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November 09, 2015
Commentary by Steven Lofchie

FDIC Vice Chair Thomas M. Hoenig asserted that "while there has been progress in improving capital regulation, much remains undone." In remarks made before the 18th Annual International Banking Conference at the Federal Reserve Bank of Chicago, he argued: "there is no place for complacency regarding the stability of our financial system." Vice Chair Hoenig emphasized that global banks "are not as well capitalized as some within the industry would have you believe." As to: Risk Prediction: Vice Chair Hoenig questioned "whether the effect of such a requirement that is designed to make a firm

November 17, 2015

The FDIC clarified its "Payday Lending Programs: Revised Examination Guidance" and the attached "Revised Guidelines for Payday Lending" (collectively, the "2005 Payday Lending Guidance") to "ensure that bankers and others are aware that [the 2005 Payday Lending Guidance] does not apply to banks offering products and services, such as deposit accounts and extensions of credit, to non-bank payday lenders." The FDIC specified that the Financial Institution Letter applies to all FDIC-supervised financial institutions that make payday loans.

November 17, 2015

The FDIC requested comments on its proposed updates to a series of frequently asked questions and an accompanying introductory letter regarding identifying, accepting and reporting brokered deposits that were issued in January 2015. Comments on the proposed updates must be submitted by December 28, 2015.

November 18, 2015

The FDIC is soliciting comments on a proposal “to impose a surcharge on the quarterly assessments of insured depository institutions with total consolidated assets of $10 billion or more.” The surcharges are required by the Dodd Frank Act. “The surcharges would begin the calendar quarter after the reserve ratio of the Deposit Insurance Fund (“DIF or fund”) first reaches or exceeds 1.15 percent —the same time that lower regular deposit insurance assessment (regular assessment) rates take effect —and would continue through the quarter that the reserve ratio first reaches or exceeds 1.35 percent

November 24, 2015

The FDIC added content to its available cybersecurity awareness resources for financial institutions. Submitted under the FDIC's Community Banking Initiative, the new resources include a cybersecurity awareness video and three vignettes for the Cyber Challenge, a series of exercises that are intended to encourage the discussion of cyber-risk issues.