A collection of new banking resources from around the internet:
- FDIC Releases Latest Stress Test Scenario Assumptions – Although directly applicable only to institutions over $10 billion in assets, regulators expect banks of all sizes to conduct appropriate stress tests. In the FDIC’s severely adverse scenario, unemployment would hit 12.1% in the second quarter of 2014, and we would be in recession from the 4th quarter of 2012 through the 4th quarter of 2013. Fortunately, the baseline scenario is far more attractive, with relatively strong GDP growth through 2015.
- FDIC Announces Closure of Temporary Jacksonville Office – The FDIC has determined that the pace of bank receiverships has sufficiently slowed to permit closure of the Jacksonville office (with absorption by the Dallas office)… by April 5, 2014.
- FDIC Provides Additional Guidance for Working with Customers Affected by Hurricane Sandy – Notably, the FDIC notes that “not all modifications are TDRs.” Presumably, however, substantially all modifications will remain TDRs.
- SEC and Department of Justice provide FCPA Guide – This 120-page guide provides a detailed analysis of the U.S. Foreign Corrupt Practices Act and closely examines the U.S.’s approach to FCPA enforcement.
- Dalton, Georgia Resilience – This Federal Reserve Bank of Atlanta blog post looks at the possibilities of recovery for Dalton, Georgia, the Carpet Capital of the World. The takeaway for all banks facing upcoming exams is that (a) hopefully you can also find local pockets of resilience and strength, and (b) you need to find such evidence to counteract the regulators’ expectations when they come in, which will be based upon the macro data.
- A review of Guy’s American Kitchen & Bar in Times Square – Do you think a CAMELS 5 examination report would be more interesting if written entirely with questions?