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

The E-mail Banking News
for the week of April 30, 2017

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



Fourth bank to close this year - April 28, 2017 - First NBC Bank, New Orleans, was closed today by the Louisiana Office of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Whitney Bank, Gulfport, Mississippi. No depositor is losing money as a result of this transaction. https://www.fdic.gov/news/news/press/2017/pr17034.html

April 27, 2017 - Tracking Detroitís Economic Recovery After Bankruptcy with a New Index By Scott A. Brave , Paul Traub - This article presents evidence that Detroitís economy is doing noticeably better than before the city filed for bankruptcy in July 2013. In order to track the cityís economic recovery following its bankruptcy, we use a new index that quantifies Detroitís overall economic performance from 1998 to the present. www.chicagofed.org/publications/chicago-fed-letter/2017/376

April 27, 2017 - Chicago Fed President Charles Evans discusses the economy's performance in 2016. www.chicagofed.org/publications/annual-report/2016-annual-report

April 27, 2017 - OCC Hosts Risk Governance and Compliance Workshops in Oklahoma - The Office of the Comptroller of the Currency will host two workshops in Oklahoma City at the Aloft Oklahoma City Downtown-Bricktown, June 6-7, for directors of national community banks and federal savings associations supervised by the OCC. www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-47.html

April 26, 2017 - St. Louis Fedís Louisville Branch Helps Teach Children to Save - The Louisville Branch of the Federal Reserve Bank of St. Louis is proud to participate in Teach Children to Save Day as part of Financial Literacy Month. www.stlouisfed.org/news-releases/2017/04/26/st-louis-fed-louisville-branch-helps-teach-children-to-save

April 26, 2017 - Federal Reserve Board announces approval of application by Community Bank System, Inc. - The Federal Reserve Board on Wednesday announced its approval of the application under section 3 of the Bank Holding Company Act of 1956 by Community Bank System, Inc., DeWitt, New York, to acquire Merchants Bancshares, Inc., South Burlington, Vermont. www.federalreserve.gov/newsevents/pressreleases/orders20170426a.htm

April 25, 2017 - OCC Fines U.S. Bank National Association $15 Million for Bankruptcy Filing Violations - The Office of the Comptroller of the Currency today assessed a $15 million civil money penalty against U.S. Bank National Association for bankruptcy filing violations. www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-46.html

April 25, 2017 - NCUA Grants Firefighters First a Federal Charter - The National Credit Union Administration has granted a federal charter and Share Insurance Fund coverage to Firefighters First Federal Credit Union of Los Angeles. www.ncua.gov/newsroom/Pages/news-2017-april-ncua-grants-charter.aspx

April 25, 2017 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at 10:00 AM on April 25, 2017. Matter considered: Periodic Briefing and Discussion on Financial Markets, Institutions, and Infrastructure. www.federalreserve.gov/aboutthefed/boardmeetings/20170425closed.htm

April 24, 2017 - Chicago Fed National Activity Index - Index points to slower economic growth in March - Led by slower growth in employment-related indicators, the Chicago Fed National Activity Index (CFNAI) moved down to +0.08 in March from +0.27 in February. www.chicagofed.org/~/media/publications/cfnai/2017/cfnai-april2017-pdf.pdf

April 24, 2017 - OCC Hosts Mutual Savings Association Advisory Committee Meeting May 9 - The Office of the Comptroller of the Currency today announced it will host a public meeting of the Mutual Savings Association Advisory Committee Tuesday, May 9, 2017, beginning at 8:30 a.m. Eastern Daylight Time. www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-45.html

April 24, 2017 - FDIC Advisory Committee on Economic Inclusion to Meet This Week - The Federal Deposit Insurance Corporation Advisory Committee on Economic Inclusion will meet on Thursday, April 27 to discuss measures banks may consider to reach underserved populations, such as collaborations with community-based organizations; resources for affordable mortgage lending; and new research that may be used to more effectively target resources to promote broader access to bank branches in underserved neighborhoods.  www.fdic.gov/news/news/press/2017/pr17031.html

April 24, 2017 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at 11:15 AM on April 24, 2017. Matter 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/20170424closed.htm

April 24, 2017 - Agencies announce Wells Fargo has remediated resolution plan deficiencies - The Federal Deposit Insurance Corporation and the Federal Reserve Board on Monday announced that Wells Fargo had adequately remediated the deficiencies in its 2015 resolution plan.
Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20170424a.htm
Press Release: www.fdic.gov/news/news/press/2017/pr17032.html

April 21, 2017 - Pipeline Risk in Leveraged Loan Syndication - Max Bruche, Frederic Malherbe, and Ralf R. Meisenzahl. www.federalreserve.gov/econres/feds/files/2017048pap.pdf

April 21, 2017 - The Cyclical Behavior of Unemployment and Wages under Information Frictions - www.federalreserve.gov/econres/feds/files/2017047pap.pdf

April 21, 2017 - Advance 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 10:00 a.m. on April 25, 2017. Matter to be considered: Periodic Briefing and Discussion on Financial Markets, Institutions, and Infrastructure. www.federalreserve.gov/aboutthefed/boardmeetings/20170425closed.htm

April 21, 2017 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update.  www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

April 21, 2017 - Advisory Council - Record of the Meeting of the Community Depository Institutions Advisory Council - Community Depository Institutions Advisory Council - The Community Depository Institutions Advisory Council was established in 2010 by the Board of Governors to provide input to the Board on the economy, lending conditions, and other issues of interest to community depository institutions. www.federalreserve.gov/aboutthefed/cdiac.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.

Independent Cybersecurity Pen-test Audits
Our cybersecurity pen-test firewall audit meets the independent diagnostic test requirements The audit focuses on a hacker's perspective, which will help your IT staff identify real-world weaknesses.  There is no charge if you are not satisfied with our service.  For more information, please call R. Kinney Williams at 806-798-7119, send an email to examiner@yennik.com, or visit http://www.internetbankingaudits.com/.


Professional organizations:
Information Systems Audit and Control Association
Society of Financial Examiners
Association of Credit Union Internal Auditors
The Institute of Internal Auditors

 

You may also receive this newsletter by email.  Go to https://yennik.com/newletter.htm for more information.  The various category comments may be excerpts from regulatory press releases, which can be found at the respective regulatory web site.  Our privacy statement can be found at http://www.yennik.com/privacy_statement.htm.

Copyright - Yennik, Inc.
Our logo above is registered with the United States Patent and Trademark Office.