OCC issues fourth quarter 2015 CRA evaluation schedule. The Office of the Comptroller of the Currency (OCC) released its schedule of Community Reinvestment Act (CRA) evaluations to be conducted in the fourth quarter of 2015. (8/31/2015) OCC press release.
OCC Deputy Comptroller discusses compliance, cybersecurity, and innovation. The OCC announced that Deputy Comptroller for Compliance Operations and Policy, Grovetta Gardineer, discussed compliance challenges facing banks serving members of the US armed forces, cybersecurity, and responsible innovation. (8/31/2015) OCC press release.
FDIC issues fourth quarter 2015 CRA evaluation schedule. The Federal Deposit Insurance Corporation (FDIC) has issued the public list of institutions that it has scheduled for a CRA examination during the fourth quarter of 2015. (8/31/2015) FDIC press release.
OCC will be hosting a NY workshop for bank directors. The OCC announced that it is hosting a workshop in New York from September 28 through September 30, 2015, for directors of national community banks and federal savings associations. The workshop, entitled “Building Block for Directors,” will introduce new bank directors to the OCC’s approach to supervision and will provide experienced bank directors with a timely review of core concepts. (8/25/2015) New York Workshop.
FFIEC regulatory agencies announce the availability of data on small business, small farm, and community development lending. The three federal banking agency members of the Federal Financial Institutions Examination Council (FFIEC) with CRA responsibilities 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. (8/25/2015) Data.
CFPB releases monthly consumer complaints snapshot. The Consumer Financial Protection Bureau (CFPB) released its monthly consumer complaints snapshot, spotlighting rising credit reporting complaints. This month’s snapshot further highlights the trends seen in complaints coming from Los Angeles. (8/25/2015) Snapshot.
FDIC releases latest issue of Supervisory Insights. The FDIC released its summer 2015 issue of Supervisory Insights, focusing on the importance of utilizing corporate governance and strategic planning in response to earnings challenges. (8/24/2015) Supervisory Insights.
OCC is hosting workshops on risk governance and compliance. The OCC will be hosting two workshops in Albuquerque, N.M. for directors of national community banks and federal savings associations. The Risk Governance workshop is to be held on September 29 and the Compliance Risk workshop is to be held on September 30. (8/21/2015) New Mexico Workshops.
OCC hosting a MDIAC committee meeting. The OCC announced that it will be hosting a public meeting of the Minority Depository Institutions Advisory Committee (MDIAC) on September 15 in Washington, DC. (8/21/2015) MDIAC meeting.
The Federal Reserve Bank of New York publishes its five-part blog series. The Federal Reserve Bank of New York (New York Fed) published a five-part blog series - The first blog focused on US Treasury market liquidity; the second focused on the effect of flash trading; the third focused on high-frequency cross-market trading in US Treasury markets; the fourth focused on workups in the US Treasury securities market; and the fifth focused on dealer balance sheet stagnation. (8/17/2015) US Treasury market liquidity. The effect of flash trading. High-frequency cross-market trading in US Treasury markets. Workups in the US Treasury securities market. Dealer balance sheet stagnation. See also Reuters story on dealer balance sheet stagnation blog post.
OFR Publishes Working Paper on Bounding Wrong-Way Risk in Measuring Counterparty Risk. The Treasury Department’s Office of Financial Research (OFR) published a working paper investigating the potential impact of wrong-way risk in calculating a credit valuation adjustment (CVA) to a derivatives portfolio. (8/19/2015) Wrong-way risk.
CFPB issues compliance bulletin. The CFPB issued a compliance bulletin called “Amendment to the Interstate Land Sales Full Disclosure Act,” which provides information to developers regarding a recent Congressional amendment to the Interstate Land Sales Full Disclosure Act. (8/17/2015) Bulletin.
FinCEN Issues Administrative Ruling Regarding MSB Regulations. The Financial Crimes Enforcement Network (FinCEN) issued a ruling regarding its money services business (MSB) regulations under the Bank Secrecy Act. (8/14/2015). Money services business.