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

The E-mail Banking News
for the week of February 16, 2020

Published by Yennik, Inc. the acknowledged leader in independent IT security audits for financial institutions.

Onsite FFIEC IT Audits in
New Mexico, Oklahoma, and Texas

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 your bank in Texas, New Mexico, Colorado, and Oklahoma.  Please drop Kinney Williams an email at examiner@yennik.com from your domain and I will email you information and fees.

February 14, 2020 - Ericson State Bank in Ericson, Nebraska, was closed today by the Nebraska Department of Banking and Finance, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect depositors, the FDIC entered into a purchase and assumption agreement with Farmers and Merchants Bank in Milford, Nebraska, to assume all of the deposits of Ericson State Bank. https://www.fdic.gov/news/news/press/2020/pr20011.html

February 13, 2020 - AgLetter - A quarterly newsletter on agricultural land values and credit conditions, based on data from the Bank's survey. - According to the most recent AgLetter, Seventh District farmland values in the fourth quarter of 2019 were largely the same as a year ago. www.chicagofed.org/publications/agletter/index

February 13, 2020 - Home Mortgage Disclosure Act: FFIEC Issues 2020 Version of A Guide to HMDA Reporting: Getting It Right! - The Federal Financial Institutions Examination Council has issued the 2020 edition of A Guide to HMDA Reporting Getting It Right! for Home Mortgage Disclosure Act-related data collected in 2020 and reported in 2021. www.fdic.gov/news/news/financial/2020/fil20009.html

February 13, 2020 - Currency and Bank Budgets - 2020 Federal Reserve Bank Budgets.  www.federalreserve.gov/foia/budgets.htm 

February 13, 2020 - Primer on the Forward-Looking Analysis of Risk Events Model: A Top-Down Stress Test Model Matthew P. Seay and Cindy M. Vojtech - FLARE estimates banking system capital under varying macroeconomic scenarios, time horizons, and other systemic shocks. www.federalreserve.gov/econres/feds/primer-on-the-forward-looking-analysis-of-risk-events-model.htm

February 13, 2020 - Federal Reserve Board announces termination of enforcement actions with Discover Financial Services, JPMorgan Chase & Co., Deutsche Bank AG, and The Royal Bank of Scotland PLC and RBS Securities, Inc. www.federalreserve.gov/newsevents/pressreleases/enforcement20200213a.htm

February 12, 2020 - Forward-Looking Monetary Policy and the Transmission of Conventional Monetary Policy Shocks - Chunya Bu, John Rogers, and Wenbin Wu - Standard structural VAR models and estimation using Romer and Romer (2004) monetary policy shocks show that, in samples after the 1980s, a contractionary conventional monetary policy shock generates smaller and sometimes perversely-signed impulse responses compared to earlier samples. www.federalreserve.gov/econres/feds/forward-looking-monetary-policy-and-the-transmission-of-conventional-monetary-policy-shocks.htm
February 12, 2020 - Inflation at Risk - David López-Salido and Francesca Loria - We investigate how macroeconomic drivers affect the predictive inflation distribution as well as the probability that inflation will run above or below certain thresholds over the near term. www.federalreserve.gov/econres/feds/inflation-at-risk.htm

February 11, 2020 - St. Louis Fed's Bullard Presents "Can the FOMC Achieve a Soft Landing in 2020?" - In a presentation Tuesday to the CFA Society St. Louis, Federal Reserve Bank of St. Louis President James Bullard discussed whether the Federal Open Market Committee can achieve a soft landing for the U.S. economy in 2020. www.stlouisfed.org/news-releases/2020/02/11/bullard-can-fomc-achieve-soft-landing

February 11, 2020 - Testimony by Chair Jerome H. Powell - Semiannual Monetary Policy Report to the Congress Before the Committee on Financial Services, U.S. House of Representatives, Washington, D.C. www.federalreserve.gov/newsevents/testimony/powell20200211a.htm

February 11, 2020 - Speech by Vice Chair for Supervision Quarles on spontaneity and order: transparency, accountability, and fairness in bank supervision At the Yale Law School, New Haven, Connecticut.  www.federalreserve.gov/newsevents/speech/quarles20200211a.htm

February 10, 2020 - FDIC Issues Procedures for Deposit Insurance Applications from Applicants that are Not Traditional Community Banks - The FDIC has released a supplement to its Deposit Insurance Application Procedures Manual that addresses deposit insurance applications involving unique or complex proposals.  www.fdic.gov/news/news/financial/2020/fil20008.html

February 10, 2020 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at 11:00 a.m. on February 10, 2020. 

February 10, 2020 - Speech by Governor Bowman on empowering community banks At the Conference for Community Bankers sponsored by The American Bankers Association, Orlando, Florida.  www.federalreserve.gov/newsevents/speech/bowman20200210a.htm

February 7, 2020 - Statistical Release - Consumer Credit - G.19 - In 2019, consumer credit increased 4-3/4 percent, with revolving and nonrevolving credit increasing 4-1/4 percent and 4-3/4 percent, respectively. www.federalreserve.gov/releases/g19/current/default.htm

February 7, 2020 - FOIA - Chair Powell's calendar, December 2019. www.federalreserve.gov/foia/chairman-powell-calendar.htm

February 7, 2020 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

February 7, 2020 - Reports to Congress - Monetary Policy Report, February 2020 - The Federal Reserve Act requires the Federal Reserve Board to submit written reports to Congress containing discussions of "the conduct of monetary policy and economic developments and prospects for the future." www.federalreserve.gov/monetarypolicy/mpr_default.htm

February 6, 2020 - OCC Releases Dodd-Frank Act Stress Test Scenarios for 2020 - The Office of the Comptroller of the Currency released economic and financial market scenarios for use in the upcoming stress tests for covered institutions. www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-17.html

February 6, 2020 - Statistical Release - Structure and Share 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/

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 Pen-test Audits
Our pen-test firewall audit  meets the independent diagnostic test requirements of FDIC, OCC, FRB, and NCUA, which provides compliance with Gramm-Leach Bliley Act 501(b) The audit focuses on a hacker's perspective, which will help your IT staff identify real-world weaknesses.  For more information, please call R. Kinney Williams at Office/Cell 806-535-8300, send an email to examiner@yennik.com, or visit http://www.internetbankingaudits.com/.


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