Don't Miss these upcoming IBANYS Webinars for October!!
UBPR Peer Group Comparison: Getting It Right!
Thursday, October 18, 2012
3:00 - 4:30pm ET
Learn more here!
Business Accounts: Who is Authorized to Open, Close, Transact?
Tuesday, October 23, 2012
3:00 - 4:30pm ET
Learn more here!
Commercial Lending Series: Analyzing Ratios & Cash Flow in Commercial Lending
Thursday, October 25, 2012
3:00 - 4:30pm ET
Learn more here!
Managing E-Sign, E-Statements & E-Disclosures
Tuesday, October 30, 2012
3:00 - 4:30pm ET
Learn more here!
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| More than 30 IBANYS members are signed up for IBANYS Regional Meeting Thursday, Oct. 18 at Ramada Geneva Lakefront in Geneva, NY.
Cliff Weber & Miriam Schindel on corporate governance, regulatory and employment law updates...Bharat Nair (WolfPAC) on operational risk...see next week's newsletter for program coverage, links to presentations.
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Government Relations
IBANYS Active on Several Basel III Fronts
With the October 22 deadline for comments looming, IBANYS is active on a number of fronts regarding the proposed Basel III rules, urging that community banks be exempt from the capital rules designed for the large national and global institutions. We commented to the federal agencies, and signed onto an additional comment letter from the Executive Council of State Community Bankers Associations (CCBA), which represents independent state community bankers associations across the country. We supported ICBA's petition on the issue, and submitted an op-ed column to media outlets around New York State. IBANYS also strongly encouraged New York community banks to send their own comments, sign the petition and submit their own customizable op-eds to their local press. (See attachments one) (See attachment two)
Former FDIC Chair Bair: Don't Let TAG Coverage Expire
Former FDIC Chair Sheila Bair told an American Banker interview that she does not think Congress should allow TAG coverage to expire prematurely, but instead should phase it out over a few years. Bair warned of the consequences on community banks if the coverage is allowed to expire at yearend. IBANYS continues to urge all New York community bankers to contact their Congressional Representatives and ask them to support an extension.
Industry to CFPB: Exempt Community Banks from Mortgage Servicing Rules
IBANYS supports ICBA's and the industry's view that the Consumer Financial Protection Bureau exempt small mortgage servicers from proposed servicing rules. In a comment letter to the bureau, ICBA urged exempting servicers that service 10,000 or fewer mortgage loans from a proposed rule that would require more burdensome monthly mortgage statements. The industry's view is that the CFPB's proposed threshold of 1,000 loans is too low to provide significant relief for community bank mortgage servicers. Meanwhile, the industry also called upon the CFPB to protect community bank portfolio lenders under new "qualified mortgage" standards to ensure that mortgage credit is not excessively restricted in Main Street communities.
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Industry Insights
IBANYS & Local Banks Talk Up Community Banking
on Radio
IBANYS and a number of local Capital Region member banks have been "taking to the airways" over the past several weeks in a series of remote broadcast interviews as part of WGNA's "Small Town Tour." Representatives from Pioneer Bank, NBT, First National Bank of Scotia, Ballston Spa National Bank and Bank of Richmondville have, or will, "spread the word" about the importance of local independent community banks to their localities, and their vital role in New York's local and State economies through their involvement in small business, commercial, consumer and mortgage lending. Great job, IBANYS members! You ARE the best ambassadors for the community banking philosophy!
Economic Updates
Housing Starts Up Nationally, Down in Northeast
U.S. builders started construction on homes in September at the fastest rate since July 2008, a further indication that the housing recovery is strengthening and could help the economy grow. Construction activity rose in three of the nation's four regions, although housing starts fell 5.1 percent in the Northeast. Sales of new and previously owned homes have been slowly improving this year. Home prices are starting to show consistent gains, record-low mortgage rates have encouraged more people to buy, and the Fed's aggressive policies could make home-buying affordable for the foreseeable future.
Did YOU KNOW. . . That the First Bank of the United States was a central bank, chartered for a term of twenty years, by the United States Congress on February 25, 1791. The First Bank building is now a National Historic Landmark located in within Independence National Historical Parkin Philadelphia, Pennsylvania - which was the nation's capitol from 1790 to 1800. What is the oldest bank in your area?
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