We will recover - Please stay safe

Kinney:

Virtual/remote IT audits - I am performing virtual/remote FFIEC IT audits for banks and credit unions.  I am a former bank examiner with 40 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.

FYI - Fed Restores Some Services After Outage on Operational Error - The Federal Reserve began restoring some services Wednesday afternoon following widespread outages across several key payment systems operated by the U.S. central bank. https://www.msn.com/en-us/money/markets/fed-restores-some-services-following-payment-system-outages/ar-BB1dZ0o3?ocid=msedgntp

February 26, 2021 - FDIC Makes Public January Enforcement Actions - The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in January. There are no administrative hearings scheduled for March 2021. https://www.fdic.gov/news/press-releases/2021/pr21014.html

February 25, 2021 - An Uncertain (Though Optimistic) Outlook for an Uneven Economy By Esther L. George President and Chief Executive Officer Federal Reserve Bank of Kansas City.  www.kansascityfed.org/~/media/files/publicat/speeches/2021/2021-george-topproducer-02-24.pdf

February 25, 2021 - St. Louis Fed's Bullard Discusses the Waning Pandemic and the U.S. Economy - Federal Reserve Bank of St. Louis President James Bullard presented The Waning Pandemic and the U.S. Economy via webinar for Georgia State Universitys Economic Forecasting Center on Thursday. www.stlouisfed.org/news-releases/2021/02/25/bullard-discusses-waning-pandemic-and-economy

February 25, 2021 - Structure and Share Data for U.S. Banking Offices of Foreign Entities - There are two reports showing the same structure and asset information for each U.S. office, but in different orders. Offices located in Puerto Rico, American Samoa, Guam, the Virgin Islands and other U.S.-affiliated insular areas are excluded. www.federalreserve.gov/releases/iba/

February 25, 2021 - Quantifying the COVID-19 effects on core PCE price inflation - Matteo Luciani - The 12-month change in core PCE price inflation was 1.5 percent in December. www.federalreserve.gov/econres/notes/feds-notes/quantifying-the-covid-19-effects-on-core-pce-price-inflation-20210225.htm

February 25, 2021 - Speech by Vice Chair for Supervision Quarles on the role of stress testing At the Federal Reserve Bank of Atlanta, Atlanta, Georgia (via webcast).   www.federalreserve.gov/newsevents/speech/quarles20210225a.htm

February 25, 2021 - Agencies issue Shared National Credit Review - Credit risk for large, syndicated loans has increased over the last year, according to the 2020 Shared National Credit Review released by federal bank regulatory agencies today.
Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20210225a.htm
Press Release: www.fdic.gov/news/press-releases/2021/pr21013.html
Press Release: www.occ.gov/news-issuances/news-releases/2021/nr-ia-2021-26.html

February 24, 2021 - Net Stable Funding Ratio: Final Rule - The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation today published a final rule in the Federal Register that implements the net stable funding ratio. www.occ.treas.gov/news-issuances/bulletins/2021/bulletin-2021-9.html

February 24, 2021 - OCC Issues Second and Third Quarter 2021 CRA Evaluation Schedule - The Office of the Comptroller of the Currency today released its schedule of Community Reinvestment Act evaluations to be conducted in the second quarter and third quarter 2021. www.occ.gov/news-issuances/news-releases/2021/nr-occ-2021-25.html

February 24, 2021 - The Information Content of Stress Test Announcements - Luca Guerrieri and Michele Modugno - We exploit institutional features of the U.S. banking stress tests to disentangle different types of information garnered by market participants when the stress test results are released. www.federalreserve.gov/econres/feds/information-content-of-stress-test-announcements.htm

February 24, 2021 - Remarks by Governor Brainard on "How should we think about full employment in the Federal Reserve's dual mandate?" At the Ec10, Principles of Economics, Lecture, Faculty of Arts and Sciences, Harvard University, Cambridge, Massachusetts (via webcast).  www.federalreserve.gov/newsevents/speech/brainard20210224a.htm

February 24, 2021 - Speech by Vice Chair Clarida on U.S. economic outlook and monetary policy At the U.S. Chamber of Commerce, Washington, D.C. (via webcast).   www.federalreserve.gov/newsevents/speech/clarida20210224a.htm

February 23, 2021 - Proposed Revisions to the Consolidated Reports of Condition and Income Related to Brokered Deposits and Sweep Deposits - These revisions would reflect the intent stated in the Net Stable Funding Ratio Final Rule and in the Final Rule on Brokered Deposits and Interest Rate Restrictions. www.fdic.gov/news/financial-institution-letters/2021/fil21011.html

February 23, 2021 - Technical Assistance Videos on Fair Lending - The FDIC has released nine technical assistance videos on fair lending. www.fdic.gov/news/financial-institution-letters/2021/fil21010.html

February 23, 2021 - FDIC-Insured Institutions Reported Net Income of $59.9 Billion In Fourth Quarter 2020 - FDIC-Insured Institutions Reported Net Income of $59.9 Billion In Fourth Quarter 2020.  www.fdic.gov/news/press-releases/2021/pr21012.html

February 23, 2021 - Testimony by Chair Jerome H. Powell Semiannual Monetary Policy Report to the Congress Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate.   www.federalreserve.gov/newsevents/testimony/powell20210223a.htm

February 23, 2021 - Minutes of the Board's discount rate meetings on January 19 and January 27, 2021. www.federalreserve.gov/newsevents/pressreleases/monetary20210223a.htm

February 22, 2021 - Federal and State Financial Regulatory Agencies Issue Interagency Statement on Supervisory Practices Regarding Financial Institutions Affected by Texas Winter Storms.   www.occ.gov/news-issuances/news-releases/2021/nr-ia-2021-24.html

February 22, 2021 - Chicago Fed National Activity Index Suggests Economic Growth Increased in January - Led by improvements in personal consumption-related indicators, the Chicago Fed National Activity Index increased to +0.66 in January from +0.41 in December. www.chicagofed.org/~/media/publications/cfnai/2021/cfnai-february2021-pdf.pdf

February 22, 2021 - Legal Developments - Section 19 letters, November 10, 19, and December 4, 2020.  www.federalreserve.gov/supervisionreg/ordersother2020.htm

February 22, 2021 - Speech by Governor Bowman on economic inclusion in lower-income communities At the "Advance Together" Celebration sponsored by the Federal Reserve Bank of Dallas (via webcast).  www.federalreserve.gov/newsevents/speech/bowman20210222a.htm

February 19, 2021 - Revisions to the Consolidated Reports of Condition and Income Related to Asset Threshold Relief - On February 18, 2021, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, and the Office of the Comptroller of the Currency, under the auspices of the Federal Financial Institutions Examination Council, published the attached final regulatory reporting changes in the Federal Register. https://www.fdic.gov/news/financial-institution-letters/2021/fil21008.html

February 19, 2021 - Statistical Release - Charge-Off and Delinquency Rates on Loans and Leases at Commercial Banks.  www.federalreserve.gov/releases/chargeoff/

February 19, 2021 - Statistical Release - Large Commercial Banks - The Federal Reserve Board compiles quarterly data on domestically chartered insured commercial banks that have consolidated assets of $300 million or more and releases the data about twelve weeks after the end of each quarter. www.federalreserve.gov/releases/lbr/

February 19, 2021 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

February 19, 2021 - Reports to the Congress - Monetary Policy Report, February 2021.  www.federalreserve.gov/monetarypolicy/mpr_default.htm 

February 18, 2021 - Board Approves Joint-Ownership Share Accounts Final Rule - The National Credit Union Administration Board held its second open meeting of 2021 through a live audio webcast and approved a final rule on joint-ownership share accounts. www.ncua.gov/newsroom/press-release/2021/board-approves-joint-ownership-share-accounts-final-rule