The E-mail Banking News
(Bank Regulatory News)

July 2018

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.

July 12, 2018 - Federal Reserve Board issues enforcement actions and announces termination of enforcement action.   www.federalreserve.gov/newsevents/pressreleases/enforcement20180712a.htm

July 12, 2018 - Emerging Trends in the Wyoming Economy By Alison Felix Economist and Branch Executive Federal Reserve Bank of Kansas City Denver Branch.   www.kansascityfed.org/~/media/files/publicat/speeches/2018/2018-felix-casperforum-07-11%20final.pdf

July 11, 2018 - The KC Fed LMCI suggest the level of activity declined and momentum remained high in June - The level of activity indicator declined in June from 0.91 to 0.77, while the momentum indicator accelerated from 1.18 to 1.44. www.kansascityfed.org/~/media/files/publicat/research/indicatorsdata/lmci/2018/lmci_071118.pdf

July 11, 2018 - Interagency Forms: Implementation of Updated Interagency Forms - The FDIC is implementing revisions to currently approved interagency forms, based on the recommendations of an interagency working group comprised of representatives from the FDIC, the Board of Governors of the Federal Reserve System, and the Office of the Comptroller of the Currency. www.fdic.gov/news/news/financial/2018/fil18038.html

July 10, 2018 - OCC Hosts Risk Governance and Credit Risk Workshops in St. Louis - The Office of the Comptroller of the Currency will host two workshops at the Magnolia Hotel St. Louis in St. Louis, Mo., August 21-22, for directors of national community banks and federal savings associations supervised by the OCC. www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-72.html

July 10, 2018 - OCC's Minority Depository Institutions Advisory Committee Charter Renewed - The Office of the Comptroller of the Currency has renewed the charter of its Minority Depository Institutions Advisory Committee, which advises the agency on issues and opportunities facing minority depository institutions. www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-71.html

July 10, 2018 - Regulatory Relief - Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Texas Affected by Severe Storms and Flooding - The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Texas affected by severe storms and flooding. www.fdic.gov/news/news/financial/2018/fil18037.html

July 10, 2018 - FRB/US model packages - The main FRB/US model package is a self-contained set of equations, data, programs and documentation that enables various types of simulations and provides information about the model's structure. www.federalreserve.gov/econres/us-models-package.htm

July 10, 2018 - Statistical Release - Structure and Share Data for U.S. Banking Offices of Foreign Entities.  www.federalreserve.gov/releases/iba/201803/default.htm

July 10, 2018 - February 2016 (Revised July 2018) Heterogeneity and Unemployment Dynamics - Hie Joo Ahn and James D. Hamilton - This paper develops new estimates of flows into and out of unemployment that allow for unobserved heterogeneity across workers as well as direct effects of unemployment duration on unemployment-exit probabilities. www.federalreserve.gov/econres/feds/files/2016012r1pap.pdf

July 10, 2018 - Self-confirming Price Dispersion in Monetary Economies - Garth Baughman and Steven Rabinovich - In a monetary economy, we show that price dispersion arises as an equilibrium outcome without the need for costly simultaneous search or any heterogeneity in preferences, production costs, or search technologies. www.federalreserve.gov/econres/feds/files/2018046pap.pdf

July 10, 2018 - The Local Impact of Containerization -Leah Brooks, Nicolas Gendron-Carrier, and Gisela Rua - We investigate how containerization impacts local economic activity. Containerization is premised on a simple insight: packaging goods for waterborne trade into a standardized container makes them dramatically cheaper to move. www.federalreserve.gov/econres/feds/files/2018045pap.pdf

July 10, 2018 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at on July 10, 2018. Matter(s) considered: Proposed Semiannual Monetary Policy Report and Statement to the Congress. www.federalreserve.gov/aboutthefed/boardmeetings/20180710closed.htm

July 10, 2018 - Minutes of the Board's discount rate meetings from June 4 and June 13, 2018.  www.federalreserve.gov/newsevents/pressreleases/monetary20180710a.htm

July 9, 2018 - OCC Hosts Mutual Savings Association Advisory Committee Meeting on July 24 - The Office of the Comptroller of the Currency will host a public meeting of the Mutual Savings Association Advisory Committee Tuesday, July 24, 2018, beginning at 1:00 p.m. Eastern Daylight Time. www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-70.html

July 9, 2018 - Statistical Release - Consumer Credit - G.19 - In May, consumer credit increased at a seasonally adjusted annual rate of 7-1/2 percent. Revolving credit increased at an annual rate of 11-1/2 percent, while nonrevolving credit increased at an annual rate of 6-1/4 percent. www.federalreserve.gov/releases/g19/current/default.htm

July 9, 2018 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at 11:00 a.m. on July 9, 2018. 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/20180709closed.htm

July 9, 2018 - Federal Reserve Board announces approval of application by Lloyds Bank Corporate Markets plc.  www.federalreserve.gov/newsevents/pressreleases/orders20180709a.htm

July 6, 2018 - Determinants of Housing Values and Variations in Home Prices Across Neighborhoods in Cook County By Maude Toussaint-Comeau , Jin Man Lee - From 2007 to 2009, the U.S. underwent one of the worst recessions in its history, a recession triggered by an unprecedented, international financial crisis that resulted from institutional portfolio concentration in securities backed by home mortgages, and the collapse of that securities market. www.chicagofed.org/publications/profitwise-news-and-views/2018/determinants-of-housing-values-and-variations-in-home-prices-across-neighborhoods-in-cook-county

July 6, 2018 - Advanced Notice of a Meeting under Expedited Procedures
A closed meeting of the Board of Governors of the Federal Reserve System will be held under expedited procedures at 11:00 a.m. on July 10, 2018. Matter(s) considered: Proposed Semiannual Monetary Policy Report and Statement to the Congress. www.federalreserve.gov/aboutthefed/boardmeetings/20180710closed.htm
 
July 6, 2018 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update.  www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

July 6, 2018 - Federal Reserve Board issues statement describing how, consistent with recently enacted EGRRCPA, the Board will no longer subject primarily smaller, less complex banking organizations to certain Board regulations - Consistent with the recently enacted Economic Growth, Regulatory Relief, and Consumer Protection Act, the Federal Reserve Board on Friday issued a statement describing how the Board will no longer subject primarily smaller, less complex banking organizations to certain Board regulations, including those relating to stress testing and liquidity. www.federalreserve.gov/newsevents/pressreleases/bcreg20180706b.htm 

July 6, 2018 - Agencies issue statement regarding the impact of the Economic Growth, Regulatory Relief, and Consumer Protection Act - Federal banking agencies today issued a statement detailing rules and associated reporting requirements that are immediately affected by the enactment of the Economic Growth, Regulatory Relief, and Consumer Protection Act
Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20180706a.htm
Press Release: www.fdic.gov/news/news/press/2018/pr18044.html
Press Release: www.occ.gov/news-issuances/news-releases/2018/nr-ia-2018-69.html

July 5, 2018 - Minutes of the Federal Open Market Committee, June 12-13, 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/monetary20180705a.htm

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

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


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