DBA Digest for December 6, 2024

Fall Issue of Delaware Banker Now Available!

The latest issue of Delaware Banker is now available. Feature articles include:

• Delaware's New Beneficiary Well-Being Trust Law
• The SLAT After Divorce
• Protecting Elders from Financial Exploitation
• Make a Wish
• Special 2024 Delaware Trust Conference Section!

Read it on your computer, tablet, or smart phone.

Don't Miss These Upcoming OnCourse Learning Webinars!

Deposit Operations Year End Wrap-Up - December 10th

What are the new supervisory issues, FDIC insurance issues, exam hot spots, and everything that deposit compliance officers need to do their jobs in 2024 going into 2025. This program will be updated during the year.

Audience:This program is designed for deposit operations, deposit compliance, branch administration, bookkeeping, account services, and those who run the operations side of the institution.

2024 Call Report Recap and a Look Into 2025 - December 12th

This 90-minute webinar will include a discussion of regulatory and accounting changes proposed to impact 2025. As new regulatory matters arise, they will be added to the agenda in order to provide participants with the most current training applicable.

Audience: This program offers value to anyone involved in preparing, reviewing, or signing a Call Report, whether they’re newcomers or seasoned professionals. The updates and discussions on accounting and financial reporting issues ensure that all participants can enhance their knowledge and skills.

Learn more and browse all the webinars via the link below.

Bank of America Private Bank Market Minute

November marked the biggest monthly gain this year for the S&P 500 of 5.7%, while closing last Friday at its 53rd all-time high of the year. The index is on track for a second consecutive year of annual gains above 20%, a milestone last achieved in the late 1990s. The S&P 500 and Nasdaq Composite each gained 1.1% while the Dow Jones Industrial Average rose 1.4% over the holiday-shortened week. The Russell 2000 briefly hit a record high for the first time in three years last Monday, gaining nearly 10% since Election Day. The yield on the 10-year U.S. Treasury fell 23 basis points (bps) last week to 4.17% on Friday, the lowest level since mid-October and the biggest weekly move since early August. Despite the Thanksgiving holiday, last week brought ample U.S. economic news. In line with expectations, headline personal consumption expenditures (PCE) inflation rose 0.2% in October and 2.3% over the year, while its core counterpart was 0.3% hotter over the month and up 2.8% over the year–the highest year-over-year (YoY) reading since April. Q3 2024 real gross domestic product (GDP) expanded at an annual rate of 2.8% per the second estimate, featuring 3.5% growth in consumption. In the face of elevated mortgage rates, new home sales fell 17.3% to a seasonally adjusted annual rate of 610,000 in October, below expectations and the largest monthly decline since July 2013. Meeting minutes from the Federal Open Market Committee’s November meeting confirmed that, depending on employment and inflation data, rate cuts in the months ahead are likely to be more gradual than originally anticipated. This week, key data releases will include November’s jobs report and an update on manufacturing and services activity from the Institute for Supply Management (ISM).

New ABA Facilitated Online Courses Starting in January!

Join an online course with group collaboration, instructor feedback and guidance, and fixed start and end dates. Facilitated online courses provide an opportunity to meet your learning goals with the benefit of a classroom, but in an online environment.

Click on the links below for full course descriptions and details.

The Banking Industry - January 6, 2025 – January 31, 2025

Marketing in Banking - January 6, 2025 – January 31, 2025

Building a Bank-Wide Data Management Program - January 13, 2025 – February 7, 2025

Introduction to Agricultural Lending - January 13, 2025 – March 7, 2025

Analyzing Bank Performance - January 21, 2025 – March 7, 2025

Managing Funding, Liquidity and Capital - January 21, 2025 – February 21, 2025

Building Customer Relationships - January 27, 2025 – February 21, 2025

Delaware Paid Leave Is Coming. It's time to get your business ready!

The Healthy Delaware Families Act, signed into law on May 10, 2022, provides covered individuals with wage replacement and job protection during leave for qualifying family and medical reasons. The Delaware Paid Leave program is funded by less than 1% of an employee’s weekly wages. When approved for leave, employees will receive 80% of their average weekly wages, including base salary, commissions, tips, and bonuses.

Participation in Delaware Paid Leave is mandatory for employers with 10 or more employees in the state of Delaware, and the program is offered to workers who have been employed at the company for at least one year and have worked at least 1,250 hours in the past year.