This edition of S&R Perspectives covers the CEO Community Banker Forums held in Richmond and Charlotte in November, stress testing, the Bank Secrecy Act, savings and loan holding companies, student loans, and issues tracking.
Welcome to the Spring 2012 edition of S&R Perspectives.
The Federal Reserve Bank of Richmond hosted two CEO Community Banker Forums last November.
Attendees at the November CEO Community Banker Forums in Charlotte and Richmond had the opportunity to ask questions and provide comments.
Stress testing has been a risk management tool of financial institutions for decades, but supervisors and bankers are placing renewed emphasis on this approach.
According to the FFIEC Bank Secrecy Act/Anti-Money Laundering Examination Manual, suspicious activity reporting “forms the cornerstone of the BSA reporting system.”
Effective July 21, 2011, Title III of the Dodd-Frank Wall Street Reform and Consumer Protection Act transferred the supervisory authority of savings and loan holding companies from the Office of Thrift Supervision to the Federal Reserve.
The total volume of student loan debt has skyrocketed in the last decade, growing on average more than 10 percent annually.
Many institutions continue to be challenged with implementing and maintaining comprehensive issues tracking routines, and these challenges are oftentimes cited by examiners in examination reports as matters requiring attention.
This section highlights supervisory expectations for examinations of community banks within the Fifth Federal Reserve District.
Supervision, Regulation & Credit