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 […]
Financial Services
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 […]
10 Takeaways From Our “Transforming Debt Collections and Recovery Functions” Podcast
Scott Albahary, Perficient’s financial services chief strategist, and I recently spoke with the Western Bankers Association about using empathy and personalization strategies to improve debt collection and recoveries. If you get a chance, listen to the short episode. But, if you can’t, here are the key points Scott and I make: Banks responded generously to […]
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 […]
How to control sensitive data on unmanaged devices with MCAS (Part 2 of 2)
Welcome back! Last time we talked about controlling file downloads of sensitive content by using a session policy in MCAS. This time we’ll take things a step further and show you how to restrict specific activities like cut/copy, paste, and printing! If you are joining us for the first time, I encourage you to check […]
How to control sensitive data on unmanaged devices with MCAS (Part 1 of 2)
In this day and age, protecting your organization’s sensitive data has started to become exceedingly difficult. Where remote work has become the new norm, you will likely see many end-users using their own unmanaged devices to access corporate information. With this comes the risk of unmanaged devices sending/sharing sensitive information without the ability to control […]
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 […]
Cycle Counts: How to inspire and make it work for growing businesses
Cycle Counting is an organized division of a warehouse into manageable chunks. Regular counts are required for each “chunk.” These “chunks” can be a range of items and/or warehouse locations. To inspire an optimal use of Cycle Counts, you must employ several strategies. We will explore opportunistic and scheduled counts. We will also go into […]
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 […]
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 […]
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 […]
Cash Forecasting During an Unstable Economy
Covid-19 has turned the world’s economies upside down. As preventative measures (such as lock-downs) continue, uncertainty abounds. This uncertainty is making it difficult for companies to gain a clear picture of their finances. In the best of times, when the financial waters are calm and the visibility is clear, cash forecasting remains one of the […]