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

The E-mail Banking News
for the week of November 19, 2017

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



November 16, 2017 - OCC Enforcement Actions and Terminations for November 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-2017-135.html

November 16, 2017 - Statistical Release - Industrial Production and Capacity Utilization - G.17 - Industrial production rose 0.9 percent in October, and manufacturing increased 1.3 percent. The index for utilities rose 2.0 percent, but mining output fell 1.3 percent, as Hurricane Nate caused a sharp but short-lived decline in oil and gas drilling and extraction. www.federalreserve.gov/releases/g17/Current/

November 15, 2017 - Low Inflation and the Symmetry of the 2 Percent Target A speech delivered on November 15, 2017, before the UBS European Conference in London, England. www.chicagofed.org/publications/speeches/2017/11-15-2017-low-inflation-and-symmetry-of-two-percent-target-charles-evans-london-ubs 

November 15, 2017 - Branches and Relocations: Revised Comptroller’s Licensing Manual Booklet - The Office of the Comptroller of the Currency issued today the “Branches and Relocations” booklet of the Comptroller’s Licensing Manual, which replaces the booklet of the same title issued in October 2009. www.occ.treas.gov/news-issuances/bulletins/2017/bulletin-2017-54.html

November 15, 2017 - The U.S. Economic Outlook - Nicholas Sly Assistant Vice President and Economist Federal Reserve Bank of Kansas City.   www.kansascityfed.org/~/media/files/publicat/speeches/2017/2017-sly-efpueblo-10-04.pdf

November 15, 2017 - Emerging Trends in the Colorado Economy By Alison Felix Economist and Branch Executive Federal Reserve Bank of Kansas City Denver Branch.  www.kansascityfed.org/~/media/files/publicat/speeches/2017/2017-felix-efpueblo-10-04.pdf

November 15, 2017 - Banker Teleconference Series: Small Business Resources for Community Banks - Timely and Comprehensive Information and Insights from the FDIC - The FDIC will discuss small business resources and research pertinent to community banks, including the Money Smart for Small Businesses financial education program; the FDIC's Small Business Lending Survey; and Community Reinvestment Act consideration for small business lending, services, and investments. www.fdic.gov/news/news/financial/2017/fil17059.html

November 15, 2017 - Speech by Governor Lael Brainard - Regional Food Systems and Community Development.  https://www.federalreserve.gov/newsevents/speech/files/brainard20171115a.pdf

November 15, 2017 - The Potential Increase in Corporate Debt Interest Rate Payments from Changes in the Federal Funds Rate - This note studies the response of interest expenses of U.S. nonfinancial corporations to an increase in interest rates. www.federalreserve.gov/econres/notes/feds-notes/potential-increase-in-corporate-debt-interest-rate-payments-from-changes-in-the-federal-funds-rate-20171115.htm

November 15, 2017 - Bank Holding Company Supervision Manual, semiannual update - Provides guidance for conducting inspections of bank holding companies and their nonbank subsidiaries. www.federalreserve.gov/publications/supervision_bhc.htm

November 15, 2017 - Federal Reserve Board announces approval of application by South State Corporation - The Federal Reserve Board on Wednesday announced its approval of the application under section 3 of the Bank Holding Company Act of 1956 by South State Corporation, Columbia, South Carolina, to acquire Park Sterling Corporation and thereby indirectly acquire PSC's subsidiary bank, Park Sterling Bank, both of Charlotte, North Carolina. www.federalreserve.gov/newsevents/pressreleases/orders20171115a.htm

November 14, 2017 - Business Combinations: Revised Comptroller’s Licensing Manual Booklet - The Office of the Comptroller of the Currency issued today the “Business Combinations” booklet of the Comptroller’s Licensing Manual. www.occ.treas.gov/news-issuances/bulletins/2017/bulletin-2017-53.html

November 14, 2017 - Fed’s Evans Talks about the Future of Odyssean and Delphic Guidance - A speech delivered on November 14, 2017, before the European Central Bank Conference in Frankfurt, Germany. www.chicagofed.org/publications/speeches/2017/11-14-2017-future-odyssean-and-delphic-guidance-charles-evans-frankfurt-ecb

November 14, 2017 - U.S. and Oklahoma Economic Update By Megan Williams - Associate Economist & Manager, Oklahoma City Branch Federal Reserve Bank of Kansas City.   www.kansascityfed.org/~/media/files/publicat/speeches/2017/2017-williams-afp-11-17.pdf

November 14, 2017 - St. Louis Fed's Bullard Discusses the Question of When U.S. Inflation Will Return to Target - Federal Reserve Bank of St. Louis President James Bullard gave remarks on “When Will U.S. Inflation Return to Target?” at the Economic Update Breakfast hosted by the St. Louis Fed and the Association for Corporate Growth. www.stlouisfed.org/news-releases/2017/11/14/bullard-discusses-inflation-target

November 14, 2017 - Federal Reserve Board announces termination of enforcement action with Maple Leaf Financial, Inc.   www.federalreserve.gov/newsevents/pressreleases/enforcement20171114a.htm

November 13, 2017 - NCUA - Budget Briefing Video Available Online - The video recording of the Oct. 18 public briefing on the National Credit Union Administration’s proposed 2018-2019 budget is now available online. www.ncua.gov/newsroom/Pages/news-2017-nov-budget-briefing-video-available-online.aspx 

November 13, 2017 - NCUA Board Sets 2018 Meeting Schedule - The National Credit Union Administration Board today released its monthly meeting schedule for 2018. www.ncua.gov/newsroom/Pages/news-2017-nov-ncua-board-sets-2018-meeting-schedule.aspx

November 13, 2017 - U.S. and Oklahoma Economic Update By Megan Williams Associate Economist & Manager, Oklahoma City Branch Federal Reserve Bank of Kansas City.   www.kansascityfed.org/~/media/files/publicat/speeches/2017/2017-williams-mfg-alliance-11-17.pdf

November 13, 2017 - Common Factors, Trends, and Cycles in Large Datasets - Matteo Barigozzi and Matteo Luciani - This paper considers a non-stationary dynamic factor model for large datasets to disentangle long-run from short-run co-movements. We first propose a new Quasi Maximum Likelihood estimator of the model based on the Kalman Smoother and the Expectation Maximisation algorithm. www.federalreserve.gov/econres/feds/files/2017111pap.pdf

November 13, 2017 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

November 13, 2017 - Federal Reserve Board approves fee schedule for Federal Reserve Bank priced services - The Federal Reserve Board on Monday announced the approval of fee schedules, effective January 2, 2018, for payment services the Federal Reserve Banks provide to depository institutions. www.federalreserve.gov/newsevents/pressreleases/other20171113a.htm 

November 9, 2017 - AgLetter : November 2017 By David Oppedahl - In the third quarter of 2017, agricultural land values for the Seventh Federal Reserve District were down 1 percent from a year ago. www.chicagofed.org/publications/agletter/2015-2019/november-2017

November 9, 2017 - Statistical Release - Structure Data for U.S. Banking Offices of Foreign Entities - Data are collected as of the end of the month for March, June, September and December, and generally are released three months later. www.federalreserve.gov/releases/iba/default.htm
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November 9, 2017 - Revised Comptroller’s Licensing Manual Booklet - The Office of the Comptroller of the Currency issued today the “Background Investigations” booklet of the Comptroller’s Licensing Manual, which revises the booklet of the same title issued in April 2009. www.occ.treas.gov/news-issuances/bulletins/2017/bulletin-2017-52.html

November 9, 2017 - St. Louis Fed Recognized Again for Inclusive Culture - The Federal Reserve Bank of St. Louis was recognized for the second year in a row for the organization’s commitment to inclusive culture. www.stlouisfed.org/news-releases/2017/11/09/st-louis-fed-recognized-again-for-inclusive-culture

November 9, 2017 - St. Louis Fed Ag Survey: Farm Income Continues To Fall in Third Quarter - Farm income continued to decline in the Midwest and Mid-South during the third quarter of 2017, according to the latest Agricultural Finance Monitor published by the Federal Reserve Bank of St. Louis. www.stlouisfed.org/news-releases/2017/11/09/afm-1192017

November 9, 2017 - Proposed Revisions to the Consolidated Reports of Condition and Income for June 2018 - In their continuing effort to reduce data reporting and other burdens for small and large institutions, the federal banking agencies, as members of the Federal Financial Institutions Examination Council, are requesting comment on further burden-reducing revisions to all three versions of the Call Report. www.fdic.gov/news/news/financial/2017/fil17058.html

November 9, 2017 - October 2017 NCUA Board Meeting Video Available - The video recording of the Oct. 19, 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-nov-oct-ncua-board-meeting-video-available.aspx 

November 9, 2017 - NCUA Marks Veterans Day 2017 - Federally Insured Credit Unions Serve More Than 14 Million Service Members and Veterans - National Credit Union Administration Board Chairman J. Mark McWatters and Board Member Rick Metsger today issued statements on the eve of Veterans Day. www.ncua.gov/newsroom/Pages/news-2017-nov-veterans-day.aspx

November 8, 2017 - Impact of CRA Ratings on Licensing Applications - The Office of the Comptroller of the Currency is issuing guidance to provide transparency regarding its framework for evaluating certain types of licensing applications when an applicant bank has an overall Community Reinvestment Act rating of “Needs to Improve” or “Substantial Noncompliance” or a less than satisfactory CRA rating in one or more geographic rating areas. www.occ.treas.gov/news-issuances/bulletins/2017/bulletin-2017-51.html

November 8, 2017 - Acting Comptroller Explores the Separation of Banking and Commerce - Acting Comptroller of the Currency Keith A. Noreika today explored how the separation of banking and commerce evolved in the United States and called for a broader discussion of whether the separation continues to serve the best interest of the nation’s banking system and economy today. www.occ.gov/news-issuances/speeches/2017/pub-speech-2017-134.pdf

November 8, 2017 - U.S. and Oklahoma Economic Update - NAIOP Commercial Real Estate Development Association November 8, 2017 Chad Wilkerson Oklahoma City Branch Executive and Economist Federal Reserve Bank of Kansas City.  www.kansascityfed.org/~/media/files/publicat/speeches/2017/2017_wilkerson-commercial-real-estate-development-11-17.pdf

November 8, 2017 - St. Louis Fed Releases New Research on Household Debt “Tipping Points” - The Center for Household Financial Stability at the Federal Reserve Bank of St. Louis and the Private Debt Project of the Governor's Woods Foundation have published new research that was presented at the second “Tipping Points” symposium in June 2017. www.stlouisfed.org/news-releases/2017/11/8/st-louis-fed-releases-new-research-on-household-debt-tipping-points

November 8, 2017 - Proposed Revisions to the Consolidated Reports of Condition and Income for June 30, 2018 - The Federal Deposit Insurance Corporation, the Federal Reserve Board, and the Office of the Comptroller of the Currency are requesting comment on additional burden-reducing revisions to all three versions of the Consolidated Reports of Condition and Income. www.fdic.gov/news/news/financial/2017/fil17057.html

November 8, 2017 - Currency and Coin Services - $1 Coin Quarterly Inventories, Payments, and Receipts, Quarterly data updates.  www.federalreserve.gov/paymentsystems/coin_data.htm

November 8, 2017 - Legal Interpretations - Bank Holding Companies/Savings and Loan Holding Companies/Change in Control - 2017 Letters.   www.federalreserve.gov/supervisionreg/legalinterpretations/bhc_changeincontrol2017.htm

November 8, 2017 - Advisory Councils - Community Advisory Council - Record of Meeting, November 3, 2017 - The Community Advisory Council was formed by the Federal Reserve Board in 2015 to offer diverse perspectives on the economic circumstances and financial services needs of consumers and communities, with a particular focus on the concerns of low- and moderate-income populations. www.federalreserve.gov/aboutthefed/cac.htm

November 7, 2017 - Mexico’s Growing Role in the Auto Industry Under NAFTA: Who Makes What and What Goes Where By Thomas H. Klier , James Rubenstein - Mexico has become one of the world’s leading producers and exporters of motor vehicles, although it has no automakers of its own. www.chicagofed.org/publications/economic-perspectives/2017/6

November 7, 2017 - Blockchain and Financial Market Innovation By Rebecca Lewis , John W. McPartland , Rajeev Ranjan - Introduction and summary - Blockchain technology is likely to be a key source of future financial market innovation. It allows for the creation of immutable records of transactions accessible by all participants in a network. www.chicagofed.org/publications/economic-perspectives/2017/7

November 7, 2017 - Subordinated Debt: Revised Comptroller’s Licensing Manual Booklet - The Office of the Comptroller of the Currency issued today the “Subordinated Debt” booklet of the Comptroller’s Licensing Manual. This revised booklet replaces the booklet of the same title issued in November 2003 and the related guidance issued April 3, 2015. www.occ.treas.gov/news-issuances/bulletins/2017/bulletin-2017-50.html

November 7, 2017 - IFDP Notes - A New Dataset of Macroprudential Policy Governance Structures - Ricardo Correa, Rochelle M. Edge, and Nellie Liang - Governance structures are a critical part of a framework for implementing macroprudential policy, alongside methodologies for measuring and monitoring systemic risk, and analyses to understand the impact of policies that may be used to mitigate risk. www.federalreserve.gov/econres/notes/ifdp-notes/new-dataset-of-macroprudential-policy-governance-structures-20171107.htm

November 7, 2017 - Statistical Release - Consumer Credit - G.19 - Consumer credit increased at a seasonally adjusted annual rate of 5-1/2 percent during the third quarter. Both revolving and nonrevolving credit increased at similar annual rates. In September, consumer credit increased at an annual rate of 6-3/4 percent. www.federalreserve.gov/releases/g19/current/default.htm

November 7, 2017 - Speech by Chair Janet L. Yellen - Remarks accepting the 2017 Paul H. Douglas Award for Ethics in Government.   www.federalreserve.gov/newsevents/speech/yellen20171107a.htm

November 7, 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 2:00 p.m. on November 9, 2017. Matter(s) considered: Bank Supervisory Matter. www.federalreserve.gov/aboutthefed/boardmeetings/20171109closed.htm

November 6, 2017 - Randal K. Quarles sworn in as member of the Board of Governors of the Federal Reserve System and as Vice Chair for Supervision - Randal K. Quarles was ceremonially sworn in as a member of the Board of Governors of the Federal Reserve System and as Vice Chair for Supervision on Monday in the atrium of the Board's Eccles building in Washington. www.federalreserve.gov/newsevents/pressreleases/other20171106a.htm

November 3, 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/pr17085.html

November 3, 2017 - Federal Reserve Board announces annual indexing of reserve requirement exemption amount and of low reserve tranche for 2018.   www.federalreserve.gov/newsevents/pressreleases/bcreg20171103a.htm

November 3, 2017 - Chair Yellen's calendar - Chair Yellen's calendar archive since February 2014. www.federalreserve.gov/foia/chairscalendar.htm

November 3, 2017 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update . www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

November 3, 2017 - An Assessment of the National Establishment Time Series Database - Keith Barnatchez, Leland D. Crane, and Ryan A. Decker - The National Establishment Time Series is a private sector source of U.S. business microdata. www.federalreserve.gov/econres/feds/files/2017110pap.pdf

November 3, 2017 - Mechanics of linear quadratic Gaussian rational inattention tracking problems - Chad Fulton - This paper presents a general framework for constructing and solving the multivariate static linear quadratic Gaussian rational inattention tracking problem. www.federalreserve.gov/econres/feds/files/2017109pap.pdf  

November 3, 2017 - The Great Recession and a Missing Generation of Exporters - William F. Lincoln, Andrew H. McCallum, and Michael Siemer - The collapse of international trade surrounding the Great Recession has garnered significant attention. www.federalreserve.gov/econres/feds/files/2017108pap.pdf

November 3, 2017 - What's the Story? A New Perspective on the Value of Economic Forecasts - Steven A. Sharpe, Nitish R. Sinha, and Christopher A. Hollrah - We apply textual analysis tools to measure the degree of optimism versus pessimism of the text that describes Federal Reserve Board forecasts published in the Greenbook.   www.federalreserve.gov/econres/feds/files/2017107pap.pdf

November 3, 2017 - Having a Lot Isn't Enough: Trends in Upsizing Houses and Shrinking Lots - Dillon Bowen and Geng Li - Properties like those in Figure 1 from a suburban community in Atlanta, Georgia, were a rare sight twenty or thirty years ago. www.federalreserve.gov/econres/notes/feds-notes/trends-in-upsizing-houses-and-shrinking-lots-20171103.htm

November 3, 2017 - Federal Reserve Board announces annual indexing of reserve requirement exemption amount and of low reserve tranche for 2018.   www.federalreserve.gov/newsevents/pressreleases/bcreg20171103a.htm

November 2, 2017 - Acting Comptroller Discusses Efforts to Promote Lending and Investment in Distressed Communities - Acting Comptroller of the Currency Keith A. Noreika today discussed efforts by the Office of the Comptroller of the Currency to support lending and investment in distressed communities. www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-133.html

November 2, 2017 - The three federal banking agencies, as members of the Federal Financial Institutions Examination Council, are proposing additional revisions to streamline the "Call Report" as part of their efforts to reduce data reporting and other burdens for financial institutions. www.ffiec.gov/press/pr110217.htm

November 2, 2017 - Statement by Federal Reserve Board Chair Yellen on the nomination of Governor Powell by President Trump.   www.federalreserve.gov/newsevents/pressreleases/other20171102b.htm

November 2, 2017 - Statement by Federal Reserve Board Governor Powell on his nomination by President Trump www.federalreserve.gov/newsevents/pressreleases/other20171102a.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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