ABA Banking Journal
December 20, 2019

This ABA Banking Journal newsletter is a free, twice-monthly supplement to the ABA Banking Journal magazine intended to help you stay on top of industry and policy news. You can also stay abreast of banking news by visiting aba.com/BankingJournal, home to ABA Daily Newsbytes and other email bulletins.

Industry News
In October, the FDIC published its annual branch deposit statistics, with data as of June 30. In concert with the NCUA’s institution-level deposit statistics of the same period, the data provide a snapshot of the deposit and branching environment in the U.S. In the past year, retail and small business deposits grew at a 3.0 percent pace, the slowest level since 2014. Total deposits, including corporate and municipal balances, grew by 4.3 percent from 2018-2019, also among the lowest levels in the past ten years. (ABA Bank Marketing)
You spend a third of your life at work, says Jeremy Callais. “You can teach someone how to do banking. We hire people who we want to spend a third of our lives with. We tend to think that the customers like to bank with those people too.” On the latest episode of the ABA Banking Journal Podcast, Callais talks about his bank’s approach to hiring, leadership development and succession planning. (ABA Banking Journal)
Home-buying slumped in November, with many Americans priced out of the market by rising prices and a shortage of sales listings. The National Association of Realtors says sales of existing homes fell 1.7 percent last month to a seasonally adjusted annual rate of 5.35 million. (CNBC)
Data Center, Inc. (DCI)
In this bonus episode of the ABA Banking Journal Podcast, senior OCC policy official Grovetta Gardineer digs into the details of the OCC and FDIC’s notice of proposed rulemaking on the Community Reinvestment Act. (ABA Banking Journal)
Financial firms that have not started their work to transition from the London Interbank Offered Rate and making fallback plans for contracts—especially loans—that currently reference it need to begin right away, the Basel, Switzerland-based Financial Stability Board said in a new progress report on the reference rate transition.(ABA Banking Journal)
Consumers are less satisfied with their wealth management mobile apps than they are with retail banking or credit card apps, but when wealth firms provide an outstanding mobile experience, clients are more likely to sign up for additional products and services, according to a recent J.D. Power study. (ABA Bank Marketing)
Loomis US corp
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Policy News
The Senate has approved a spending package for the current fiscal year, in a 71 to 23 vote, funding the government through Sept. 30, 2020. The legislation, which was passed earlier this week by the House, now goes to the president’s desk for his signature. Among the many provisions included in the package is one that directs the Treasury Department to conduct a study on potential adverse effects of the current expected credit loss model for loan loss accounting on regulatory capital. (ABA Banking Journal)
Senate Banking Committee Chairman Mike Crapo (R-Idaho) has expressed reservations about the ABA-supported SAFE Banking Act, which was passed by a strong bipartisan vote in the House earlier this year. (ABA Banking Journal)
In an effort to increase access to capital markets, the Securities and Exchange Commission has proposed updating the test for an “accredited investor” to include individuals’ qualifications based on professional knowledge, experience or certifications, as well as expanding the list of entities that may qualify. (ABA Banking Journal)
Computer Services Inc
Cummins Allison
The Treasury’s Office of Financial Research flagged corporate credit, market, macroeconomic and cyber risk as elevated concerns in its annual financial stability report. Many of these risks are being driven by the U.S. economy’s record expansion. (ABA Banking Journal)
The Federal Reserve and FDIC have determined that the nation’s eight largest banks did not have deficiencies in their most recent resolution plans, which detail how they would be resolved in the event of failure. (ABA Banking Journal)
Regulators’ proposed changes to interagency guidance on credit risk review systems are “either too broad or overly prescriptive,” and could impose a significant cost burden on smaller institutions, ABA warned in a recent comment letter. (ABA Banking Journal)
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