Bank
Regulatory News
April 2005
With more than 40 years auditing only
financial institutions, my experience to test your Internet
and internal IT operations for
vulnerabilities and understand your IT operation is unmatched.
Please visit
http://www.internetbankingaudits.com/ for more detailed information.
April 29, 2005 - NCUA - Testimony of Chairman Johnson submitted to a
House Appropriations Subcommittee on NCUA's Request for FY 2006 Community
Development Revolving Loan Fund and CLF.
www.ncua.gov/news/speeches/2005/Johnson/FY2006BudgetRequest.pdf
April 29, 2005 - Statement of NCUA Chairman JoAnn Johnson Regarding The
President's Intention To Nominate Rodney E. Hood To NCUA Board.
www.ncua.gov/news/press_releases/2005/ST05-0429.htm
April 29, 2005 - NCUA to Host Access Across America Economic Empowerment
Summit in Los Angeles, California June 28.
www.ncua.gov/news/press_releases/2005/NR05-0429.htm
April 29, 2005 - FRB Statistical Release - E.15 Agricultural Finance
Databook.
www.federalreserve.gov/releases/e15/default_2005.htm
April 29 2005 - Temporary Partial Expensing in a General-Equilibrium Model -
Rochelle M. Edge and Jeremy B. Rudd 2005-19 - This paper uses a dynamic
general-equilibrium model with a nominal tax system to consider the effects
of temporary partial expensing allowances on investment and other
macroeconomic aggregates.
www.federalreserve.gov/pubs/feds/2005/200519/200519abs.html
April 29, 2005 - Legal Interpretation - Letter to Stanley F. Farrar,
indicating that a package of services that Zions Bancorporation proposes to
provide to customers would be within the scope of permissible data
processing and data transmission activities under section 225.28(b)(14) of
Regulation Y.
www.federalreserve.gov/boarddocs/legalint/BHC_ChangeInControl/2001/20010605/default.htm
April 29, 2005 - FRB reports to the Congress Board's Annual Report: Budget
Review, 1995.
www.federalreserve.gov/boarddocs/rptcongress/#arbr
April 29, 2005 - Banking Agencies To Perform Additional Analysis Before
Issuing Notice of Proposed Rulemaking Related To Basel II - The four federal
banking agencies today agreed that additional analysis is needed before
publishing a notice of proposed rulemaking with respect to the U.S.
implementation of the "International Convergence of Capital Measurement and
Capital Standards: A Revised Framework," generally known as the Basel II
Framework. Press Release:
www.federalreserve.gov/boarddocs/press/bcreg/2005/20050429/default.htm
Press Release:
www.occ.treas.gov/scripts/newsrelease.aspx?JNR=1&Doc=KLDCDKRC.xml
Press Release:
www.ots.treas.gov/docs/7/77516.html
April 29, 2005 - The Federal Reserve Board on Friday announced the execution
of a Written Agreement by and among Banco Industrial de Venezuela, C.A.,
Caracas, Venezuela; Banco Industrial de Venezuela, C.A. New York Agency, New
York, N.Y.; Banco Industrial de Venezuela, C.A. Miami Agency, Miami, Fla.;
the New York State Banking Department, New York, N.Y.; the State of Florida
Office of Financial Regulation, Tallahassee, Fla.; the Federal Reserve Bank
of New York and the Federal Reserve Bank of Atlanta.
www.federalreserve.gov/boarddocs/press/Enforcement/2005/20050429/default.htm
April 29, 2005 - Richard M. Riccobono to Serve as OTS Acting Director -
James E. Gilleran, Director of the Office of Thrift Supervision, announced
that Richard M. Riccobono, the OTS Deputy Director, will serve as OTS Acting
Director upon Director Gilleran's departure from OTS.
http://www.ots.treas.gov/docs/7/77515.html
_________________
April 28, 2005 - Frequently Asked Questions Relating to Customer
Identification Program Rules - To assist the public, the banking industry
and examiners, the staffs of the Board of Governors of the Federal Reserve
System, Federal Deposit Insurance Corporation, Office of the Comptroller of
the Currency, Office of Thrift Supervision, National Credit Union
Administration, and the U.S. Department of the Treasury's Financial Crime
Enforcement Network have released an expanded frequently asked questions
document to provide additional guidance on the customer identification
program rules issued under section 326 of the USA PATRIOT Act
Press Release:
www.federalreserve.gov/boarddocs/srletters/2005/sr0509.htm
Press Release:
www.federalreserve.gov/boarddocs/SRLETTERS/2005/sr0509.htm
Press Release:
www.fdic.gov/news/news/financial/2005/fil3405.html
Press Release:
www.occ.treas.gov/scripts/newsrelease.aspx?Doc=LO0MTQT4.xml
Attachment:
www.occ.treas.gov/ftp/release/2005-42a.pdf
Press Release:
www.occ.treas.gov/ftp/bulletin/2005-16.txt
Attachment:
www.occ.treas.gov/ftp/bulletin/2005-16a.pdf
April 28 2005 - The Federal Reserve Board on Thursday announced its approval
of the applications under section 3 of the Bank Holding Company Act, the
Bank Merger Act, and section 9 of the Federal Reserve Act for Capital City
Bank Group, Inc., Tallahassee, Florida, to acquire First Alachua Banking
Corporation, and thereby indirectly acquire First National Bank of Alachua,
both of Alachua, Florida.
www.federalreserve.gov/boarddocs/press/orders/2005/20050428/default.htm
April 27, 2005 - NCUA - Enhancing Member Services Initiative and the
Volunteer Income Tax Assistance Initiative documents are available
www.ncua.gov/CreditUnionDevelopment/Programs/programs.html
April 27, 2005 - Vice Chairman Roger W. Ferguson, Jr. - The Evolution of
Central Banking in the United States At a European Central Bank Colloquium
in Honor of Tommaso Padoa-Schioppa, The European Central Bank, Frankfurt,
Germany
www.federalreserve.gov/boarddocs/speeches/2005/20050427/default.htm
April 26, 2005 - NCUA - Revised FAQ: Section 326 of USA Patriot Act is
available.
www.ncua.gov/RegulationsOpinionsLaws/BankSecrecy/BankSerecy.htm
April 26, 2005 - NCUA Newsletter for May 2005 is available.
www.ncua.gov/news/newsletter/NCUA/05May.pdf
April 26, 2005 - Legal Interpretation - Letter to H. Rodgin Cohen, Esq.,
stating that the Board would not find that a proposed investment by The
Goldman Sachs Group, Inc., in Sumitomo Mitsui Financial Group, Inc., and
proposed business relationships between the two companies would cause
Goldman Sachs to control Sumitomo Mitsui for purposes of the Bank Holding
Company Act.
www.federalreserve.gov/boarddocs/legalint/BHC_ChangeInControl/2003/20030206/default.htm
April 26, 2005 - Legal Interpretation - Letter to Citigroup Inc., granting
an exemption from the quantitative limits of section 23A of the Federal
Reserve Act so that various subsidiary banks of Citigroup may acquire assets
of Associates First Capital Corporation.
www.federalreserve.gov/boarddocs/legalint/FederalReserveAct/2001/20010828/default.htm
April 26, 2005 - SR Letter05-08 - Interagency Interpretive Guidance on the
Provision of Banking Services to Money Services Businesses Operating in the
United States.
www.federalreserve.gov/boarddocs/srletters/2005/sr0508.htm
April 26, 2005 - The Federal Reserve Board on Tuesday announced its approval
of the proposal filed by C-B-G, Inc., West Liberty, Iowa, to acquire up to
24.35 percent of the voting shares of Washington Bancorp and thereby
indirectly acquire an interest in Federation Bank, both of Washington, Iowa.
www.federalreserve.gov/boarddocs/press/orders/2005/200504263/default.htm
April 26, 2005 - The Federal Reserve Board on Tuesday announced its approval
of the proposal filed by The PNC Financial Services Group, Inc., Pittsburgh,
Pennsylvania, to acquire Riggs National Corporation, Washington, D.C., and
its subsidiary bank, Riggs Bank National Association, McLean, Virginia.
www.federalreserve.gov/boarddocs/press/orders/2005/200504262/default.htm
April 26, 2005 - The Federal Reserve Board on Tuesday announced its approval
of the application filed by Republic Bancorp, Inc., Munden, Kansas, to
become a bank holding company and acquire 99.7 percent of the voting shares
of National Family Bank, Munden, Kansas.
www.federalreserve.gov/boarddocs/press/orders/2005/20050426/default.htm
April 26, 2005 - Acting Comptroller of the Currency Julie L. Williams
Testifies before Senate Committee On Implementation of Bank Secrecy Act in
the Context of Money Services Businesses - In testimony before the Senate
Banking Committee today, acting Comptroller of the Currency Julie L.
Williams discussed the implementation of the Bank Secrecy Act as it applies
to Money Services Businesses.
Press Release:
www.occ.treas.gov/scripts/newsrelease.aspx?Doc=J7SO5MTX.xml
Attachment:
www.occ.treas.gov/ftp/release/2005-41a.pdf
Attachment:
www.occ.treas.gov/ftp/release/2005-41b.pdf
April 26, 2005 - Guidance and Advisory Issued on Banking Services for Money
Services Businesses Operating in the United States - The Financial Crimes
Enforcement Network, along with the Board of Governors of the Federal
Reserve System, the Federal Deposit Insurance Corporation, the National
Credit Union Administration, the Office of the Comptroller of the Currency,
and the Office of Thrift Supervision (collectively, the "Federal Banking
Agencies"), today issued interpretive guidance designed to clarify the
requirements for, and assist banking organizations in, appropriately
assessing and minimizing risks posed by providing banking services to money
services businesses.
Press Release:
www.federalreserve.gov/boarddocs/press/bcreg/2005/20050426/default.htm
Press Release:
www.fdic.gov/news/news/press/2005/pr3605.html
Press Release:
www.ncua.gov/news/press_releases/2005/JR05-0426.pdf
Press Release:
www.federalreserve.gov/boarddocs/SRLETTERS/2005/sr0508.htm
Press Release:
www.ots.treas.gov/docs/7/77514.html
Press Release:
www.occ.treas.gov/scripts/newsrelease.aspx?JNR=1&Doc=D4298OQD.xml
Attachment:
www.occ.treas.gov/ftp/release/2005-40a.pdf
April 26, 2005 - Anti-Money Laundering Guidance Interpretive Guidance on
Providing Banking Services to Money Services Businesses Operating in the
United States - The federal banking, thrift and credit union regulatory
agencies and the Financial Crimes Enforcement Network have jointly issued
the attached interpretive guidance on "Providing Banking Services to Money
Services Businesses Operating in the United States.
www.fdic.gov/news/news/financial/2005/fil3205.html
April 25, 2005 - Licensing Manual Update - "A Guide to the National Banking
System" of the Comptroller's Licensing Manual series is available on the
OCC's Internet site.
www.occ.treas.gov/nb/nbguide.pdf
April 25, 2005 - The Federal Reserve Board on Monday announced the execution
of a Written Agreement by and between the Civitas BankGroup, Inc., Franklin,
Tennessee, and the Federal Reserve Bank of Atlanta.
www.federalreserve.gov/boarddocs/press/Enforcement/2005/20050425/default.htm
April 22, 2005 - Governor Donald L. Kohn - Imbalances in the U.S. Economy -
At the 15th Annual Hyman P. Minsky Conference, The Levy Economics Institute
of Bard College, Annandale-on-Hudson, New York
www.federalreserve.gov/boarddocs/speeches/2005/20050422/default.htm
April 22, 2005 - NCUA - Matz Affirms that Kids Count - Encourages Montana
Credit Unions to Invest in their Future - Building on the theme of the
Montana Credit Union Network's Annual Convention, "Kids Count - Investing in
Our Future," NCUA Board Member Debbie Matz encouraged credit unions to
invest in their future by reaching new members from all age groups and all
walks of life.
www.ncua.gov/news/press_releases/2005/NR05-0422.htm
April 22, 2005 - Bank Accounting Advisory Series, April 2005 - In these
accounting advisories, either the OCC's Office of the Chief Accountant
interprets generally accepted accounting principles or the OCC interprets
regulatory capital requirements.
www.occ.treas.gov/BA042005.pdf
_____________________
April 21, 2005 - Governor Edward M. Gramlich - A First Step in
Dealing with Growing Retirement Costs At the Spring 2005 Banking and
Finance Lecture, Widener University, Chester, Pennsylvania.
www.federalreserve.gov/boarddocs/speeches/2005/20050421/default.htm
April 21, 2005 - The Federal Reserve Board on Wednesday announced
the termination of the enforcement action listed below.
www.federalreserve.gov/boarddocs/press/Enforcement/2005/200504213/default.htm
April 21, 2005 - The Federal Reserve Board on Wednesday announced
the issuance of a consent Order of Assessment of a Civil Money
Penalty against the Irwin Union Bank, Columbus, Indiana, a state
member bank. Irwin Union Bank, without admitting to any allegations,
consented to the issuance of the Order in connection with its
alleged violations of the Board's Regulations implementing the
National Flood Insurance Act
www.federalreserve.gov/boarddocs/press/Enforcement/2005/200504212/default.htm
April 21, 2005 - The Federal Reserve Board on Wednesday announced
the issuance of a consent Order of Assessment of a Civil Money
Penalty against The Bank, Warrior, Alabama, a state member bank. The
Bank, without admitting to any allegations, consented to the
issuance of the Order in connection with its alleged violations of
the Board's Regulations implementing the National Flood Insurance
Act.
www.federalreserve.gov/boarddocs/press/Enforcement/2005/20050421/default.htm
April 21, 2005 - Chairman Alan Greenspan - Budget process reforms
Before the Budget Committee, U.S. Senate.
www.federalreserve.gov/boarddocs/testimony/2005/20050421/default.htm
April 20, 2005 - Community Reinvestment Act: Income Level, Median
Family Income - This bulletin announces the publication of data from
the U.S. Census and HUD that are used to determine 2005 income
levels of geographies and borrowers in CRA performance evaluations.
Press Release:
www.occ.treas.gov/ftp/bulletin/2005-14.txt
Attachment:
www.occ.treas.gov/ftp/bulletin/2005-14a.pdf
April 20, 2005 - Adjusting Chinese Bilateral Trade Data: How Big is
China's Trade Surplus - John W. Schindler; Dustin Beckett - Hong
Kong plays a prominent role as a re-exporter of a large percentage
of trade bound for or coming from China. Current reporting practices
in China and its trading partners do not fully reflect this role and
therefore provide a misleading picture of the origin or ultimate
destination of Chinese exports and imports.
www.federalreserve.gov/pubs/ifdp/2005/831/ifdp831.pdf
April 20, 2005 - Order Flow and Exchange Rate Dynamics in Electronic
Brokerage System Data - David W. Berger; Alain P. Chaboud; Sergey V.
Chernenko; Edward Howorka; Raj S. Iyer; David Liu;Jonathan H. Wright
- We study the association between order flow and exchange rate
returns in five years of high-frequency intraday data from the
leading interdealer electronic broking system, EBS.
www.federalreserve.gov/pubs/ifdp/2005/830/ifdp830.pdf
April 20, 2005 - NCUA - Chairman Johnson Focuses NCUA's Agenda
Toward Regulatory Flexibility.
www.ncua.gov/news/press_releases/2005/NR05-0420.htm
April 20, 2005 - NCUA - Chairman Johnson Welcomes Russian Visitors
to NCUA.
www.ncua.gov/news/press_releases/2005/NR05-0419.htm
April 20, 2005 - OCC Announces New Electronic Interpretations and
Actions - April 2005.
www.occ.treas.gov/interp/apr05/intapr05.htm
April 20, 2005 -Community Reinvestment Act Final Technical
Amendments to CRA Regulations - The banking and thrift regulatory
agencies have adopted in final form, without any changes, the joint
interim rule making technical changes to the Community Reinvestment
Act regulations published for comment in the Federal Register on
July 8, 2004.
www.fdic.gov/news/news/financial/2005/fil2905.html
April 20, 2005 - Beige Book - Informal review by the Federal Reserve
Banks of current economic conditions in their Districts.
www.federalreserve.gov/fomc/beigebook/2005/20050420/default.htm
April 20, 2005 - The Federal Reserve Board on Wednesday announced
the approval of the application of Banco Financiera Comercial
Hondureña, S.A., Tegucigalpa, Honduras, to establish a
representative office in Miami, Florida.
www.federalreserve.gov/boarddocs/press/orders/2005/20050420/default.htm
April 20, 2005 - Vice Chairman Roger W. Ferguson, Jr. - U.S. Current
Account Deficit: Causes and Consequences - To the Economics Club of
the University of North Carolina at Chapel Hill, Chapel Hill, North
Carolina.
www.federalreserve.gov/boarddocs/speeches/2005/20050420/default.htm
April 20, 2005 - Louise L. Roseman Director, Division of Reserve
Bank Operations and Payment Systems - Recent developments in the
payments system Before the Subcommittee on Financial Institutions
and Consumer Credit, Committee on Financial Services, U.S. House of
Representatives.
www.federalreserve.gov/boarddocs/testimony/2005/20050420/default.htm
April 19, 2005 - OCC Releases CRA Evaluations For 32 National Banks
- The Office of the Comptroller of the Currency today released a
list of Community Reinvestment Act performance evaluations that
became public during the period of March 15, 2004 through April 14,
2005.
www.occ.treas.gov/scripts/newsrelease.aspx?Doc=XILZI3PX.xml
April 19, 2005 - OCC Announces 15 Enforcement Actions and Two
Terminations - The Office of the Comptroller of the Currency today
announced 15 new enforcement actions taken against national banks
and individuals currently and formerly affiliated with national
banks and two terminations of existing enforcement actions.
www.occ.treas.gov/ftp/release/2005-38.htm
April 19, 2005 - The Board has requested public comment on the
proposals listed below. Comments can be submitted through this web
site using the "Submit comment" links. Comments may also be
submitted in writing or by electronic mail.
www.federalreserve.gov/generalinfo/foia/proposedregs.cfm
April 19, 2005 - The Federal Reserve Board has announced amendments
to Appendix A of Regulation CC that reflect the restructuring of the
Federal Reserve's check processing operations in the Tenth and
Twelfth Districts.
www.federalreserve.gov/boarddocs/press/bcreg/2005/20050419/default.htm
April 19, 2005 - The Federal Reserve Board on Tuesday released the
minutes of its discount rate meetings from February 7 through March
22, 2005.
www.federalreserve.gov/boarddocs/press/monetary/2005/20050419/default.htm
April 19, 2005 - Chicago Fed 2004 Annual Report Now Available - As
the population of community banks continues to decline, some worry
that this most traditional of U.S. financial institutions might no
longer be viable. But a careful look at the data doesn't square with
a path to extinction. Instead, the evidence suggests a process of
natural selection in which well-run community banks will thrive.
www.chicagofed.org/about_the_fed/annual_report.cfm
April 19, 2005 - NCUA - Credit Unions from 35 States Registered for
PALS Workshop on April 28 in St. Louis, Missouri - More than 260
credit union officials from 35 states will participate in NCUA Board
Member Debbie Matz's free Partnering and Leadership Successes (PALS)
workshop on April 28 in St. Louis.
www.ncua.gov/news/press_releases/2005/MA05-0419.htm
April 18, 2005 - NCUA - Small Credit Union Workshop in Buffalo, NY.
www.ncua.gov/CreditUnionDevelopment/SCUP/R1/R1Events.htm
April 18, 2005 - Director Gilleran to Leave OTS - James E. Gilleran,
Director of the Office of Thrift Supervision since 2001, has
announced that he will be leaving his position as OTS Director
effective April 29, 2005.
www.ots.treas.gov/docs/7/77513.html
April 18, 2005 - Federal Reserve Relaunches Financial Education
Website - As a part of its ongoing commitment to economic education
and financial literacy, the Federal Reserve has relaunched its
financial education website incorporating materials for students,
teachers and the general public under a single web address.
www.kc.frb.org/pubaffrs/pressrel/pr05-10.htm
April 18, 2005 - Statement of FDIC Chairman Don Powell Regarding the
Departure of James E. Gilleran, Director of the Office of Thrift
Supervsion and Member of the FDIC Board of Directors.
www.fdic.gov/news/news/press/2005/pr3405.html
April 18, 2005 - Yesterday's Bad Times are Today's Good Old Times:
Retail Price Changes in the 1890s were Smaller, Less Frequent, and
More Permanent Alan Kackmeister - Abstract: This paper compares
nominal price rigidity in retail stores during two 28-month periods:
1889- 1891 and 1997-1999.
www.federalreserve.gov/Pubs/FEDS/2005/200518/200518pap.pdf
April 18, 2005 - Finance and Economics Discussion Series - Are Firms
or Workers Behind the Shift Away from DB Pension Stephanie Aaronson
and Julia Coronado - Abstract: One of the most striking changes in
the composition of household retirement savings over the past 20
years has been the shift from defined benefit to defined
contribution pension plans.
www.federalreserve.gov/Pubs/FEDS/2005/200517/200517pap.pdf
April 18, 2005 - The Effects of Local Banking Market Structure on
the Banking-Lending Channel of Monetary Policy - Robert M. Adams and
Dean F. Amel - Abstract: We study the relationship between banking
competition and the transmission of monetary policy through the bank
lending channel.
www.federalreserve.gov/Pubs/FEDS/2005/200516/200516pap.pdf
April 18, 2005 - The Effects of Competition from Large, Multimarket
Firms on the Performance of Small, Single-Market Firms: Evidence
from the Banking Industry - Allen N. Berger, Astrid A. Dick,
Lawrence G. Goldberg, and Lawrence J. White - We offer and test two
competing hypotheses for the consolidation trend in banking using
U.S. banking industry data over the period 1982-2000.
www.federalreserve.gov/Pubs/FEDS/2005/200515/200515pap.pdf
April 18, 2005 - Tracking the Source of the Decline in GDP
Volatility: An Analysis of the Automobile Industry - Valerie A.
Ramey and Daniel J. Vine Recent papers by Kim and Nelson (1999) and
McConnell and Perez-Quiros (2000) uncover a dramatic decline in the
volatility of U.S. GDP growth beginning in 1984.
www.federalreserve.gov/Pubs/FEDS/2005/200514/200514pap.pdf
April 18, 2005 - Governor Susan Schmidt Bies - The Economy and
Managing Personal Finances - At the Canisius College Richard J.
Wehle School of Business Community Business Luncheon, Buffalo, New
York.
www.federalreserve.gov/boarddocs/speeches/2005/20050418/default.htm
April 18, 2005 - The Federal Reserve System on Monday announced it
has redesigned its financial education web site to increase the use
of Federal Reserve educational materials and promote financial
education in the classroom.
www.federalreserve.gov/boarddocs/press/other/2005/20050418/
April 15, 2005 - NCUA Chairman Johnson, National Leaders Join
Together on Financial Empowerment in Atlanta - In recognition of
Financial Literacy Month, National Credit Union Administration
Chairman JoAnn Johnson participated in a "Day of Hope" with
government and national leaders involved in civil rights and
economic empowerment in Atlanta on April 12.
www.ncua.gov/news/press_releases/2005/NR05-0415.htm
April 15, 2005 - NCUA - Statement of NCUA Chairman JoAnn Johnson -
National Credit Union Administration (NCUA) Chairman JoAnn Johnson
issued the following statement today regarding the House passage of
S. 256, The Bankruptcy Abuse Prevention and Consumer Protection Act
of 2005.
www.ncua.gov/news/press_releases/2005/ST05-0415.htm
April 15, 2005 - Industrial Production And Capacity Utilization -
Industrial production increased 0.3 percent in March after a
downwardly revised gain of 0.2 percent in February. For the first
quarter as a whole, industrial production rose at an annual rate of
3.6 percent after an advance of 4.5 percent in the fourth quarter.
www.federalreserve.gov/releases/g17/current/default.htm
________________
April 14, 2005 - NCUA - Security Program and Appendix B - Guidance
on Response Programs for Unauthorized Access to Member Information and
Member Notice.
www.ncua.gov/RegulationsOpinionsLaws/RecentFinalRegs/F-748.pdf
April 14, 2005 - NCUA - Report of Actions Taken the NCUA Board Meeting April
14, 2005.
www.ncua.gov/NCUABoard/board_reports/board_reports.html
April 14, 2005 - Response Programs for Unauthorized Access to Customer
Information and Customer Notice: Final Guidance - The Federal banking
agencies jointly issued guidance that states that financial institutions
should develop and implement a response program to address security breaches
involving customer information, including customer notification procedures.
Press Release:
www.occ.treas.gov/ftp/bulletin/2005-13.txt
Attachment:
www.occ.treas.gov/fr/fedregister/70fr15736.pdf
April 14, 2005 - Governor Ben S. Bernanke - The Global Saving Glut and the
U.S. Current Account Deficit At the Homer Jones Lecture, St. Louis, Missouri
Governor Ben S. Bernanke presented similar remarks at the Sandridge Lecture,
Virginia Association of Economists, Richmond, Virginia, on March 10, 2005.
www.federalreserve.gov/boarddocs/speeches/2005/20050414/default.htm
April 14, 2005 - Governor Donald L. Kohn - Economic Outlook At the 2005
Conference of Twelfth District Directors, Federal Reserve Bank of San
Francisco, San Francisco, California
www.federalreserve.gov/boarddocs/speeches/2005/200504142/default.htm
April 14, 2005 - NCUA - Proposed Rule 12 CFR Part 723 - Member Business
Loans - NCUA proposes to revise its member business loans rule to clarify
the minimum capital requirements a federally insured corporate credit union
must meet to make unsecured MBLs to its members other than member credit
unions and corporate credit union service organizations.
www.ncua.gov/RegulationsOpinionsLaws/proposed_regs/Proposed723.pdf
April 13, 2005 - NCUA - Chairman Johnson's Congressional testimony on the
"Net Worth Amendment For Credit Unions Act"
www.ncua.gov/news/speeches/2005/Johnson/HR1042Testimony.pdf
April 13, 2005 - NCUA Chairman Highlights the Role of America's Credit
Unions in the "Ownership Society" for Emerging Small Businesses - America's
credit unions have a pivotal role to play in an "ownership society", as the
not-for-profit financial cooperatives provide their member entrepreneurs
with access to affordable credit and capital to grow and expand their small
businesses, according to National Credit Union Administration Chairman JoAnn
Johnson.
www.ncua.gov/news/press_releases/2005/NR05-0413-2.htm
April 13, 2005 - NCUA - Johnson Testifies on the Credit Union Net Worth Bill
- NCUA Chairman JoAnn Johnson testified today on H.R. 1042, the "Net Worth
Amendment for Credit Unions Act," before the U.S. House Subcommittee on
Financial Institutions and Consumer Credit.
www.ncua.gov/news/press_releases/2005/NR05-0413.htm
April 13, 2005 - Interagency Guidance for Determination of Risk-Based
Capital for Unrated Direct Credit Substitutes Extended to Asset-Backed
Commercial Paper Programs: Asset-Backed Commercial Paper.
Press Release:
www.occ.treas.gov/ftp/bulletin/2005-12.txt
Attachment:
www.occ.treas.gov/ftp/bulletin/2005-12a.pdf
April 12, 2005 - FRB Statistical Release - G.20 Finance Companies.
www.federalreserve.gov/releases/g20/current/default.htm
April 12, 2005 - Minutes of the Federal Open Market Committee - A meeting of
the Federal Open Market Committee was held in the offices of the Board of
Governors of the Federal Reserve System in Washington, D.C., on Tuesday,
March 22, 2005, at 9:00 a.m.
www.federalreserve.gov/fomc/minutes/20050322.htm
April 12, 2005 - Legal Interpretation - To Leucadia National Corporation
opining that the conversion of its subsidiary, American Investment Bank, N.A.,
Salt Lake City, Utah, from a national bank to a Utah-chartered commercial
bank would not cause Leucadia to lose certain grandfather rights that it
maintains under section 4(f) of the Bank Holding Company Act.
www.federalreserve.gov/boarddocs/legalint/bhc_changeincontrol/2004/20041012/default.htm
April 12, 2005 - Community Reinvestment Act: Final Rule--Technical Amendment
- Federal financial regulating agencies jointly issued a final rule on CRA.
The rule adopts changes in the Standards for Defining Metropolitan and
Micropolitan Statistical Areas, census tracts designations, and the FRB's
Regulation C. It also makes a correction to a cross-reference within the CRA
regulations.
Press Release:
www.occ.treas.gov/ftp/bulletin/2005-11.txt
Attachment:
www.occ.treas.gov/fr/fedregister/70fr15570.pdf
April 11, 2005 - NCUA - Chairman Johnson to Participate in Atlanta Financial
Literacy Events - Participates in A Day of Hope with Ambassador Andrew
Young; Founder, Chairman and Chief Executive Officer of Operation Hope, Inc.
John Bryant; City of Atlanta Mayor Shirley Franklin; former HUD Secretary
Jack Kemp; Dorothy I. Height; and other high ranking federal and state
officials to announce a citywide commitment to educate every middle and high
school student in financial literacy in the Atlanta Public School District.
Operation HOPE will be issuing a national report on financial literacy.
www.ncua.gov/news/press_releases/2005/NR05-0411.htm
April 11, 2005 - Letter to Stakeholders First Quarter 2005 Edition of the
FDIC's Letter to Stakeholders - The FDIC has issued its quarterly Letter to
Stakeholders, which reports on the priorities and activities for the first
quarter of 2005. The Letter to Stakeholders is attached.
www.fdic.gov/news/news/financial/2005/fil2805.html
April 11, 2005 - FDIC Chairman Powell Discusses Minimum Capital Requirements
for U.S. Banks - In remarks delivered April 8 at a derivatives conference
co-sponsored by the Federal Deposit Insurance Corporation, Cornell
University and the University of Houston, Chairman Don Powell commented on
the relationship between the new Basel capital framework and the leverage
capital requirement mandated by the Federal Deposit Insurance Corporation
Improvement Act.
www.fdic.gov/news/news/press/2005/pr3305.html
April 11, 2005 - Basel II White Papers - An Analysis of the Potential
Competitive Impacts of Basel II Capital Standards on U.S. Mortgage Rates and
Mortgage Securitization.
www.federalreserve.gov/generalinfo/basel2/docs2005/potentialimpact.pdf
April 8, 2005 - NCUA - DeSarno Named Inspector General - The National Credit
Union Administration Board has selected William A. DeSarno NCUA Inspector
General effective immediately. Mr. DeSarno has been serving as acting
inspector general since December 2004.
www.ncua.gov/news/press_releases/2005/NR05-0408.htm
April 8, 2005 - Legal Interpretation - To Omni National Bank granting an
exemption from section 23A of the Federal Reserve Act and from Regulation W.
www.federalreserve.gov/boarddocs/legalint/FederalReserveAct/2005/20050408/default.htm
April 8, 2005 - Federal Bank, Thrift and Credit Union Regulatory Agencies
Provide Brochure with Information on Internet "Phishing."
Press Release:
www.occ.treas.gov/scripts/newsrelease.aspx?JNR=1&Doc=CYVFS1NN.xml
Attachment:
www.occ.treas.gov/consumer/PhishBrochFINAL-SCREEN.pdf
April 8, 2005 - Licensing Manual Update - The revised "Investment in
Subsidiaries and Equities" booklet of the Comptroller's Licensing Manual
series is available on the OCC's Internet site. The revisions incorporate
many regulatory and policy changes, such as, establishing a financial
subsidiary; performing insurance activities pursuant to 12 U.S.C. 92; making
a noncontrolling investment; or filing the annual operating subsidiary
report.
www.occ.treas.gov/corpbook/group2/public/pdf/opsubs.pdf
April 8, 2005 - Chairman Alan Greenspan - Consumer Finance At the Federal
Reserve System's Fourth Annual Community Affairs Research Conference,
Washington, D.C.
www.federalreserve.gov/boarddocs/speeches/2005/20050408/default.htm
___________________
April 7, 2005 - NCUA - Agenda for the April 14, 2005 Board meeting
is available.
www.ncua.gov/NCUABoard/Calendars/board_calendar/ag05-0414.htm
April 7, 2005 - Universities Should Work On Improving Own Productivity: St.
Louis Fed's Poole link to speech - Most people would agree that college
tuition has increased dramatically in recent years. Between 1990 and 2000,
tuition jumped an average of 5.9 percent a year at public colleges and 5.5
percent annually at private colleges. That's more than double the average
consumer price index increase of 2.7 percent.
www.stlouisfed.org/news/releases/2005/4_07_05.html
April 7, 2005 - FRB Statistical Release - G.19 Consumer Credit - Consumer
credit increased at an annual rate of 3 percent in February, down from a
6-1/2 percent pace in January. In February, revolving credit moved up
moderately, while nonrevolving credit edged up.
www.federalreserve.gov/Releases/G19/Current/default.htm
April 7, 2005 - Legal Interpretation - To Klein Financial, Inc. granting an
exemption from section 23A of the Federal Reserve Act and Regulation W
www.federalreserve.gov/boarddocs/legalint/FederalReserveAct/2005/20050401/default.htm
April 7, 2005 - Caribbean International Bank, a.k.a. Caribbean International
Credit & Trust - The Central Bank of Barbados has informed the OCC that
Caribbean International Bank, also known as Caribbean International Credit &
Trust, has not been licensed to operate as a bank in Barbados. Additionally,
the OCC has not authorized this entity to operate as a bank in the United
States. Please contact the OCC if you have any information about this
matter.
www.occ.treas.gov/ftp/alert/2005-7.txt
April 7, 2005 - FRB Statistical Release - U.S. Reserve Assets; and Foreign
Official Assets Held at Federal Reserve Banks
www.federalreserve.gov/releases/bulletin/0305assets.htm
April 6, 2005 - Overdraft Protection Programs: Interagency Guidance - This
bulletin announces that the OCC, FDIC, FRB, and NCUA jointly published in
the Federal Register "Joint Guidance on Overdraft Protection Programs." The
guidance identifies the agencies' concerns about the marketing, disclosure,
and implementation of overdraft protection programs.
Press Release:
www.occ.treas.gov/ftp/bulletin/2005-9.txt
Attachment:
www.occ.treas.gov/fr/fedregister/70fr9127.pdf
April 6, 2005 - Availability of Funds and Collection of Checks (Regulation
CC) and Collection of Checks and Other Items by Federal Reserve Banks and
Funds Transfers through Fedwire (Regulation J) - This bulletin announces
that the Federal Reserve Board is requesting public comment on a proposal to
amend its Regulation CC, the implementing regulation for the Expedited Funds
Availability Act.
Press Release:
www.occ.treas.gov/ftp/bulletin/2005-10.txt
Attachment:
www.occ.treas.gov/fr/fedregister/70fr10509.pdf
April 6, 2005 - Chairman Alan Greenspan - Regulatory reform of the
government-sponsored enterprises Before the Committee on Banking, Housing,
and Urban Affairs, U.S. Senate.
www.federalreserve.gov/boarddocs/testimony/2005/20050406/default.htm
April 5, 2005 - NCUA - Letter to Corporate Credit Unions 2005 -02 -
Governance Policies.
www.ncua.gov/CorporateCU/CorpLetters/2004/2004-02.pdf
April 5, 2005 - FDIC Issues April List of Banks Examined for CRA Compliance
- The Federal Deposit Insurance Corporation today issued its monthly list of
state nonmember banks recently evaluated for compliance with the Community
Reinvestment Act. The list covers evaluation ratings that the FDIC assigned
to institutions in January 2005.
www.fdic.gov/news/news/press/2005/pr3205.html
April 5, 2005 - Chairman Alan Greenspan - Energy - Before the National
Petrochemical and Refiners Association Conference, San Antonio, Texas (via
satellite).
www.federalreserve.gov/boarddocs/speeches/2005/20050405/default.htm
April 5, 2005 - NCUA - Board Member Focuses on Threats to CUs at NCUA /
NASCUS Conference - Opening a fresh dialog with state regulators, NCUA Board
Member Debbie Matz shared her observations about current threats to credit
unions, and suggested that regulators can work together to help credit
unions grow stronger in the future.
www.ncua.gov/news/press_releases/2005/NR05-0405.htm
April 4, 2005 - NCUA Submits Prompt Corrective Action Proposal For Reform To
Congress - National Credit Union Administration Chairman JoAnn Johnson
announced today that the NCUA has delivered its report entitled Prompt
Corrective Action Proposal for Reform to Congress.
www.ncua.gov/news/press_releases/2005/NR05-0404.htm
April 4, 2005 - Matz's Changes Incorporated into NCUA PCA Reform Proposal -
Changes requested by NCUA Board Member Debbie Matz have been incorporated
into the final Prompt Corrective Action reform proposal released by NCUA to
provide credit unions with capital flexibility.
www.ncua.gov/news/press_releases/2005/NR05-0404-2.htm
April 1, 2005 - Omaha's Westside High School Wins, Lawton's Eisenhower high
school runner-up in 2005 regional fed Challenge Competition - Omaha,
Nebraska's Westside High School took first place honors while Lawton,
Oklahoma's Eisenhower High School was runner-up at the Federal Reserve Bank
of Kansas City's regional Fed Challenge competition on March 31, 2005
www.kc.frb.org/pubaffrs/pressrel/pr05-09.htm
April 1, 2005 - Agencies Announce Answers to Frequently Asked Questions
About New HMDA Data - The federal bank, credit union, and thrift supervisory
agencies, along with the Department of Housing and Urban Development, today
released a set of "Answers to Frequently Asked Questions" that address the
new home loan price data disclosed this year for the first time under the
Home Mortgage Disclosure Act.
www.ots.treas.gov/docs/7/77512.html
April 1, 2005 - Final Guidance on Response Programs Guidance on Response
Programs for Unauthorized Access to Customer Information and Customer Notice
- The FFIEC agencies are jointly issuing the attached interpretive guidance
for financial institutions to develop and implement a response program
designed to address incidents of unauthorized access to sensitive customer
information maintained by the financial institution or its service provider.
www.fdic.gov/news/news/financial/2005/fil2705.html
April 1, 2005 - FRB Statistical Release - G.5 Foreign Exchange Rates
www.federalreserve.gov/releases/g5/current/default.htm |
You can receive the regulatory press releases every week by subscribing to
The E-mail Banking News at
https://yennik.com/newletter_page.htm.
There is no charge for the e-newsletter.
Contact Kinney Williams at
examiner@yennik.com
if you have any questions.
| PLEASE NOTE: Some
of the above links may not function properly because the regulatory agency
has changed the URL. Please e-mail us at
examiner@yennik.com if we can be of assistance. |
Return to the Community Banker Home Page
|
