A Brief History of Diabetes Care For more than 100 years, diabetics have been taking insulin shots to control their blood sugar. As a Type I (my body does not produce any insulin on its own) diabetic, I have been giving myself insulin shots since 1974. When I was initially diagnosed, just after President Ford […]
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
OCC Releases Latest CRA Evaluations for March 2022
The Office of the Comptroller of the Currency (OCC) has released 11 Community Reinvestment Act (CRA) performance evaluations. These evaluations are based upon on-site examinations performed by OCC-trained staff that are conducted every other year, and they assess an institution’s performance in helping to meet the specific credit needs of the communities they serve. This […]
2022 Dodd-Frank Stress Test Scenarios Released
The Office of the Comptroller of the Currency (OCC) recently released the economic and financial market scenarios that will be used in the upcoming stress tests for covered institutions. Federal bank regulators work together to design Comprehensive Capital Analysis and Review (“CCAR”) stress tests that are designed to ensure that even in the case of […]
NY Federal Reserve Evaluates Stablecoin Frameworks
Cryptocurrency continues to grow, and Perficient is committed to helping financial services clients continue to understand and navigate this fast-changing part of the economy. Over the last 90 days, we have let clients know about the federal banking regulators planned cryptocurrency road map, explained what steps national banks need to take to begin crypto activities, […]
Acting Comptroller of the Currency Wants Crypto Regulated
Acting Comptroller of the Currency Michael J. Hsu spoke in late January at the British-American Business Transatlantic Finance Forum Executive Roundtable regarding the regulation of crypto-assets, including stablecoins. Mr. Hsu began his speech by noting how cryptocurrency has gone “mainstream with consumers,” noting that 16% of American adults claim to have owned, traded, or used […]
The Pros and Cons of a Potential U.S. Central Bank Digital Currency (CBDC)
On January 20, 2022 the Federal Reserve released a discussion paper that examined both the pros and cons of a potential U.S. Central Bank Digital Currency (CBDC). The Federal Reserve invited comments from the public, in particular regarding whether and how a CBDC could improve America’s safe and effective domestic payments system. For the purpose […]
OCC Sets 2022 Assessment Schedule
So, you’re the CEO of a national banking corporation or a national savings bank. Therefore, your primary federal bank regulator is the Office of the Controller of the Currency (OCC). The OCC conducts frequent on-site examinations as they investigate, prepare, and then issue its reports of examination. Not only do you and your staff get […]
OCC Provides Roadmap for National Banks and Savings Associations To Conduct Crypto Activities
The Office of the Comptroller of the Currency (“OCC”) issued a letter (1179) that national banks and federal savings associations must demonstrate that they have adequate controls in place before they can engage in cryptocurrency, distributed ledger, and stablecoin activities. The OCC had issued multiple Interpretive Letters in 2020 and earlier this year related to […]
Highlights From Federal Bank Regulators’ Joint Statement on Cryptocurrency Assets
Recognizing that regulated and non-regulated financial institutions seek to engage in cryptocurrency and crypto asset activities, the three largest federal bank regulators, the Federal Reserve, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency, recently issued a joint statement on crypto assets. The regulators broadly defined crypto assets as any […]
Growing Past $50 Billion: What Banks Need To Know About Section 165 of the Dodd-Frank Act
Section 165(a) of the Dodd-Frank Act requires the Federal Reserve to establish “enhanced supervision and prudential standards” for bank holding companies with more than $50 billion assets. This scrutiny level is stronger than the standards applicable to smaller institutions and increases based on a bank holding company’s unique riskiness. A. Standards the Federal Reserve Must […]
Federal Reserve Extends FedNow Service Comment Period
Do blog readers like to have their opinions heard? For those that do, the Federal Reserve Board has announced it will extend, until September 9, 2021, the comment period for its proposal to govern funds transfers over the Federal Reserve Banks’ FedNow Service. The FedNow Service is a new 24x7x365 service that will support instant […]
Federal Reserve Releases Bank’s Annual CCAR Stress Test Results
The Federal Reserve released in late June the results of its annual bank stress tests. The Fed’s Comprehensive Capital Analysis and Review (“CCAR”) stress tests are designed to ensure that large banks can lend to households and businesses even in a severe recession. The annual exercise evaluates large banks’ resilience by estimating their loan losses, […]