Bank Regulatory News
March 30, 2001 - The Federal Reserve announced that a Joint Central
Bank Research Conference on Risk Measurement and Systemic Risk will be
held on March 7-8, 2002, at the Bank for International Settlements (BIS)
in Basel, Switzerland. www.federalreserve.gov/boarddocs/press/General/2001/20010330/default.htm
March 28, 2001 - NCUA Chairman Dennis Dollar met with Phillip G.
Elliott, chief executive officer of the National Credit Union Association,
Inc., the second largest credit union trade association in the nation of
March 28, 2001 - FDIC releases materials pertaining to the Reports of
Condition and Income (Call Report) for the March 31, 2001, report date. http://www.fdic.gov/news/news/financial/2001/fil0124.html
March 28, 2001 – The Federal Reserve Board released
remarks by Governor Laurence H. Meyer during The 2001 Homer Jones Memorial
Lecture, at Washington University, St. Louis, Missouri.
March 27, 2001 – In a joint press release, Agencies
clarify Guidance on the Accounting and Reporting for Loans Held for Sale.
March 27, 2001 – The FDIC releases Guidance on the
Timing and Preparation of Privacy Notices to Conform to Fair Credit
Reporting Act Requirements. Press
March 27, 2001 – The Federal Reserve Board released
remarks by Chairman Alan Greenspan on “The challenge of measuring and
modeling a dynamic economy at the Washington Economic Policy Conference of
the National Association for Business Economics, Washington, D.C.
March 26, 2001 - The Federal Reserve conducted a
supplementary Senior Loan Officer Opinion Survey on Bank Lending Practices
in early March to assess changes in lending conditions since the beginning
of the year. www.federalreserve.gov/BoardDocs/SnLoanSurvey/200103/default.htm
March 26, 2001 - The Federal Reserve Board announced
its approval of the application of Franklin Resources, Inc., San Mateo,
California, to become a bank holding company by acquiring Fiduciary Trust
Company International, New York, New York.
March 26, 2001 - The Federal Reserve Board announced
its approval of the applications of Bank Hapoalim, B.M., and Zohar
Hashemesh Le'Hashkaot Ltd., both of Tel Aviv, Israel; Hapoalim U.S.A.
Holding Company, Inc., New York, New York; Arison Holdings (1998) Ltd.,
Tel Aviv, Israel; and Israel Salt Industries Ltd., Atlit, Israel, to
become bank holding companies by acquiring Signature Bank, New York, New
March 23, 2001 - The Federal Reserve has long
supported meaningful public disclosure by banking and financial
organizations with the objective of enhancing market discipline and
fostering stable financial markets. Public
disclosure and market discipline are important complements to bank
supervision and regulation. www.federalreserve.gov/boarddocs/SRLETTERS/2001/sr0106.htm#pagetop
23, 2001 - OTS announces location for filing CRA-related agreements.
23, 2001 - The Federal Reserve Board issued supervisory guidance that
encourages large banking organizations to enhance their public disclosures
by using the recommendations of the Working Group on Public Disclosure.
March 23, 2001 – The Federal Reserve Board released
remarks by Governor Edward M. Gramlich regarding “Tackling Predatory
Lending: Regulation and Education.”
March 23, 2001 - NCUA Conversations with America
March 23, 2001 - The Board of Governors of the
Federal Reserve System published in the Federal Register the attached
final rule amending Regulation E, which implements the Electronic Fund
Transfer Act (EFTA). The rule took effect on March 9, 2001. However,
compliance with the amendments is not mandatory until October 1, 2001.
March 22, 2001 - The Federal Reserve Board announced
procedures for the filing of documents required by the CRA Sunshine
Requirements of the Federal Deposit Insurance Act (CRA Sunshine
Requirements), which were enacted by the Gramm-Leach-Bliley Act of 1999.
March 22, 2001 - The
Federal Reserve Board announced that it has revised its brochure When Your
Home Is on the Line: What You Should Know about Home Equity Lines of
March 21, 2001 - According to the Federal Deposit
Insurance Corporation (FDIC), continuing increases in problem commercial
loans are focusing a spotlight on declining conditions in business
March 21, 2001 – The Federal Reserve Board released
the Annual Report on the Freedom of Information Act for Fiscal Year 2000.
March 20, 2001 – The National Credit Union
Administration provides its Equal Employment Opportunity Policy Statement.
March 20, 2001 - The
Federal Open Market Committee at its meeting today decided to lower its
target for the federal funds rate by 50 basis points to 5 percent.
March 19, 2001 - The Federal Reserve Bank of St.
Louis will coordinate the provision of financial services on behalf of the
Federal Reserve System to the largest user of those services - the U.S.
Treasury Department. http://www.stls.frb.org/general/releases/rel01/nr0319.html
March 16, 2001 - The Federal Reserve Board announced
the execution of a Written Agreement by and between USABancShares.com,
Inc., Philadelphia, Pennsylvania, and the Federal Reserve Bank of
March 15, 2001 – The Federal Reserve Board releases
the Monetary Policy Report to the Congress.
March 15, 2001 - Office of Thrift Supervision
Director Ellen Seidman announces Staff Paper that finds Real Estate
Lending less risky than Capital Rules suggest.
March 15, 2001 - OTS to simplify certain Capital
Requirements and revise Liquidity Standards.
March 15, 2001 - OCC Releases CRA Evaluations for 15
National Banks. http://www.occ.treas.gov/cra/mar01.htm
March 14, 2001 - The Federal Reserve Board compiles
quarterly data on domestically chartered insured commercial banks that
have consolidated assets of $100 million or more and releases the data
about twelve weeks after the end of each quarter.
March 14, 2001 - The Federal Reserve Board today
announced its approval of the proposal of Mitsubishi Tokyo Financial
Group, Inc., Tokyo, Japan ("MTFG"), to become a bank holding
March 14, 2001 – The OCC announced that Federal
banking agencies have stated that any final Fair Credit Reporting Act rule
will not require depository institutions to revise Gramm Leach Bliley Act
privacy notices prepared in reliance on existing FCRA law and delivered to
consumers before next January. http://www.occ.treas.gov/ftp/release/2001-30.txt
March 14, 2001 - The Federal Deposit Insurance
Corporation (FDIC), the Board of Governors of the Federal Reserve System,
the Office of the Comptroller of the Currency, and the Office of Thrift
Supervision have jointly approved and issued guidelines establishing
standards for safeguarding customer information as required by the
Gramm-Leach-Bliley Act (GLBA). Press Release: http://www.fdic.gov/news/news/financial/2001/fil0122.html
March 14, 2001 - The federal banking regulatory
agencies approved a joint rulemaking that extends the effective date of
consumer protection rules for the sale of insurance products by depository
institutions on their premises, or on their behalf. The new effective date
will be October 1, 2001, rather than the original effective date of April
1, 2001. http://www.fdic.gov/news/news/press/2001/pr2101.html
March 13, 2001 – The NCUA released the CU/NCUSIF
Quick Facts as of December 31, 2000.
March 13, 2001 - The NCUA Board is amending its
chartering and field of membership manual to make two changes to ease the
burden on applicants for community charters, expansions or conversions.
March 13, 2001 - The Federal Reserve Board published
revisions to the Regulation E (Electronic Fund Transfers) Official Staff
Commentary, which applies and interprets the requirements of the
regulation. The effective
date is March 15, 2001 with the mandatory compliance date set at January
1, 2002. www.federalreserve.gov/BoardDocs/Press/boardacts/2001/20010313/
March 13, 2001 -
The Federal Reserve Board announced its approval of the
applications of Friedman, Billings, Ramsey Group, Inc.; FBR Bancorp, Inc.;
Money Management Associates, Inc.; and Money Management Associates (LP),
Inc., all of Arlington, Virginia, and Money Management Associates, L.P.,
Bethesda, Maryland, to become bank holding companies by acquiring FBR
National Bank, Bethesda, Maryland. www.federalreserve.gov/boarddocs/press/BHC/2001/20010313/default.htm
12, 2001 - NCUA Acting Chairman Dennis Dollar told state and federal
regulators that President Bush’s proposed tax cut plan provides credit
unions with “an excellent opportunity to emphasize the value of savings
and paying down debt while improving their liquidity position at the same
March 12, 2001 - The Federal Reserve Board announced
its approval of the applications and notices of Fifth Third Bancorp,
("Fifth Third") and Fifth Third Financial Corporation ("FTFC"),
both in Cincinnati, Ohio, to acquire Old Kent Financial Corporation, Grand
March 9, 2001 - The NCUA Board is proposing a new
rule that would permit credit unions with advanced levels of net worth and
consistently strong supervisory examination ratings to be exempt, in whole
or in part, from certain NCUA regulations that are not specifically
required by statute. http://www.ncua.gov/news/proposed_regs/12CFRPart722and742-proposed.html
March 9, 2001 - OCC reports Trading Revenues remain
consistent as derivatives volume reaches record level.
March 9, 2001 - The FFIEC announced that The December
31, 2000 Uniform Bank Performance Report (UBPR) now being distributed to
all insured commercial banks and Federal Deposit Insurance Corporation -
Insured Savings Banks (FDIC-ISB) is now available for sale to the public. http://www.ffiec.gov/press/pr030901.htm
March 9, 2001 - OCC has advised that two entities may
be conducting banking business in the United States without authorization.
March 9, 2001 - FDIC's Survey of Real Estate Trends
indicated that conditions generally remained favorable in the nation's
real estate markets during the second half of 2000 but there was some
deterioration, especially involving single-family homes and local retail
March 9, 2001 – The Federal Reserve Board released
remarks by Vice Chairman Roger W. Ferguson, Jr., on Understanding
Financial Consolidation. www.federalreserve.gov/BoardDocs/Speeches/2001/20010309/default.htm
March 8, 2001 - The National Credit Union
Administration voted to waive an insurance premium for 2001 and pay a 3
percent dividend of $99.5 million to the nation's 10,316 federally insured
credit unions. http://www.ncua.gov/news/press_releases/pr030801.html
March 8, 2001 - The NCUA released a summary of
actions taken by the NCUA Board during the March 8, 2001 meeting. http://www.ncua.gov/news/board_reports/BAB030801.html
March 8, 2001 - OCC Comptroller Hawke says Bankers
and Regulators are better prepared to deal with challenging economy. http://www.occ.treas.gov/ftp/release/2001-26a.txt
March 8, 2001 - The Federal Reserve Board announced
that the Consumer Advisory Council will hold its next meeting on Thursday,
March 22, 2001, open to public observation.
March 8, 2001 - The Federal Reserve Board announced
new Internet resources for Spanish-speaking consumers. Keys to Vehicle
Leasing: A Consumer Guide can be found at www.federalreserve.gov/pubs/leasing/guide_spanish.htm.
A Brochure about Shopping for and Negotiating the Best Mortgage is located
March 7, 2001 - OTS reports near record Thrift
earnings in 2000; industry Mortgage Originations top $200 Billion.
March 7, 2001 - The Appraisal Standards Board (ASB)
of The Appraisal Foundation recently released the Appraisal Standards
Statement No.10, "Assignments for Use by a Federally Insured
Depository Institution in a Federally Related Transaction." Press
March 7, 2001 – The Federal Reserve released
remarks by Chairman Alan Greenspan before the Independent Community
Bankers of America on Banking supervision.
March 7, 2001 - FDIC Chairman Donna Tanoue previewed
the deposit insurance reform recommendations the agency plans to issue at
the end of this month. http://www.fdic.gov/news/news/press/2001/pr1901.html
March 7, 2001 – The Federal Deposit Insurance
Corporation reported annual profits of the commercial banking industry
fell in the year 2000, snapping an eight-year streak of annual earnings
March 7, 2001 - The Federal Reserve announced that a
majority of Federal Reserve Districts reported sluggish to modest economic
growth in February, while others generally reported mixed conditions.
March 6, 2001 - Virginia has become the first state
in the nation to adopt a new act creating a uniform commercial contract
law for computer software, data, and online contracts. UCITA will become
effective in Virginia July 1, 2001. http://www.nccusl.org/pressreleases/pr3-15-00.htm
March 6, 2001 - The Office of Thrift Supervision
(OTS) announced savings associations' Community Reinvestment Act (CRA)
performance evaluation ratings that became available in February 2001. http://www.ots.treas.gov/docs/77114.html
March 5, 2001 - The Federal Reserve Board announced
its approval of the application of Société Générale, Paris, France, to
establish an agency in Greenwich, Connecticut. http://www.federalreserve.gov/boarddocs/press/BHC/2001/20010305/default.htm
March 5, 2001 - The Federal Deposit Insurance
Corporation (FDIC) issued its monthly list of state nonmember banks
recently evaluated for compliance with the Community Reinvestment Act
March 5, 2001 - NCUA Chairman Dennis Dollar has
selected Nicholas N. Owens as special assistant to the chairman for public
March 5, 2001 - The Federal Reserve Board released
remarks by Governor Laurence H. Meyer who states that Pillar 2 of the New
Basel Capital Proposal plays a larger role by giving banks more incentives
to invest in better information systems and controls, and looking closely
to see that their processes work. www.federalreserve.gov/BoardDocs/Speeches/2001/20010305/default.htm
March 5, 2001 - Comptroller of the Currency John D.
Hawke, Jr. outlines the Global Challenges of Internet Banking. http://www.occ.treas.gov/ftp/release/2001-23.txt
March 2, 2001 - The Office of the Comptroller of the
Currency (OCC) issued a bulletin that outlines the risks involved in the
offering of account aggregation services by national banks and the
management controls that are needed in connection with such services.
March 2, 2001 - The Office of Thrift Supervision
(OTS) issued rules designed to make application processing easier to
understand and more predictable for both applicants and the agency. http://www.ots.treas.gov/docs/77113.html
March 2, 2001 - The Federal Reserve released a list
of bank holding companies whose elections to become or be treated as
financial holding companies are effective. http://www.federalreserve.gov/GeneralInfo/FHC/default.htm
March 2, 2001 – The Federal Reserve Board published
the testimony of Chairman Alan Greenspan on current fiscal issues before
the Committee on the Budget and the U.S. House of Representatives.
March 1, 2001 - Comptroller Hawke Praises Community
Development Lenders. http://www.occ.treas.gov/ftp/release/2001-20a.txt
March 1, 2001 - The Federal Deposit Insurance
Corporation (FDIC) is requesting public comment on a proposed rule
governing the regulatory capital treatment for equity investments in
nonfinancial companies held by FDIC-supervised banks. http://www.fdic.gov/news/news/financial/2001/fil0119.html
March 1, 2001 - The Federal Reserve Board published a
final rule amending Regulation E (Electronic Fund Transfers) to implement
provisions of the Gramm-Leach-Bliley Act (GLBA) requiring disclosure of
automated teller machine (ATM) fees. www.federalreserve.gov/BoardDocs/Press/boardacts/2001/20010301/default.htm
March 1, 2001 - The Federal Deposit Insurance
Corporation (FDIC) has issued the public list of institutions that it has
scheduled for a Community Reinvestment Act (CRA) examination during the
second quarter of 2001. Press Release http://www.fdic.gov/news/news/press/2001/pr1501.html;