In this issue we spotlight more IT issues we’re seeing, this time focusing on IT project management; we share highlights of the new risk management supervision guidance SR 16-11; we recap recent Supervision and Regulation Letters; we update you on our recent Community Banking Technology Forum; and let you know that holding company annual reports can now be easily searched online.
The Board of Governors has adopted a final policy statement laying out the framework it will follow and explaining the factors it will consider as it sets the Countercyclical Capital Buffer, which is intended to help the largest banking organizations absorb shocks that arise when credit conditions worsen. The policy statement takes effect October 14, 2016.
The deadline for public comment on the Board of Governors proposal detailing conceptual capital requirements for certain systemically important insurance companies and insurance companies that own a bank or thrift has been extended to September 16, 2016.
The counterfeit cashier's check scheme traditionally targets people who are selling items over the Internet or through classified ads. The cashier's check given to a seller and/or potential employee may be fraudulent and eventually returned to the bank.
The Supervision News Flash helps you stay abreast of topics and trends affecting financial institutions in the Fifth Federal Reserve District. On a periodic basis we’ll share insights on what our examiners, analysts and economists are seeing both within the Richmond Fed’s portfolio as well as trends from across the entire System.
The National Federal Reserve Financial Services website presents the products and services available for institutions in the Fifth District.