Federal Reserve Bank of Philadelphia

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The Federal Reserve Bank of Philadelphia is inviting students in their junior or senior year to join the Career Forward webinar series. The webinar series will focus on topics to engage students and will provide them with tools to help plan their next steps after college. Registration is open for these virtual webinars: • How to Get Your Foot in the Door, December 3, 2024 • Money Matters, January 21, 2025 • Choosing Your First Job, February 18, 2025 Learn more and save your spot. https://bit.ly/4eHGvpG

The business of banking is inherently risky, and supervisors are responsible for assessing whether a bank is operating in a safe and sound manner. Supervisory findings or enforcement actions may be necessary if examiners uncover unsafe and unsound practices, violations of laws or regulations, deficient risk management practices, or deteriorating financial conditions. A bank’s senior management and board of directors should have a plan to successfully address a supervisory finding or an enforcement action, which includes having the appropriate people in place to implement corrective action, and maintain ongoing communications with supervisors about the bank’s progress for completing corrective action. This article provides an overview of the supervisory tools that examiners use to convey their supervisory messages to a bank’s board of directors and senior management. It also shares some common themes and trends driving supervisory findings and discusses practices that banks may wish to consider when responding to Federal Reserve supervisory staff. Read the article here: https://bit.ly/3BAssns

Build a path to higher-paying jobs in your local market with the Occupational Mobility Explorer. Choose a job title and location and see jobs with higher pay that share similar skills and see what skills you may need to develop to grow your career. Compare skills, median pay, education requirements, projected growth rates, and more in this newly updated tool from the Federal Reserve Banks of Cleveland and Philadelphia. https://bit.ly/47EBgVi #economicmobility #jobmobility #occupationalmobility #careerpaths

Registration for this year's High School Fed Challenge is now open!

The share of delinquent credit card balances decreased in Q2 2024 after reaching 12-year highs in Q1 2024 and Q4 2023, according to the Philadelphia Fed’s Large Bank Credit Card and Mortgage Data. The quarterly series, which began in 2012, reports data from the largest financial institutions in the U.S. Data from April through June 2024 show: • The share of past due credit cards fell. The shares of credit card balances that were 30, 60, and 90 or more days past due each dropped by a little less than a quarter percentage point. These were the largest quarterly decreases in three years. However, it is too early to call this a turning point for credit performance, as credit card delinquency frequently improves in the second quarter and deteriorates in the third quarter. • The median origination credit score for new card customers hit an 11-year high. That has slowed industry growth, with card originations contracting on a year-over-year basis. • Mortgage credit performance remains strong. Just 0.4 percent of mortgage balances were 90 or more days past due, a series low since 2012. Read the full report and explore the data with our interactive dashboard. https://bit.ly/3NpAAd7

It may look like the explosive growth of nonbank financial institutions has come at the expense of banks, but Banking Structure Specialist Jim DiSalvo reveals the symbiotic relationship between the two. Read more in Economic Insights. https://bit.ly/3BlBsga

For #DigitalInclusionWeek, the Federal Reserve Banks of Atlanta, Dallas, Kansas City, New York, and Philadelphia invite digital inclusion practitioners to the Digital Inclusion Research Webinar Series, October 8 -10, 2024. Attendees will gain insight into the latest digital inclusion research, emerging methodologies, and best practices in the sector. Register for one or more of the sessions here https://bit.ly/3TqeURJ

The Philadelphia Fed is hosting a virtual public engagement forum on October 8. Join us to share your input, questions, and feedback about the search for our next president and CEO. Advance registration is required. Register today to save your spot. https://bit.ly/3MXYWdO

Recorded presentations from our Fifth Workshop on Credit Card Lending, Consumer Finance, and the AI Revolution are now available. View presentations on important topics such as: • consumer finance with a focus on credit card lending, financial innovations, open banking, payment networks, fintech competition, data privacy; and • the current and future implications of innovations and adoption of machine learning and artificial intelligence (ML/AI) in consumer finance.