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

The Community Banker
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Bank Regulatory News

August 2009

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August 31, 2009 - Kaiser Lakeside Credit Union Placed into Liquidation; SafeAmerica Credit Union - The National Credit Union Administration today was appointed liquidating agent of Kaiser Lakeside Credit Union of Oakland, California by the California Department of Financial Institutions.   www.ncua.gov/news/press_releases/2009/MR09-0831.htm 

August 31, 2009 - New Consumer Protections for Credit Cards and Mortgages: How They Can Help Borrowers Avoid Surprises - Other Topics in the Latest FDIC Consumer News Include Making the Most of Bank Rewards Programs and New Resources Explaining Deposit Insurance Coverage.   www.fdic.gov/news/news/press/2009/pr09158.html 

August 31, 2009 - FDIC Issues Fourth Quarter 2009 CRA Examination Schedule - The Federal Deposit Insurance Corporation has issued the public list of institutions that it has scheduled for a Community Reinvestment Act examination during the fourth quarter of 2009. This list is published pursuant to revised CRA regulations published in May 1995 that require each federal bank and thrift regulator to publish a quarterly CRA examination schedule at least 30 days before the beginning of each quarter. www.fdic.gov/news/news/press/2009/pr09159.html 

August 31, 2009 - OCC Allows National Bank Offices Affected by California Fires to Close - The Office of the Comptroller of the Currency today issued a proclamation allowing national bank offices affected by the fires in California to close at their discretion. www.occ.treas.gov/ftp/release/2009-102.htm 

August31, 2009 - OCC Issues Fourth Quarter 2009 CRA Examination Schedule - The Office of the Comptroller of the Currency today released its schedule of Community Reinvestment Act examinations to be conducted in the fourth quarter of 2009. www.occ.treas.gov/ftp/release/2009-103.htm 

August 28, 2009 - The Federal Reserve on Friday announced that the amounts of Term Auction Facility credit offered at each of the two auctions in September will be reduced to $75 billion from $100 billion in August. Specifically, the Federal Reserve will offer $75 billion of 84-day credit on Tuesday, September 8, and $75 billion of 28-day credit on Monday, September 21.  www.federalreserve.gov/newsevents/press/monetary/20090828a.htm 

August 28, 2009 - Pacific Western Bank, San Diego, California, Assumes All of the Deposits of Affinity Bank, Ventura, California - Affinity Bank, Ventura, California, was closed today by the California Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Pacific Western Bank, San Diego, California, to assume all of the deposits of Affinity Bank. www.fdic.gov/news/news/press/2009/pr09157.html 

August 28, 2009 - Central Bank, Stillwater, Minnesota, Assumes All of the Deposits of Mainstreet Bank, Forest Lake, Minnesota - Mainstreet Bank, Forest Lake, Minnesota, was closed today by the Minnesota Department of Commerce, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Central Bank, Stillwater, Minnesota, to assume all of the deposits of Mainstreet Bank. www.fdic.gov/news/news/press/2009/pr09156.html 

August 28, 2009 - Manufacturers and Traders Trust Company, Buffalo, New York, Assumes All of the Deposits of Bradford Bank, Baltimore, Maryland - Bradford Bank, Baltimore, Maryland, was closed today by the Office of Thrift Supervision, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Manufacturers and Traders Trust Company, Buffalo, New York, to assume all of the deposits of Bradford Bank. www.fdic.gov/news/news/press/2009/pr09155.html 

August 28, 2009 - Statistical Release - G.20 Finance Companies.  www.federalreserve.gov/releases/g20/current/g20.htm 

August 28, 2009 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm 

August 28, 2009 - FDIC Makes Public July Enforcement Actions; No Administrative Hearings are Scheduled - The Federal Deposit Insurance Corporation today released a list of orders of administrative enforcement actions taken against banks and individuals in July. No administrative hearings are scheduled. www.fdic.gov/news/news/press/2009/pr09154.html 

August 28, 2009 - Enhanced Supervisory Procedures for Newly Insured FDIC-Supervised Depository Institutions - The FDIC is advising the banking industry of supervisory changes for state nonmember institutions insured seven years or less. Under current policy, newly insured institutions are subject to higher capital requirements and more frequent examination activities during the first three years of operation.   www.fdic.gov/news/news/financial/2009/fil09050.html 

August 28, 2009 - OCC Announces New Electronic Interpretations and Actions - August 2009.  www.occ.treas.gov/interp/aug09/intaug09.htm 

August 28, 2009 - NCUA - Free Choice Federal Credit Union Liquidated; Members Now Served by Trumark Financial Credit Union - The National Credit Union Administration today liquidated Free Choice Federal Credit Union in Feasterville, Pennsylvania. Its members' share accounts were purchased and assumed by Trumark Financial Credit Union of Trevose, Pennsylvania, providing Free Choice members with uninterrupted credit union service. www.ncua.gov/news/press_releases/2009/MR09-0828a.htm 

August 28, 2009 - NCUA Chairman Matz Addresses Credit Union Concerns On Credit CARD Act Compliance - In response to credit union concerns about compliance with new requirements under the Credit Card, Accountability, Responsibility, and Disclosure Act of 2009, NCUA Chairman Debbie Matz underscored the NCUA's commitment to consumer protection and ensuring credit union compliance, while recognizing some credit unions may have technical difficulties and the need for examiners to work with credit unions on a case-by-case basis. www.ncua.gov/news/press_releases/2009/MR09-0828c.htm 

August 28, 2009 - NCUA -Fraud Alert-Update- The National Credit Union Administration has obtained additional information about the situation initially described in NCUA's August 25, 2009 Fraud Alert. www.ncua.gov/news/press_releases/2009/MR09-0828d.htm
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August 27, 2009 - The Federal Reserve Board on Thursday announced the execution of a Written Agreement by and among LegacyTexas Group, Inc., a registered bank holding company, LegacyTexas Bank, a state chartered member bank, both of Plano, Texas, the Federal Reserve Bank of Dallas, and the Texas Department of Banking. www.federalreserve.gov/newsevents/press/enforcement/20090827a.htm 

August 27, 2009 - Report Pursuant to Section 129 of the Emergency Economic Stabilization Act of 2008 - Periodic update, date August 25, 2009.   www.federalreserve.gov/monetarypolicy/bst_reportsresources.htm 

August 27, 2009 - FDIC-Insured Institutions Lost $3.7 Billion in the Second Quarter of 2009 - Total Reserves of the Deposit Insurance Fund Stood at $42 Billion - Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation reported an aggregate net loss of $3.7 billion in the second quarter of 2009, a decline of $8.5 billion from the $4.8 billion in profits the industry reported in the second quarter of 2008.   www.fdic.gov/news/news/press/2009/pr09153.html 

August 27, 2009 - Statement by FDIC Chairman Sheila Bair at the Quarterly Banking Profile Press Conference, August 27, 2009.   www.fdic.gov/news/news/press/2009/pr09_qbp.html

August 27, 2009 - Transaction Account Guarantee Extension - Third Quarter 2009 - On August 26, 2009, the FDIC adopted the attached final rule extending the Transaction Account Guarantee portion of the Temporary Liquidity Guarantee Program for six months, through June 30, 2010. For institutions that choose to remain in the program, the fee will be raised and adjusted to reflect the institution's risk. www.fdic.gov/news/news/financial/2009/fil09048.html 

August 27, 2009 - Regulatory Capital Standards - Notice of Proposed Rulemaking Regarding Risk-Based Capital: Impact of Modifications to Generally Accepted Accounting Principles, Consolidation of Asset-Backed Commercial Paper Programs, and Other Related Issues - The federal banking agencies are requesting comment on a proposal to better align capital requirements with the actual risk of certain exposures and to obtain public comment on the effect on regulatory capital that will result from the implementation of the Financial Accounting Standards Board's Statement of Financial Accounting Standards.   www.fdic.gov/news/news/financial/2009/fil09049.html 

August 27, 2009 - Unauthorized Banking - The Office of the Comptroller of the Currency has identified a Web site claiming to be associated with a national bank named Sovereign Trust Capital Reserve Bank, N.A. The Sovereign Trust Capital Reserve Bank, N.A., is not authorized pursuant to federal law to conduct business as a national bank by the OCC. It is a violation of federal criminal law, 18 USC 709, for any corporation or person acting on behalf of a corporation to hold itself out as a national bank without authorization.   www.occ.treas.gov/ftp/alert/2009-14.html 

August 27, 2009 - Farmland Values Down from Last Year - AgLetter reports Midwest farmland values lower in second quarter.- Farmland values for the second quarter of 2009 were 3 percent lower than a year ago in the Seventh Federal Reserve District. www.chicagofed.org/publications/agletter/august_2009.pdf 

August 26, 2009 - Agencies Seek Comment on Proposed Regulatory Capital Standards Related to Adoption of Statements of Financial Accounting Standards No. 166 and 167 - The federal banking and thrift regulatory agencies are seeking comment on a proposed regulatory capital rule related to the Financial Accounting Standards Board's adoption of Statements of Financial Accounting Standards Nos. 166 and 167. Beginning in 2010, these accounting standards will make substantive changes to how banking organizations account for many items, including securitized assets, that are currently excluded from these organizations' balance sheets.
Press Release: www.federalreserve.gov/newsevents/press/bcreg/20090826a.htm 
Press Release: www.fdic.gov/news/news/press/2009/pr09151.html 
Press Release: www.occ.treas.gov/ftp/release/2009-101.htm 
Press Release: http://www.ots.treas.gov/?p=PressReleases&ContentRecord_id=5882162c-1e0b-8562-eb6b-a0915cd55af9&ContentType_id=4c12f337-b5b6-4c87-b45c-838958422bf3 

August 26, 2009 - The Federal Reserve Board on Wednesday warned consumers about fraudulent solicitations that appear to be made with the approval or involvement of the Federal Reserve, Federal Reserve officials, or other U.S. government officials. These solicitations promise bogus financial services or large sums of money in exchange for either payment or personal information that can then be used to access a consumer's bank account. www.federalreserve.gov/newsevents/press/other/20090826a.htm 

August 26, 2009 - FDIC Board Approves Final Statement of Policy on the Acquisition of Failed Depository Institutions - The FDIC Board today adopted a final Statement of Policy on the Acquisition of Failed Insured Depository Institutions. This policy statement provides guidance to investors interested in acquiring or investing in the deposit liabilities of failed banks or thrifts about the standards they will be expected to meet in order to qualify to bid on a failed institution. www.fdic.gov/news/news/press/2009/pr09152.html 

August 26, 2009 - Comptroller Highlights Interagency Work to Promote Community Development - Comptroller of the Currency John C. Dugan described the interagency efforts to encourage community reinvestment and help banks meet their community development goals during a speech today at the Interagency Community Affairs Conference. www.occ.treas.gov/ftp/release/2009-98.htm 

August 26, 2009 - OCC Issues Additional Guidance on Credit Card Account Rate Increases - The Office of the Comptroller of the Currency issued a bulletin today on provisions of the Credit Card Accountability Responsibility and Disclosure Act of 2009. The bulletin describes an interim final rule issued by the Federal Reserve Board that requires banks to notify customers 45 days in advance of any rate increase or significant changes in credit card account terms. The rules also require lenders to disclose that their customers have the right to reject those changes. www.occ.treas.gov/ftp/release/2009-99.htm 

August 26, 2009 - OCC Releases CRA Evaluations For 20 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 July 15, 2009 through August 14, 2009. 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. www.occ.treas.gov/ftp/release/2009-100.htm

August 26, 2009 - Thrift Industry Breaks Even in Second Quarter of 2009 - The U.S. thrift industry essentially broke even in the second quarter of 2009, reporting a slight profit of $4 million - the first positive earnings for the industry since the third quarter of 2007, the Office of Thrift Supervision reported today. www.ots.treas.gov/?p=PressReleases&ContentRecord_id=576a1dfd-1e0b-8562-eb4e-20aae54f7f54&ContentType_id=4c12f337-b5b6-4c87-b45c-838958422bf3 

August 25, 2009 - The Federal Reserve Board on Tuesday announced the execution of a Written Agreement by and among Virginia Business Bank, Richmond, Virginia, a state chartered member bank, the Federal Reserve Bank of Richmond, and the Virginia Bureau of Financial Institutions. www.federalreserve.gov/newsevents/press/enforcement/20090825a.htm

August 25, 2009 - On August 24, 2009, the Federal Reserve conducted an auction of $100 billion in 28-day credit through its Term Auction Facility. Following are the results of the auction: www.federalreserve.gov/newsevents/press/monetary/20090825a.htm

August 25, 2009 - Statement by Chairman Bernanke on his renomination by President Obama.   www.federalreserve.gov/newsevents/press/other/20090825a.htm 

August 25, 2009 - NCUA - The National Credit Union Administration is alerting all federally insured credit unions about a fraudulent Letter to Credit Unions. www.ncua.gov/news/press_releases/2009/MR09-0825a.htm 

August 24, 2009 - On August 24, 2009, the Federal Reserve will offer $100 billion in 28-day credit through its Term Auction Facility. Additional information regarding the auction is listed below; the auction will be conducted as specified in this announcement, Regulation A, and the terms and conditions of the Term Auction Facility.   www.federalreserve.gov/newsevents/press/monetary/20090824a.htm 

August 24, 2009 - Supervision Manuals - Bank Holding Company Supervision Manual, July 2009 update - Provides guidance for conducting inspections of bank holding companies and their nonbank subsidiaries. The supervisory objectives of the inspection program are to ascertain whether the financial strength of the bank holding company is being maintained on an ongoing basis and to determine the effects or consequences of transactions between a holding company or its nonbanking subsidiaries and its subsidiary banks. www.federalreserve.gov/boarddocs/supmanual/bhc/200907/bhc0709.pdf 

August 24, 2009 - Federal Financial Institution Regulators Announce Availability of 2008 Small Business, Small Farm, and Community Development Lending Data - The four federal banking agency members of the Federal Financial Institutions Examination Council 1 - the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the Office of Thrift Supervision - announced today the availability of data on small business, small farm, and community development lending reported by certain commercial banks and savings institutions, pursuant to the Community Reinvestment Act.  www.ffiec.gov/hmcrpr/cra081409.htm 

August 24, 2009 - NCUA - Deborah Matz Sworn-in as NCUA Chairman.  www.ncua.gov/news/press_releases/2009/MR09-0824.htm 

August 24, 2009 - Economic Activity Improved Further in July - The Chicago Fed National Activity Index was  - 0.74 in July, up from - 1.82 in June. www.chicagofed.org/economic_research_and_data/files/cfnai_august2009.pdf 

August 24, 2009 - Midwest Manufacturing Output Rose in July - The Chicago Fed Midwest Manufacturing Index increased 2.6% in July, to a seasonally adjusted level of 79.7. www.chicagofed.org/economic_research_and_data/files/cfmmi_july_2009.pdf 

August 24, 2009 - One Chicago Suburb's Economy and Development - In a recent blog posting, Chicago Fed economists look at how Waukegan, Ill., has responded to challenges by examining assets, opportunities. http://midwest.chicagofedblogs.org/archives/2009/08/waukegan_econom.html 

August 21, 2009 - OTS Closes Guaranty Bank and Appoints FDIC Receiver - The Office of Thrift Supervision today closed the $13.5 billion Guaranty Bank of Austin, Texas, and appointed the Federal Deposit Insurance Corporation as receiver. www.ots.treas.gov/?p=PressReleases&ContentRecord_id=3e6242fb-1e0b-8562-eb8a-f24b4aa04484&ContentType_id=4c12f337-b5b6-4c87-b45c-838958422bf3

August 21, 2009 - BBVA Compass, Birmingham, Alabama, Assumes All of the Deposits of Guaranty Bank, Austin, Texas - Guaranty Bank, Austin, TX was closed today by the Office of Thrift Supervision, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with BBVA Compass, Birmingham, Alabama, to assume all of the deposits of Guaranty Bank, excluding those from brokers. www.fdic.gov/news/news/press/2009/pr09150.html

August 21, 2009 - IBERIABANK, Lafayette, Louisiana, Assumes All of the Deposits of CapitalSouth Bank, Birmingham, Alabama - CapitalSouth Bank, Birmingham, Alabama, was closed today by the Alabama State Banking Department, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with IBERIABANK, Lafayette, Louisiana, to assume all of the deposits of CapitalSouth Bank, excluding those from brokers. www.fdic.gov/news/news/press/2009/pr09149.html 

August 21, 2009 - United Bank, Zebulon, Georgia, Assumes All of the Deposits of First Coweta, Newnan, Georgia - First Coweta, Newnan, Georgia was closed today by the Georgia Department of Banking and Finance, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with United Bank, Zebulon, Georgia, to assume all of the deposits of First Coweta, excluding those from brokers. www.fdic.gov/news/news/press/2009/pr09148.html 

August 21, 2009 - Chairman Ben S. Bernanke - Reflections on a Year of Crisis - At the Federal Reserve Bank of Kansas City's Annual Economic Symposium, Jackson Hole, Wyoming.  www.federalreserve.gov/newsevents/speech/bernanke20090821a.htm 

August 21, 2009 - Brian F. Madigan, Director, Division of Monetary Affairs - Bagehot's Dictum in Practice: Formulating and Implementing Policies to Combat the Financial Crisis - At the Federal Reserve Bank of Kansas City's Annual Economic Symposium, Jackson Hole, Wyoming.   www.federalreserve.gov/newsevents/speech/madigan20090821a.htm 

August 21, 2009 - Monthly Report on Credit and Liquidity Programs and the Balance Sheet August 2009.   www.federalreserve.gov/monetarypolicy/bst_reportsresources.htm 

August 21, 2009 - Revised Regulation Z Examination Procedures - This letter transmits revised Regulation Z examination procedures that incorporate recent amendments to the Truth in Lending Act. These revised procedures supersede those transmitted with CA 09-4. www.federalreserve.gov/boarddocs/caletters/2009/0907/caltr0907.htm

August 21, 2009 - Stearns Bank, National Association, St. Cloud, Minnesota, Assumes All of the Deposits of ebank Atlanta, Georgia - ebank, Atlanta, Georgia, was closed today by the Office of Thrift Supervision, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Stearns Bank, National Association, St. Cloud, Minnesota, to assume all of the deposits of ebank. www.fdic.gov/news/news/press/2009/pr09147.html 

August 21, 2009 - OTS Closes ebank and Appoints FDIC Receiver - The Office of Thrift Supervision today closed ebank of Atlanta, Georgia, and appointed the Federal Deposit Insurance Corporation as receiver. www.ots.treas.gov/?p=PressReleases&ContentRecord_id=3e59d524-1e0b-8562-eb0a-8f1ab2a7975e&ContentType_id=4c12f337-b5b6-4c87-b45c-838958422bf3 

August 21, 2009 - OCC Enforcement Actions - The Office of the Comptroller of the Currency today released new enforcement actions taken against national banks and individuals currently and formerly affiliated with national banks. www.occ.treas.gov/ftp/release/2009-97.htm 

August 21, 2009 - NCUA - Hyland Urges Continued Collaboration Between State and Federal Regulators; Discusses Key Issues - Speaking to participants at the National Association of State Credit Union Supervisors State System Summit, Board Member Hyland noted, "Over the past four years, NCUA and state supervisors have built a strong, collaborative working relationship. The dialogue and communication must continue as we work through these difficult economic circumstances." www.ncua.gov/news/press_releases/2009/MA09-0821.htm 

August 20, 2009 - And Banking for All? - Michael S. Barr, Jane K. Dokko, and Benjamin J. Keys - This paper presents data from a new survey of low- and moderate-income households in Detroit to examine bank account usage and alternative financial service products. We find that for the vast majority of households, annual outlays on financial services for transactional and credit products are relatively small, around 1 percent of annual income. This estimate is lower than those extrapolated by previous work using the posted fees of financial services alone, suggesting that LMI households do not always choose the most expensive financial services option. www.federalreserve.gov/pubs/feds/2009/200934/index.html
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August 20, 2009 - The Federal Reserve Board on Thursday announced the execution of a Written Agreement by and between Coastal Community Investments, Inc., Panama City Beach, Florida, a registered bank holding company, and the Federal Reserve Bank of Atlanta. www.federalreserve.gov/newsevents/press/enforcement/20090820a.htm

August 19, 2009 - The Federal Reserve Board on Wednesday announced the execution of a Written Agreement by and among Rogers Bancshares, Inc. Little Rock, Arkansas, a registered bank holding company, and the Federal Reserve Bank of St. Louis. www.federalreserve.gov/newsevents/press/enforcement/20090819a.htm 

August 19, 2009 - The Federal Reserve on Wednesday announced a new schedule of margins applicable for collateral pledged by depository institutions to secure discount window and Term Auction Facility loans and for payment system risk purposes. www.federalreserve.gov/newsevents/press/monetary/20090819a.htm 

August 19, 2009 - Interest on Required Reserve Balances and Excess Balances - Maintenance period ending August 19, 2009 - The Federal Reserve Banks pay interest on required reserve balances--balances held at Reserve Banks to satisfy reserve requirements--and on excess balances--balances held in excess of required reserve balances and contractual clearing balances.   www.federalreserve.gov/monetarypolicy/reqresbalances.htm 

August 19, 2009 - Proposed Revisions to Reports of Condition and Income for 2010 - The Federal Deposit Insurance Corporation, the Federal Reserve Board (Board), and the Office of the Comptroller of the Currency are requesting comment on a number of proposed revisions to the Call Report that would take effect in 2010.  www.fdic.gov/news/news/financial/2009/fil09047.html 

August 19, 2009 - OCC Hosts Web and Telephone Seminar on SBA Lending Programs and the American Recovery and Reinvestment Act of 2009 - The Office of the Comptroller of the Currency will host a live Web and telephone seminar that focuses on changes to SBA Lending Programs resulting from the Recovery Act. These loan programs represent opportunities for banks to provide long-term financing to small business customers who would not otherwise be able to find the type of financing that allows them to preserve capital for long-term growth. www.occ.treas.gov/ftp/release/2009-96.htm

August 19, 2009 - OTS Acting Director Bowman to Discuss Thrift Industry Performance in Second Quarter of 2009 - The Office of Thrift Supervision will hold a news briefing at 10 a.m. on Wednesday, August 26, 2009, to release and discuss performance data for federally regulated thrifts for the second quarter of 2009. OTS Acting Director John E. Bowman will conduct the briefing. www.ots.treas.gov/?p=PressReleases&ContentRecord_id=33285ad3-1e0b-8562-ebb0-2dfa438e01e6&ContentType_id=4c12f337-b5b6-4c87-b45c-838958422bf3 

August 19, 2009 - NCUA Regulatory Alert Addresses Impending Disclosure Deadline - The National Credit Union Administration yesterday issued Regulatory Alert 09-RA-07 to all federally insured credit unions concerning Regulation Z amendments implementing provisions of the Credit Card Accountability Act designed to establish fair and transparent practices for open-end consumer credit plans, including credit cards. www.ncua.gov/news/press_releases/2009/MA09-0819.htm

August 18, 2009 - The Federal Reserve Board on Tuesday announced the execution of a Written Agreement by and between WGNB Corp., Carrollton, Georgia, a registered bank holding company, and the Federal Reserve Bank of Atlanta. www.federalreserve.gov/newsevents/press/enforcement/20090818a.htm

August 18, 2009 - The Federal Reserve Board on Tuesday announced the execution of a Written Agreement by and between Leawood Bancshares, Inc., Leawood, Kansas, a registered bank holding company, and the Federal Reserve Bank of Kansas City. www.federalreserve.gov/newsevents/press/enforcement/20090818b.htm 

August 18, 2009 - St. Louis Fed President James Bullard To Discuss Economy, Monetary Policy.  www.stlouisfed.org/newsroom/news_releases/newsrelease.cfm?ArticleID=2F011B75D7DCEEB1A0BB651E4FE47475 

August 18, 2009 - Matz to Assume NCUA Chairmanship August 24 - Deborah Matz will take the oath of office and become the eighth chairman of the National Credit Union Administration Monday, August 24, 2009, at 2 p.m. www.ncua.gov/news/press_releases/2009/MR09-0818.htm

August 17, 2009 - The Federal Reserve Board and the Treasury Department on Monday announced that they approved an extension to the Term Asset-Backed Securities Loan Facility and that, at this time, they do not anticipate any further additions to the types of collateral that are eligible for the facility. www.federalreserve.gov/newsevents/press/monetary/20090817a.htm 

August 17, 2009 - Survey - The July 2009 Senior Loan Officer Opinion Survey on Bank Lending Practices - The July 2009 Senior Loan Officer Opinion Survey on Bank Lending Practices addressed changes in the supply of, and demand for, loans to businesses and households over the past three months. The survey also included two sets of special questions: www.federalreserve.gov/boarddocs/SnLoanSurvey/200908/ 

August 17, 2009 - Statistical Release- Charge-Off and Delinquency Rates on Loans at Commercial Banks - These data are compiled from the quarterly FFIEC Consolidated Reports of Condition and Income. Data for each calendar quarter become available approximately sixty days after the end of the quarter. www.federalreserve.gov/releases/chargeoff/ 

August 17, 2009 - Comptroller of the Currency Hosts Community Bank Directors Workshops in Charlottesville, Virginia - The Office of the Comptroller of the Currency will host workshops for national community bank directors in Charlottesville, Virginia, at the Omni Charlottesville, September 29-30, 2009. www.occ.treas.gov/ftp/release/2009-95.htm 

August 14, 2009 - FDIC Creates a Deposit Insurance National Bank to Facilitate the Resolution of Community Bank of Nevada, Las Vegas, Nevada - Nevada State Bank to Provide Temporary Operational Management - Community Bank of Nevada, Las Vegas, Nevada, was closed today by the State Commissioner, by Order of the Nevada Financial Institutions Division, which then appointed Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC created the Deposit Insurance National Bank of Las Vegas, which will remain open for approximately 30 days to allow depositors access to their insured deposits and time to open accounts at other insured institutions. At the time of closing, the receiver immediately transferred to the DINB all insured deposits of Community Bank of Nevada, except for brokered deposits, certificates of deposit and individual retirement accounts. The receiver also transferred to the DINB all secured public unit deposits. www.fdic.gov/news/news/press/2009/pr09146.html 

August 14, 2009 - MidFirst Bank, Oklahoma City, Oklahoma, Assumes All of the Deposits of Community Bank of Arizona, Phoenix, Arizona - Community Bank of Arizona, Phoenix, Arizona, was closed today by the Arizona Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with MidFirst Bank, Oklahoma City, Oklahoma, to assume all of the deposits of Community Bank of Arizona. www.fdic.gov/news/news/press/2009/pr09145.html 

August 14, 2009 - MidFirst Bank, Oklahoma City, Oklahoma, Assumes All of the Deposits of Union Bank, National Association, Gilbert, Arizona - Union Bank, National Association, Gilbert, Arizona, was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with MidFirst Bank, Oklahoma City, Oklahoma, to assume all of the deposits of Union Bank, National Association, excluding those from brokers. www.fdic.gov/news/news/press/2009/pr09144.html

August 14, 2009 - The four federal banking agency members of the Federal Financial Institutions Examination Council - the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the Office of Thrift Supervision-announced today the availability of data on small business, small farm, and community development lending reported by certain commercial banks and savings institutions, pursuant to the Community Reinvestment Act.  www.ffiec.gov/hmcrpr/cra081409.htm 

August 14, 2009 - OTS Closes Dwelling House and Appoints FDIC Receiver - The Office of Thrift Supervision today closed Dwelling House Savings and Loan Association of Pittsburgh and appointed the Federal Deposit Insurance Corporation as receiver. www.ots.treas.gov/?p=PressReleases&ContentRecord_id=1a952d81-1e0b-8562-eb37-7804ac832675&ContentType_id=4c12f337-b5b6-4c87-b45c-838958422bf3

August 14, 2009 - OCC Appoints Receiver for Union Bank, N.A. - The Office of the Comptroller of the Currency today appointed the Federal Deposit Insurance Corporation as receiver for Union Bank, National Association, Gilbert, Arizona. As of June 30, 2009, the bank had approximately $120 million of total assets. http://www.occ.treas.gov/ftp/release/2009-94.htm 

August 14, 2009 - PNC Bank, National Association, Pittsburgh, Pennsylvania, Assumes All of the Deposits of Dwelling House Savings and Loan Association, Pittsburgh, Pennsylvania www.fdic.gov/news/news/press/2009/pr09142.html 

August 14, 2009 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm 

August 14, 2009 - Statistical Release - G.17 Industrial Production - Industrial production increased 0.5 percent in July. Aside from a hurricane-related rebound in October 2008, the gain in July marked the first monthly increase since December 2007. Manufacturing output advanced 1.0 percent in July; most of the increase was due to a jump in motor vehicle assemblies from an annual rate of 4.1 million units in June to 5.9 million units in July. www.federalreserve.gov/releases/g17/Current/
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August 13, 2009 - The Federal Reserve Board on Thursday announced the execution of a Written Agreement by and between Arizona Bancshares, Inc., Flagstaff, Arizona, a registered bank holding company, and the Federal Reserve Bank of San Francisco. www.federalreserve.gov/newsevents/press/enforcement/20090813b.htm 

August 13, 2009 - The Federal Reserve Board on Thursday announced the execution of a Written Agreement by and among CBS Financial Corporation, Smyrna, Georgia, a registered bank holding company, the Federal Reserve Bank of Atlanta, and the Banking Commissioner of the State of Georgia. www.federalreserve.gov/newsevents/press/enforcement/20090813a.htm 

August 13, 2009 - The Federal Reserve Board on Thursday announced the execution of a Written Agreement by and between CIT Group Inc., New York, New York, a registered bank holding company, and the Federal Reserve Bank of New York. www.federalreserve.gov/newsevents/press/enforcement/20090813c.htm 

August 13, 2009 - Industrial Production and Capacity Utilization: The 2009 Annual Revision - Anne Hall - On March 27, 2009, the Federal Reserve published revisions to its index of industrial production and the related measures of capacity and capacity utilization. The overall contour of total IP is little changed by the revision. Industrial output rose steadily at an average annual rate of 2.3 percent from 2004 through 2007, then fell sharply in 2008 at a rate of negative 6.7 percent. www.federalreserve.gov/pubs/bulletin/2009/pdf/Industrial09.pdf

August 13, 2009 - Helping Families Save Their Homes Act of 2009 - Title VII Tenant Protections: Guidance - OCC offers guidance on tenant protection provisions of Helping Families Save Their Homes Act of 2009. www.occ.treas.gov/ftp/bulletin/2009-28.html

August 13, 2009 - Payments Pricing: Who Bears the Cost? - Chicago Fed Letter explores the debates surrounding the pricing of electronic payment services. www.chicagofed.org/publications/fedletter/cflseptember2009_266a.pdf 

August 12, 2009 - Information received since the Federal Open Market Committee met in June suggests that economic activity is leveling out. Conditions in financial markets have improved further in recent weeks. Household spending has continued to show signs of stabilizing but remains constrained by ongoing job losses, sluggish income growth, lower housing wealth, and tight credit.  www.federalreserve.gov/newsevents/press/monetary/20090812a.htm 

August 12, 2009 - NCUA - Community One FCU Closes, Members Now Served by America First FCU - Members Accounts are Safe and Federally Insured - The National Credit Union Administration yesterday closed Community One Federal Credit Union of Las Vegas, Nevada, and authorized the purchase and assumption of its assets and shares by America First Federal Credit Union of Riverdale, Utah. www.ncua.gov/news/press_releases/2009/MR09-0812.htm 

August 12, 2009 - City-Suburban Population and the Housing Bust - In a recent blog posting, William Testa looks at reasons for the recent rise in urban populations. http://midwest.chicagofedblogs.org/archives/2009/08/central_city_tu.html 

August 11, 2009 - NCUA Issues Prohibition Orders - The National Credit Union Administration Board has issued orders prohibiting the following individuals from participating in the affairs of any federally insured financial institution.  www.ncua.gov/news/press_releases/2009/MR09-0811.htm

August 11, 2009 - The Federal Reserve Board on Tuesday announced the execution of a Written Agreement by and between Camco Financial Corporation, Cambridge, Ohio, a registered bank holding company, and the Federal Reserve Bank of Cleveland. www.federalreserve.gov/newsevents/press/enforcement/20090811a.htm 

August 11, 2009 - On August 10, 2009, the Federal Reserve conducted an auction of $100 billion in 84-day credit through its Term Auction Facility. Following are the results of the auction: www.federalreserve.gov/newsevents/press/monetary/20090811a.htm 

August 10, 2009 - On August 10, 2009, the Federal Reserve will offer $100 billion in 84-day credit through its Term Auction Facility. Additional information regarding the auction is listed below; the auction will be conducted as specified in this announcement, Regulation A, and the terms and conditions of the Term Auction Facility.  www.federalreserve.gov/newsevents/press/monetary/20090810a.htm 

August 10, 2009 - The Federal Reserve Board on Monday published its annual adjustment of the dollar amount of fees that triggers additional disclosure requirements under the Truth in Lending Act for home mortgage loans that bear rates or fees above a certain amount. www.federalreserve.gov/newsevents/press/bcreg/20090810a.htm

August 10, 2009 - Deposit Insurance Coverage - Nationwide Seminars for Bank Officers and Employees - The FDIC will host a series of six seminars for bank officers and employees that will provide comprehensive guidance on how to calculate FDIC deposit insurance coverage for their customers. Each seminar will begin with an approximately 100- minute audio presentation linked to a PowerPoint presentation.   www.fdic.gov/news/news/financial/2009/fil09046.html

August 10, 2009 - Other Consumer Protection Laws and Regulations: New and Revised Examination Procedures - OCC issues revised booklet for "Other Consumer Protection Laws and Regulations," which is part of the Comptroller's Handbook. www.occ.treas.gov/ftp/bulletin/2009-27.html

August 7, 2009 - OCC Appoints Receiver for Community National Bank of Sarasota County - The Office of the Comptroller of the Currency today appointed the Federal Deposit Insurance Corporation as receiver for Community National Bank of Sarasota County, Venice, Florida. As of June 30, 2009, the bank had approximately $92 million of total assets. www.occ.treas.gov/ftp/release/2009-93.htm

August 7, 2009 - Home Federal Bank, Nampa, Idaho, Assumes All of the Deposits of Community First Bank, Prineville, Oregon - Community First Bank, Prineville, Oregon, was closed today by the Oregon Division of Finance & Corporate Securities, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Home Federal Bank, Nampa, Idaho, to assume all of the deposits of Community First Bank, excluding those from brokers. www.fdic.gov/news/news/press/2009/pr09141.html

August 7, 2009 - Stearns Bank, National Association, St. Cloud, Minnesota, Assumes All of the Deposits of Community National Bank of Sarasota County, Venice, Florida - Community National Bank of Sarasota County, Venice, Florida, was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Stearns Bank, National Association, St. Cloud, Minnesota, to assume all of the deposits of Community National Bank of Sarasota County. www.fdic.gov/news/news/press/2009/pr09140.html

August 7, 2009 - Stearns Bank, National Association, St. Cloud, Minnesota, Assumes All of the Deposits of First State Bank, Sarasota, Florida - First State Bank, Sarasota, Florida, was closed today by the Florida Office of Financial Regulation, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Stearns Bank, National Association, St. Cloud, Minnesota, to assume all of the deposits of First State Bank, excluding those from brokers. www.fdic.gov/news/news/press/2009/pr09139.html 

August 7, 2009 - Statistical Release - G.19 Consumer Credit - Consumer credit decreased at an annual rate of 5-1/4 percent in the second quarter. Revolving credit decreased at an annual rate of 8-1/4 percent, and nonrevolving credit decreased at an annual rate of 3-1/2 percent. In June, consumer credit decreased at an annual rate of 5 percent. www.federalreserve.gov/releases/g19/Current/ 

August 7, 2009 - The OCC publishes the updated "Other Consumer Protection Laws and Regulations" booklet, in the Comptroller's Handbook on the Web, incorporating many examination procedures pertaining to consumer protection compliance. www.occ.treas.gov/handbook/other.pdf 

August 7, 2009 - NCUA Board nominee Deborah Matz was confirmed today by the U.S. Senate to a seat on the NCUA three-member Board. As the NCUA chairman designee, Debbie Matz she will be replacing Republican Michael E. Fryzel as chairman. His NCUA Board term expires August 2, 2013. www.ncua.gov/news/press_releases/2009/MA09-0807a.htm
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August 6, 2009 - The Federal Reserve Board on Thursday announced the execution of a Written Agreement by and among, Sterling Banks, Inc., a registered bank holding company, Sterling Bank, a state member bank, both of Mount Laurel, New Jersey, the Federal Reserve Bank of Philadelphia, and the New Jersey Department of Banking and Insurance. www.federalreserve.gov/newsevents/press/enforcement/20090806a.htm 

August 6, 2009 - Homeowners in all regions of the United States are seeing their home equity lines of credit frozen or reduced and wondering what they can do about it. The Federal Reserve's latest "5 Tips" guide explains consumers' rights and lenders' responsibilities when credit lines are reduced and provides information for those seeking to have a credit line reinstated. www.federalreserve.gov/newsevents/press/other/20090806a.htm 

August 6, 2009 - Consumer Information - 5 Tips for Dealing with a Home Equity Line Freeze or Reduction.   www.federalreserve.gov/pubs/heloctips/default.htm

August 6, 2009 - Credit and Liquidity Programs and the Balance Sheet - Collateral and rate setting updates.   www.federalreserve.gov/monetarypolicy/bst_ratesetting.htm 

August 6, 2009 - Reports to the Congress - Annual Report: Budget Review, 2009.   www.federalreserve.gov/BoardDocs/RptCongress/default.htm#br 

August 6, 2009 - Revised FFIEC Lending Examination Procedures and Use of Specialized Examination Techniques - The revised examination procedures reflect significant changes in credit markets, credit products, and credit practices since the procedures were last updated. Specifically, the new procedures clarify examination procedures related to pricing, steering, redlining, broker activity, performing examinations with small sample sizes and data accuracy. www.federalreserve.gov/boarddocs/caletters/2009/0906/caltr0906.htm

August 6, 2009 - Regulation Z - Open-End Consumer Credit Changes - Notice of Immediate and 90-Day Changes - The Credit Card Accountability Responsibility and Disclosure Act of 2009 amended the Truth in Lending Act to establish fair and transparent practices for open-end credit plans, including credit cards. The Federal Reserve Board announced interim final regulations to implement those provisions of the Credit CARD Act that take effect on August 20, 2009. www.fdic.gov/news/news/financial/2009/fil09044.html

August 6, 2009 - Support for Responsible Loss Mitigation Activities Servicers' Obligations to Lienholders on Modifying Loans - The members of the Federal Financial Institutions Examination Council continue to support responsible loss mitigation activities by federal- and state-regulated financial institutions that preserve homeownership. www.fdic.gov/news/news/financial/2009/fil09045.html 

August 6, 2009 - The Federal Financial Institutions Examination Council members today issued the following statement on Support for Responsible Loss Mitigation Activities. The statement reiterates the FFIEC members' continued support for responsible loss mitigation activities designed to preserve homeownership. This support extends to programs designed to achieve sustainable mortgage obligations regardless of lien position.  http://www.ffiec.gov/press/pr080609.htm

August 6, 2009 - New OCC Community Developments Insights Report Focuses on the FHA's 203(k) Home Rehabilitation Financing Program - The Office of the Comptroller of the Currency today published a Community Developments Insights report that provides bankers an overview the FHA's 203(k) Home Rehabilitation Mortgage Insurance Program. www.occ.treas.gov/ftp/release/2009-91.htm 

August 6, 2009 - OCC Issues Statement in Support of Responsible Loss Mitigation Activities - The Office of the Comptroller of the Currency encourages national banks to review the new Federal Financial Institutions Examination Council statement which encourages responsible loan loss mitigation activities aimed at preserving homeownership. www.occ.treas.gov/ftp/release/2009-92.htm 

August 6, 2009 - Flood Disaster Protection Act - Revised Interagency Questions and Answers Regarding Flood Insurance - On July 21, 2009, the Office of the Comptroller of the Currency, along with the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, Office of Thrift Supervision, National Credit Union Administration, and the Farm Credit Administration, published in the Federal Register "Interagency Questions and Answers Regarding Flood Insurance." www.occ.treas.gov/ftp/bulletin/2009-26.html 

August 6, 2009 - Raising Automotive Fuel Efficiency - Chicago Fed Letter examines the challenges of meeting stricter fuel economy standards for new vehicles. www.chicagofed.org/publications/fedletter/cflseptember2009_266.pdf

August 6, 2009 - Potential Influence of the 2001 Preannounced Tax Cuts - A look at the impact of tax cut discussions in 2000 on the recession the following year.  www.chicagofed.org/publications/economicperspectives/ep_3qtr2009_part3_butters_veracierto.pdf 

August 6, 2009 - Investing over the Life Cycle - Article examines aspects of why people of different ages make various investment choices. www.chicagofed.org/publications/economicperspectives/ep_3qtr2009_part2_benzoni_chyruk.pdf 

August 6, 2009 - Impact of Competition in Mortgage Markets - Economist Richard Rosen discusses how competition among lenders influences types of mortgages banks issue. www.chicagofed.org/publications/economicperspectives/ep_3qtr2009_part1_rosen.pdf

August 5, 2009 - The Federal Reserve Board on Wednesday announced that data from its H.4.1 statistical release, "Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks," which includes the weekly publication of the Federal Reserve's balance sheet, is now available through the Data Download Program. www.federalreserve.gov/newsevents/press/other/20090805a.htm 

August 5, 2009 - FDIC Issues List of Banks Examined for CRA Compliance - The Federal Deposit Insurance Corporation today issued its 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 May 2009.  www.fdic.gov/news/news/press/2009/pr09138.html 

August 4, 2009 - The Federal Reserve Board on Tuesday announced the execution of a Written Agreement by and between FCB Financial, Inc., Tampa, Florida, a registered bank holding company, and the Federal Reserve Bank of Atlanta. www.federalreserve.gov/newsevents/press/enforcement/20090804a.htm 

August 4, 2009 - The Federal Reserve Board on Tuesday announced the execution of a Written Agreement by and among Imperial Capital Bancorp, Inc., La Jolla, California, a registered bank holding company, the Federal Reserve Bank of San Francisco, and the State of California Department of Financial Institutions. www.federalreserve.gov/newsevents/press/enforcement/20090804b.htm 

August 4, 2009 - Governor Daniel K. Tarullo - Bank supervision - Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate, Washington, D.C. www.federalreserve.gov/newsevents/testimony/tarullo20090804a.htm 

August 4, 2009 - OCC Supports Regulatory Reform, but Raises Some Concerns - Comptroller of the Currency John C. Dugan told the Senate Banking Committee today that the OCC supports many elements of the Administration's regulatory reform proposal, including the establishment of a council of financial regulators to identify and monitor systemic risk. However, he expressed concern about some aspects of the plan, including weaknesses in the proposal for a Consumer Financial Protection Agency www.occ.treas.gov/ftp/release/2009-90.htm

August 3, 2009 - The Federal Reserve Board on Monday announced the issuance of a Prompt Corrective Action Directive against Warren Bank, Warren, Michigan, a state chartered member bank. www.federalreserve.gov/newsevents/press/enforcement/20090803a.htm 

August 3, 2009 - Allowance for Loan and Lease Losses - When estimating credit losses on each group of loans with similar risk characteristics, an institution should consider its historical loss experience on the group, adjusted for changes in trends, conditions, and other relevant factors in the current economic environment that affect repayment of the loans in the group as of the allowance evaluation date.  www.fdic.gov/news/news/financial/2009/fil09043.html 

 

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