The E-mail Banking News
(Bank Regulatory News)

November 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 Office/Cell 806-535-8300 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.

November 7, 2019 - Statistical Release - Consumer Credit - G.19 - Consumer credit increased at a seasaonlly adjusted annual rate of 5 percent during the third quarter. Revolving credit increased at an annual rate of 2-1/4 annual rate of 6 percent. In September, consumer credit increased at an annual rate of 2-3/4 percent. www.federalreserve.gov/releases/g19/current/default.htm

November 7, 2019 - Kevin Greenfield Named Deputy Comptroller for Operational Risk - The Office of the Comptroller of the Currency today announced Kevin Greenfield would become the agency’s Deputy Comptroller for Operational Risk. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-131.html

November 7, 2019 - San Francisco Fed Hosting Economics of Climate Change Research Conference - Researchers from around the globe will convene at the San Francisco Fed tomorrow for the Federal Reserve System’s first research conference on the economic impacts of climate change. www.frbsf.org/our-district/press/news-releases/2019/san-francisco-fed-hosting-economics-of-climate-change-research-conference/

November 7, 2019 - Oil Prices and Consumption across Countries and U.S. States - Andrea De Michelis, Thiago R. T. Ferreira, and Matteo Iacoviello - We study the effects of oil prices on consumption across countries and U.S. states, by exploiting the time-series and cross-sectional variation in oil dependency of these economies.  www.federalreserve.gov/econres/ifdp/files/ifdp1263.pdf

November 6, 2019 - Kansas City Fed appoints senior vice president and general counsel - Federal Reserve Bank of Kansas City President and Chief Executive Officer Esther George has announced that Craig Zahnd will join the Bank as senior vice president, general counsel and chief compliance officer, effective Nov. 18. www.kansascityfed.org/~/media/files/publicat/newsroom/2019/zahnd2019%20002witpic.pdf 

November 6, 2019 - Proposed Regulatory Reporting Revisions - The banking agencies, under the auspices of the Federal Financial Institutions Examination Council, have issued the attached Federal Register notice requesting comment on proposed capital-related reporting changes and other reporting revisions. www.fdic.gov/news/news/financial/2019/fil19069.html

November 6, 2019 - FDIC Announces Settlement with HomeStreet Bank in Seattle for Violations of the Real Estate Settlement Procedures Act - The Federal Deposit Insurance Corporation today announced a settlement with HomeStreet Bank, Seattle, Washington, for violations of the Real Estate Settlement Procedures Act. HomeStreet Bank stipulated to the issuance of an Order to Pay Civil Money Penalty in the amount of $1,350,000. www.fdic.gov/news/news/press/2019/pr19103.html

November 6, 2019 - Dealer Leverage and Exchange Rates: Heterogeneity Across Intermediaries - Ricardo Correa and Laurie P. DeMarco - In line with a growing literature on financial intermediary asset pricing, we find that changes in the leverage of primary dealers have predictive power in forecasting exchange rates.  www.federalreserve.gov/econres/ifdp/files/ifdp1262.pdf

November 6, 2019 - NCUA Board Member Todd M. Harper Closing Remarks - “My Diversity Journey and Commitment”, NCUA’s Inaugural Credit Union Diversity, Equity, and Inclusion Summit www.ncua.gov/newsroom/speech/2019/ncua-board-member-todd-m-harper-closing-remarks-my-diversity-journey-and-commitment-ncuas-inaugural

November 6, 2019 - NCUA Chairman Rodney E. Hood Remarks - The America Saves Summit: Attacking the Savings Crisis, Washington, D.C. www.ncua.gov/newsroom/speech/2019/ncua-chairman-rodney-e-hood-remarks-america-saves-summit-attacking-savings-crisis-washington-dc

November 6, 2019 - NCUA Chairman Rodney E. Hood Remarks - Diversity, Inclusion, and Equity Summit, Alexandria, VA.  www.ncua.gov/newsroom/speech/2019/ncua-chairman-rodney-e-hood-remarks-diversity-inclusion-and-equity-summit-alexandria-va 

November 5, 2019 - NCUA - Chairman Hood Appoints Gisele Roget, Evann Berry to Senior Roles - National Credit Union Administration Chairman Rodney E. Hood announced today the appointments of Gisele Roget and Evann Berry to senior leadership roles responsible for the agency’s communications, external affairs, and industry engagement functions. www.ncua.gov/newsroom/press-release/2019/chairman-hood-appoints-gisele-roget-evann-berry-senior-roles

November 5, 2019 - Second NCUA/SBA Webinar Scheduled for Nov. 13 - Credit unions that participate in U.S. Small Business Administration programs or that are interested in those programs can get valuable information on a Nov. 13 webinar hosted by the SBA and the National Credit Union Administration. www.ncua.gov/newsroom/press-release/2019/second-ncuasba-webinar-scheduled-nov-13

November 5, 2019 - Kansas City Fed releases latest Bank Capital Analysis update - The Federal Reserve Bank of Kansas City today released the June 30, 2019, publication of its Bank Capital Analysis, which provides an objective and data-based approach to judging capital strength across the banking industry. www.kansascityfed.org/~/media/files/publicat/banking/bca/pressreleasebca11519.pdf 

November 5, 2019 - Proposed Revisions to the Consolidated Reports of Condition and Income and the FFIEC 101 Report - On October 4, 2019, the Federal Deposit Insurance Corporation, the Federal Reserve Board, and the Office of the Comptroller of the Currency, under the auspices of the Federal Financial Institutions Examination Council, published proposed regulatory reporting changes in the Federal Register for public comment. www.fdic.gov/news/news/financial/2019/fil19068.html 

November 5, 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 August 2019. www.fdic.gov/news/news/press/2019/pr19102.html

November 5, 2019 - Advisory Council - Community Advisory Council, Record of Meeting - November 1, 2019 - The Community Advisory Council was formed by the Federal Reserve Board in 2015 to offer diverse perspectives on the economic circumstances and financial services needs of consumers and communities, with a particular focus on the concerns of low- and moderate-income populations. www.federalreserve.gov/aboutthefed/cac.htm 

November 5, 2019 - Data Yield Curve Models - The yield curve, also called the term structure of interest rates, refers to the relationship between the remaining time-to-maturity of debt securities and the yield on those securities. www.federalreserve.gov/data/yield-curve-models.htm

November 5, 2019 - Payment Systems - Fedwire Securities Service, quarterly update.  www.federalreserve.gov/paymentsystems/fedsecs_qtr.htm

November 5, 2019 - Payment Systems - National Settlement Service, quarterly update.  www.federalreserve.gov/paymentsystems/natl_qtr.htm

November 5, 2019 - Payment Systems - Fedwire Funds Service, quarterly update.  www.federalreserve.gov/paymentsystems/fedfunds_qtr.htm

November 4, 2019 - Brave-Butters-Kelley Indexes - The Brave-Butters-Kelley Indexes are a research project of the Federal Reserve Bank of Chicago. The BBK Coincident and Leading Indexes and Monthly GDP Growth for the U.S. are constructed from a collapsed dynamic factor analysis of a panel of 500 monthly measures of real economic activity and quarterly real GDP growth. www.chicagofed.org/publications/bbki/index

November 4, 2019 - St. Louis Fed Presents: How Fintech is Transforming Banking - Technological innovations and fintech firms are reshaping banking, creating new opportunities, and posing new challenges. www.stlouisfed.org/news-releases/2019/st-louis-fed-presents-how-fintech-is-transforming-banking

November 4, 2019 - Revised Effective Date for Simplifications to the Capital Rule - The Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency and the Federal Reserve Board jointly issued a final rule that permits insured depository institutions and depository institution holding companies to implement the simplifications to the capital rule on January 1, 2020, rather than April 1, 2020. www.fdic.gov/news/news/financial/2019/fil19067.html

November 4, 2019 - Community Bank Leverage Ratio Framework - The federal banking agencies jointly issued a final rule that provides for an optional, simplified measure of capital adequacy, the community bank leverage ratio framework, for qualifying community banking organizations, consistent with Section 201 of the Economic Growth, Regulatory Relief, and Consumer Protection Act. www.fdic.gov/news/news/financial/2019/fil19066.html

November 4, 2019 - Effective Lower Bound Risk - Timothy S. Hills, Taisuke Nakata, and Sebastian Schmidt - Even when the policy rate is currently not constrained by its effective lower bound, the possibility that the policy rate will become constrained in the future lowers today's inflation by creating tail risk in future inflation and thus reducing expected inflation. www.federalreserve.gov/econres/feds/files/2019077pap.pdf

November 4, 2019 - Senior Loan Officer Opinion Survey on Bank Lending Practices, October 2019 - Survey of up to eighty large domestic banks and twenty-four U.S. branches and agencies of foreign banks. The Federal Reserve generally conducts the survey quarterly, timing it so that results are available for the January/February, April/May, August, and October/November meetings of the Federal Open Market Committee. www.federalreserve.gov/data/sloos.htm

November 4, 2019 - 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 November 4, 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/20191104closed.htm

November 4, 2019 - Publications - Consumer & Community Context: Small Business - Consumer & Community Context, an article series, 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/publications/consumer-community-context.htm 

November 1, 2019 - NCUA Awards Three MDI Credit Unions $74,875 in Mentoring Grants - Three low-income credit unions designated as minority depository institutions will build mentoring programs with three larger institutions with the help of grants announced today by the National Credit Union Administration. www.ncua.gov/newsroom/press-release/2019/ncua-awards-three-mdi-credit-unions-74875-mentoring-grants

November 1, 2019 - Applicability Thresholds for Regulatory Capital and Liquidity Requirements : Final Rule - The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation published a final rule in the Federal Register on November 1, 2019, that revises the framework for determining the applicability of regulatory capital and standardized liquidity requirements for large U.S. banking organizations, the U.S. intermediate holding companies of certain foreign banking organizations, and certain of their depository institution subsidiaries. www.occ.gov/news-issuances/bulletins/2019/bulletin-2019-52.html

November 1, 2019 - OCC Releases CRA Evaluations for 37 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 October 1, 2019 through October 31, 2019. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-129.html

November 1, 2019 - OCC Issues Final Rule to Change Applicability Thresholds for Regulatory Capital and Liquidity Requirements - The Office of the Comptroller of the Currency today announced a final rule to tailor capital and liquidity requirements for certain banking organizations with more than $100 billion in total consolidated assets to more closely match their risk profiles. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-128.html 

November 1, 2019 - Statistical Release - Foreign Exchange Rates - G.5.  www.federalreserve.gov/releases/g5/current/default.htm

November 1, 2019 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

November 1, 2019 - The Global Equilibrium Real Interest Rate: Concepts, Estimates, and Challenges - The Global Equilibrium Real Interest Rate: Concepts, Estimates, and Challenges - Michael T. Kiley - Real interest rates have been persistently below historical norms over the past decade, leading economists and policymakers to view the equilibrium real interest rate as likely to be low for some time. www.federalreserve.gov/econres/feds/files/2019076pap.pdf

November 1, 2019 - In Search of Lost Time Aggregation - Edmund Crawley - In 1960, Working noted that time aggregation of a random walk induces serial correlation in the first difference that is not present in the original series. www.federalreserve.gov/econres/feds/files/2019075pap.pdf

November 1, 2019 - Speech by Vice Chair for Supervision Quarles on Friedrich Hayek and the price system At "The Road to Serfdom at 75: The Future of Classical Liberalism and the Free Market" Ninth Annual Conference of the William F. Buckley, Jr., Program at Yale, New Haven, Connecticut.  www.federalreserve.gov/newsevents/speech/quarles20191101a.htm

November 1, 2019 - Speech by Vice Chair Clarida on the United States, Japan, and the global economy At the Japan Society, New York, New York.   www.federalreserve.gov/newsevents/speech/clarida20191101a.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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