R. Kinney Williams - Yennik, Inc.®
R. Kinney Williams
Yennik, Inc.

The E-mail Banking News
for the week of March 26, 2017

Published by Yennik, Inc. the acknowledged leader in independent IT & cybersecurity audits.

March 23, 2017 - NCUA - Field-of-Membership Webinar and Questions and Answers Now Online - NCUA Plans to Issue Additional Guidance on New Rule in the Coming Months - Credit union stakeholders wanting more information about the National Credit Union Administration's new field-of-membership rule can now watch the agency’s webinar online and review questions and answers from the event. www.ncua.gov/newsroom/Pages/news-2017-march-field-membership-webinar-questions-answers-online.aspx

March 23, 2017 - OCC Reports Fourth Quarter 2016 Bank Trading Revenue Increased to $6 Billion - Trading revenue of U.S. commercial banks and savings associations increased to $6 billion in the fourth quarter of 2016, $1.7 billion higher than the fourth quarter a year earlier, according to a report released today by the Office of the Comptroller of the Currency. www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-34.html

March 23, 2017 - Welcoming remarks by Chair Janet L. Yellen At "Strong Foundations: The Economic Futures of Kids and Communities," the 10th Biennial Federal Reserve System Community Development Research Conference, Washington, D.C. www.federalreserve.gov/newsevents/speech/yellen20170323a.htm

March 23, 2017 - Federal Reserve Board issues enforcement action with Santander Holdings USA, Inc., and announces termination of enforcement action with HCSB Financial Corporation.   www.federalreserve.gov/newsevents/pressreleases/enforcement20170323a.htm

March 21, 2017 - Testing for Competitive Effects of Common Ownership - Jacob Gramlich and Serafin Grundl - We propose an alternative approach for analyzing the competitive effects of common ownership: to directly analyze the weights that firms place on each others' profits rather than using measures of industry concentration. www.federalreserve.gov/econres/feds/files/2017029pap.pdf

March 21, 2017 - The Skewness of the Price Change Distribution: A New Touchstone for Sticky Price Models - Shaowen Luo and Daniel Villar - We present a new way of empirically evaluating various sticky price models used to assess the degree of monetary non-neutrality. www.federalreserve.gov/econres/feds/files/2017028pap.pdf

March 21, 2017 - Looking Inside the Magic 8 Ball: An Analysis of Sales Forecasts using Italian Firm-Level Data - Maria D. Tito - This paper explores firm forecasting strategies. Using Italian data, we focus on two aspects of the forecasting process: how firms forecast sales and how accurate their predictions are. www.federalreserve.gov/econres/feds/files/2017027pap.pdf

March 21, 2017 - International Illiquidity - Aytek Malkhozov, Philippe Mueller, Andrea Vedolin, and Gyuri Venter - We build a parsimonious international asset pricing model in which deviations of government bond yields from a fitted yield curve of a country measure the tightness of investors' capital constraints. www.federalreserve.gov/econres/ifdp/files/ifdp1201.pdf

March 21, 2017 - Capital-Task Complementarity and the Decline of the U.S. Labor Share of Income - Musa Orak - This paper provides evidence that shifts in the occupational composition of the U.S. workforce are the most important factor explaining the trend decline in the labor share over the past four decades. www.federalreserve.gov/econres/ifdp/files/ifdp1200.pdf

March 21, 2017 - Federal Reserve System's Community Development Research Conference to focus on economic futures of kids and communities.  https://www.federalreserve.gov/newsevents/pressreleases/other20170321a.htm

March 21, 2017 - Banking agencies issue joint report to Congress under the Economic Growth and Regulatory Paperwork Reduction Act of 1996 - Continuing their efforts to reduce regulatory burdens while ensuring the safety and soundness of the nation's financial institutions, member agencies of the Federal Financial Institutions Examination Council today issued a joint report to Congress detailing their review of rules affecting financial institutions.
Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20170321a.htm
Press Release: www.fdic.gov/news/news/press/2017/pr17022.html
Press Release: www.ffiec.gov/press/pr032117.htm
Press Release: www.occ.gov/news-issuances/news-releases/2017/nr-ia-2017-33.html
Press Release: www.ncua.gov/newsroom/Pages/news-march-2017-banking-agencies-issue-joint-report-congress.aspx

March 21, 2017 - Federal Reserve System's Community Development Research Conference to focus on economic futures of kids and communities - The Federal Reserve System's 10th biennial Community Development Research Conference convenes on March 23 in Washington, D.C. www.federalreserve.gov/newsevents/pressreleases/other20170321a.htm

March 20, 2017 - Chicago Fed National Activity Index - Index shows economic growth increased in February - Led by improvements in employment-related indicators, the Chicago Fed National Activity Index increased to +0.34 in February from –0.02 in January. www.chicagofed.org/~/media/publications/cfnai/2017/cfnai-march2017-pdf.pdf

March 20, 2017 - Understanding Global Trends in Long-run Real Interest Rates - By Kei-Mu Yi , Jing Zhang - Real, or inflation-adjusted, interest rates may well be the most important prices for any nation’s economy. They govern intertemporal purchasing decisions facing households, firms, and all levels of government. www.chicagofed.org/publications/economic-perspectives/2017/2-yi-zhang

March 20, 2017 - NCUA - February 2017 NCUA Board Meeting Video Available - The video recording of the Feb. 23, 2017, open meeting of the National Credit Union Administration Board is now available on the agency’s website. www.ncua.gov/newsroom/Pages/news-2017-march-february-board-meeting-video-available.aspx

March 20, 2017 - NCUA - Foster Chosen as Public and Congressional Affairs Director - Bob Foster has been selected as Director of the National Credit Union Administration’s Office of Public and Congressional Affairs, the agency announced today. www.ncua.gov/newsroom/Pages/news-2017-march-foster-chosen-public-congressional-affairs-director.aspx

March 20, 2017 - Legal Interpretations - Bank Holding Companies/Savings and Loan Holding Companies/Change in Control - 2017 Letters www.federalreserve.gov/supervisionreg/legalinterpretations/bhc_changeincontrol2017.htm

March 20, 2017 - Federal Reserve Board's website has a new design - The Federal Reserve Board's website (www.federalreserve.gov) has a new design and additional features to improve the experience of visitors seeking information about the Federal Reserve and its actions. www.federalreserve.gov/newsevents/pressreleases/other20170320a.htm

March 17, 2017 - NCUA - Gulf Winds Federal Credit Union Assumes FCAMEC’s Members and Deposits - Member Deposits Remain Protected up to $250,000 by Share Insurance Fund - Gulf Winds Federal Credit Union, of Pensacola, Florida, has assumed the members and deposits of the former Florida Conference AME Church Federal Credit Union of Tallahassee, the National Credit Union Administration announced today. www.ncua.gov/newsroom/Pages/news-2017-march-gulf-winds-fcu-assumes-fcamec-members-deposits.aspx

March 17, 2017 - NCUA - FCAMEC Federal Credit Union Closes - Member Deposits Protected up to $250,000 by Share Insurance Fund - The National Credit Union Administration today liquidated Florida Conference AME Church Federal Credit Union of Tallahassee, Florida. www.ncua.gov/newsroom/Pages/fcamec-closure.aspx

March 17, 2017 - OCC Enforcement Actions and Terminations for March 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-2017-32.html 

March 17, 2017 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update - Since the beginning of the financial market turmoil in August 2007, the Federal Reserve's balance sheet has grown in size and has changed in composition. Total assets of the Federal Reserve have increased significantly from $869 billion on August 8, 2007, to well over $2 trillion. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

March 17, 2017 - Industrial Production and Capacity Utilization - G.17 - Industrial production was unchanged in February following a 0.1 percent decrease in January. www.federalreserve.gov/releases/g17/Current/default.htm

March 16, 2017 - Federal Reserve Board announces approval of application by People’s United Financial, Inc. - The Federal Reserve Board on Thursday announced its approval of the application under section 3 of the Bank Holding Company Act of 1956 by People's United Financial, Inc., Bridgeport, Connecticut, to merge with Suffolk Bancorp and thereby indirectly acquire. www.federalreserve.gov/newsevents/press/orders/20170316a.htm 

Please don't hesitate to email me (examiner@yennik.com) if you have any questions.  Have a great week,

R. Kinney Williams, President
Certified Financial Examiner
Yennik, Inc.

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