Curry discusses financial technology innovation. Comptroller of the Currency Thomas J. Curry discussed financial technology innovation during a large industry conference. (3/6/2017)
OCC will be hosting Credit Risk and Operational Risk workshops in Phoenix. The OCC announced that it will be hosting two workshops at the Crowne Plaza Phoenix Airport in Phoenix, Ariz., April 11-12, for directors of national community banks and federal savings associations supervised by the OCC. The April 11th Credit Risk workshop focuses on credit risk within the loan portfolio, such as identifying trends and recognizing problems, and also covers the roles of the board and management, how to stay informed of changes in credit risk, and how to effect change. The April 12th Operational Risk workshop focuses on the key components of operational risk — people, processes and systems, and also covers governance, third-party risk, vendor management, and cybersecurity. (3/2/2017)
Workshop for bank directors to be held in Pittsburgh. The OCC announced that it will be hosting a “Building Blocks for Directors” workshop at the Pittsburgh Marriott City Center in Pittsburgh, Pa., April 10-12, for directors of national community banks and federal savings associations supervised by the OCC. The workshop will be focusing on directors’ duties and core responsibilities, discussing major laws and regulations, and increasing familiarity with the examination process. (3/1/2017)
OCC and Federal Reserve release swap margin guidance. The OCC announced that it and the Federal Reserve Board have issued guidance explaining how supervisors should examine for compliance with the swap margin rule, which established margin requirements for swaps not cleared through a clearinghouse. The guidance explains that the Board and the OCC expect swap entities covered by the rule to prioritize their compliance efforts surrounding the March 1, 2017, variation margin deadline according to the size and risk of their counterparties. (2/23/2017) OCC Guidance. Federal Reserve Guidance.
Winter edition of Supervisory Insights focuses on credit risk. The FDIC announced that it has issued “Credit Risk Trends and Supervisory Expectation Highlights,” which appears in the Winter 2016 issue of Supervisory Insights. The article identifies trends in credit risk and emphasizes to bankers and examiners that now is the time to heed long-standing principles of sound risk-management practices. (3/7/2017)
Examples of new charts illustrating uncertainty around monetary policymakers’ macroeconomic and interest rate projections. The Federal Reserve released examples of new charts and related materials that illustrate and describe the uncertainty that attends FOMC participants’ macroeconomic and interest rate projections. (3/3/2017)
Annual adjustment to asset-size threshold in Regulation I. The Federal Reserve announced the annual adjustment to the asset-size threshold in Regulation I that determines the dividend rate that certain member banks earn on their Federal Reserve Bank stock. The updated total consolidated asset threshold is US$10,122,000,000. (2/22/2017)
CFPB oversight reveals and amends credit reporting issues. The CFPB announced its release of a report detailing the problems in the credit reporting industry that the Bureau has uncovered and corrected through its oversight work. The report outlines the actions the CFPB has taken to address these ongoing problems such as fixing data accuracy at credit reporting companies, repairing the broken dispute process, and cleaning up information being reported. (3/2/2017)