R. Kinney Williams - Yennik, Inc.
R. Kinney Williams
Yennik, Inc.

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Bank Regulatory News
April 1999

April 30, 1999 - SUMMARY OF DEPOSITS SURVEY - Summary of Deposits Survey for June 30, 1999
The annual Summary of Deposits (SOD) survey and instructions for the period ending June 30,
1999, will be mailed on July 9 to institutions with more than a main office facility. While minor
changes have been made to the instructions for clarification, no changes have been made to the
survey.

April 29, 1999 - FDIC MAKES PUBLIC MARCH 1999 ENFORCEMENT ACTIONS;
NO ADMINISTRATIVE HEARINGS SCHEDULED FOR MAY

The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of
administrative enforcement actions taken against banks and individuals in March. No
administrative hearings are scheduled for May.

April 23, 1999 - FDIC APPROVES THE ASSUMPTION OF ALL THE DEPOSITS OF
ZIA NEW MEXICO BANK, TUCUMCARI, NEW MEXICO

The Federal Deposit Insurance Corporation (FDIC) has approved the assumption of all the
deposits of Zia New Mexico Bank, Tucumcari, New Mexico, by the First National Bank of
New Mexico, Clayton, New Mexico.

April 22, 1999 - The Federal Reserve Board today announced the execution of a Written Agreement by and among Foxdale Bancorp, Inc., the Foxdale Bank, both of South Elgin, Illinois, the Federal Reserve Bank of Chicago, and the Illinois Office of Banks and Real Estate.

April 22, 1999 - OCC ANNOUNCES FOUR NEW ENFORCEMENT ACTIONS, AND TWO TERMINATIONS OF EXISTING ACTIONS
WASHINGTON, DC --The Office of the Comptroller of the Currency (OCC) today announced four new enforcement actions taken against national banks, and two terminations of existing actions. The actions released today include one formal agreement, two cease and desist orders, one civil money penalty, and two terminations of existing orders.

April 21, 1999 - YEAR 2000 READINESS ASSESSMENTS - Year 2000 Readiness Assessment Strategy for FDIC-Supervised Financial Institutions
The Federal Deposit Insurance Corporation (FDIC), with assistance from the state banking
authorities, completed its second round of on-site Year 2000 readiness assessments of
FDIC-supervised financial institutions by March 31, 1999.

April 19, 1999 - Comptroller Warns that Pending Financial Modernization Legislation Could "Do Violence" to Dual Banking System
WASHINGTON -- Comptroller of the Currency John D. Hawke, Jr. said today that the dual banking system that has served the United States well could be jeopardized by pending financial modernization legislation.

April 19, 1999 - OCC - Risk Based Capital, Specific Risk
The attached final rule on specific risk was published in the Federal Register on April 19, 1999, and applies to banks with significant trading activity subject to the market risk-based capital regulation (appendix B of 12 CFR 3.)  The rule was issued jointly by the OCC, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation; it adopts without change the interim rule that became effective on December 31, 1997.

April 19, 1999 - OCC - Truth in Lending
The Federal Reserve Board has revised the official staff commentary to Regulation Z (Truth in Lending) that interprets the requirements of the regulation. The update:

April 19, 1999 - OCC - Joint Ownership Accounts and Revocable Trust (payable-on-death) Accounts
The Federal Deposit Insurance Corporation has revised its regulations governing the insurance coverage of joint ownership accounts and revocable trust (payable-on-death) accounts. The purpose of the revisions, which were proposed in July 1998, is to increase the public's understanding of the insurance rules through simplification.

April 16, 1999 - The Federal Reserve Board today announced the issuance of a Combined Order to Cease and Desist and Order of Assessment of a Civil Money Penalty against Paul P. Piper, Jr., a former institution-affiliated party of First National Summit Bankshares, Crested Butte, Colorado, a former registered bank holding company, and the First National Summit Bank, Gunnison, Colorado, a former national bank.

April 15, 1999 - FEDERAL FINANCIAL INSTITUTION REGULATORS DEVELOP Y2K CHECKLIST FOR CONSUMERS
Washington, DC, April 15, 1999 – Federal financial institution regulators believe that banks,
credit unions and payment systems are making good progress in their preparations for the Year
2000. The regulators also believe that customer awareness is an important component of these
preparations. To help consumers prepare for the century date change, the regulators announced
today the availability of a Y2K checklist for customers.

April 15, 1999 - OCC RELEASES CRA EVALUATIONS FOR 75 NATIONAL BANKS
WASHINGTON, DC -- The Office of the Comptroller of the Currency (OCC) today released a list of Community Reinvestment Act (CRA) performance evaluations that became public during the period of March 15 through April 14. The list contains only national banks and insured federal branches of foreign banks that have received ratings. The possible ratings are outstanding, satisfactory, needs to improve, and substantial noncompliance.

April 15, 1999 - Comptroller Urges Regulators, Financial Institutions To Improve Communication with Consumers on Year-2000 Issues
WASHINGTON -- Comptroller of the Currency John D. Hawke Jr. said today that he expected the banking industry would meet the Y2K challenge "with flying colors." He stressed, however, that more must be done to inform customers about the progress that has been made.

April 15, 1999 - BANK SECRECY ACT COMPLIANCE - FinCEN Advisory
Attached is a copy of the Department of the Treasury's April 1999 issue of FinCEN Advisory,
published by the department's Financial Crimes Enforcement Network (FinCEN).

April 13, 1999 - Comptroller Addresses Y2K Issues in Congressional Testimony
WASHINGTON -- Comptroller of the Currency John D. Hawke, Jr. told a House committee today that the vast majority of national banks are making good progress in their efforts to make computer systems Year-2000 compliant.

April 13, 1999 - Consumer Leasing, Revision of Official Staff Commentary
The Federal Reserve Board has revised the official staff commentary to Regulation M (Consumer Leasing). The commentary applies and interprets the regulation. The update provides guidance on disclosures for lease renegotiations and extensions, official fees and taxes, multiple-item leases, and advertisements.  The revision was effective March 31, 1999, but compliance is optional
until March 31, 2000.

April 13, 1999 - CONSUMER LEASING ACT AND TRUTH IN LENDING ACT - Federal Reserve Board Updates Commentaries for Regulations M and Z
The Board of Governors of the Federal Reserve System (FRB) has adopted the attached
revisions to its official staff commentaries on Regulations M and Z. These regulations implement
the Consumer Leasing Act and the Truth in Lending Act. The revisions took effect March 31,
1999; however, compliance with the revisions is optional until March 31, 2000.

April 8, 1999 - WITHDRAWAL OF PROPOSED "KNOW YOUR CUSTOMER" RULE - FDIC Board Withdraws Proposed "Know Your Customer" Rule
The Federal Deposit Insurance Corporation (FDIC) Board of Directors has withdrawn the
proposed "Know Your Customer" rule published for public comment on December 7, 1998.

April 5, 1999 - OCC Addresses Subprime Lending Risk Issues
WASHINGTON-- The Office of the Comptroller of the Currency today issued guidance on subprime lending to assist banks that engage in this new activity and to ensure that they understand the risks involved and have appropriate controls in place.

April 5, 1999 - OTS Releases March National CRA Ratings
WASHINGTON, D.C., April 5, 1999-- The Office of Thrift Supervision (OTS) today released
savings associations' Community Reinvestment Act (CRA) performance evaluation ratings
that became available in March 1999.

April 2, 1999 - FDIC ISSUES MARCH LIST OF BANKS EXAMINED FOR CRA COMPLIANCE
The FDIC today issued its monthly list of state nonmember banks recently evaluated for
compliance with the Community Reinvestment Act (CRA). The list covers evaluation ratings that
became available in March 1999.

April 1, 1999 - DEPOSIT INSURANCE REGULATIONS - Amended Deposit Insurance Regulations on Joint Accounts and Payable-on-Death Accounts
The Federal Deposit Insurance Corporation (FDIC) announced in FIL-27-99, dated March 23,
1999, that its Board of Directors had revised the deposit insurance regulations governing two
common types of accounts: joint accounts and "payable-on-death" ("POD" or revocable trust)
accounts. The FIL also noted that the FDIC would send each insured institution a copy of the
final rule upon its publication in the Federal Register. Attached is a copy of the Federal
Register notice.


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