The E-mail Banking News
(Bank Regulatory News)

September 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.

September 12, 2019 - Testimony by Thomas Sullivan, Associate Director, Division of Supervision and Regulation Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate, Washington, D.C. www.federalreserve.gov/newsevents/testimony/sullivan20190912a.htm

September 11, 2019 - Federal Reserve Board announces approval of application by Vista Bank - The Federal Reserve Board on Wednesday announced its approval of the application under section 9 of the Federal Reserve Act by Vista Bank, Ralls, Texas, to establish a branch at 5840 West Northwest Highway, Dallas, Texas. www.federalreserve.gov/newsevents/pressreleases/orders20190911a.htm

September 11, 2019 - NCUA: Q2 2019 State Credit Union Data Report Now Available - Federally insured credit unions generally saw continued positive trends in the second quarter of 2019, according to the latest NCUA Quarterly U.S. Map Review. www.ncua.gov/newsroom/press-release/2019/ncua-q2-2019-state-credit-union-data-report-now-available

September 11, 2019 - NCUA Chairman Hood Appoints Michael Sinacore as Deputy Director for External Affairs and Communications - Sinacore joins the NCUA from the Office of Sen. Deb Fischer, where he served as a legislative assistant, focusing on economic policy. He will report to Lenwood Brooks, Chairman Hood’s Acting Chief of Staff. www.ncua.gov/newsroom/press-release/2019/ncua-chairman-hood-appoints-michael-sinacore-deputy-director-external-affairs-and-communications

September 10, 2019 - Comptroller of the Currency Discusses Community Reinvestment Act, Honored for his Philanthropy - Comptroller of the Currency Joseph Otting today discussed community reinvestment and economic opportunity during remarks at the 2019 Illumination Reception hosted by the Oasis Center International, in Santa Ana, Calif. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-105.html

September 10, 2019 - NCUA’s Hood: “Working Together is Success” - The success of the credit union system rests on credit unions and the National Credit Union Administration working together, NCUA Chairman Rodney E. Hood said today. www.ncua.gov/newsroom/press-release/2019/ncuas-hood-working-together-success

September 10, 2019 - NCUA - Harper: Learn from the Past; Focus on the Future - NCUA Board Member Discusses Risk, Innovation, Inclusion, and Consumer Financial Protection - Speaking to a Women in Housing and Finance Policy event today, Harper said America’s credit unions, the NCUA, and the financial system at large face a variety of risks as the financial and social environment undergoes rapid change. www.ncua.gov/newsroom/press-release/2019/harper-learn-past-focus-future

September 10, 2019 - NCUA Chairman Rodney E. Hood Remarks - NAFCU Congressional Caucus.  www.ncua.gov/newsroom/speech/2019/ncua-chairman-rodney-e-hood-remarks-nafcu-congressional-caucus

September 10, 2019 - NCUA Board Member Todd M. Harper Remarks - Women in Housing and Finance Policy Lunch.  www.ncua.gov/newsroom/speech/2019/ncua-board-member-todd-m-harper-remarks-women-housing-and-finance-policy-lunch

September 10, 2019 - Federal Reserve Board announces termination of enforcement action with Homestar Financial Group.   www.federalreserve.gov/newsevents/pressreleases/enforcement20190910a.htm

September 9, 2019 - Comptroller of the Currency Visits Compton, California, to Discuss How to Increase Community Reinvestment - Comptroller of the Currency Joseph Otting today visited Compton, California, and met with community stakeholders and bankers to discuss how to encourage more lending, investment, and bank services in areas that need it most. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-104.html

September 9, 2019 - OCC Hosts Compliance and Operational Risk Workshops in Los Angeles - The Office of the Comptroller of the Currency will host two workshops in Los Angeles at the Federal Reserve Bank of Los Angeles, October 22 and 23, for directors of national community banks and federal savings associations supervised by the OCC. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-103.html
 
September 9, 2019 - Interactive Maps Detail Burden of Student Debt in the Bay Area - A new interactive mapping tool released today by the Federal Reserve Bank of San Francisco provides an in-depth look at student loan borrowing and repayment in the nine-county San Francisco Bay Area. www.frbsf.org/our-district/press/news-releases/2019/interactive-maps-detail-burden-of-student-debt-in-the-bay-area/

September 9, 2019 - Request for Comments on Interest Rate Restrictions Applicable to Institutions That Are Less Than Well Capitalized.  www.fdic.gov/news/news/financial/2019/fil19049.html

September 9, 2019 - Statistical Release - Consumer Credit - G.19 - In July, consumer credit increased at a seasonally adjusted annual rate of 6-3/4 percent. Revolving credit increased at an annual rate of 11-1/4 percent, while nonrevoving credit increased at an annual rate of 5-1/4 percent. www.federalreserve.gov/releases/g19/current/default.htm

September 6, 2019 - OCC Releases CRA Evaluations for 26 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, 2019 through August 31, 2019. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-102.html

September 6, 2019 - Emerging Trends in the U.S. and Colorado Economies By Alison Felix Economist and Branch Executive Federal Reserve Bank of Kansas City Denver Branch.   www.kansascityfed.org/~/media/files/publicat/speeches/2019/2019-felix-cada-09-06.pdf

September 6, 2019 - Emerging Trends in the U.S. and Wyoming Economies By Sam Chapman Associate Economist Federal Reserve Bank of Kansas City Denver Branch.   www.kansascityfed.org/~/media/files/publicat/speeches/2019/2019-chapman-wyworking-09-06.pdf

September 6, 2019 - Sellin' in the Rain: Adaptation to Weather and Climate in the Retail Sector - Brigitte Roth Tran - Using novel methodology and proprietary daily store-level sporting goods and apparel brand data, I find that, consistent with long-run adaptation to climate, sales sensitivity to weather declines with historical norms and variability of weather. www.federalreserve.gov/econres/feds/files/2019067pap.pdf

September 6, 2019 - Globalization and the Geography of Capital Flows - Carol C. Bertaut, Beau Bressler, and Stephanie Curcuru - After the global financial crisis, the G20 supported efforts to improve global capital flow and investment statistics, with the goal of better understanding cross-border financial linkages and investor exposures.  www.federalreserve.gov/econres/notes/feds-notes/globalization-and-the-geography-of-capital-flows-20190906.htm

September 6, 2019 - Publications - Efforts of the U.S. Department of the Treasury and the Board of Governors of the Federal Reserve System with respect to Global Insurance Regulatory or Supervisory Forums.  www.federalreserve.gov/publications/efforts-of-the-treasury-and-federal-reserve-system-with-respect-to-global-insurance-regulatory-supervisory-forums.htm

September 6, 2019 - FOIA - Chair Powell's calendar, July 2019.  www.federalreserve.gov/foia/chairman-powell-calendar-072019.htm

September 6, 2019 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update.  www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

September 6, 2019 - Federal Reserve Board invites public comment on proposal to establish capital requirements for certain insurance companies supervised by the Board The proposal builds on existing state-based insurance standards, while also establishing minimum capital requirements that are specific to the business of insurance. www.federalreserve.gov/newsevents/pressreleases/bcreg20190906a.htm

September 5, 2019 - Policy Uncertainty and Bank Mortgage Credit - Gazi I. Kara and Youngsuk Yook - We document that banks reduce supply of jumbo mortgage loans when policy uncertainty increases as measured by the timing of US gubernatorial elections in banks' headquarter states. www.federalreserve.gov/econres/feds/files/2019066pap.pdf

September 5, 2019 - Federal Reserve Board announces approval of application by Hancock Whitney Corporation.  www.federalreserve.gov/newsevents/pressreleases/orders20190905a.htm
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September 5, 2019 - Detroit Economic Activity Index - The Detroit Economic Activity Index measures growth in economic activity for the city of Detroit. The index is constructed using a mixed-frequency dynamic factor model of 23 Detroit-specific data series capturing income, employment, residential and commercial real estate activity, electric customer counts, tax revenues, and port activity. www.chicagofed.org/publications/deai/index

September 5, 2019 - FDIC-Insured Institutions Report Net Income of $62.6 Billion in Second Quarter 2019 - For the 5,303 commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation, aggregate net income totaled $62.6 billion in second quarter 2019, an increase of $2.5 billion (4.1 percent) from a year earlier. www.fdic.gov/news/news/press/2019/pr19078.html

September 5, 2019 - FDIC Issues List of Banks Examined for CRA Compliance - The list covers evaluation ratings that the FDIC assigned to institutions in June 2019. www.fdic.gov/news/news/press/2019/pr19077.html

September 5, 2019 - Policy Uncertainty and Bank Mortgage Credit - Gazi I. Kara and Youngsuk Yook - We document that banks reduce supply of jumbo mortgage loans when policy uncertainty increases as measured by the timing of US gubernatorial elections in banks' headquarter states. www.federalreserve.gov/econres/feds/2019.htm#2019066

September 5, 2019 - Payment Systems - $1 Coin Quarterly Inventories, Payments, and Receipts, Q2 update.   www.federalreserve.gov/paymentsystems/coin_data.htm

September 5, 2019 - Regulatory Reform - Communications with the public through September 5, 2019.  www.federalreserve.gov/reform.htm

September 5, 2019 - Speech by Vice Chair for Supervision Quarles on refining the stress capital buffer At Program on International Financial Systems Conference, Frankfurt, Germany.   www.federalreserve.gov/newsevents/speech/quarles20190905a.htm

September 5, 2019 - Federal Reserve Board issues enforcement action with First State Bank Nebraska and announces termination of enforcement action with American Express Bank International.   www.federalreserve.gov/newsevents/pressreleases/enforcement20190905a.htm

September 4, 2019 - North American Trade and the Auto Sector: Welcome and Opening Remarks A speech presented on September 4, 2019, at Forging a New Path for North American Trade: The Auto Sector, a conference in Detroit, MI. www.chicagofed.org/publications/speeches/2019/north-american-trade-and-auto-sector

September 4, 2019 - NCUA Releases Q2 2019 Credit Union System Performance Data - Data on the financial performance of federally insured credit unions for the quarter ending June 30, 2019, are now available from the National Credit Union Administration. www.ncua.gov/newsroom/press-release/2019/ncua-releases-q2-2019-credit-union-system-performance-data

September 4, 2019 - Chairman Hood: NCUA Will Take Phased Approach to Implement FOM Rule - National Credit Union Administration Chairman Rodney E. Hood issued the following detailed statement in response to the Aug. 20, 2019, D.C. Circuit Court of Appeals decision in American Bankers Association v. National Credit Union Administration: www.ncua.gov/newsroom/press-release/2019/chairman-hood-ncua-will-take-phased-approach-implement-fom-rule

September 4, 2019 - Does Trade Policy Uncertainty Affect Global Economic Activity? - Dario Caldara, Matteo Iacoviello, Patrick Molligo, Andrea Prestipino, and Andrea Raffo - Trade negotiations and proposals for a new approach to trade policy have become the focus of increased attention among investors, politicians, and market participants. www.federalreserve.gov/econres/notes/feds-notes/does-trade-policy-uncertainty-affect-global-economic-activity-20190904.htm

September 4, 2019 - The Economic Effects of Trade Policy Uncertainty - Dario Caldara, Matteo Iacoviello, Patrick Molligo, Andrea Prestipino, and Andrea Raffo - We study the effects of unexpected changes in trade policy uncertainty on the U.S. economy. www.federalreserve.gov/econres/ifdp/files/ifdp1256.pdf

September 4, 2019 - Report to the Congress - Government-Administered, General-Use Prepaid Cards, September 2019 - The Board's annual report to the Congress on the use of general-use prepaid cards in federal, state, and local government-administered payment programs and on the interchange fees and cardholder fees charged with respect to the use of those cards. www.federalreserve.gov/publications/government-prepaid-executive.htm

September 4, 2019 - Beige Book - Informal review by the Federal Reserve Banks of current economic conditions in their Districts.  www.federalreserve.gov/monetarypolicy/beigebook201909.htm

September 4, 2019 - Introductory remarks by Governor Bowman At a Fed Listens Event sponsored by the Federal Reserve Bank of St. Louis, St. Louis, Missouri.   www.federalreserve.gov/newsevents/speech/bowman20190904a.htm

September 3, 2019 - Speakers Announced for 2019 Community Banking Research Conference - Featured speakers have been announced for the seventh annual Community Banking in the 21st Century research and policy conference that will be held Oct. 1-2, 2019, at the Federal Reserve Bank of St. Louis: www.stlouisfed.org/news-releases/2019/09/speakers-announced-for-2019-community-banking-research-conference

September 3, 2019 - Statistical Release - Foreign Exchange Rates - G.5 - The table below shows the average rates of exchange in AUGUST 2019 together with comparable figures for other months. www.federalreserve.gov/releases/g5/current/default.htm

September 3, 2019 - Improving the Accuracy of Economic Measurement with Multiple Data Sources: The Case of Payroll Employment Data - Tomaz Cajner, Leland D. Crane, Ryan A. Decker, Adrian Hamins-Puertolas, Christopher Kurz - This paper combines information from two sources of U.S. private payroll employment to increase the accuracy of real-time measurement of the labor market. www.federalreserve.gov/econres/feds/files/2019065pap.pdf

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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