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US Comptroller Warns Banks of Risks From Subpar Underwriting Standards

first_img December 16, 2015 580 Views in Daily Dose, Government, Headlines, News, Origination Careless underwriting standards is causing an influx of credit risk in bank lending portfolios, which could be a huge mistake for these lenders over the long-term.The Office of the Comptroller of the Currency (OCC), supervisor of the national banks and federal saving institutions, released its semi-annual Risk Perspective report on Wednesday, pointing out the growing risks among banks.In a clear warning, Thomas J. Curry, Comptroller of the Currency said, “In the area of credit risk, the warning lights are flashing yellow. Regulators and bank management need to act now to prevent those risks from becoming reality. We can’t afford to wait until the warning lights turn red.”The Comptroller emphasized in his prepared remarks for a conference call about the report  that jeopardizing “sound underwriting” by offering loans to just about anyone is not the route banks should take to grow their business.”As the economic cycle turns, we see banks and thrifts reaching for yield and growth, sometimes extending their reach at the expense of sound underwriting, strong risk management, and adequate loan loss provisioning. OCC examiners will be paying close attention to each of those areas in the coming months,” Curry stated.He also suggests that banks should compete responsibly in terms of their boosting their business as the pool of creditworthy borrowers shrinks and other investments remain limited in the low-interest rate environment.In order to fight these adverse conditions, the OCC points out that banks in their entire portfolio have “relaxed underwriting standards, layered risks in consumer and commercial lending products, and accumulated concentrations, particularly in commercial real estate,” therefore growing risk.Underwriting standards have fallen for the third consecutive year, according to the OCC.”Generally, we are seeing banks continue to make concessions on pricing, weaker or non-existent loan covenants, and maturities lengthening. We have also seen increases in underwriting exceptions and risk layering. All of which combine to introduce risk at origination. Bankers with long memories will remember the worst loans are made in the best of times, and the growing credit risk in their banks should be managed very closely,” Curry noted.The Comptroller also mentioned that they expect banks to assess their own interest rate risk exposure, particularly among the potential-slowing of large deposit growth.”Where depositors sought shelter from the storm, they may also seek to take advantage of rising rates. Banks should consider the long-term implications to earnings and capital in strategic planning when assessing their exposure to changes in interest rates,” he stated.Nondepository lending has also rose more than 217 percent over the last three years to a total growth amount of $53.8 billion over the last year. The OCC says “risk from these loans can be highly correlated to the banks’ risk and lead to concentrations.””Banks and thrifts can remain relevant and thrive in meeting the needs of the customers, communities, and businesses that depend upon them, but they must manage change carefully,” the OCC said.Click here to view the complete report.Click here to view Comptroller of the Currency Thomas J. Curry’s Remarks. Sharecenter_img U.S. Comptroller Warns Banks of Risks From Sub-par Underwriting Standards Banks Credit Risk Office of the Comptroller of the Currency Underwriting Standards 2015-12-16 Staff Writerlast_img read more

Cardinals expect improving Murphy to contribute ri

first_img Cardinals expect improving Murphy to contribute right away Comments   Share   Nevada officials reach out to D-backs on potential relocation It’s not just the fans and media who are going crazy with rumors and hypotheticals. Kolb told the reporters who gathered that the unknown bothers him as well.“There’s a list of questions, and nobody knows the answers,” Kolb said. “A lotta unknowns.”While it still doesn’t provide any answers to the question of who will be the Cards starting quarterback when the season actually begins, it’s nice to finally hear from someone actually involved. Kolb’s quotes show he’s a guy who possesses a lot of personality as well as sensibility. Much like the rest of us he just wants an answer, sooner rather than later. “‘It’s pretty tough, but y’all have known me for a long time, and the way that I handle things is that I kind of keep things out of my life. I don’t pay too much attention to it. It’s hard, when it has to do with my life, but I keep a positive attitude and keep moving forward, and whatever happens, I’ll be ready to roll,” Kolb said afterwardsEven though all signs point to Andy Reid and the Eagles trading their backup quarterback, Kolb accepts the fact that, due to the lockout, a deal may not happen.“If the situation (of staying with the Eagles) can’t be avoided, I’m not going to sit there and be a turd,” Kolb said. “That’s not my style. I think that I’ve voiced my opinion, and there’s nothing more I can do. Just like always, whatever situation arises, I’ll just have to roll with the punches … To say that it didn’t cross my mind, I’d be lying.”If the Cardinals do in fact deal for Kolb, it’s good to know that being a ‘turd’ isn’t his style. After watching the production the team got from the position in 2010 you’d have to imagine that is one of Ken Whisenhunt’s prerequisites for whoever they bring in. Everyone has provided an opinion when it comes to the Arizona Cardinals and Kevin Kolb. Well, almost everyone.On Thursday the most important factor in those rumors, Kolb himself, spoke to the media for the first time since he and the Eagles were eliminated from the playoffs. He was back on the east coast to take part in informal workouts with some of his teammates.The Philadelphia Daily News was there and talked to the 27-year-old quarterback about his future and how he’s dealing with his rumored relocation. D-backs president Derrick Hall: Franchise ‘still focused on Arizona’ Top Stories What an MLB source said about the D-backs’ trade haul for Greinkelast_img read more