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Annual Report 2015 Federal Financial Institutions Examination Council A N N U A L R E P O R T 2015 Board of Governors of the Federal Reserve System, Consumer Financial Protection Bureau, Federal Deposit Insurance Corporation, National Credit Union Administration, Office of the Comptroller of the Currency, State Liaison Committee ii MEMBERS OF THE COUNCIL Richard Cordray, Director, Consumer Financial Protection Bureau; Debbie Matz, Chairman, National Credit Union Administration; Daniel K. Tarullo, FFIEC Chairman, Member, Board of Governors of the Federal Reserve System; Martin J. Gruenberg, FFIEC Vice Chairman, Chairman, Federal Deposit Insurance Corporation; Thomas J. Curry, Comptroller of the Currency, Office of the Comptroller of the Currency; David J. Cotney, Commissioner of Banks, Commonwealth of Massachusetts. iii iv LETTER OF TRANSMITTAL Federal Financial Institutions Examination Council Arlington, VA 22226 March 31, 2016 The President of the Senate The Speaker of the House of Representatives Pursuant to the provisions of section 1006(f) of the Financial Institutions Regulatory and Interest Rate Control Act of 1978 (12 U.S.C. § 3305), I am pleased to submit the 2015 Annual Report of the Federal Financial Institutions Examination Council. Respectfully, Daniel K. Tarullo Chairman v vi TABLE OF CONTENTS ix Chart of Selected Abbreviations xi Message from the Chairman 1 Overview of the Federal Financial Institutions Examination Council Operations 5 Record of Council Activities 7 State Liaison Committee Report 9 Activities of the Interagency Staff Task Forces 25 The Federal Financial Institution Regulatory Agencies and their Supervised Institutions 34 Assets, Liabilities, and Net Worth of U.S. Commercial Banks, Savings Institutions, and Credit Unions as of December 31, 2015 35 Income and Expenses of U.S. Commercial Banks, Savings Institutions, and Credit Unions for Twelve Months Ending December 31, 2015 37 Appendix A: Relevant Statutes 43 Appendix B: 2015 Audit Report 57 Appendix C: Maps of Agency Regions and Districts 63 Appendix D: Organizational Listing of Personnel vii viii CHART OF SELECTED ABBREVIATIONS ACSSS ................... American Council of State Savings FinCEN .................Financial Crimes Enforcement Network Supervisors FIRIRCA ............... Financial Institutions Regulatory and ALG .......................Agency Liaison Group Interest Rate Control Act of 1978 AML ......................Anti-Money Laundering FIRREA ................. Financial Institutions Reform, Recovery, ASC ......................Appraisal Subcommittee and Enforcement Act of 1989 Assessment ...........Cybersecurity Assessment Tool FRB ........................ Board of Governors of the Federal BCP ........................Business Continuity Planning Reserve System BHC .......................Bank Holding Company FSOC .....................Financial Stability Oversight Council BSA ........................Bank Secrecy Act HMDA ..................Home Mortgage Disclosure Act of 1975 Call Report ........... Consolidated Reports of Condition and IBA .........................International Banking Act of 1978 Income IRR .........................Interest Rate Risk CCIWG ................. Cybersecurity and Critical Infrastructure IT ............................Information Technology Working Group IT Handbook ........ Information Technology Examination CDR .......................Central Data Repository Handbook CFPB ......................Consumer Financial Protection Bureau LAG .......................Legal Advisory Group Council .................. Federal Financial Institutions MOU......................Memorandum of Understanding Examination Council NASCUS .............. National Association of State Credit CRA .......................Community Reinvestment Act of 1977 Union Supervisors CSBS ......................Conference of State Bank Supervisors NCUA ................... National Credit Union Administration DIF .........................Deposit Insurance Fund NCUSIF ................. National Credit Union Share Insurance Dodd-Frank Act ... Dodd-Frank Wall Street Reform and Fund Consumer Protection Act of 2010 NIST ...................... National Institute of Standards and EEO........................Examiner Education Office Technology EGRPRA ............... Economic Growth and Regulatory OCC ....................... Office of the Comptroller of the Paperwork Reduction Act of 1996 Currency FDIC ......................Federal Deposit Insurance Corporation OMB ......................Office of Management and Budget FDICIA .................. Federal Deposit Insurance Corporation PRA .......................Paperwork Reduction Act of 1995 Improvement Act of 1991 RESPA ................... Real Estate Settlement Procedures Act of FFIEC .................... Federal Financial Institutions 1974 Examination Council SDRWG ................. Structure Data Reconciliation Working FFIEC 002 ............. Report of Assets and Liabilities of U.S. Group Branches and Agencies of Foreign Banks SIFI......................... Systemically Important Financial FFIEC 002S ........... Report of Assets and Liabilities of a Institution Non-U.S. Branch that is Managed or SLC ........................State Liaison Committee Controlled by a U.S. Branch or Agency of SLHC .....................Savings and Loan Holding Company a Foreign (Non-U.S.) Bank SLR ........................Supplementary Leverage Ratio FFIEC 019 ............. Country Exposure Report for U.S. SOD .......................Summary of Deposits Branches and Agencies of Foreign Banks TFCC .....................Task Force on Consumer Compliance FFIEC 030 .............Foreign Branch Report of Condition TFEE ......................Task Force on Examiner Education FFIEC 030S ........... Abbreviated Foreign Branch Report of TFIS .......................Task Force on Information Sharing Condition TFOR .....................Task Force on Reports FFIEC 101 ............. Regulatory Capital Reporting for TFOS ......................Task Force on Supervision Institutions Subject to the Advanced TFSS .......................Task Force on Surveillance Systems Capital Adequacy Framework TILA ......................Truth in Lending Act of 1968 FFIEC 102 ............. Market Risk Regulatory Report for TSP .........................Technology Service Provider Institutions Subject to the Market Risk TWG ......................Technology Working Group Capital Rule UBPR .....................Uniform Bank Performance Report FHC .......................Financial Holding Company ix x MESSAGE FROM THE CHAIRMAN their awareness of cybersecurity 2015. These meetings were risks they may face. supplemented by published notices soliciting comments on The Council’s Cybersecurity specific categories of regulations. and Critical Infrastructure To me, a productive EGRPRA Working Group (CCIWG) exercise will be one that results continued to promote in changes in regulation and coordination across the supervisory practices that, federal and state financial in turn, yield a significant institution regulatory agencies reduction in regulatory burden, on critical infrastructure and especially for smaller firms, cybersecurity issues. While while still promoting the each FFIEC member agency is safety and soundness of all responsible for the execution insured depository institutions, of its supervision program to and protecting both the address cybersecurity risk, Deposit Insurance Fund and the coordinated work that financial stability. The FFIEC occurs through the FFIEC is committed to ensuring that supports those activities by this end is achieved. The identifying gaps in the agencies’ agencies are now systematically FFIEC Chairman Daniel K. Tarullo examination procedures and analyzing and considering training in order to strengthen all comments that have been the oversight of cybersecurity received with the goal of As the new chairman of the readiness. prioritizing recommendations Federal Financial Institutions and acting as quickly as possible Examination Council (FFIEC or The Council has also continued to adopt them. Council), I am pleased to report its work on the second that the Council furthered its decennial interagency review As the following report mission of promoting unifor- of regulations mandated describes, the Council and its mity in the supervision and by the Economic Growth task forces and subcommittees consistency in the examination and Regulatory Paperwork have been engaged in many of financial institutions. Reduction Act of 1996 other important initiatives (EGRPRA). While the EGRPRA throughout 2015. One of the Council’s notable review aims to identify achievements this past year was outdated, unnecessary, or I appreciate the Council’s the issuance of a Cybersecurity unduly burdensome regulations accomplishments this past year Assessment Tool, an aid to as they apply to all insured and the work of the dedicated assist financial institutions depository institutions, the FFIEC staff, the constituent in identifying their risks and review is especially focused member agencies, and the State assessing their cybersecurity on the burden imposed on Liaison Committee to bring preparedness. The Council smaller depository institutions. about these accomplishments. developed this assessment In order to hear comments and We will continue to work tool in consultation with the suggestions from the public as together on an interagency basis intelligence community, law to how regulatory burden can to advance our common mission enforcement, and homeland be reduced, FFIEC members of promoting
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