The E-mail Banking News
(Bank Regulatory News)

January 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 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 bankers in Texas, New Mexico, Colorado, and Oklahoma.

January 17, 2019 - Morris Morgan Named OCC’s Chief Operating Officer - Comptroller of the Currency Joseph Otting created the Chief Operating Officer position as part of changes to the agency’s executive-reporting structure that result in greater coordination and integration of the agency’s bank supervision activities. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-5.html

January 17, 2019 - Kansas City Fed appoints Community Depository Institutions Advisory Council members - The Federal Reserve Bank of Kansas City announced the following appointments to its Community Depository Institutions Advisory Council. www.kansascityfed.org/~/media/files/publicat/aboutus/cdiacappointmentrelease2019.pdf

January 17, 2019 - A closed meeting of the Board of Governors of the Federal Reserve System will be held under expedited procedures at 11:30 a.m. on January 22, 2019. 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/20190122closed.htm

January 17, 2019 - NCUA - Board Approves Annual Performance Plan - The National Credit Union Administration Board held its first open meeting of 2019 at the agency’s headquarters today and unanimously approved two items: www.ncua.gov/newsroom/press-release/2019/board-approves-annual-performance-plan

January 16, 2019 - Chicago Fed Survey of Business Conditions - Survey shows steady growth in late November and December - The Chicago Fed Survey of Business Conditions Activity Index decreased slightly to -4 from -2, suggesting that growth in economic activity remained at a modest pace in late November and December.  www.chicagofed.org/~/media/publications/cfsbc/2019/cfsbc-january2019-pdf.pdf

January 16, 2019 - St. Louis Fed Releases Beige Book - 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/2019/01/16/st-louis-fed-releases-beige-book

January 16, 2019 - Beige Book - Informal review by the Federal Reserve Banks of current economic conditions in their Districts. www.federalreserve.gov/monetarypolicy/beige-book-default.htm

January 16, 2019 - Federal Reserve Board launches interactive mobile application to teach students about security and design features of Federal Reserve notes - The application complements other material available through the Board's Currency Education Program. www.federalreserve.gov/newsevents/pressreleases/other20190116a.htm

January 16, 2019 - Federal Reserve Board launches article series on financial conditions and concerns of consumers and communities - The Federal Reserve Board on Wednesday announced Consumer & Community Context, an article series that features original analysis about the financial conditions and experiences of consumers and communities, including traditionally underserved and economically vulnerable households and neighborhoods. www.federalreserve.gov/newsevents/pressreleases/other20190116b.htm

January 15, 2019 - Consolidated Reports of Condition and Income - The Consolidated Reports of Condition and Income for the December 31, 2018, report date must be submitted to the agencies' Central Data Repository by Wednesday, January 30, 2019. www.fdic.gov/news/news/financial/2019/fil19003.html

January 15, 2019 - Revisions to the Federal Reserve Dollar Indexes - Bastian von Beschwitz, Christopher G. Collins, and Deepa D. Datta - Starting in February 2019, the Federal Reserve will make important changes to the foreign exchange rate indexes included in the H.10, G.5, and G.5A releases. www.federalreserve.gov/econres/notes/ifdp-notes/revisions-to-the-federal-reserve-dollar-indexes-20190115.htm

January 15, 2019 - Minutes of the Board's discount rate meetings from December 10 and December 19, 2018. www.federalreserve.gov/newsevents/pressreleases/monetary20190115a.htm

January 15, 2019 - Emerging Trends in the U.S. and Colorado Economies by Alison Felix Economist and Branch Executive Federal Reserve Bank ofKansas City Denver Branch. 
www.kansascityfed.org/~/media/files/publicat/speeches/2019/2019-felix-cfa-01-15%20final.pdf

January 15, 2019 - “Are We There Yet?” The U.S. Economy and Monetary Policy By Esther George President and Chief Executive Officer Federal Reserve Bank of Kansas City.   www.kansascityfed.org/~/media/files/publicat/speeches/2019/2019-george-kansascity-01-15.pdf 

January 11, 2019 - Civil Money Penalties: Notice Adjusting Civil Money Penalties for 2019 - On December 27, 2018, the Office of the Comptroller of the Currency published in the Federal Register the attached notice to adjust the maximum amount of each civil money penalty within its jurisdiction pursuant to the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015. www.occ.treas.gov/news-issuances/bulletins/2019/bulletin-2019-2.html

January 11, 2019 - Kansas City Fed Announces 2019 Community Development Advisory Council Appointments - The Federal Reserve Bank of Kansas City has announced four appointments to its Community Development Advisory Council for 2019.  www.kansascityfed.org/~/media/files/publicat/newsroom/2019/cdacofficers2019docx.pdf

January 11, 2019 - Consolidated Reports of Condition and Income for Fourth Quarter 2018 - The attached materials pertain to the Consolidated Reports of Condition and Income for the December 31, 2018, report date. Please plan to complete as early as possible the preparation, editing, and review of your institution’s Call Report data and the submission of these data to the agencies’ Central Data Repository. www.fdic.gov/news/news/financial/2019/fil19002.html 

January 11, 2019 - The Information in Interest Coverage Ratios of the US Nonfinancial Corporate Sector - Francisco Palomino, Stephen Paolillo, Ander Perez-Orive, and Gerardo Sanz-Maldonado - The interest coverage ratio --defined as the ratio of earnings before interest and taxes to interest expenses--is an indicator of the ability of a company to make interest payments using internal cash flows. www.federalreserve.gov/econres/notes/feds-notes/information-in-interest-coverage-ratios-of-the-us-nonfinancial-corporate-sector-20190110.htm

January 11, 2019 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update.  www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

January 11, 2019 - 2013 FOMC meeting transcripts, presentation materials, Tealbooks, agendas, and SEP individual projections.  www.federalreserve.gov/monetarypolicy/fomchistorical2013.htm

January 11, 2019 - Record of the Meeting of the Federal Advisory Council and the Board of Governors, December 2018 - The Federal Advisory Council, which is composed of twelve representatives of the banking industry, consults with and advises the Board on all matters within the Board's jurisdiction. www.federalreserve.gov/aboutthefed/fac.htm

January 11, 2019 - Federal Reserve Board announces approval of application by First Busey Corporation.  www.federalreserve.gov/newsevents/pressreleases/orders20190111b.htm 

January 11, 2019 - Regulators encourage institutions to work with borrowers affected by government shutdown.
Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20190111a.htm
Press Release: www.fdic.gov/news/news/press/2019/pr19002.html
Press Release: www.fdic.gov/news/news/financial/2019/fil19001.html
Press Release: www.occ.gov/news-issuances/news-releases/2019/nr-ia-2019-4.html
Press Release: www.ncua.gov/newsroom/press-release/2019/regulators-encourage-institutions-work-borrowers-affected-government-shutdown
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January 11, 2019- Regulators Encourage Institutions to Work with Borrowers Affected by Government Shutdown - Five federal financial institutions regulators and state regulators encourage financial institutions to work with consumers affected by the federal government shutdown. https://www.fdic.gov/news/news/press/2019/pr19002.html

January 10, 2019 - Monetary Policy: Assessing Crosscurrents - A speech presented on January 10, 2019, at the Milwaukee Business Journal Economic Forecast in Milwaukee, WI. www.chicagofed.org/publications/speeches/2019/monteary-policy-assessing-crosscurrents-milwaukee

January 10, 2019 - Emerging Trends in the U.S. and Colorado Economies By Sam Chapman Associate Economist Federal Reserve Bank ofKansas City Denver Branch. www.kansascityfed.org/~/media/files/publicat/speeches/2019/2019-chapman-1stbank-01-09.pdf

January 10, 2019 - Leadership and Membership Announcements for the Federal Reserve Bank of San Francisco’s Salt Lake City Branch Board of Directors - The Federal Reserve Bank of San Francisco announced new Directors by the Board of Governors of the Federal Reserve System. www.frbsf.org/our-district/press/news-releases/2019/leadership-and-membership-announcements-salt-lake-city-branch-board-of-directors-2019/

January 10, 2019 - St. Louis Fed's Bullard Offers Perspectives on 2019 Monetary Policy - Federal Reserve Bank of St. Louis President James Bullard offered “Perspectives on 2019 Monetary Policy” at the Little Rock Regional Chamber’s Power Up Little Rock event on Thursday. www.stlouisfed.org/news-releases/2019/01/10/perspectives-2019-monetary-policy

January 10, 2019 - The Information in Interest Coverage Ratios of the US Nonfinancial Corporate Sector - Francisco Palomino, Stephen Paolillo, Ander Perez-Orive, and Gerardo Sanz-Maldonado - The interest coverage ratio --defined as the ratio of earnings before interest and taxes to interest expenses--is an indicator of the ability of a company to make interest payments using internal cash flows. www.federalreserve.gov/econres/notes/feds-notes/information-in-interest-coverage-ratios-of-the-us-nonfinancial-corporate-sector-20190110.htm

January 10, 2019 - Federal Reserve Board announces Reserve Bank income and expense data and transfers to the Treasury for 2018 - The Federal Reserve Board on Thursday announced preliminary results indicating that the Reserve Banks provided for payments of approximately $65.4 billion of their estimated 2018 net income to the U.S. Treasury. www.federalreserve.gov/newsevents/pressreleases/other20190110a.htm

January 10, 2019 - Federal Reserve Board announces termination of enforcement action with A.E. Bancorp, Inc. www.federalreserve.gov/newsevents/pressreleases/enforcement20190110a.htm

January 9, 2019 - Speech by Vice Chairman for Supervision Randal K. Quarles - Insurance Supervision and International Engagement At the American Council of Life Insurers Executive Roundtable, Naples, Florida.  www.federalreserve.gov/newsevents/speech/quarles20190109a.htm

January 9, 2019 - Symposium Participants Forecast Economy to Grow at Pace Somewhat Above Average in 2019 By William A. Strauss , Kelley Sarussi - According to participants in the Chicago Fed’s annual Economic Outlook Symposium, the U.S. economy is forecasted to grow at a pace somewhat above average in 2019, with inflation ticking down and the unemployment rate remaining low. www.chicagofed.org/publications/chicago-fed-letter/2019/410

January 9, 2019 - Fed’s Evans Discusses Regional Economy and Growth - A speech presented on January 9, 2019, at the Discover Financial Services Company Meeting in Riverwoods, IL. www.chicagofed.org/publications/speeches/2019/monetary-policy-assessing-crosscurrents-discover

January 9, 2019 - National Financial Conditions Index - The Chicago Fed’s National Financial Conditions Index provides a comprehensive weekly update on U.S. financial conditions in money markets, debt and equity markets and the traditional and “shadow” banking systems. www.chicagofed.org/publications/nfci/index

January 9, 2019 - Chau Do Named Deputy Comptroller for the Risk Analysis Division - The Office of the Comptroller of the Currency recently announced Chau Do as Deputy Comptroller for the Risk Analysis Division. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-3.html

January 9, 2019 - Kansas City Fed Announces 2019 Director Election Results And Appointments.   www.kansascityfed.org/~/media/files/publicat/newsroom/2019/pressrelease2019boardsofdirectorsfinaldocx.pdf

January 9, 2019 - Federal Reserve Board announces appointment of the chairs and deputy chairs of the Federal Reserve Banks for 2019.   www.federalreserve.gov/newsevents/pressreleases/other20190109a.htm

January 9, 2019 - Minutes of the Federal Open Market Committee, December 18-19, 2018 - A summary of economic projections made by Federal Reserve Board members and Reserve Bank presidents for the meeting is also included as an addendum to these minutes. www.federalreserve.gov/newsevents/pressreleases/monetary20190109a.htm

January 8, 2019 - NCUA’s Redesigned Websites Offer Users Easier Access, More Information - The public and other stakeholders will now be able to find the information they need more easily with the launch of redesigned versions of NCUA.gov and MyCreditUnion.gov, the National Credit Union Administration announced today. www.ncua.gov/newsroom/press-release/2019/ncuas-redesigned-websites-offer-users-easier-access-more-information

January 8, 2019 - Statistical Release - Consumer Credit - G.19 - In November, consumer credit increased at a seasonally adjusted annual rate of 6-3/4 percent. Revolving credit increased at an annual rate of 5-1/2 percent, while nonrevolving credit increased at an annual rate of 7 percent. www.federalreserve.gov/releases/g19/current/default.htm
 
January 8, 2019 - Household Debt Service and Financial Obligations Ratios - Household debt service payments and financial obligations as a percentage of disposable personal income; seasonally adjusted. www.federalreserve.gov/releases/housedebt/default.htm 

January 8, 2019 - A Simple Macro-Finance Measure of Risk Premia in Fed Funds Futures - Anthony Diercks and Uri Carl - Term premia can contaminate the policy expectations that we derive from Fed Funds Futures while assuming risk neutrality.  www.federalreserve.gov/econres/notes/feds-notes/simple-macro-finance-measure-of-risk-premia-in-fed-funds-futures-20190108.htm

January 8, 2019 - Federal Reserve Board invites public comment on proposal that would modify company-run stress testing requirements to conform with Economic Growth, Regulatory Relief, and Consumer Protection Act - The proposal would raise the threshold requiring state-member banks to conduct their company-run stress tests from $10 billion in total consolidated assets to $250 billion. www.federalreserve.gov/newsevents/pressreleases/bcreg20190108a.htm

January 8, 2019 - Federal Reserve Board issues enforcement action with Commercial State Bank www.federalreserve.gov/newsevents/pressreleases/enforcement20190108a.htm 

January 7, 2019 - Homeowners’ Financial Protection Against Natural Disasters By Alejandro H. Drexler , Andrew Granato , Richard J. Rosen - Over the past few years, many people in the U.S. have had to deal with damage to their homes from natural disasters, such as Hurricane Harvey.  www.chicagofed.org/publications/chicago-fed-letter/2019/409

January 7, 2019 - Catastrophe Bonds: A Primer and Retrospective By Andy Polacek - Since 1997, the catastrophe bond market has provided the insurance industry with protections against natural disasters that have grown more frequent and costly.  www.chicagofed.org/publications/chicago-fed-letter/2018/405

January 7, 2019 - New Year, New Look for NCUA Regions - The National Credit Union Administration begins 2019 with a new regional structure, part of an agency-wide reorganization that began in 2017. The agency completed the headquarters reorganization in 2018, while the consolidation from five to three regional offices is effective January 7, 2019. www.ncua.gov/newsroom/press-release/2019/new-year-new-look-ncua-regions

January 7, 2019 - Community Reinvestment Act Regulations: Revision of Small and Intermediate Small Bank and Savings Association Asset Thresholds - On December 27, 2018, the Office of the Comptroller of the Currency published in the Federal Register revisions to its Community Reinvestment Act regulations that became effective January 1, 2019. www.occ.treas.gov/news-issuances/bulletins/2019/bulletin-2019-1.html

January 7, 2019 - Federal Reserve Bank of Kansas City announces officer promotion and appointments - Federal Reserve Bank of Kansas City President and Chief Executive Officer Esther George recently announced the following organizational changes: www.kansascityfed.org/~/media/files/publicat/newsroom/2019/release_dec18promotions%20-%20copy.pdf

January 4, 2019 - James H. Herbert, II, Reappointed to the Federal Advisory Council - The Federal Reserve Bank of San Francisco’s board of directors has reappointed James H. Herbert, II, chairman and CEO (Founder) of First Republic Bank, to represent the District on the Federal Advisory Council beginning January 1, 2019. www.frbsf.org/our-district/press/news-releases/2019/james-h-herbert-ii-reappointed-to-the-federal-advisory-council/

January 4, 2019 - Membership Appointments Announced for the Federal Reserve Bank of San Francisco’s Community Depository Institutions Advisory Council - The Federal Reserve Bank of San Francisco announced that Russell A. Colombo, president and CEO, Bank of Marin, Novato, CA; James J. Schlotfeldt, president and CEO, First Federal Savings & Loan, McMinnville, OR; Janet M. Silveria, president and CEO, Community Bank of Santa Maria, Santa Maria, CA; Richard F. Wacker, president and CEO, American Savings Bank, Honolulu, HI; and Mina R. Worthington, president and CEO, Solarity Credit Union, Yakima, WA, have been appointed as the newest members of the Twelfth District’s Community Depository Institutions Advisory Council. www.frbsf.org/our-district/press/news-releases/2019/membership-appointments-community-depository-institutions-advisory-council-2019/

January 4, 2019 - Membership Appointments Announced for the Federal Reserve Bank of San Francisco’s Economic Advisory Council - The Federal Reserve Bank of San Francisco announced that Kristin Reinke, vice president, head of finance and treasurer, Google Foundation, Mountain View, CA, has been appointed to the Bank’s Economic Advisory Council. www.frbsf.org/our-district/press/news-releases/2019/membership-appointments-economic-advisory-council-2019/

January 4, 2019 - FOIA - Chairman Powell's calendar, November 2018.  www.federalreserve.gov/foia/chairmanscalendar-112018.htm

January 4, 2019 - Household and Nonprofit Balance Sheets in the Financial Accounts of the United States - Elizabeth Holmquist - This Note describes new supplemental tables in the Financial Accounts of the United States that provide separate balance sheets for households and nonprofit organizations. www.federalreserve.gov/econres/notes/feds-notes/household-and-nonprofit-balance-sheets-in-the-financial-accounts-of-the-us-20190104.htm
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January 3, 2019 - Detroit Employees Efforts Recognized by United Way - When it comes to volunteerism, our Detroit Branch really takes it to heart. Our Detroit employees have such a commitment that there are often more employees available than are needed for a particular opportunity. www.chicagofed.org/utilities/about-us/csr/volunteerism

January 3, 2019 - OCC Releases CRA Evaluations for 31 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 December 1, 2018 through December 31, 2018. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-2.html

January 3, 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. The list covers evaluation ratings that the FDIC assigned to institutions in October 2018. www.fdic.gov/news/news/press/2019/pr19001.html

January 2, 2019 - OCC Releases 2019 Schedule of Workshops for Directors and Senior Management of National Community Banks and Federal Savings Associations - The Office of the Comptroller of the Currency today announced its 2019 schedule of workshops for board directors and bank management of national community banks and federal savings associations. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-1.html

January 2, 2019 - Statistical Release - Foreign Exchange Rates - G.5 - The table below shows the average rates of exchange in DECEMBER 2018 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

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