Posted January 02, 2020

It's hard to believe we are almost twenty years into the 21st century. As I begin my tenth year in Atlanta, I am struck by how conditions have changed. When I arrived in 2010, the industry was mired in the financial crisis, bank failures were increasing, and legacy issues continued to plague us. In contrast, the Board's most recent Semi-Annual Supervision & Regulation Report, issued in November, noted continued overall robust conditions in community banks, as well as a steady decline in supervisory findings. Quite a difference from 2010!

However, as always, managing financial and operational risks remains a high priority. Firms face increasing competition from nonbanks, rapidly changing cyber security threats, and challenges associated with CECL implementation and the transition away from LIBOR.

As part of our efforts to assist institutions in dealing with the ever-evolving technology landscape, we will be hosting "Innovation Office Hours" at the Federal Reserve Bank of Atlanta on Wednesday, February 26, 2020. This event will provide an opportunity for banks and fintech firms alike to speak with Federal Reserve staff about innovation in banking and ask questions about the supervisory and regulatory implications. The program is intended to be a resource for supervised financial institutions and technology firms that provide services to banks. Technology is growing at a rapid pace, and our goal is to collaborate with both our banks and the industry to promote safer innovation. For more information or to register, click here. We hope that you can join us for this informative event! As always, this edition of "ViewPoint" includes our regular feature, State of the District.

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