OCC Comptroller delivers remarks on the federal banking system. Comptroller of the Currency Thomas J. Curry delivered the 2016 Robert Glauber Lecture at the Harvard Kennedy School, where he discussed how the financial system has progressed since the Great Recession, its present strengths, and the need to remain vigilant against risks. (9/15/2016)

Bank Supervision Operating Plan for Fiscal Year 2017. The OCC announced the release of its bank supervision operating plan for fiscal year 2017. (9/14/2016)

OCC requests comment on its proposed rule on receiverships for uninsured national banks. The OCC announced that it is requesting comment on a proposed rule to implement the basic legal framework for receiverships set forth in the National Bank Act. The proposed rule would apply to receiverships for any national bank that is not insured by the FDIC and for which the FDIC is not required to be appointed as receiver, such as an uninsured trust bank. This proposed rule would not apply to federal savings associations, all of which are insured. The comment period for the proposed rule ends on November 14, 2016. (9/13/2016)

Newsletter focuses on housing financing in Indian Country. The OCCannounced its publication of the latest edition of its Community Development Investments newsletter entitled “Housing Financing in Indian Country: Spotlight on HUD’s Title VI Program.” This issue describes the Department of Housing and Urban Development’s Title VI loan guarantee program, and presents examples of how banks have used the program to extend financing for housing in Indian Country. This edition also reviews how these activities may be eligible for Community Reinvestment Act consideration. (9/9/2016)

OCC requests comment on proposed rule on industrial and commercial metals.The OCC requested comment on a proposed rule to prohibit national banks and federal savings associations from dealing and investing in “industrial or commercial metal.” Pursuant to the proposed rule, the term “industrial or commercial metal” means metal (including an alloy) in a physical form primarily suited to industrial or commercial use; for example, copper cathodes. (9/8/2016)

OCC names Deputy Comptroller for Leadership, Executive and Organizational Development. The OCC announced that it has selected Patricia Pointer to be its Deputy Comptroller for Leadership, Executive and Organizational Development, effective September 18, 2016. (9/6/2016)


New resources unveiled to help community bankers learn more about affordable mortgage programs. The FDIC announced that it has published The Affordable Mortgage Lending Guide, Part I: Federal Agencies and Government Sponsored Enterprises, and launched the Affordable Mortgage Lending Center, an online resource center to help community bankers learn more about single-family housing products offered by federal agencies and government-sponsored enterprises. (9/15/2016)

New Director for Center for Financial Research is named. The FDIC announcedthat Professor Manju Puri, Ph.D., will serve as the director of the FDIC’s Center for Financial Research for two years, beginning on October 1st. She is currently the J. B. Fuqua Professor, Finance, at the Fuqua School of Business at Duke University. (9/9/2016)

Federal Reserve

Nellie Liang, director of the Division of Financial Stability, to retire. The Boardannounced that Nellie Liang, director of the Division of Financial Stability, will retire later this year after 30 years of service to the Board, including six years as director. (9/9/2016)

Federal Reserve approves final policy statement detailing framework for setting CCyB. The Board announced its release of a policy statement detailing the framework the Board will follow in setting the Countercyclical Capital Buffer (CCyB) for private-sector credit exposures located in the US. The CCyB can be used to increase the resilience of the financial system by raising capital requirements on internationally active banking organizations when the risk of above-normal losses is raised. It would then be available to help banking organizations absorb shocks associated with decreasing credit conditions. Application of the buffer could also help moderate variations in the supply of credit. The policy statement provides background on the range of financial-system weaknesses and other factors the Board may take into account as it evaluates settings for the buffer. (9/8/2016)

Board Asks Congress to cut back on Wall Street merchant banking. In a joint statement on the types of banking activities that might pose risks to the financial system, the Federal Reserve, along with the FDIC and the OCC, recommended that Congress limit Wall Street’s ability to own physical commodities and engage in other aspects of merchant banking because of possible risks to the financial system. (9/8/2016)


Revised Information Security booklet. The FFIEC announced its issuance of a revised Information Security booklet, which is part of the FFIEC Information Technology Examination Handbook. The revised booklet addresses the factors necessary to assess the level of security risks to a financial institution’s information systems. The booklet further assists examiners in evaluating the adequacy of the information security program’s integration into overall risk management. (9/9/2016)

Treasury Department

Treasury International Capital data for July. The US Department of the Treasuryannounced its release of Treasury International Capital data for July 2016. (9/16/2016)


Advisory issued to financial institutions on email compromise fraud schemes.FinCEN issued an advisory to help financial institutions guard against a growing number of email fraud schemes in which criminals misappropriate funds by deceiving financial institutions and their customers into conducting wire transfers. This advisory also provides red flags, developed in consultation with the FBI and the US Secret Service, which financial institutions can use to identify and prevent such email fraud schemes. (9/6/2016)