Vining Sparks IBG, LP, a leading broker/dealer based in Tennessee, is requesting bankers participate in an online survey to gather data from the first quarter of 2012 to better understand the current strength and soundness of banking institutions nationwide.
According to Craig Dismuke, chief economic strategist with Vining Sparks IBG, “The survey contains ten questions and, using the cumulative results, allows us to report on the trends and health of the banking industry. We typically have responses from over 500 banks; however, the larger the sample size the more useful the survey is.” Survey participants who provide e-mail addresses will receive the official results before they are released to the media.
On January 25, the Independent Community Bankers Association made public a reference guide for community bankers on the various titles and provisions of the Restoring American Financial Stability Act of 2010, more widely known as the Dodd-Frank Wall Street Reform and Consumer Protection Act.
The American Bankers Association, which is considered the voice for the $13 trillion banking industry in the United States, renewed its contract with Crowe Horwath LLP for governance, risk and compliance management services as of January 30.
The 11-month total is 13 percent higher than job cuts over same period last year
Although this month’s job cuts were down 0.7 percent from October, the 11-month total for 2011 is 564,297 – officially passing the 2010 year-end total of 529,973, according to the Challenger, Gray & Christmas November 2011 Job Cut Report.
The report, released November 30, addressed the month’s job cuts dominating sectors – government and financial services. Forty-four percent of all jobs cut in the month were in the public sector, resulting in 18,508 jobs eliminated. According to the report, this is the eighth time government job cuts led all others in monthly downsizing.
U.S. Representative Barney Frank, co-author of the Dodd-Frank Reform Act of 2010, announced his retirement after more than three decades of service. The Massachusetts Democrat, a ranking member of the House Financial Services Committee, will not seek re-election in 2012.
Former Representative Barney Frank
This leaves Congress without either of the authors of the landmark financial reform legislation. Democratic Senator Christopher Dodd of Connecticut announced last year that he will not seek another term in 2012.
City National Corporation, which owns City National Bank (CNB), announced today that the company’s top executives are scheduled to make a presentation at the Goldman Sachs U.S. Financial Services Conference in New York on December 6.
Giving the presentation will be City National Corp.’s Chief Executive Officer Russell Goldsmith and Chief Financial Officer Christopher J. Carey. The presentation begins at 10:50 a.m. Eastern. A live Webcast of thepresentation will be available for listening at http://cc.talkpoint.com/gold006/120611a_lr/?entity=24_BPGTHFY and will be available for replay within 24 hours after the presentation at www.cnb.com.
In a rebroadcast of a warning from the Office of the Comptroller of the Currency (OCC), the California Department of Financial Institutions warned that the website, helpwithmybank.com, is an illegitimate site that contains malware.
Investors remain focus on preserving capital as concerns about the global economy rise, threatening international growth rates and the bond market.
In an economic commentary released by Long Beach-based Farmers & Merchants Trust Company (FMTC) in September, vice president and investment officer Jay Ferrara said, “Prevailing fears surrounding the global debt crisis continue to threaten the growth of the U.S. Economy as well as economies throughout Europe and Asia. As analysts continue to adjust their projections, investors are relying on defensive investment strategies to hedge against near-term risk.” Continue reading →
The Federal Reserve released the following statement today (October 17) regarding the approval of the final rule of the Dodd-Frank Wall Street Reform and Consumer Protection Act:
“The Federal Reserve Board on Monday announced the approval of a final rule to implement the resolution plan requirement in the Dodd-Frank Wall Street Reform and Consumer Protection Act.
“The final rule requires bank holding companies with assets of $50 billion or more and nonbank financial firms designated by the Financial Stability Oversight Council for supervision by the Board to annually submit resolution plans to the Board and the Federal Deposit Insurance Corporation.
The Federal Reserve today kept its target range for federal funds rate the same, hoping to ensure the nation continues to climb out of its recession and that inflation levels remain stable.
In an release today from the Fed, an April meeting of the Federal Open Market Committee concluded that although economic recovery is in progress, that progress is happening “somewhat more slowly than the Committee had expected.”