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.

December 30, 2021 - NCUA - Portsmouth Schools Federal Credit Union Closes; BayPort Credit Union Assumes Loans, Assets, and Shares - Newport News Shipbuilding Employees Credit Union, doing business as BayPort Credit Union, immediately assumed Portsmouth Schools Federal Credit Union’s assets, member shares, and loans. www.ncua.gov/newsroom/press-release/2021/portsmouth-schools-federal-credit-union-closes-bayport-credit-union-assumes-loans-assets-and-shares

December 30, 2021 - St. Louis Fed Releases the Bank On National Data Hub Findings from 2020 - Bank On National Data Hub: Findings from 2020 analyzes data from 17 financial institutions related to account openings, usage and consistency, and online access. www.stlouisfed.org/news-releases/2021/12/22/st-louis-fed-releases-the-bank-on-national-data-hub-findings-from-2020

December 30, 2021 - FDIC Makes Public November Enforcement Actions - The Federal Deposit Insurance Corporation today released a list of orders of administrative enforcement actions taken against banks and individuals in November. www.fdic.gov/news/press-releases/2021/pr21106.html

December 30, 2021 - Covered Savings Associations - Staff of the Board of Governors of the Federal Reserve System has developed the following frequently asked questions to assist covered savings associations and companies that control a CSA in complying with statutes and regulations administered by the Board.   https://www.federalreserve.gov/supervisionreg/legalinterpretations/covered-savings-associations-frequently-asked-questions.htm 

December 30, 2021 - Bank Holding Companies and Change in Bank Control - Staff of the Board of Governors of the Federal Reserve System has developed the following frequently asked questions to assist entities in complying with the Board's Regulation Y. www.federalreserve.gov/supervisionreg/legalinterpretations/reg-y-frequently-asked-questions.htm

December 30, 2021 - Transactions Between Member Banks and Their Affiliates - Staff of the Board of Governors of the Federal Reserve System has developed the following frequently asked questions to assist entities in complying with the Board's Regulation W. www.federalreserve.gov/supervisionreg/legalinterpretations/reg-w-frequently-asked-questions.htm

December 30, 2021 - Loans to Executive Officers, Directors, and Principal Shareholders of Member Banks - Staff of the Board of Governors of the Federal Reserve System has developed the following frequently asked questions to assist entities in complying with the Board's Regulation O. www.federalreserve.gov/supervisionreg/legalinterpretations/reg-o-frequently-asked-questions.htm

December 30, 2021 - Publications - Disclosures Regarding the Emergency Lending Response to COVID-19, Pursuant to Section 11(s) of the Federal Reserve Act.   www.federalreserve.gov/disclosures-in-response-to-covid-19-pursuant-to-section-11-s.htm

December 30, 2021 - Regulatory Reform - Discount Window Lending, 2019:Q4 - Federal Reserve lending to depository institutions plays an important role in supporting the liquidity and stability of the banking system and the effective implementation of monetary policy. https://www.federalreserve.gov/regreform/discount-window.htm
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Banking at the Post Office May Be Making a Comeback - Advocates say the Postal Service can provide access to an essential financial system while bolstering its own economic position. The U.S. Postal Service began offering expanded financial services in a handful of cities last fall, a potential first step toward a return to postal banking. https://www.kiplinger.com/personal-finance/banking/603933/banking-at-the-post-office

December 30, 2021 - Community Reinvestment Act: Revision of Small and Intermediate Small Bank and Savings Association Asset Thresholds - Today the Office of the Comptroller of the Currency announces revisions to the asset-size threshold amounts used to define �small bank or savings association� and �intermediate small bank or savings association� under the Community Reinvestment Act regulations. www.occ.gov/news-issuances/bulletins/2021/bulletin-2021-67.html

December 30, 2021 - FDIC Makes Public November Enforcement Actions - The Federal Deposit Insurance Corporation today released a list of orders of administrative enforcement actions taken against banks and individuals in November. There is one administrative hearing scheduled for January 2022. www.fdic.gov/news/press-releases/2021/pr21106.html

December 30, 2021 - Membership of State Banking Institutions in the Federal Reserve System - Staff of the Board of Governors of the Federal Reserve System has developed the following frequently asked questions to assist entities in complying with the Board's Regulation H. www.federalreserve.gov/supervisionreg/legalinterpretations/reg-h-frequently-asked-questions.htm

December 30, 2021 - Regulatory Reform - Discount Window Lending, 2019:Q4 - Federal Reserve lending to depository institutions plays an important role in supporting the liquidity and stability of the banking system and the effective implementation of monetary policy. www.federalreserve.gov/regreform/discount-window.htm

December 30, 2021 - NCUA Issues Prohibition Order - The National Credit Union Administration issued one prohibition order in December. www.ncua.gov/newsroom/press-release/2021/ncua-issues-prohibition-order

December 27, 2021 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update.  www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm
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December 23, 2021 - Labor Markets Are Tight, but Conditions Vary across States - A record 4.4 million employees quit their jobs in September 2021, and many businesses are struggling to fill open positions. www.kansascityfed.org/research/economic-bulletin/labor-markets-are-tight-but-conditions-vary-across-states/

December 23, 2021 - Regulatory Relief: Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Alabama Affected by Severe Storms and Flooding.  www.fdic.gov/news/financial-institution-letters/2021/fil21082.html

December 23, 2021 - Federal Reserve Board announces termination of enforcement action with Cornerstone Bancshares, Inc. www.federalreserve.gov/newsevents/pressreleases/enforcement20211223a.htm

December 22, 2021 - Local Economic Snapshot - With Local Economic Snapshot, search for a city, county, state, region, or Federal Reserve district to find economic, industry, and demographic information. www.chicagofed.org/snapshot#/united_states

December 22, 2021 - Federal Reserve issues update to Payments Study - The findings highlight changes in card payments and increased adoption of innovative payment methods following the emergence of COVID-19. www.federalreserve.gov/newsevents/pressreleases/other20211222a.htm

December 21, 2021 - Federal Bank Regulatory Agencies Release 2020 Small Business, Small Farm, and Community Development Lending Data - The Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency, members of the Federal Financial Institutions Examination Council, today released data on small business, small farm, and community development lending during 2020.
Press Release: www.ffiec.gov/press/pr122121.htm
Press Release: www.fdic.gov/news/press-releases/2021/pr21105.html
Press Release: www.occ.gov/news-issuances/news-releases/2021/nr-ia-2021-141.html

December 21, 2021 - Senior Credit Officer Opinion Survey on Dealer Financing Terms, December 2021 - The Senior Credit Officer Opinion Survey on Dealer Financing Terms is a quarterly survey providing information about the availability and terms of credit in securities financing and over-the counter derivatives markets. www.federalreserve.gov/data/scoos.htm

December 21, 2021 - Interagency Statement on the Community Bank Leverage Ratio Framework - The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency today issued a statement to provide information on the use of the two-quarter grace period under the optional community bank leverage ratio framework.
Press Release: www.federalreserve.gov/supervisionreg/srletters/SR2121.htm
Press Release: www.occ.gov/news-issuances/bulletins/2021/bulletin-2021-66.html
Press Release: www.fdic.gov/news/financial-institution-letters/2021/fil21081.html

December 21, 2021 - NCUA Board Approves COVID-19 Regulatory Relief Extension - The National Credit Union Administration Board unanimously approved, by notation vote, an extension of the effective date of its temporary final rule, which modified certain regulatory requirements to help ensure that federally insured credit unions remain operational and can address economic conditions caused by the COVID�19 pandemic. www.ncua.gov/newsroom/press-release/2021/ncua-board-approves-covid-19-regulatory-relief-extension

December 21, 2021 - NCUA Charters Unity of Eatonville Federal Credit Union - The National Credit Union Administration has granted a federal charter and Share Insurance Fund coverage to Unity of Eatonville Federal Credit Union in Eatonville, Florida. www.ncua.gov/newsroom/press-release/2021/ncua-charters-unity-eatonville-federal-credit-union

December 20, 2021 - OCC Reports Third Quarter 2021 Bank Trading Revenue - The Office of the Comptroller of the Currency reported trading revenue of U.S. commercial banks and savings associations of $6.8 billion in the third quarter of 2021. www.occ.gov/news-issuances/news-releases/2021/nr-occ-2021-140.html
 
December 20, 2021 - Other Real Estate Owned: Updated Comptroller's Handbook Booklet and Rescissions - Other Real Estate Owned: Updated Comptroller's Handbook Booklet and Rescissions. www.occ.gov/news-issuances/bulletins/2021/bulletin-2021-65.html

December 20, 2021 - Small Business C&I Loan Balances Decline in Third Quarter Small business commercial & industrial loan balances decreased by 18.6 percent compared with the third quarter of 2020. www.kansascityfed.org/surveys/small-business-lending-survey/small-business-ci-loan-balances-decline-in-third-quarter/

December 20, 2021 - LMI Economic Conditions in the Tenth District � Fall 2021 - LMI communities appear to be facing continued stress across many factors due to the persistence of COVID-19. www.kansascityfed.org/surveys/low-and-moderate-income-economic-conditions/lmi-economic-conditions-in-the-tenth-district-fall-2021/

December 20, 2021 - Non-Linear Employment Effects of Tax Policy - Domenico Ferraro and Giuseppe Fiori - We study the non-linear propagation mechanism of tax policy in a heterogeneous agent equilibrium business cycle model with search frictions in the labor market and an extensive margin of employment adjustment. www.federalreserve.gov/econres/ifdp/non-linear-employment-effects-of-tax-policy.htm

December 20, 2021 - Statistical Release - Structure and Share Data for U.S. Banking Offices of Foreign Entities - Data are collected as of the end of the month for March, June, September and December, and generally are released three months later. www.federalreserve.gov/releases/iba/default.htm

December 17, 2021 - Counterfeit Cashier�s Checks: American National Bank and Trust Company - The above-named bank has reported that counterfeit cashier�s checks using the bank�s routing number of 051401027 are being presented for payment nationwide in connection with various internet scams involving mystery shopping and job opportunities. www.occ.gov/news-issuances/alerts/2021/alert-2021-7.html 

December 17, 2021 - Acting Comptroller of the Currency Issues Statement in Support of the FSOC�s Climate-related Financial Risk Committee - I fully support the FSOC�s vote today to create the Climate-related Financial Risk Committee. www.occ.gov/news-issuances/news-releases/2021/nr-occ-2021-139.html

December 17, 2021 - Home Mortgage Disclosure Act: Interagency Examination Procedures - The Office of the Comptroller of the Currency today issued the revised interagency Home Mortgage Disclosure Act examination procedures for determining compliance with HMDA and its implementing regulations. www.occ.gov/news-issuances/bulletins/2021/bulletin-2021-63.html 

December 17, 2021 - Oklahoma�s Evolving Energy Landscape - This edition of the Oklahoma Economist investigates recent trends and the longer-term evolution of the state�s energy sector. www.kansascityfed.org/oklahomacity/oklahoma-economist/oklahomas-evolving-energy-landscape/

December 17, 2021 - Manufacturing Survey - The Kansas City Fed's monthly Survey of Tenth District Manufacturers provides information on manufacturing activity in the Tenth Federal Reserve District. www.kansascityfed.org/surveys/manufacturing-survey/

December 17, 2021 - Status of Certain Investment Funds and their Portfolio Investments for Purposes of Regulation O and Reporting Requirements under Part 363 of FDIC Regulations - The Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency are issuing the attached interagency statement to explain that the federal banking agencies will continue to exercise discretion to not take enforcement action against either an asset manager that is a principal shareholder of a bank, or a bank for which an asset manager is a principal shareholder, with respect to extensions of credit by the bank to the related interests of such asset manager that otherwise would violate Regulation O.
Press Release: www.federalreserve.gov/supervisionreg/srletters/SR2120.htm
Press Release: www.occ.gov/news-issuances/bulletins/2021/bulletin-2021-64.html

December 17, 2021 - Revised Home Mortgage Disclosure Act Examination Procedures - These procedures are for use in connection with HMDA data collected since January 1, 2018 pursuant to the Consumer Financial Protection Bureau's October 15, 2015 and August 24, 2017 amendments to Regulation C,2 which implements HMDA, and the Economic Growth, Regulatory Relief, and Consumer Protection Act's May 24, 2018 amendments to HMDA. www.federalreserve.gov/supervisionreg/caletters/caltr2117.htm

December 17, 2021 - Corporate Taxes and the Earnings Distribution: Effects of the Domestic Production Activities Deduction - Christine L. Dobridge, Paul Landefeld, and Jacob Mortenson - This paper investigates how corporate tax changes affect workers� earnings. We use a dataset of U.S. worker-level W-2 filings matched with corporate tax returns and study the implementation of the Domestic Production Activities Deduction.   www.federalreserve.gov/econres/feds/corporate-taxes-and-the-earnings-distribution-effects-of-the-domestic-production-activities-deduction.htm

December 17, 2021 - Statistical Release - Enhanced Financial Accounts, December 2021 update. www.federalreserve.gov/releases/efa/enhanced-financial-accounts.htm 

December 17, 2021 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

December 17, 2021 - Communications with the public through December 17, 2021.  www.federalreserve.gov/reform.htm

December 17, 2021 - Equilibrium Unemployment: The Role of Discrimination - Juan C. C�rdoba, Anni T. Isoj�rvi, and Haoran Li - U.S. labor markets are increasingly diverse and persistently unequal between genders, races and ethnicities, skill levels, and age groups. www.federalreserve.gov/econres/feds/equilibrium-unemployment-the-role-of-discrimination.htm

December 17, 2021 - Recourse as Shadow Equity: Evidence from Commercial Real Estate Loans - David Glancy, Robert Kurtzman, Lara Loewenstein, and Joseph Nichols - We study the role that recourse plays in the commercial real estate loan contracts of the largest U.S. banks. www.federalreserve.gov/econres/feds/recourse-as-shadow-equity-evidence-from-commercial-real-estate-loans.htm

December 17, 2021 - Motivating Banks to Lend? Credit Spillover Effects of the Main Street Lending Program - Camelia Minoiu, Rebecca Zarutskie, and Andrei Zlate - We study the effects of the Main Street Lending Program an emergency lending program aimed at supporting the flow of credit to small and mid-sized firms during the COVID-19 crisis on bank lending to businesses. www.federalreserve.gov/econres/feds/motivating-banks-to-lend-credit-spillover-effects-of-the-main-street-lending-program.htm

December 17, 2021 - Speech by Governor Waller on the economic outlook - Governor Christopher J. Waller At the Forecasters Club of New York, New York, New York.   www.federalreserve.gov/newsevents/speech/waller20211217a.htm

December 17, 2021 - Federal Reserve announces approval of application by WSFS Financial Corporation - The Federal Reserve Board on Friday announced its unanimous approval of the application by WSFS Financial Corporation, Wilmington, Delaware, to acquire Bryn Mawr Bank Corporation, Bryn Mawr, Pennsylvania. www.federalreserve.gov/newsevents/pressreleases/orders20211217c.htm

December 17, 2021 - Federal Reserve announces approval of application by Webster Financial Corporation - The Federal Reserve Board on Friday announced its unanimous approval of the application by Webster Financial Corporation, Waterbury, Connecticut, to acquire Sterling Bancorp, and indirectly acquire Sterling National Bank, both of Pearl River, New York. www.federalreserve.gov/newsevents/pressreleases/files/orders20211217b1.pdf

December 17, 2021 - Federal Reserve announces approval of application by First Citizens BancShares, Inc. www.federalreserve.gov/newsevents/pressreleases/orders20211217a.htm
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December 16, 2021 - 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.gov/news-issuances/news-releases/2021/nr-occ-2021-136.html

December 16, 2021 - Risk Management: Principles for Climate-Related Financial Risk Management for Large Banks; Request for Feedback - The Office of the Comptroller of the Currency today announced draft principles designed to support the identification and management of climate-related financial risks by banks with more than $100 billion in total consolidated assets. www.occ.gov/news-issuances/bulletins/2021/bulletin-2021-62.html

December 16, 2021 - OCC Seeks Feedback on Principles for Climate-Related Financial Risk Management for Large Banks - The Office of the Comptroller of the Currency today requested feedback on draft principles designed to support the identification and management of climate-related financial risks at OCC-regulated institutions with more than $100 billion in total consolidated assets. www.occ.gov/news-issuances/news-releases/2021/nr-occ-2021-138.html

December 16, 2021 - OCC Assesses $1 Million Civil Money Penalty Against CommunityBank of Texas For Violations of the Bank Secrecy Act - The Office of the Comptroller of the Currency today announced a $1 million civil money penalty against CommunityBank of Texas, N.A., Beaumont, Texas, for violations of the OCC�s Bank Secrecy Act regulations. www.occ.gov/news-issuances/news-releases/2021/nr-occ-2021-137.html

December 16, 2021 - Legal Interpretations - Bank Holding Company Act, November 12 and 24, 2021.  www.federalreserve.gov/supervisionreg/legalinterpretations/bhc_changeincontrol2021.htm

December 16, 2021 - Statistical Release - Finance Companies - G.20.  www.federalreserve.gov/releases/g20/current/g20.htm

December 16, 2021 - Statistical Release - Industrial Production and Capacity Utilization - G.17 - Industrial production rose 0.5 percent in November. The indexes for both manufacturing and mining increased 0.7 percent, while the index for utilities decreased 0.8 percent. www.federalreserve.gov/releases/g17/current/default.htm

December 16, 2021 - Agencies release annual asset-size thresholds under Community Reinvestment Act regulations - The Federal Reserve Board and the Federal Deposit Insurance Corporation today announced the 2022 updated asset-size thresholds used to define "small bank" and "intermediate small bank" under their Community Reinvestment Act regulations.
Prerss Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20211216a.htm
Press Release: www.fdic.gov/news/press-releases/2021/pr21104.html

December 16, 2021 - Federal Reserve Board announces termination of enforcement action with Home Bancgroup Inc. www.occ.gov/static/ots/enforcement/97430.pdf

December 16, 2021 - NCUA - Board Approves 2022�2023 Budget, Sets Normal Operating Level - The National Credit Union Administration Board held its eleventh open meeting of 2021 through a live webcast and approved four items: www.ncua.gov/newsroom/press-release/2021/board-approves-2022-2023-budget-sets-normal-operating-level

December 15, 2021 - Federal and State Financial Regulatory Agencies Issue Interagency Statement on Supervisory Practices Regarding Financial Institutions Affected by Tornadoes - The Office of the Comptroller of the Currency, Federal Reserve Board, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the state regulators, collectively the agencies, recognize the serious impact of tornadoes on the customers and operations of many financial institutions and will provide appropriate regulatory assistance to affected institutions subject to their supervision.
Press Release: www.occ.gov/news-issuances/news-releases/2021/nr-ia-2021-135.html
Press Release: www.ncua.gov/newsroom/press-release/2021/federal-and-state-financial-regulatory-agencies-issue-interagency-statement-supervisory-practices-2

December 15, 2021 - Acting Comptroller Issues Statement on RFI on Bank Mergers - Acting Comptroller of the Currency Michael J. Hsu issued the following statement today regarding the Request for Information on bank mergers. www.occ.gov/news-issuances/news-releases/2021/nr-occ-2021-134.html

December 15, 2021 - Community Reinvestment Act: Final Rule to Rescind and Replace Community Reinvestment Act Rule Issued in 2020 - On December 14, 2021, the Office of the Comptroller of the Currency issued a final rule to rescind the June 2020 Community Reinvestment Act rule and replace it with a rule based on the rules adopted jointly by the federal banking agencies in 1995, as amended. www.occ.gov/news-issuances/bulletins/2021/bulletin-2021-61.html

December 15, 2021 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at 9:00 a.m. on December 14, 2021 and continued at 9:00 a.m. on December 15, 2021. Matter(s) considered: Discussion of Monetary Policy Issues. www.federalreserve.gov/aboutthefed/boardmeetings/20211214closed.htm

December 15, 2021 - Federal Reserve Board and Federal Open Market Committee release economic projections from the December 14-15 FOMC meeting.   www.federalreserve.gov/monetarypolicy/files/fomcprojtabl20211215.pdf

December 15, 2021 - Federal Reserve issues FOMC statement - The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals. www.federalreserve.gov/newsevents/pressreleases/monetary20211215a.htm

December 14, 2021 - NCUA Releases Q3 2021 State-Level Data Report - Federally insured credit unions continued to see elevated asset and share-and-deposit growth over the year ending in the third quarter of 2021, according to the latest NCUA Quarterly U.S. Map Review www.ncua.gov/newsroom/press-release/2021/ncua-releases-q3-2021-state-level-data-report

December 14, 2021 - NCUA Awards $100,000 in Minority Depository Institutions Mentoring Grants - The National Credit Union Administration has awarded $100,000 in grants to four minority depository institution credit unions to support mentoring programs with larger institutions. www.ncua.gov/newsroom/press-release/2021/ncua-awards-100000-minority-depository-institutions-mentoring-grants

December 14, 2021 - Acting Comptroller Issues Statement on RFI on Bank Mergers - Acting Comptroller of the Currency Michael J. Hsu issued the following statement today regarding the Request for Information on bank mergers. www.occ.gov/news-issuances/news-releases/2021/nr-occ-2021-134.html

December 14, 2021 - OCC Issues Final Rule to Rescind its 2020 Community Reinvestment Act Rule - The Office of the Comptroller of the Currency issued a final rule to rescind the June 2020 Community Reinvestment Act rule and replace it with a rule based on the rules adopted jointly by the Federal banking agencies in 1995, as amended. www.occ.gov/news-issuances/news-releases/2021/nr-occ-2021-133.html

December 14, 2021 - TENTH DISTRICT ECONOMIC DATABOOKS - The Kansas City Fed's quarterly economic databooks provide summaries for the Tenth Federal Reserve District states including Colorado, Kansas, Missouri, Nebraska, New Mexico, Oklahoma, and Wyoming. www.kansascityfed.org/data-and-trends/tenth-district-economic-databooks/

December 14, 2021 - FDIC Board Approves 2022 Operating Budget - The Board of Directors of the Federal Deposit Insurance Corporation today approved a 2022 Operating Budget of $2.262 billion. www.fdic.gov/news/press-releases/2021/pr21102.html

December 13, 2021 - Kelly Lay Named Director of the Office of Examination and Insurance - The National Credit Union Administration today named Kelly Lay, the current Director of the Office of Business Innovation, to be the new Director of the Office of Examination and Insurance. www.ncua.gov/newsroom/press-release/2021/kelly-lay-named-director-office-examination-and-insurance

December 13, 2021 - Acting Comptroller of the Currency Kicks Off DC REACh - Acting Comptroller of the Currency Michael J. Hsu today joined civic leaders, community advocates, and bankers to launch DC REACh, thereby expanding the OCC�s Project REACh efforts to Washington, D.C. www.occ.gov/news-issuances/news-releases/2021/nr-occ-2021-132.html

December 13, 2021 - Reports to Congress Pursuant to Section 13(3) of the Federal Reserve Act in response to COVID-19. www.federalreserve.gov/publications/reports-to-congress-in-response-to-covid-19.htm

December 10, 2021 - OCC Reports Improvement in Mortgage Performance - The Office of the Comptroller of the Currency reported that the performance of first-lien mortgages in the federal banking system improved during the third quarter of 2021. www.occ.gov/news-issuances/news-releases/2021/nr-occ-2021-131.html

December 10, 2021 - Unauthorized Banking: FNB - The Office of the Comptroller of the Currency has been informed that an entity using the name �FNB� is misrepresenting itself as a national bank. www.occ.gov/news-issuances/alerts/2021/alert-2021-6.html

December 10, 2021 - Revised Licensing Booklets: Revised Comptroller�s Licensing Manual Booklets - The Office of the Comptroller of the Currency issued today the �Background Investigations,� �Capital and Dividends,� "Charters,� �Conversions to Federal Charter,� and �National Bank Director Waivers� booklets of the Comptroller�s Licensing Manual. www.occ.gov/news-issuances/bulletins/2021/bulletin-2021-60.html

December 10, 2021 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

December 10, 2021 - The Federal Reserve Reminds Firms of Safe and Sound Practices for Counterparty Credit Risk Management in Light of the Archegos Capital Management Default - Archegos Capital Management, an investment firm heavily concentrated in a small number of U.S. and Chinese technology and media companies, defaulted on March 26, 2021, causing over $10 billion in losses across several large banks, principally outside the United States. www.federalreserve.gov/supervisionreg/srletters/SR2119.htm

December 10, 2021 - Federal Reserve Banks Combined Quarterly Financial Reports (Unaudited), 2021:Q3 - The quarterly financial reports present summary financial information on the combined financial position and results of operations of the Reserve Banks. www.federalreserve.gov/aboutthefed/combined-quarterly-financial-reports-unaudited.htm

December 10, 2021 - Federal Reserve Board reiterates its supervisory expectations for large banks' risk management with investment funds - The supervisory message follows a review by the Board of the default and failure of Archegos Capital Management, a concentrated and leveraged fund. www.federalreserve.gov/newsevents/pressreleases/bcreg20211210a.htm

December 9, 2021 - Unauthorized Banking: Amarico Trust Bank - The Office of the Comptroller of the Currency has been informed that an entity using the name �Amarico Trust Bank� and branding itself as �AmTrust Bank,� an inactive institution, is misrepresenting itself as a national bank. www.occ.treas.gov/news-issuances/alerts/2021/alert-2021-5.html

December 9, 2021 - The KC Fed LMCI suggests the level of activity increased in November, while momentum was little changed - The level of activity indicator increased by 0.17 in November from 1.06 to 1.24. www.kansascityfed.org/data-and-trends/lmci/current-release/

December 9, 2021 - The KCFSI suggests financial stress remained low in November - The Kansas City Financial Stress Index edged down from -0.63 in October to -0.69 in November, remaining well below its historical average. www.kansascityfed.org/data-and-trends/kansas-city-financial-stress-index/current-release/
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December 9, 2021 - Earlier today, the Consumer Financial Protection Bureau (CFPB) posted on its website a document, purportedly approved by the FDIC, requesting comment on bank mergers. No such document has been approved by the FDIC. https://www.fdic.gov/news/press-releases/2021/pr21100.html

December 9, 2021 - Acting Comptroller Issues Statement on HUD Guidance for Special Purpose Credit Programs - This guidance confirms that lenders may use properly designed and implemented special purpose credit programs to help address long-standing home mortgage credit needs for groups that have been economically disadvantaged. www.occ.gov/news-issuances/news-releases/2021/nr-occ-2021-130.html

December 9, 2021 - Statistical Release - Financial Accounts of the United States - Z.1 - The Financial Accounts of the United States includes data on transactions 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/default.htm

December 9, 2021 - Federal Reserve Board issues enforcement action with former institution-affiliated party of Santander Consumer USA, Inc. www.federalreserve.gov/newsevents/pressreleases/enforcement20211209a.htm
 
December 9, 2021 - NCUA Chairman Todd M. Harper Remarks at the Women in Housing and Finance Luncheon.  www.ncua.gov/newsroom/speech/2021/ncua-chairman-todd-m-harper-remarks-women-housing-and-finance-luncheon

December 8, 2021 - NCUA Chairman Todd M. Harper Opening Remarks at NCUA�s Public Budget Hearing.  www.ncua.gov/newsroom/speech/2021/ncua-chairman-todd-m-harper-opening-remarks-ncuas-public-budget-hearing 

December 8, 2021 - Acting Comptroller Discusses Reforming Overdraft Programs - Acting Comptroller of the Currency Michael J. Hsu today discussed reforming bank overdraft programs to improve individuals� financial health in remarks before the Consumer Federation of America�s 34th Annual Financial Services. www.occ.gov/news-issuances/speeches/2021/pub-speech-2021-129.pdf 

December 8, 2021 - The Federal Financial Institutions Examination Council�s member agencies are making an enhancement to the Uniform Bank Performance Report to allow users to create a custom �My UBPR page� as part of the overall UBPR report. www.ffiec.gov/press/an120821.htm 

December 7, 2021 - Lauren Oppenheimer to Serve as Chief of Staff to the Acting Comptroller - The Office of the Comptroller of the Currency today announced the appointment of Lauren Oppenheimer as Chief of Staff to Acting Comptroller Michael J. Hsu. www.occ.gov/news-issuances/news-releases/2021/nr-occ-2021-128.html

December 7, 2021 - BANK CAPITAL ANALYSIS - The Bank Capital Analysis provides a horizontal comparison of capital adequacy among banking organizations of varying size and complexity. www.kansascityfed.org/research/bank-capital-analysis/

December 7, 2021 - Statistical Release - Consumer Credit - G.19 - In October, consumer credit increased at a seasonally adjusted annual rate of 4.6 percent. Revolving credit increased at an annual rate of 7.8 percent, while nonrevolving credit increased at an annual rate of of 3.7 percent. www.federalreserve.gov/releases/g19/current/default.htm

December 6, 2021 - Credit Unions See Continued Share and Deposit Growth in Third Quarter - According to the latest financial performance data released today by the National Credit Union Administration, federally insured credit unions saw shares and deposits increase by $219.9 billion, or 14.4 percent, to $1.75 trillion over the year ending in the third quarter of 2021. www.ncua.gov/newsroom/press-release/2021/credit-unions-see-continued-share-and-deposit-growth-third-quarter

December 6, 2021 - OCC Reports on Risks, Effects of COVID-19 Pandemic on Federal Banking System - The Office of the Comptroller of the Currency today reported the key issues facing the federal banking system and the effects of the COVID-19 pandemic on the federal banking industry in its Semiannual Risk Perspective for Fall 2021. www.occ.gov/news-issuances/news-releases/2021/nr-occ-2021-127.html

December 6, 2021 - FDIC Launches Office of Supervisory Appeals - The new Office will enhance the independence of the FDIC�s supervisory appeals process and further the FDIC�s goal of ensuring consistency and accountability in the examination process. www.fdic.gov/news/financial-institution-letters/2021/fil21077.html

December 3, 2021 - OCC Solicits Academic Papers, Research on Climate Risk in Banking and Finance - The Office of the Comptroller of the Currency is soliciting academic-focused papers and policy-focused research on climate risk in banking and finance for presentation to the OCC on June 6-7, 2022. www.occ.gov/news-issuances/news-releases/2021/nr-occ-2021-126.html

December 3, 2021 - Research Working Paper - Although most economics journals recommend that researchers release code and data with their papers, almost no journals specify how or whether these files will be preserved for the future. www.kansascityfed.org/research/research-working-papers/safeguarding-research-a-review-of-economics-journals-preservation-policies-for-published-code-and-data-files/

December 3, 2021 - St. Louis Fed�s Bullard Discusses �The Inflation Shock of 2021� - Federal Reserve Bank of St. Louis President James Bullard presented �The Inflation Shock of 2021� at a meeting of the Missouri Bankers Association on Friday. www.stlouisfed.org/news-releases/2021/12/03/bullard-discusses-the-inflation-shock-of-2021

December 3, 2021 - FDIC Issues List of Banks Examined for CRA Compliance - The list covers evaluation ratings that the FDIC assigned to institutions in September 2021. www.fdic.gov/news/press-releases/2021/pr21100.html

December 3, 2021 - FOIA - Chair Powell's calendar, October 2021. www.federalreserve.gov/foia/chairman-powell-calendar.htm

December 3, 2021 - Effects of Supply Chain Bottlenecks on Prices using Textual Analysis - Henry L. Young, Anderson Monken, Flora Haberkorn, and Eva Van Leemput - After collapsing in the second half of 2020, global demand for goods, as reflected in global trade, has been exceptionally strong and now well exceeds pre-pandemic levels. www.federalreserve.gov/econres/notes/feds-notes/effects-of-supply-chain-bottlenecks-on-prices-using-textual-analysis-20211203.htm

December 3, 2021 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

December 3, 2021 - New Accounting Framework Faces Its First Test: CECL During the Pandemic - Bert Loudis, Sasha Pechenik, Ben Ranish, Cindy M. Vojtech, and Helen Xu1 - On January 1, 2020, most large and mid-sized U.S. banks adopted Current Expected Credit Losses a new accounting standard for estimating allowances. www.federalreserve.gov/econres/notes/feds-notes/new-accounting-framework-faces-its-first-test-cecl-during-the-pandemic-20211203.htm

December 3, 2021 - NCUA Chairman Todd M. Harper Remarks at the America Saves 20th Anniversary Celebration www.ncua.gov/newsroom/speech/2021/ncua-chairman-todd-m-harper-remarks-america-saves-20th-anniversary-celebration

December 2, 2021 - Limited Demand for Farm Loans, But Strong Profits for Ag Banks - Agricultural lending at commercial banks continued to decline but showed some signs of stabilizing in the third quarter. www.kansascityfed.org/agriculture/agfinance-updates/limited-demand-for-farm-loans-but-strong-profits-for-ag-banks/

December 2, 2021 - Between the Hither and the Farther Shore: Thoughts on Unfinished Business - Governor Randal K. Quarles At the American Enterprise Institute, Washington, D.C. www.federalreserve.gov/newsevents/speech/quarles20211202a.htm

December 2, 2021 - Entry, Variable Markups, and Business Cycles - William L. Gamber - The creation of new businesses declines in recessions. In this paper, I study the effects of pro-cyclical business formation on aggregate employment in a general equilibrium model of firm dynamics. www.federalreserve.gov/econres/feds/entry-variable-markups-and-business-cycles.htm

December 1, 2021 - The Rise of Buy Now, Pay Later: Bank and Payment Network Perspectives and Regulatory Considerations - Buy now, pay later products offered by fintechs have gained traction among consumers and merchants in recent years and could compete with credit cards as a payment option. www.kansascityfed.org/research/payments-system-research-briefings/the-rise-of-buy-now-pay-later-bank-and-payment-network-perspectives-and-regulatory-considerations/
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December 2, 2021 - OCC Releases CRA Evaluations for 17 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, 2021 through November 30, 2021. www.occ.gov/news-issuances/news-releases/2021/nr-occ-2021-125.html

December 2, 2021 - Departing thoughts by Governor Quarles - Governor Randal K. Quarles At the American Enterprise Institute, Washington, D.C. www.federalreserve.gov/newsevents/speech/quarles20211202a.htm

December 2, 2021 - NCUA Chairman Todd M. Harper Remarks at the American Association of Credit Union Leagues� Winter Meeting.  www.ncua.gov/newsroom/speech/2021/ncua-chairman-todd-m-harper-remarks-american-association-credit-union-leagues-winter-meeting

December 1, 2021 - OCC Announces Assessment Rates for Calendar Year 2022 - The Office of the Comptroller of the Currency is publishing its assessment rates for the 2022 calendar year, maintaining the rates established for 2021. www.occ.gov/news-issuances/news-releases/2021/nr-occ-2021-123.html

December 1, 2021 - Office of the Comptroller of the Currency Fees and Assessments: Calendar Year 2022 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 2022. www.occ.gov/news-issuances/bulletins/2021/bulletin-2021-58.html

December 1, 2021 - Bank Secrecy Act/Anti-Money Laundering Examination Manual Update - The Federal Financial Institutions Examination Council is updating sections and related examination procedures in the FFIEC Bank Secrecy Act/Anti-Money Laundering Examination Manual.
Press Release: www.fdic.gov/news/financial-institution-letters/2021/fil21076.html
Press Release: www.occ.gov/news-issuances/bulletins/2021/bulletin-2021-59.html
Press Release: www.ffiec.gov/press/pr120121.htm
Press Release: www.ncua.gov/newsroom/press-release/2021/federal-and-state-regulators-release-updates-bsaaml-examination-manual-1

December 1, 2021 - Beige Book - Informal review by the Federal Reserve Banks of current economic conditions in their Districts.  www.federalreserve.gov/monetarypolicy/beigebook202112.htm

December 1, 2021 - Federal Reserve Board approves fee schedule for Federal Reserve Bank priced services - The Federal Reserve Board on Wednesday announced the approval of fee schedules, effective January 3, 2022, for payment services the Federal Reserve Banks provide to depository institutions, known as priced services. www.federalreserve.gov/newsevents/pressreleases/other20211201a.htm