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)

September 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/.

September 21, 2017 - OCC Hosts Mutual Savings Association Advisory Committee Meeting on October 17 in Chicago - 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, October 17, 2017, beginning at 3:00 p.m. Central Daylight Time. www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-109.html

September 21, 2017 - Financial Accounts of the United States - Z.1 - Current Release Release Dates Enhanced Financial Accounts Financial Accounts Guide Technical Q&As Announcements.   www.federalreserve.gov/releases/z1/current/default.htm

September 21, 2017 - Federal Reserve Board announces termination of enforcement action with The First Bank of Baldwin www.federalreserve.gov/newsevents/pressreleases/enforcement20170921a.htm

September 20, 2017 - NCUA Board Re-Schedules September Closed Meeting - The National Credit Union Administration Board has re-scheduled its September closed meeting. www.ncua.gov/newsroom/Pages/news-2017-sept-ncua-board-reschedules-september-closed-meeting.aspx

September 20, 2017 - Prohibition Against Interstate Deposit Production: Annual Host State Loan-to-Deposit Ratios - Annual Host State Loan-to-Deposit Ratios - The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation issued on June 21, 2017, the host state loan-to-deposit ratios used to determine compliance with section 109 of the Riegle–Neal Interstate Banking and Branching Efficiency Act of 1994. www.occ.treas.gov/news-issuances/bulletins/2017/bulletin-2017-37.html 

September 20, 2017 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at 1:00 p.m. on September 19, 2017 and continued at 9:00 a.m. on September 20, 2017. Matter(s) considered: Discussion of Monetary Policy Issues. www.federalreserve.gov/aboutthefed/boardmeetings/20170919closed.htm

September 20, 2017 - Federal Reserve Board and Federal Open Market Committee release economic projections from the September 19-20 FOMC meeting - The attached table and charts released on Wednesday summarize the economic projections and the target federal funds rate projections made by Federal Open Market Committee participants for the September 19-20 meeting. www.federalreserve.gov/newsevents/pressreleases/monetary20170920b.htm

September 20, 2017 - Federal Reserve issues FOMC statement - Information received since the Federal Open Market Committee met in July indicates that the labor market has continued to strengthen and that economic activity has been rising moderately so far this year. www.federalreserve.gov/newsevents/pressreleases/monetary20170920a.htm

September 19, 2017 - NCUA Warning Credit Unions of Hurricane Maria’s Approach - Credit unions in the path of Hurricane Maria, currently a Category 5 storm, are being advised to take precautions as it approaches the Virgin Islands and Puerto Rico, the National Credit Union Administration said today. www.ncua.gov/newsroom/Pages/news-2017-sept-ncua-warning-credit-unions-hurricane-maria-approach.aspx

September 19, 2017 - Joint Notice of Proposed Rulemaking: Securities Transaction Settlement Cycle - The notice of proposed rulemaking, issued jointly by the FDIC and the Office of the Comptroller of the Currency, would shorten the standard settlement cycle for securities purchased or sold by FDIC-supervised institutions, national banks, and federal savings associations from three to two days. www.fdic.gov/news/news/financial/2017/fil17044.html 
 
September 19, 2017 - Federal Reserve Board announces termination of enforcement action with AB&T Financial Corporation.  www.federalreserve.gov/newsevents/pressreleases/enforcement20170919a.htm

September 18, 2017 - NCUA Charters Clean Energy Federal Credit Union - New Credit Union Will Provide Affordable Financial Services to Support Members’ Clean Energy Needs - The National Credit Union Administration has granted a federal charter and Share Insurance Fund coverage to Clean Energy Federal Credit Union in Boulder, Colorado. www.ncua.gov/newsroom/Pages/news-2017-sept-ncua-charters-clean-energy-federal-credit-union.aspx

September 18, 2017 - Meeting the Financial Needs of Customers Affected by Hurricane Irma and its Aftermath - Updating to reflect a major disaster declaration in Georgia. - The FDIC encourages depository institutions to consider all reasonable and prudent steps to assist customers in communities affected by recent storms.  www.fdic.gov/news/news/financial/2017/fil17043.html

September 15, 2017 - OCC Enforcement Actions and Terminations for September 2017 - 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/2017/nr-occ-2017-108.html

September 15, 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 under expedited procedures at 1:00 p.m. on September 19, 2017. Matter(s) considered: Discussion of Monetary Policy Issues. www.federalreserve.gov/aboutthefed/boardmeetings/20170919closed.htm

September 15, 2017 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update.  www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

September 15, 2017 - Statistical Release - Industrial Production and Capacity Utilization - G.17 - Industrial production declined 0.9 percent in August following six consecutive monthly gains. Hurricane Harvey, which hit the Gulf Coast of Texas in late August, is estimated to have reduced the rate of change in total output by roughly 3/4 percentage point. www.federalreserve.gov/releases/g17/Current/ 

September 14, 2017 - When It Comes to Wage Growth, the Measure Matters By Ross Cole , Luojia Hu , Sam Schulhofer-Wohl - Average wages are a closely watched economic indicator. www.chicagofed.org/publications/chicago-fed-letter/2017/387

September 14, 2017 - Federal Reserve Bank of Chicago's Detroit Branch Announces New Board Member - The Federal Reserve Bank of Chicago’s Detroit Branch today announced a new member of its board of directors, effective immediately. www.chicagofed.org/publications/news/2017/new-director-release-detroit-baruah-09-14-17

September 14, 2017 - Credit Union Growth Trends Continue in Second Quarter of 2017 - Federally insured credit unions across the country saw continued improvement in nearly every category during the second quarter of 2017, according to state-level data compiled by the National Credit Union Administration and released today. www.ncua.gov/newsroom/Pages/news-2017-sept-credit-union-growth-trends-continue-second-quarter.aspx

September 14, 2017 - Report to the Congress - Presidential $1 Coin Program - Reports on the Federal Reserve and the United States Mint's collaborative efforts to develop the Presidential $1 Coin Program and improve the distribution and circulation of $1 coins. www.federalreserve.gov/publications/presidential-dollar-coin-program.htm
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September 14, 2017 - When It Comes to Wage Growth, the Measure Matters By Ross Cole , Luojia Hu , Sam Schulhofer-Wohl - Average wages are a closely watched economic indicator. The growth rate of average wages can help tell us, for example, how workers’ living standards are changing, whether employers face rising costs that they might pass through to consumer price inflation, and whether the labor market is tight or has room to improve further. www.chicagofed.org/publications/chicago-fed-letter/2017/387

September 14, 2017 - Introducing the Chicago Fed’s New Adjusted National Financial Conditions Index By Scott A. Brave , David Kelley - This article introduces improvements to the adjusted National Financial Conditions Index. Compared with the previous version, the new ANFCI uses an enhanced estimation procedure with a broader set of macroeconomic adjustment variables and produces a longer time series history. www.chicagofed.org/publications/chicago-fed-letter/2017/386

September 14, 2017 - Federal Reserve Board issues enforcement action with First Nebraska Bank.  www.federalreserve.gov/newsevents/pressreleases/enforcement20170914a.htm 

September 13, 2017 - OCC Hosts Compliance and Operational Risk Workshops in San Diego - The Office of the Comptroller of the Currency will host two workshops in San Diego at the Holiday Inn San Diego-Bayside, October 24 and 25, for directors of national community banks and federal savings associations supervised by the OCC. www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-106.html

September 13, 2017 - Federal Reserve Board announces approval of notice by The Toronto-Dominion Bank, TD Group US Holdings LLC, and TD Bank US Holding Company.   www.federalreserve.gov/newsevents/pressreleases/orders20170913a.htm

September 13, 2017 - Agencies to propose amending CRA regulations to conform to HMDA regulation changes, and remove references to the neighborhood stabilization program - The federal bank regulatory agencies today issued a joint notice of proposed rulemaking to amend their respective Community Reinvestment Act regulations primarily to conform to changes made by the Consumer Financial Protection Bureau to Regulation C, which implements the Home Mortgage Disclosure Act.
Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20170913a.htm
Press Release: www.fdic.gov/news/news/press/2017/pr17070.html
Press Release: www.occ.gov/news-issuances/news-releases/2017/nr-ia-2017-107.html

September 12, 2017 - Mexico’s Growing Role in the Auto Industry Under NAFTA: Who Makes What and What Goes Where By Thomas H. Klier, James Rubenstein.  https://chicagofed.org/publications/economic-perspectives/2017/6

September 12, 2017 - NCUA Sets Budget Briefing for Oct. 18 - Draft Budget Available Week of Oct. 2; Deadline for Comments Oct. 27 - The National Credit Union Administration will hold a public briefing on its proposed 2018–2019 budget on Wednesday, Oct. 18, from 2 p.m. to 4 p.m. Eastern in the agency’s boardroom in Alexandria, Virginia. www.ncua.gov/newsroom/Pages/news-2017-sept-ncua-sets-budget-briefing-october-18.aspx

September 12, 2017 - 2017 Fed/CSBS Community Banking Research Conference to be Webcast Live Oct. 4-5 - Community bankers, academics, policymakers and bank supervisors from around the country will meet Oct. 4-5 at the Federal Reserve Bank of St. Louis for the fifth annual Community Banking in the 21st Century research and policy conference hosted by the Federal Reserve System and the Conference of State Bank Supervisors.  www.stlouisfed.org/news-releases/2017/09/2017-community-banking-research-conference-to-be-webcast-live 

September 12, 2017 - St. Louis Fed’s FRED Boasts More than 500,000 Data Series - The signature economic database of the Federal Reserve Bank of St. Louis began in 1991 as a dial-up electronic bulletin board with 30 data series.  www.stlouisfed.org/news-releases/2017/09/st-louis-fed-fred-boasts-more-than-500000-data-series

September 12, 2017 - Federal Reserve Board issues enforcement action with Markesan State Bank. www.federalreserve.gov/newsevents/pressreleases/enforcement20170912a.htm

September 11, 2017 - OCC Hosts Minority Depository Institutions Advisory Committee Meeting - The Office of the Comptroller of the Currency today announced it will host a public meeting of the Minority Depository Institutions Advisory Committee on Tuesday, October 3, 2017, beginning at 8:30 a.m., Eastern Daylight Time. www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-105.html

September 8, 2017 - Liquidity, Settlement Risk, and Systemic Stability - A speech delivered on September 8, 2017, before the World Federation of Exchanges Annual Meeting in Bangkok, Thailand. www.chicagofed.org/publications/speeches/2017/9-08-liquidity-settlement-risks-and-systemic-stability-marshall

September 8, 2017 - 12 Credit Unions Agree to Late-Filing Penalties for First Quarter 2017 - The number of federally insured credit unions subject to civil monetary penalties for filing late Call Reports in the first quarter of 2017 was lower than recent trends, the National Credit Union Administration announced today. www.ncua.gov/newsroom/Pages/news-2017-sept-late-filers.aspx

September 8, 2017 - Statistical Release - Consumer Credit - G.19 - In July, consumer credit increased at a seasonally adjusted annual rate of 6 percent. Revolving credit increased at an annual rate of 3-1/4 percent, while nonrevolving credit increased at an annual rate of 7 percent. www.federalreserve.gov/releases/g19/current/default.htm

September 8, 2017 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update.  www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

September 7, 2017 - Comptroller’s Handbook: Revised ‘Foreword’ Booklet and Rescissions - The Office of the Comptroller of the Currency issued today the “Foreword” booklet of the Comptroller’s Handbook. www.occ.treas.gov/news-issuances/bulletins/2017/bulletin-2017-36.html
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September 7, 2017 - 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

September 7, 2017 - Flood Disaster Protection Act - Revised Comptroller’s Handbook Booklet - The Office of the Comptroller of the Currency issued today the “Flood Disaster Protection Act” booklet of the Comptroller’s Handbook. www.occ.treas.gov/news-issuances/bulletins/2017/bulletin-2017-35.html 

September 7, 2017 - NCUA Has Disaster Resources for Areas Affected by Hurricane Irma - The National Credit Union Administration recognizes the serious threat Hurricane Irma poses to credit unions and their members. The agency remains ready to provide assistance to those impacted by the disaster. www.ncua.gov/newsroom/Pages/news-2017-sept-ncua-disaster-resources-areas-affected-hurricane-irma.aspx

September 6, 2017 - Chicago Fed Survey of Business Conditions - Survey shows growth slowed in July and early August - The Chicago Fed Survey of Business Conditions Activity Index decreased to –8 from +4, suggesting that growth in economic activity slowed to a modest pace in July and early August. www.chicagofed.org/~/media/publications/cfsbc/2017/cfsbc-september2017-pdf.pdf

September 6, 2017 - Introducing the Chicago Fed’s New Adjusted National Financial Conditions Index By Scott A. Brave , David Kelley - This article introduces improvements to the adjusted National Financial Conditions Index. www.chicagofed.org/publications/chicago-fed-letter/2017/386

September 6, 2017 - NCUA Releases Q2 2017 Credit Union System Performance Data - Data on the financial performance of federally insured credit unions in the quarter ending June 30, 2017, are now available from the National Credit Union Administration. - NCUA makes detailed credit union system performance data available on its Credit Union and Call Report Data webpage, including Call Report quarterly summaries and financial performance reports.  www.ncua.gov/newsroom/Pages/news-2017-sept-quarterly-call-report-data-q2.aspx

September 6, 2017 - Additional Interagency Frequently Asked Questions on the New Accounting Standard on Financial Instruments–Credit Losses - The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the National Credit Union Administration are publishing additional frequently asked questions to assist financial institutions and examiners with the new accounting standard, Accounting Standards Update 2016-13, Topic 326, “Financial Instruments–Credit Losses,” issued by the Financial Accounting Standards Board on June 16, 2016. www.occ.treas.gov/news-issuances/bulletins/2017/bulletin-2017-34.html

September 6, 2017 - Revised Guidelines for Appeals of Material Supervisory Determinations - The FDIC has adopted revised Guidelines for Appeals of Material Supervisory Determinations, which govern appeals by FDIC-supervised institutions to Division Directors and the Supervision Appeals Review Committee. www.fdic.gov/news/news/financial/2017/fil17042.html

September 6, 2017 - Beige Book - Informal review by the Federal Reserve Banks of current economic conditions in their Districts.  www.federalreserve.gov/monetarypolicy/beige-book-default.htm

September 6, 2017 - Frequently Asked Questions on the Current Expected Credit Losses Methodology - Applicability: This guidance applies to all Federal Reserve supervised financial institutions,1 including those with $10 billion or less in consolidated assets, that file regulatory reports prepared in accordance with generally accepted accounting principles. www.federalreserve.gov/supervisionreg/srletters/sr1708.htm

September 6, 2017 - Federal Reserve Board announces approval of application by Synovus Bank - The Federal Reserve Board on Wednesday announced its approval of the application under section 18(c) of the Federal Deposit Insurance Act by Synovus Bank, Columbus, Georgia, to acquire substantially all the assets of, and assume the deposit liabilities from, World's Foremost Bank, Sidney, Nebraska. www.federalreserve.gov/newsevents/pressreleases/orders20170906a.htm

September 6, 2017 - Federal and state banking agencies issue statement on supervisory practices regarding financial institutions and borrowers affected by Hurricane Irma. 
Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20170906a.htm
Press Release: www.fdic.gov/news/news/press/2017/pr17069.html
Press Release: www.occ.gov/news-issuances/news-releases/2017/nr-ia-2017-104.html

September 6, 2017 - Federal Reserve outlines next steps for payment system improvement - The Federal Reserve today published, Strategies for Improving the U.S. Payment System: Federal Reserve Next Steps in the Payments Improvement Journey, a paper identifying updated tactics it will pursue to help improve the speed, safety and efficiency of the U.S. payment system. www.federalreserve.gov/newsevents/pressreleases/other20170906a.htm

September 6, 2017 - Stanley Fischer submits resignation as a member of the Board of Governors, effective on or around October 13, 2017.   www.federalreserve.gov/newsevents/pressreleases/other20170906b.htm

September 5, 2017 - A Look at Detroit's Affordable Housing Market By Desiree Hatcher - The foreclosure crisis had a significant impact on Detroit's home ownership rates. www.chicagofed.org/publications/profitwise-news-and-views/2017/a-look-at-detroits-affordable-housing-market

September 5, 2017 - NCUA Warns Credit Unions in the Path of Hurricane Irma to Prepare - Credit unions in the path of Hurricane Irma are being advised to take precautions as the storm bears down on the Virgin Islands, Puerto Rico, and the U.S. mainland, the National Credit Union Administration said today. www.ncua.gov/newsroom/Pages/news-2017-sept-ncua-warns-credit-unions-path-hurricane-irma-prepare.aspx

September 5, 2017 - NCUA Awards More Than $1.8 Million in Grants -  Low-Income Credit Unions Will Expand Services, Train Staff, Improve Security - More than $1.8 million in grants will help 251 low-income credit unions expand digital services to underserved communities, provide leadership training, and improve cybersecurity, the National Credit Union Administration announced today. www.ncua.gov/newsroom/Pages/news-2017-sept-ncua-awards-grants.aspx

September 5, 2017 - OCC Allows National Banks and Federal Savings Associations Affected by Hurricane Irma to Close - The Office of the Comptroller of the Currency today issued a proclamation allowing national banks and federal savings associations affected by Hurricane Irma to close. www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-103.html

September 5, 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. www.fdic.gov/news/news/press/2017/pr17068.html

September 5, 2017 - Speech by Governor Brainard on understanding the disconnect between employment and inflation with a low neutral rate At The Economic Club of New York New York, New York www.federalreserve.gov/newsevents/speech/brainard20170905a.htm
 
September 5, 2017 - Federal Reserve Board prohibits former employee at Regions Bank from participating in the banking industry - The Federal Reserve Board on Tuesday announced it is prohibiting Daniel X. Brennan, a former Mortgage Production Manager at Regions Bank, Birmingham, Alabama, from participating in the banking industry after determining he engaged in improper practices regarding residential mortgage origination. www.federalreserve.gov/newsevents/pressreleases/enforcement20170905a.htm

September 1, 2017 - Description: Revised Comptroller’s Licensing Manual Booklet - The Office of the Comptroller of the Currency issued today the “Change in Bank Control” booklet of the Comptroller’s Licensing Manual. www.occ.treas.gov/news-issuances/bulletins/2017/bulletin-2017-33.html

September 1, 2017 - OCC Releases CRA Evaluations for 27 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 August 1, 2017 through August 31, 2017. www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-102.html

September 1, 2017 - Agencies Issue Notice of Proposed Rulemaking to Shorten Settlement Cycle - The Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation today issued a notice of proposed rulemaking to shorten the standard settlement cycle for securities purchased or sold by national banks, federal savings associations, and FDIC-supervised institutions.
Press Release: www.fdic.gov/news/news/press/2017/pr17067.html
Press Release: www.occ.gov/news-issuances/news-releases/2017/nr-ia-2017-101.html

September 1, 2017 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

September 1, 2017 - Federal Reserve Board adopts final rule to enhance financial stability - For immediate release - The Federal Reserve Board on Friday adopted a final rule to enhance financial stability by requiring U.S. global systemically important banking institutions and the U.S. operations of foreign GSIBs to amend qualified financial contracts to prevent their immediate cancellation or termination if the firm enters bankruptcy or a resolution process. www.federalreserve.gov/newsevents/pressreleases/bcreg20170901a.htm

September 1, 2017 - Foreign Exchange Rates - G.5 - Current Release Release Dates Country Data Nominal/Real Indexes Currency Weights H.10 G.5A About Announcements - The table below shows the average rates of exchange in AUGUST 2017 together with comparable figures for other months. www.federalreserve.gov/releases/g5/current/default.htm

September 1, 2017 - Federal Reserve Board adopts final rule to enhance financial stability - For immediate release - The Federal Reserve Board on Friday adopted a final rule to enhance financial stability by requiring U.S. global systemically important banking institutions and the U.S. operations of foreign GSIBs to amend qualified financial contracts to prevent their immediate cancellation or termination if the firm enters bankruptcy or a resolution process. www.federalreserve.gov/newsevents/pressreleases/bcreg20170901a.htm

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