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Bank Regulatory News

February 2007

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February 28, 2007 - Capital Standards Proposed Interagency Supervisory Guidance for Banks That Would Operate Under the Proposed New Basel II Framework - The federal bank and thrift regulatory agencies are seeking comment on the attached proposed guidance describing current agency expectations for banking organizations that would adopt the Advanced Internal Ratings-Based Approach for credit risk and the Advanced Measurement Approaches for operational risk under the proposed new Basel II capital framework.
Press Release: www.fdic.gov/news/news/financial/2007/fil07020.html 
Press Release: www.occ.treas.gov/ftp/bulletin/2007-10.html 

February 28, 2007 - FDIC Issues Second Quarter 2007 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 2007. www.fdic.gov/news/news/press/2007/pr07017.html 

February 28, 2007 - Vice Chairman Donald L. Kohn - The aging workforce - Before the Special Committee on Aging, U.S. Senate.   www.federalreserve.gov/boarddocs/testimony/2007/200702282/default.htm 

February 28, 2007 - Chairman Ben S. Bernanke - Long-term fiscal challenges and the economy - Before the Committee on the Budget, U.S. House of Representatives.  www.federalreserve.gov/boarddocs/testimony/2007/20070228/default.htm 

February 27, 2007 - National Credit Union Administration Issues Civil Money Penalties - During the fourth quarter of 2006, the National Credit Union Administration assessed Civil Money Penalties against 22 federally insured credit unions that were late in submitting 2005 Home Mortgage Disclosure Act data. www.ncua.gov/news/press_releases/2007/MR07-0227.htm 

February 27, 2007 - OCC Focuses on the New Markets Tax Credit Program - The Office of the Comptroller of the Currency today released a Community Developments Insights report entitled, "New Markets Tax Credits: Unlocking Investment Potential," highlighting key features of the New Markets Tax Credit program and major considerations facing bank investors who use the credits to develop and support community and economic development activities. www.occ.treas.gov/ftp/release/2007-15.htm 

February 27, 2007 - Deposit Insurance Assessments - Proposed Assessment Rate Adjustment Guidelines for Large Institutions and Insured Foreign Branches in Risk Category I - The FDIC is seeking comment on the attached proposed guidelines for determining how adjustments of up to 0.50 basis points would be made to the quarterly assessment rates of insured institutions defined as large Risk Category I institutions, and insured foreign branches in Risk Category I, according to the Final Assessments Rule (71 FR 69282, Nov. 30, 2006). www.fdic.gov/news/news/financial/2007/fil07019.html 

February 27, 2007 - The Federal Reserve Board on Tuesday released the minutes of its discount rate meeting on January 29, 2007. www.federalreserve.gov/boarddocs/press/monetary/2007/20070227/default.htm 

February 27, 2007 - The Federal Reserve Board on Tuesday announced the termination of the enforcement action Bank of America Corporation, Charlotte, N.C. Written Agreement dated February 9, 2005 Terminated February 27, 2007 www.federalreserve.gov/boarddocs/press/Enforcement/2007/20070227/default.htm 

February 27, 2007 - Comptroller Dugan Says Regulators and Industry Both Benefit From Inter-connection between Regulation and Risk Management - Comptroller of the Currency John C. Dugan told an audience of bank risk managers today that, because their goals are so closely aligned to those of the regulators, the regulations and guidance issued by the agencies can support them in meeting their firms' objectives. www.occ.treas.gov/ftp/release/2007-14.htm 

February 27, 2007 - Statistical Release - Charge-Off and Delinquency Rates on Loans at Commercial Banks.   www.federalreserve.gov/Releases/ChargeOff/default.htm 

February 27, 2007 - Statistical Release - U.S. Reserve Assets; Foreign Official Assets Held at Federal Reserve Banks.   www.federalreserve.gov/Releases/bulletin/0207assets.htm 

February 26, 2007 - Bank Accounting Advisory Series, January 2007 - In these accounting advisories either the OCC's Office of the Chief Accountant interprets generally accepted accounting principles or the OCC interprets regulatory capital requirements. www.occ.treas.gov/BAAS2007.pdf 

February 26, 2007 - Are Antidumping Duties for Sale? Case-Level Evidence on the Grossman-Helpman Protection for Sale Model - Carolyn L. Evans and Shane M. Sherlund - As successive rounds of global trade liberalization have lowered broad industry-level tariffs, antidumping duties have emerged as a WTO-consistent means of protecting certain industries. Using the Grossman-Helpman "Protection for Sale" model, we examine the extent to which political contributions affect the outcomes of decisions in antidumping cases. www.federalreserve.gov/pubs/ifdp/2006/888/ifdp888.htm 

February 26, 2007 - Flying Geese or Sitting Ducks: China's Impact on the Trading Fortunes of other Asian Economies - Alan G. Ahearne, John G. Fernald, Prakash Loungani, and John W. Schindler - This paper updates our earlier work (Ahearne, Fernald, Loungani and Schindler, 2003) on whether China, with its huge pool of labor and an allegedly undervalued exchange rate, is hurting the export performance of other emerging market economies in Asia. We continue to find that while exchange rates matter for export performance, the income growth of trading partners matters far more. www.federalreserve.gov/pubs/ifdp/2006/887/ifdp887.htm 

February 26, 2007 - Regulatory Relief Guidance to Help Financial Institutions and Facilitate Recovery in Areas Affected by Severe Storms in Central Florida - The Federal Deposit Insurance Corporation has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas affected by severe storms and tornadoes in four counties in central Florida. www.fdic.gov/news/news/financial/2007/fil07018.html 

February 26, 2007 - Governor Susan Schmidt Bies - An Update on Basel II Implementation in the United States - At the Global Association of Risk Professionals Basel II Summit, New York, New York.  www.federalreserve.gov/boarddocs/speeches/2007/20070226/default.htm 

February 23, 2007 - NCUA - Letter to Credit Unions 07-CU-03 - Reminds credit unions of the upcoming change in the schedule for Daylight Saving.   Time www.ncua.gov/letters/2007/CU/07-CU-03.pdf 

February 23, 2007 - Extension of Daylight Saving Time - Reminder to Banks to Assess Impact of Extended Time Change on Information Systems - The FDIC is alerting financial institutions that, with the extension of Daylight Saving Time this year, financial institution management should assess the impact of this change on information systems and implement appropriate updates where needed. DST will begin earlier and end later than in previous years. This year, DST will begin the second Sunday in March and end the first Sunday in November. www.fdic.gov/news/news/financial/2007/fil07017.html 

February 23, 2007 - Conference on Credit Risk and Derivatives March 22-23, 2007 - Markets for credit risk and credit derivatives have grown rapidly in recent years. So has their importance to the policymaking of the Federal Reserve System. As both a consumer and a producer of credit-risk research, the Federal Reserve Board is an ideal facilitator for a wide-ranging discussion on the latest advances in this area. The conference program selected this year focuses on credit pricing models, financial distress costs, and sovereign credit spreads. www.federalreserve.gov/events/conferences/2007/20070322/default.htm 

February 23, 2007 - The Federal Reserve Board on Friday announced the issuance of a consent Order of Prohibition against Seresa Morgan ("Morgan"), a former employee of Civitas BankGroup, Inc. ("Civitas"), Franklin, Tennessee, a registered bank holding company. www.federalreserve.gov/boarddocs/press/Enforcement/2007/20070223/default.htm 

February 23, 2007 - The Office of the Comptroller of the Currency has been informed by the Federal Deposit Insurance Corporation that fraudulent e-mails claiming to be from the FDIC or VeriSign are in circulation. The e-mails request recipients to run a "security guard script" to secure Web sites. www.occ.treas.gov/ftp/alert/2007-9.html 

February 22, 2007 - Rounding and the Impact of News: A Simple Test of Market Rationality - Meredith Beechey and Jonathan H. Wright -Certain prominent scheduled macroeconomic news releases contain a rounded number on the first page of the release that is widely cited by newswires and the press and a more precise number in the text of the release. The whole release comes out at once. www.federalreserve.gov/pubs/feds/2007/200705/index.html
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February 22, 2007 - OTS Receives EU Equivalency Designation for Supervision of AIG - The Office of Thrift Supervision announced today that the French bank regulator, Commission Bancaire, has determined that the OTS provides equivalent consolidated supervision for American International Group, Inc.  www.ots.treas.gov/docs/7/777011.html 

February 22, 2007 - Legal Interpretations - Letter to Patrick Antrim, Bank of America Corporation, granting an exemption from section 23A of the Federal Reserve Act and Regulation W (12 U.S.C. 371c and 12 CFR Part 223) for certain covered transactions. www.federalreserve.gov/BoardDocs/LegalInt/FederalReserveAct/2007/20070123/20070123.pdf 

February 22, 2007 - Insured Banks and Thrifts Report Record Earnings in 2006 - Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation reported net income of $145.7 billion in 2006, eclipsing the previous record of $133.9 billion set in 2005. www.fdic.gov/news/news/press/2007/pr07015.html 

February 21, 2007 - Thrift Industry Well Positioned Despite Fourth Quarter Decline - The Office of Thrift Supervision reported today that the nation's thrift industry posted historically strong earnings and profitability in 2006. Asset quality measures for OTS-regulated thrifts also remain strong by historical levels despite weakening in the fourth quarter from the slowdown in the housing markets. www.ots.treas.gov/docs/7/777010.html 

February 21, 2007 - The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on January 30-31, 2007. www.federalreserve.gov/boarddocs/press/monetary/2007/20070221/default.htm 

February 21, 2007 - Vice Chairman Donald L. Kohn - Financial Stability: Preventing and Managing Crises - At the Exchequer Club Luncheon, Washington, D.C. www.federalreserve.gov/boarddocs/speeches/2007/20070221/default.htm 

February 20, 2007 - Financial Education -New FDIC Guide Features Simple Strategies for Managing Money -The FDIC has published a new how-to guide for consumers that features simple, practical suggestions for dealing successfully with some of today's important money matters. The FDIC is encouraging financial institutions to make the information in this publication widely available. www.fdic.gov/news/news/financial/2007/fil07015.html 

February 20, 2007 - Rational Seasonality - Travis D. Nesmith - Seasonal adjustment usually relies on statistical models of seasonality that treat seasonal fluctuations as noise corrupting the `true' data. But seasonality in economic series often stems from economic behavior such as Christmas-time spending. Such economic seasonality invalidates the separability assumptions that justify the construction of aggregate economic indexes. www.federalreserve.gov/pubs/feds/2007/200704/index.html 

February 20, 2007 - Global Asset Prices and FOMC Announcements - Joshua Hausman and Jon Wongswan - This paper documents the impact of U.S. monetary policy announcement surprises on foreign equity indexes, short- and long-term interest rates, and exchange rates in 49 countries. We use two proxies for monetary policy surprises: the surprise change to the current target federal funds rate (target surprise) and the revision to the path of future monetary policy (path surprise). www.federalreserve.gov/pubs/ifdp/2006/886/ifdp886.htm 

February 20, 2007 - Of Nutters And Doves - Roc Armenter and Martin Bodenstein - We argue that there are conditions such that any inflation targeting regime is preferable to full policy discretion, even if long-run inflation rates are identical across regimes. The key observation is that strict inflation targeting outperforms the discretionary policy response to sufficiently persistent shocks. Under full policy discretion, inflation expectations over the medium term respond to the shock and thereby amplify its impact on output. www.federalreserve.gov/pubs/ifdp/2006/885/ifdp885.htm 

February 20, 2007 - International Asset Markets And Real Exchange Rate Volatility - Martin Bodenstein - The real exchange rate is very volatile relative to major macroeconomic aggregates and its correlation with the ratio of domestic over foreign consumption is negative (Backus-Smith puzzle). These two observations constitute a puzzle to standard international macroeconomic theory. www.federalreserve.gov/pubs/ifdp/2006/884/ifdp884.htm  

February 20, 2007 - Measurement Matters for Modeling U.S. Import Prices - Charles P. Thomas and Jaime Marquez - We focus on capturing the increasingly important role that emerging economies play in determining U.S. import prices. Emerging market producers differ from others in two respects: (1) their cost structure is well below that of developed-market producers, and (2) their wide profit margins induce pricing policies that seek to exhaust production capacity. www.federalreserve.gov/pubs/ifdp/2006/883/ifdp883.htm 

February 20, 2007 - Changes in Job Quality and Trends in Labor Hours - Brahima Coulibaly - Many economic models featuring labor supply decision, especially in macroeconomic analysis, assume away heterogeneity in the nature of work, or assume that the nature of work is irrelevant to the labor/leisure choice. This paper studies the macroeconomic implications of relaxing this assumption. Estimation from micro data using labor hours, wages, consumption, and nonpecuniary job characteristics suggests that labor supply responds to differences and to changes in the nature of work. www.federalreserve.gov/pubs/ifdp/2006/882/ifdp882.htm 

February 20, 2007 - Predicting Sharp Depreciations in Industrial Country Exchange Rates - Jonathan H. Wright and Joseph E. Gagnon - This paper considers the prediction of large depreciations (both nominal and real) in a panel of industrialized countries using a probit methodology. The current account balance/GDP ratio has a modest but statistically significant effect on the estimated probability of a large depreciation, and gives slight predictive power in an out-of-sample forecasting exercise. www.federalreserve.gov/pubs/ifdp/2006/881/ifdp881.htm 

February 20, 2007 - NCUA - Huron River Area Credit Union is Placed into Conservatorship.  www.ncua.gov/news/press_releases/2007/MR07-0216-2.htm 

February 20, 2007 - FDIC Reports Year-End 2006 Financial Results for the Deposit Insurance Fund and the FSLIC Resolution Fund - Unqualified Audit Opinions on Funds' Financial Statements Issued by the Government Accountability Office.  www.fdic.gov/news/news/press/2007/pr07014.html 

February 20, 2007 - Proposal for Comment - Joint interim rule amendment regarding management interlocks to implement section 610 of the Financial Services Regulatory Relief Act of 2006 and to correct inaccurate cross-references. www.federalreserve.gov/generalinfo/foia/proposedregs.cfm 

February 16, 2007 - OCC Releases CRA Evaluations For 21 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, 2007 through February 14, 2007. www.occ.treas.gov/ftp/release/2007-13.htm 

February 16, 2007 - NCUA - Communities United Credit Union is Placed into Conservatorship - The National Credit Union Administration has assumed control of the operations of Communities United Credit Union, a state-chartered, federally insured credit union serving residents within several zip code areas in Wichita, Kansas. www.ncua.gov/news/press_releases/2007/MR07-0216.htm 

February 16, 2007 - NCUA - Final Rule - General Lending Maturity Limit and Other Financial Services.   www.ncua.gov/RegulationsOpinionsLaws/proposed_regs/IFR-701.pdf 

February 16, 2007 - Daylight Savings Time Change: Risk Management Guidance - National banks may be exposed to a variety of risks from the upcoming change in the schedule for Daylight Savings Time. www.occ.treas.gov/ftp/bulletin/2007-9.html 

February 16, 2007 - The Federal Reserve Board on Friday alerted the public to instances of questionable solicitations directed at homeowners. The Federal Reserve has received inquiries and complaints from recipients of direct mail solicitations that suggest there is a "Community Reinvestment Act program" that entitles certain homeowners to cash grants or equity disbursements. www.federalreserve.gov/boarddocs/press/other/2007/20070216/default.htm
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February 15, 2007 - 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/2007-12.htm 

February 15, 2007 - Linear Cointegration of Nonlinear Time Series with an Application to Interest Rate Dynamics - Barry E. Jones and Travis D. Nesmith - We derive a definition of linear cointegration for nonlinear stochastic processes using a martingale representation theorem. The result shows that stationary linear cointegrations can exhibit nonlinear dynamics, in contrast with the normal assumption of linearity. We propose a sequential nonparametric method to test first for cointegration and second for nonlinear dynamics in the cointegrated system. www.federalreserve.gov/pubs/feds/2007/200703/index.html 

February 15, 2007 - NCUA - Results of NCUA's 2/15/2007 Board Meeting are Available.   www.ncua.gov/NCUABoard/board_reports/board_reports.html 

February 15, 2007 - Statistical Release - G.20 Finance Companies.   www.federalreserve.gov/releases/g20/Current/ 

February 15, 2007 - Agencies Seek Public Comment on Proposed Supervisory Guidance for Basel II - The federal bank and thrift regulatory agencies on Thursday announced that they will seek public comment on three proposed supervisory guidance documents related to the September 2006 notice of proposed rulemaking on new risk-based capital requirements in the United States for large, internationally active banking organizations.
Press Release: www.federalreserve.gov/boarddocs/press/bcreg/2007/20070215/default.htm 
Press Release: www.fdic.gov/news/news/press/2007/pr07013.html 
Press Release: www.occ.treas.gov/ftp/release/2007-11.htm 
Press Release: www.ots.treas.gov/docs/7/777009.html 

February 15, 2007 - The Federal Reserve Board on Thursday announced its approval of the proposal by The PNC Financial Services Group, Inc., Pittsburgh, Pennsylvania, to merge with Mercantile Bankshares Corporation, Baltimore, Maryland, and thereby acquire its subsidiary banks. www.federalreserve.gov/boarddocs/press/orders/2007/20070215/default.htm 

February 15, 2007 - Statistical Release - G.17 Industrial Production - Industrial production decreased 0.5 percent in January after an increase of 0.5 percent in December. Output in the manufacturing sector declined 0.7 percent in January; about one-half of the decrease was a result of a drop of 6 percent in motor vehicles and parts. www.federalreserve.gov/releases/g17/current/default.htm 

February 14, 2007 - National Credit Union Administration Board Member Hyland has announced the schedule for upcoming Outreach Task Force "Town Hall" meetings.   www.ncua.gov/news/press_releases/2007/MA07-0214.htm 

February 14, 2007 - FRB Reports to Congress - Monetary Policy Report to the Congress.   www.federalreserve.gov/boarddocs/hh/2007/february/fullreport.htm 

February 14, 2007 - Chairman Ben S. Bernanke - Semiannual Monetary Policy Report to the Congress Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate.  www.federalreserve.gov/boarddocs/hh/2007/february/testimony.htm 

February 13, 2007 - The Federal Reserve Board announced today that the Consumer Advisory Council will hold its next meeting on Thursday, March 8. 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/2007/20070213/default.htm 

February 13, 2007 - NCUA Issues Prohibition Orders.  www.ncua.gov/news/press_releases/2007/MR07-0213.htm 

February 13, 2007 - Federal Open Market Committee - Transcripts from 1978 meetings.   www.federalreserve.gov/fomc/transcripts/transcripts_1978.htm 

February 9, 2007 - OTS Highlights Importance of Credit Report Monitoring - In its final release for Consumer Protection Week, the Office of Thrift Supervision highlights the importance to consumers of monitoring their credit report and credit scores assigned to them by the three credit reporting bureaus. www.ots.treas.gov/docs/7/777008.html 

February 9, 2007 - Susan Schmidt Bies submitted her resignation Friday as a member of the Board of Governors of the Federal Reserve System, effective March 30, 2007. www.federalreserve.gov/boarddocs/press/other/2007/20070209/default.htm
________________

February 8, 2007 - NCUA and FinCEN Host First-Ever Joint Seminar on Bank Secrecy Act Compliance Programs - More than 2,000 members of the credit union industry participated Tuesday in the first-ever web-based seminar hosted jointly by the National Credit Union Administration and the Financial Crimes Enforcement Network. www.ncua.gov/news/press_releases/2007/JR07-0208.pdf 

February 8, 2007 - OTS Issues Consumer Complaint Brochure - As part of its program for Consumer Protection Week, the Office of Thrift Supervision today issued a consumer information brochure on how consumers can resolve complaints with financial institutions. www.ots.treas.gov/docs/7/777007.html 

February 8, 2007 - Office of the Comptroller of the Currency Provides Consumer Tips - At National Consumer Protection Week Event on Capitol Hill - The Office of the Comptroller of the Currency today joined several other federal agencies and consumer groups to raise awareness and help inform consumers as part of a National Consumer Protection Week event on Capitol Hill. www.occ.treas.gov/ftp/release/2007-10.htm 

February 8, 2007 - Dennis P. Lockhart will become president and chief executive officer of the Federal Reserve Bank of Atlanta effective March 1, 2007, announced Larkin Martin, chairman of the board of the Federal Reserve Bank of Atlanta. Lockhart, 60, succeeds Jack Guynn, who retired from the Atlanta Fed on Oct. 1, 2006. www.federalreserve.gov/boarddocs/press/other/2007/20070208/default.htm 

February 8, 2007 - 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/2007/pr07012.html 

February 7, 2007 - OCC 2007-8, Hurricane Katrina: Working with Customers - Interagency reminder reiterates to bankers and examiners the principles of 2006 Hurricane Katrina Examiner Guidance and of flexibility in restructuring arrangements with affected customers. www.occ.treas.gov/ftp/bulletin/2007-8.html 

February 7, 2007 - Statistical Release - G.19 Consumer Credit - Consumer credit increased 4-1/2 percent in 2006. In the fourth quarter, consumer credit rose at an annual rate of 3-3/4 percent, down from a 5-1/2 percent pace in the third quarter. In December, consumer credit increased at an annual rate of 3 percent. www.federalreserve.gov/Releases/G19/Current/default.htm 

February 7, 2007 - OTS Highlights Consumer Guidance on Understanding ARMs - In its third release for Consumer Protection Week, the Office of Thrift Supervision highlights two separate pieces of consumer guidance on understanding issues and terms with adjustable rate mortgage loan products.   www.ots.treas.gov/docs/7/777006.html 

February 6, 2007 - OTS Issues Consumer Information Brochure on Gift Cards - As part of the Office of Thrift Supervision's Consumer Protection Week series, the agency unveiled today a consumer information brochure on the purchase and use of gift cards. The brochure, entitled "Consumer Fact Sheet: Buying, Giving, and Using Gift Cards," advises consumers regarding gift cards issued by financial institutions. www.ots.treas.gov/docs/7/777005.html 

February 6, 2007 - 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 6, 2007 - Chairman Ben S. Bernanke - The Level and Distribution of Economic Well-Being - Before the Greater Omaha Chamber of Commerce, Omaha, Nebraska.  www.federalreserve.gov/boarddocs/speeches/2007/20070206/default.htm 

February 6, 2007 - Soft Dollar Guidance: Use of Commission Payments by Fiduciaries - Addresses the SEC's revised guidance on the scope of "brokerage and research services" and client commission arrangements, applicable to money managers, including bank fiduciaries. www.occ.treas.gov/ftp/bulletin/2007-7.html 

February 5, 2007 - Simple Strategies for Managing Money: New How-to Guide from the FDIC Issued for National Consumer Protection Week - "Be prepared." That motto isn't just for Scouts. It's solid advice for anyone trying to manage their money in a world full of opportunities...and occasional hazards. That's why the latest issue of FDIC Consumer News (Winter 2006/2007), the quarterly newsletter published by the Federal Deposit Insurance Corporation, is a special edition entitled "Be Prepared, Be Informed, Be in Charge." www.fdic.gov/news/news/press/2007/pr07011.html 

February 5, 2007 - Surveys and Reports - January 2007 Senior Loan Officer Opinion Survey on Bank Lending Practices - The January 2007 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. The survey also contained special questions about changes in terms on commercial real estate loans during 2006, the effects of the 2005 bankruptcy reforms, and expected changes in asset quality over 2007. www.federalreserve.gov/boarddocs/snloansurvey/200701/default.htm 

February 5, 2007 - NCUA - Letter to Credit Unions 07-CU-02 - Reminder of Supervisory Guidance for Financial Institutions Affected by Hurricane Katrina.  www.ncua.gov/letters/2007/CU/07-CU-02.pdf 

February 5, 2007 - OTS Kicks Off Consumer Protection Week - The Office of Thrift Supervision kicks off a series of consumer protection and awareness initiatives today that will highlight throughout the week various issues for thrift institutions and resources available to consumers on financial literacy and education. www.ots.treas.gov/docs/7/777004.html 

February 5, 2007 - Licensing Manual Update, January 2007 - The revised "Change in Bank Control" booklet is on the Web site for immediate use. It discusses rebuttals of control and acting in concert filings. www.occ.treas.gov/corpbook/group3/public/pdf/cbca.pdf 

February 5, 2007 - Hurricane Katrina Reminder of Supervisory Guidance for Financial Institutions Affected by Hurricane Katrina - The federal financial regulatory agencies have jointly issued the attached reminder of Supervisory Guidance for Financial Institutions Affected by Hurricane Katrina (Katrina Guidance Reminder). The Katrina Guidance Reminder reemphasizes that working constructively with borrowers is in the long-term best interest of both the financial institution and the customer.
Press Release: www.fdic.gov/news/news/financial/2007/fil07014.html 
Press Release: www.federalreserve.gov/boarddocs/srletters/2007/SR0703.htm 
Press Release: www.federalreserve.gov/boarddocs/SRLETTERS/2007/SR0703.htm 

February 5, 2007 - 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. www.fdic.gov/news/news/press/2007/pr07010.html

February 2, 2007 - NCUA General Counsel Opinion 06-1134 - Examiner Access to Federal Credit Union Board Minutes.   www.ncua.gov/RegulationsOpinionsLaws/opinion_letters/2006/06-1134.pdf 

February 2, 2007 - NCUA General Counsel Opinion 06-1224 - Permissibility of FCU Making Member Business Loan to Law Firm.   www.ncua.gov/RegulationsOpinionsLaws/opinion_letters/2006/06-1224.pdf 

February 2, 2007 - Deposit Insurance Coverage Online Deposit Insurance Estimator Now Available in Spanish - The FDIC has launched a new Spanish language version of its Electronic Deposit Insurance Estimator for consumers, also known as "Online EDIE." www.fdic.gov/news/news/financial/2007/fil07013.html 
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February 1, 2007 - Measurement of Monetary Aggregates across Countries - Yueh-Yun C. O'Brien - This paper compares the compositions and definitions of monetary aggregates being published by the 30 countries belonging to the Organization for Economic Co-operation and Development and 10 non-OCED countries.  www.federalreserve.gov/pubs/feds/2007/200702/index.html 

February 1, 2007 - Statistical Release - G.5 Foreign Exchange.   www.federalreserve.gov/Releases/G5/Current/default.htm 

February 1, 2007 - The Federal Reserve Board on Thursday announced the issuance of an Order of Prohibition against Perry D. Lane, former president, chief executive officer and director of Exchange Bank of Missouri, Fayette, Missouri. www.federalreserve.gov/boarddocs/press/Enforcement/2007/20070201/default.htm 

 

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