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

The E-mail Banking News
for the week of October 15, 2017

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



October 13, 2017 - The Farmers and Merchants State Bank of Argonia, Argonia, Kansas, was closed today by the Office of the State Bank Commissioner of Kansas, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Conway Bank, Conway Springs, Kansas, to assume all of the deposits of The Farmers and Merchants State Bank of Argonia. https://www.fdic.gov/news/news/press/2017/pr17080.html

October 11, 2017 - FDIC to Hold 7th Annual Consumer Research Symposium in Arlington, Virginia - The Federal Deposit Insurance Corporation will sponsor the 7th Annual Consumer Research Symposium on October 13, 2017. www.fdic.gov/news/news/press/2017/pr17078.html

October 11, 2017 - Federal Reserve Board issues enforcement actions with Bank of Gueydan and Farmers State Bank.  www.federalreserve.gov/newsevents/pressreleases/enforcement20171010a.htm

October 10, 2017 - Consolidated Reports of Condition and Income for Third Quarter 2017 - The attached materials pertain to the Consolidated Reports of Condition and Income for the September 30, 2017, report date. Please plan to complete the preparation, editing, and review of your institution's Call Report data and the submission of these data to the agencies' Central Data Repository as early as possible. www.fdic.gov/news/news/financial/2017/fil17049.html

October 10, 2017 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at on October 10, 2017. 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/recentpostings.htm

October 6, 2017 - T+2 Securities Transaction Settlement Cycle: Notice of Proposed Rulemaking - The Office of the Comptroller of the Currency is requesting comment on a proposed rule to shorten the standard settlement cycle for securities purchased or sold by national banks or federal savings associations. www.occ.treas.gov/news-issuances/bulletins/2017/bulletin-2017-39.html

October 6, 2017 - NCUA Advises Credit Unions in the Path of Tropical Storm Nate to Prepare - Credit unions in the path of Tropical Storm Nate are being advised to take precautions as the storm nears the Gulf Coasts of Louisiana, Mississippi, Alabama and Florida, the National Credit Union Administration said today. www.ncua.gov/newsroom/Pages/news-2017-oct-ncua-advises-credit-unions-path-tropical-storm-nate-prepare.aspx

October 6, 2017 - NCUA Posts 2018–2019 Budget Proposal - Agency Accepting Comments and Budget Briefing Presentation Requests - The National Credit Union Administration’s 2018–2019 budget proposal is now available online, and the agency is accepting comments as well as requests to present at its Oct. 18 budget briefing. www.ncua.gov/newsroom/Pages/news-2017-oct-ncua-posts-2018-2019-budget-proposal.aspx

October 6, 2017 - St. Louis Fed's Bullard Discusses Living Standards across U.S. Metro Areas - Federal Reserve Bank of St. Louis President James Bullard discussed “Living Standards across U.S. Metropolitan Statistical Areas” at Bi-State Development’s 2017 annual meeting on Friday. www.stlouisfed.org/news-releases/2017/10/06/bullard-living-standards-us-metro-areas

October 6, 2017 - Banker Teleconference Series: HMDA Implementation - Timely and Comprehensive Information and Insights from the FDIC - The FDIC will discuss implementation of the 2015 Home Mortgage Disclosure Act Final Rule regarding requirements that become effective beginning in 2018. www.fdic.gov/news/news/financial/2017/fil17047.html

October 6, 2017 - Banker Teleconference: Proposed Simplifications to the Capital Rule Pursuant to the Economic Growth and Regulatory Paperwork Reduction Act of 1996 - The FDIC, the Office of the Comptroller of the Currency, and the Board of Governors of the Federal Reserve System will host an interagency conference call on Thursday, October 12, 2017, at 1:00 p.m. Eastern Time. www.fdic.gov/news/news/financial/2017/fil17048.html

October 6, 2017 - Statistical Release - Consumer Credit - G.19 - In August, consumer credit increased at a seasonally adjusted annual rate of 4-1/4 percent. Revolving credit increased at an annual rate of 7 percent, while nonrevolving credit increased at an annual rate of 3-1/4 percent. www.federalreserve.gov/releases/g19/current/default.htm

October 6, 2017 - FOIA - Chair Yellen's calendar, August 2017.  www.federalreserve.gov/foia/files/chair-yellen-calendar-082017.pdf
 
October 6, 2017 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

October 6, 2017 - Federal Reserve Board announces approval of application by Columbia Banking System, Inc. - The Federal Reserve Board on Friday announced its approval of the application under section 3 of the Bank Holding Company Act of 1956 by Columbia Banking System, Inc., Tacoma, Washington, to acquire Pacific Continental Corporation and thereby indirectly acquire Pacific's subsidiary bank, Pacific Continental Bank, both of Eugene, Oregon. www.federalreserve.gov/newsevents/pressreleases/orders20171006a.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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Association of Credit Union Internal Auditors
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