Carl Aridas

Carl is certified in the Scaled Agile Framework (SAFe), a Scrum Master, and a Six Sigma Green Belt project manager with more than 25 years of experience in financial services overseeing large-scale development global, multi-currency accounting, regulatory reporting, and financial reporting software platforms. He has hands-on experience completing, reviewing, and filing Federal Reserve, FFIEC, and IRS reports, including Call Reports, Y9C reports, 2900 reports, TIC reports, and arbitrage rebate reports.

Blogs from this Author

FDA Approves Marketing of AI/ML Device To Find Colon Cancer

The Impact of Colon Cancer According to the National Institutes of Health (NIH), colon cancer is the third-leading type of cancer death in the United States. Cancer in the colon usually starts from polyps or other precancerous growths in the rectum or the colon (large intestine). As part of a colorectal cancer screening and surveillance […]

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OCC Releases Community Reinvestment Act (CRA) Evaluations

The Office of the Comptroller of the Currency (OCC) has released 15 Community Reinvestment Act (CRA) performance evaluations.  These evaluations are based on on-site examinations by OCC-trained staff. On-site examinations are done every other year. Reviews, which can take weeks, assess an institution’s performance in helping to meet the credit needs of communities, including those […]

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Federal Reserve Board Now Accepting Applications For The Community Advisory Council

The Federal Reserve Board announced this week that it is accepting applications from individuals who wish to be considered for membership on the Community Advisory Council (CAC).  Formed in 2015, CAC advises the Federal Reserve Board on issues affecting consumers and communities.  The Federal Reserve Board also has two other advisory councils with members represent […]

Bank Regulators Seeking Comments on the Use of AI and ML in the Industry

Background: The five federal financial regulatory agencies are gathering insight on financial institutions’ use of artificial intelligence (AI) and machine learning (ML). The five federal agencies are: the Consumer Financial Protection Bureau (CFPB), the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve Board (Fed), the National Credit Union Administration (NCUA) and the Office of the […]

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Overview of FDA’s AI/ML-Based Software as a Medical Device Action Plan

In a landmark effort to both guide and spur artificial intelligence (AI) and machine learning (ML) development in the medical field, the US Food and Drug Administration (FDA) has released an Artificial Intelligence/Machine Learning (AI/ML)-Based Software as a Medical Device (SaMD) Action Plan. Background The plan was created by the FDA’s Digital Health Center of […]

FR 2052a

Tools for Reporting with the FR 2052a Complex Institution Liquidity Monitoring Report

Previously, I outlined the data that can be reported with the FR 2052a Complex Institution Liquidity Monitoring Report. My next blog will review the tools that can be used to help with reporting. With the need to consolidate entities on a line-by-line basis and to report such a large amount of information, whether on a […]

Treasury and Federal Reserve Coordinate to Boost Investments in MDIs and CDFIs

In early March, a series of programs were announced by the U.S. Department of the Treasury, and the Federal Reserve subsequently announced rules changes to leverage the impact of the programs.  The largest program announced, dollar-wise, by the Treasury Department was the creation and funding of the Emergency Capital Investment Program (ECIP).  The program was […]

FR 2052a

Data to Be Reported with the FR 2052a Complex Institution Liquidity Monitoring Report

In my last blog I discussed the consolidations required for success with the FR 2052a Complex Institution Liquidity Monitoring Report. My next blog will outline the data that can be reported. The FR 2052a report collects data for 10 distinct tables covering 115 product types, 14 counterparty types, 72 asset classes, and 75 maturity buckets […]

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Impact of Covid-19 Felt in the Shared National Credit Reviews Released by Bank Regulators

To misquote the great poet Alfred Lord Tennyson, “In the spring a young banker’s fancy lightly turns to thoughts of SNC Classifications.” SNC (pronounced like the candy bar but without the “ers”) stands for the Shared National Credit Program, which, since 1977, has assessed risk in the largest and most complex credits shared by multiple […]

FR 2052a

Consolidating Institutions with the FR 2052a Complex Institution Liquidity Monitoring Report

In my last blog I outlined the recent changes to the FR 2052a Complex Institution Liquidity Monitoring Report. Now I want to discuss the consolidations required for success. The first challenge faced by institutions looking to comply with the new reporting requirements and thresholds is to determine which subsidiary institutions must be consolidated. As required […]

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Federal Reserve Changes Derivative Netting Rules

On February 18, the Federal Reserve Board announced a final rule that they claim is intended to reduce risk and increase efficiency in the financial system by applying derivative netting protections to a broader range of financial institutions. Sections 401-407 of the Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA) validate netting contracts among […]

FR 2052a

Recent Changes to the FR 2052a Complex Institution Liquidity Monitoring Report

Previously, I discussed the history FR 2052a Complex Institution Liquidity Monitoring Report. My next blog will outline the recent changes to the report. As allowed in the FR’s 2052a guidelines, the Federal Reserve has already requested that monthly filers submit FR 2052a data on a more frequent basis and altered the asset and liquidity thresholds […]

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