“cory was a pleasure to deal with often in high pressure situations.shes the type of person that can make the task at easier.very professional and very smart.”
Cory Stefansson
Great Falls, Virginia, United States
3K followers
500+ connections
About
I am a bank regulatory and supervisory expert with considerable industry and Federal…
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My latest article in American Banker explains how it was uninsured deposits, not brokered deposits, that led to 2023's bank failures. From the…
My latest article in American Banker explains how it was uninsured deposits, not brokered deposits, that led to 2023's bank failures. From the…
Liked by Cory Stefansson
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We continue to gain momentum! What a strong quarter! 🚀 #helpeveryonehome
We continue to gain momentum! What a strong quarter! 🚀 #helpeveryonehome
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The Federal Reserve Bank of St. Louis has named François Henriquez, who is currently executive vice president, general counsel, corporate secretary…
The Federal Reserve Bank of St. Louis has named François Henriquez, who is currently executive vice president, general counsel, corporate secretary…
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Experience
Education
Volunteer Experience
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Board Member
GEORGIA AVENUE FAMILY SUPPORT COLLABORATIVE
- Present 8 years 6 months
Economic Empowerment
Publications
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Foreign banks: US admission price rising
PwC
More than five months since the Federal Reserve (Fed) issued its final Enhanced Prudential Standards (EPS) for foreign banking organizations, a considerable number of critical questions remain unanswered despite guidance from regulators. The June 26th publication of frequently asked questions (FAQs) primarily repeated or reinforced the EPS rule’s text; however, some additional clarity on key issues such as the level of detail needed for FBOs’ required implementation plans was…
More than five months since the Federal Reserve (Fed) issued its final Enhanced Prudential Standards (EPS) for foreign banking organizations, a considerable number of critical questions remain unanswered despite guidance from regulators. The June 26th publication of frequently asked questions (FAQs) primarily repeated or reinforced the EPS rule’s text; however, some additional clarity on key issues such as the level of detail needed for FBOs’ required implementation plans was provided.
We believe the key takeaway is that details matter – both in what has been explained by the Fed and what has yet to be clarified. The Fed expects a cogent and comprehensive discussion of EPS implementation by foreign banking organizations (FBOs) that includes a detailed assessment and a roadmap for how firms will comply with all aspects of the EPS (including structural, capital, liquidity, and risk management requirements). The implementation plan will need to reflect FBOs’ planned and underway efforts to develop and implement more robust management information systems (MIS) that support risk and finance data aggregation, regulatory reporting, and stress testing.
On the other hand, there are still a number of specifics that the Fed has yet to clarify and communicate, particularly regarding the implementation of the intermediate holding company (IHC) and transfer of subsidiaries to meet the July 1, 2016 effective date, and how the creation of the IHC may impact the bank holding company’s stress testing obligations.
This Regulatory Brief analyzes the FAQs, incorporating approaches taken by FBOs across the industry, and suggests actions that firms should be taking now.Other authorsSee publication
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Another weather delay and equipment cancellation had me ready to quit #AmericanAirlines for the night and try #Delta to get home. But #AA’s Rosa…
Another weather delay and equipment cancellation had me ready to quit #AmericanAirlines for the night and try #Delta to get home. But #AA’s Rosa…
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Sharing two great opportunities to come and work at Zelis on an amazing team charged with preventing fraud and mitigating risk! Analytics Manager…
Sharing two great opportunities to come and work at Zelis on an amazing team charged with preventing fraud and mitigating risk! Analytics Manager…
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Santander achieved record results in H1 2024, demonstrating the momentum that Group is building through our global operating model and transformation…
Santander achieved record results in H1 2024, demonstrating the momentum that Group is building through our global operating model and transformation…
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I am deeply honored to have been selected as a recipient of the SEC Chair's Award for Excellence due to our work on the U.S. Treasury market reforms.…
I am deeply honored to have been selected as a recipient of the SEC Chair's Award for Excellence due to our work on the U.S. Treasury market reforms.…
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