|
|
|
In-sites
An Information Resource Center
|
|
|
| |
| |
|
SBA Arkansas Lender Meet-Ups Scheduled for March 2020
|
5 Locations & Dates around the state to Cover Changes Coming in SBA Lending SOP
Join the Arkansas District Office SBA Team for our Arkansas Lender Meet Ups to be held around the state in March. We will share the latest "happenings" in SBA lending as well as resources available to help you and your small business customers.
Topics will include:
- New SOP 50 10 6 - What to Expect Effective April 1, 2020
- New SBA Form 912 and FBI Background Check Processing Procedures
- New IRS Transcript Processing Requirements and IVES
- Q & A's from our lenders, resource partners.... And much more!
Make plans to spend three hours with our ARDO SBA staff, resource partners, and other commercial lenders to stay on top of small business lending opportunities that will help your bank grow your commercial loan portfolio and prepare for changes.
These meetings are especially important for all lenders to know about the changes to the SOP 50 10 6 that will go into effect April 1, 2020, so make plans to attend. 5 convenient locations and dates around the state.
- Central Arkansas Lender Meet-Up Thursday, March 5th 9:00 am - noon at the Arkansas District Office Conference Room, in Little Rock - Register Here
- West and Northwest Arkansas Lender Meet-Up Wednesday, March 11th 9:30 am - 12:30 am at Startup Junkie in Springdale - Register Here
- Southwest Arkansas Lender Meet-Up Wednesday, March 18th, 9:30 am - 12:30 pm at the El Dorado Chamber of Commerce - Register Here
- Northeast Arkansas Lender Meet-Up, Tuesday, March 24th 9:30 am - 12:30 pm at the ASU Delta Center in Jonesboro Register Here
- Hot Springs and West Arkansas Lender Meet Up Wednesday, March 25th, 9:30 am - 12:30 pm at the Greater Hot Springs Chamber of Commerce - Register Here
For more information or to register by phone contact Herb Lawrence (501) 324-7379 - Ext. 297 or Rick Duda - Ext. 239.
|
| |
|
LIBOR Alternative Launch
|
The Federal Reserve Bank of New York said that on March 2 it will begin to publish Secured Overnight Financing Rate averages and a SOFR index to support the transition away from the London Interbank Offered Rate, or LIBOR.
SOFR is the alternative to LIBOR recommended by the Alternative Reference Rates Committee, which is implementing the transition. ICBA serves on the ARRC and encourages community banks to begin preparing for the transition from LIBOR.
|
| |
|
Separate CRA Plans Would Work
|
Federal Reserve Chairman Jerome Powell told the Senate Banking
 Committee that diverging regulatory paths on Community Reinvestment Act reform wouldn't harm Fed-regulated banks.
Powell noted that the OCC-FDIC reform proposal would allow certain community banks to continue using the current system, so Fed-regulated banks would be in a similar position if it doesn't join with those agencies on a final rule.
The OCC-FDIC plan includes a provision that would allow community banks with $500 million or less in assets to opt into the revised framework. The Fed could still join in on an interagency final rule.
Powell told the House Financial Services Committee that the Fed hasn't yet adopted a CRA plan and that he is comfortable with Fed Governor Lael Brainard's approach. Brainard last month laid out the Fed's efforts to develop new CRA metrics and tests.
|
| |
|
2020 HMDA Guide
|
The Federal Financial Institutions Examination Council issued its
 2020 Home Mortgage Disclosure Act reporting guide.
The resource includes technical updates and is designed to help financial institutions better understand HMDA requirements, including data collection and reporting.
|
| |
Farmland Values Strengthen
|
Strength in farm real estate markets provided support to the  agricultural sector amid ongoing financial challenges, according to the Kansas City Fed's fourth-quarter survey of credit conditions.
Non-irrigated cropland values and cash rents increased slightly, while credit conditions deteriorated at the slowest pace in more than four years.
|
For the Regulation CC availability threshold adjustments, effective July 1, 2020, does the bank need to send a change in terms?
The final rule which addresses the threshold adjustments effective July 1, 2020 states that the bank does need to send the change in terms (aka fund availability policy). However, the bank may make arrangements for electronic delivery or providing the change in terms in the monthly statement. The final rule also states: In addition, a bank need not set forth the entirety of its revised funds-availability policy in its change-in-terms notice. If a bank chooses to provide the notice by sending a completely new availability disclosure, the bank must direct the customer to the changed terms in the disclosure by use of a letter or insert, or by highlighting the changed terms in the disclosure.
 A change to the bank's availability policy requires notice 30 days before the change regarding accounts; or 30 days after implementation if the change expedites funds availability.
Reference: Regulation CC: 12 CFR 229 final rule. Federal Register, July 3, 2019, page 31694.
|
|
|
Compliance Conference - September 9 & 10, 2020
Management & Directors Conference - November 10, 2020
** Watch For Details **
|
|
|
