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

The E-mail Banking News
for the week of June 18, 2017

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

June 16, 2017 - The Office of the Comptroller of the Currency (OCC) 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. https://www.occ.treas.gov/news-issuances/news-releases/2017/nr-occ-2017-67.html

June 15, 2017 - Statistical Release - Industrial Production and Capacity Utilization - G.17 - Industrial production was unchanged in May following a large increase in April and smaller increases in February and March. www.federalreserve.gov/releases/g17/Current/default.htm

June 14, 2017 - NCUA - McWatters Discusses Goals for Change - Credit unions can expect more regulatory relief and streamlined operations from the National Credit Union Administration in the future, Acting Board Chairman J. Mark McWatters said today. www.ncua.gov/newsroom/Pages/news-2017-june-mcwatters-discusses-goals-change.aspx

June 14, 2017 - NCUA - Board Re-Schedules June Meetings - The National Credit Union Administration Board has re-scheduled its June open and closed meetings. www.ncua.gov/newsroom/Pages/news-2017-june-board-reschedules-meetings.aspx

June 14, 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 June 13, 2017, and continued on Wednesday, June 14, 2017, at 9:00 a.m. Matter considered: Discussion of Monetary Policy Issues. www.federalreserve.gov/aboutthefed/boardmeetings/20170613closed.htm

June 14, 2017 - FOMC issues addendum to the Policy Normalization Principles and Plans - Addendum to the Policy Normalization Principles and Plans - All participants agreed to augment the Committee's Policy Normalization Principles and Plans by providing the following additional details regarding the approach the FOMC intends to use to reduce the Federal Reserve's holdings of Treasury and agency securities once normalization of the level of the federal funds rate is well under way. www.federalreserve.gov/newsevents/pressreleases/monetary20170614c.htm

June 14, 2017 - Federal Reserve Board and Federal Open Market Committee release economic projections from the June 13-14 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 June 13-14 meeting. www.federalreserve.gov/newsevents/pressreleases/monetary20170614b.htm

June 14, 2017 - Federal Reserve issues FOMC statement - Information received since the Federal Open Market Committee met in May 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/monetary20170614a.htm

June 13, 2017 - Federal Reserve Board announces termination of enforcement action with Bank of the Orient.  www.federalreserve.gov/newsevents/pressreleases/enforcement20170613a.htm

June 12, 2017 - FDIC Consumer News Issues Warning About 10 Scams Targeting Bank Customers - The FDIC often hears from bank customers who believe they may be the victims of financial fraud or thefts. The Summer 2017 FDIC Consumer News alerts the public to common scams and provides basic tips for protecting personal information and money. www.fdic.gov/news/news/press/2017/pr17045.html

June 12, 2017 - State Credit Union Data Show Growth Trends Continuing in First Quarter of 2017 - Federally insured credit unions across the country saw continued improvement in nearly every category during the first 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-june-state-credit-union-data-growth-trends-q1-2017.aspx

June 12, 2017 - NCUA Charters Community HOPE Federal Credit Union - New Credit Union Will Provide Affordable Financial Services to a Low-Income Community in Lincoln, Nebraska - The National Credit Union Administration has granted a federal charter and Share Insurance Fund coverage to Community HOPE Federal Credit Union in Lincoln, Nebraska. www.ncua.gov/newsroom/Pages/news-2017-june-ncua-charters-community-hope-federal-credit-union.aspx

June 9, 2017 - Description: Shortening the Settlement Cycle - The Office of the Comptroller of the Currency is issuing this bulletin to highlight actions that national banks and federal savings associations should take to prepare for the change in the regular securities settlement cycle for most U.S. securities transactions. The change becomes effective on September 5, 2017. www.occ.treas.gov/news-issuances/bulletins/2017/bulletin-2017-22.html

June 9, 2017 - Female Labor Supply and Why Women Need to Be Included in Economic Models By Mariacristina De Nardi , Sharada Dharmasankar - Women contribute a large fraction of aggregate labor hours, earnings, and labor force participation. www.chicagofed.org/publications/chicago-fed-letter/2017/380

June 9, 2017 - Changes in the Risk-Management Environment for Monetary Policy By Jonas D. M. Fisher , François Gourio , Spencer Krane - In response to the massive challenges presented by the global financial crisis, in late 2007 the Federal Open Market Committee began a series of large reductions in its traditional policy tool, the overnight interest rate in the federal funds market. www.chicagofed.org/publications/chicago-fed-letter/2017/377

June 9, 2017 - Regulatory Reform - Communications with the public through June 9, 2017 - The Federal Reserve Board will be involved in many rulemakings to implement the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. www.federalreserve.gov/regreform/communications-with-public.htm

June 9, 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 PM on June 13, 2017. Matter to be considered: Discussion of Monetary Policy Issues. www.federalreserve.gov/aboutthefed/boardmeetings/20170613closed.htm

June 9, 2017 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

June 8, 2017 - Report to the Congress - Annual Report 2016 - Report on operations of the Board during the year. Provides minutes of Federal Open Market Committee meetings, financial statements of the Board and combined financial statements of the Reserve Banks, financial statements for Federal Reserve priced services, information on other services provided by the Reserve Banks, directories of Federal Reserve officials and advisory committees, statistical tables, and maps showing the System's District and Branch boundaries. www.federalreserve.gov/publications/annual-report.htm

June 8, 2017 - Statistical Release - Financial Accounts of the United States - Z.1 - The Financial Accounts of the United States includes data on the flow of funds and levels of financial assets and liabilities, by sector and financial instrument; full balance sheets, including net worth, for households and nonprofit organizations, nonfinancial corporate businesses, and nonfinancial noncorporate businesses; Integrated Macroeconomic Accounts; and additional supplemental detail. www.federalreserve.gov/releases/z1/current/

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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