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

The Community Banker
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Bank Regulatory News

July 2004

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July 30, 2004 - NCUA Combined Annual Performance Report 2003 And Initial Annual Performance Plan 2005 http://www.ncua.gov/ReportsAndPlans/plans-and-reports/NCUACombinedReport2003_2005.pdf 

July 30, 2004 - Task Force Affiliation with the U.S. Department of State: Task Force on International Banking Compliance - This alert advises that Alert 2004-14, dated July 20, 2004, is hereby rescinded and is no longer effective or operative. www.occ.treas.gov/ftp/alert/2004-14(rev).txt 

July 29, 2004 - Model Notices for Furnishing Negative Information - The Board of Governors of the Federal Reserve System published the attached final rule in the Federal Register on June 15, 2004.  The final rule, which became effective on July 16, 2004, implemented revisions to the Fair Credit Reporting Act.
Press Release: www.occ.treas.gov/ftp/bulletin/2004-35.txt 
Attachment: www.occ.treas.gov/fr/fedregister/69fr33281.pdf 

July 29, 2004 - Guidance on Customer Identification Programs - The federal banking, thrift, and credit union regulatory agencies, the Financial Crimes Enforcement Network and the Department of the Treasury have jointly issued interpretive guidance on the application of the "Customer Identification Program" regulation.  www.fdic.gov/news/news/financial/2004/fil9004.html 

July 29, 2004 - NCUA to host Access Across America Economic Empowerment Summit in Albuquerque, NM September 13th - National Credit Union Administration Chairman JoAnn Johnson announced today that the agency will sponsor an Access Across America Economic Empowerment Summit in Albuquerque, New Mexico on September 13. www.ncua.gov/news/press_releases/2004/NR04-0729.htm 

July 29, 2004 - New Guidance for Examiners, Financial Institutions and Technology Service Providers on Management and Outsourcing Technology Services  - The Federal Financial Institutions Examination Council has issued booklets with guidance on evaluating management and outsourcing technology services. The booklets are the ninth and tenth in a series of updates, which will eventually replace the 1996 FFIEC Information Systems Examination Handbook and comprise the new FFIEC Information Technology Examination Handbook. www.fdic.gov/news/news/financial/2004/fil8904.html 

July 29, 2004 - Statistical Release - G20 Finance Companies www.federalreserve.gov/releases/g20/current/default.htm 

July 28, 2004 - Beige Book - Informal review by the Federal Reserve Banks of current economic conditions in their Districts www.federalreserve.gov/FOMC/BeigeBook/2004/20040728/default.htm 

July 28, 2004 - NCUA - Matz Enhances PALS Best Practices Website - Board Member Debbie Matz has enhanced NCUA's Partnering and Leadership Successes Best Practices Website with a new search feature that helps users find best practices from credit unions in their states. www.ncua.gov/news/press_releases/2004/NR04-0728.htm 

July 28, 2004 - Agencies Issue Final Rule on Capital Requirements for Asset-Backed Commercial Paper Programs - The four federal bank and thrift regulatory agencies are implementing more risk-sensitive, risk-based capital standards for credit exposures arising from a banking organization's involvement with Asset-Backed Commercial Paper programs.  www.fdic.gov/news/news/financial/2004/fil8704.html 

July 28, 2004 - Agencies Issue Bank Secrecy Act Examination Procedures Relating to Section 326 of the USA PATRIOT Act - The federal financial institutions regulatory agencies today issued Bank Secrecy Act procedures for examining each domestic and foreign banking organization's customer identification program which is required by section 326 of the USA PATRIOT Act (codified in the B.S.A. at 31 U.S.C. 5318(l)). The procedures are designed to help financial institutions fully implement the new CIP requirements and facilitate a consistent supervisory approach among the federal financial institutions regulatory agencies.
Press Release: www.federalreserve.gov/boarddocs/press/bcreg/2004/20040728/default.htm   
Press Release: www.federalreserve.gov/boarddocs/SRLETTERS/2004/sr0413.htm 
Press Release: www.fdic.gov/news/news/press/2004/pr7904.html 
Press Release: www.occ.treas.gov/scripts/newsrelease.aspx?JNR=1&Doc=DCF5KY5Y.xml 
Attachment: www.occ.treas.gov/ftp/release/2004-64b.pdf 
Attachment: www.occ.treas.gov/ftp/bulletin/2004-34.doc 
Attachment: www.ots.treas.gov/docs/7/77429.html 
Attachment: www.ncua.gov/news/press_releases/2004/JR04-0728.pdf 

July 27, 2004 - FDIC Names Lee Bowman National Coordinator for Community Affairs - The Federal Deposit Insurance Corporation announced today that Lee Bowman, a manager and director of affordable lending and community development programs in Washington and Baltimore for the last 28 years, has joined the FDIC as the new National Coordinator for Community Affairs. www.fdic.gov/news/news/press/2004/pr7804.html 

July 27, 2004 - The Federal Reserve Board on Tuesday announced the approval of an application by Banco de Chile, Santiago, Chile, to establish a branch in Miami, Florida. www.federalreserve.gov/boarddocs/press/orders/2004/20040727/default.htm 

July 26, 2004 - Counterfeit Cashier's Checks of Indian River National Bank - The above-named bank has reported that counterfeit cashier's checks issued in the bank's name are being used, both in the United States and internationally, in business transactions.  To date, the checks have been used primarily for the purchase of goods acquired via the Internet. www.occ.treas.gov/ftp/alert/2004-16.txt 

July 26, 2004 - The Federal Financial Institutions Examination Council today announced the availability of data for the year 2003 regarding mortgage lending transactions at 8,121 financial institutions covered by the Home Mortgage Disclosure Act (HMDA) in metropolitan statistical areas throughout the nation. www.ffiec.gov/hmcrpr/hm072604.htm

July 26, 2004 - The Federal Financial Institutions Examination Council today announced the availability of data on small business, small farm, and community development lending reported by certain commercial banks and thrifts. www.ffiec.gov/hmcrpr/cra072604.htm 

July 26, 2004 - The Federal Reserve Board on Monday released final amendments to Regulation CC and its commentary to implement the Check Clearing for the 21st Century Act (Check 21 Act), which was enacted on October 28, 2003 and becomes effective on October 28, 2004. www.federalreserve.gov/boarddocs/press/bcreg/2004/20040726/default.htm 

July 26, 2004 - The Federal Reserve Board, the New York State Banking Department, and the Illinois Department of Financial and Professional Regulation today announced the execution of a Written Agreement by and among ABN AMRO Bank, N.V., Amsterdam, The Netherlands, ABN AMRO's branch in New York, New York, the Federal Reserve Bank of Chicago, the Federal Reserve Bank of New York, the New York State Banking Department, and the Illinois Department of Financial and Professional Regulation. www.federalreserve.gov/boarddocs/press/Enforcement/2004/20040726/default.htm 

July 26, 2004 - Board announces plans to support development of International Journal of Central Banking - The Federal Reserve Board on Monday announced plans to support the development of a new publication focused on central bank theory and practice and issued a call for research papers. www.federalreserve.gov/boarddocs/press/other/2004/20040726/default.htm 
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July 23, 2004 - The Federal Reserve on Friday requested public comment on proposed revisions that would better align the bank holding company rating system with current supervisory practices. www.federalreserve.gov/boarddocs/press/bcreg/2004/20040723/default.htm

July 23, 2004 - NCUA Proposes Additional Disclosures and Member Protections for Savings Bank and Insurance Conversions - The National Credit Union Administration Board issued proposals to update and amend Parts 708a and 708b of NCUA regulations to establish communication and disclosure requirements to ensure members are fully and properly informed before voting to convert from federal to nonfederal insurance, to terminate federal insurance, or to convert to a mutual savings bank. www.ncua.gov/news/press_releases/2004/NR04-0722-2.htm 

July 23, 2004 - Guidance on Information Technology Management and Outsourcing Technology Services Released by Federal Financial Institution Regulators - The Federal Financial Institutions Examination Council today issued revised guidance for examiners, financial institutions and technology service providers on two topics: managing financial institutions' information technology activities and outsourcing technology services.   www.ots.treas.gov/docs/7/77428.html 

July 22, 2004 - Recommendations Sought to Reduce Regulatory Burden From Certain Consumer Protection Regulations The banking and thrift regulatory agencies are asking for recommendations on how to reduce regulatory burden from consumer protection regulations dealing with account/deposit relationships and miscellaneous consumer rules. www.fdic.gov/news/news/financial/2004/fil8604.html 

July 22, 2004 - NCUA - Share Insurance; Living Trust Accounts - NCUA is adopting as a final rule without change the interim rule amending Part 745 of its regulations concerning share insurance coverage for beneficial interests in living trust accounts. www.ncua.gov/RegulationsOpinionsLaws/RecentFinalRegs/F-745.pdf 

July 22, 2004 - NCUA - Health Savings Accounts- The NCUA is amending its regulations governing a federal credit union's authority to act as trustee or custodian to authorize FCUs to serve as trustee or custodian for Health Savings Accounts www.ncua.gov/RegulationsOpinionsLaws/RecentFinalRegs/F-724-721.pdf 

July 22, 2004 - Counterfeit Warrants: State of Florida, Department of Financial Services, Counterfeit Warrants - This issuance notifies national banks and regulatory agencies that the Florida Department of Financial Services has reported a significant increase in the circulation of counterfeit warrants (checks) bearing its name. www.occ.treas.gov/ftp/alert/2004-15.txt 

July 22, 2004 - Banking Agencies Delay Rollout of Web-Based Central Data Repository for Bank Financial Data - The federal banking agencies announced today they will postpone the rollout of the Central Data Repository -an Internet-based system created to modernize and streamline how the agencies collect, validate and distribute financial data, or "Call Reports," submitted by banks.
Press Release:  www.federalreserve.gov/boarddocs/press/other/2004/20040722/default.htm   
Press Release: www.fdic.gov/news/news/press/2004/pr7704.html 
Press Release: www.occ.treas.gov/scripts/newsrelease.aspx?JNR=1&Doc=IW7K14YW.xml

July 22, 2004 - The Federal Reserve Board on Thursday announced its approval of the notice under section 4 of the Bank Holding Company Act by Barclays Bank PLC, London, England, to engage in physical commodity trading activities on a limited basis as an activity that is complementary to the financial activity of engaging regularly as principal in commodity derivatives. www.federalreserve.gov/boarddocs/press/orders/2004/20040722/default.htm

July 22, 2004 - Proposed Rulemaking Relating to International Banking - The FDIC has proposed amendments relating to international banking by insured state nonmember banks and insured U.S. branches of foreign banks. Among the proposed revisions are amendments to reorganize existing rules for clarity; expand the availability of general consent for foreign branching and investments in certain circumstances; address the transferability of grandfathered U.S. branches; provide for asset maintenance based on each insured branch's daily third-party liabilities; and address certain supervisory issues related to foreign banks.  www.fdic.gov/news/news/financial/2004/fil8504.html

July 22, 2004 - Reports to the Congress - Monetary Policy Report to the Congress www.federalreserve.gov/BoardDocs/HH/2004/July/fullreport.htm 

July 21, 2004 - Letter to Credit Unions 04-CU-09 - ATMs: Triple DES Encryption - The purpose of this letter is to ensure credit unions are aware of the new minimum encryptions standards being required by the major ATM switch network vendors. www.ncua.gov/letters/2004/04-CU-09.pdf 

July 21, 2004 - Guidance on the Risks Associated With Instant Messaging - The FDIC is providing guidance to financial institutions on the risks associated with publicly available instant messaging and network file-sharing. This guidance includes background information on the risks and how they can be mitigated through an effective management program. www.fdic.gov/news/news/financial/2004/fil8404.html 

July 21, 2004 - Statistical Release - Minority-Owned Banks www.federalreserve.gov/Releases/mob/current/default.htm 

July 21, 2004 - Vice Chairman Roger W. Ferguson, Jr. - A Retrospective on Business-Cycle Recoveries: Are "Jobless" Recoveries the New Norm? The Exchequer Club of Washington Luncheon, Washington, D.C. www.federalreserve.gov/boarddocs/speeches/2004/20040721/default.htm 

July 20, 2004 - NCUA - Statement of Chairman JoAnn Johnson Before the Subcommittee Committee on Financial Institutions and Consumer Credit of the Committee on Financial Services on Credit Union Regulatory Improvements.   www.ncua.gov/news/speeches/2004/Johnson0720Testimony.pdf 

July 20, 2004 - OCC Announces New Electronic Interpretations and Actions - July 2004.  www.occ.treas.gov/interp/jul04/intjul04.htm 

July 20, 2004 - Task Force Claiming Affiliation with the U.S. Department of State - This issuance is intended to make national banks aware of an organization falsely claiming to be operating as an anti-money-laundering task force affiliated with or sponsored by the U.S. Department of State. www.occ.treas.gov/ftp/alert/2004-14.txt 

July 20, 2004 - Community Reinvestment Act Regulations: Joint Interim Rule - This bulletin announces that the OCC, OTS, Federal Reserve, and FDIC have issued a joint interim rule for CRA regulations.
Press Release: www.occ.treas.gov/ftp/bulletin/2004-33.txt 
Attachment: www.occ.treas.gov/fr/fedregister/69fr41181.pdf 

July 20, 2004 - Agencies Issue Final Rule on Capital Requirements for Asset-Backed Commercial Paper Programs - The federal banking and thrift regulatory agencies today issued a final rule amending their risk-based capital standards.
Press Release: www.federalreserve.gov/boarddocs/press/bcreg/2004/20040720/default.htm  
Press Release: www.fdic.gov/news/news/press/2004/pr7604.html 
Press Release: www.occ.treas.gov/scripts/newsrelease.aspx?JNR=1&Doc=3CW28UHG.xml 
Attachment: www.occ.treas.gov/ftp/release/2004-62a.pdf 
Press Release: www.ots.treas.gov/docs/7/77427.html 

July 20, 2004 - The Federal Reserve Board on Tuesday announced its approval of the application and notice filed by North Fork Bancorporation, Melville, New York, to acquire GreenPoint Financial Corp., and its subsidiary bank, GreenPoint Bank, both in New York, New York. www.federalreserve.gov/boarddocs/press/orders/2004/20040720/default.htm 

July 20, 2004 - 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.  www.federalreserve.gov/boarddocs/HH/2004/July/testimony.htm 

July 19, 2004 - FFIEC Information Technology Examination Handbook: FFIEC IT Booklets on Outsourcing Technology Services and Management - This bulletin announces that the FFIEC has issued two booklets: the "Outsourcing Technology Services Booklet" and the "Management Booklet." These are the latest in a series that will update and replace the "1996 FFIEC Information Systems Examination Handbook."
Press Release: www.occ.treas.gov/ftp/bulletin/2004-32.txt 
Attachment: www.occ.treas.gov/ftp/bulletin/2004-32a.pdf 

July 19, 2004 - John Quill Named Deputy Comptroller for Special Supervision - The Office of the Comptroller of the Currency today announced that John W. Quill has been named Deputy Comptroller for Special Supervision. He will report to Timothy Long, Senior Deputy Comptroller for Mid-Size/Community Bank Supervision. www.occ.treas.gov/scripts/newsrelease.aspx?Doc=MH5U8J0T.xml 

July 19, 2004 - The Delayed Response To A Technology Shock. A Flexible Price Explanation Robert J. Vigfusson.  www.federalreserve.gov/Pubs/IFDP/2004/810/ifdp810.pdf 

July 19, 2004 - Good News Is No News? The Impact of Credit Rating Changes on the Pricing of Asset-Backed Securities John Ammer; Nathanael Clinton.   www.federalreserve.gov/Pubs/IFDP/2004/809/ifdp809.pdf 

July 19, 2004 - The Federal Reserve Board on Monday announced its approval of the application under the Bank Holding Company Act by LBT Bancshares, Inc., Litchfield, Illinois, to acquire control of Security Bancshares, Inc. and its wholly owned subsidiary, Security National Bank, both in Witt, Illinois. www.federalreserve.gov/boarddocs/press/orders/2004/20040719/default.htm 

July 19, 2004 - Household Debt Service and Financial Obligations Ratios - The household debt service ratio is an estimate of the ratio of debt payments to disposable personal income. Debt payments consist of the estimated required payments on outstanding mortgage and consumer debt. www.federalreserve.gov/Releases/housedebt/default.htm 

July 16, 2004 - The Federal Reserve Board on Friday announced its intention to withdraw proposed amendments to its Community Reinvestment Act regulations.  www.federalreserve.gov/boarddocs/press/bcreg/2004/20040716/default.htm 
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July 16, 2004 - OTS to Modify CRA Small Institution Benchmark - The Office of Thrift Supervision announced today its intent to issue a final rule modifying the existing "small institution" test for thrifts under the Community Reinvestment Act. www.ots.treas.gov/docs/7/77426.html 

July 16, 2004 - OCC Will Withdraw CRA Regulatory Proposal - The Office of the Comptroller of the Currency announced today its intention to withdraw proposed amendments to its Community Reinvestment Act regulations. www.occ.treas.gov/scripts/newsrelease.aspx?Doc=062ZM1RY.xml 

July 16, 2004 - NCUA - Matz Links "American Ideals" - to Credit Unions' Success NCUA Board Member Addresses NAFCU Annual Conference in Canada www.ncua.gov/news/press_releases/2004/NR04-0716.htm 

July 16, 2004 - Governor Susan Schmidt Bies - Using Enterprise-Wide Risk Management to Effectively Execute Business Strategies at the Risk Management Association and Consumer Bankers Association Retail Risk Conference, Chicago, Illinois.  www.federalreserve.gov/boarddocs/speeches/2004/20040716/default.htm 

July 15, 2004 - Governor Susan Schmidt Bies - Business Financial Conditions and Relationships with Bankers At the Financial Executives International Chicago Chapter Dinner, Chicago, Illinois www.federalreserve.gov/boarddocs/speeches/2004/20040715/default.htm 

July 15, 2004 - NCUA Newsletter for June - July 2004.  http://www.ncua.gov/news/newsletter/NCUA/04JuneJuly.pdf   

July 15, 2004 - OCC Releases CRA Evaluations For 26 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 June 15, 2004 through July 14, 2004. www.occ.treas.gov/scripts/newsrelease.aspx?Doc=EX5Q95TR.xml 

July 15, 2004 - OCC Announces 17 Enforcement Actions and Four Terminations - The Office of the Comptroller of the Currency today announced 17 new enforcement actions taken against national banks and individuals currently and formerly affiliated with national banks and four terminations of existing enforcement actions. www.occ.treas.gov/ftp/release/2004-58.htm 

July 15, 2004 - OCC Testifies on Challenges Faced in Combating Money Laundering - Daniel P. Stipano, Deputy Chief Counsel, Jennifer Kelly, Deputy Comptroller, Midsize and Credit Card Banks, and Lester Miller, National Bank Examiner, testified today before the Senate Government Affairs Permanent Subcommittee on Investigations.
Press Release: www.occ.treas.gov/scripts/newsrelease.aspx?Doc=W4LNFVEZ.xml 
Attachment:  www.occ.treas.gov/ftp/release/2004-57a.pdf 
Attachment:  www.occ.treas.gov/ftp/release/2004-57b.pdf  

July 15, 2004 - Guidance on Information Technology Management and Outsourcing Technology Services Released by Federal Financial Institution Regulators - The Federal Financial Institutions Examination Council today issued revised guidance for examiners, financial institutions, and technology service providers on two topics: managing financial institutions' information technology activities and outsourcing technology services. www.ffiec.gov/press/pr071504.htm 

July 15, 2004 - Notice of Proposed Rulemaking Regarding Affiliate Marketing Opt Outs - The FDIC and other financial institution regulatory agencies are soliciting comment on proposed rules that implement section 214 of the Fair and Accurate Credit Transactions Act of 2003.  www.fdic.gov/news/news/financial/2004/fil8204.html 

July 15, 2004 - Industrial Production And Capacity Utilization - Industrial production decreased 0.3 percent in June after having risen 0.9 percent in May; the gain in May was 0.2 percentage point less than originally reported. At 116.2 percent of its 1997 average, output was 5.6 percent higher than its level in June 2003. Manufacturing output decreased 0.1 percent in June but posted a jump of 7.1 percent for the second quarter www.federalreserve.gov/Releases/G17/Current/default.htm 

July 14, 2004 - St. Louis Fed Promotes Huang to Assistant Vice President - The Federal Reserve Bank of St. Louis has promoted James L. Huang to assistant vice president. Huang oversees commercial, Postal Money Order and U.S. Treasury check processing. www.stlouisfed.org/news/releases/2004/07_09_04.html 

July 14, 2004 - FDIC Revises March 31, 2004, Reserve Ratios for Deposit Insurance Funds - The FDIC today announced revisions to the March 31, 2004, reserve ratios reported on May 27, 2004, for its two deposit insurance funds - the Bank Insurance Fund and the Savings Association Insurance Fund. www.fdic.gov/news/news/press/2004/pr7504.html 

July 13, 2004 - Bank Securities Activities: SEC's Proposed Rule (Regulation B) - This bulletin announces that the SEC recently proposed regulations that would define the extent to which securities brokerage activities of banks are subject to SEC regulation.
Press Release: http://www.occ.treas.gov/ftp/bulletin/2004-31.txt 
Attachment: www.regulations.gov/fredpdfs/04-14138.pdf 

July 13, 2004 - Auto Outlook Symposium Summarized in Latest Chicago Fed Letter - With a generally positive outlook for the U.S. economy in 2004 and 2005, the auto sector is looking forward to modest increases in light-vehicle sales, according to a summary forecast of participants in the Chicago Fed's 2004 Auto Outlook Symposium featured in the August 2004 Chicago Fed Letter www.chicagofed.org/news_and_conferences/news/2004_7_13_auto_outlook_symposium
_summarized_in_chicago_fed_letter.cfm 

July 12, 2004 - Chicago Fed Economists' 'Op-ed' Published in American Banker - The following opinion piece by Chicago Fed economists Robert DeYoung and Thomas Klier was featured in the 'Viewpoint' section of the July 9, 2004 issue of American Banker. www.chicagofed.org/news_and_conferences/news/2004_07_12_chicago_fed_economists_featured_in_
american_banker.cfm 

July 12, 2004 - NCUA Announces Appointment of Secretary to the Board - National Credit Union Administration (NCUA) Board Chairman JoAnn Johnson announced today that Mary F. Rupp will be appointed Secretary to the Board upon the retirement of Becky Baker at the end of August. Rupp has served in the NCUA's Office of General Counsel for 17 years. www.ncua.gov/news/press_releases/2004/NR04-0712-2.htm 

July 12, 2004 - NCUA - SBA Administrator Hector Barreto to Deliver Keynote Address at NCUA's Access Across America Economic Empowerment Summit www.ncua.gov/news/press_releases/2004/NR04-0712.htm 

July 12, 2004 - Robert Garsson Named Deputy Comptroller for Public Affairs - The Office of the Comptroller of the Currency today announced that Robert M. Garsson has been named Deputy Comptroller for Public Affairs. www.occ.treas.gov/scripts/newsrelease.aspx?Doc=CUHE016G.xml 

July 12, 2004 - Community Developments On-Line Spotlights New Markets Tax Credit Program - In the first on-line edition of the award-winning Community Developments newsletter, the Office of the Comptroller of the Currency focuses on how investments in New Markets Tax Credits can help fill gaps in financing for projects located in economically-distressed communities.
Press Release:  www.occ.treas.gov/scripts/newsrelease.aspx?Doc=C23FGYCZ.xml   
Attachment: www.occ.treas.gov/cdd/index.html

July 12, 2004 - The Federal Reserve Board on Monday announced the execution of a Written Agreement by and among the First Midwest Bank, Itasca, Illinois; the Illinois Department of Financial and Professional Regulation; and the Federal Reserve Bank of Chicago. www.federalreserve.gov/boarddocs/press/Enforcement/2004/20040712/default.htm 

July 7, 2004 - NCUA - Opinion Letter 04-0625 - Share Insurance Coverage for Living Trust Accounts.  www.ncua.gov/RegulationsOpinionsLaws/opinion_letters/2004/04-0625.htm 

July 7, 2004 - NCUA - Opinion Letter 04-0528 - Permissibility of Loan Participation or Purchase of an Eligible Obligation.  www.ncua.gov/RegulationsOpinionsLaws/opinion_letters/2004/04-0528.htm 

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July 9, 2004 - Second Quarter 2004 Edition of the FDIC's Letter to Stakeholders - The FDIC has issued its ninth Letter to Stakeholders, an overview of the Corporation's activities during the second quarter of 2004.  www.fdic.gov/news/news/financial/2004/fil8104.html 

July 9, 2004 - NCUA - Workshop to Share "New Ideas to Reach New Members" - NCUA Board Member Debbie Matz has released the agenda for the free Partnering and Leadership Successes workshop in Honolulu on Oct. 27, the final day of the Credit Union National Association's Future Forum.  www.ncua.gov/news/press_releases/2004/NR04-0708.htm 

July 8, 2004 - Overdraft Protection: Proposed Interagency Guidance on Overdraft Protection Programs - This bulletin announces that the OCC, Federal Reserve Board, FDIC, OTS, and NCUA jointly issued proposed guidance on overdraft protection programs. www.occ.treas.gov/ftp/bulletin/2004-30.txt 

July 8, 2004 - FRB Statistical Release G.19 Consumer Credit www.federalreserve.gov/Releases/G19/Current/default.htm 

July 8, 2004 - FRB Statistical Release E.2 Survey of Terms of Business Lending www.federalreserve.gov/Releases/E2/Current/default.htm 

July 8, 2004 - The Federal Reserve Board on Thursday released the minutes of its discount rate meetings from March 29 through May 3, 2004. www.federalreserve.gov/boarddocs/press/monetary/2004/20040708/default.htm 

July 7, 2004 - FDIC Issues July 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.  www.fdic.gov/news/news/press/2004/pr7404.html 

July 7, 2004 - Article by Vice Chairman Roger W. Ferguson, Jr. and William L. Wascher - Lessons from the Past Productivity Booms.   www.federalreserve.gov/boarddocs/speeches/2004/20040707/attachment.pdf 

July 7, 2004 - Interagency interim rule to conform the regulations implementing the Community Reinvestment Act.   www.federalreserve.gov/generalinfo/foia/proposedregs.cfm 

July 7, 2004 - Vice Chairman Roger W. Ferguson, Jr. - Productivity: Past, Present, and Future At the New York Association for Business Economics Meeting, New York, New York. www.federalreserve.gov/boarddocs/speeches/2004/20040707/default.htm 

July 7, 2004 - OCC Releases Third Quarter Edition of Quarterly Journal on the Web - The December 2003 issue of the Quarterly Journal, Vol. 22, No. 4, is now available on-line in PDF. This issue features the condition of commercial banks, as well as mergers, interpretive letters, speeches and testimony, appeals, and financial performance of national banks. www.occ.treas.gov/qj/qj.htm 

July 6, 2004 - Proposed Rule on the Securities Activities of Banks: Securities and Exchange Commission Regulation B - The Securities and Exchange Commission (SEC) is soliciting comment on a proposed rule to implement provisions of the Gramm-Leach-Bliley Act of 1999 that delineate the securities activities in which banks may engage without registering as a broker under the Securities Exchange Act of 1934. www.fdic.gov/news/news/financial/2004/fil7904.html 

July 6, 2004 - The Federal Reserve Board on Tuesday announced its approval of the application filed by Capital One Financial Corporation, McLean, Virginia, to become a bank holding company after the amendment of the charter of its subsidiary, Capital One Bank, Glen Allen, Virginia, from a limited-purpose, credit-card bank charter to a full-service bank charter. www.federalreserve.gov/boarddocs/press/orders/2004/20040706/default.htm 
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July 2, 2004 - NCUA - Recent Cyber Attacks - This alert is intended to raise awareness of a number of cyber attacks targeted at financial institutions in recent days. The attacks have the potential to infect financial institution and consumer PCs, and obtain name and password information, allowing unauthorized access to financial accounts. www.ncua.gov/FBIIC/Security/SA04-0702.pdf 

July 2, 2004 - Fraudulent Web Site www.occnetonline.com:  Fraudulent Web site purporting to be operated by the Office of the Comptroller of the Currency.   www.occ.treas.gov/ftp/alert/2004-12.txt 

July 2, 2004 - The Federal Reserve Board on Friday announced the execution of a Written Agreement by and between Kenco Bancshares, Inc., Jayton, Texas and the Federal Reserve Bank of Dallas. www.federalreserve.gov/boarddocs/press/Enforcement/2004/20040702/default.htm 

July 2, 2004 - Agencies Issue Proposed Rule on Affiliate Marketing Opt Outs -The federal financial institutions supervisory agencies today issued proposed regulations that would give consumers the chance to "opt out" before a financial institution uses information provided by an affiliated company to market its products and services to the consumer.
Press Release: www.federalreserve.gov/boarddocs/press/bcreg/2004/20040702/default.htm 
Press Release: www.occ.treas.gov/scripts/newsrelease.aspx?JNR=1&Doc=UE6OHAGZ.xml 
Attachment: www.occ.treas.gov/ftp/release/2004-54a.pdf 
Press Release: www.ots.treas.gov/docs/7/77425.html 
Press Release: www.ncua.gov/news/press_releases/2004/JR04-0702.pdf 
Press Release: www.fdic.gov/news/news/press/2004/pr7304.html 

July 1, 2004 - General License Issued under the Cuban Assets Control Regulations - On June 25, 2004, the Department of the Treasury's Office of Foreign Assets Control (OFAC) issued a new general license under the Cuban Assets Control Regulations which pertains to allowing certain travel-related transactions. www.fdic.gov/news/news/financial/2004/fil7804.html 

July 1, 2004 - NCUA Announces Appointment of Deputy General Counsel - The National Credit Union Administration (NCUA) announced today that Michael J. McKenna has been named the NCUA's Deputy General Counsel effective December 1, 2004. www.ncua.gov/news/press_releases/2004/NR04-0701-2.htm 

July 1, 2004 - NCUA - FLRA Announces Preliminary Employee Union Vote - The Federal Labor Relations Authority announced today the results of the vote of the National Credit Union Administration bargaining unit members to determine whether the National Treasury Employees Union will represent NCUA bargaining unit employees. www.ncua.gov/news/press_releases/2004/NR04-0701.htm 

July 1, 2004 - Statistical Release E.15 Agricultural Finance Databook www.federalreserve.gov/Releases/E15/default_2004.htm 

July 1, 2004 - Federal Open Market Committee Minutes of the May 4, 2004, meeting www.federalreserve.gov/fomc/minutes/20040504.htm 

July 1, 2004 - Reports to Congress Profitability of Credit Card Operations of Depository Institutions - www.federalreserve.gov/boarddocs/rptcongress/creditcard/2004/ccprofit.pdf 

July 1, 2004 - The Federal Reserve Board on Thursday announced its approval of the application filed by Haines Financial Corp., Woodward, Oklahoma, to acquire The First National Bank of Medford, Medford, Oklahoma. www.federalreserve.gov/boarddocs/press/orders/2004/20040701/default.htm 

July 1, 2004 - OCC Cautions National Banks About Long-Term Interest Rate Risks - The Office of the Comptroller of the Currency issued guidance today alerting national banks to the risk management issues associated with assets and liabilities with embedded options
Press Release:. www.occ.treas.gov/scripts/newsrelease.aspx?Doc=RLQ2PS87.xml 
Attachment: www.occ.treas.gov/ftp/bulletin/2004-29.doc 

July 1, 2004 - Foreign Exchange Rates - The Table Below Shows The Average Rates Of Exchange In June 2004 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 

 

PLEASE NOTE:  Some of the above links may not function properly because the regulatory agency has changed the URL.  Please e-mail us at examiner@yennik.com if we can be of assistance.  

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