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

The E-mail Banking News
for the week of October13, 2019

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

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 financial institutions in Texas, New Mexico, Colorado, and Oklahoma. 

October 9, 2019 - NCUA - “Laying a Strong Foundation for the Future” - National Credit Union Administration Chairman Rodney E. Hood today released a six-month progress report on his efforts since he took office. www.ncua.gov/newsroom/press-release/2019/laying-strong-foundation-future

October 9, 2019 - Appraisals for Residential Real Estate Transactions : Final Rule - The Office of the Comptroller of the Currency has adopted a final rule to increase the appraisal threshold for residential real estate transactions (residential transactions) from $250,000 to $400,000. www.occ.gov/news-issuances/bulletins/2019/bulletin-2019-45.html

October 9, 2019 - Interactive Maps Detail Burden of Student Debt in the Bay Area - A new interactive mapping tool released today by the Federal Reserve Bank of San Francisco provides an in-depth look at student loan borrowing and repayment in the nine-county San Francisco Bay Area. www.frbsf.org/our-district/press/news-releases/2019/interactive-maps-detail-burden-of-student-debt-in-the-bay-area/

October 9, 2019 - FDIC Announces Meeting of Advisory Committee on Community Banking - The Federal Deposit Insurance Corporation today announced that it will hold a meeting of the Advisory Committee on Community Banking on Thursday, October 10. FDIC senior staff will provide an update on various supervisory policy issues and insurance and research matters, brief Committee members on the FDIC Subcommittee on Supervision Modernization, and discuss tools and resources related to Opportunity Zones. www.fdic.gov/news/news/press/2019/pr19090.html

October 9, 2019 - FDIC Announces New Paid Parental Leave Benefit for Employees - The Federal Deposit Insurance Corporation today announced a new paid parental leave program for its employees, providing six workweeks of paid leave per year for the birth, adoption, or foster placement of a new child. The program will be available to mothers and fathers equally, and to both parents if both are FDIC employees. www.fdic.gov/news/news/press/2019/pr19089.html

October 9, 2019 - Scarred Consumption - Ulrike Malmendier and Leslie Sheng Shen - We show that prior lifetime experiences can "scar" consumers. Consumers who have lived through times of high unemployment exhibit persistent pessimism about their future financial situation and spend significantly less, controlling for the standard life-cycle consumption factors, even though their actual future income is uncorrelated with past experiences. www.federalreserve.gov/econres/ifdp/files/ifdp1259.pdf

October 9, 2019 - Expectations about the Federal Funds Rate in the Long Run - Kasper Joergensen and Andrew Meldrum - Over the past several years, the federal funds rate has remained well below the levels typically seen prior to the financial crisis that began in 2007. www.federalreserve.gov/econres/notes/feds-notes/expectations-about-the-federal-funds-rate-in-the-long-run-20191009.htm

October 9, 2019 - Communications with the public through October 9, 2019 - Communications with the public through October 9, 2019.  www.federalreserve.gov/regreform/communications-with-public.htm

October 9, 2019 - Minutes of the Federal Open Market Committee, September 17-18, 2019 - A summary of economic projections made by Federal Reserve Board members and Reserve Bank presidents for the meeting is also included as an addendum to these minutes. www.federalreserve.gov/newsevents/pressreleases/monetary20191009a.htm

October 8, 2019 - How Health Insurance Improves Financial Health By Sarah Miller , Luojia Hu , Robert Kaestner , Bhash Mazumder , Ashley Wong , Lisa Camner McKay - Research by Sarah Miller, University of Michigan, Luojia Hu, Federal Reserve Bank of Chicago, Robert Kaestner, University of Chicago, Bhashkar Mazumder, Federal Reserve Bank of Chicago, and Ashley Wong, Northwestern University Summary by Lisa Camner McKay, economics writer.  www.chicagofed.org/publications/chicago-fed-letter/2019/420

October 8, 2019 - Understanding Recent Fluctuations in Short-Term Interest Rates - By Sam Schulhofer-Wohl - In mid-September 2019, there were sudden, large fluctuations in short-term interest rates. Why did these fluctuations happen, and what do they tell us about the Federal Reserve’s monetary policy toolkit? www.chicagofed.org/publications/chicago-fed-letter/2019/423

October 8, 2019 - NCUA Chairman Rodney E. Hood Remarks - State Employees Credit Union Annual Membership Meeting.  www.ncua.gov/newsroom/speech/2019/ncua-chairman-rodney-e-hood-remarks-state-employees-credit-union-annual-membership-meeting

October 8, 2019 - Regulatory Reform - Communications with the public through October 8, 2019.  www.federalreserve.gov/reform.htm

October 8, 2019 - Speech by Chair Powell on data-dependent monetary policy in an evolving economy At "Trucks and Terabytes: Integrating the 'Old' and 'New' Economies" 61st Annual Meeting of the National Association for Business Economics, Denver, Colorado.  www.federalreserve.gov/newsevents/speech/powell20191008a.htm

October 7, 2019 - NCUA Extends Deadline to Qualify for Streamlined CDFI Application to Nov. 30 - The National Credit Union Administration has extended the deadline for federally insured, low-income credit unions that want to become certified Community Development Financial Institutions to apply for qualification to use the agency’s streamlined CDFI certification process. www.ncua.gov/newsroom/press-release/2019/ncua-extends-deadline-qualify-streamlined-cdfi-application-nov-30

October 7, 2019 - OCC to Host Innovation Office Hours in Las Vegas - The Office of the Comptroller of the Currency today announced it will hold Innovation Office Hours on October 28 in Las Vegas to promote responsible innovation in the federal banking system. www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-116.html

October 7, 2019 - Statistical Release - Consumer Credit - G.19 - In August, consumer credit increased at a seasonally adjusted annual rate of 5-1/4 percent. Revolving credit decreased at an annual rate of 2-1/4 percent, and nonrevoving credit increased at an annual rate of 7-3/4 percent. www.federalreserve.gov/releases/g19/current/default.htm

October 7, 2019 - 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 a.m. on October 7, 2019. Matter(s) 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/20191007closed.htm

October 7, 2019 - Brief remarks by Chair Powell At the premiere of "Marriner Eccles: Father of the Modern Federal Reserve," Salt Lake City, Utah.   www.federalreserve.gov/newsevents/speech/powell20191007a.htm

October 4, 2019 - Robert Owen and the Federal Reserve By Esther George President and Chief Executive Officer Federal Reserve Bank of Kansas City at Economic Forum Tahlequah, Oklahoma.   www.kansascityfed.org/~/media/files/publicat/speeches/2019/2019-george-tahlequah-10-04.pdf

October 4, 2019 - FDIC Issues List of Banks Examined for CRA Compliance - The list covers evaluation ratings that the FDIC assigned to institutions in July 2019. www.fdic.gov/news/news/press/2019/pr19086.html

October 4, 2019 - FOIA - Chair Powell's calendar, August 2019.  www.federalreserve.gov/foia/chairman-powell-calendar.htm

October 4, 2019 - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

October 4, 2019 - US Monetary Policy and International Bond Markets - Simon Gilchrist, Vivian Yue, and Egon Zakrajsek - This paper uses high-frequency data to analyze the effects of US monetary policy--during the conventional and unconventional policy regimes--on foreign government bonds markets in advanced and emerging market economies. www.federalreserve.gov/econres/feds/2018.htm#2018014

October 4, 2019 - The Dollar and Emerging Market Economies: Financial Vulnerabilities Meet the International Trade System - Samer Shousha - This paper shows that dollar appreciations lead to declines in GDP, investment, and credit to the private sector in emerging market economies.  https://www.federalreserve.gov/econres/ifdp/files/ifdp1258.pdf

October 4, 2019 - Opening remarks by Chair Powell At "Perspectives on Maximum Employment and Price Stability" a Fed Listens event sponsored by the Board of Governors of the Federal Reserve System, Washington, D.C. www.federalreserve.gov/newsevents/speech/powell20191004a.htm

October 3, 2019 - An Open Board meeting of the Board of Governors of the Federal Reserve System will be held at 2:00 p.m. on October 10, 2019. Matter(s) considered: Final rules on prudential standards and resolution plan requirements for large domestic and foreign banking organizations and proposed rule on supervisory assessments for large banking organizations. www.federalreserve.gov/aboutthefed/boardmeetings/20191010open.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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