Bank Regulatory News
February 2003
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February 28, 2003 - The
Strength in Consumer Durables and Housing: Policy Stabilization or Problem
in the Making? - Remarks by
Governor Donald L. Kohn - At the Conference on Finance and
Macroeconomics sponsored by the Federal Reserve Bank of San Francisco and
Stanford Institute for Economic Policy Research, San Francisco, California
www.federalreserve.gov/boarddocs/speeches/2003/20030228/default.htm
_______________
February 28, 2003 - The Federal
Reserve Board announced today the approval of the application of The Daiwa
Bank, Limited, Osaka, Japan, to establish a representative office in New
York, New York. www.federalreserve.gov/boarddocs/press/orders/2003/20030228/default.htm
February 28, 2003 - Businesses' Concerns About "Geopolitical
Risk" Seen Delaying Business Fixed Investment, Says St. Louis Fed's
Poole - Current concerns about "geopolitical risk" appear to be
contributing to an incentive for businesses to delay fixed investment,
according to William Poole, president of the Federal Reserve Bank of St.
Louis. www.stlouisfed.org/news/releases/2003/02_28_03.html
February 28, 2003 - List of
Foreign Margin Stocks - The List of Foreign Margin Stocks
consists of foreign equity securities that have met the eligibility
criteria of the Board of Governors of the Federal Reserve System under its
Regulation T and are thus eligible for margin treatment at brokers and
dealers on the same basis as domestic margin securities. www.federalreserve.gov/boarddocs/foreignmargin/
February 27, 2003 - Comptroller Hawke Discusses Basle Capital Framework in
House Testimony - Comptroller of the Currency John D. Hawke, Jr., told a
congressional panel today that while the OCC supports the objectives of
the proposed Basle II capital framework, it is important that regulators
carefully consider industry comments before moving forward.
Press Release: www.occ.treas.gov/newsrelease.asp?Doc=3MSW23TK.xml
Attachment: www.occ.treas.gov/ftp/release/2003-14a.pdf
Attachment: www.occ.treas.gov/ftp/release/2003-14b.pdf
February 27, 2003 - FDIC Makes Public January Enforcement Actions - The
Federal Deposit Insurance Corporation (FDIC) today released a list of
orders of administrative enforcement actions taken against banks and
individuals in January. No administrative hearings are scheduled for
March. www.fdic.gov/news/news/press/2003/pr1503.html
February 27, 2003 - Annual Report
on the Freedom of Information Act for Fiscal Year 2002 - The
following information is submitted to the U.S. Department of Justice by
the Federal Open Market Committee of the Federal Reserve System
in accordance with the requirements of the Freedom of Information
Act (5U.S.C. ' 552), as amended in 1974 by Public Law 93-502. www.federalreserve.gov/generalinfo/foia/fomc_anrpt_2002.htm
February 27, 2003 - Retirement
Savings, Equity Ownership, and Challenges to Investors
- Remarks by
Governor Susan Schmidt Bies At a joint presentation to the National
Economics Club and the Committee on the Status of Women in the Economics
Profession of the American Economic Association, Washington, D.C. www.federalreserve.gov/boarddocs/speeches/2003/20030227/default.htm
February 27, 2003 Statement Of Donald E. Powell Chairman Federal Deposit
Insurance Corporation On The New Basel Accord Before The Subcommittee On
Domestic And International Monetary Policy, Trade, And Technology Of The
Committee On Financial Services U.S. House Of Representatives. http://www.fdic.gov/news/news/press/2003/pr1603.html
February 27, 2003 - Testimony of
Chairman Alan Greenspan - Aging global population - Before
the Special Committee on Aging, U.S. Senate.
www.federalreserve.gov/boarddocs/testimony/2003/20030227/default.htm
www.fdic.gov/news/news/press/2003/pr1603.html
February 27, 2003 - Testimony of
Vice Chairman Roger W. Ferguson, Jr. - Before the Subcommittee on
Domestic and International Monetary Policy, Trade, and Technology,
Committee on Financial Services, U.S. House of Representatives www.federalreserve.gov/boarddocs/testimony/2003/200302272/default.htm
February 26, 2003 - Gilleran Urges Senate Action on Core Deposit Insurance
Reform - Office of Thrift Supervision Director James E. Gilleran urged the
Senate Banking Committee to approve a core federal deposit insurance
reform bill that would merge the Bank Insurance Fund and the Savings
Association Insurance Fund and give the Federal Deposit Insurance
Corporation flexibility in setting deposit insurance premiums. www.ots.treas.gov/docs/77307.html
February 26, 2003 - Kay Kowitt Named Deputy Comptroller for Western
District - The Office of the Comptroller of the Currency announced today
that Kay E. Kowitt has been named Deputy Comptroller for the Western
District. In her new assignment, Ms. Kowitt will report directly to
Timothy W. Long, Senior Deputy Comptroller for Mid-Size/Community Banks. www.occ.treas.gov/newsrelease.asp?Doc=TEA7NHFL.xml
February 26, 2003 - Comptroller Hawke Urges Senate to Reform FDIC
Insurance Fund - Comptroller of the Currency John D. Hawke, Jr., in
testimony today before the Senate Committee on Banking, Housing and Urban
Affairs, said Congress should address a number of flaws in the deposit
insurance system, including several introduced in the last two decades.
Press Release: www.occ.treas.gov/newsrelease.asp?Doc=QGS53QVM.xml
Attachment: www.occ.treas.gov/ftp/release/2003-12a.pdf
Attachment: www.occ.treas.gov/ftp/release/2003-12b.pdf
February 26, 2003 - Charge-Off and
Delinquency Rates on Loans at Commercial Banks - These data are
compiled from the quarterly FFIEC Consolidated Reports of Condition and
Income. www.federalreserve.gov/releases/chargeoff/
February 26, 2003 - 2003 New
Currency Budget - Staff requests that the Board approve the
proposed 2003 new currency budget of $510.3 million www.federalreserve.gov/generalinfo/foia/2003newcurrency.htm
February 26, 2003 - Deposit insurance - Testimony
of Chairman Alan Greenspan Before the Committee on Banking,
Housing, and Urban Affairs, U.S. Senate February 26, 2003 www.federalreserve.gov/boarddocs/testimony/2003/20030226/default.htm
February 25, 2003 - 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 January 15, 2002 through February 14, 2003. The list
contains only national banks and insured federal branches of foreign banks
that have received ratings www.occ.treas.gov/newsrelease.asp?Doc=AUUKJ8SE.xml
February 25, 2003 - OCC Announces 13 New Enforcement Actions OCC
Announces 13 New Enforcement Actions - The Office of the Comptroller of
the Currency today announced 13 new enforcement actions taken against
national banks and individuals currently and formerly affiliated with
national banks. www.occ.treas.gov/newsrelease.asp?Doc=4RMA9JKJ.xml
February 25, 2003 - An Overview of Consumer Data and Credit Reporting -
For some time, the Board of Governors of the Federal Reserve System has
sought to obtain more detailed and timely information on the debt status,
loan payment behavior, and overall credit quality of U.S. consumers. www.federalreserve.gov/pubs/bulletin/2003/03bulletin.htm#feb
February 25, 2003 - Agencies Issue Advisory on Mortgage Banking Activities
- Federal bank and thrift regulatory agencies on Monday jointly issued an
advisory letter discussing risks related to mortgage banking activities.
The letter highlights concerns and provides guidance regarding mortgage
banking activities, primarily in the valuation, accounting, and hedging of
mortgage servicing assets.
Press Release: www.federalreserve.gov/boarddocs/press/bcreg/2003/20030225/default.htm
Press Release: www.federalreserve.gov/BoardDocs/srletters/2003/sr0304.htm
Press Release: www.fdic.gov/news/news/press/2003/pr1403.html
Press Release: www.fdic.gov/news/news/financial/2003/fil0315.html
Press Release: www.occ.treas.gov/ftp/release/2003-09.htm
Attachment: www.occ.treas.gov/ftp/bulletin/2003-9.doc
Attachment: www.occ.treas.gov/ftp/bulletin/2003-9a.pdf
Press Release: www.ots.treas.gov/docs/77306.html
February 24, 2003 - The Federal Reserve Board today announced its approval
of the applications and notice under sections 3 and 4 of the Bank Holding
Company Act related to the proposal by Mizuho Financial Group, Inc.,
Tokyo, Japan to become a bank holding company by acquiring Mizuho
Holdings, Inc., also in Tokyo, and thereby indirectly acquire the U.S.
banking and nonbanking subsidiaries of Mizuho Holdings. www.federalreserve.gov/boarddocs/press/orders/2003/20030224/default.htm
February 24, 2003 - NCUA Chairman
Says Current "One Size Fits All" PCA Ignores Risk Differences,
Suggests Net Worth Ratio Should Be Percentage Of Risk Assets, Not Total
Assets - NCUA
Chairman Dennis Dollar told a national conference of 3000 credit union
leaders here today that the federal "prompt corrective action" (PCA)
law should be considered for possible modification to reflect the
individual risk factors in credit unions, rather than the "one size
fits all" approach presently in the statute. www.ncua.gov/news/press_releases/2003/NR03-0224.htm
February 24, 2003 - Treasury's
Office of Foreign Assets Control has amended its list of Specially
Designated Nationals and Blocked Persons. - On February 12, 2003, the
Department of the Treasury's Office of Foreign Assets Control (OFAC)
amended its list of Specially Designated Nationals and Blocked Persons by
adding OBURSATILES S.A. www.fdic.gov/news/news/financial/2003/fil0314.html
______________
February 21, 2003 - NCUA - Service Uninterrupted as Massachusetts
Credit Union is Placed into Conservatorship by National Credit Union
Administration - The National Credit Union Administration today
assumed control of service and operations at D. Edward Wells Federal
Credit Union in Springfield, Mass. The credit union is in operation and
service continues uninterrupted for its 2600 members. Members can continue
to conduct normal financial transactions - deposit and access funds, make
loan payments and use share drafts (checking). www.ncua.gov/news/press_releases/2003/NR03-0221.htm
February 21, 2003 - OCC Issues Guidelines to National Banks to Guard
Against Abusive Lending Practices; Invites Comments on Request to
Determine that Georgia Law is Preempted - The Office of the Comptroller of
the Currency issued two releases today establishing nationwide guidance to
guard against predatory lending practices among institutions it
supervises. Concurrently, it published for comment a request for an
opinion that a Georgia law concerning predatory lending is preempted
insofar as it might apply to national banks.
Press Release: www.occ.treas.gov/newsrelease.asp?Doc=EMRDRG7D.xml
Attachment: www.occ.treas.gov/ftp/release/2003-08QA.pdf
Attachment: www.occ.treas.gov/ftp/advisory/2003-3.pdf
Attachment: www.occ.treas.gov/ftp/advisory/2003-2.pdf
Attachment: www.occ.treas.gov/ftp/release/2003-08preemptionltr.pdf
February 21, 2003 - Extended Unemployment in
California - California's labor market has not shown much sign of
recovery from the recession that began in 2001. As in the rest of the
nation, employment has remained flat to down, the unemployment rate has
remained at elevated levels, and the jobless are facing increasingly
lengthy spells of unemployment . www.frbsf.org/news/releases/2003/0221.html
February 21, 2003 - Balance Sheets
and the Recovery - Remarks
by Governor Ben S. Bernanke At the 41st Annual Winter Institute,
St. Cloud State University, St. Cloud, Minnesota www.federalreserve.gov/boarddocs/speeches/2003/20030221/default.htm
February 20, 2003 - Gayle P.W. Jackson, managing director of FE Clean
Energy Group, Inc., a global, private equity firm, has been reappointed by
the board of governors of the Federal Reserve System in Washington, D.C.,
to a three-year term on the board of directors of the Federal Reserve Bank
of St. Louis. www.stlouisfed.org/news/assets/pdf/030218-stl.pdf
February 20, 2003 - Scott T. Ford, president and CEO of ALLTEL Corporation
in Little Rock, Ark., has been appointed by the board of governors of the
Federal Reserve System in Washington, D.C., to fill the unexpired portion
of a three-year term on the board of directors of the Little Rock Branch
of the Federal Reserve Bank of St. Louis. www.stlouisfed.org/news/assets/pdf/030218-lr.pdf
February 20, 2003 - Thomas W. Smith, president of Thomas W. Smith &
Associates, Inc., a health care management consulting firm in Danville,
Ky., has been reappointed by the board of directors of the Federal Reserve
Bank of St. Louis to a three-year term on the Louisville Branch board. www.stlouisfed.org/news/assets/pdf/030218-lvl.pdf
February 20, 2003 - Meredith Baird Allen, vice president of the Staple
CottonCooperative Association in Greenwood, Miss., has been appointed by
the board of governorsof the Federal Reserve System in Washington, D.C.,
to a three-year term on the board ofdirectors of the Memphis Branch of the
Federal Reserve Bank of St. Louis. www.stlouisfed.org/news/assets/pdf/030218-mem.pdf
February 20, 2003 - NCUA - Summary
of actions taken at the February 20,2003 Board Meeting www.ncua.gov/news/board_reports/BAB03-0220.pdf
February 19, 2003 - Thrifts Earn Record $11.8 Billion In 2002; Thrift
Assets Grow To $1 Trillion - The thrift industry had back-to-back
record-setting earnings years, the Office of Thrift Supervision reported
today. www.ots.treas.gov/docs/77305.html
February 19, 2003 - National Credit Union Administration - Freedom of
Information Act www.ncua.gov/Ref/Foia/foia.html
February 19, 2003 - Homeland
Security Information Update - Suggested
Guidelines on Protective Measures www.federalreserve.gov/generalinfo/homeland/protectivemeasures.htm
February 19, 2003 - The Federal Reserve Board on Wednesday approved a
final rule amending Regulation B, which implements the Equal Credit
Opportunity Act (ECOA). Among other things, the final rule addresses the
collection of applicants' personal characteristics in connection with
nonmortgage credit and record retention for prescreened solicitations. www.federalreserve.gov/boarddocs/press/bcreg/2003/20030219/default.htm
____________
February 14, 2003 - NCUA - 2002 yearend figures show double-digit growth in savings and assets - The
nation’s federally insured credit unions posted growth in membership,
assets, loans and shares during 2002 according to December 31, 2002,
preliminary call report data. www.ncua.gov/news/press_releases/2003/NR03-0214.htm
February 14, 2003 - Decision Of The Office Of The Comptroller Of The
Currency On The Application To Charter Charles Schwab Bank, National
Association, Reno, Nevada www.occ.treas.gov/foia/Schwab%20Dec%20Stmt%20as%20of%202-4-03%20FINAL.pdf
February 14, 2003 - FDIC Names Chief Economist And Chief Accountant - The
Federal Deposit Insurance Corporation today announced that Richard A.
Brown of the Division of Insurance and Research and Robert F. Storch of
the Division of Supervision and Consumer Protection have been named the
Corporation's Chief Economist and Chief Accountant, respectively. www.fdic.gov/news/news/press/2003/pr1303.html
February 14, 2003 - Industrial
Production And Capacity Utilization - Industrial production rose
0.7 percent in January. The increase more than reversed December's revised
decline of 0.4 percent. At 111.1 percent of the 1997 average, output was
2.0 percent above its level in January 2002. www.federalreserve.gov/Releases/G17/Current/default.htm
February 14, 2003 - The Federal Reserve Board announced Friday that the
Consumer Advisory Council will hold its next meeting on Thursday, March
13. The meeting will take place in Dining Room E, Terrace level, in the
Board's Martin Building. The session will begin at 9:00 a.m. and is open
to the public. www.federalreserve.gov/boarddocs/press/other/2003/20030214/default.htm
February 13, 2003 - OCC
2003-8, Rules, Policies, and Procedures for Corporate Activities; Bank
Activities and Operations; and Real Estate Lending and Appraisals: Notice
of Proposed Rulemaking, www.occ.treas.gov/ftp/bulletin/2003-8.txt
February 13, 2003 - The Federal Reserve Board today announced the issuance
of a Final Decision and Order of Prohibition against Marian L. Butler, a
former employee of CoreStates Financial (now First Union), Philadelphia,
Pennsylvania. www.federalreserve.gov/boarddocs/press/Enforcement/2003/200302132/default.htm
February 13, 2003 - The Federal Reserve Board today announced the issuance
of a Final Decision and Order of Prohibition against Cynthia Rowe, a
former employee of Key Bank, N.A., Cleveland, Ohio. www.federalreserve.gov/boarddocs/press/Enforcement/2003/20030213/default.htm
February 13, 2003 - NCUA - Letter
to Credit Union - Loan Charge-off Guidance- 03-CU-01.
Press release: http://www.ncua.gov/Ref/letters/2003/03-CU-01.pdf
Enclosure: http://www.ncua.gov/Ref/letters/2003/03-CU-01Encl.pdf
February 13, 2003 - NCUA - Opinion
Letter - 03-0105 - Credit Enhancements as a Permissible Activity For
Credit Union Service Organizations www.ncua.gov/Ref/opinion_letters/2003_letters/03-0105.htm
February 13, 2003 - NCUA - Opinion
Letter - 03-0106 -Election Procedures www.ncua.gov/Ref/opinion_letters/2003_letters/03-0106.htm
February 13, 2003 - Public Welfare Investments - Proposed Rule - The
attached notice of proposed rulemaking (NPRM), which would amend 12 CFR
24, the OCC’s rules governing public welfare investments by national
banks, was published in the Federal Register on January 10, 2003.
Press release: www.occ.treas.gov/ftp/bulletin/2003-7.txt
Attachment: http://www.occ.treas.gov/fr/fedregister/68fr1394.pdf
February 13, 2003 - FDIC Adopts Final Rule on Federal Deposit Insurance
Eligibility for State Banks Chartered as Limited Liability Companies (Part
303 of FDIC's Rules and Regulations) - new amendment to Part 303 of the
FDIC's Rules and Regulations clarifies that a state bank that is chartered
as a limited liability company could be considered
"incorporated" for the purposes of being eligible for federal
deposit insurance. www.fdic.gov/news/news/financial/2003/fil0313.html
February 12, 2003 - Rules and
Flexibility in Monetary Policy - Remarks
by Vice Chairman Roger W. Ferguson, Jr. At the University of
Georgia, Athens, Georgia www.federalreserve.gov/boarddocs/speeches/2003/20030212/default.htm
February 12, 2003 - NCUA To Participate In White House Conference On
Faith-Based And Community Initiatives - NCUA Chairman Dennis Dollar announced today that the National Credit
Union Administration will participate in the White House Conference on
Faith-Based and Community Initiatives on Tuesday, February 18, in San
Diego, California. www.ncua.gov/news/press_releases/2003/ADV03-0212.htm
February 12, 2003 - New Information Security Guidance for Examiners and
Financial Institutions - The Federal Financial Institutions Examination
Council (FFIEC) has issued a booklet with revised guidance for identifying
institutions' information security risks and evaluating their
risk-management practices. www.fdic.gov/news/news/financial/2003/fil0311.html
February 11, 2003 - Prohibition Against Use of Interstate Branches
Primarily for Deposit Production
- The Federal Reserve Board, the Office of the Comptroller of
the Currency, and the Federal Deposit Insurance Corporation, jointly
issued a final rule, effective October 10, 1997, that adopted uniform
regulations1 implementing section 109 of the Riegle-Neal Interstate Banking
and Branching Efficiency Act of 1994
Press Release: www.occ.treas.gov/ftp/bulletin/2003-6.txt
Attachment: www.occ.treas.gov/ftp/bulletin/2003-6a.pdf
February 11, 2003 - NCUA - National
Credit Union Administration Policy on Sponsoring National Communications
System Programs January 13, 2003 - The National
Communications System was established in 1963 to provide priority
communications support to critical government functions during
emergencies. www.ncua.gov/FBIIC/Policy/P-011303.htm
February 11, 2003 - NCUA - Assist with Taxes, Educate Members on Earned
Income Tax Credit, Matz Advises Credit Unions - $30 Billion Available to
Low-Income Workers www.ncua.gov/news/press_releases/2003/NR03-0211.htm
February 11, 2003 - Banker Version of "EDIE" - the Electronic
Deposit Insurance Estimator - Now Available to Download From the FDIC's
Web site - The FDIC is releasing the new banker version of EDIE in a
downloadable format that financial institutions may load directly onto
their networks. www.fdic.gov/news/news/financial/2003/fil0310.html
February 11, 2003 - U. S. Treasury to Reinstate USA PATRIOT Act Section
314(a) Information Requests - On November 26, 2002, the Treasury
Department announced a brief moratorium on information requests related to
Section 314(a) of the USA PATRIOT Act.
Section 314(a) authorizes law enforcement authorities to
communicate with banking organizations and financial institutions about
suspected money launderers and terrorists. www.federalreserve.gov/BoardDocs/srletters/2003/sr0303.htm
www.federalreserve.gov/boarddocs/SRLETTERS/2003/sr0303.htm
www.ncua.gov/news/press_releases/2003/NR03-0211-2.htm
February 11, 2003 - Monetary Policy Report to the Congress Submitted
pursuant to section 2B of the Federal Reserve Act February 11, 2003 www.federalreserve.gov/BoardDocs/HH/2003/february/FullReport.txt
February 11, 2003 - Financial
Markets and Corporate Governance in the United States and Other Countries
- Remarks by Governor Susan
Schmidt Bies At Thunderbird, The American Graduate School of
International Management, Glendale, Arizona February 11, 2003 www.federalreserve.gov/boarddocs/speeches/2003/20030211/default.htm
February 11, 2003 - Testimony of
Chairman Alan Greenspan Federal Reserve Board's semiannual
monetary policy report to the Congress Before the Committee on
Banking, Housing, and Urban Affairs, U.S. Senate February 11, 2003 www.federalreserve.gov/boarddocs/hh/2003/february/testimony.htm
February 10, 2003 - Removal, Suspension, and Debarment of Accountants from
Performing Annual Audit Services - The attached proposed rule concerns the
removal, suspension, and debarment of accountants from performing annual
audit and attestation services. The
proposal was published in the Federal Register on January 8, 2003. www.occ.treas.gov/ftp/bulletin/2003-5.txt
February 10, 2003 - NCUA - Home
Mortgage Disclosure Act - The purpose of this regulatory
alert is to inform you of the annual Home Mortgage Disclosure Act
reporting threshold. www.ncua.gov/Ref/reg_alerts/2003/03-RA-02.htm
February 10, 2003 - NCUA - Board Member Encourages Credit Unions to Grow
Membership by Serving Oft-Overlooked Group - National Credit Union
Administration Board Member Deborah Matz addressed the annual
legislative/regulatory forum of the Tennessee Credit Union League here
today, lauding “creative initiatives” by credit unions and suggesting
the not-for-profit cooperatives consider targeting senior citizens for
membership. www.ncua.gov/news/press_releases/2003/NR03-0207.htm
______________
February 7, 2003 - The Board of Directors of the Federal Deposit Insurance Corporation (FDIC) today approved the assumption of the insured deposits of Southern Pacific Bank, Torrance, California, by Beal Bank,
S.S.B., Plano, Texas.
http://www.fdic.gov/news/news/press/2003/pr1103.html
February 7, 2003 - Two revised booklets of the Comptroller's Licensing Manual
series, "Public Notice and Comment" and "Changes in Directors and
Senior Executive Officers" are available on the OCC’s Internet site.
Public Notice and Comment's title was changed from “Public Involvement” as
it is more descriptive of the contents. These booklets update and replace the
previous 1998 version. www.occ.treas.gov/corpbook/group1/public/pdf/PublicNCbooklet.pdf
February 7, 2003 - Lifting of Moratorium on FinCEN 314(a) Information Requests -
On November 26, 2002, the Financial Crimes Enforcement Network of the U.S.
Treasury Department and law enforcement agencies imposed a moratorium on
requests covered by Section 314(a)of the USA PATRIOT Act. www.occ.treas.gov/ftp/alert/2003-2.txt
February 7, 2003 - The Federal Reserve Board on Friday issued an interpretation
concerning securities underwriting by banking organizations that are subject to
the Bank Holding Company Act. www.federalreserve.gov/boarddocs/press/bcreg/2003/20030207/default.htm
February 7, 2003 - Evaluation of Real GDP Forecasts Featured in Latest Economic
Perspectives - The new issue of Economic Perspectives released
recently by the Chicago Fed highlights recent research. www.chicagofed.org/newsandevents/pressreleases/2003/pr02072003.cfm
February 6, 2003 - The second conference organized by the International Research
Forum on Monetary Policy will be held at the Federal Reserve Board on November
14–15, 2003. www.federalreserve.gov/events/conferences/irfmp2003/
February 6, 2003 - The Federal Reserve Board on Friday released the minutes of
its discount rate meetings from November 18 to December 9, 2002. www.federalreserve.gov/boarddocs/press/monetary/2003/20030207/default.htm
February 6, 2003 - Finance and Economics
Discussion Series What's Happened
at Divested Bank Offices? An Empirical Analysis of Antitrust Divestitures in
Bank Mergers www.federalreserve.gov/pubs/feds/2002/200260/200260abs.html
February 6, 2003 - The
Gramm-Leach-Bliley Act and Corporate Misbehavior--Coincidence or Contributor? - Remarks
by Governor Mark W. Olson At the conference on the implementation of the
Gramm-Leach-Bliley Act, American Law Institute and the American Bar Association,
Washington, D.C. www.federalreserve.gov/boarddocs/speeches/2003/20030206/default.htm
February 6, 2003 - Federal Reserve Banks Announce Check Restructuring - The
Federal Reserve Bank of Kansas City, in conjunction with the other Reserve Banks
throughout the nation, today announced a streamlining of check-processing
services that will result in the shifting of the check-processing operation at
its Omaha, Neb. branch office to Des Moines and its check-adjustment activity to
Detroit. www.kc.frb.org/pubaffrs/pressrel/pr03-04.htm
www.federalreserve.gov/boarddocs/press/other/2003/20030206/default.htm
February 6, 2003 - Federal Reserve Banks
Announce Changes to Increase Efficiency In Check Services as Check Volumes
Decline Nationwide - The Federal Reserve Banks, collectively the nation’s
largest processor of checks, today announced changes to their back office
check-processing operations intended to improve operating efficiency while
maintaining high-quality check services to depository institutions nationwide. www.stlouisfed.org/news/assets/pdf/030206.pdf
February 5, 2003 - OCC - FFIEC Information Security Booklet - The Federal
Financial Institutions Examination Council (FFIEC) has released updated
information security guidance in the form of a new Information Security Booklet.
Press Release: www.occ.treas.gov/ftp/bulletin/2003-4.txt
Attachment: www.ffiec.gov/ffiecinfobase/index.html
Attachment: www.ffiec.gov/ffiecinfobase/html_pages/it_01.html
February 5, 2003 - National Credit Union Administration Issues Prohibition Order
Against Arkansas Credit Union Official - The National Credit Union
Administration (NCUA) has issued an Order of Prohibition against Dean Mangum,
former president of UARK Federal Credit Union of Fayetteville, Ark. www.ncua.gov/news/press_releases/2003/NR03-0205.htm
February 5, 2003 - NCUA Chairman Dennis Dollar’s Statement Regarding the
President’s Budget - National Credit Union Administration Board Chairman
Dennis Dollar issued the following statement today regarding the President’s
2004 Budget. www.ncua.gov/news/press_releases/2003/Stmt03-0204.htm
February 5, 2003 - Unauthorized Banking - Allied Boston Bank, Inc., Banking
License Denial, Republic of Palau - The Financial Institutions Commission,
Republic of Palau, has advised the OCC that Allied Boston Bank, Inc. was denied
an application for a banking license on September 30, 2002. www.occ.treas.gov/ftp/alert/2003-1.txt
February 5, 2003 - FDIC Issues February 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 November 2002. www.fdic.gov/news/news/press/2003/pr1003.html
February 5, 2003 - September 11, the
Federal Reserve, and the Financial System - Remarks by Vice Chairman Roger W. Ferguson, Jr.
At Vanderbilt University, Nashville, Tennessee
February 5, 2003 www.federalreserve.gov/boarddocs/speeches/2003/20030205/default.htm
February 5, 2003 - The Federal Reserve Board on Wednesday announced the
execution of a Written Agreement by and between Premier Financial Bancorp, Inc.,
Huntington, West Virginia, and the Federal Reserve Bank of Cleveland.
www.federalreserve.gov/boarddocs/press/Enforcement/2003/20030205/default.htm
February 4, 2003 - Annual Report on the
Freedom of Information Act for
Fiscal Year 2002 - The following information is submitted to the U.S.
Department of Justice by the Board of Governors of the Federal Reserve System
(Board) in accordance with the requirements of the Freedom of Information Act (5
U.S.C. § 552(e)) (FOIA), as amended. www.federalreserve.gov/generalinfo/foia/anrpt_2002.htm
February 3, 2003 - Pennsylvania Man Indicted On Charges Of Making False
Statements To The RTC - FDIC
Inspector General Gaston L. Gianni, Jr., has announced that a federal grand jury
in Philadelphia has returned an indictment against Gerald L. Katzoff of
Morrisville, PA, charging him with four counts of making false statements to the
Resolution Trust Corporation in violation of 18 U.S.C. § 1014. www.fdic.gov/news/news/press/2003/pr0903.html
February 3, 2003 - Remarks by Governor
Ben S. Bernanke Before the Money Marketeers of New York University, New
York, New York February 3, 2003 www.federalreserve.gov/boarddocs/speeches/2003/20030203/default.htm
February 3, 2003 - FDIC Joins National Organizations In Sponsoring Fifth Annual
National Consumer Protection Week www.fdic.gov/news/news/press/2003/pr0803.html
February 3, 2003 - FDIC Makes Public December Enforcement Actions; No
Administrative Hearings Scheduled - The Federal Deposit Insurance
Corporation (FDIC) today released a list of orders of administrative enforcement
actions taken against banks and individuals in December. No administrative
hearings are scheduled for February www.fdic.gov/news/news/press/2003/pr0703.html
February 3, 2003 - Under the Bank Holding Company Act, bank holding companies
may elect to be financial holding companies. Following is a list of those
companies whose elections to become or be treated as financial holding companies
are effective. The list includes only the top-tier holding company in each
organization www.federalreserve.gov/generalinfo/fhc/default.htm
February 3, 2003 - Foreign Exchange Rates - The Table Below Shows The Average
Rates Of Exchange In January 2003 Together With Comparable Figures For Other
Months. Averages Are Based On Daily Noon Buying Rates For Cable Transfers In New
York City Certified For Customs Purposes By The Federal Reserve Bank Of New York
www.federalreserve.gov/Releases/G5/Current/default.htm
February 1, 2003 - Presidents of the
Federal Reserve Banks - Sandra
Pianalto President, Federal Reserve Bank of Cleveland - Ms. Pianalto took
office on February 1, 2003, as the tenth chief executive of the Fourth District
Federal Reserve Bank, at Cleveland www.federalreserve.gov/bios/pres04.htm
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