Agencies issue host state loan-to-deposit ratios. The OCC, in conjunction with the Board of Governors of the Federal Reserve System and the FDIC, issued the host state loan-to-deposit ratios that they will use to determine compliance with Section 109 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994. (6/17/2016)
List of distressed or underserved nonmetropolitan middle-income geographies is released. The OCC, in conjunction with the Board of Governors of the Federal Reserve System and the FDIC, announced the availability of the 2016 list of distressed or underserved nonmetropolitan middle-income geographies, where revitalization or stabilization activities will receive CRA Act consideration as community development. (6/17/2016)
Joint statement issued on new accounting standard on financial instruments - credit losses. The OCC, in conjunction with the Board of Governors of the Federal Reserve System, the FDIC, and the NCUA, issued a joint statement in response to the new accounting standard issued by the Financial Accounting Standards Board on June 16th. (6/17/2016) OCC Bulletin.
OCC to host Credit Risk, Operational Risk workshops in Florida. The OCC announced that it will be hosting two workshops in Tampa, Fla., at the Holiday Inn Tampa Westshore, July 26-27, for directors of national community banks and federal savings associations supervised by the OCC. The Credit Risk workshop on July 26th will be focusing on credit risk within the loan portfolio, such as identifying trends and recognizing problems, while the Operational Risk workshop on July 27th will be focusing on people, processes and systems. (6/15/2016)
FFIEC requests comment on proposed Uniform Interagency Consumer Compliance Rating System. The FFIEC announced that it is seeking public comment on its proposal to revise the existing Uniform Interagency Consumer Compliance Rating System to reflect regulatory, supervisory, technological, and market changes since the system was established. (6/9/2016)
FFIEC advises financial institutions to manage risks associated with interbank messaging, wholesale payment networks. FFIEC members advised financial institutions, consistent with current regulatory expectations, to actively manage the risks associated with interbank messaging and wholesale payment networks. In a statement, the FFIEC noted that financial institutions should review risk-management practices and controls related to IT systems and wholesale payment networks, including risk assessment; authentication, authorization and access controls; monitoring and mitigation; fraud detection; and incident response. The joint statement further added that recent cyber attacks have targeted interbank messaging and wholesale payment functions at financial institutions to originate unauthorized transactions, which could subject a bank that originates such transactions to losses and compliance risk. (6/7/2016)
eRegulations are updated with Regulations X, C, more. The CFPB announced that it recently updated its eRegulations platform, which now includes Regulations C, X, and DD. The CFPB also updated Regulation Z on the eRegulations platform so that it includes all the amendments made to the regulation through March 2016. (6/6/2016)