OCC

OCC updates Bank Accounting Advisory Series. The OCC released an updateto the Bank Accounting Advisory Series, which promotes consistent application of accounting standards among national banks and federal savings associations. This update includes recent answers to FAQs from the industry and examiners covering areas such as contingencies and fair value accounting. (8/18/2016)

Federal Financial Institutions regulatory agencies announce availability of 2015 small business, small farm, and community development lending data. The three federal banking agency members of the FFIEC with CRA responsibilities (the OCC, the Board of Governors of the Federal Reserve System, and the FDIC)announced the availability of data on small business, small farm, and community development lending reported by certain commercial banks and savings associations, pursuant to the CRA. (8/18/2016)

National banks and federal savings associations affected by severe weather in Louisiana permitted to close offices. The OCC issued a proclamation permitting national banks and federal savings associations, at their discretion, to close offices affected by severe storms and flooding in Louisiana. See OCC Bulletin 2012-28 Supervisory Guidance on Natural Disasters and Other Emergency Conditions for guidance on actions bankers could consider applying when their bank or savings association operates or has customers in areas affected by a natural disaster or other emergency. (8/16/2016)

FDIC

Supervisory Insights focuses on de novo formation. The FDIC announced that it has issued its “De Novo Banks: Economic Trends and Supervisory Framework,”which appears in the Summer 2016 issue of Supervisory Insights. The article provides an overview of trends in de novo formation; the process by which the FDIC reviews applications for deposit insurance; the supervisory process for de novo institutions; and steps the FDIC is taking to support de novo formations. (8/22/2016)

Federal Reserve

Facebook page launched. The Federal Reserve Board launched a Facebook page, which will include press releases, speeches, testimony, reports, educational materials, frequently asked questions, photos, and videos. (8/18/2016)