R. Kinney Williams - Yennik, Inc.®
R. Kinney Williams
Yennik, Inc.

The Community Banker
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The E-mail Banking News
(Bank Regulatory News)

July 201
7

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/.

July 18, 2017 - A New Era of Community Banking - By Michael Austin , Marshall Eckblad , Courtney Markovich , Jacqunette Murray , Wade Perry , Nick Strok , Terri Woodford - The 11th annual Community Bankers Symposium, cosponsored by the Federal Reserve Bank of Chicago, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency, was held at the Chicago Fed on November 18, 2016. This article summarizes key presentations and discussions at the event. www.chicagofed.org/publications/chicago-fed-letter/2017/383

July 18, 2017 - FDIC Revises Supervisory Appeals Guidelines - The Federal Deposit Insurance Corporation on Tuesday revised its guidelines for appeals of certain material supervisory determinations to expand the circumstances under which banks may appeal a material supervisory determination and enhance consistency with the appeals processes of other federal banking agencies. www.fdic.gov/news/news/press/2017/pr17054.html

July 17, 2017 - Notice of a Meeting under Expedited Procedures- A closed meeting of the Board of Governors of the Federal Reserve System was held at 12:00 p.m. on July 17, 2017. 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/20170717closed.htm

July 17, 2017 - Federal Reserve Board announces $246 million fine against BNP Paribas S.A. and certain of its U.S. subsidiaries for unsafe and unsound practices. www.federalreserve.gov/newsevents/pressreleases/enforcement20170717a.htm

July 14, 2017 - Female Labor Supply and Why Women Need to Be Included in Economic Models - By Mariacristina De Nardi , Sharada Dharmasankar - Women contribute a large fraction of aggregate labor hours, earnings, and labor force participation. Yet, many models used to study the effects of government policy ignore gender differences and use data on men only. www.chicagofed.org/publications/chicago-fed-letter/2017/380

July 14, 2017 - Outcome-Based Monetary Policy - A speech prepared for the Global Interdependence Center in Victor, ID, on July 13, 2017.  www.chicagofed.org/publications/speeches/2017/07-13-17-outcome-based-monetary-policy-global-interdependence-center

July 14, 2017 - Consumer Scam Alert: Do Not Use Federal Reserve Routing Account Numbers to Pay Bills; Could Face Late Fees, Other Charges - Recently, the Federal Reserve Banks have received a number of unauthorized transactions in which consumers have tried to use the Fed's routing numbers and their Social Security numbers to pay their bills. www.frbatlanta.org/news/pressreleases/atlantafed/2017/0712-consumer-scam-alert-fr-routing-numbers

July 14, 2017 - The Burden of Taxation in the United States and Germany - By Lorenz J. Jarass , Anthony E. Tokman , Mark L. J. Wright - After 35 years without significant changes to the federal tax code in the United States, tax reform is back on the legislative agenda. www.chicagofed.org/publications/chicago-fed-letter/2017/382

July 14, 2017 - St. Louis Fed Analysis Examines Homeowner Equity and the Racial Wealth Divide over Time - The housing market collapse affected millions of American families across the country, but it hit black and Latino families especially hard because so much of their wealth was tied up in housing, according to analysis in the latest edition of the St. Louis Fed’s Housing Market Perspectives report. www.stlouisfed.org/news-releases/2017/07/st-louis-fed-analysis-examines-homeowner-equity-and-the-racial-wealth-divide-over-time

July 14, 2017 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at 10:00 a.m. on July 14, 2017. Matter(s) considered: Periodic Briefing and Discussion on Financial Markets, Institutions, and Infrastructure. www.federalreserve.gov/aboutthefed/boardmeetings/20170714closed.htm

July 14, 2017 - Industrial Production and Capacity Utilization - G.17 - Industrial production rose 0.4 percent in June for its fifth consecutive monthly increase. Manufacturing output moved up 0.2 percent; although factory output has gone up and down in recent months, its level in June was little different from February www.federalreserve.gov/releases/g17/Current/default.htm
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July 13, 2017 - OCC Reports Improved Mortgage Performance in First Quarter of 2017 - Performance of first-lien mortgages improved during the first quarter of 2017 compared with a year earlier, according to the Office of the Comptroller of the Currency’s quarterly report on mortgages. www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-80.html

July 13, 2017 - Consolidated Reports of Condition and Income -The Consolidated Reports of Condition and Income for the June 30, 2017, report date must be submitted to the agencies' Central Data Repository by Sunday, July 30, 2017. www.fdic.gov/news/news/financial/2017/fil17028.html

July 13, 2017 - Speech by Governor Brainard on cross-border spillovers of balance sheet normalization At the National Bureau of Economic Research’s Monetary Economics Summer Institute, New York, New York.  www.federalreserve.gov/newsevents/speech/brainard20170713a.htm

July 12, 2017 - Chicago Fed Survey of Business Conditions - Survey shows growth picked up in late May and June - The Chicago Fed Survey of Business Conditions Activity Index increased to +1 from –8, suggesting that growth in economic activity picked up to a moderate pace in late May and June. www.chicagofed.org/~/media/publications/cfsbc/2017/cfsbc-july2017-pdf.pdf

July 12, 2017 - NCUA - Board Re-Schedules July Closed Meeting - The National Credit Union Administration Board has re-scheduled its July closed meeting. - July closed meeting will be held Wednesday, July 19, beginning at 3 p.m. Eastern. www.ncua.gov/newsroom/Pages/news-2017-july-closed-board-meeting-agenda.aspx

July 12, 2017 - Fed Balance Sheet 1011 - Remarks by Esther L. George President and Chief Executive Officer Federal Reserve Bank of Kansas City.   www.kansascityfed.org/~/media/files/publicat/speeches/2017/2017-george-denver-07-12.pdf

July 12, 2017 - Consolidated Reports of Condition and Income for Second Quarter 2017 - The attached materials pertain to the Consolidated Reports of Condition and Income for the June 30, 2017, report date.  www.fdic.gov/news/news/financial/2017/fil17027.html

July 12, 2017 - Beige Book - Informal review by the Federal Reserve Banks of current economic conditions in their Districts - Commonly known as the Beige Book, this report is published eight times per year. www.federalreserve.gov/monetarypolicy/beige-book-default.htm

July 12, 2017 - Advanced Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System will be held at 10:00 a.m. on July 14, 2017. Matter(s) considered: Periodic Briefing and Discussion on Financial Markets, Institutions, and Infrastructure. www.federalreserve.gov/aboutthefed/boardmeetings/20170714closed.htm

July 12, 2017 - Testimony by Chair Janet L. Yellen - Semiannual Monetary Policy Report to the Congress - Before the Committee on Financial Services, U.S. House of Representatives, Washington, D.C. www.federalreserve.gov/newsevents/testimony/yellen20170712a.htm

July 11, 2017 - OCC Hosts Kansas City Workshop for Board Directors and Bank Management - The Office of the Comptroller of the Currency will host a workshop in Kansas City, Mo., at the Westin Kansas City at Crown Center, August 28-30, 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/2017/nr-occ-2017-79.html

July 11, 2017 - Speech by Governor Brainard on cross-border spillovers of balance sheet normalization.  www.federalreserve.gov/newsevents/speech/brainard20170711a.htm

July 11, 2017 - Minutes of the Board's discount rate meetings from June 5 and June 14, 2017.  www.federalreserve.gov/newsevents/pressreleases/files/monetary20170711a1.pdf

July 10, 2017 - FDIC Seeks Comment on Manual for Processing Deposit Insurance Applications - FDIC is seeking public comment on a procedures manual developed to assist FDIC staff as they evaluate and process deposit insurance applications. www.fdic.gov/news/news/financial/2017/fil17026.html

July 10, 2017 - FDIC Announces Meeting of Advisory Committee on Community Banking - The Federal Deposit Insurance Corporation today announced that it will hold a meeting of the Advisory Committee on Community Banking on Wednesday, July 12. Senior staff will discuss and provide updates on supervisory issues such as liquidity risk, de novo applications, appraisals, Call Reports, capital and examination processes. www.fdic.gov/news/news/press/2017/pr17053.html

July 10, 2017 - FDIC Releases and Seeks Comment on Manual for Processing Deposit Insurance Applications - The Federal Deposit Insurance Corporation today announced it is releasing and seeking public comment on a procedures manual developed to assist FDIC staff as they evaluate and process deposit insurance applications. https://www.fdic.gov/news/news/press/2017/pr17052.html 

July 10, 2017 - Statistical Release - Consumer Credit - G.19 - In May, consumer credit increased at a seasonally adjusted annual rate of 5-3/4 percent. Revolving credit increased at an annual rate of 8-3/4 percent, while nonrevolving credit increased at an annual rate of 4-3/4 percent. www.federalreserve.gov/releases/g19/current/default.htm

July 10, 2017 - Trading Activities at Systemically Important Banks, Part 3: What Drives Trading Performance? - Diana Iercosan, Ashish Kumbhat, Michael Ng, and Jason Wu - It is well known by now that before the financial crisis, systemically important banks and nonbank broker-dealers maintained large proprietary trading operations and had relied on those operations as a key source of trading revenue, in addition to revenue generated by facilitating clients' trading needs. www.federalreserve.gov/econres/notes/feds-notes/trading-activities-at-systemically-important-banks-part-3-what-drives-trading-performance-20170710.htm

July 10, 2017 - Trading Activities at Systemically Important Banks, Part 2: What Happened during Recent Risk Events? - Diana Iercosan, Ashish Kumbhat, Michael Ng, and Jason Wu - As documented in the FEDS Notes article "Trading Activities at Systemically Important Banks. www.federalreserve.gov/econres/notes/feds-notes/trading-activities-at-systemically-important-banks-part-2-what-happened-during-recent-risk-events-20170710.htm

July 10, 2017 - Trading Activities at Systemically Important Banks, Part 1: Recent Trends in Trading Performance - Diana Iercosan, Ashish Kumbhat, Michael Ng, and Jason Wu - Trading and market-making activities are a key line of business for systemically important banks and are essential to the functioning of capital markets. www.federalreserve.gov/econres/notes/feds-notes/trading-activities-at-systemically-important-banks-part-1-recent-trends-in-trading-performance-20170710.htm

July 07, 2017 - OCC Report Highlights Risks Facing National Banks and Federal Savings Associations - The Office of the Comptroller of the Currency today reported strategic, credit, operational, and compliance risks remain top concerns for the federal banking system in its Semiannual Risk Perspective for Spring 2017. www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-78.html

July 07, 2017 - Interest Rate Volatility and Sudden Stops: An Empirical Investigation - Ricardo Reyes-Heroles and Gabriel Tenorio - Using a multi-country regime-switching vector autoregressive model we document the existence of two regimes in the volatility of interest rates at which emerging economies borrow from international financial markets, and study the statistical relationship of such regimes with episodes of sudden stops. www.federalreserve.gov/econres/ifdp/files/ifdp1209.pdf

July 07, 2017 - FOIA - Chair Yellen's calendar, May 2017.  www.federalreserve.gov/foia/chairscalendar-052017.htm

July 07, 2017 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

July 07, 2017 - Report to the Congress - Monetary Policy Report - The Federal Reserve Act requires the Federal Reserve Board to submit written reports to Congress containing discussions of "the conduct of monetary policy and economic developments and prospects for the future." www.federalreserve.gov/monetarypolicy/mpr_default.htm

July 07, 2017 - The Impact of Price Controls in Two-sided Markets: Evidence from US Debit Card Interchange Fee Regulation - Mark D. Manuszak and Krzysztof Wozniak - We study the pricing of deposit accounts following a regulation that capped debit card interchange fees in the United States and provide the first empirical investigation of the link between interchange fees and granular deposit account prices. www.federalreserve.gov/econres/feds/files/2017074pap.pdf

July 07, 2017 - How Effective is Monetary Policy at the Zero Lower Bound? Identification Through Industry Heterogeneity - Arsenios Skaperdas - Abstract: US monetary policy was constrained from 2008 to 2015 by the zero lower bound, during which the Federal Reserve would likely have lowered the federal funds rate further if it were able to. www.federalreserve.gov/econres/feds/files/2017073pap.pdf

July 07, 2017 - Federal Reserve Board announces approval of application by Veritex Holdings, Inc. - The Federal Reserve Board on Friday announced its approval of the application under section 3 of the Bank Holding Company Act of 1956 by Veritex Holdings, Inc., to merge with Sovereign Bancshares, Inc., and thereby indirectly acquire Sovereign Bank, all of Dallas, Texas. www.federalreserve.gov/newsevents/pressreleases/orders20170707a.htm
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July 06, 2017 - Federal Reserve Board appoints Mark E. Van Der Weide as general counsel - Mr. Van Der Weide will succeed Scott G. Alvarez, who announced in February his intention to retire after nearly 36 years of service to the Federal Reserve Board, including more than 12 years as head of the Legal Division. www.federalreserve.gov/newsevents/pressreleases/other20170706a.htm

July 06, 2017 - Speech by Governor Powell on the case for housing finance reform At the American Enterprise Institute, Washington, D.C. www.federalreserve.gov/newsevents/speech/powell20170706a.htm

July 06, 2017 - Post-Crisis Lending by Large Bank Holding Companies - Cindy M. Vojtech - This note analyzes recent trends in loan growth at domestic bank holding companies and reviews factors related to bank loan growth such as capital and loan write-downs. www.federalreserve.gov/econres/notes/feds-notes/post-crisis-lending-by-large-bank-holding-companies-20170706.htm

July 05, 2017 - General Policies and Procedures: Revised Comptroller's Licensing Manual Booklet - The Office of the Comptroller of the Currency (OCC) issued today the “General Policies and Procedures” booklet of the Comptroller’s Licensing Manual. www.occ.treas.gov/news-issuances/bulletins/2017/bulletin-2017-25.html

July 05, 2017 - OCC Hosts Mutual Savings Association Advisory Committee Meeting July 25 - The Office of the Comptroller of the Currency today announced it will host a public meeting of the Mutual Savings Association Advisory Committee on Tuesday, July 25, 2017, beginning at 8:30 a.m. Eastern Daylight Time. www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-77.html

July 05, 2017 - OCC Releases CRA Evaluations for 25 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 June 1, 2017 through June 30, 2017. www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-76.html

July 05, 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. - The list covers evaluation ratings that the FDIC assigned to institutions in April 2017. https://www.fdic.gov/news/news/press/2017/pr17050.html

July 05, 2017 - Joint Release/Agencies Post Public Sections of Resolution Plans - The Federal Reserve Board and the Federal Deposit Insurance Corporation on Wednesday posted the public portions of annual resolution plans for eight large financial firms.  www.fdic.gov/news/news/press/2017/pr17051.html

July 05, 2017 - Interest Rate Volatility and Sudden Stops: An Empirical Investigation - Ricardo Reyes-Heroles and Gabriel Tenorio - Using a multi-country regime-switching vector autoregressive model we document the existence of two regimes in the volatility of interest rates at which emerging economies borrow from international financial markets, and study the statistical relationship of such regimes with episodes of sudden stops. www.federalreserve.gov/econres/ifdp/files/ifdp1209.pdf

July 05, 2017 - Agencies post public sections of resolution plans; announce deadline extension for two non-bank financial firms - Resolution plans, required by the Dodd-Frank Act and commonly known as living wills, must describe the company’s strategy for rapid and orderly resolution under bankruptcy in the event of material financial distress or failure of the company. www.federalreserve.gov/newsevents/pressreleases/bcreg20170705a.htm

July 05, 2017 - Minutes of the Federal Open Market Committee, June 13-14, 2017 - The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on June 13-14, 2017.  www.federalreserve.gov/newsevents/pressreleases/monetary20170705a.htm

July 03, 2017 - OCC Reports First Quarter 2017 Bank Trading Revenue Increased to $7.1 Billion - Trading revenue of U.S. commercial banks and savings associations increased to $7.1 billion in the first quarter 2017, $1.5 billion, or 26 percent, higher than the first quarter a year earlier, according to a report released today by the Office of the Comptroller of the Currency. www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-75.html

July 03, 2017 - Statistical Release - Minority-Owned Depository Institutions.  www.federalreserve.gov/releases/mob/current/default.htm

July 03, 2017 - Statistical Release - Large Commercial Banks.  www.federalreserve.gov/releases/lbr/current/default.htm

July 03, 2017 - Statistical Release - Foreign Exchange Rates - G.5 - The table below shows the average rates of exchange in JUNE 2017 together with comparable figures for other months. www.federalreserve.gov/releases/g5/current/default.htm

July 03, 2017 - The Systemic Nature of Settlement Fails - Rajkamal Iyer and Marco Macchiavelli - In this note we analyze the systemic nature of settlement fails – the failure to deliver the agreed upon securities – during the 2007-09 period. www.federalreserve.gov/econres/notes/feds-notes/the-systemic-nature-of-settlement-fails-20170703.htm
 
July 03, 2017 - Federal Reserve Chair Janet L. Yellen was treated at King Edward VII hospital in London over the weekend - Federal Reserve Chair Janet L. Yellen was treated at King Edward VII hospital in London over the weekend for a urinary tract infection. She was admitted Friday and released Monday. www.federalreserve.gov/newsevents/pressreleases/other20170703a.htm

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