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

The Community Banker
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Bank Regulatory News

July 2009

Yennik, Inc. has clients in 42 states that rely on our penetration testing audits to ensure proper Internet security settings and to meet the independent diagnostic test requirements of FDIC, OCC, OTS, FRB, and NCUA, which provides compliance with Gramm-Leach Bliley Act 501(b) The penetration audit and Internet security testing is an affordable-sophisticated process than goes far beyond the simple scanning of ports.  The audit focuses on a hacker's perspective, which will help you identify real-world weaknesses.  For more information, give R. Kinney Williams a call today at 806-798-7119 or visit http://www.internetbankingaudits.com/.

July 31, 2009 - Information and Examination Procedures for the "Protecting Tenants at Foreclosure Act of 2009" - This letter provides background information about the "Protecting Tenants at Foreclosure Act of 2009" 1 which became effective on May 20, 2009. This new law protects tenants from immediate eviction by persons or entities that become owners of residential property through the foreclosure process, and extends additional protections for tenants with U.S. Department of Housing and Urban Development Section 8 vouchers. www.federalreserve.gov/boarddocs/caletters/2009/0905/caltr0905.htm 

July 31, 2009 - Revised Interagency Examination Procedures for Regulation Z - The Task Force on Consumer Compliance of the Federal Financial Institutions Examination Council recently approved the attached interagency examination procedures for Regulation Z - Truth in Lending. These revised procedures, which replace the Regulation Z interagency examination procedures transmitted as part of CA 08-5, incorporate recent amendments to the Truth in Lending Act.  www.federalreserve.gov/boarddocs/caletters/2009/0904/caltr0904.htm 

July 31, 2009 - Interagency Questions and Answers Regarding Flood Insurance - The Federal Reserve, along with the other Federal financial institution regulatory agencies and the Farm Credit Administration published the attached Interagency Questions and Answers Regarding Flood Insurance in the Federal Register (74 Fed. Reg. 35,914) on July 21, 2009. The document contains informal staff guidance for agency personnel, financial institutions, and the public. www.federalreserve.gov/boarddocs/caletters/2009/0903/caltr0903.htm 

July 31, 2009 - NCUA Issues Prohibition Orders - July 31, 2009, Alexandria, Va, - The National Credit Union Administration Board has issued orders prohibiting the following individuals from participating in the affairs of any federally insured financial institution. www.ncua.gov/news/press_releases/2009/MR09-0731a.htm

July 31, 2009 - United Central Bank, Garland, Texas, Assumes All of the Deposits of Mutual Bank, Harvey, Illinois - Mutual Bank, Harvey, Illinois, was closed today by the Illinois Department of Financial Professional Regulation - Division of Banking, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with United Central Bank, Garland, Texas, to assume all of the deposits of Mutual Bank. www.fdic.gov/news/news/press/2009/pr09137.html 

July 31, 2009 - Herring Bank, Amarillo, Texas, Assumes All of the Deposits of First State Bank of Altus, Altus, Oklahoma - First State Bank of Altus, Altus, Oklahoma, was closed today by the Oklahoma State Banking Department, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Herring Bank, Amarillo, Texas, to assume all of the deposits of First State Bank of Altus. www.fdic.gov/news/news/press/2009/pr09133.html 

July 31, 2009 - Stonegate Bank, Fort Lauderdale, Florida, Assumes All of the Deposits of Integrity Bank, Jupiter, Florida - Integrity Bank, Jupiter, Florida, was closed today by the Florida Office of Financial Regulation, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Stonegate Bank, Fort Lauderdale, Florida, to assume all of the deposits of Integrity Bank. www.fdic.gov/news/news/press/2009/pr09134.html 

July 31, 2009 - First Financial Bank, National Association, Hamilton, Ohio, Assumes All of the Deposits of Peoples Community Bank, West Chester, Ohio - Peoples Community Bank, West Chester, Ohio, was closed today by the Office of Thrift Supervision, which appointed the Federal Deposit` Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with First Financial Bank, National Association, Hamilton, Ohio, to assume all of the deposits of Peoples Community Bank. www.fdic.gov/news/news/press/2009/pr09135.html 

July 31, 2009 - Crown Bank, Brick, New Jersey, Assumes All of The Deposits of First Bankamericano, Elizabeth, New Jersey - First BankAmericano, Elizabeth, New Jersey, was closed today by the New Jersey Department of Banking and Insurance, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Crown Bank, Brick, New Jersey, to assume all of the deposits of First BankAmericano. www.fdic.gov/news/news/press/2009/pr09136.html 

July 31, 2009 - Federal Open Market Committee - Historical Materials, 1964-1967 - The most detailed record of FOMC meeting proceedings is the transcript. Beginning with the 1994 meetings, the FOMC Secretariat has produced the transcripts shortly after each meeting from an audio recording of the proceedings, lightly editing the speakers' original words, where necessary, to facilitate the reader's understanding. Meeting participants are given an opportunity within the subsequent several weeks to review the transcript for accuracy. www.federalreserve.gov/monetarypolicy/fomc_historical.htm 

July 31, 2009 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm 

July 31, 2009 - Legacy Loans Program - Test of Funding Mechanism - The FDIC is taking the next step in the development of the Legacy Loans Program. The LLP is part of the Public-Private Investment Program announced in March by the Secretary of the Treasury, the Federal Reserve, and the FDIC, and was designed to help banks remove troubled loans and other assets from their balance sheets so that banks could raise new capital and be better-positioned to provide lending to further the recovery of the U.S. economy. www.fdic.gov/news/news/press/2009/pr09131.html 

July 31, 2009 - FDIC Makes Public June Enforcement Actions; No Administrative Hearings are Scheduled - The Federal Deposit Insurance Corporation today released a list of orders of administrative enforcement actions taken against banks and individuals in June. No administrative hearings are scheduled. www.fdic.gov/news/news/press/2009/pr09132.html 

July 31, 2009 - NCUA - National Credit Union Administration - today announces that, effective August 3, 2009, the Central Liquidity Facility will transfer its funds from U.S. Central FCU to the U.S. Treasury and invest them in a laddered portfolio of U.S. Treasury securities. Additionally, NCUA will explore alternatives regarding the transfer of the primary ownership of CLF stock from USC to other credit unions or groups of credit unions through the anticipated reforms of the corporate network. www.ncua.gov/news/press_releases/2009/7-31NCUAAnnouncesChangestoCLFInvestmentPolicy.pdf 
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July 30, 2009 - The Federal Reserve Board on Thursday announced the issuance of a Consent Order of Prohibition against Ronnie A. Jenkins, a former vice president, loan officer, and institution-affiliated party of Middleburg Bank, Middleburg, Virginia, a state member bank. www.federalreserve.gov/newsevents/press/enforcement/20090730a.htm 

July 30, 2009 - The Federal Reserve Board on Thursday announced the execution of a Written Agreement by and among American Bancorporation, a registered bank holding company, American Bank of Saint Paul, a state chartered member bank, both of Saint Paul, Minnesota, and the Federal Reserve Bank of Minneapolis. www.federalreserve.gov/newsevents/press/enforcement/20090730b.htm 

July 30, 2009 - The Federal Reserve Board on Thursday announced the execution of a Written Agreement by and among Buckeye Bancshares, Inc., a registered bank holding company, Buckeye Community Bank, a state chartered member bank, both of Lorain, Ohio, the Federal Reserve Bank of Cleveland, and the Ohio Division of Financial Institutions. www.federalreserve.gov/newsevents/press/enforcement/20090730c.htm 

July 30, 2009 - On the Solvency of Nations: Are Global Imbalances Consistent with Intertemporal Budget Constraints? - Ceyhun Bora Durdu, Enrique G. Mendoza, and Marco E. Terrones - Theory predicts that a nation's stochastic intertemporal budget constraint is satisfied if net foreign assets are integrated of any finite order, or if net exports and NFA satisfy an error-correction specification with a residual integrated of any finite order. We test these conditions using data for 21 industrial and 29 emerging economies for the 1970-2004 period. www.federalreserve.gov/pubs/ifdp/2009/975/ifdp975.htm 

July 30, 2009 - The Federal Reserve Board on Thursday approved final amendments to Regulation Z that revise the disclosure requirements for private education loans. www.federalreserve.gov/newsevents/press/bcreg/20090730a.htm 

July 30, 2009 - Credit CARD Act of 2009 - Interest Rate Increases / Consumer Protections - On May 22, 2009, the Credit Card Accountability Responsibility and Disclosure Act of 2009 was signed into law. This law amends the Truth in Lending Act, 15 USC 1601 et seq., to impose certain requirements on credit card issuers that raise cardholders' annual percentage rates based on factors including the credit risk of the cardholder, market conditions, and other factors. www.occ.treas.gov/ftp/bulletin/2009-25.html 

July 29, 2009 - Beige Book - Informal review by the Federal Reserve Banks of current economic conditions in their Districts.   www.federalreserve.gov/fomc/beigebook/2009/20090729/default.htm 

July 29, 2009 - The Federal Reserve Board on Wednesday announced the execution of a Written Agreement by and among Sunrise Bank, Cocoa Beach, Florida, a state chartered member bank, the Federal Reserve Bank of Atlanta, and the State of Florida, Office of Financial Regulation. www.federalreserve.gov/newsevents/press/enforcement/20090729a.htm 

July 29, 2009 - Buying a home should be a dream come true not a nightmare of worry and stress. A new Federal Reserve Board publication, "5 Tips for Shopping for a Mortgage," will help consumers avoid potential pitfalls and make well-informed decisions when choosing a home loan. www.federalreserve.gov/newsevents/press/other/20090729a.htm 

July 29, 2009 - Comptroller of the Currency Hosts Community Bank Directors Workshops in Omaha, Nebraska - The Office of the Comptroller of the Currency will host workshops for national community bank directors in Omaha, Nebraska, at the Embassy Suites, September 1-3, 2009. www.occ.treas.gov/ftp/release/2009-89.htm 

July 28, 2009 - The Federal Reserve Board on Tuesday announced the execution of a Written Agreement by and among Bank Hapoalim, B.M., Tel Aviv, Israel; the bank's branch in Aventura, Florida; the Federal Reserve Bank of New York; the Federal Reserve Bank of Atlanta; and the Florida Office of Financial Regulation. www.federalreserve.gov/newsevents/press/enforcement/20090728a.htm 

July 28, 2009 - On July 27, 2009, the Federal Reserve conducted an auction of $125 billion in 28-day credit through its Term Auction Facility. Following are the results of the auction: www.federalreserve.gov/newsevents/press/monetary/20090728a.htm 

July 28, 2009 - Statistical Release - G.20 Finance Companies - Owned And Managed Receivables Outstanding 2,3 Seasonally adjusted.   www.federalreserve.gov/releases/g20/current/ 

July 28, 2009 - Comptroller Dugan issues final decision on Carlos Loumiet, Esq., former counsel to Hamilton Bank, NA, Miami, Florida.  www.occ.treas.gov/Final_Decision_and_Order.pdf 

July 27, 2009 - The Federal Reserve Board on Monday announced the execution of a Written Agreement by and among Centennial Bankshares, Inc., Ogden, Utah, a registered bank holding company, and the Federal Reserve Bank of San Francisco.   www.federalreserve.gov/newsevents/press/enforcement/20090727a.htm 

July 27, 2009 - The Federal Reserve Board on Monday announced the issuance of a consent cease and desist order against The Colonial BancGroup, Inc., Montgomery Alabama, a registered bank holding company. www.federalreserve.gov/newsevents/press/enforcement/20090727b.htm 

July 27, 2009 - On July 27, 2009, the Federal Reserve will offer $125 billion in 28-day credit through its Term Auction Facility. Additional information regarding the auction is listed below; the auction will be conducted as specified in this announcement, Regulation A, and the terms and conditions of the Term Auction Facility.   www.federalreserve.gov/newsevents/press/monetary/20090727a.htm 

July 27, 2009 - The Federal Reserve Board will soon begin a statistical study of household finances to update data collected at the outset of the economic downturn that began in late 2007. - The 2009 Survey of Consumer Finances will attempt to re-interview participants in the Board's most recently completed survey, which was conducted in 2007. Normally, the SCF is undertaken on a purely cross-sectional basis every three years. www.federalreserve.gov/newsevents/press/other/20090727a.htm 

July 27, 2009 - Town hall event with Chairman Bernanke - View video excerpts from the town hall event with Chairman Bernanke at the Federal Reserve Bank of Kansas City on July 26, 2009.  www.pbs.org/newshour/video/share.html?s=news01pa98 

July 27, 2009 - Federal Reserve Bulletin Article - U.S. Households' Access to and Use of Electronic Banking, 1989-2007.   www.federalreserve.gov/pubs/bulletin/2009/pdf/OnlineBanking09.pdf 

July 27, 2009 - Midwest Manufacturing Output Fell in June - Chicago Fed Midwest Manufacturing Index decreased 0.3% in June, to a seasonally adjusted level of 78.1. www.chicagofed.org/economic_research_and_data/files/cfmmi_june_2009.pdf 

July 27, 2009 - Interstate Migration and Labor Markets - In a blog posting, William Testa looks at migration trends in response to economic shocks. http://midwest.chicagofedblogs.org/archives/2009/07/migration_updat.html 

July 24, 2009 - The Federal Reserve on Friday announced that the amounts of Term Auction Facility credit offered at each of the two auctions in August will be reduced to $100 billion from $125 billion in July. Specifically, the Federal Reserve will offer $100 billion of 84-day credit on Monday, August 10 and $100 billion of 28-day credit on Monday, August 24. www.federalreserve.gov/newsevents/press/monetary/20090724a.htm 

July 24, 2009 - Chairman Ben S. Bernanke - Regulatory restructuring - Before the Committee on Financial Services, U.S. House of Representatives, Washington, D.C. www.federalreserve.gov/newsevents/testimony/bernanke20090724a.htm 

July 24, 2009 - Comptroller Dugan Supports Regulatory Reform Plan, Urges Revision to Some Details - Comptroller of the Currency John C. Dugan today told Congress that he supports efforts to enhance consumer protection standards for financial service providers, but expressed significant concerns with some elements of the proposed Consumer Financial Protection Agency. www.occ.treas.gov/ftp/release/2009-88.htm 

July 24, 2009 - Evans Bank, National Association, Angola, New York, Assumes All of the Deposits of Waterford Village Bank, Clarence, New York - Waterford Village Bank, Clarence, New York, was closed today by the New York State Banking Department, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Evans Bank, N.A., Angola, New York, to assume all of the deposits of Waterford Village Bank. www.fdic.gov/news/news/press/2009/pr09129.html 

July 24, 2009 - State Bank and Trust Company, Pinehurst, Georgia, Assumes All of the Deposits of the Six Bank Subsidiaries of Security Bank Corporation, Macon, Georgia - The six bank subsidiaries of Security Bank Corporation, Macon, Georgia, were closed today by the Georgia Department of Banking and Finance, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with State Bank and Trust Company, Pinehurst, Georgia, to assume all of the deposits of the six bank subsidiaries of Security Bank Corporation. www.fdic.gov/news/news/press/2009/pr09130.html   
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July 23, 2009 - The Federal Reserve Board on Thursday announced the execution of a Written Agreement by and among Crescent Banking Company, Jasper, Georgia, a registered bank holding company, the Federal Reserve Bank of Atlanta, and the Banking Commissioner of the State of Georgia. www.federalreserve.gov/newsevents/press/enforcement/20090723b.htm 

July 23, 2009 - The Federal Reserve Board on Thursday announced the issuance of a consent Prompt Corrective Action Directive against Bank of Elmwood, Racine, Wisconsin, a state chartered member bank. www.federalreserve.gov/newsevents/press/enforcement/20090723a.htm 

July 23, 2009 - The Federal Reserve Board on Thursday proposed significant changes to Regulation Z intended to improve the disclosures consumers receive in connection with closed-end mortgages and home-equity lines of credit. These changes, offered for public comment, reflect the result of consumer testing conducted as part of the Board's comprehensive review of the rules for home-secured credit. The amendments would also provide new consumer protections for all home-secured credit. www.federalreserve.gov/newsevents/press/bcreg/20090723a.htm 

July 23, 2009 - Governor Daniel K. Tarullo - Regulatory restructuring - Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate, Washington, D.C. www.federalreserve.gov/newsevents/testimony/tarullo20090723a.htm 

July 23, 2009 - FDIC Advisory Committee to Explore Prize-linked Savings, Outreach to Underserved and Low-income Consumers - Michael S. Barr, Treasury Assistant Secretary for Financial Institutions; Bruce D. Murphy, Executive Vice President and President, Community Development Banking, KeyBank, N.A; J. Michael Shepherd, President and CEO of Bank of the West and BancWest Corporation; and Robert K. Steel, Chairman of the Board of Trustees, The Aspen Institute, join committee.   www.fdic.gov/news/news/press/2009/pr09128.html 

July 23, 2009 - OCC Announces New Electronic Interpretations and Actions - July 2009.   www.occ.treas.gov/interp/jul09/intjul09.htm 

July 22, 2009 - The Federal Reserve Board on Wednesday announced the execution of a Written Agreement by and among First Flo Corporation, Florence, Colorado, a registered bank holding company, and the Federal Reserve Bank of Kansas City. www.federalreserve.gov/newsevents/press/enforcement/20090722a.htm 

July 22, 2009 - The Federal Reserve Board announced on Monday that it is seeking nominations for appointments to its Consumer Advisory Council. The Council advises the Board on the exercise of its responsibilities under various consumer financial services laws and on other matters. The group meets in Washington, D.C., three times a year. www.federalreserve.gov/newsevents/press/other/20090622a.htm 

July 22, 2009 - Interest on Required Balances and Excess Balances - The Federal Reserve Banks pay interest on required reserve balances--balances held at Reserve Banks to satisfy reserve requirements--and on excess balances--balances held in excess of required reserve balances and contractual clearing balances. The Board of Governors has prescribed rules governing the payment of interest by Federal Reserve Banks in Regulation D.   www.federalreserve.gov/monetarypolicy/reqresbalances.htm 

July 22, 2009 - Profitwise News and Views Now Online - Latest issue examines concentrated poverty in Milwaukee. www.chicagofed.org/community_development/profitwise_news_and_views.cfm 

July 21, 2009 - The Federal Reserve Board on Tuesday released the minutes of its discount rate meetings from May 18 through June 22, 2009. www.federalreserve.gov/newsevents/press/monetary/20090721a.htm 

July 21, 2009 - Agencies Release Revisions to Interagency Questions and Answers and Proposed New Questions Regarding Flood Insurance - The federal bank, thrift, credit union, and Farm Credit System regulatory agencies today released revised interagency questions and answers regarding flood insurance and requested public comment on several new ones. www.federalreserve.gov/newsevents/press/bcreg/20090721a.htm 

July 21, 2009 - Chairman Ben S. Bernanke - Semiannual Monetary Policy Report to the Congress - Before the Committee on Financial Services, U.S. House of Representatives, Washington, D.C. www.federalreserve.gov/newsevents/testimony/bernanke20090721a.htm 

July 21, 2009 - Flood Insurance - Revised Interagency Questions and Answers Regarding Flood Insurance - The FDIC, along with the other federal financial institution regulatory agencies and the Farm Credit System, have issued the attached updated Interagency Questions and Answers Regarding Flood Insurance. In addition, the agencies are requesting public comment on five new questions and answers. Comments on the new questions and answers are due by September 21, 2009.
Press Release: www.fdic.gov/news/news/financial/2009/fil09042.html 
Press Release: www.occ.treas.gov/ftp/release/2009-86.htm 
Press Release: www.ots.treas.gov/?p=PressReleases&ContentRecord_id=99fdad89-1e0b-8562-ebc6-112bd40ff122&ContentType_id=4c12f337-b5b6-4c87-b45c-838958422bf3 
Press Release: www.fdic.gov/news/news/press/2009/pr09127.html 
Press Release: www.ncua.gov/news/press_releases/2009/pressreleaseQA(6-10-09).pdf 

July 21, 2009 - OCC Survey Finds Bank Underwriting Standards Tightening Further - The Office of the Comptroller of the Currency released today its 15th annual Survey of Credit Underwriting Practices and reported that commercial and retail underwriting standards tightened for the second consecutive year following a four year period of eased underwriting. www.occ.treas.gov/ftp/release/2009-87.htm 

July 21, 2009 - June Economic Activity Improved - The Chicago Fed National Activity Index was -1.80 in June, up from -2.30 in May. www.chicagofed.org/economic_research_and_data/files/cfnai_july2009.pdf 

July 20, 2009 - Legal Interpretations - Federal Reserve Act, June 23, 2009.   www.federalreserve.gov/boarddocs/legalint/FederalReserveAct/2009/20090623/20090623.pdf 

July 20, 2009 - The Federal Reserve Board on Monday announced the execution of a Written Agreement by and among North Georgia Bancorp, Inc. Watkinsville, Georgia, a registered bank holding company, and the Federal Reserve Bank of Atlanta. www.federalreserve.gov/newsevents/press/enforcement/20090720a.htm 

July 20, 2009 - The Federal Reserve Board on Monday announced the execution of a Written Agreement by and among PAB Bankshares, Inc., a registered bank holding company, The Park Avenue Bank, a state chartered member bank, both of Valdosta, Georgia, the Federal Reserve Bank of Atlanta, and the Banking Commissioner of the State of Georgia. www.federalreserve.gov/newsevents/press/enforcement/20090720b.htm 

July 20, 2009 - Prohibition Against Interstate Deposit Production - Annual Loan-to-Deposit Ratios - The Federal Reserve Board, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation recently issued updated host-state loan-to-deposit ratios that the banking agencies will use to determine compliance with section 109 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994. www.occ.treas.gov/ftp/bulletin/2009-24.html 

July 17, 2009 - First-Citizens Bank and Trust Company, Raleigh, North Carolina, Assumes All of the Deposits of Temecula Valley Bank, Temecula, California - Temecula Valley Bank, Temecula, California, was closed today by the California Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with First-Citizens Bank and Trust Company, Raleigh, North Carolina, to assume all of the deposits of Temecula Valley Bank, excluding those from brokers. www.fdic.gov/news/news/press/2009/pr09126.html 

July 17, 2009 - California Bank & Trust, San Diego, California, Assumes All of the Deposits of Vineyard Bank, National Association, Rancho Cucamonga, California - Vineyard Bank, National Association, Rancho Cucamonga, California, was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with California Bank & Trust, San Diego, California, to assume all of the deposits of Vineyard Bank, N.A., excluding those from brokers. www.fdic.gov/news/news/press/2009/pr09125.html

July 17, 2009 - Alerus Financial, National Association, Grand Forks, North Dakota, Assumes All of the Deposits of BankFirst, Sioux Falls, South Dakota - BankFirst, Sioux Falls, South Dakota, was closed today by the South Dakota Division of Banking, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Alerus Financial, National Association, Grand Forks, North Dakota, to assume all of the deposits of BankFirst. www.fdic.gov/news/news/press/2009/pr09124.html 

July 17, 2009 - First American Bank and Trust Company, Athens, Georgia, Assumes All of the Deposits of First Piedmont Bank, Winder, Georgia - First Piedmont Bank, Winder, Georgia, was closed today by the Georgia Department of Banking and Finance, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with First American Bank and Trust Company, Athens, Georgia, to assume all of the deposits of First Piedmont Bank. www.fdic.gov/news/news/press/2009/pr09123.html 

July 17, 2009 - NCUA - Results of the 07/16/2009 NCUA Board Meeting are available.   www.ncua.gov/Geninfo/BoardandAction/Calendars/board_calendar/ag09-0716_results.aspx 

July 17, 2009 - 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/2009-84.htm 

July 17, 2009 - OCC Releases CRA Evaluations For 46 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, 2009 through July 14, 2009. The list contains only national banks and insured federal branches of foreign banks that have received ratings. The possible ratings are outstanding, satisfactory, needs to improve, and substantial noncompliance. www.occ.treas.gov/ftp/release/2009-83.htm 

July 17, 2009 - Latest Review Highlights 2008 Economic Policy Conference Papers; 2009 Conference Dates Set for Oct. 15-16 - The Federal Reserve Bank of St. Louis has published the papers presented at 2008's annual Economic Policy Conference in the July/August issue of the Review, the Bank's bi-monthly journal of economic research. www.stlouisfed.org/newsroom/news_releases/newsrelease.cfm?ArticleID=89604C66A6F4D83FC6957DF171C6D255
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July 16, 2009 - Governor Elizabeth A. Duke - Consumer protection - Before the Subcommittee on Domestic Monetary Policy and Technology, Committee on Financial Services, U.S. House of Representatives, Washington, D.C. www.federalreserve.gov/newsevents/testimony/duke20090716a.htm 

July 15, 2009 - Statistical Release - G.17 Industrial Production - Industrial production decreased 0.4 percent in June after having fallen 1.2 percent in May. For the second quarter as a whole, output fell at an annual rate of 11.6 percent, a more moderate contraction than in the first quarter, when output fell 19.1 percent.  www.federalreserve.gov/releases/g17/Current/default.htm 

July 15, 2009 - The Federal Reserve Board on Wednesday approved an interim final rule amending Regulation Z to require creditors to increase the amount of notice consumers receive before the rate on a credit card account is increased or a significant change is made to the account's terms. The amendments also allow consumers to reject such increases and changes by informing the creditor before the increase or change goes into effect. www.federalreserve.gov/newsevents/press/bcreg/bcreg20090715a.htm 

July 15, 2009 - The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on June 23-24, 2009 and of the conference call held on June 3, 2009. A summary of economic projections made by Federal Reserve Board members and Reserve Bank presidents for the June 23-24, 2009 meeting is also included as an addendum to these minutes. www.federalreserve.gov/newsevents/press/monetary/20090715a.htm 

July 14, 2009 - Legal Interpretations - Bank Holding Company Act, June 5, 2009 - Letter to Paul E. Glotzer granting an exemption from the Board's risk-based capital guidelines for state member banks and bank holding companies to permit participants in ICE US Trust LLC, New York, New York, to assign a 20 percent risk weight to claims on ICE Trust.  www.federalreserve.gov/boarddocs/legalint/BHC_ChangeInControl/2009/20090605.pdf 

July 14, 2009 - The Federal Reserve Board has approved amendments to Appendix A of Regulation CC that reflect the restructuring of the Federal Reserve Banks' check-processing operations. www.federalreserve.gov/newsevents/press/bcreg/bcreg20090714a.htm 

July 14, 2009 - On July 13, 2009, the Federal Reserve conducted an auction of $125 billion in 84-day credit through its Term Auction Facility. Following are the results of the auction.  www.federalreserve.gov/newsevents/press/monetary/20090714a.htm 

July 14, 2009 - The Federal Reserve Board on Tuesday announced the execution of a Written Agreement by and among Profinium Financial Holdings, Inc., Fairmont, Minnesota, Profinium Financial, Inc., Truman, Minnesota, registered bank holding companies, and the Federal Reserve Bank of Minneapolis. www.federalreserve.gov/newsevents/press/enforcement/20090714a.htm 

July 13, 2009 - 'Clunkers for Cash' Sells Cars, Hikes Fuel Economy - In a blog posting, Thomas Klier comments on program that offers cash incentives toward purchase of fuel efficient vehicles. http://midwest.chicagofedblogs.org/archives/2009/07/cash_for_clunke.html 

July 13, 2009 - NCUA to Release External Portfolio Valuations for U.S. Central and WesCorp - The National Credit Union Administration today made public additional information pertaining to external corporate portfolio analysis, a move termed "part of NCUA's continuing commitment to make as much material available to the credit union industry and financial public as is possible" by NCUA Chairman Michael E. Fryzel. www.ncua.gov/news/press_releases/2009/MA09-0713.htm 

July 13, 2009 - Kathy K. Murphy Named Chief Accountant - The Office of the Comptroller of the Currency announced today that Kathy K. Murphy has been named Chief Accountant for the OCC. www.occ.treas.gov/ftp/release/2009-82.htm 

July 13, 2009 - *Media Advisory* Spotlight on Economics: Economics of Financial Preparedness and Fiscal Policy - WHAT: An economic education and financial literacy symposium for K- to 12th-grade teachers that will provide them with lessons and classroom resources for use in teaching their students about the financial impact of disasters such as Sept. 11, 2001, and Hurricane Katrina and the role of fiscal policy in the economy. www.stlouisfed.org/newsroom/news_releases/newsrelease.cfm?ArticleID=757DF4DEB3911EEBAFF93B98C325833B 

July 13, 2009 - New St. Louis Fed Research Unearths Some Surprises While "Digging Into the Infrastructure Debate" - The nation's infrastructure may not be in as bad of shape as widely thought, according to "Digging Into the Infrastructure Debate," a recent article published in the July 2009 issue of The Regional Economist, the quarterly journal of business and economic issues published by the Federal Reserve Bank of St. Louis. www.stlouisfed.org/newsroom/news_releases/newsrelease.cfm?ArticleID=74D43356DE15CA124F31E6BD062AE9B9

July 13, 2009 - St. Louis Fed Analysis Finds Eighth District Fares Better Than Nation amid Escalation in Prime Mortgage Delinquencies, Foreclosures - New research by the Federal Reserve Bank of St. Louis reveals that the Eighth Federal Reserve District-which includes all of Arkansas and parts of Missouri, Kentucky, Tennessee, Illinois, Indiana and Mississippi-has fared better than the nation amid a rising tide of prime mortgage delinquencies and foreclosures. www.stlouisfed.org/newsroom/news_releases/newsrelease.cfm?ArticleID=74B55BBDE601E2F6CF8E4798C41A0504 

July 13, 2009 - On July 13, 2009, the Federal Reserve will offer $125 billion in 84-day credit through its Term Auction Facility. Additional information regarding the auction is listed below; the auction will be conducted as specified in this announcement, Regulation A, and the terms and conditions of the Term Auction Facility.  www.federalreserve.gov/newsevents/press/monetary/20090713a.htm 

July 10, 2009 - Donald L. Kohn, Vice Chairman - Comments on "Financial Intermediation and the Post-Crisis Financial System" At the Eighth BIS Annual Conference 2009, Financial System and Macroeconomic Resilience: Revisited, Basel, Switzerland.   www.federalreserve.gov/newsevents/speech/kohn20090710a.htm 

July 10, 2009 - Central Bank & Trust, Lander, Wyoming, Assumes All of the Deposits of Bank of Wyoming, Thermopolis, Wyoming - Bank of Wyoming, Thermopolis, Wyoming, was closed today by the State of Wyoming, Department of Audit, Division of Banking, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Central Bank & Trust, Lander, Wyoming, to assume all of the deposits of Bank of Wyoming. www.fdic.gov/news/news/press/2009/pr09122.html 

July 10, 2009 - OTS to Host Webinar on Information Security - The Office of Thrift Supervision will present a Webinar this month for senior managers, especially chief information officers, chief security officers, chief technology officers, board members and audit committee members of savings associations to learn how to prepare for information security incidents and, if they occur, how to respond. www.ots.treas.gov/?p=PressReleases&ContentRecord_id=65307e7d-1e0b-8562-ebac-1c832a584728&ContentType_id=4c12f337-b5b6-4c87-b45c-838958422bf3 

July 10, 2009 - Risk-Based Capital - Mortgage Modifications - Interim Final Rule - The Office of the Comptroller of the Currency published in the Federal Register on June 30, 2009, an interim final rule concerning the risk-based capital treatment for one-to-four family residential mortgages modified under the U.S. Treasury Department's Making Home Affordable Program. This bulletin transmits and briefly summarizes that interim final rule. www.occ.treas.gov/ftp/bulletin/2009-22.html 

July 10, 2009 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm 

July 10, 2009 - Monthly Report on Credit and Liquidity Programs and the Balance Sheet - July 2009 www.federalreserve.gov/monetarypolicy/bst_reportsresources.htm 
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July 9, 2009 - Vice Chairman Donald L. Kohn - Federal Reserve independence - Before the Subcommittee on Domestic Monetary Policy and Technology, Committee on Financial Services, U.S. House of Representatives, Washington, D.C. www.federalreserve.gov/newsevents/testimony/kohn20090709a.htm 

July 9, 2009 - Jon D. Greenlee, Associate Director, Division of Banking Supervision and Regulation - Commercial real estate - Before the Joint Economic Committee, U.S. Congress, Washington, D.C. www.federalreserve.gov/newsevents/testimony/greenlee20090709a.htm 

July 9, 2009 - Governor Elizabeth A. Duke - Federal Reserve's Initiatives to Support Minority-Owned Institutions - At the Minority Depository Institutions National Conference 2009 Conference, Chicago, Illinois.  www.federalreserve.gov/newsevents/speech/duke20090709a.htm 

July 9, 2009 - The Federal Reserve Board on Thursday announced the execution of a Written Agreement by and among First State Bancorporation, Albuquerque, New Mexico, a registered bank holding company, First Community Bank, Taos, New Mexico, a state chartered member bank, the Federal Reserve Bank of Kansas City, and the New Mexico Regulation and Licensing Department, Financial Institutions Division. www.federalreserve.gov/newsevents/press/enforcement/20090709a.htm 

July 8, 2009 - Should Federal Government Bail Out the States? - Chicago Fed Letter examines the federal government's role in helping states in past recessions. www.chicagofed.org/publications/fedletter/cflaugust2009_265.pdf 

July 8, 2009 - U.S. Economic Growth to Turn Corner in 2010: Forecast - Chicago Fed Letter reports symposium forecasts for the auto sector and the U.S. economy through 2010. www.chicagofed.org/publications/fedletter/cflaugust2009_265a.pdf 

July 8, 2009 - Agencies Issue Statement on California Registered Warrants - The federal financial regulatory agencies today issued an interagency statement that offers guidance for financial institutions regarding California registered warrants. www.occ.treas.gov/ftp/release/2009-81.htm 

July 8, 2009 - California Registered Warrants Interagency Statement - The federal financial institution regulatory agencies are jointly issuing the attached supervisory guidance for financial institutions regarding the regulatory capital treatment for registered warrants issued by the State of California as payment for certain obligations. www.fdic.gov/news/news/financial/2009/fil09041.html 

July 8, 2009 - Federal Bank Regulators Hold 4th Annual National Conference for Minority-Owned Banks and Thrifts - The Federal Deposit Insurance Corporation, Federal Reserve Board, Office of the Comptroller of the Currency and the Office of Thrift Supervision are hosting the fourth annual national conference for federally insured Minority-Owned banks and thrifts. www.fdic.gov/news/news/press/2009/pr09120.html 

July 8, 2009 - Statistical Release - G.19 Consumer Credit - Consumer credit decreased at an annual rate of 1-1/2 percent in May 2009. Revolving credit decreased at an annual rate of 3-3/4 percent, and nonrevolving credit decreased at an annual rate of 1/4 percent. www.federalreserve.gov/releases/g19/current/g19.htm 

July 8, 2009 - Real-Time Estimates of the Output Gap - Thomas M. Trimbur - This paper investigates strategies for real-time estimation of the output gap. First, I examine estimates from univariate models with stochastic cycles. This corresponds to the use of model-based band-pass filters in real-time, and I find that the turning points in real-time and final output gap series match more closely for higher order models and that the revisions properties and real-time accuracy are more favorable. www.federalreserve.gov/pubs/feds/2009/200932/index.html 

July 8, 2009 - Do Self-Insurance and Disability Insurance Prevent Consumption Loss on Disability? - Steffan G. Ball and Hamish W. Low - In this paper we show the extent to which public insurance and self-insurance mitigate the cost of health shocks that limit the ability to work. We use consumption data from the UK to estimate the insurance provided by the government disability programme and account for the effectiveness of alternative self-insurance mechanisms. Individuals with a work-limiting health condition, but in receipt of disability insurance, have 7 percent lower consumption than those without such a condition. www.federalreserve.gov/pubs/feds/2009/200931/index.html 

July 8, 2009 - Does Tax Policy Affect Executive Compensation? Evidence from Postwar Tax Reforms - Carola Frydman and Raven S. Molloy - Evidence since the 1980s suggests that the level and structure of executive compensation in U.S. public corporations are largely unresponsive to tax incentives. However, the relative tax advantage of different forms of pay has been relatively small during this period. www.federalreserve.gov/pubs/feds/2009/200930/index.html 

July 8, 2009 - Does Speculation Affect Spot Price Levels? The Case of Metals with and without Futures Markets - George M. Korniotis - This paper finds no evidence that speculative activity in futures markets for industrial metals caused higher spot prices in recent years. The empirical analysis focuses on industrial metals with and without futures contracts and is organized around two key themes. www.federalreserve.gov/pubs/feds/2009/200929/index.html 

July 8, 2009 - The Role of the Securitization Process in the Expansion of Subprime Credit - Taylor D. Nadauld and Shane M. Sherlund - We analyze the structure and attributes of subprime mortgage-backed securitization deals originated between 1997 and 2007. Our data set allows us to link loan-level data for over 6.7 million subprime loans to the securitization deals into which the loans were sold. We show that the securitization process, including the assignment of credit ratings, provided incentives for securitizing banks to purchase loans of poor credit quality in areas with high rates of house price appreciation. www.federalreserve.gov/pubs/feds/2009/200928/index.html 

July 8, 2009 - Interest on Required Reserve Balances and Excess Balances Maintenance period ending July 8, 2009 - The Federal Reserve Banks pay interest on required reserve balances--balances held at Reserve Banks to satisfy reserve requirements--and on excess balances--balances held in excess of required reserve balances and contractual clearing balances. The Board of Governors has prescribed rules governing the payment of interest by Federal Reserve Banks in Regulation D. www.federalreserve.gov/monetarypolicy/reqresbalances.htm 

July 8, 2009 - Joint Statement by Treasury, Federal Reserve, and FDIC on the Legacy Securities Public-Private Investment Program - The Financial Stability Plan, announced in February, outlined a framework to bring capital into the financial system and address the problem of legacy real estate-related assets.
Press Release: www.financialstability.gov/latest/tg_07082009.html 
Press Release: www.fdic.gov/news/news/press/2009/pr09121.html 

July 7, 2009 - NCUA - Corporate Credit Union Update - Under the delegated authority approved by the NCUA Board to implement the Temporary Corporate Credit Union Stabilization Fund (TCCUSF) staff has begun utilizing the TCCUSF to cover expenses associated with NCUA's corporate credit union stabilization efforts. As a result natural person credit unions will be able to reflect a fully restored NCUSIF deposit on their June 30th Call Reports. The NCUA Board is expected to make a premium determination at its September meeting. www.ncua.gov/news/press_releases/2009/MA09-0707.htm 

July 7, 2009 - FFIEC Statement on Regulatory Conversions - The Federal Financial Institutions Examination Council has issued the attached FFIEC Statement on Regulatory Conversions to reaffirm that charter conversions or changes in primary federal regulator should only be conducted for legitimate business and strategic reasons. www.fdic.gov/news/news/financial/2009/fil09040.html 

July 7, 2009 - Data are collected as of the end of the month for March, June, September and December, and generally are released three months later. www.federalreserve.gov/releases/iba/default.htm 

July 7, 2009 - Consumer Compliance Handbook.  www.federalreserve.gov/boarddocs/supmanual/supervision_cch.htm 

July 7, 2009 - The Federal Reserve Board on Tuesday announced the execution of a Written Agreement by and between Frontier Financial Corporation, Everett, Washington, a registered bank holding company, and the Federal Reserve Bank of San Francisco. www.federalreserve.gov/newsevents/press/enforcement/20090707b.htm 

July 7, 2009 - The Federal Reserve Board on Tuesday announced the execution of a Written Agreement by and among Bankers' Bancorp, Inc., a registered bank holding company, Independent Bankers' Bank, a state chartered member bank, both of Springfield, Illinois, the Federal Reserve Bank of Chicago, and the Illinois Department of Financial and Professional Regulation, Division of Banking. www.federalreserve.gov/newsevents/press/enforcement/20090707a.htm 

July 6, 2009 - NCUA - Watts United Credit Union Closes The National Credit Union Administration accepted appointment as the liquidating agent of Watts United Credit Union of Los Angeles, California, following the decision of the California Department of Financial Institutions to place the credit union into liquidation on Monday, July 6, 2009. www.ncua.gov/news/press_releases/2009/MR09-0706.htm

July 6, 2009 - Liquidity: Request for Comment on Proposed Interagency Liquidity Guidance - Interagency guidance provides consistent expectations on sound practices for managing funding and liquidity risk. It incorporates the Basel Committee's liquidity principles where appropriate. Comments requested. www.occ.treas.gov/ftp/bulletin/2009-21.html 

July 6, 2009 - Sweep Account Disclosure Requirements - On January 27, 2009, the FDIC finalized its rule "Processing of Deposit Accounts in the Event of an Insured Depository Institution Failure". In addition to establishing practices for determining deposit and other account balances at a failed depository institution, the rule includes disclosure requirements for certain sweep accounts, effective July 1, 2009. In response to industry questions regarding the sweep account disclosure requirements, the FDIC has prepared the attached list of Frequently Asked Questions.   www.fdic.gov/news/news/financial/2009/fil09039.html 

July 6, 2009 - The Federal Reserve Board on Monday announced the execution of a Written Agreement by and among Amboy Bancorporation, a registered bank holding company, Amboy Bank, a state chartered member bank, both of Old Bridge, New Jersey, the Federal Reserve Bank of New York, and the New Jersey Department of Banking and Insurance. www.federalreserve.gov/newsevents/press/enforcement/20090706a.htm 

July 2, 2009 - OCC Appoints Receiver for First National Bank of Danville - The Office of the Comptroller of the Currency today appointed the Federal Deposit Insurance Corporation as receiver for First National Bank of Danville, Danville, Illinois. First National Bank of Danville, with approximately $163 million of total assets as of May 31, 2009, was chartered as a national bank on October 26, 1863. www.occ.treas.gov/ftp/release/2009-80.htm 

July 2, 2009 - The PrivateBank and Trust Company, Chicago, Illinois, Assumes All of the Deposits of Founders Bank, Worth, Illinois - Founders Bank, Worth, Illinois, was closed today by the Illinois Department of Financial and Professional Regulation, Division of Banking, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with The PrivateBank and Trust Company, Chicago, Illinois, to assume all of the deposits of Founders Bank. www.fdic.gov/news/news/press/2009/pr09119.html  

July 2, 2009 - State Bank of Texas, Irving, Texas, Assumes All of the Deposits of Millennium State Bank of Texas, Dallas, Texas - Millennium State Bank of Texas, Dallas, Texas, was closed today by the Texas Department of Banking, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with State Bank of Texas, Irving, Texas, to assume all of the deposits of Millennium State Bank of Texas. www.fdic.gov/news/news/press/2009/pr09118.html 

July 2, 2009 - First Financial Bank, National Association, Terre Haute, Indiana, Assumes All of the Deposits of the First National Bank of Danville, Danville, Illinois - The First National Bank of Danville, Danville, Illinois, was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with First Financial Bank, N.A., Terre Haute, Indiana, to assume all of the deposits of The First National Bank of Danville. www.fdic.gov/news/news/press/2009/pr09117.html 

July 2, 2009 - Galena State Bank and Trust, Galena, Illinois, Assumes All of the Deposits of the Elizabeth State Bank, Elizabeth, Illinois - The Elizabeth State Bank, Elizabeth, Illinois, was closed today by the Illinois Department of Financial and Professional Regulation, Division of Banking, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Galena State Bank and Trust, Galena, Illinois, to assume all of the deposits of The Elizabeth State Bank. www.fdic.gov/news/news/press/2009/pr09116.html 

July 2, 2009 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm 
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July 2, 2009 - The Harvard State Bank, Harvard, Illinois, Assumes All of the Deposits of Rock River Bank, Oregon, Illinois - Rock River Bank, Oregon, Illinois, was closed today by the Illinois Department of Financial and Professional Regulation, Division of Banking, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with The Harvard State Bank, Harvard, Illinois, to assume all of the deposits of Rock River Bank. www.fdic.gov/news/news/press/2009/pr09115.html 

July 2, 2009 - The California State Controller's Office has announced that it may issue registered warrants, or IOUs, for some payments as early as today. These registered warrants would not be payable immediately, but rather on a future date. These warrants will be identified with the word "REGISTERED" on the front. www.federalreserve.gov/newsevents/press/bcreg/20090702b.htm 

July 2, 2009 - The First National Bank of Beardstown, Beardstown, Illinois, Assumes All of the Deposits of the First State Bank of Winchester, Winchester, Illinois - The First State Bank of Winchester, Winchester, Illinois, was closed today by the Illinois Department of Financial and Professional Regulation, Division of Banking, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with The First National Bank of Beardstown, Beardstown, Illinois, to assume all of the deposits of The First State Bank of Winchester. www.fdic.gov/news/news/press/2009/pr09114.html 

July 2, 2009 - State Bank of Lincoln, Lincoln, Illinois Assumes All of The Deposits of the John Warner Bank, Clinton, Illinois - The John Warner Bank, Clinton, Illinois, was closed today by the Illinois Department of Financial and Professional Regulation, Division of Banking, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with State Bank of Lincoln, Lincoln, Illinois, to assume all of the deposits of The John Warner Bank. www.fdic.gov/news/news/press/2009/pr09113.html 

July 2, 2009 - FDIC Board Approves Proposed Policy Statement on Qualifications for Failed Bank Acquisitions - The FDIC Board today authorized publication of a Proposed Statement of Policy on Qualifications for Failed Bank Acquisitions. This proposed policy statement would provide guidance to private capital investors interested in acquiring or investing in the assets and liabilities of failed banks or thrifts regarding the terms and conditions of the investments or acquisitions. www.fdic.gov/news/news/press/2009/pr09112.html 

July 2, 2009 - 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 April 2009 www.fdic.gov/news/news/press/2009/pr09110.html 

July 2, 2009 - FDIC Announces Settlement With Advanta Bank Corporation for Deceptive and Unfair Practices - Today the Federal Deposit Insurance Corporation announced a settlement with Advanta Bank Corporation, Draper, Utah for deceptive and unfair practices in violation of section 5 of the Federal Trade Commission Act. www.fdic.gov/news/news/press/2009/pr09109.html 

July 2, 2009 - Statistical Release - E.15 Agricultural Finance Databook www.federalreserve.gov/releases/e15/default_2009.htm 

July 2, 2009 - Agencies Publish Final Rules and Guidelines to Promote Accurate Reports About Consumers - The federal financial regulatory agencies and the Federal Trade Commission yesterday published final rules and guidelines to promote the accuracy and integrity of information furnished to credit bureaus and other consumer reporting agencies, and widely used to determine consumers' eligibility for credit, employment, insurance, and rental housing.
Press Release: www.federalreserve.gov/newsevents/press/bcreg/20090702a.htm 
Press Release: www.fdic.gov/news/news/press/2009/pr09111.html 
Press Release: www.occ.treas.gov/ftp/release/2009-79.htm 

July 2, 2009 - The Federal Reserve Board on Thursday announced the execution of a Written Agreement by and between First DuPage Bancorp, Inc., Westmont, Illinois, a registered bank holding company, and the Federal Reserve Bank of Chicago. www.federalreserve.gov/newsevents/press/enforcement/20090702a.htm 

July 2, 2009 - Community Reinvestment Act - Notice of Proposed Rulemaking - The Office of the Comptroller of the Currency, along with the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of Thrift Supervision recently proposed changes to OCC rules implementing the Community Reinvestment Act. www.occ.treas.gov/ftp/bulletin/2009-20.html 

July 1, 2009 - Should Federal Government Bail Out the States? - Chicago Fed Letter examines the federal government's role in helping states in past recessions. www.chicagofed.org/publications/fedletter/cflaugust2009_265.pdf 

July 1, 2009 - Agencies Publish Final Rules and Guidelines to Promote Accurate Reports About Consumers - The federal financial regulatory agencies and the Federal Trade Commission today published final rules and guidelines to promote the accuracy and integrity of information furnished to credit bureaus and other consumer reporting agencies, and widely used to determine consumers' eligibility for credit, employment, insurance, and rental housing. www.ncua.gov/news/press_releases/2009/FactAct312Release.pdf 

July 1, 2009 - The Federal Financial Institutions Examination Council today issued the Statement on Regulatory Conversions to reaffirm that the supervisors are unified in their approach to regulatory conversions. www.ffiec.gov/press/pr070109.htm
 
July 1, 2009 - Interest on Required Balances and Excess Balances - The Federal Reserve Banks pay interest on required reserve balances--balances held at Reserve Banks to satisfy reserve requirements--and on excess balances--balances held in excess of required reserve balances and contractual clearing balances. The Board of Governors has prescribed rules governing the payment of interest by Federal Reserve Banks in Regulation D www.federalreserve.gov/monetarypolicy/reqresbalances.htm 

July 1, 2009 - Statistical Release - G.5 Foreign Exchange Rates (Monthly) - Foreign Exchange Rates - The Table Below Shows The Average Rates Of Exchange In June 2009 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/ 

 

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