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)

August 201

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/.

August 10, 2017 - U.S. and Southeast Oklahoma Economic Outlook By Chad Wilkerson Hugo Economic Forum.  www.kansascityfed.org/~/media/files/publicat/speeches/2017/2017-wilkerson-hugo-forum-08-17.pdf

August 10, 2017 - FEDS Notes - Synthetic ETFs - Sirio Aramonte, Cecilia Caglio, and Tugkan Tuzun - Exchange traded funds achieve their investment objectives by either owning a portfolio of securities or entering into swap agreements that deliver the returns of pre-specified indexes. www.federalreserve.gov/econres/notes/feds-notes/synthetic-etfs-20170810.htm

August 9, 2017 - The Effect of Bank Supervision on Risk Taking: Evidence from a Natural Experiment - John Kandrac and Bernd Schlusche - Abstract: In this paper, we exploit a natural experiment in which thrifts in several states witnessed an exogenous reduction in supervisory attention to assess the effect of supervision on financial institutions' willingness to take risk. www.federalreserve.gov/econres/feds/files/2017079pap.pdf

August 9, 2017 - Federal Reserve Board issues guidelines to evaluate requests for joint accounts at Federal Reserve Banks - The Federal Reserve Board on Wednesday released final guidelines that will be used to evaluate requests for joint accounts at Federal Reserve Banks effective upon publication in the Federal Register. www.federalreserve.gov/newsevents/pressreleases/other20170809a.htm

August 8, 2017 - Matching Banks by Business Model, Geography and Size: A Dataset - Mark Carlson, Molly Shatto, and Missaka Warusawitharana - In this note, we describe an algorithm, developed in Carlson, Shan, and Warusawitharana (2013), to match banks that are geographically close and are similar in size and business model. www.federalreserve.gov/econres/notes/feds-notes/matching-banks-by-business-model-geography-and-size-a-dataset-20170808.htm

August 8, 2017 - Statistical Release - Annual data on manufacturing investment and capital - The Federal Reserve provides the data from the G.17 release in multiple ways.   www.federalreserve.gov/releases/g17/download.htm 

August 8, 2017 - Firm Leverage, Labor Market Size, and Employee Pay - Timothy E. Dore and Rebecca Zarutskie - We provide new estimates of the wage costs of firms' debt. Our empirical approach exploits within-firm geographical variation in workers' expected unemployment costs due to variation in local labor market size and uses a large representative sample of public firms. www.federalreserve.gov/econres/feds/files/2017078pap.pdf

August 8, 2017 - Agencies extend resolution plan filing deadline for certain foreign and domestic banks - Board of Governors of the Federal Reserve System - Federal Deposit Insurance Corporation - The Federal Reserve Board and the Federal Deposit Insurance Corporation (FDIC) today extended the resolution plan filing deadline for 19 foreign banking organizations and two large domestic bank holding companies to December 31, 2018, to give the firms an additional year to address any supervisory guidance in their next plan submissions.
Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20170808a.htm
Press Release: www.fdic.gov/news/news/press/2017/pr17060.html

August 7, 2017 - Emerging Trends in the U.S. and Colorado Economies Alison Felix Economist and Branch Executive Federal Reserve Bank of Kansas City Denver Branch.   www.kansascityfed.org/~/media/files/publicat/speeches/2017/2017-felix-ecosprrotary-08-07.pdf

August 7, 2017 - St. Louis Fed's Bullard: A Low Inflation Surprise for U.S. Monetary Policy - Federal Reserve Bank of St. Louis President James Bullard gave remarks on “A Low Inflation Surprise for U.S. Monetary Policy” at the 2017 conference of America’s Cotton Marketing Cooperatives on Monday. www.stlouisfed.org/news-releases/2017/08/07/bullard-low-inflation-surprise
August 7, 2017 - Statistical Release - Consumer Credit - G.19 - Consumer credit increased at a seasonally adjusted annual rate of 4-1/2 percent during the second quarter. Both revolving and nonrevolving credit increased at similar annual rates.  www.federalreserve.gov/releases/g19/current/default.htm

August 4, 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. www.fdic.gov/news/news/press/2017/pr17059.html

August 4, 2017 - FOIA - Chair Yellen's calendar, June 2017.  www.federalreserve.gov/foia/chairscalendar-062017.htm

August 4, 2017 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update.  www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

August 3, 2017 - Failure Acquisitions: Revised Comptroller’s Licensing Manual Booklet - Revised Comptroller’s Licensing Manual Booklet - The Office of the Comptroller of the Currency issued today the “Failure Acquisitions” booklet of the Comptroller’s Licensing Manual. www.occ.treas.gov/news-issuances/bulletins/2017/bulletin-2017-26.html

August 3, 2017 - St. Louis Fed Releases Report on the Power of Food System Investments to Boost Regional Economies - The Federal Reserve Bank of St. Louis, in partnership with the Federal Reserve Board of Governors and the U.S. Department of Agriculture’s offices of Rural Development and the Agricultural Marketing Service, have released Harvesting Opportunity.  www.stlouisfed.org/news-releases/2017/08/03/st-louis-fed-releases-report-on-community-food-system-investments

August 3, 2017 - Updating the Labor Market Conditions Index - Hess Chung, Christopher Nekarda, David Ratner - As of August 3, 2017, updates of the labor market conditions index have been discontinued; the July 7, 2017 vintage is the final estimate from this model. www.federalreserve.gov/econresdata/notes/feds-notes/2014/updating-the-labor-market-conditions-index-20141001.html

August 3, 2017 - Exporting and Frictions in Input Markets: Evidence from Chinese Data - Maria D. Tito and Ruoying Wang - This paper investigates the impact of international trade on input market distortions. www.federalreserve.gov/econres/feds/files/2017077pap.pdf

August 3, 2017 - Misallocation Costs of Digging Deeper into the Central Bank Toolkit - Robert Kurtzman and David Zeke - Central bank large-scale asset purchases, particularly the purchase of corporate bonds of nonfinancial firms, can induce a misallocation of resources through their heterogeneous effect on firms cost of capital. www.federalreserve.gov/econres/feds/files/2017076pap.pdf

August 3, 2017 - The FOMC meeting minutes: An update of counting words - Melanie Josselyn and Ellen E. Meade - An earlier Feds note provided information about the structure of the FOMC meeting minutes and the use of "quantitative" or "counting" words to characterize the number of policymakers aligned with particular views. www.federalreserve.gov/econres/notes/feds-notes/the-fomc-meeting-minutes-an-update-of-counting-words-20170803.htm

August 3, 2017 - Federal Reserve to offer seven-day term deposits on August 10 - The Federal Reserve plans to continue its previously announced periodic testing of the Term Deposit Facility with one operation in August. www.federalreserve.gov/newsevents/pressreleases/monetary20170803a.htm

August 3, 2017 - NCUA’s Final CDFI Qualification Round Runs Aug. 7 to Sept. 1 - Streamlined Application Process Can Help Eligible Credit Unions - The National Credit Union Administration is hosting its third and final round for credit unions to qualify to use the streamlined application for certification as community development financial institutions. www.ncua.gov/newsroom/Pages/news-2017-aug-cdfi-certification-round.aspx

August 2, 2017 - OCC Solicits Public Comments on Revising the Volcker Rule - The Office of the Comptroller of the Currency is seeking public input on revising the final regulation implementing section 619 of the Dodd–Frank Wall Street Reform and Consumer Protection Act of 2010. www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-89.html

August 2, 2017 - Overview of the Federal Reserve's Supervisory Education Programs - This letter applies to examiners and supervisory staff at all twelve Federal Reserve Banks, regardless of the supervision program - The Board's Divisions of Supervision and Regulation and Consumer and Community Affairs are issuing this letter to outline the Federal Reserve's supervisory education programs. www.federalreserve.gov/supervisionreg/srletters/sr1706.htm

August 2, 2017 - Shared National Credit review finds risk remains high, but underwriting and risk management continue to improve - Risk in the portfolio of large syndicated bank loans declined slightly but remains elevated, according to the Shared National Credit Program Review released today by the Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency.
Press Release: www.fdic.gov/news/news/press/2017/pr17058.html
Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20170802a.htm
Press Release: www.occ.gov/news-issuances/news-releases/2017/nr-ia-2017-90.html

August 1, 2017 - How Much Risk Do Variable Annuity Guarantees Pose to Life Insurers? By Alejandro H. Drexler , Thanases Plestis , Richard J. Rosen - Over the past two decades, guarantees that protect variable annuities’ balances when their underlying investments perform poorly have become quite popular. www.chicagofed.org/publications/chicago-fed-letter/2017/384

August 1, 2017 - OCC Releases CRA Evaluations for 26 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 July 1, 2017 through July 31, 2017.  www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-88.html

August 1, 2017 - OCC Hosts Compliance and Operational Risk Workshops in Baltimore - The Office of the Comptroller of the Currency will host two workshops in Baltimore at the Sheraton Baltimore North Hotel, September 12-13, for directors of national community banks and federal savings associations supervised by the OCC. www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-87.html

August 1, 2017 - Statistical Release - Seasonal factors for motor vehicle sales - The Federal Reserve Board has re-estimated seasonal factors for new motor vehicle sales, using data through April 2017. These factors are estimated once per year using X12-ARIMA. The factors will be revised again in summer 2018. www.federalreserve.gov/releases/g17/mv_sales_sf.htm

August 1, 2017 - Statistical Release - Foreign Exchange Rates - G.5 - The table below shows the average rates of exchange in JULY 2017 together with comparable figures for other months. www.federalreserve.gov/releases/g5/current/default.htm

August 1, 2017 - Federal Reserve Board issues enforcement actions with Mesquite Financial Services, Inc., Federal One Holdings, LLC, and Admirals Bancorp, Inc. and announces termination of enforcement action with First St. Charles Bancshares, Inc. www.federalreserve.gov/newsevents/pressreleases/enforcement20170801a.htm

FYI - Don't forget to follow me on LinkedIn at https://www.linkedin.com/in/yennik where I post a weekly question on IT and cybersecurity auditing.

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PLEASE NOTE:  Some of the above links may not function properly because the regulatory agency has changed the URL.  Please e-mail us at examiner@yennik.com if we can be of assistance.  

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