The E-mail Banking News
(Bank Regulatory News)

August 2019

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 test 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 Office/Cell 806-535-8300 or visit http://www.internetbankingaudits.com/.
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August 15, 2019 - OCC Enforcement Actions and Terminations - The Office of the Comptroller of the Currency 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. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-92.html

August 15, 2019 - Bank Accounting Advisory Series Updated - The Office of the Comptroller of the Currency today released an update to the Bank Accounting Advisory Series. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-91.html

August 15, 2019 - Statistical Release - Industrial Production and Capacity Utilization - G.17.  www.federalreserve.gov/releases/g17/default.htm

August 15, 2019 - Federal Reserve to offer seven-day term deposits on August 22 - 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/monetary20190815a.htm

August 14, 2019 - What is Driving the Return Spread Between Safe and Risky Assets? By Emmanuel Farhi , François Gourio - Real interest rates on U.S. government bonds have declined persistently since the 1980s.  www.chicagofed.org/publications/chicago-fed-letter/2019/416

August 14, 2019 - NCUA’s Hood: Federal-State Chartering and Supervision System Working Well - NCUA and NASCUS Chairmen Sign New Document of Cooperation - The National Credit Union Administration and state regulators are working well together to modernize the dual chartering and supervision system and reduce regulatory burdens for credit unions, NCUA Chairman Rodney E. Hood said today. www.ncua.gov/newsroom/press-release/2019/ncuas-hood-federal-state-chartering-and-supervision-system-working-well

August 14, 2019 - NCUA Chairman Rodney E. Hood Remarks before the NASCUS State System Summit.  www.ncua.gov/newsroom/speech/2019/ncua-chairman-rodney-e-hood-remarks-nascus-state-system-summit

August 14, 2019 - Comptroller of the Currency Visits Baltimore Affordable Housing Event - Comptroller of the Currency Joseph Otting and senior staff visited an event promoting affordable and sustainable homeownership in Baltimore on Monday. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-90.html

August 14, 2019 - Andy Cates Joins St. Louis Fed’s Real Estate Industry Council - Andy Cates has been named to the Real Estate Industry Council of the Federal Reserve Bank of St. Louis. Cates is the CEO of Colliers International-Memphis. www.stlouisfed.org/news-releases/2019/08/14/andy-cates-joins-st-louis-fed-real-estate-industry-council

August 14, 2019 - International Trade in Services: Stylized Facts about Exporters in the Service Sector - Maria D. Tito - Service trade accounts for about 30 percent of U.S. exports and has grown about 5 percent per year over the past decade. www.federalreserve.gov/econres/notes/feds-notes/international-trade-in-services-stylized-facts-about-exporters-in-the-service-sector-20190814.htm

August 13, 2019 - U.S. and Oklahoma Economic Update Guymon Economic Forum.  www.kansascityfed.org/~/media/files/publicat/speeches/2019/2019-wilkerson-guymon-08-19.pdf

August 13, 2019 - U.S. and Kansas Economic Outlook By Chad Wilkerson Vice President and Oklahoma City Branch Executive.   www.kansascityfed.org/~/media/files/publicat/speeches/2019/2019-wilkerson-dodgecity-08-19.pdf

August 13, 2019 - U.S. and Oklahoma Economic Outlook By Chad Wilkerson Vice President and Oklahoma City Branch Executive.   https://www.kansascityfed.org/~/media/files/publicat/speeches/2019/2019-wilkerson-okc-08-19.pdf

August 13, 2019 - Statistical Release - 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. www.federalreserve.gov/releases/iba/default.htm 

August 12, 2019 - Payment Systems - Automated Clearinghouse Services, quarterly data updates.  www.federalreserve.gov/paymentsystems/fedach_data.htm

August 12, 2019 - OCC to Host Innovation Office Hours in Washington, D.C. - The Office of the Comptroller of the Currency today announced it will hold Innovation Office Hours, October 8-10, in Washington, D.C., to promote responsible innovation in the federal banking system. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-89.html

August 9, 2019 - NCUA Chairman: Credit Unions Can Lead During “a Time of Seismic Change” - Hood Speaks to AACUC on Inclusion, Innovation, and Modern Regulation.   www.ncua.gov/newsroom/press-release/2019/ncua-chairman-credit-unions-can-lead-during-time-seismic-change

August 9, 2019 - NCUA Chairman Rodney E. Hood Remarks - African-American Credit Union Coalition 21st Annual Conference.  www.ncua.gov/newsroom/speech/2019/ncua-chairman-rodney-e-hood-remarks-african-american-credit-union-coalition-21st-annual-conference

August 9, 2019 - Prohibition Against Interstate Deposit: Annual Host State Loan-to-Deposit Ratios - The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation issued on May 28, 2019, the host state loan-to-deposit ratios. www.occ.treas.gov/news-issuances/bulletins/2019/bulletin-2019-41.html

August 9, 2019 - Comptroller of the Currency Tours Atlanta Areas Where the Community Reinvestment Act Has Benefitted the Community and Where More Can Be Done - Comptroller of the Currency Joseph Otting, today visited Atlanta to tour neighborhoods that have benefitted from activities encouraged by the Community Reinvestment Act and areas that could benefit from additional CRA activity. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-88.html

August 9, 2019 - Liquidity Transformation Risks in U.S. Bank Loan and High-Yield Mutual Funds - Kenechukwu Anadu and Fang Cai - Net assets in open-end mutual funds have increased notably over the past decades. www.federalreserve.gov/econres/notes/feds-notes/liquidity-transformation-risks-in-US-bank-loan-and-high-yield-mutual-funds-20190809.htm

August 9, 2019 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update.  www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

August 9, 2019 - Monetary Policy and Bank Equity Values in a Time of Low and Negative Interest Rates - Miguel Ampudia and Skander J. Van den Heuvel - Does banks' exposure to interest rate risk change when interest rates are very low or even negative?  www.federalreserve.gov/econres/feds/files/2019064pap.pdf

August 9, 2019 - Exporters of Services: A Look at U.S. Exporters outside of the Manufacturing Sector - Maria D. Tito - Using transaction data for the U.S., this paper presents a series of stylized facts on exporters in services industries. We find that most of the basic facts on manufacturing exporters extend to the services sectors with three important differences. www.federalreserve.gov/econres/feds/files/2019063pap.pdf

August 9, 2019 - Parental Proximity and Earnings After Job Displacements - Patrick Coate, Pawel Krolikowski, and Mike Zabek - The earnings of young adults who live in the same neighborhoods as their parents completely recover after a job displacement, unlike the earnings of young adults who live farther away, which permanently decline. www.federalreserve.gov/econres/feds/files/2019062pap.pdf

August 8, 2019 - NCUA Launches New Digital Tool to Help with the Chartering Process - The National Credit Union Administration is encouraging groups seeking to organize credit unions to take advantage of the agency’s new digital tool to help them with the charter application process. www.ncua.gov/newsroom/press-release/2019/ncua-launches-new-digital-tool-help-chartering-process

August 8, 2019 - OCC Releases CRA Evaluations for 42 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, 2019 through July 31, 2019. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-87.html
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August 8, 2019 - OCC Hosts Nashville Workshop for Board Directors and Bank Management - The Office of the Comptroller of the Currency will host a workshop in Nashville, Tenn., at the Spring Hill Suites Nashville Downtown, September 24-25, for directors, senior management team members, and other key executives of national community banks and federal savings associations supervised by the OCC. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-86.html

August 8, 2019 - Federal Reserve to Hold Forum for Minority Bankers - The 2019 Banking and the Economy: A Forum for Minorities in Banking will be held Sept. 26-27 at the Federal Reserve Bank of St. Louis.  www.stlouisfed.org/news-releases/2019/08/08/federal-reserve-to-hold-forum-for-minority-bankers

August 8, 2019 - CECL and the Credit Cycle - Bert Loudis and Ben Ranish - We find that that the Current Expected Credit Loss standard would slightly dampen fluctuations in bank lending over the economic cycle. In particular, if the CECL standard had always been in place, we estimate that lending would have grown more slowly leading up to the financial crisis and more rapidly afterwards. www.federalreserve.gov/econres/feds/files/2019061pap.pdf

August 7, 2019 - OCC Hosts Compliance and Operational Risk Workshops in Virginia - The Office of the Comptroller of the Currency will host two workshops in Williamsburg, Va., at the DoubleTree Hotel Williamsburg, September 24 and 25, for directors of national community banks and federal savings associations supervised by the OCC. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-85.html

August 7, 2019 - Statistical Release - Consumer Credit - G.19 - 5-1/4 percent, while nonrevolving credit increased at an annual rate of 4-3/4 percent. In June, consumer credit increased at an annual rate of 4-1/4 percent. www.federalreserve.gov/releases/g19/current/default.htm

August 6, 2019 - St. Louis Fed's Bullard Discusses a Sea Change in U.S. Monetary Policy - Federal Reserve Bank of St. Louis President James Bullard discussed �A Sea Change in U.S. Monetary Policy� on Tuesday at the National Economists Club�s Summer Signature Luncheon. www.stlouisfed.org/news-releases/2019/08/06/bullard-sea-change-monetary-policy

August 6, 2019 - FEDS Notes- U.S. Corporations' Repatriation of Offshore Profits: Evidence from 2018 - Michael Smolyansky, Gustavo Suarez, Alexandra Tabova - We investigate how companies with large holdings of cash abroad have used those funds following the Tax Cuts and Jobs Act, which eliminated prior tax disincentives on the repatriation of foreign earnings. www.federalreserve.gov/econres/notes/feds-notes/us-corporations-repatriation-of-offshore-profits-20190806.htm

August 6, 2019 - Exchange Rate Dynamics and Monetary Spillovers with Imperfect Financial Markets - Ozge Akinci and Albert Queralto - We use a two-country New Keynesian model with financial frictions and dollar debt in balance sheets to investigate the foreign effects of U.S. monetary policy.   www.federalreserve.gov/econres/ifdp/files/ifdp1254.pdf

August 6, 2019 - Supervision Manuals Commercial Bank Examination Manual, May 2019 update - The Commercial Bank Examination Manual presents examination objectives and procedures that Federal Reserve System examiners follow in evaluating the safety and soundness of state member banks. Intended as guidance for planning and conducting bank examinations. www.federalreserve.gov/publications/supervision_cbem.htm

August 5, 2019 - Federal Reserve to Hold Forum for Minority Bankers - The 2019 Banking and the Economy: A Forum for Minorities in Banking will be held Sept. 26-27 at the Federal Reserve Bank of St. Louis. The forum, in its fourth year, is designed to provide senior-level or high-potential middle management minority bank leaders with industry, leadership and professional development knowledge to enhance their careers and networks. www.stlouisfed.org/news-releases/2019/08/05/federal-reserve-to-hold-forum-for-minority-bankers

August 5, 2019 - 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/2019/pr19071.html

August 5, 2019 - FEDS Notes - The Mysterious Cross-Country Dispersion in Mobile Phone Price Trends - The construction of prices for information and communications technology is a longstanding priority of the economic measurement community. www.federalreserve.gov/econres/notes/feds-notes/mysterious-cross-country-dispersion-in-mobile-phone-price-trends-20190805.htm

August 5, 2019 - Surveys and Reports - Senior Loan Officer Opinion Survey on Bank Lending Practices, July 2019 - The July 2019 Senior Loan Officer Opinion Survey on Bank Lending Practices addressed changes in the standards and terms on, and demand for, bank loans to businesses and households over the past three months, which generally corresponds to the second quarter of 2019. www.federalreserve.gov/data/sloos/sloos-201907.htm

August 5, 2019 - Speech by Governor Brainard on delivering fast payments for all Governor Lael Brainard At the Federal Reserve Bank of Kansas City Town Hall, Kansas City, Missouri www.federalreserve.gov/newsevents/speech/brainard20190805a.htm

August 5, 2019 - Federal Reserve announces plan to develop a new round-the-clock real-time payment and settlement service to support faster payments - The Federal Reserve Board on Monday announced that the Federal Reserve Banks will develop a new round-the-clock real-time payment and settlement service, called the FedNow?  www.federalreserve.gov/newsevents/pressreleases/other20190805a.htm 

August 2, 2019 - Statement from Esther George - The following is a statement by Federal Reserve Bank of Kansas City President Esther George explaining her dissenting vote at the FOMC�s July 30-31, 2019, meeting: www.kansascityfed.org/en/newsroom/newsreleases/2019/esthergeorgestatement

August 2, 2019 - Membership and Leadership Appointments Announced for the Federal Reserve Bank of San Francisco�s Community Advisory Council www.frbsf.org/our-district/press/news-releases/2019/membership-and-leadership-appointments-community-advisory-council/

August 2, 2019 - Measuring Aggregate Housing Wealth: New Insights from an Automated Valuation Model - Joshua H. Gallin, Raven Molloy, Eric Nielsen, Paul Smith, and Kamila Sommer - We construct a new measure of aggregate housing wealth for the U.S. based on (1) home-value estimates derived from machine learning algorithms applied to detailed information on property characteristics and recent transaction prices, and (2) Census housing unit counts. www.federalreserve.gov/econres/feds/files/2018064r1pap.pdf

August 2, 2019 - FOIA - Chair Powell's calendar, June 2019.  www.federalreserve.gov/foia/chairman-powell-calendar-062019.htm

August 2, 2019 - A Simple Model of Voluntary Reserve Targets with Tolerance Bands - Garth Baughman and Francesca Carapella - This note presents a simplifed version of the model of voluntary reserve targets developed in Baughman and Carapella, with a Walrasian interbank market. www.federalreserve.gov/econres/feds/files/2019060pap.pdf

August 2, 2019 - Variance Disparity and Market Frictions - Yang-Ho Park - This paper introduces a new model-free approach to measuring the expectation of market variance using VIX derivatives. www.federalreserve.gov/econres/feds/files/2019059pap.pdf

August 2, 2019 - Transparency and collateral: the design of CCPs' loss allocation rules - Gaetano Antinolfi, Francesca Carapella, and Francesco Carli - This paper adopts a mechanism design approach to study optimal clearing arrangements for bilateral financial contracts in which an assessment of counterparty risk is crucial for efficiency. www.federalreserve.gov/econres/feds/files/2019058pap.pdf

August 2, 2019 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

August 2, 2019 - From Transactions Data to Economic Statistics: Constructing Real-time, High-frequency, Geographic Measures of Consumer Spending - Aditya Aladangady, Shifrah Aron-Dine, Wendy Dunn, Laura Feiveson, Paul Lengermann, and Claudia Sahm - Access to timely information on consumer spending is important to economic policymakers.  www.federalreserve.gov/econres/feds/files/2019057pap.pdf

August 2, 2019 - Regulating Financial Networks Under Uncertainty - Carlos Ram�rez - - I study the problem of regulating a network of interdependent financial institutions that is prone to contagion when there is uncertainty regarding its precise structure. I show that such uncertainty reduces the scope for welfare-improving interventions. www.federalreserve.gov/econres/feds/files/2019056pap.pdf

August 2, 2019 - The Money View Versus the Credit View - Sarah S. Baker, David L�pez-Salido, and Edward Nelson - We evaluate the relative merits of the "money view" and "credit view" as accounts of macroeconomic outcomes.  www.federalreserve.gov/econres/feds/files/2018042r1pap.pdf
 
August 2, 2019 - Lifecycle Patterns of Saving and Wealth Accumulation - Laura J. Feiveson and John Sabelhaus - Empirical analysis of U.S. income, saving and wealth dynamics is constrained by a lack of high-quality and comprehensive household-level panel data.  www.federalreserve.gov/econres/feds/files/2019010r1pap.pdf

August 2, 2019 - Comparing Two Measures of Core Inflation: PCE Excluding Food & Energy vs. the Trimmed Mean PCE Index - Matteo Luciani and Riccardo Trezzi -The inflation objective of the FOMC is set in terms of the rate of change of the price index for total personal consumption expenditures. www.federalreserve.gov/econres/notes/feds-notes/comparing-two-measures-of-core-inflation-20190802.htm

August 1, 2019 - Statistical Release - Foreign Exchange Rates - G.5 - The table below shows the average rates of exchange in JULY 2019 together with comparable figures for other months. Averages are based on daily noon buying rates for cable transfers in New York City certified for customs purposes by the Federal Reserve Bank of New York. www.federalreserve.gov/releases/g5/current/default.htm

August 1, 2019 - Federal Reserve Board approves actions by the Boards of Directors of the Federal Reserve Banks of Boston, New York, Cleveland, Richmond, Atlanta, Minneapolis, and Kansas City www.federalreserve.gov/newsevents/pressreleases/monetary20190801a.htm

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