IT audits - I am performing FFIEC IT 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.

July 31, 2023 - NCUA Prohibits One Individual from Participating in the Affairs of Any Federally Insured Depository Institution.  https://ncua.gov/newsroom/press-release/2023/ncua-prohibits-one-individual-participating-affairs-any-federally-insured-depository-institution-0

July 31, 2023 - Sticky Leverage: Comment - Andrea Ajello, Ander Perez-Orive, and Bálint Szőke - We revisit the role of long-term nominal corporate debt for the transmission of inflation shocks in the general equilibrium model of Gomes, Jermann, and Schmid. www.federalreserve.gov/econres/feds/sticky-leverage-comment.htm

July 31, 2023 - Senior Loan Officer Opinion Survey on Bank Lending Practices, July 2023 - Survey of up to eighty large domestic banks and twenty-four U.S. branches and agencies of foreign banks. www.federalreserve.gov/data/sloos.htm

July 31, 2023 - Disclosure Regulation, Intangible Capital and the Disappearance of Public Firms - Sara Casella, Hanbaek Lee, Sergio Villalvazo - Since the mid-1990s, the number of listed firms in the U.S. has halved, and their public disclosure has become opaquer. www.federalreserve.gov/econres/feds/disclosure-regulation-intangible-capital-and-the-disappearance-of-public-firms.htm

July 28, 2023 - Yonkers Postal Employees Credit Union Conserved - The New York State Department of Financial Services today placed Yonkers Postal Employees Credit Union in Yonkers, New York, into conservatorship and appointed the National Credit Union Administration as conservator. https://ncua.gov/newsroom/press-release/2023/yonkers-postal-employees-credit-union-conserved

July 28, 2023 - Liquidity: Addendum to the Interagency Policy Statement on Funding and Liquidity Risk Management - The Office of the Comptroller of the Currency, Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, and National Credit Union Administration are issuing an addendum to the “Interagency Policy Statement on Funding and Liquidity Risk Management” issued March 22, 2010. www.occ.gov/news-issuances/bulletins/2023/bulletin-2023-25.html

July 28, 2023 - Acting Comptroller Issues Statement at Financial Stability Oversight Council Meeting on Climate-Related Financial Risk.  www.occ.gov/news-issuances/news-releases/2023/nr-occ-2023-81.html

July 28, 2023 - Tenth District Services Activity Stayed Steady in July - District services activity stayed steady in July. Firms expect revenues to grow and employment activity to moderate in the future. www.kansascityfed.org/surveys/services-survey/tenth-district-services-activity-stayed-steady-in-july/

July 28, 2023 - Updated Guidance: Interagency Policy Statement on Funding and Liquidity Risk Management on the Importance of Contingency Funding Plans - The events of 2023 have underscored the importance of robust liquidity risk management and contingency funding planning. www.fdic.gov/news/financial-institution-letters/2023/fil23039.html

July 28, 2023 - Dream First Bank, National Association, of Syracuse, Kansas, Assumes All of the Deposits of Heartland Tri-State Bank of Elkhart, Kansas.  www.fdic.gov/news/press-releases/2023/pr23058.html

July 28, 2023 - FDIC Makes Public June Enforcement Actions - he Federal Deposit Insurance Corporation today released a list of orders of administrative enforcement actions taken against banks and individuals in June 2023. www.fdic.gov/news/press-releases/2023/pr23056.html

July 28, 2023 - Publication - Consumer & Community Context - Consumer & Community Context features analysis about the financial conditions and experiences of consumers and communities, including traditionally underserved and economically vulnerable households and neighborhoods. www.federalreserve.gov/publications/consumer-community-context.htm

July 28, 2023 - Empirical assessment of SR/CA small-dollar lending letter impact - Daniel Gorin, Sarah Gosky, and Michael Suher - Guidance is used by bank regulators to communicate supervisory expectations to both examiners and banks. www.federalreserve.gov/econres/notes/feds-notes/empirical-assessment-of-sr-ca-small-dollar-lending-letter-impact-20230728.html

July 28, 2023 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update.  www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

July 28, 2023 - Why Does the Yield Curve Predict GDP Growth? The Role of Banks - Camelia Minoiu, Andres Schneider, Min Wei - We provide evidence on the effect of the slope of the yield curve on economic activity through bank lending. www.federalreserve.gov/econres/feds/why-does-the-yield-curve-predict-gdp-growth-the-role-of-banks.htm

July 28, 2023 - What determines passthrough of policy rates to deposit rates in the euro area? - Todd Messer and Friederike Niepmann - Interest rates on bank deposits are sticky and move only sluggishly following changes in central bank policy rates. www.federalreserve.gov/econres/notes/feds-notes/what-determines-passthrough-of-policy-rates-to-deposit-rates-in-the-euro-area-20230728.html

July 28, 2023 - Your Friends, Your Credit: Social Capital Measures Derived from Social Media and the Credit Market - Jesse Bricker and Geng Li - Chetty et al. (2022a) introduced an array of social capital measures derived from Facebook friendships and found that one of these indicators, economic connectedness, predicted upward income mobility well. www.federalreserve.gov/econres/feds/your-friends-your-credit-social-capital-measures-derived-from-social-media-and-the-credit-market.htm

July 28, 2023 - The Persistent Urban Shortfall in Leisure and Hospitality Employment - Brendan J. Chapuis, Seth Murray, and Brendan M. Price1 - As a high-contact service sector with limited capacity for remote work, the US leisure and hospitality sector - which includes restaurants, bars, hotels, museums, and movie theaters - was hit particularly hard by the COVID-19 pandemic. www.federalreserve.gov/econres/notes/feds-notes/the-persistent-urban-shortfall-in-leisure-and-hospitality-employment-20230728.html

July 28, 2023 - Agencies update guidance on liquidity risks and contingency planning - The updated guidance highlights that depository institutions should regularly evaluate and update their contingency funding plans.
Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20230728a.htm
Press Release: www.fdic.gov/news/press-releases/2023/pr23057.html
Press Release: www.occ.gov/news-issuances/news-releases/2023/nr-ia-2023-82.html
Press Release: https://ncua.gov/newsroom/press-release/2023/agencies-update-guidance-liquidity-risks-and-contingency-planning

July 27, 2023 - Notice of Proposed Interagency Rulemaking on Amendments to the Regulatory Capital Rule Applicable to Large Banking Organizations and to Banking Organizations with Significant Trading Activity. 
www.fdic.gov/news/financial-institution-letters/2023/fil23038.html
www.occ.gov/news-issuances/bulletins/2023/bulletin-2023-24.html

July 27, 2023 - Legal Interpretations - Bank Holding Company Act, July 5, 2023.  www.federalreserve.gov/supervisionreg/legalinterpretations/bhc_changeincontrol2023.htm

July 27, 2023 - Federal Reserve Board announces the individual capital requirements for all large banks, effective on October 1.   www.federalreserve.gov/newsevents/pressreleases/bcreg20230727b.htm

July 27, 2023 - Agencies request comment on proposed rules to strengthen capital requirements for large banks - The proposal would modify large bank capital requirements to better reflect underlying risks and increase the consistency of how banks measure their risks.
Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20230727a.htm
Press Release: www.fdic.gov/news/press-releases/2023/pr23055.html
Press Release: www.occ.gov/news-issuances/news-releases/2023/nr-ia-2023-80.html
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July 27, 2023 - Acting Comptroller Issues Statement in Support of Notice of Proposed Rulemaking to Strengthen Capital Requirements for Large Banks.  www.occ.gov/news-issuances/news-releases/2023/nr-occ-2023-79.html

July 27, 2023 - Tenth District Manufacturing Activity Continued to Decline in July - Regional factory activity continued to decline in July. District production decreased moderately, while employment activity picked up slightly and is expected to increase further. www.kansascityfed.org/surveys/manufacturing-survey/tenth-district-manufacturing-activity-continued-to-decline-in-july/

July 27, 2023 - Notice of Proposed Interagency Rulemaking on Amendments to the Regulatory Capital Rule Applicable to Large Banking Organizations and to Banking Organizations with Significant Trading Activity.  www.fdic.gov/news/financial-institution-letters/2023/fil23038.html

July 26, 2023 - Federal Reserve issues FOMC statement - Recent indicators suggest that economic activity has been expanding at a moderate pace. www.federalreserve.gov/newsevents/pressreleases/monetary20230726a.htm

July 25, 2023 - OCC Assesses $15 Million Civil Money Penalty Against American Express National Bank Related to Bank's Governance and Oversight of Third-Party Affiliate.   www.occ.gov/news-issuances/news-releases/2023/nr-occ-2023-78.html

July 25, 2023 - Money Stock Measures - H.6 Release. www.federalreserve.gov/releases/h6/current/default.htm

July 24, 2023 - Estimated Uninsured Deposits Reporting Expectations - The FDIC observed that some insured depository institutions are not reporting estimated uninsured deposits in accordance with the instructions to the Consolidated Reports of Condition and Income. www.fdic.gov/news/financial-institution-letters/2023/fil23037.html

July 24, 2023 - Federal Reserve Board announces a consent order and a $268.5 million fine with UBS Group AG, of Zurich, Switzerland, for misconduct by Credit Suisse, which UBS subsequently acquired in June 2023.  www.federalreserve.gov/newsevents/pressreleases/enforcement20230724a.htm

July 21, 2023 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

July 20, 2023 - OCC Hosts Risk Governance and Capital Markets Workshops in Cincinnati - The Office of the Comptroller of the Currency will host two workshops August 8-9 in Cincinnati for directors, senior management, and other key executives of national community banks and federal savings associations. www.occ.gov/news-issuances/news-releases/2023/nr-occ-2023-76.html

July 20, 2023 - Acting Comptroller of the Currency Michael J. Hsu today discussed the role of national banks and federal savings associations in delivering capital and other financial services to support economic development, housing, and other needs in Indian Country in remarks prepared for delivery at the Financial Literacy and Education Commission meeting. www.occ.gov/news-issuances/news-releases/2023/nr-occ-2023-77.html
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July 20, 2023 - OCC Enforcement Actions and Terminations - The Office of the Comptroller of the Currency today released new enforcement actions taken against national banks, federal savings associations, and individuals currently and formerly affiliated with national banks and federal savings associations. www.occ.gov/news-issuances/news-releases/2023/nr-occ-2023-75.html

July 20, 2023 - Federal Reserve announces that its new system for instant payments, the FedNow� Service, is now live - Banks and credit unions of all sizes can sign up and use this tool to instantly transfer money for their customers, any time of the day, on any day of the year.   https://www.federalreserve.gov/newsevents/pressreleases/other20230720a.htm 

July 20, 2023 - NCUA Board Approves Final Member Expulsion Rule - The National Credit Union Administration Board held its seventh open meeting of 2023 and approved a final rule on member expulsion. https://ncua.gov/newsroom/press-release/2023/ncua-board-approves-final-member-expulsion-rule

July 19, 2023 - Regulatory Relief: Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Vermont Affected by Severe Storms and Flooding www.fdic.gov/news/financial-institution-letters/2023/fil23036.html

July 19, 2023 - Federal Reserve Board announces two enforcement actions against Deutsche Bank AG, its New York branch, and other U.S. affiliates.   www.federalreserve.gov/newsevents/pressreleases/enforcement20230719a.htm

July 18, 2023 - Office of the Comptroller of the Currency Promotes Financial Literacy at Capitol Hill Event - The Office of the Comptroller of the Currency today promoted financial literacy education by participating in the annual Jump$tart Coalition Financial Literacy Day on Capitol Hill. www.occ.gov/news-issuances/news-releases/2023/nr-occ-2023-74.html

July 18, 2023 - Senior Deputy Comptroller for Large Bank Supervision Testifies on Climate-Related Financial Risks - Office of the Comptroller of the Currency Senior Deputy Comptroller for Large Bank Supervision Greg Coleman today testified before the U.S. House of Representatives� Committee on Financial Services� Subcommittee on Financial Institutions and Monetary Policy on the agency�s supervision of climate-related financial risks. www.occ.gov/news-issuances/news-releases/2023/nr-occ-2023-73.html

July 18, 2023 - Statistical Release - Industrial Production and Capacity Utilization - G.17 - Industrial production declined 0.5 percent in June for a second consecutive month but advanced 0.7 percent at an annual rate for the second quarter as a whole. www.federalreserve.gov/releases/g17/Current/default.htm

July 18, 2023 - Furthering the Vision of the Fair Housing Act - Vice Chair for Supervision Michael S. Barr At "Fair Housing at 55 - Advancing a Blueprint for Equity" National Fair Housing Alliance 2023 National Conference, Washington, D.C. www.federalreserve.gov/newsevents/speech/barr20230718a.htm

July 18, 2023 - Climate Risk - Michael S. Gibson, Director of Supervision and Regulation Before the Subcommittee on Financial Institutions and Monetary Policy, Committee on Financial Services, U.S. House of Representatives.  www.federalreserve.gov/newsevents/testimony/gibson20230718a.htm

July 17 2023 - Statistical Release - Finance Companies - G.20.  www.federalreserve.gov/releases/g20/current/default.htm

July 14, 2023 - Tenth District Energy Activity Declined Further - Second quarter energy survey results revealed that Tenth District energy activity declined further and is expected to continue to slow. www.kansascityfed.org/surveys/energy-survey/tenth-district-energy-activity-declined-further/

July 14, 2023 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

July 14, 2023 - Report to the Congress - Annual Report 2022 - This report covers the calendar-year operations and activities carried out by the Board in its five key functional areas: (1) monetary policy, (2) financial stability, (3) supervision and regulation, (4) payment system and Reserve Bank oversight, and (5) consumer and community affairs. www.federalreserve.gov/publications/annual-report.htm

July 14, 2023 - Minutes of the Board's discount rate meetings from May 22 through June 14, 2023.  www.federalreserve.gov/newsevents/pressreleases/monetary20230711a.htm

July 14, 2023 - Chair Powell to host town hall with educators - Federal Reserve Board Chair Jerome H. Powell will host a town hall with educators on September 28, 2023, at 4:00 p.m. ET. www.federalreserve.gov/newsevents/pressreleases/other20230714a.htm

July 13, 2023 - Speech by Governor Waller on the economic outlook - Big Shocks Travel Fast: Why Policy Lags May Be Shorter Than You Think At the Money Marketeers of New York University, New York, New York. www.federalreserve.gov/newsevents/speech/waller20230713a.htm

July 13, 2023 - St. Louis Fed President Jim Bullard Announces He Is Stepping Down - James Bullard, president and chief executive officer of the Federal Reserve Bank of St. Louis, today announced that he will be leaving the Bank effective Aug. 14, 2023, to become the inaugural dean of the Mitchell E. Daniels, Jr. School of Business at Purdue University, effective Aug. 15, 2023. www.stlouisfed.org/news-releases/2023/07/13/st-louis-fed-president-jim-bullard-announces-he-is-stepping-down

July 13, 2023 - Financial Institution Diversity Self-Assessments: Voluntary Self-Assessments Accepted Now through September 30, 2023.  www.fdic.gov/news/financial-institution-letters/2023/fil23035.html

July 13, 2023 - Resolution Plans - Public sections of July 2023 plans.  www.federalreserve.gov/supervisionreg/resolution-plans-search.htm
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July 13, 2023 - Financial Institution Diversity Self-Assessments: Voluntary Self-Assessments Accepted Now through September 30, 2023 - In accordance with Section 342 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, FDIC-supervised financial institutions are encouraged to voluntarily conduct and submit self-assessments of their diversity policies and practices by September 30, 2023. www.fdic.gov/news/financial-institution-letters/2023/fil23035.html

July 13, 2023 - Forward Looking Exporters - Francois de Soyres, Erik Frohm, Emily Highkin, and Carter Mix - This paper studies the role of expectations in driving export adjustment. www.federalreserve.gov/econres/ifdp/forward-looking-exporters.htm

July 12, 2023 - The KCFSI suggests financial stress decreased moderately in June.  www.kansascityfed.org/data-and-trends/kansas-city-financial-stress-index/current-release/

July 12, 2023 - Beige Book - Informal review by the Federal Reserve Banks of current economic conditions in their Districts. www.federalreserve.gov/monetarypolicy/beigebook202307.htm

July 11, 2023 - OCC Allows National Banks and Federal Savings Associations Affected by Flooding in Vermont to Close.  www.occ.gov/news-issuances/news-releases/2023/nr-occ-2023-72.html

July 11, 2023 - OCC Assesses $60 Million Civil Money Penalty Against Bank of America Related to Bank�s Overdraft Program - The Office of the Comptroller of the Currency today announced a $60 million civil money penalty against Bank of America, N.A., for violations of law relating to its practice of assessing multiple overdraft and insufficient funds fees against customers for a single transaction. www.occ.gov/news-issuances/news-releases/2023/nr-occ-2023-71.html

July 11, 2023 - Report to Congress Pursuant to Section 13(3) of the Federal Reserve Act: Bank Term Funding Program. www.federalreserve.gov/publications/files/13-3-report-btfp-20230711.pdf

July 11, 2023 - Report and Disclosures on Funding, Credit, Liquidity, and Loan Facilities.  www.federalreserve.gov/publications/reports-to-congress-in-response-to-covid-19.htm

July 11, 2023 - Minutes of the Board's discount rate meetings from May 22 through June 14, 2023. www.federalreserve.gov/newsevents/pressreleases/monetary20230711a.htm

July 11, 2023 - Federal Reserve Board announces termination of enforcement action with Capital One Financial Corporation.   www.federalreserve.gov/newsevents/pressreleases/enforcement20230711a.htm

July 10, 2023 - Statistical Release - Consumer Credit - G.19 - In May, consumer credit increased at a seasonally adjusted annual rate of 1.8 percent. www.federalreserve.gov/releases/g19/current/

July 10, 2023 - Speech by Vice Chair for Supervision Barr on bank capital Vice Chair for Supervision Michael S. Barr At the Bipartisan Policy Center, Washington, D.C. www.federalreserve.gov/newsevents/speech/barr20230710a.htm

July 7, 2023 - How Mergers in the Farm Credit System Have Affected Ag Banks - Ag banks likely altered some of their strategic portfolio decisions after an FCS merger in their local credit market. www.kansascityfed.org/research/economic-review/how-mergers-in-the-farm-credit-system-have-affected-ag-banks/

July 7, 2023 - FOIA - Chair Powell's calendar, May 2023. www.federalreserve.gov/recentpostings.htm

July 7, 2023 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

July 7, 2023 - Termination of SNAP Emergency Allotments, Food Sufficiency, and Economic Hardships - Kabir Dasgupta and Alexander Plum - To meet the rising need for food and nutrition assistance during the pandemic in the United States, all states were approved to provide Emergency Allotments to households enrolled in the Supplemental Nutrition Assistance Program. www.federalreserve.gov/econres/feds/termination-of-snap-emergency-allotments-food-sufficiency-and-economic-hardships.htm
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July 6, 2023 - Aggregate Implications of Deviations from Modigliani-Miller: A Sufficient Statistics Approach - Robert Kurtzman and David Zeke - A few sufficient statistics can identify the aggregate effects of distortions to firm investment in a class of general equilibrium models that can accommodate rich general equilibrium effects including endogenous firm entry. www.federalreserve.gov/econres/feds/aggregate-implications-of-deviations-from-modigliani-miller-a-sufficient-statistics-approach.htm

July 6, 2023 - Federal Reserve Board issues enforcement actions with Herring Bancorp, Inc., Quontic Bank Acquisition Corp., and Quontic Bank Holdings Corp. www.federalreserve.gov/newsevents/pressreleases/enforcement20230706a.htm

July 5, 2023 - The Economist: Work by Gadi Barlevy and Luojia Hu challenges belief that rising salaries predict future inflation - Rising salaries are a poor predictor of future inflation. www.economist.com/finance-and-economics/2023/06/15/wage-price-spirals-are-far-scarier-in-theory-than-in-practice

July 5, 2023 - NCUA - MDI Credit Unions� Strong Performance Benefits Members and Communities - Minority depository institution credit unions experienced growth in membership, assets, and loans in 2022, expanding access to financial services for their members and communities. https://ncua.gov/newsroom/press-release/2023/mdi-credit-unions-strong-performance-benefits-members-and-communities

July 5, 2023 - Minutes of the Federal Open Market Committee, June 13-14, 2023. www.federalreserve.gov/newsevents/pressreleases/monetary20230705a.htm

July 3, 2023 - OCC Releases CRA Evaluations for 19 National Banks and Federal Savings Associations - The list contains only national banks, federal savings associations, and insured federal branches of foreign banks that have received ratings. www.occ.gov/news-issuances/news-releases/2023/nr-occ-2023-70.html

July 3, 2023 - FDIC Issues List of Banks Examined for CRA Compliance - July - The list covers evaluation ratings that the FDIC assigned to institutions in April 2023. www.fdic.gov/news/press-releases/2023/pr23054.html

July 3, 2023 - Statistical Release - Foreign Exchange Rates - G.5 - The table below shows the average rates of exchange in JUNE 2023 together with comparable figures for other months. www.federalreserve.gov/releases/g5/current/default.htm