Purpose Five federal financial institution regulatory agencies, 1 in conjunction with the state bank and state credit union regulators, (collectively, agencies) are jointly issuing this statement to emphasize the expectation that supervised institutions with LIBOR exposure continue to progress toward an orderly transition away from LIBOR. Additionally, this statement includes clarification regarding new LIBOR contracts, considerations when assessing appropriateness of

Washington, D.C. – Statement from CSBS President and CEO John W. Ryan on the Report on Stablecoins by the President’s Working Group on Financial Markets, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency: “We look forward to examining the PWG’s stablecoin report more fully and sharing our supervisory experience in this area with PWG

Statement from CSBS President and CEO John W. Ryan on Graham Steele’s Confirmation as Assistant Secretary for Financial Institutions: “State financial regulators look forward to working with Assistant Secretary Steele on oversight of our nation’s financial institutions. Close coordination between state and federal regulators protect consumers, families and communities while creating the regulatory clarity financial institutions need to innovate within

The Office of the Comptroller of the Currency, Federal Reserve Board, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the state regulators, collectively the agencies, recognize the serious impact of tornadoes on the customers and operations of many financial institutions and will provide appropriate regulatory assistance to affected institutions subject to their supervision. The agencies encourage institutions

By CSBS Chief Economist Thomas F. Siems, Ph.D. With the CSBS second quarter 2023 Community Bank Sentiment Index ( CBSI) dropping again to another record low, community banker pessimism on the outlook for the U.S. economy appears to have fallen into a dark abyss. All seven components that comprise the index fell from the previous quarter, with three indicators setting

By CSBS President and CEO Jim Cooper Fifteen years ago, Congress transformed the mortgage industry by mandating the use of a technology platform created by state financial regulators. Today, that platform allows millions of Americans to make financial decisions and transactions with confidence. Whether they’re obtaining a mortgage to make what is likely their largest lifetime purchase or sending money

Strong relationships between state and federal regulators are crucial to effective financial regulation. These relationships form the basis for coordination and collaboration across a range of supervisory processes and efforts. The State Liaison Committee (SLC) brings an important state view to the Federal Financial Institutions Examination Council. Last week, SLC members gathered in Washington, D.C. for a briefing hosted at

Congratulations to the team of students from the University of Tennessee at Martin that edged out 34 other teams to win this year’s CSBS Community Bank Case Study Competition. Their case study examined how a local community bank, Commercial Bank & Trust Company in Paris, Tennessee, recruits and retains talent, approaches succession planning and uses technology to advance operations. CSBS

By Thomas F. Siems, Ph.D., CSBS Chief Economist The CSBS third quarter 2023 Community Bank Sentiment Index ( CBSI) rebounded sharply from last quarter’s record low, with all seven components that comprise the index advancing. At 86, the index remains well below the neutral level of 100, but community banker pessimism on the outlook for the U.S. economy appears to

State regulators, in collaboration with the Bankers' Electronic Crimes Taskforce and the U.S. Secret Service, this week released an updated Ransomware Self-Assessment Tool (R-SAT) for banks to help mitigate new risks associated with ransomware attacks and identify security gaps. The new version updates the R-SAT originally released in 2020 due to evolutions in the ransomware threat environment, bad actor tactics