Bank
Regulatory News
April 1998
April 29, 1998 - Acting
Comptroller Williams Addresses Bank Merger Issues in House Testimony
WASHINGTON, D.C. -- The Office of the Comptroller of the Currency has undertaken a number
of initiatives that will enable it to supervise large institutions such as those that
would be created in a series of recently-announced mergers, acting Comptroller Julie L.
Williams told a House committee Wednesday.
April 29, 1998 - FDIC
PUBLISHES SEMIANNUAL AGENDA OF REGULATIONS
The Federal Deposit Insurance Corporation has published its semiannual agenda of
regulations in
the Federal Register to inform the public of the Corporation's regulatory actions and
encourage
participation in the rulemaking process.
April 28, 1998 -
INVESTMENT ACTIVITIES - FDIC Adopts New Standards for Investment Securities and End-User
Derivatives Activities
The Federal Deposit Insurance Corporation (FDIC), in conjunction with other members of the
Federal Financial Institutions Examination Council (FFIEC), has adopted a new
"Supervisory Policy Statement on Investment Securities and End-User Derivatives
Activities" (1998 Statement). The1998 Statement provides guidance on sound practices
for managing the risks of investment activities, with a particular emphasis on market risk
(primarily interest rate risk).
April 28, 1998 - FDIC
MAKES PUBLIC MARCH 1998 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 28, 1998- Acting
Comptroller Williams Addresses Issues Raised in Recent Merger Proposals
WASHINGTON, D.C. -- The Office of the Comptroller of the Currency has already begun taking
steps to deal with issues raised by the large mergers that have been proposed in recent
weeks, acting Comptroller Julie L. Williams said today.
April 28, 1998 - FDIC
SIMPLIFIES DEPOSIT INSURANCE RULES
The FDIC Board of Directors today adopted changes that will make it easier to understand
the
agency's deposit insurance rules. The changes will benefit consumers and bankers.
FDIC April 23, 1998 -
FORMER FDIC EMPLOYEE SENTENCED FOR EMBEZZLING AND LAUNDERING AGENCY FUNDS
Federal Deposit Insurance Corporation (FDIC) Inspector General Gaston L. Gianni, Jr.,
announced today that former FDIC employee Douglas Peklo of Woodbury, CT, was sentenced
in U.S. District Court to five years in prison for accepting $97,000 in bribes and
embezzling and
laundering $138,500 in FDIC funds while with the agency.
April 27, 1998 - OCC ANNOUNCES
17 NEW ENFORCEMENT ACTIONS
AND THREE TERMINATIONS
WASHINGTON, DC --The Office of the Comptroller of the Currency today announced 20
enforcement actions taken against national banks.
April 23, 1998 -
COMMUNITY REINVESTMENT ACT - HUD's 1998 Adjusted Median Family Income Figures
At the request of financial institutions, the Federal Deposit Insurance Corporation (FDIC)
is
providing the attached list of 1998 median family income figures developed by the
Department of
Housing and Urban Development (HUD) for each metropolitan statistical area (MSA) and the
statewide portions of nonmetropolitan areas.
April 14, 1998 -
TRUTH IN LENDING ACT - Revised Federal Reserve Board Staff Commentary on the Truth in
Lending Act
The Board of Governors of the Federal Reserve System (FRB) has approved the attached
revisions and updates to the staff commentary for Regulation Z, which implements the Truth
in Lending Act. The staff commentary applies and interprets the requirements of Regulation
Z.
FDIC - April 9, 1998 -
FDIC APPROVES THE ASSUMPTION OF ALL THE DEPOSITS OF OMNIBANK, RIVER ROUGE, MICHIGAN
The Board of Directors of the Federal Deposit Insurance Corporation has approved the
assumption of all the deposits of Omnibank, River Rouge, Michigan, by ShoreBank, Detroit,
Detroit, Michigan, a newly chartered bank subsidiary of Shorebank Detroit Corporation.
Omnibank was closed today by the Michigan Commissioner of the Financial Institutions
Bureau,
and the FDIC was named receiver.
FDIC April 10, 1998
- YEAR 2000 TESTING GUIDANCE - Interagency Guidance on Testing for Year 2000 Readiness
The Federal Financial Institutions Examination Council (FFIEC) has issued the attached
guidance for the industry on Year 2000 readiness testing. The statement supplements the
FFIEC's statement "Year 2000 Project Management Awareness," issued May 5, 1997.
FDIC April 9, 1998
- ON-BALANCE SHEET NETTING PROPOSAL
The Basle Committee on Banking Supervision has issued the attached proposal that
establishes
principles for the capital treatment of on-balance sheet netting transactions. The
proposal differs
from current U.S. Generally Accepted Accounting Principles (GAAP). However, institutions
should continue to follow the GAAP standards for regulatory reporting until notified
otherwise.
OCC - April 9, 1998 - OCC
Highlights Two Basle Committee Actions
The Office of the Comptroller of the Currency (OCC) advised national banks of two Basle
Committee actions which might have an effect on their future risk-based capital
calculations.
OCC - April 6, 1998 - Julie L.
Williams Becomes Acting Comptroller of the Currency
WASHINGTON, D.C.-- Julie L. Williams became acting Comptroller of the Currency on April 5,
succeeding Eugene A. Ludwig who completed a five-year term of office Saturday.
FDIC April 3, 1998 -
FDIC MAKES PUBLIC FEBRUARY 1998 ENFORCEMENT ACTIONS;ONE ADMINISTRATIVE HEARING SCHEDULED
FOR APRIL
The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of
administrative enforcement actions taken against banks and individuals in February.
(PR-22-98
issued April 2, 1998, incorrectly identified removal and prohibition orders as
terminations of
insurance.) One administrative hearing is scheduled for April.
OCC - April 1, 1998 - OCC
Releases Final Rule Clarifying Lending Limits
WASHINGTON, DC --The Office of the Comptroller of the Currency (OCC) published in today's
Federal Register a final rule governing lending limits.
FRB -
April 1, 1998 - The Federal Reserve Board today amended some model forms in its
Regulation B, Equal Credit Opportunity, to reflect changes to disclosures required by
recent amendments to the Fair Credit Reporting Act. Statutory changes require that
additional disclosures be given to a consumer who is denied credit based on information
from an affiliate or from a consumer reporting agency. The new model forms go into effect
on April 30.
OCC - April 1, 1998 - OCC
Assesses $438,000 in Money Penalties Against Argentine Group
That Illegally Tried to Control Maryland Bank
WASHINGTON, D.C. -- The Office of the Comptroller of the Currency (OCC) today
announced payment of a civil money penalty of $261,000 from Horacio Bernardo Rozenblum of
Miami, Florida and Buenos Aires, Argentina. An additional civil money penalty of $177,000
was assessed against an associate of Rozenblum, Salem Eduardo Nazar of Mendoza, Argentina.
The penalties were assessed in connection with consent orders agreed to by Rozenblum,
Nazar, and the OCC.
FRB Dallas
Listing of Bank and Bank Holding Company Application Bulletins
Federal Reserve Board Public
Information Actions, Orders, and Other Documents, all FRB districts
FRB
Operating Circulars, maintained by the FRB of Chicago
Back to the previous page |
