Economic growth post-recession for this cycle has been very low with an average of about 2% annually. Since roughly 2/3 of GDP is comprised of consumer expenditures, the level of consumer spending is obviously very important when gauging economic conditions. An important indicator of this is consumer confidence, which in turn influences household spending behavior.
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The New York Fed latest Survey of Consumer Expectations suggests that consumer confidence is weakening with respect to the national economy.
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The new HMDA rules which will begin taking effect in 2018 is the single most significant compliance change with regard to HMDA since its beginning in 1975. The FDIC is hosting an important teleconference to discuss requirements and best practices.
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The Federal Deposit Insurance Corporation (FDIC) adopted a final rule to enhance the resilience and safety and soundness of state savings associations and banks supervised by the FDIC that are affiliated with systemically important U.S. and foreign banking organizations (“covered FDIC-supervised institutions”).
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The emphasis of managing all aspects of regulatory compliance in the current environment center on understanding, measuring, and mitigating risk. For many facets, however, this remains esoteric due to subjectivity and the span of unknowns that surround most issues. Therefore, it is often very difficult for an institution to accomplish this with any degree of […]
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The Federal Reserve Bank of New York’s “Nowcasting” economic model is designed to produce real-time measures of the economy. The purpose is to provide more frequent and current updates to traditional economic forecasts. Specifics on the methodologies employed can be found: https://www.newyorkfed.org/research/policy/nowcast/methodology.html.
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The notice of proposed rulemaking (NPR), issued jointly by the FDIC and the Office of the Comptroller of the Currency (OCC), would shorten the standard settlement cycle for securities purchased or sold by FDIC-supervised institutions, national banks, and federal savings associations from three to two days (T+2).
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Activity in the region’s service sector expanded modestly, according to firms responding to the Federal Reserve Bank of New York’s September 2017 Business Leaders Survey. The survey’s headline business activity index edged down two points but, at 9.4, indicated continuing growth.
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The federal bank regulatory agencies issued yesterday (September 13th) a joint notice of proposed rulemaking to amend their respective Community Reinvestment Act (CRA) regulations primarily to conform to changes made by the Consumer Financial Protection Bureau (CFPB) to Regulation C, which implements the Home Mortgage Disclosure Act (HMDA).
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The national economic state appears to continue in the holding pattern observed over the last few years according to data through September 5th of this year.
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