Bank Regulatory Agencies

Bank Regulatory News

February 2006

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February 28, 2006 - NCUA - Vice Chairman Hood's Remarks to the Credit Union National Association 2006 Governmental Affairs Conference.   www.ncua.gov/news/speeches/speechesHood.htm

February 28, 2006 - NCUA - Board Member Hyland's Remarks to the Credit Union National Association 2006 Governmental Affairs Conference.   www.ncua.gov/news/speeches/2006/Hyland/GACHyland.pdf

February 28, 2006 - FDIC Issues Second Quarter 2006 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 second quarter of 2006. 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/2006/pr06021.html

February 28, 2006 - The Federal Reserve Board on Tuesday released the minutes of its discount rate meetings from January 9 through January 31, 2006. www.federalreserve.gov/boarddocs/press/monetary/2006/20060228/default.htm

February 28, 2006 - Bank and Thrift Earnings Set Fifth Consecutive Record in 2005: FDIC also announces longest span without assistance to a failed or failing institution - Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation reported net income of $134.2 billion in 2005, surpassing the previous record by $11.8 billion (9.6 percent) set in 2004 and representing the fifth consecutive year that industry earnings reached a new high. www.fdic.gov/news/news/press/2006/pr06022.html

February 27, 2006 - NCUA - Chairman Johnson's Remarks to the Credit Union National Association 2006 Governmental Affairs Conference.   www.ncua.gov/news/speeches/2006/Johnson/2006GAC.pdf

February 27, 2006 - NCUA - The NCUA February/March Newsletter is available. www.ncua.gov/news/newsletter/NCUA/06FebMarch.pdf

February 27, 2006 - The Federal Reserve Board on Monday announced the approval of a final rule that expands the definition of a small bank holding company (BHC) under the Board's Small Bank Holding Company Policy Statement and the Board's risk-based and leverage capital guidelines for bank holding companies. www.federalreserve.gov/BoardDocs/Press/bcreg/2006/20060227/default.htm

February 27, 2006 - CRA Consideration For Community Development Activities In Hurricanes Rita And Katrina Disaster Areas - State member banks have requested guidance concerning the availability of Community Reinvestment Act consideration for bank activities that help revitalize or stabilize the disaster areas designated by the President due to Hurricanes Rita and Katrina. Specifically, banks have asked whether their activities that assist the disaster areas are eligible for CRA consideration if the disaster areas are outside the banks' assessment area. www.federalreserve.gov/BoardDocs/caletters/2006/0605/caltr0605.htm

February 27, 2006 - The Federal Reserve Board on Monday announced the approval of a final rule that expands the definition of a small bank holding company (BHC) under the Board's Small Bank Holding Company Policy Statement and the Board's risk-based and leverage capital guidelines for bank holding companies. www.federalreserve.gov/boarddocs/press/bcreg/2006/20060227/default.htm

February 24, 2006 - Chairman Ben S. Bernanke - The Benefits of Price Stability At The Center for Economic Policy Studies and on the occasion of the Seventy-Fifth Anniversary of the Woodrow Wilson School of Public and International Affairs, Princeton University, Princeton, New Jersey.   www.federalreserve.gov/boarddocs/speeches/2006/200602242/default.htm

February 24, 2006 - NCUA to Host Access Across America Economic Empowerment Summit in Dallas, Texas on April 12 - National Credit Union Administration Chairman JoAnn Johnson announced today that the agency will sponsor the first Access Across America Economic Empowerment Summit of 2006 at the Omni Mandalay Hotel at Las Colinas in Dallas on April 12. Registration opens at 8:00am and the programs will begin at 9:00am. www.ncua.gov/news/press_releases/2006/NR06-0224.htm

February 24, 2006 - FRB Statistical Release G.20 Finance Companies. www.federalreserve.gov/Releases/G20/Current/default.htm

February 24, 2006 - Federal Regulators Release Summary Findings of the Fourth Quantitative Impact Study - The federal bank and thrift regulatory agencies today announced the publication of the Summary Findings of the Fourth Quantitative Impact Study.
Press Release: www.federalreserve.gov/boarddocs/press/bcreg/2006/20060224/default.htm
Press Release: www.occ.treas.gov/toolkit/newsrelease.aspx?JNR=1&Doc=MLFXARWX.xml
Press Release: www.fdic.gov/news/news/press/2006/pr06020.html

February 24, 2006 - The Federal Reserve Board on Friday announced its approval of the application under section 3 of the Bank Holding Company Act by Sky Financial Group, Inc., Bowling Green, to acquire up to 9.99 percent of the voting shares of LNB Bancorp, Inc., Lorain, both of Ohio. www.federalreserve.gov/boarddocs/press/orders/2006/20060224/default.htm

February 24, 2006 - Federal Reserve "Transparency" More Than Just "Opening Up," Says St. Louis Fed's Poole - Federal Reserve communications issues are often discussed under the term "transparency," said William Poole, president of the Federal Reserve Bank of St. Louis. "What, literally, does 'transparency' mean? www.stlouisfed.org/news/releases/2006/02_24_06.htm

February 24, 2006 - Kevin M. Warsh on Friday took the oath of office as a member of the Board of Governors of the Federal Reserve System. The oath was administered by Vice President Cheney in the Vice President's Ceremonial Office in the Eisenhower Executive Office Building. www.federalreserve.gov/boarddocs/press/other/2006/20060224/default.htm

February 24, 2006 - Vice Chairman Roger W. Ferguson, Jr. - The Importance of Education - At the commemoration of Black History Month, The Johns Hopkins University Applied Physics Laboratory, Laurel, Maryland.   www.federalreserve.gov/boarddocs/speeches/2006/20060224/default.htm

February 23, 2006 - Vice Chairman Roger W. Ferguson, Jr. Globalization, Insurers, and Regulators: Shared Challenges Call for Collaborative Solutions To the National Association of Insurance Commissioners International Insurance Symposium, Washington, D.C. www.federalreserve.gov/boarddocs/speeches/2006/20060223/default.htm

February 23, 2006 - Federal Reserve Bulletin Article - Recent Changes in U.S. Family Finances: Evidence from the 2001 and 2004 Survey of Consumer Finances. www.federalreserve.gov/Pubs/Bulletin/default.htm
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February 23, 2006 - Risk-Based Capital--Securities Borrowing Transactions - This bulletin transmits a final rule on the risk-based capital treatment of securities borrowing transactions in which the borrower of the security posts cash collateral.
Press Release: www.occ.treas.gov/ftp/bulletin/2006-9.txt
Attachment: www.occ.treas.gov/fr/fedregister/71fr8932.pdf

February 23, 2006 - OCC Highlights the Benefits of a Small Business Loan Program - The Office of the Comptroller of the Currency today released a new Community Developments Insights report, "SBA 504 Loan Program: Small Businesses' Window to Wall Street," which highlights the Small Business Administration's 504 loan program and how banks may team up with certified development companies to make loans for long-term assets and promote economic development. www.occ.treas.gov/toolkit/newsrelease.aspx?Doc=I1ZOMZXU.xml

February 23, 2006 - FDIC to Hold Two Hearings on The Federal Deposit Insurance Application of The Proposed Wal-Mart Bank The April hearings will be held in the Washington, D.C., and Kansas City, Missouri areas - The Federal Deposit Insurance Corporation has scheduled public hearings in April in the Washington, D.C. area, and the Kansas City, Missouri, metro area on the application for federal deposit insurance filed on behalf of the proposed Wal-Mart Bank. www.fdic.gov/news/news/press/2006/pr06019.html

February 23, 2006 - NCUA - Letter to Credit Unions 06-CU-02 - CDRLF - 2006 Technical Assistance Grant Program.   www.ncua.gov/letters/2006/CU/06-CU-02.pdf

February 23, 2006 - NCUA Announces 2006 CDRLF Loan and Grant Program - National Credit Union Administration Chairman JoAnn Johnson today announced the 2006 Community Development Revolving Loan Fund Technical Assistance Grant Program. www.ncua.gov/news/press_releases/2006/NR06-0223-2.htm

February 23, 2006 - NCUA - Walters Named NCUA Deputy Executive Director - The National Credit Union Administration Board approved the reassignment of Region IV Director Jane A. Walters to be NCUA deputy executive director, assisting the executive director in managing the daily operation of the agency. www.ncua.gov/news/press_releases/2006/NR06-0223.htm

February 23, 2006 - FRB Statistical Release - Charge-Off and Delinquency Rates on Loans at Commercial Banks.   www.federalreserve.gov/Releases/ChargeOff/default.htm

February 23, 2006 - Federal Reserve Bulletin Article - Recent Changes in U.S. Family Finances: Evidence from the 2001 and 2004 Survey of Consumer Finances.   www.federalreserve.gov/Pubs/Bulletin/default.htm

February 23, 2006 - Vice Chairman Roger W. Ferguson, Jr. - Globalization, Insurers, and Regulators: Shared Challenges Call for Collaborative Solutions To the National Association of Insurance Commissioners International Insurance Symposium, Washington, D.C. www.federalreserve.gov/boarddocs/speeches/2006/20060223/default.htm

February 22, 2006 - Bank Secrecy Act/Anti-Money LaunderingDescription: U.S. Money Laundering Threat Assessment - On January 11, 2006, the first U.S. government-wide analysis of money laundering, "U.S. Money Laundering Threat Assessment", published by the Treasury Department, was released. www.occ.treas.gov/ftp/bulletin/2006-8.txt

February 22, 2006 - NCUA - Regulatory Alert 06-RA-02 - Submission of 2005 data to comply with the Home Mortgage Disclosure Act.   www.ncua.gov/reg_alerts/2006/06-RA-02.pdf

February 22, 2006 - NCUA - Credit Unions Exhibit Strong Loan Growth in 2005 - The nation's federally insured credit unions reported strong loan growth as delinquencies remained low according to fourth quarter 2005 Call Report data submitted by the nation's 8,695 federally insured credit unions. www.ncua.gov/news/press_releases/2006/NR06-0222.htm

February 22, 2006 - Fair Credit Reporting Act Revised Examination Procedures - The Federal Financial Institution Examinations Council Task Force on Consumer Compliance has approved the attached revised Fair Credit Reporting Act examination procedures, which incorporate the new requirements created by the Fair and Accurate Credit Transactions Act of 2003. www.fdic.gov/news/news/financial/2006/fil06018.html

February 22, 2006 - Capital StandardsJoint Final Rule on Securities Borrowing Transactions - The FDIC, along with the Federal Reserve Board and the Office of the Comptroller of the Currency, has issued the attached joint final rule clarifying the capital treatment for securities borrowing transactions for banks and bank holding companies that are subject to the Market Risk Capital Rule. Securities borrowing transactions are generally used in conjunction with short sales, securities fails, and option and arbitrage positions. The final rule takes effect on February 22, 2006. www.fdic.gov/news/news/financial/2006/fil06017.html

February 22, 2006 - Roger W. Ferguson, Jr., submitted his resignation Wednesday as Vice Chairman and as a member of the Board of Governors of the Federal Reserve System, effective April 28, 2006. www.federalreserve.gov/boarddocs/press/other/2006/20060222/default.htm

February 21, 2006 - NCUA soliciting public comment relating to pilot program for measuring service to members.   www.ncua.gov/news/press_releases/2006/NR06-0221.htm

February 21, 2006 - The Federal Reserve Board and the Federal Open Market Committee on Tuesday released the attached minutes of the Committee meeting held on January 31, 2006. www.federalreserve.gov/boarddocs/press/monetary/2006/20060221/default.htm

February 17, 2006 - The Greenspan Era: Lessons For The Future - During Alan Greenspan's years as chairman of the Board of Governors of the Federal Reserve System, the global economy experienced significant structural change and withstood a variety of financial and economic shocks. In addition to helping steer the global economy through such challenges, Chairman Greenspan was at the center of discussions about monetary policy ideas and issues. www.kc.frb.org/pubaffrs/pressrel/pr06-6.htm

February 17, 2006 - Longer-Term Perspectives On The Yield Curve And Monetary Policy - In contrast to "conventional wisdom," long-term interest rates did not rise as the Federal Reserve raised the federal funds rate target in a series of moves starting in the spring of 2004. Federal Reserve Chairman Alan Greenspan called the behavior of long-term rates a "conundrum," and considerable effort has been made to understand the causes of the conundrum and its implications for monetary policy. www.kc.frb.org/pubaffrs/pressrel/pr06-5.htm

February 17, 2006 - Why Have Recent U.S. Recoveries Been Jobless? - After two straight jobless recoveries, analysts are still trying to understand this new phenomenon. So far, their explanations fail to answer why both recoveries were jobless. www.kc.frb.org/pubaffrs/pressrel/pr06-4.htm

February 17, 2006 - Does Immigration Reduce Imbalances Among Labor Markets Or Increase Them? Evidence From Recent Migration Flows - Immigration has increased dramatically in recent years, renewing concerns about the impact of immigration on the economy. www.kc.frb.org/pubaffrs/pressrel/pr06-3.htm

February 17, 2006 - Banking Structure - Financial Holding Companies - 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 company in each organization. www.federalreserve.gov/generalinfo/fhc/default.htm

February 17, 2006 - FRB Statistical Release - U.S. Reserve Assets; Foreign Official Assets Held at Federal Reserve Banks. www.federalreserve.gov/releases/bulletin/0106assets.htm

February 17, 2006 - NCUA - Union Pacific Streamliner Federal Credit Union Placed Into Conservatorship - The National Credit Union Administration has assumed control of the operations at Union Pacific Streamliner Federal Credit Union of Omaha, Neb., with the goal of continuing credit union service to its members and ensuring a safe, sound credit union operation. www.ncua.gov/news/press_releases/2006/MR06-0217.htm

February 17, 2006 - NCUA - President Bush Enacts Deposit Insurance Reform - President George W. Bush recently signed into law two related pieces of legislation that amend the share insurance coverage provided by National Credit Union Administration through the National Credit Union Share Insurance Fund and the deposit insurance coverage provided by the Federal Deposit Insurance Corporation.   www.ncua.gov/news/press_releases/2006/NR06-0217.htm

February 17, 2006 - Federal Financial Regulatory Agencies Extend Comment Period on Nontraditional Mortgage Products - The federal financial regulatory agencies today extended the comment period on the proposed guidance on nontraditional residential mortgage products.
Press Release: www.federalreserve.gov/boarddocs/press/bcreg/2006/20060217/default.htm
Press Release: www.fdic.gov/news/news/press/2006/pr06018.html
Press Release: www.occ.treas.gov/toolkit/newsrelease.aspx?JNR=1&Doc=6MGLFYQO.xml
Press Release: www.ots.treas.gov/docs/7/776006.html
Press Release: www.ncua.gov/news/press_releases/2006/JR06-0217.pdf
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February 16, 2006 - OCC Announces New Electronic Interpretations and Actions - February 2006. www.occ.treas.gov/interp/feb06/intfeb06.htm

February 16, 2006 - Comptroller Dugan Issues Statement on Meeting with Realtors - Comptroller of the Currency John C. Dugan issued the following statement today following a meeting with representatives of the National Association of Realtors. www.occ.treas.gov/toolkit/newsrelease.aspx?Doc=WQCBVP8D.xml

February 16, 2006 - Inflation Target Could Increase Effectiveness of Federal Reserve's Monetary Policy: St. Louis Fed's Poole - The case for the Federal Open Market Committee's adopting a specific target for inflation is that it should help avoid future inflation and increase the effectiveness of monetary policy in times of low inflation. www.stlouisfed.org/news/releases/2006/02_16_06.htm

February 15, 2006 - NCUA General Counsel Opinion 05-1219 - Cash Flow as Collateral for Member Business Loans.   www.ncua.gov/RegulationsOpinionsLaws/opinion_letters/2005/05-1219.pdf

February 15, 2006 - NCUA General Counsel Opinion 05-1232 - Application of Member Business Loan Rule to Commercial Vehicle.   www.ncua.gov/RegulationsOpinionsLaws/opinion_letters/2005/05-1232.pdf

February 15, 2006 - Thrifts Post Strong Results in 2005 - The nation's thrift industry continued its strong performance in 2005, according to fourth quarter and full-year financial results released today by the Office of Thrift Supervision. www.ots.treas.gov/docs/7/776005.html

February 15, 2006 - OCC Releases CRA Evaluations For 15 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, 2005 through February 14, 2006. www.occ.treas.gov/toolkit/newsrelease.aspx?Doc=6AQXGAN4.xml

February 15, 2006 - 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 and terminations of existing enforcement actions. www.occ.treas.gov/ftp/release/2006-18.htm

February 15, 2006 - Testimony by Chairman Ben S. Bernanke - Semiannual Monetary Policy Report Before the Committee on Financial Services, U.S. House of Representatives February 15, 2006. www.federalreserve.gov/boarddocs/hh/2006/february/testimony.htm

February 15, 2006 - FRB Reports to Congress - Semiannual Monetary Policy Report. www.federalreserve.gov/boarddocs/hh/2006/february/fullreport.htm

February 15, 2006 - Statistical Release - G.17 Industrial Production -Industrial production decreased 0.2 percent in January after upwardly revised gains of 0.9 percent in December and 1.1 percent in November. The output of utilities plummeted 10.1 percent in January as a result of the unseasonably warm temperatures. This drop is the largest monthly decline recorded in the thirty-four-year history of the index. www.federalreserve.gov/releases/g17/current/default.htm

February 14, 2006 - NCUA - Guidance For Filing Suspicious Activity Reports For Hurricane-Related Benefit Fraud. www.ncua.gov/reg_alerts/2006/06-RA-01.pdf

February 14, 2006 - Hurricane-Related Benefit Fraud Guidance to Financial Institutions on Benefit Fraud Related to Recent Hurricanes - The FDIC is providing institutions with the attached guidance issued by the Financial Crimes Enforcement Network regarding benefit fraud related to the recent hurricanes. The Hurricane Katrina Fraud Task Force, as part of the Department of Justice, has been vigorously prosecuting fraud cases related to the hurricanes. The Task Force has also identified possible signs of fraudulent activity, which are included in the attached guidance to assist financial institutions in identifying hurricane-related benefit fraud. Finally, FinCEN requests that specific words be used in the narrative portion of all Suspicious Activity Reports filed in connection with hurricane-related benefit fraud. www.fdic.gov/news/news/financial/2006/fil06015.html

February 14, 2006 - Families' Use of Payment Instruments During a Decade of Change in the U.S. Payment System - Elizabeth Klee - In the U.S., the share of payments made "electronically"--with credit cards, debit cards, and direct payments--grew from 25 percent in 1995 to over 50 percent in 2002 (BIS, 2004). This paper frames this aggregate change in the context of individual behavior. Family level data indicate that the share of families using or holding these instruments also increased over the same period. www.federalreserve.gov/pubs/feds/2006/200601/200601pap.pdf

February 14, 2006 - NCUA Files Civil Lawsuit Against Ex-Officials of Liquidated Massachusetts Credit Union - The National Credit Union Administration, as liquidating agent for the failed D. Edward Wells Federal Credit Union, located in Springfield, Mass., filed a civil lawsuit today against the credit union's former treasurer, Carol Aranjo; former chairman of the credit union's supervisory committee, Michael Akers; and others. www.ncua.gov/news/press_releases/2006/MR06-0214.htm

February 14, 2006 - FDIC Consumer News Features a Guide to Preparing Financially for Fires, Floods and other Misfortunes: Other topics include online fraud prevention and a coming increase in FDIC insurance for IRAs. www.fdic.gov/news/news/press/2006/pr06017.html

February 14, 2006 - Legal Interpretations - Letter to Citigroup, Inc., New York, New York, granting an exemption from section 23A of the Federal Reserve Act and Regulation W.   www.federalreserve.gov/BoardDocs/LegalInt/FederalReserveAct/2005/20051025/default.pdf

February 14, 2006 - Legal Interpretations - Letter to FirsTier Bank, Upton, Wyoming, granting an exemption under section 23A of the Federal Reserve Act and Regulation W. www.federalreserve.gov/BoardDocs/LegalInt/FederalReserveAct/2005/200511222/default.pdf

February 13, 2006 - OCC Releases Quarterly Journal, Vol. 24, No. 4 (December 2005) on the Web - Includes analysis of payment option adjustable rate mortgages and automated clearing house payments; third quarter 2005 condition and performance of banks; and other policy and data. www.occ.treas.gov/qj/qj24-4/qj24-4.pdf

February 13, 2006 - NCUA Clarifies Letter to Credit Unions Regarding Measurement of Credit Union Service to Members Focused for Federally Chartered Credit Unions. www.ncua.gov/news/press_releases/2006/NR06-0213.htm

February 13, 2006 - Delivery of Financial Institution Letters- Electronic Distribution to Become Primary Method - On April 1, 2006, the FDIC will begin using the electronic delivery of Financial Institution Letters through its free online subscription service - as its primary method of distribution. www.fdic.gov/news/news/financial/2006/fil06014.html

February 10, 2006 - The Federal Reserve Board on Friday announced that Michelle A. Smith will continue in her position as Assistant to the Board and Director of the Office of Board Members. The Board previously announced that she would be leaving to work for former chairman Alan Greenspan. www.federalreserve.gov/boarddocs/press/other/2006/20060210/default.htm

February 10, 2006 - NCUA - Letter to Federal Credit Unions 06-FCU-02 - Measuring Service to Members. www.ncua.gov/letters/2006/FCU/06-FCU-02.pdf

February 10, 2006 - NCUA Chairman Johnson Announces NCUA's Process for Measuring Credit Union Service to Members - National Credit Union Administration Chairman JoAnn Johnson announced today that the NCUA has initiated the process of collecting data in response to specific congressional requests and the Government Accountability Office to measure service to credit union members and senior management compensation and benefits. www.ncua.gov/news/press_releases/2006/NR06-0210.htm

February 10, 2006 - Legal Interpretations - Letter to The Royal Bank of Scotland Group plc, granting an exemption from section 23A of the Federal Reserve Act and Regulation W. www.federalreserve.gov/BoardDocs/LegalInt/FederalReserveAct/2005/20051122/default.pdf

February 10, 2006 - Legal Interpretations - Letter to Mark Welshimer permitting Wachovia to deconsolidate BluePoint Re Limited - To Sherman Financial Group LLC clarifying that its acquisition of control of First National Bank of Marin, Las Vegas, Nevada, would be an acquisition of a bank that qualified for the "credit card bank exemption" from the definition of bank in section 2(c)(2)(F) of the Bank Holding Company Act of 1956. www.federalreserve.gov/BoardDocs/LegalInt/BHC_ChangeInControl/2005/20050218/
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February 9, 2006 - OCC Issues Guidance on Community Reinvestment Act Credit For National Bank Activities in Areas Affected by Hurricanes - With respect to Hurricanes Katrina and Rita, the Office of the Comptroller of the Agency issued a bulletin today allowing national banks located outside the disaster area to receive positive Community Reinvestment Act consideration for activities that support the revitalization and stabilization of affected areas.
Press Release: www.occ.treas.gov/toolkit/newsrelease.aspx?Doc=ULWSNTH8.xml
Attachment: www.occ.treas.gov/ftp/bulletin/2006-6.doc
Attachment: www.occ.treas.gov/hurricane.htm

February 9, 2006 - OCC Announces New Credit and Market Risk Unit - The Office of the Comptroller of the Currency announced today that two groups - Credit Risk and Risk Evaluation - are being combined in a new Credit and Market Risk unit that will be headed by Deputy Comptroller Kathy Dick. www.occ.treas.gov/toolkit/newsrelease.aspx?Doc=CRT51X2V.xml

February 9, 2006 - External Audit Engagement Letters - Unsafe and Unsound Use of Limitation of Liability Provisions - The federal financial institution regulatory agencies have issued the attached final interagency advisory on the unsafe and unsound use of limitation of liability provisions in external audit engagement letters. www.fdic.gov/news/news/financial/2006/fil06013.html

February 8, 2006 - Federal Financial Regulators Sponsor 2006 National Community Reinvestment Conference, March 19-22 - The federal bank and thrift regulatory agencies today announced dates for the 2006 National Community Reinvestment Conference at the Green Valley Ranch, Las Vegas, Nevada, March 19-22. www.occ.treas.gov/toolkit/newsrelease.aspx?JNR=1&Doc=9B9GVCTL.xml

February 8, 2006 - Surveys and Reports - Senior Loan Officer Opinion Survey on Bank Lending Practices - The January 2006 Senior Loan Officer Opinion Survey on Bank Lending Practices addressed changes in the supply of, and demand for, bank loans to businesses and households over the past three months. In addition, the survey contained a special question on changes in selected terms on commercial real estate loans over the past year. www.federalreserve.gov/boarddocs/snloansurvey/200601/

February 8, 2006 - The Federal Reserve Board on Wednesday announced the approval of the application of Banco Popular Espańol, S.A., Madrid, Spain, to establish a representative office in Miami, Florida. www.federalreserve.gov/boarddocs/press/orders/2006/20060208/default.htm

February 8, 2006 - Federal Financial Regulators Sponsor 2006 National Community Reinvestment Conference, March 19-22 - The federal bank and thrift regulatory agencies today announced dates for the 2006 National Community Reinvestment Conference at the Green Valley Ranch, Las Vegas, Nevada, March 19-22.
Press Release: www.frbsf.org/news/releases/2006/0208.html
Press Release: www.occ.treas.gov/toolkit/newsrelease.aspx?JNR=1&Doc=9B9GVCTL.xml
Press Release: www.fdic.gov/news/news/press/2006/pr06015.html

February 8, 2006 - FDIC's Donna Gambrell Accepts Assignment to Work on Gulf Coast Rebuilding Efforts - She will forge partnerships among banks, government agencies and community groups - Donna Gambrell, Deputy Director of the Federal Deposit Insurance Corporation's Division of Supervision and Consumer Protection, has left the agency for a one-year assignment to work with former FDIC Chairman Donald Powell on Gulf Coast rebuilding efforts. www.fdic.gov/news/news/press/2006/pr06016.html

February 8, 2006 - The Federal Open Market Committee on Wednesday announced a change in its tentative schedule for 2006 to allow additional time at Chairman Bernanke's initial meeting with the Committee. The upcoming meeting, previously planned for March 28, will be expanded to two days and begin on the afternoon of Monday, March 27, and continue on Tuesday, March 28. www.federalreserve.gov/boarddocs/press/monetary/2006/20060208/default.htm

February 7, 2006 - Colorado Banker Appointed To Federal Reserve Advisory Council - A Colorado banker has recently been appointed to a position with the Federal Reserve. David C. Boyles, president and chief operating officer, Centennial Bank Holdings, Inc., Denver, Colo., has been appointed by the Federal Reserve Bank of Kansas City to represent the Tenth Federal Reserve District on the Federal Advisory Council. www.kc.frb.org/pubaffrs/pressrel/pr06-2.htm

February 7, 2006 - FDIC Makes Public December Enforcement Actions No Administrative Hearing Scheduled - The Federal Deposit Insurance Corporation today released a list of orders of administrative enforcement actions taken against banks and individuals in December. No administrative hearing is scheduled for February. www.fdic.gov/news/news/press/2006/pr06014.html

February 7, 2006 - FDIC Highlights Consumer Education Tools on Fraud Prevention in Observance of National Consumer Protection Week - The Federal Deposit Insurance Corporation, in observance of National Consumer Protection Week February 5-11 and its theme of fraud prevention, is reminding the public about the agency's wide range of educational materials designed to help consumers learn how to protect themselves from scams. www.fdic.gov/news/news/press/2006/pr06013.html

February 7, 2006 - Banking Structure Financial Holding Companies - 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 company in each organization. www.federalreserve.gov/generalinfo/fhc/default.htm

February 7, 2006 - Statistical Release G.19 Consumer Credit - Consumer credit increased 3 percent in 2005. In the fourth quarter, consumer credit was about unchanged, after increasing at an annual rate of 5-1/4 percent in the third quarter. In December, consumer credit rose at nearly a 2 percent pace. www.federalreserve.gov/Releases/G19/Current/default.htm

February 7, 2006 - The Federal Reserve Board on Tuesday announced the issuance of an Order of Prohibition against Mayra Cuellar, a former institution-affiliated party of Gulf Bank, Miami, Florida. www.federalreserve.gov/boarddocs/press/Enforcement/2006/20060207/default.htm

February 6, 2006 - NCUA - Letter to Credit Unions 06-CU-01 - Interagency Supervisory Guidance For Institutions Affected By Hurricane Katrina.
Press Release: www.ncua.gov/letters/2006/CU/06-CU-01.pdf
Attachment: www.ncua.gov/letters/2006/CU/06-CU-01Enclosure.pdf

February 6, 2006 - Annual Report on the Freedom of Information Act for Fiscal Year 2005 Board of Governors of the Federal Reserve System February 1, 2006 - The following information is submitted to the U.S. Department of Justice by the Board of Governors of the Federal Reserve System in accordance with the requirements of the Freedom of Information Act. www.federalreserve.gov/generalinfo/foia/anrpt_2005.htm

February 6, 2006 - The Federal Reserve Board on Monday announced the approval of a final rule for state member banks and bank holding companies that revises the risk-based capital treatment for cash collateral posted in connection with securities borrowing transactions. This final rule makes permanent, and expands the scope of, an interim final rule issued in 2000, that reduced risk-based capital requirements for certain cash-collateralized securities borrowing transactions. www.federalreserve.gov/boarddocs/press/bcreg/2006/20060206/default.htm

February 6, 2006 - The Office of the Comptroller of the Currency will host workshops for national community bank directors at the Fairmont Hotel, Scottsdale, Ariz., on March 28-30. The workshops provide practical information that expands bank directors' skills and understanding of issues facing their banks. This year's workshops cover risk assessment, credit risk, and compliance risk. www.occ.treas.gov/toolkit/newsrelease.aspx?Doc=ENUO8WO5.xml

February 6, 2006 - The Office of the Comptroller of the Currency will host a workshop for national community bank directors at the Peabody Hotel, Little Rock, on March 21. The workshop provides practical information that expands bank directors' skills and understanding of issues facing their banks. www.occ.treas.gov/toolkit/newsrelease.aspx?Doc=L3HPJM6.xml

February 6, 2006 - Comptroller of the Currency Announces 2006 Workshops for National Community Bank Directors - The workshops provide practical information that expands bank directors' skills and understanding of issues facing their banks. This year's workshops cover risk assessment, credit risk, and compliance risk. www.occ.treas.gov/toolkit/newsrelease.aspx?Doc=YYJY96X.xml

February 6, 2006 - Chairman Ben S. Bernanke - Remarks at ceremonial swearing-in by President Bush At the Federal Reserve Board of Governors, Washington, D.C. www.federalreserve.gov/boarddocs/speeches/2006/20060206/default.htm

February 3, 2006 - Comptroller Dugan Underscores Bank Responsibility for Model Validation - Comptroller of the Currency John C. Dugan said today that responsibility for validating the models banks use to manage credit risk and other critical activities lies first and foremost with the institution itself. Press Release: www.occ.treas.gov/toolkit/newsrelease.aspx?Doc=EYGNGGQ3.xml
Attachment: www.occ.treas.gov/ftp/release/2006-11a.pdf

February 3, 2006 - The federal financial institutions regulatory agencies and the Alabama, Louisiana, and Mississippi state supervisory authorities have developed the attached supervisory guidance to assist their examiners in the examination of regulated institutions affected by Hurricane Katrina.
Press Release: www.federalreserve.gov/boarddocs/SRLETTERS/2006/SR0603.htm
Press Release: www.fdic.gov/news/news/financial/2006/fil06012.html

February 3, 2006 - President Bush is expected to participate in the ceremonial swearing-in of Ben S. Bernanke as the fourteenth Chairman and a member of the Board of Governors of the Federal Reserve System. The ceremony is scheduled to begin at 10 a.m. EST Monday, February 6 at the Board. www.federalreserve.gov/boarddocs/press/other/2006/200602032/default.htm

February 3, 2006 - The Federal Reserve Board on Thursday approved action by the Board of Directors of the Federal Reserve Bank of Minneapolis, increasing the discount rate at the Bank from 5-1/4 percent to 5-1/2 percent, effective immediately. www.federalreserve.gov/boarddocs/press/monetary/2006/20060203/default.htm

February 3, 2006 - NCUA - Greater Harrisburg Community Credit Union Closes - Member funds are federally insured and checks will be issued within three business days - The National Credit Union Administration has liquidated Greater Harrisburg Community Credit Union, a state-chartered, federally insured credit union in Harrisburg, Pa. This action was taken in concert with the Pennsylvania Department of Banking.   www.ncua.gov/news/press_releases/2006/NR06-0203.htm

February 3, 2006 - Hurricane Katrina: Guidance to Examiners - Interagency guidance relays to examiners of financial institutions supervisory practices for assessing financial condition of institutions affected by Hurricane Katrina. www.occ.treas.gov/ftp/bulletin/2006-5a.pdf

February 3, 2006 - 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 November 2005. www.fdic.gov/news/news/press/2006/pr06010.html

February 3, 2006 - Enhancements to the System's Off-Site Bank Surveillance Program - Since 1994, the Federal Reserve has used two econometric models jointly known as SEER or the System to Estimate Examination Ratings to monitor the condition and performance of state member banks. www.federalreserve.gov/BoardDocs/SRLetters/2006/SR0602.htm

February 3, 2006 - Federal Bank and Thrift Supervisors Announce Banking Forum in New Orleans - The federal bank and thrift regulatory agencies today announced that they will be hosting a forum in New Orleans for banks and thrifts on March 2 and 3, 2006.
Press Release: www.federalreserve.gov/boarddocs/press/other/2006/20060203/default.htm
Press Release: www.fdic.gov/news/news/press/2006/pr06012.html
Press Release: www.occ.treas.gov/toolkit/newsrelease.aspx?JNR=1&Doc=UGQKK49.xml
Press Release: www.ots.treas.gov/docs/7/776004.html

February 3, 2006 - Federal Financial Regulatory Agencies Issue Interagency Advisory On External Auditor Limitation of Liability Provisions - The federal financial regulatory agencies today announced the issuance of a final advisory that addresses safety and soundness concerns that may arise when financial institutions agree to limit their external auditors' liability.
Press Release: www.federalreserve.gov/boarddocs/press/bcreg/2006/20060203/default.htm
Press Release: www.fdic.gov/news/news/press/2006/pr06011.html
Press Release: www.occ.treas.gov/toolkit/newsrelease.aspx?JNR=1&Doc=PP9WMUNE.xml
Press Release: www.ots.treas.gov/docs/7/776003.html
Press Release: www.ncua.gov/news/press_releases/2006/JR06-0203.pdf

February 2, 2006 - Nebraska Business Leader Appointed To Federal Reserve Bank Of Kansas City Board Of Directors - The Board of Governors of the Federal Reserve has announced that Terry Moore, president of the Omaha Federation of Labor, AFL-CIO, Omaha, Neb., has been appointed to the Board of Directors of the Federal Reserve Bank of Kansas City. www.kc.frb.org/pubaffrs/pressrel/pr06-1.htm
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February 2, 2006 - OCC Workshop Addresses Challenges of Credit Rating and Scoring Models - The Office of the Comptroller of the Currency is holding a workshop today and tomorrow to address the challenge of validating the rating and scoring models banks rely upon to measure and monitor portfolio credit risk. www.occ.treas.gov/toolkit/newsrelease.aspx?Doc=GF8IW1YN.xml

February 2, 2006 - Comptroller Dugan Praises Interagency Effort to Overhaul Privacy Notices; Supports Efforts to Develop Federal Standards to Protect Consumer Financial Data - Comptroller of the Currency John C. Dugan said today that most bank customers don't find the privacy notices they receive to be especially useful and said an ongoing interagency process to simplify those notices will better serve banks and their customers.
Press Release: www.occ.treas.gov/toolkit/newsrelease.aspx?Doc=R1SKUXWE.xml
Attachment: www.occ.treas.gov/ftp/release/2006-8a.pdf

February 2, 2006 - Portland Branch of Federal Reserve Bank of San Francisco Moves to 1500 SW First Avenue; 915 SW Stark St. Building Up for Sale www.frbsf.org/news/releases/2006/0202.html

February 2, 2006 - Deposit Insurance Coverage New Electronic Deposit Insurance Estimator - The Federal Deposit Insurance Corporation has released a new expanded version of its Electronic Deposit Insurance Estimator, also known as "Online EDIE," for use by bank customers. With this new version, users can estimate insurance coverage for a wider range of account types. www.fdic.gov/news/news/financial/2006/fil06011.html

February 2, 2006 - Governor Susan Schmidt Bies - The Continuous Challenges of Risk Management - At the Financial Services Institute, Washington, D.C. www.federalreserve.gov/boarddocs/speeches/2006/20060202/default.htm

February 2, 2006 - NCUA Chairman's Statement Regarding The President's State of the Union Address www.ncua.gov/news/press_releases/2006/ST06-0202-2.htm

February 2, 2006 - NCUA - Statement of NCUA Chairman JoAnn Johnson on the Passage of Federal Deposit Insurance Reform www.ncua.gov/news/press_releases/2006/ST06-0202.htm

February 1, 2006 - Statement of FDIC Chairman Martin Gruenberg on the Passage of Deposit Insurance Reform www.fdic.gov/news/news/press/2006/pr06009.html

February 1, 2006 - Office of Foreign Assets Control Enforcement Guidelines - The Department of the Treasury's Office of Foreign Assets Control has issued the attached interim final rule on the "Economic Sanctions Enforcement Procedures for Banking Institutions." The interim final rule is effective with enforcement cases involving banking institutions commencing on or after February 13, 2006. OFAC is seeking comments on the interim final rule. www.fdic.gov/news/news/financial/2006/fil06009.html

February 1, 2006 - Bank Secrecy Act - U.S. Money Laundering Threat Assessment - The Department of the Treasury has released the 2005 U.S. Money Laundering Threat Assessment, which is designed to help policymakers, regulators and the law enforcement community better understand money laundering in the United States and to support efforts to combat it. www.fdic.gov/news/news/financial/2006/fil06008.html

February 1, 2006 - Statistical Release - G.5 Foreign Exchange Rates - The Table Below Shows The Average Rates Of Exchange In January 2006 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/

February 1, 2006 - Ben S. Bernanke sworn in as fourteenth Chairman of the Board of Governors of the Federal Reserve System www.federalreserve.gov/boarddocs/press/other/2006/20060201/default.htm

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