Annual Report 2018
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ancial I in ns F ti l t a u r t i e o d n e s F E l x i a c Federal Financial Institutions m n i u nation Co Examination Council ANNUAL REPORT 2018 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 Members of the Council Jelena McWilliams, FFIEC Chairman, Chairman, Federal Deposit Insurance Corporation Kathleen Kraninger, Randal K. Quarles, ancial I FFIEC Vice Chairman, in ns Member and Vice Chair for Director, Consumer Financial F ti Supervision, Board of Governors of l t Protection Bureau a u the Federal Reserve System r t i e o d n e s F E l x i a c m n i u nation Co Greg Gonzalez, Joseph M. Otting, Chairman, Comptroller of the Currency, State Liaison Committee, Office of the Comptroller of the Currency Commissioner, Tennessee Department of Financial Institutions J. Mark McWatters, Chairman, National Credit Union Administration FFIEC Annual Report | 2018 iii Letter of Transmittal Feeral Fnanal Inttuton Eanaton Counl 01 Fara re • Roo 081a • Arlnton A 2222-0 • 0 188 • FA 0 26446 • eo March 29, 2019 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 2018 Annual Report of the Federal Financial Institutions Examination Council. Respectfully, Jelena McWilliams Chairman oar o oernor o te Feeral Reere te Conuer Fnanal roteton ureau Feeral epot Inurane Corporaton National Credit Union Administration, Office of the Comptroller of the Currency, State Liaison Committee FFIEC Annual Report | 2018 v Table of Contents Members of the Council ..........................................................................ii Letter of Transmittal .............................................................................iv Table of Contents ................................................................................vi Chart of Selected Abbreviations ................................................................. viii Message from the FFIEC Chairman ................................................................x Overview of the Federal Financial Institutions Examination Council Operations .........................4 Record of Council Activities .......................................................................8 State Liaison Committee .........................................................................12 Activities of the Interagency Staff Task Forces ......................................................14 Task Force on Consumer Compliance .........................................................15 Task Force on Examiner Education ............................................................17 Task Force on Information Sharing ............................................................21 Task Force on Reports .......................................................................23 Task Force on Supervision ...................................................................29 Task Force on Surveillance Systems ...........................................................32 The Federal Financial Institution Regulatory Agencies and their Supervised Institutions .................36 Board of Governors of the Federal Reserve System ..............................................38 Consumer Financial Protection Bureau ........................................................40 Federal Deposit Insurance Corporation ........................................................42 National Credit Union Administration ........................................................44 Office of the Comptroller of the Currency ......................................................45 Assets, Liabilities, and Net Worth of U.S. Commercial Banks, Savings Institutions, and Credit Unions as of December 31, 2018 ............................................................................46 Income and Expenses of U.S. Commercial Banks, Savings Institutions, and Credit Unions for the Twelve Months Ending December 31, 2018. .47 Appendix A: Relevant Statutes ...................................................................48 Appendix B: 2018 Audit Report ...................................................................56 Appendix C: Maps of Agency Regions and Districts .................................................70 Board of Governors of the Federal Reserve System ..............................................72 Consumer Financial Protection Bureau ........................................................73 Federal Deposit Insurance Corporation Supervisory Regions. 74 National Credit Union Administration ........................................................75 Office of the Comptroller of the Currency .....................................................76 Appendix D: Organizational Listing of Personnel ...................................................78 FFIEC Annual Report | 2018 vii Chart of Selected Abbreviations ACSSS ................... American Council of State Savings FRB ........................ Board of Governors of the Federal Supervisors Reserve System ALG .......................Agency Liaison Group FSOC ..................... Financial Stability Oversight Council AML ......................Anti-Money Laundering HMDA .................. Home Mortgage Disclosure Act of ASC ......................Appraisal Subcommittee 1975 BHC .......................Bank Holding Company IBA .........................International Banking Act of 1978 BSA ........................Bank Secrecy Act IT ............................Information Technology Call Report ........... Consolidated Reports of Condition LAG .......................Legal Advisory Group and Income LIBOR ...................London Interbank Offer Rate CCIWG ................. Cybersecurity and Critical Infrastructure Working Group NASCUS .............. National Association of State Credit CDR .......................Central Data Repository Union Supervisors CECL .....................Current Expected Credit Losses NCUA ................... National Credit Union CFPB ...................... Consumer Financial Protection Administration Bureau NCUSIF ................. National Credit Union Share Council .................. Federal Financial Institutions Insurance Fund Examination Council OCC ....................... Office of the Comptroller of the CSBS ...................... Conference of State Bank Currency Supervisors OMB ......................Office of Management and Budget DIF ......................... Deposit Insurance Fund OTS ........................Office of Thrift Supervision Dodd-Frank Act ... Dodd-Frank Wall Street Reform and PRA .......................Paperwork Reduction Act of 1995 Consumer Protection Act of 2010 SEC ........................ Securities and Exchange EEO........................Examiner Education Office Commission EGRPRA ............... Economic Growth and Regulatory Paperwork Reduction Act of 1996 SIFI......................... Systemically Important Financial Institution FASB ...................... Financial Accounting Standards Board SLC ........................State Liaison Committee FDIC ...................... Federal Deposit Insurance SLHC ..................... Savings and Loan Holding Corporation Company FDICIA .................. Federal Deposit Insurance SOD .......................Summary of Deposits Corporation Improvement Act of TFCC ..................... Task Force on Consumer 1991 Compliance FFIEC .................... Federal Financial Institutions TFEE ......................Task Force on Examiner Education Examination Council TFIS .......................Task Force on Information Sharing FHC .......................Financial Holding Company TFOR .....................Task Force on Reports FinCEN ................. Financial Crimes Enforcement Network TFOS ......................Task Force on Supervision FIRIRCA ............... Financial Institutions Regulatory TFSS .......................Task Force on Surveillance Systems and Interest Rate Control Act of 1978 TSP .........................Technology Service Provider FIRREA ................. Financial Institutions Reform, UBPR .....................Uniform Bank Performance Report Recovery, and Enforcement Act of 1989 FFIEC Annual Report | 2018 ix Message from the FFIEC Chairman the reporting frequency of approximately 51 percent of required data items for smaller, less complex institutions under $1 billion in assets. Additionally, as part of the initiative, the agencies eliminated or reduced reporting frequency of 28 percent of required data items for institutions not eligible for the shorter Call Report. In November 2018, the agencies published a proposed rule to implement Section 205 of the Economic Growth, Regulatory Relief, and Consumer Protection Act by expanding the eligibility to file the agencies' most streamlined Call Report to certain institutions with less than $5 billion in total consolidated assets. FFIEC Chairman, Jelena McWilliams. The agencies also proposed to reduce by approximately 37 percent the number of existing data items reportable in the FFIEC I am pleased to report that the FFIEC continued 051 Call Report for the first and third calendar its high level of performance and productivity quarters. By raising the threshold for filing the throughout 2018. The Council continues to streamlined Call Report to $5 billion in total advance its mission