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January 28, 2005 - NCUA - United States Treasurer Anna Cabral To
Keynote NCUA's Access Across America Economic Empowerment Summit in
Des Moines, Iowa February 9
January 28, 2005 - NCUA - Matz Shares Concerns for the Future of
Credit Unions - In her first speech of 2005, NCUA Board Member
Debbie Matz identified five concerns for the future of credit unions
and shared many initiatives that credit union leagues are taking to
address those issues.
January 28, 2005 - FRB Statistical Release - U.S. Reserve Assets; and
Foreign Official Assets Held at Federal Reserve Banks
January 28, 2005 - Banking Agencies Announce Implementation of
Web-Based Central Data Repository for Bank Financial Data - The
federal banking agencies announced today a new implementation plan
for the Central Data Repository -an Internet-based system created to
modernize and streamline how the agencies collect, validate, manage,
and distribute financial data submitted by banks in quarterly "Call
Reports." While banks will not be required to submit Call Report
data to the CDR until October 2005, the agencies plan to make the
CDR available for testing by banks and software vendors early this
January 28, 2005 - The Federal Reserve Board on Friday announced the
termination of the enforcement actions listed below. Terminations of
enforcement actions are listed on the Federal Reserve's public web
January 28, 2005 - The Federal Reserve Board on Friday announced the
execution of a Written Agreement by and between the Asian Bank,
Philadelphia, Pennsylvania and the Federal Reserve Bank of
January 28, 2005 - NCUA Chairman Johnson Highlights 2004
Accomplishments and Outlines 2005 Agenda.
January 27, 2005 - Does Trading Frequency Affect Subordinated Debt
Spreads? - Christopher Bianchi, Diana Hancock, and Laura Kawano
2005-8 - Because illiquid bonds may be relatively poorly priced, the
ability to infer investor perceptions of changes in a banking
organization's financial health from such bonds may be obscured.
January 27, 2005 - Agencies Issue Statement on Implementation of
Basel II Framework - The federal banking and thrift agencies today
released an interagency statement on implementation of the Basel II
framework and the qualification process for the framework's
January 27, 2005 - The Federal Reserve Board on Thursday announced
the issuance of a consent Order to Cease and Desist against Riggs
National Corporation, Washington, D.C., a bank holding company.
January 27, 2005 - OCC Issues Modified Consent Order Against Riggs
Bank, N.A. - The Office of the Comptroller of the Currency announced
today a modification of the consent order of May 13, 2004 against
Riggs Bank, N.A.
January 26, 2005 -The Federal Reserve Board on Wednesday announced
its approval of the applications under section 3 of the Bank Holding
Company Act, the Bank Merger Act, and section 9 of the Federal
Reserve Act for Westamerica Bancorporation ("Westamerica"), San
Rafael, California, to merge with Redwood Empire Bancorp, Santa
Rosa, California, and by Westamerica's subsidiary bank, Westamerica
Bank, to effect the following transactions: (1) merge with National
Bank of the Redwoods ("Redwood Bank"); and (2) retain and operate
branches at the location of Redwood Bank's main office and branches.
January 26, 2005 - 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.
January 25, 2005 - Basel II White Papers - The Potential Impact of
Explicit Basel II Operational Risk Capital Charges on the
Competitive Environment of Processing Banks in the U.S.
January 25, 2005 - The Federal Reserve Board on Tuesday announced
its approval of the application filed by The Colonial BancGroup,
Inc., Montgomery, Alabama, to acquire 100 percent of the voting
shares of Union Bank of Florida, Lauderhill, Florida.
January 25, 2005 - NCUA General Counsel Opinion 03-0736 - Providing
Investment Service to Nonmembers
January 24, 2005 - Home Mortgage Disclosure Act: Exemption Threshold
for Depository Institutions under Regulation C - This bulletin
announces a recently published final rule relating to the Home
Mortgage Disclosure Act. In the rule, the Federal Reserve Board
amended the staff commentary that interprets the requirements of
Regulation C. By this amendment, the Board raised the asset size
exemption threshold for depository institutions that are required to
report data under HMDA. The adjustment became effective January 1.
January 24, 2005 - NCUA - Credit Unions Added Over 27.4 Million
Potential New Members In Underserved Areas Across America in 2004.
January 24, 2005 - Kevin Mukri Named Director for Press Relations -
The Office of the Comptroller of the Currency announced today the
selection of Kevin M. Mukri as Director for Press Relations. Mr.
Mukri succeeds Robert M. Garsson, who became Deputy Comptroller for
Public Affairs last year.
January 11, 2005 - The Federal Reserve Bank of Kansas City's latest
edition of Financial Industry Perspectives features an overview of
banking conditions in the Tenth Federal Reserve District and the
results of a survey of the District's community banks. Additionally,
the publication includes research on technology outsourcing from a
community bank perspective and a look at the adoption of corporate
governance practices by community banks in the Tenth District.
January 19, 2005 - NCUA General Counsel Opinion 05-0117 - Split
Dollar Life Insurance
January 19, 2005 - Beige Book - Informal review by the Federal Reserve Banks
of current economic conditions in their Districts
January 19, 2005 - Treasury's Financial Crimes Enforcement Network New
Secure Web-Based Distribution System for 314(a) Search Requests - Treasury's
Financial Crimes Enforcement Network plans to release its 314(a) search
requests to financial institutions through a new secure Web-based system.
January 19, 2005 - Governor Ben S. Bernanke - Productivity At the C. Peter
McColough Roundtable Series on International Economics, Council on Foreign
Relations, New York, New York.
January 18, 2005 - Governor Susan Schmidt Bies - The Economy and Challenges
in Retirement Savings To Financial Executives International Baltimore
Chapter, Baltimore, Maryland.
January 18, 2005 - Acting Comptroller Williams Issues Statement Regarding
FDIC Proposal to Expand Special Examination Authority - Acting Comptroller
of the Currency Julie L. Williams spoke today in opposition to a proposal to
expand the Federal Deposit Insurance Corporation's special examination
January 18, 2005 - Letter to Stakeholders Fourth Quarter 2004 Edition of the
FDIC's Letter to Stakeholders - The FDIC has issued its quarterly Letter to
Stakeholders, which reports on the FDIC's priorities and activities for the
fourth quarter of 2004.
January 18, 2005 - The Federal Reserve Board on Tuesday announced its
approval of the proposal filed by Toronto-Dominion Bank, Toronto, Canada, to
acquire 51 percent of the voting shares of Banknorth Group, Inc., and its
subsidiary bank, Banknorth, National Association, both in Portland, Maine.
January 18, 2005 - Matz Announces April PALS Workshop to Help Credit Unions
Reach "New Markets, New Members, and New Business" - NCUA Board Member
Debbie Matz has announced a free Partnering and Leadership Successes
workshop on April 28 in St. Louis to help credit unions gain new members and
new business by reaching new markets.
January 18, 2005 - OCC Releases CRA Evaluations For 25 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 December 15, 2004 through January 14, 2005.
January 14, 2005 - FinCEN's Web-based 314(a) Distribution System - This
alert transmits to national banks and federal branches a memorandum issued
by the Financial Crimes Enforcement Network that announces plans to
introduce a new Web-based 314(a) delivery and reporting system in February.
January 14, 2005 - Deposit Insurance Coverage Video-Seminar on Deposit
Insurance Coverage for Bank Employees - The FDIC has produced a
video-seminar for bankers on the FDIC's rules and requirements for deposit
insurance coverage. The one and one-half hour video is a comprehensive
seminar on deposit insurance coverage, explaining in detail the rules and
requirements for all account ownership categories, with illustrated
January 14, 2005 - Industrial Production And Capacity Utilization -
Industrial production increased 0.8 percent in December after gains of 0.2
percent in November and 0.8 percent in October. In the manufacturing sector,
output rose 0.7 percent in December, and increases occurred in most major
January 13, 2005 - "GSE Risks Need To Be Mitigated": St. Louis Fed's Poole -
Government Sponsored Enterprises Fannie Mae and Freddie Mac face five major
sources of business risk: credit risk, prepayment risk, interest rate risk
from mismatched duration of assets and liabilities, liquidity risk and
operational risk, according to William Poole, president of the Federal
Reserve Bank of St. Louis.
January 13, 2005 - NCUA - Board Member Matz votes for consumer protections
to strengthen NCUA's rules on conversions to private insurance and mutual
January 13, 2005 - NCUA - Statement of NCUA Chairman JoAnn Johnson on the
Final Rule Amending Part 708b Mergers of Federally Insured Credit Unions;
Voluntary Termination or Conversion of Insured Status
January 13, 2005 - NCUA - Statement of NCUA Chairman JoAnn Johnson on the
Final Rule Amending Part 708a Conversions of Insured Credit Unions to Mutual
January 13, 2005 - OCC Announces Six Enforcement Actions and Two
Terminations - The Office of the Comptroller of the Currency today
announced six new enforcement actions taken against national banks
and individuals currently and formerly affiliated with national
banks and two terminations of existing enforcement actions.
January 13, 2005 - NCUA - Final Regulation - Loan Interest Rates
January 13, 2005 - NCUA - Final Regulation - Mergers of
Federally-Insured Credit Unions; Voluntary Termination or Conversion
of Insured Status
January 13, 2005 - FRB Statistical Release - G.20 Finance Companies
January 13, 2005 - NCUA - Results of January 13, 2005 NCUA Board
January 13, 2005 - NCUA Board Issues Final Rule on Conversion
Disclosure Rules for Insurance and Credit Union Conversions to
Mutual Savings Banks
January 13, 2005 - NCUA - Draft items for the January 13, 2005 NCUA
board meeting are available
January 12, 2005 - Vice Chairman Roger W. Ferguson, Jr.- Recessions
and Recoveries Associated with Asset-Price Movements: What Do We
Know? At the Stanford Institute for Economic Policy Research,
January 12, 2005 - Proper Disposal of Consumer Information: Final
Rule - This bulletin announces that on December 28, 2004, the OCC,
Federal Reserve Board, FDIC, and OTS jointly issued a final rule
that requires financial institutions to adopt measures for properly
disposing of consumer information derived from credit reports.
January 12, 2005 - Acting Comptroller Williams Urges New Approach to
Disclosures To Enhance Consumer Protection - Acting Comptroller of
the Currency Julie L. Williams today urged bankers, government
officials, and consumer advocates to work together to improve our
current system of disclosure for financial consumers.
January 12, 2005 - Econometric Tests of Asset Price Bubbles: Taking
Stock - Refet S. Gurkaynak - Can asset price bubbles be detected?
This survey of econometric tests of asset price bubbles shows that,
despite recent advances, econometric detection of asset price
bubbles cannot be achieved with a satisfactory degree of certainty.
January 11, 2005 - The Federal Reserve Board on Tuesday released the
minutes of its discount rate meetings from November 22 through
December 14, 2004.
January 11, 2005 - FDIC Makes Public November 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 November.
No administrative hearing is scheduled for January.
January 10, 2005 Legal Interpretation - Letter to HSBC Bank USA,
National Association, New Castle, Delaware, granting an exemption
from the quantitative limits of section 23A of the Federal Reserve
Act and Regulation W.
January 9, 2005 - Governor Donald L. Kohn Central Bank Communication
- At the Annual Meeting of the American Economic Association,
January 7, 2005 - Unauthorized Banking: Sunra International Bank &
Trust Corporation, Republic of Palau, License Revocation - This
alert states that the Financial Institutions Commission, Republic of
Palau, has advised the OCC that it revoked the banking license of
Sunra International Bank & Trust Corporation (Sunra) on January 6,
January 7, 2005 - Precautionary Savings Motives and Tax Efficiency
of Household Portfolios: An Empirical Analysis Gene Amromin - Tax
efficiency is the dominant consideration in theoretical portfolio
models that allow for both taxable and tax-deferred accounts.
Investors are advised to locate higher-tax assets in their
tax-deferred accounts, which in the Unites States commonly
translates into "holding bonds inside TDAs and holding equities
January 7, 2005 - The Reform of October 1979: How It Happened and
Why David E. Lindsey, Athanasios Orphanides, and Robert H. Rasche -
This study offers a historical review of the monetary policy reform
of October 6, 1979, and discusses the influences behind it and its
significance. We lay out the record from the start of 1979 through
the spring of 1980, relying almost exclusively upon contemporaneous
sources, including the recently released transcripts of Federal Open
Market Committee meetings during 1979.
January 7, 2005 - FRB Statistical Release G.19 Consumer Credit
January 7, 2005 - The Federal Reserve Board on Friday released
figures that indicate the Federal Reserve Banks distributed
approximately $18.086 billion of their $23.541 billion total income
to the U.S. Treasury during 2004.
January 7, 2005 - The Federal Reserve Board on Friday named eleven
new members to its Consumer Advisory Council for three-year terms
and designated a new Chair and Vice Chair of the Council for 2005.
January 7, 2005 - Vice Chairman Roger W. Ferguson, Jr. -
Interpreting Labor Market Statistics in the Context of Monetary
Policy To the 2005 Annual Convention, Allied Social Science
Associations, Philadelphia, Pennsylvania
January 7, 2005 - Governor Ben S. Bernanke - Panel Discussion: The
Transition from Academic to Policymaker At the Annual Meeting of the
American Economic Association, Philadelphia, Pennsylvania
January 10, 2005 - Business-to-Business Transactions Dominate
E-Commerce: St. Louis Fed Analysis - The rise of E-Bay and the
increase in consumers who opted to go online to do their holiday
shopping have made headlines, but an analysis by the Federal Reserve
Bank of St. Louis indicates that the volume of business-to-business
e-commerce transactions far exceeds that of business-to-consumer
January 3, 2005 - St. Louis Fed Analysis: Why Are Jobs Not Lasting
As Long? - In spite of numerous news stories on why job stability
has declined, academic research has not confirmed that. Now,
however, new evidence from the Federal Reserve Bank of St. Louis
suggests that job stability has indeed declined.
January 3, 2005 - St. Louis Fed Promotes Francis, Price, Wilson and
January 6, 2005 - NCUA - Agenda for the NCUA Board meeting on
January 13, 2005 is available
January 6, 2005 - NCUA Terminates Cease and Desist Order Against
Northeast Arkansas Federal Credit Union
January 6, 2005 - Remarks by Governor Donald L. Kohn At the
Wharton/Sloan/Mercer Oliver Wyman Institute Conference, "Financial
Risk Management in Practice," Philadelphia, Pennsylvania January 6,
January 5, 2005 - NCUA General Counsel Opinion 04-1130 - Exception
to Member Business Loan Definition
January 5, 2005 - The Federal Reserve Board on Wednesday announced
the execution of a Written Agreement by and among Prineville
Bancorporation, Prineville, Oregon; the Community First Bank,
Prineville Oregon; the Oregon Division of Financial and Corporate
Securities, Salem, Oregon; and the Federal Reserve Bank of San
January 5, 2005 - FDIC Issues January 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 October
January 4, 2005 - Statistical Release - Minority-Owned Banks
January 4, 2005 - Federal Open Market Committee Minutes of the
December 14, 2004, meeting
January 4, 2005 - FFIEC Information Technology Examination Handbook
- The Federal Financial Institutions Examination Council completed
its update of the 1996 FFIEC Information Systems Examination
Handbook earlier this year with the release of the last two of
twelve booklets that now comprise the new FFIEC Information
Technology Examination Handbook.
January 3, 2005 - Statistical Release - E.15 Agricultural Finance
Databook - These data are derived from quarterly sample surveys
conducted by the Federal Reserve System during the first full week
of the second month of each quarter. The data are generally released
at month-end in March, June, September, and December.
January 3, 2005 - The Magnitude and Cyclical Behavior of Financial
Market Frictions Andrew T. Levin, Fabio M. Natalucci, and Egon
Zakrajsek - We quantify the cross-sectional and time-series behavior
of the wedge between the cost of external and internal finance by
estimating the structural parameters of a canonical debt-contracting
model with informational frictions.
January 3, 2005 - Alternative Estimates of the Presidential Premium
Sean D. Campbell and Canlin Li - Since the early 1980s much
research, including the most recent contribution of Santa-Clara and
Valkanov (2003), has concluded that there is a stable, robust and
significant relationship between Democratic presidential
administrations and robust stock returns.
January 3, 2005 - Statistical Release - G.5A Foreign Exchange Rates
(Annual) - The Table Below Shows The Average Rates Of Exchange In
2004 Together With Comparable Figures For Other Years.
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