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

The E-mail Banking News
for the week of June 17, 2018

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 bankers in Texas, New Mexico, Colorado, and Oklahoma. 

June 15, 2018 - OCC Enforcement Actions and Terminations for June 2018 - 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/2018/nr-occ-2018-63.html

June 14, 2018 - Comptroller of the Currency Discusses Priorities for the Federal Banking System - Comptroller of the Currency Joseph M. Otting today discussed his priorities for the agency and the federal banking system during testimony before the Senate Committee on Banking, Housing, and Urban Affairs. www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-61.html

June 13, 2018 - Comptroller of the Currency Testifies on his Priorities - Comptroller of the Currency Joseph M. Otting today discussed his priorities for the agency and the federal banking system during testimony before the House Financial Services Committee. www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-60.html

June 13, 2018 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at on June 12, 2018 and continued at 9:00 a.m. on June 13, 2018. Matter(s) considered: Discussion of Monetary Policy Issues. www.federalreserve.gov/recentpostings.htm

June 13, 2018 - Federal Reserve Board announces approval of application by Ameris Bancorp - The Federal Reserve Board on Wednesday announced its approval of the application under section 3 of the Bank Holding Company Act of 1956 by Ameris Bancorp, Moultrie, Georgia, to acquire Hamilton State Bancshares, Inc., and thereby indirectly acquire Hamilton's subsidiary bank, Hamilton State Bank, both of Hoschton, Georgia. www.federalreserve.gov/newsevents/pressreleases/orders20180613a.htm

June 13, 2018 - Federal Reserve Board and Federal Open Market Committee release economic projections from the June 12-13 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 12-13 meeting. www.federalreserve.gov/newsevents/pressreleases/monetary20180613b.htm

June 13, 2018 - 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 at a solid rate. www.federalreserve.gov/newsevents/pressreleases/monetary20180613a.htm

June 12, 2018 - Interagency Notification of Formal Enforcement Actions: Interagency Policy Statement - The Federal Financial Institutions Examination Council today rescinded its revised policy statement on “Interagency Coordination of Formal Corrective Action by the Federal Bank Regulatory Agencies,” dated February 20, 1997.  www.occ.treas.gov/news-issuances/bulletins/2018/bulletin-2018-16.html

June 12, 2018 - Federal Reserve Board issues enforcement action with Ashley Burrus and announces termination of enforcement action with Patterson Bankshares, Inc. www.federalreserve.gov/newsevents/pressreleases/enforcement20180612a.htm

June 8, 2018 - The KCFSI suggests financial stress remains muted - The Kansas City Financial Stress Index decreased from -0.37 in April to -0.54 in May. www.kansascityfed.org/~/media/files/publicat/research/indicatorsdata/kcfsi/2018/06-2018/kcfsi_0518.pdf

June 8, 2018 - 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 p.m. on June 12, 2018. Matter(s) considered: Discussion of Monetary Policy Issues. www.federalreserve.gov/aboutthefed/boardmeetings/20180612closed.htm

June 8, 2018 - Credit and Liquidity Programs and the Balance Sheet- Recent balance sheet trends, weekly chart update.  www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

June 8, 2018 - Publications - Annual Performance Report 2017 - The Government Performance and Results Act of 1993 requires federal agencies to prepare a strategic plan covering a multiyear period and requires each agency to submit an annual performance plan and an annual performance report. www.federalreserve.gov/publications/gpra.htm

June 7, 2018 - T+2 Securities Transaction Settlement Cycle: Final Rule - The Office of the Comptroller of the Currency published a final rule in the Federal Register to shorten the standard settlement cycle for securities purchased or sold by national banks, federal savings associations, and federal branches and agencies. www.occ.treas.gov/news-issuances/bulletins/2018/bulletin-2018-15.html 

June 7, 2018 - Newly Formed Money Smart Advance Team Will Get Early Access to, Training on, Updated Money Smart for Adults - The FDIC has formed the new Money Smart Advance Team. Banks that engage in financial education activities, or plan to do so, and who join the MSAT will get an early look at the updated instructor-led Money Smart for Adults curriculum, scheduled for release in September, and other benefits. www.fdic.gov/news/news/financial/2018/fil18032.html

June 7, 2018 - Statistical Release - Mortgage Debt Outstanding.  www.federalreserve.gov/data/mortoutstand/current.htm

June 7, 2018 - Federal Reserve Board announces schedule for results from Dodd-Frank Act stress tests and Comprehensive Capital Analysis and Review - esults from the latest supervisory stress tests conducted as part of the Dodd-Frank Act will be released on Thursday, June 21, and the results from the related Comprehensive Capital Analysis and Review will be released on Thursday, June 28, the Federal Reserve Board announced on Thursday. www.federalreserve.gov/newsevents/pressreleases/bcreg20180607a.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.

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 806-798-7119, send an email to examiner@yennik.com, or visit http://www.internetbankingaudits.com/

 

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