Fiscal Year 2021 Bank Supervision Operating Plan Office of the Comptroller of the Currency Committee on Bank Supervision

This bulletin provides a self-assessment tool for banks1 to evaluate their preparedness for the expected cessation of the London InterBank Offered Rate (Libor).

The OCC will collect the Diversity Self-Assessment for year-end 2020 by May 31, 2021.

The FDIC has automated Form 2710/05, Diversity Self-Assessment of FDIC Regulated Financial Institutions instrument via the new FID-SA application that is accessible through the FDICconnect portal.

It is no secret that the community banking sector has experienced increased pressure in recent years. Economic uncertainty, growing regulatory complexity and aging technology have eaten into profitability.

An outsized crisis requires bold action. The banking industry responded in kind when the economy spiraled as a result of the Covid-19 pandemic.

The same perspective that forges the insane riches will also be the catalyst behind colossal losses taking place in the blink of an eye. All of this will force a “come to Jesus” for the Street’s compliance departments and force a meaningful de-leveraging.

Also the long-awaited GameStop ATM, Voltswagen, retail traders and NFTs.

Lured by opportunities to beef up lending, add wealth management clients and pursue acquisitions of community banks — and the promise of lower taxes over time — the parent of First Foundation Bank is relocating its corporate headquarters from California to Dallas.

China 50 years ago was dirt poor: despite its huge population, its economy was a tiny fraction of U.S. GDP. This year Chinese GDP will be three quarters of U.S. GDP. On a purchasing power parity basis, China overtook the U.S. in 2017. Losing — or not even fighting for — Taiwan would be seen all over Asia as the end of American predominance in the region.