IBANYS Weekly E-Newsletter
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- Visit our website at www.ibanys.net to review all our daily updates on COVID-19 beginning on March 16.
- All in person IBANYS meetings including the annual convention have been postponed.
- However, our webinars are still being offered; many address COVID-19 information for community banks. See information below regarding webinar offerings.
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IBANYS wants to ensure we have the correct contact information on file for all community banks. We need your help and ask that you please complete the attached fillable form and return it to Linda Gregware lindag@ibanys.net. Thank you.
Bank update request
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The President's Message:
IBANYS News and Updates
By John Witkowski, President & CEO
Beginning March 16, IBANYS has sent out daily (often, more than once daily) updates to New York community banks to provide information and developments regarding the impact that coronavirus (COVID-19) is having on New York community banks, as well as legislative and regulatory developments. If you have missed any of these communications, or would like to refer back to them,
each is included on our website
.
Click the link:
https://ibanys.net/covid-19/
IBANYS, today, wrote to the New York Congressional Delegation to support ICBA's recommend actions that Congress provide at least an additional $250 million for the Paycheck Protection Program (PPP), and to urge the adoption of a set of recommendations to modify the PPP.
Here
is the ICBA letter, and
here
is IBANYS' letter to the New York Congressional Delegation.
IBANYS continues to work with a wide array of resources to provide information to New York community banks
as additional details, programs, initiatives and updates become available. We are in contact with the New York State Department of Financial Services, OCC, FDIC, the Federal Reserve, Members of our New York Congressional Delegation & State Legislature, our partners at ICBA, the SBA and a number of our fellow state community banking trade groups around the country. We will continue to keep you informed as more information becomes available. . .watch for our daily updates, and check our website for previous ones.
# # # # #
NOTE:
All IBANYS meetings through July 1, 2020 have been POSTPONED.
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I
dentifying Alternative Program & Revenue Opportunities
Over the coming days and weeks, IBANYS will be working to provide a look at some alternative revenue generating and educational opportunities for community banks. We will be sharing information soon on a
number of ideas and concepts we are currently discussing.
# # #
Meanwhile, f
or those of you who are seeking to fulfull their CPE credits, please note IBANYS offers an outstanding slate of webinars. Click here for the complete listing of topics and series including webinars on COVID-19.
https://financialedinc.com/a/ibanys/category/live.
Furthermore,
we also are considering providing the opportunity for New York Community banks' CEOs and senior management teams to participate
in online forums to share information, experiences and best practices during these times, and as we emerge from them. A number of other state trade groups have been utilizing the expertise of
KPN Consulting,
an organization we have used in our educational conferences throughout the years. KPN provides a platform to present educational programs and other forums to C- Suite level bankers. We'll keep you posted on these and a number of other possibilities that we are explorings.
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- State Senator Michael Gianaris has urged Governo Cuomo to issue an executive order suspending rent collection from New Yorkers "in dire straits due to the pandemic". The Governor has already suspended evictions for 90 days during the statewide stay-at-home order meant to stem the spread of the deadly COVID-19 disease, but advocates and tenants say more needs to be done "to prevent a flood of evictions" once the crisis resolves. Gianaris’ letter to Cuomo mirrors legislation he has introduced to allow “any residential tenant or small business commercial tenant in the state that has lost income or has been forced to close their place of business” to have their rent suspended for 90 days. Renters or businesses would not owe anything during the three-month freeze, even when it is over. The Governor to date stands by his decision to temporarily suspend evictions, has said that nothing more is needed at the moment and that the state will reassess the situation down the road.
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- Neither the U.S. Senate or House of Representatives plans to return to Washington, D.C. before May 4 at the earliest. Obviously, negotiations continue over such major proposals as additional funding for the PPP, and a future "Phase Four" package of emergency relief, economy recovery measures. To date, there does not appear to be any significant progress as Republicans and Democrats have different proposals and agendas.
- IBANYS has written to the New York congressional delegation urging at least $250 million in additional funding for PPP, and supporting a set of modifications to the program as called for by ICBA. Click here to read the ICBA letter to congressional leadership and key committee leadership, and to the New York congressional delegation, and click here to read IBANYS letter to the New York delegation.
- IBANYS continues to reach out to state and federal legislators during the ongoing crisis. This week we again have conference calls scheduled with Rep. Tom Reed (R-Western NY/Southern Tier), who serves on House Ways & Means and on the bipartisan "problem solvers" congressional coalition, and with House Financial Services Committee member (and chair of the Financial Services Subcommittee) Greg Meeks (D-Queens) and with NYS Senate Banks Committee Chairman James Sanders (D-Queens).
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ICBA Securities/Vining Sparks Webinar Tuesday, April 21
On Balance Sheet Management In The Current Markets
ICBA Securities/Vining Sparks is offering a bonus webinar for our 2020 Community Banking Matters webinar series
one week from today
. The event is offered: 1) To give suggestions for the severe disruption to the U.S. and global financial markets from Coronavirus, and 2) As a partial replacement to our Balance Sheet Academy, which we had to cancel." It's a two-hour seminar, and should qualify for 2 hours of CPE
.
Here's a synopsis, and how to register:
ICBA Securities and its exclusively-endorsed broker, Vining Sparks, will present a webinar on Balance Sheet Management in the Current Markets exclusively for the state associations that endorse ICBA Securities, as well as other community banks. This is the fourth in the 2020 webinar series.
Economic conditions deteriorated in the U.S. and globally with the likelihood of a recession increasing as a result of the COVID-19 outbreak. Depending on its duration, the coronavirus could significantly disrupt the operating environment for community banks and lower rates will almost certainly pressure banks’ net interest margins and profitability. We recognize that this crisis causes significant challenges for your community bank, but we also know that at times like this, calm and objective analysis is crucial.
During this webinar, we will discuss effective balance sheet and investment portfolio strategies that can be implemented during these challenging times. Speakers will include Dan Stimpson, CPA, Vining Sparks Investment Strategies Group, and Rick Redmond, CMA,
Vining Sparks Interest Rates Products Group.
What you will learn:
- An overview of current economic and market conditions
- Balance sheet, interest rate risk and profitability trends in the banking industry
- Why falling rates negatively impact earnings and value
- How to build and execute balance sheet strategies
- Current relative value opportunities available in the bond market
- Investment, funding and hedging strategies that improve current performance
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For a complete list of webinars click the button.
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IBANYS Preferred Partners & Associate Members
Additional COVID-19 Resources
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Working effectively from home is more than just making a cup of coffee and sitting down in front of the home computer.
Justin Muscolino, GRC Solutions’ Head of North American Compliance Training Operations has some advice:
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Pentegra announces COVID-19-related efforts to help clients
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COVID-19 Information Center
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Wolf’s COVID-19 Resource Center
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(Click the company logo to learn more about our partners)
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