lender of last resort uses lending facilities to inject critical funding into the banking sector. www.federalreserve.gov/econres/feds/files/2017117pap.pdf

December 1, 2017 - Legal Interpretations - Bank Holding Company Act, August 3, July 28, and June 21, 2017.  www.federalreserve.gov/supervisionreg/legalinterpretations/bhc_changeincontrol2017.htm

December 1, 2017 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

December 1, 2017 - Statistical Release - Foreign Exchange Rates - G.5.  www.federalreserve.gov/releases/g5/current/default.htm

December 1, 2017 - Federal Reserve Board announces it has voted to affirm Countercyclical Capital Buffer at current level of 0 percent - In making this determination, the Board followed the framework detailed in the Board's policy statement for setting the CCyB for private-sector credit exposures located in the United States. www.federalreserve.gov/newsevents/pressreleases/bcreg20171201a.htm

December 1, 2017 - Federal Reserve announces College Fed Challenge winners - Pace University won the 14th annual national College Fed Challenge on Friday, a competition that encourages students to learn about the U.S. economy, monetary policymaking, and the role of the Federal Reserve System. www.federalreserve.gov/newsevents/pressreleases/other20171201a.htm

November 30, 2017 - NCUA Names Mary Anne Bradfield as Director of Public and Congressional Affairs - Mary Anne Bradfield will become the National Credit Union Administration’s Director of Public and Congressional Affairs, effective Monday, Dec. 18, the agency announced today. www.ncua.gov/newsroom/Pages/news-2017-nov-ncua-names-mary-anne-bradfield-director-public-congressional-affairs.aspx

November 30, 2017 - Capital and Dividends: Revised Comptroller's Licensing Manual Booklet - The Office of the Comptroller of the Currency issued today the “Capital and Dividends” booklet of the Comptroller’s Licensing Manual. www.occ.treas.gov/news-issuances/bulletins/2017/bulletin-2017-59.html

November 30, 2017 - St. Louis Fed Releases Beige Book - The Federal Reserve Bank of St. Louis released its portion of the Federal Reserve’s latest Beige Book, published today. The local report summarizes economic conditions for the Eighth District, which is based in St. Louis and covers all of Arkansas and parts of Illinois, Indiana, Kentucky, Mississippi, Missouri and Tennessee. www.stlouisfed.org/news-releases/2017/11/30/st-louis-fed-releases-beige-book

November 30, 2017 - Customer Liquidity Provision: Implications for Corporate Bond Transaction Costs - Jaewon Choi and Yesol Huh - The convention in calculating trading costs in corporate bond markets is to assume that dealers provide liquidity to non-dealers and calculate average bid-ask spreads that customers pay dealers. www.federalreserve.gov/econres/feds/files/2017116pap.pdf

November 30, 2017 - Federal Reserve Board announces termination of enforcement action with Brand Group Holdings, Inc. and The Brand Banking Company.   www.federalreserve.gov/newsevents/pressreleases/enforcement20171130a.htm

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