Advocacy
Basel III Petition News Coverage
ICBA’s Basel III petition garnered local news coverage throughout the week. The petition continues to call on banking regulators to exempt community banks from proposed Basel III capital regulations.

“No matter who wins the election, community bankers want federal regulators to know they’re not happy about how Basel III will affect them,” wrote Heather Draper of the Denver Business Journal. Additionally, the Birmingham Business Journal explained that both large and small banks are asking for delays on Basel III’s implementation by saying the Jan. 1 deadline is not enough time to meet the necessary requirements.

To read more about the petition, comment letter and efforts ICBA has made throughout the year, visit ICBA's advocacy page.


Resources
ICBA Crisis Resource Center Available
Hurricane Sandy is a reminder that a natural disaster can strike at any time. ICBA reminds all community banks of the Crisis Preparedness Resource Center on the association's website. The center includes links to relevant resources, timely aid donation information and customizable financial preparedness press releases for consumers. To access the center, click here.

ICBA's Senior Vice President of Regulatory Policy and resident natural disaster relief expert Viveca Ware was quoted in an American Banker story yesterday regarding emergency preparedness. The story details different banks' procedures and how they fared during Hurricane Sandy. Ware mentions the importance of a fully stocked automated teller machine and having emergency staff ready to act as part of a business continuity plan during a natural disaster.



Regulators
Regulators Announce Hurricane Sandy Relief
In the aftermath of Hurricane Sandy, the Office of the Comptroller of the Currency, the Board of the Federal Reserve System, and the Federal Deposit Insurance Corporation (the agencies) recognize the serious impact of the storm on customers and operations of many financial institutions and will provide regulatory assistance to affected institutions subject to their supervision. The agencies have released guidelines on financial services in the affected communities which includes lending, Community Reinvestment Act, investments, reporting requirements, publishing requirements and temporary banking facilities. Read the statement. Affected financial institutions should contact their primary regulator with any assistance requests. Please contact Viveca Ware regarding any unfulfilled assistance requests.


Regulators
FDIC Launches Alliance for Economic Alliance in Oklahoma
The Federal Deposit Insurance Corporation (FDIC) announced yesterday the launch of the Alliance for Economic Inclusion (AEI) initiative in Northeastern Oklahoma in partnership with the Greater Tulsa United Way, tribal, state and federal agencies, financial institutions, and community-based stakeholders.

“The FDIC is pleased to join this diverse set of community partners to build financial know-how and to increase access to financial services responsive to the needs of people in northeastern Oklahoma,” said Mark Pearce, director of the FDIC division of depositor and consumer protection. The AEI will focus on enhancing consumer financial stability through financial education and access to appropriate credit and deposit services. The more than 1,300 AEI members have opened more than 400,000 bank accounts throughout the FDIC's AEI program. Read more about this story.


Regulation
OCC's Curry Highlights Loan Loss Allowance
Comptroller of the Currency Thomas Curry this week cautioned national banks against continuing to reduce loan loss provisions solely to boost earnings. He emphasized that various economic pressures and soft spots, particularly in the commercial and residential real estate sectors, mean bankers must use proper judgment, based on documentation and a strong underlying rationale, in setting loan loss allowances.

"To be clear, I am not saying that we see an immediate problem at national banks and federal savings associations that demands urgent corrective action," Curry said in prepared remarks. "But I am saying that we are watching reserves very closely, and we expect national banks and federal savings associations to maintain them at appropriate levels. We are ready to take action if and when it is needed."



Economy
Home Prices Up in August: Case-Shiller
Home prices increased 0.9 percent in August, according to the S&P/Case-Shiller home price indexes. Nineteen of the 20 cities and both composites posted positive monthly gains in August; Seattle was the only exception where prices declined 0.1 percent over the month. The 10- and 20-city composites showed an improvement over July's percentages (0.6 percent and 1.2 percent respectively).



Poll

Take This Week’s Quick Poll
Take this week’s Quick Poll on residential real estate lending, and view results from the previous poll on compliance committees. View the Archive.


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