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

The E-mail Banking News
for the week of June 25, 2017

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

June 21, 2017 - NCUA - May 2017 NCUA Board Meeting Video Available - The video recording of the May 25, 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-june-may-board-meeting.aspx

June 21, 2017 - Testimony by Governor Jerome H. Powell Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate, Washington, D.C. - Relationship Between Regulation and Economic Growth.   www.federalreserve.gov/newsevents/testimony/powell20170622a.htm

June 21, 2017 - Structure and Share Data for U.S. Banking Offices of Foreign Entities - There are two reports showing the same structure and asset information for each U.S. office, but in different orders. Offices located in Puerto Rico, American Samoa, Guam, the Virgin Islands and other U.S.-affiliated insular areas are excluded. www.federalreserve.gov/releases/iba/default.htm 

June 21, 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 a.m. on June 21, 2017. Matter considered: Update on Comprehensive Capital Analysis and Review and Dodd-Frank Act Stress Tests 2017. www.federalreserve.gov/aboutthefed/boardmeetings/20170621closed.htm

June 21, 2017 - Agencies release list of distressed or underserved nonmetropolitan middle-income geographies - The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency today announced the availability of the 2017 list of distressed or underserved nonmetropolitan middle-income geographies, where revitalization or stabilization activities are eligible to receive Community Reinvestment Act consideration under the community development definition. 
Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20170621b.htm
Press Release: www.fdic.gov/news/news/press/2017/pr17048.html
Press Release: www.occ.gov/news-issuances/news-releases/2017/nr-ia-2017-70.html

June 21, 2017 - Agencies issue host state loan-to-deposit ratios - The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency today issued the host state loan-to-deposit ratios that they will use to determine compliance with section 109 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994.
Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20170621a.htm
Press Release: www.fdic.gov/news/news/press/2017/pr17047.html
Press Release: www.occ.gov/news-issuances/news-releases/2017/nr-ia-2017-69.html

June 20, 2017 - Measuring International Uncertainty: the Case of Korea - Minchul Shin, Boyuan Zhang, Molin Zhong, and Dong Jin Lee - We leverage a data rich environment to construct and study a measure of macroeconomic uncertainty for the Korean economy. www.federalreserve.gov/econres/feds/files/2017066pap.pdf

June 20, 2017 - Speech by Vice Chairman Fischer on housing and financial stability - Vice Chairman Stanley Fischer. 
At the DNB-Riksbank Macroprudential Conference Series, Amsterdam, Netherlands www.federalreserve.gov/newsevents/speech/fischer20170620a.htm

June 20, 2017 - Federal Reserve Board announces termination of enforcement action with JP Morgan Chase & Co. www.federalreserve.gov/newsevents/pressreleases/enforcement20170620a.htm 

June 20, 2017 - Household Debt Service and Financial Obligations Ratios - Household debt service payments and financial obligations as a percentage of disposable personal income; seasonally adjusted.   www.federalreserve.gov/releases/housedebt/default.htm

June 19, 2017 - Monetary Policy Challenges in a New Inflation Environment - A speech delivered on June 19, 2017, before the Money Marketeers of New York University in New York City. www.chicagofed.org/publications/speeches/2017/06-19-17-monetary-policy-challenges-in-a-new-inflation-environment-money-marketeers

June 19, 2017 - Articles of Association, Charter, and Bylaw Amendments: New Comptroller’s Licensing Manual Booklet - The Office of the Comptroller of the Currency issued today the “Articles of Association, Charter, and Bylaw Amendments” booklet of the Comptroller’s Licensing Manual. www.occ.treas.gov/news-issuances/bulletins/2017/bulletin-2017-23.html

June 19, 2017 - OCC to Hold Innovation Office Hours in New York - The Office of the Comptroller of the Currency announced its Office of Innovation will host Office Hours for national banks, federal savings associations, and financial technology companies, July 24-26, at the OCC’s district office in New York City. www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-68.html

June 19, 2017 - St. Louis Fed Announces 2017-2018 Student Board of Directors - The Federal Reserve Board of St. Louis proudly announces the 2017-2018 members of its student board of directors. www.stlouisfed.org/news-releases/2017/06/19/st-louis-fed-announces-2017-2018-student-board-of-directors

June 19, 2017 - Regulatory Relief-Guidance to Help Financial Institutions and to Facilitate Recovery in Areas of Arkansas Affected by Severe Storms, Tornadoes, Straight-line Winds, and Flooding - The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and to facilitate recovery in areas of Arkansas affected by severe weather. www.fdic.gov/news/news/financial/2017/fil17023.html

June 19, 2017 - China's Current Account: External Rebalancing or Capital Flight? - Anna Wong - Abstract: This paper examines an anomaly in China's current account: its large and rapidly growing travel expenditure. www.federalreserve.gov/econres/ifdp/2017.htm#20171208

June 16, 2017 - OCC Enforcement Actions and Terminations for June 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-2017-67.html

June 16, 2017 - Membership Changes for Federal Reserve Bank of San Francisco’s Economic Advisory Council - The Federal Reserve Bank of San Francisco announced that Robert C. Donegan, president of Ivar’s Restaurants, was appointed to the Federal Reserve Bank of San Francisco’s Economic Advisory Council. www.frbsf.org/our-district/press/news-releases/2017/membership-changes-economic-advisory-council/

June 16, 2017 - Fed Chair Yellen Will Open 2017 Fed/CSBS Community Banking Research Conference - Federal Reserve Chair Janet Yellen will give opening remarks at the fifth annual Community Banking in the 21st Century research and policy conference that will be held Oct. 4-5 at the Federal Reserve Bank of St. Louis. www.stlouisfed.org/news-releases/2017/06/16/fed-chair-yellen-will-open-2017-community-banking-research-conference

June 16, 2017 - St. Louis Fed and St. Louis Regional Unbanked Task Force to Host Author Lisa Servon on June 20 - The St. Louis Fed’s Center for Household Financial Stability and the St. Louis Regional Unbanked Task Force will host a panel discussion on Tuesday, June 20, featuring Lisa Servon, author of the new book, “The Unbanking of America: How the New Middle Class Survives.” www.stlouisfed.org/news-releases/2017/06/16/st-louis-fed-to-host-author-lisa-servon-on-june-20

June 16, 2017 - FDIC Appoints New Ombudsman - The Federal Deposit Insurance Corporation has appointed M. Anthony Lowe to the post of FDIC Ombudsman and Director of the Office of the Ombudsman. https://www.fdic.gov/news/news/press/2017/pr17046.html

June 16, 2017 - Principal Payments on the Federal Reserve's Securities Holdings - Brian Bonis, John Kandrac, and Luke Pardue1 - As noted in the Policy Normalization Principles and Plans issued in September 2014, when the Federal Open Market Committee judges that it is appropriate to begin the process of normalizing the size of the balance sheet, it intends to gradually reduce the Federal Reserve's holdings of Treasury securities and agency debt and agency mortgage-backed securities. www.federalreserve.gov/econres/notes/feds-notes/principal-payments-on-the-federal-reserves-securities-holdings-20170616.htm

June 16, 2017 - Equity Issuance and Retirement by Nonfinancial Corporations - William R. Kuchinski, Richard E. Ogden, Damian R. Thomas, and Missaka Warusawitharana - The Financial Accounts of the United States reports quarterly net equity issuance of nonfinancial corporations. www.federalreserve.gov/econres/notes/feds-notes/equity-issuance-and-retirement-by-nonfinancial-corporations-20170616.htm

June 16, 2017 - Credit and Liquidity Programs and the Balance Sheet.  www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

June 16, 2017 - A Price-Differentiation Model of the Interbank Market and Its Application to a Financial Crisis - Kyungmin Kim - Rate curves for overnight loans between bank pairs, as functions of loan values, can be used to infer valuation of reserves by banks. www.federalreserve.gov/econres/feds/files/2017065pap.pdf

June 16, 2017 - Federal Advisory Council - The Federal Advisory Council, which is composed of twelve representatives of the banking industry, consults with and advises the Board on all matters within the Board's jurisdiction. www.federalreserve.gov/aboutthefed/fac.htm

June 16, 2017 - Gordon Werkema to retire as Federal Reserve’s payments strategy director - Federal Reserve System Payments Strategy Director Gordon Werkema announced today that he will retire in September. www.federalreserve.gov/newsevents/pressreleases/other20170616a.htm

June 15, 2017 - OCC Hosts Operational Risk Workshop in West Virginia - The Office of the Comptroller of the Currency will host a workshop in Charleston, W.V., at the Holiday Inn & Suites Charleston West, July 25, for directors of national community banks and federal savings associations supervised by the OCC. www.occ.gov/news-issuances/news-releases/2017/nr-occ-2017-66.html

June 15, 2017 - Ray Dillon Rejoins St. Louis Fed’s Industry Councils as a Real Estate Member - Ray Dillon, retired president and CEO of Deltic Timber Corp., has rejoined the St. Louis Fed’s Industry Councils.  Dillon previously served as a member of the Agribusiness Industry Council for three years, starting in 2009.  www.stlouisfed.org/news-releases/2017/06/15/ray-dillon-joins-st-louis-fed-real-estate-industry-council-member

June 15, 2017 - J.T. Ferstl, JD, MAI, Joins St. Louis Fed’s Real Estate Industry Council - James T. (J.T.) Ferstl of Little Rock, Ark., has been named to the Real Estate Industry Council of the Federal Reserve Bank of St. Louis.  www.stlouisfed.org/news-releases/2017/06/15/jt-ferstl-joins-st-louis-fed-real-estate-industry-council

June 15, 2017 - 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. Manufacturing output declined 0.4 percent in May; the index is little changed, on net, since February. www.federalreserve.gov/releases/g17/Current/default.htm

June 15, 2017 - Federal Reserve Board approves action by the Boards of Directors of the Federal Reserve Banks of New York, St. Louis, and Minneapolis - The Federal Reserve Board has approved actions on Thursday by the Boards of Directors of the Federal Reserve Banks of New York, St. Louis, and Minneapolis, increasing the discount rate at the Banks from 1-1/2 percent to 1-3/4 percent, effective immediately.   www.federalreserve.gov/newsevents/pressreleases/monetary20170615a.htm

June 15, 2017 - Federal Reserve Board announces termination of enforcement action with Bank of America Corporation.  www.federalreserve.gov/newsevents/pressreleases/enforcement20170615a.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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