Preferred Service Providers (PSP) Announcements
FROM QWICKRATE:
Attend an informational webinar.Connect and attend from your office—free of charge. Join us for more information on industry topics or to learn about the benefits of our CD Marketplace and other QwickRate solutions.
Why NOW is the Time to Focus on Loan Portfolio Credit RiskSelect the one that best fits your schedule:
Wednesday, March 25 at 2:00 pm ET
Duration: 45 minutes
Register Now
Thursday, March 26 at 11:00 am ET
Duration: 45 minutes
Register Now
Featured Speakers:
David Ruffin, Principal, IntelliCredit
Shawn O'Brien, President, QwickRate
It is a fact that vintage loans almost always yield more risk late in a credit cycle. As we get nearer to that inevitable stage, lenders need to stay on top of emerging risk in real time, since empirical data indicates a correlation between a delay in addressing emerging credit risk and increased losses. Now is the time for vigilance. And given the immediate credit impact of the coronavirus emergency, inventorying emerging portfolio risks, such as in the broadly impacted services industries will be an investment in that vigilance. Join this webinar to hear more and learn about IntelliCredit, a new-generation credit risk management solution that detects emerging credit risk and stresses early, before serious deterioration and losses occur. Don't miss this webinar.
_________________________________________________________________________________________________________________
FDIC template comment letter on brokered deposits.
http://www.qwickrate.com/documents/banker_template.docx
On February 10, 2020, the FDIC issued a notice of proposed rulemaking (NPR) to revise some of the brokered deposit regulations in Part 337. The agency wants to update and clarify those rules in light of new technologies and innovations introduced in the last three decades.
The FDIC is inviting public comments on its proposed rules through April 10, 2020, and we’re encouraging you to ask your members to participate in requesting the FDIC to maintain its current position on classifying deposit listing services as non-broker entities. We are not asking the agency to change rules that currently apply; we are simply asking for the agency to codify classification criteria that have been confirmed by FDIC staff opinions over many years.
Important background
A critical component of the NPR clarifies the FDIC’s definition of a deposit broker, in which the agency describes specific activities to further explain what is meant by facilitating the placement of deposits. Having previously relied on staff interpretations and opinions to reduce confusion, the FDIC is now attempting to establish a framework for determining whether a deposit placement should be classified as brokered or non-brokered function.
Extending the clarity
The FDIC places restrictions on the brokered deposits that less-than-well-capitalized institutions can accept. The FDIC’s restrictions do not apply to non-brokered deposits, which include offerings posted in the QwickRate Marketplace. For the past 30 years, the FDIC has recognized QwickRate as a deposit listing service whose sole business function is to provide information about deposit offerings. We do not want that distinction to get lost in the shuffle as changes in brokered deposit regulations are enacted, and we are asking the FDIC to codify its long-standing position regarding non-brokered listing services.
Why codifying matters
Non-brokered deposits provide a consistent, reliable funding source to community banks that want to extend their deposit-generating capabilities outside of their local market. Despite the obvious value they bring to these financial institutions, the FDIC has never codified the criteria that define the non-broker status of deposit listing services. We believe that codification should take place now – not only to clarify FDIC terminology, but also to ensure that the way your members do business today continues in the future, with the assurance that they can utilize a qualified deposit listing service for non-brokered deposits.
Commenting is simple
For your convenience, we have prepared a comment letter that your members can simply sign and forward to the FDIC.
Instructions to follow for submitting comments are posted on the agency’s website at: https://www.fdic.gov/regulations/laws/federal/2020/2020-unsafe-unsound-banking-practices-brokered-deposits-3064-ae94.html
Comments may also be sent via email to comments@fdic.gov using the subject line: “February 10, 2020 - Unsafe and Unsound Banking Practices: Brokered Deposits Restrictions; Notice of Proposed Rulemaking; Comment Request (RIN 3064-AE94)”
The actual FDIC notice of proposed rulemaking can be accessed by clicking on this link: https://www.govinfo.gov/content/pkg/FR-2020-02-10/pdf/2019-28275.pdf
Attend an informational webinar.Connect and attend from your office—free of charge. Join us for more information on industry topics or to learn about the benefits of our CD Marketplace and other QwickRate solutions.
Why NOW is the Time to Focus on Loan Portfolio Credit RiskSelect the one that best fits your schedule:
Wednesday, March 25 at 2:00 pm ET
Duration: 45 minutes
Register Now
Thursday, March 26 at 11:00 am ET
Duration: 45 minutes
Register Now
Featured Speakers:
David Ruffin, Principal, IntelliCredit
Shawn O'Brien, President, QwickRate
It is a fact that vintage loans almost always yield more risk late in a credit cycle. As we get nearer to that inevitable stage, lenders need to stay on top of emerging risk in real time, since empirical data indicates a correlation between a delay in addressing emerging credit risk and increased losses. Now is the time for vigilance. And given the immediate credit impact of the coronavirus emergency, inventorying emerging portfolio risks, such as in the broadly impacted services industries will be an investment in that vigilance. Join this webinar to hear more and learn about IntelliCredit, a new-generation credit risk management solution that detects emerging credit risk and stresses early, before serious deterioration and losses occur. Don't miss this webinar.
_________________________________________________________________________________________________________________
FDIC template comment letter on brokered deposits.
http://www.qwickrate.com/documents/banker_template.docx
On February 10, 2020, the FDIC issued a notice of proposed rulemaking (NPR) to revise some of the brokered deposit regulations in Part 337. The agency wants to update and clarify those rules in light of new technologies and innovations introduced in the last three decades.
The FDIC is inviting public comments on its proposed rules through April 10, 2020, and we’re encouraging you to ask your members to participate in requesting the FDIC to maintain its current position on classifying deposit listing services as non-broker entities. We are not asking the agency to change rules that currently apply; we are simply asking for the agency to codify classification criteria that have been confirmed by FDIC staff opinions over many years.
Important background
A critical component of the NPR clarifies the FDIC’s definition of a deposit broker, in which the agency describes specific activities to further explain what is meant by facilitating the placement of deposits. Having previously relied on staff interpretations and opinions to reduce confusion, the FDIC is now attempting to establish a framework for determining whether a deposit placement should be classified as brokered or non-brokered function.
Extending the clarity
The FDIC places restrictions on the brokered deposits that less-than-well-capitalized institutions can accept. The FDIC’s restrictions do not apply to non-brokered deposits, which include offerings posted in the QwickRate Marketplace. For the past 30 years, the FDIC has recognized QwickRate as a deposit listing service whose sole business function is to provide information about deposit offerings. We do not want that distinction to get lost in the shuffle as changes in brokered deposit regulations are enacted, and we are asking the FDIC to codify its long-standing position regarding non-brokered listing services.
Why codifying matters
Non-brokered deposits provide a consistent, reliable funding source to community banks that want to extend their deposit-generating capabilities outside of their local market. Despite the obvious value they bring to these financial institutions, the FDIC has never codified the criteria that define the non-broker status of deposit listing services. We believe that codification should take place now – not only to clarify FDIC terminology, but also to ensure that the way your members do business today continues in the future, with the assurance that they can utilize a qualified deposit listing service for non-brokered deposits.
Commenting is simple
For your convenience, we have prepared a comment letter that your members can simply sign and forward to the FDIC.
Instructions to follow for submitting comments are posted on the agency’s website at: https://www.fdic.gov/regulations/laws/federal/2020/2020-unsafe-unsound-banking-practices-brokered-deposits-3064-ae94.html
Comments may also be sent via email to comments@fdic.gov using the subject line: “February 10, 2020 - Unsafe and Unsound Banking Practices: Brokered Deposits Restrictions; Notice of Proposed Rulemaking; Comment Request (RIN 3064-AE94)”
The actual FDIC notice of proposed rulemaking can be accessed by clicking on this link: https://www.govinfo.gov/content/pkg/FR-2020-02-10/pdf/2019-28275.pdf
QwickRate – access to the premier non-brokered CD Marketplace for funding and investing with more than 3,000 institutional subscribers across the nation.
QwickAnalytics®: - access affordable, time-saving bank research, performance analysis and regulatory tools - available online in just a few clicks.
CCBN Members will receive a 10% discount on both QwickAnalytics and the QwickRate CD Marketplace. Members can also receive a free trial of QwickAnalytics, which includes CECLSolver™. Contact Melissa Wallace from QwickRate at 800.285.8626 ext. 4062 or melissa.wallace@qwickrate.com.
Services Include:
The QwickRate CD Marketplace provides banks with a cost-effective approach to gain direct access to a nationwide market of 3,000 financial institutions and speed the process for non-brokered funding and investing. All direct deposits generated as a result of listing rates in the QwickRate Marketplace are classified as non-brokered, providing banks with a reliable source of institutional deposits to fund loan portfolios, avoid repricing local deposits, or satisfy regulators’ requirements to diversify.
QwickAnalytics delivers affordable and compelling online research, regulatory and analytics tools designed specifically for community bankers. With online access to extensive, robust data and powerful tools, banks are able to simplify the process of assessing the competition, benchmarking their bank and peers, and meeting examiner expectations with CECLSolver and the Credit Stress Test. Ask about our new Excel Add-In Tool for the ultimate in custom research: you can download any and all QwickAnalytics data directly into your own spreadsheet.
Learn more about QwickRate at: www.qwickrate.com
QwickAnalytics®: - access affordable, time-saving bank research, performance analysis and regulatory tools - available online in just a few clicks.
CCBN Members will receive a 10% discount on both QwickAnalytics and the QwickRate CD Marketplace. Members can also receive a free trial of QwickAnalytics, which includes CECLSolver™. Contact Melissa Wallace from QwickRate at 800.285.8626 ext. 4062 or melissa.wallace@qwickrate.com.
Services Include:
The QwickRate CD Marketplace provides banks with a cost-effective approach to gain direct access to a nationwide market of 3,000 financial institutions and speed the process for non-brokered funding and investing. All direct deposits generated as a result of listing rates in the QwickRate Marketplace are classified as non-brokered, providing banks with a reliable source of institutional deposits to fund loan portfolios, avoid repricing local deposits, or satisfy regulators’ requirements to diversify.
QwickAnalytics delivers affordable and compelling online research, regulatory and analytics tools designed specifically for community bankers. With online access to extensive, robust data and powerful tools, banks are able to simplify the process of assessing the competition, benchmarking their bank and peers, and meeting examiner expectations with CECLSolver and the Credit Stress Test. Ask about our new Excel Add-In Tool for the ultimate in custom research: you can download any and all QwickAnalytics data directly into your own spreadsheet.
Learn more about QwickRate at: www.qwickrate.com