The Federal Financial Institutions Examination Council alerted financial institutions to the potential impact that cyber-related sanctions may have on information technology, operations and compliance.
The FDIC, the Office of the Comptroller of the Currency and the Board of Governors of the Federal Reserve System reminded banks that they must submit their Consolidated Reports of Condition and Income ("Call Reports") for the first quarter of 2017 by April 30, 2017.
In a Joint Report submitted to Congress, member agencies of the Federal Financial Institutions Examination Council and the National Credit Union Administration outlined interagency and agency actions to reduce regulatory burdens on financial institutions.
The FDIC and other banking agencies solicited comments on a proposal to: (i) streamline the Consolidated Reports of Condition and Income ("Call Reports") for eligible small institutions, and (ii) reduce the regulatory burden of the remaining versions of Call Reports.
The Federal Financial Institutions Examination Council requested comments on its proposed revisions to the Uniform Interagency Consumer Compliance Rating System (more commonly known as the "CC Rating System"). The request for comments was published in the Federal Register.
In response to recent cyberattacks, the Federal Financial Institutions Examination Council urged financial institutions to manage risks actively that are associated with interbank messaging and wholesale payment networks.
The Appraisal Subcommittee of the Federal Financial Institutions Examination Council ("FFIEC") requested comments on a proposal to (i) establish the annual appraisal management company ("AMC") registry fee and (ii) interpret the phrase "working for or contracting with" in accordance with the Dodd-Frank Act.