OCC

New report highlights risks facing national banks and federal savings associations. The OCC announced the publication of its Semiannual Risk Perspective for Spring 2017, which covers risks facing national banks and federal savings associations based on data for the 12 months ending December 31, 2016. (7/7/2017)

OCC to host MSAAC meeting on July 25. The OCC announced that it will be hosting a public meeting of the Mutual Savings Association Advisory Committee on Tuesday, July 25, 2017, to advise the agency on regulatory changes or other steps it may be able to take to ensure the continued health and viability of mutual savings associations and other issues of concern to mutual savings associations.

Revisions to General Policies and Procedures booklet. The OCC announced the issuance of its “General Policies and Procedures” booklet of the Comptroller’s Licensing Manual. This booklet updates procedures and requirements to reflect the integration of the Office of Thrift Supervision into the OCC in 2011 and the issuance of revised regulations that became effective July 1, 2015. (7/5/2017)

1Q 2017 bank trading revenue increased to US$7.1 Billion. The OCC announcedthat trading revenue of US commercial banks and savings associations increased to US$7.1 billion in the first quarter 2017, US$1.5 billion higher than the first quarter a year earlier. In the report, Quarterly Report on Bank Trading and Derivatives Activities, the OCC also noted that trading revenue in the first quarter 2017 grew 18 percent compared with the US$6 billion reported in the fourth quarter 2016. (7/3/2017)

OCC issues Branch Closings booklet. The OCC announced its issuance of the “Branch Closings” booklet of the Comptroller’s Licensing Manual. This revised booklet incorporates updated branch closing procedures and requirements following the integration of the Office of Thrift Supervision into the OCC in 2011 and the issuance of revised regulations that became effective July 1, 2015, addressing branch closings for both national banks and federal savings associations. (6/29/2017)

OCC announced Kentucky workshop for board directors and bank management. The OCC will host a workshop in Lexington, Kentucky, on August 7-9, for directors, senior management team members and other key executives of national community banks and federal savings associations supervised by the OCC. (6/23/2017) OCC press release.

Comptroller discusses economic growth and regulation reduction in Senate testimony. Acting Comptroller of the Currency Keith A. Noreika testified before the US Senate Committee on Banking, Housing, and Urban Affairs regarding ways to promote economic growth and reduce regulatory burden while ensuring proper oversight of the federal banking system. (6/22/2017) Noreika testimony.

FDIC

FDIC seeks comment on procedures manual for deposit insurance applications. The FDIC announced that it is releasing and seeking public comment on a procedures manual developed to assist FDIC staff as they assess and process deposit insurance applications. Comments on the manual, specifically on how well the manual helps bank organizers understand the FDIC's application process, must be submitted by September 8, 2017. (7/10/2017)

FDIC Chairman offers recommendations for legislative and regulatory relief in Senate testimony. FDIC Chairman Martin J. Gruenberg discussed the FDIC’s efforts to streamline and simplify banking regulations and his recommendations for legislative changes to reduce regulatory burdens on financial institutions in testimony before the Senate Committee on Banking, Housing, and Urban Affairs. (6/22/2017) Gruenberg testimony.

FFIEC Additional revisions proposed to streamline call report for small institutions. The FFIEC announced its proposal for additional revisions to streamline several “Call Report” schedules. Comments on the proposal must be submitted by 60 days from publication in the Federal Register. (6/20/2017) Call Report Federal Register Notice.

Federal Reserve Payments study highlights changes in consumer and business payment choice. The Board announced the release of its 2016 Federal Reserve Payments Study. (6/30/2017)

Annual determination of aggregate consolidated liabilities of financial companies. The Board announced that it has released its annual determination of the aggregate consolidated liabilities of financial companies. (6/29/2017)

CCAR results. The Board announced that has completed its review of the capital planning practices of the nation's largest banks and did not object to the capital plans of all 34 bank holding companies participating in the Comprehensive Capital Analysis and Review. However, the Board is requiring one firm to address weaknesses in its capital planning process and resubmit its capital plan by the end of 2017. (6/28/2017)

Big banks achieve positive results during stress tests. The Federal Reserve Board released the results of the most recent supervisory stress tests of large US bank holding companies, which found that these institutions have strong capital levels and would retain their ability to lend to households and businesses during a severe recession. (6/22/2017) FRB press release.

FRB Governor considers regulation’s impact on economic growth before Senate. Federal Reserve Governor Jerome H. Powell discussed the relationship between regulation and economic growth during his testimony before the Senate Committee on Banking, Housing, and Urban Affairs on. (6/22/2017) Powell testimony.    

CFPB

CFPB issues rule to help groups of people take companies to court. The CFPB announced a new rule banning companies from using mandatory arbitration clauses to deny groups of people their day in court. The new rule seeks to deter wrongdoing by restoring consumers’ right to join together to pursue relief through group lawsuits. CFPB blog. (7/10/2017) 

FinCEN 

FinCEN publishes fact sheet on 314a program. FinCEN issued a fact sheet on its 314a Program, which requires certain financial institutions to search their records and identify if they have responsive information with respect to particular subjects under investigation for engaging in terrorist acts or money laundering activities. (6/20/2017) FinCEN fact sheet.