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Daily e-News Bulletin

August 23, 2012

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Top News:

ICBA Busts AOCI Myth

The Basel III proposal to include accumulated other comprehensive income in capital could have a fast and negative impact on community bank regulatory capital. Read more.

Other News: Click Headline for Story

	Fed Minutes Show Discussion of Monetary Easing
	Existing-Home Sales Up 2.3 Percent
	CBO: “Fiscal Cliff” Would Cause Recession in 2013
	Overdraft Study Shows Need for Flexibility
	Seminar Features Western Issues Facing Directors
	White Paper Addresses FFIEC Statement on Cloud Computing

Capital Rules

ICBA Busts AOCI Myth

The Basel III proposal to include accumulated other comprehensive income in capital could have a fast and negative impact on community bank regulatory capital. The idea that including AOCI in capital will help banks meet regulatory standards is one of several myths busted on ICBA’s comprehensive Basel III website.

In fact, because AOCI positions are subject to volatility due to changes in interest rates and credit spreads, current positive balances cannot be sustained forever. Rapid increases in rates and spreads can reverse the gain position and force it to become negative in short order.

ICBA is urging community bankers and industry allies to sign a petition calling on regulators to exempt community banks from proposed Basel III capital rules and to allow community banks to continue operating under Basel I capital regulations. Sign the Petition. Learn More.

Regulators

Fed Minutes Show Discussion of Monetary Easing

Many Federal Reserve officials said that additional monetary accommodation would likely be warranted “fairly soon” unless incoming economic information points to a substantial recovery, according to Federal Open Market Committee minutes. FOMC members agreed that economic information suggests that activity has decelerated in recent months to a slower pace than they had anticipated, the minutes from the panel’s July 31-Aug. 1 meeting show. Participants discussed policy tools that the committee might employ, such as extending the period over which it expects to maintain the target federal funds rate at historic lows.

Economy

Existing-Home Sales Up 2.3 Percent

Sales of existing homes rose 2.3 percent to a seasonally adjusted annual rate of 4.47 million in July, the National Association of Realtors reported. Sales were up 10.4 percent from the year before, the fifth consecutive month of year-over-year increases. Monthly sales rose in every region but the West.

Economy

CBO: “Fiscal Cliff” Would Cause Recession in 2013

Going over the “fiscal cliff” of expiring tax cuts and reduced federal spending at year-end would plunge economic conditions into a recession, the Congressional Budget Office reported. The CBO’s latest budget and economic outlook found that shrinking the deficit by approximately $500 billion would lead to a 0.5 percent decline in the gross domestic product and a 9 percent unemployment rate in the second half of 2013.

In Depth

Overdraft Study Shows Need for Flexibility

ICBA’s recent Overdraft Payment Services Study shows that community banks inform customers of their options and offer flexibility to minimize overdraft costs, according to a new in-depth article on the ICBA Independent Banker website. The study found that 100 percent of community banks keep their customers informed about overdraft programs. Read the Article.

Education

Seminar Features Western Issues Facing Directors

ICBA is hosting an upcoming seminar focused on issues facing community bank directors in the West. The 2012 Directors Conference: Western Issues, scheduled for Nov. 1-3 in the Kohala Coast, Hawaii, will help directors establish, rebuild and sustain their community banks’ growth and culture while providing new ways to look at, analyze and solve some of the industry’s toughest challenges. Register Online.

Products and Services

White Paper Addresses FFIEC Statement on Cloud Computing

CompuShare, an ICBA Preferred Service Provider, released a white paper to provide financial institutions with additional education about the recent Federal Financial Institutions Examination Council statement on cloud computing. “The FFIEC Takes on Cloud Computing” white paper tackles the subject matter in the FFIEC resource document by evaluating, point by point, the risks and merits of outsourced cloud computing in the financial industry, an increasingly adopted technology achieving critical mass in the United States. Read More.

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