Bank Regulatory News

March 2004

You can receive the regulatory press releases every week by subscribing to
The E-mail Banking News at 
https://yennik.com/newletter_page.htm.  There is no charge for the e-newsletter.  
Contact Kinney Williams at examiner@yennik.com if you have any questions.

March 31, 2004 - Statistical Release E.15 Agricultural Finance Databook - These data are derived from quarterly sample surveys conducted by the Federal Reserve System during the first full week of the second month of each quarter. www.federalreserve.gov/releases/e15/default.htm

March 31, 2004 - Governor Edward M. Gramlich - Budget and Trade Deficits: Linked, Both Worrisome in the Long Run, but not Twins At the Los Angeles Chapter of the National Association for Business Economics Luncheon, Los Angeles, California
www.federalreserve.gov/boarddocs/speeches/2004/20040225/default.htm

March 31, 2004 - NCUA - Statement of NCUA Chairman Dennis Dollar Announcing His Resignation Effective April 30, 2004 www.ncua.gov/news/press_releases/2004/NR04-0331.htm

March 31, 2004 - Retail Payment Systems Guidance 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 the risks associated with retail payment systems.
FFIEC:  www.ffiec.gov/press/pr033104.htm 
OTS:  http://www.ots.treas.gov/docs/77407.html
OCC:  www.occ.treas.gov/ftp/bulletin/2004-14.txt 
NCUA:  www.ncua.gov/news/press_releases/2004/FFIEC040331.pdf

March 31, 2004 -FDIC Makes Public February Enforcement Actions; No Administrative Hearings Scheduled - The Federal Deposit Insurance Corporation today released a list of orders of administrative enforcement actions taken against banks and individuals in February. No administrative hearings are scheduled for April. www.fdic.gov/news/news/press/2004/pr3604.html

March 30, 2004 - This issuance notifies national banks that the OCC has been advised by the Finanzmarktaufsicht--Financial Market Authority of Austria that the Investment Bank of Austria has not been granted a banking license by Austrian authorities, and the entity is not authorized to conduct banking business in Austria. The contact information on the subject entity's Web site contains a street address in St. Paul, Minnesota, and lists nonworking telephone and facsimile numbers. www.occ.treas.gov/ftp/alert/2004-10.txt

March 30, 2004 - St. Louis Fed's Poole Lauds U.S.' "Superb Entrepreneurial Environment."  www.stlouisfed.org/news/releases/2004/03_30_04.htm

March 30, 2004 - 2003 FFIEC Annual Report - www.ffiec.gov/PDF/annrpt03.pdf

March 30, 2004 - FDIC Issues Removal and Prohibition Order Against Former Georgia Banker - The Federal Deposit Insurance Corporation has issued a removal and prohibition order against Stephanie E. Stewart. www.fdic.gov/news/news/press/2004/pr3504.html

March 30, 2004 - FDIC Issues Removal and Prohibition Order Against Former Texas Banker - The Federal Deposit Insurance Corporation has issued a removal and prohibition order against Teresa Rodriguez. www.fdic.gov/news/news/press/2004/pr3404.html

March 30, 2004 - FDIC Issues Removal and Prohibition Order Against Former Texas Banker - The Federal Deposit Insurance Corporation has issued a removal and prohibition order against Sandra Ruiz. www.fdic.gov/news/news/press/2004/pr3304.html

March 30, 2004 - FDIC Issues Removal and Prohibition Order and Civil Money Penalty Against Former South Carolina Banker - The Federal Deposit Insurance Corporation issued a removal and prohibition order and imposed a $10,000 civil money penalty against Larry D. Bailey.  www.fdic.gov/news/news/press/2004/pr3204.html

March 30, 2004 - FDIC Issues Removal And Prohibition Order Against Former South Dakota Banker - The Federal Deposit Insurance Corporation has issued a removal and prohibition order against Bryan M. Plack. Plack was a branch manager of Security Bank, Madison, SD. www.fdic.gov/news/news/press/2004/pr3104.html

March 30, 2004 - Statistical Release G.20 Finance Companies www.federalreserve.gov/releases/g20/current/default.htm

March 30, 2004 - NCUA - Chairman Dollar Says NCUA Board Will Consider Proposal To Allow Low-Income Student-Run Credit Unions To Apply For TAG Grants And CDLRF Loans.
www.ncua.gov/news/press_releases/2004/NR04-0329-2.htm

March 30, 2004 - Governor Ben S. Bernanke Trade and Jobs  At the Distinguished Speaker Series, Fuqua School of Business, Duke University, Durham, North Carolina.  http://www.federalreserve.gov/boarddocs/speeches/2004/20040330/default.htm

March 29, 2004 - NCUA - PALS Workshop Teaches Credit Unions to Safely Make More Business Loans - More than 230 credit union leaders learned innovative ways to safely make member business loans at the National Credit Union Administration's latest Partnering and Leadership Successes workshop, March 25 in San Francisco. www.ncua.gov/news/press_releases/2004/NR04-0329.htm

March 27, 2004 - Governor Ben S. Bernanke - Monetary Policy Modeling: Where Are We and Where Should We Be Going? At the Federal Reserve Board Models and Monetary Policy Conference, Washington, D.C. www.federalreserve.gov/boarddocs/speeches/2004/20040327/default.htm

March 26, 2004 - Governor Donald L. Kohn - Research at the Federal Reserve Board: The Contributions of Henderson, Porter, and Tinsley At the Federal Reserve Board Models and Monetary Policy Conference, Washington, D.C. www.federalreserve.gov/boarddocs/speeches/2004/200403262/default.htm

___________________

March 26, 2004 - The OCC has updated two annual publications: Significant Precedents, a compilation of precedential legal determinations, corporate licensing decisions and community development investments permitted by the OCC, and Activities Permissible for a National Bank, a compilation of the OCC's authorizations of activities that the agency has determined to be part of, or incidental to, the business of banking.
http://www.occ.treas.gov/sigpre.pdf 
http://www.occ.treas.gov/corpapps/BankAct.pdf

March 26, 2004 - Donald E. Powell Chairman Federal Deposit Insurance Corporation Remarks Before The National Association For Business Economics March 26, 2004 Washington, DC.   www.fdic.gov/news/news/press/2004/pr3004.html

March 26, 2004 - Legal Interpretations Provision of fleet management services to some non-leased vehicles.  www.federalreserve.gov/boarddocs/legalint/bhc_changeincontrol/2003/20031219/

March 26, 2004 - The Federal Reserve Board on Friday announced that public meetings will be held next month in New York and Chicago on the proposal by J. P. Morgan Chase & Co. to merge with Bank One Corporation. www.federalreserve.gov/boarddocs/press/orders/2004/20040326/default.htm

March 26, 2004 - Remarks by Governor Edward M. Gramlich At the Federal Reserve Board Models and Monetary Policy Conference, Washington, D.C. www.federalreserve.gov/boarddocs/speeches/2004/20040326/default.htm

March 26, 2004 - The Federal Reserve Board on Friday issued revisions to Regulation Z, which implements the Truth in Lending Act, and to the official staff commentary that applies and interprets the requirements of the regulation. www.federalreserve.gov/boarddocs/press/bcreg/2004/20040326/default.htm

March 25, 2004 - First Senior Deputy Comptroller Julie L. Williams Sets the Record Straight Regarding Nature, Consequences of OCC's Recent Preemption Regulations.
Press Release: www.occ.treas.gov/scripts/newsrelease.aspx?Doc=ZHFIGBB6.xml
Attachment: www.occ.treas.gov/ftp/release/2004-25a.pdf

March 25, 2004 - St. Louis Fed's Poole - Outsourcing, Globalization Bring "Important Long-Run Benefits" To United States as a Whole - Much of what William Poole hears and reads about international trade these days makes him apprehensive. Poole, president and CEO of the Federal Reserve Bank of St. Louis, addressed trade, wages and employment in remarks to students, faculty and businesspeople at LeMoyne-Owen College.  www.stlouisfed.org/news/releases/2004/03_25_04.htm

March 25, 2004 - The Federal Reserve Board on Thursday released the minutes of its discount rate meetings from December 15, 2003, through January 26, 2004. www.federalreserve.gov/boarddocs/press/monetary/2004/20040325/default.htm

March 25, 2004 - Governor Donald L. Kohn Monetary Policy in a Time of Macroeconomic Transition At the 2004 Washington Economic Policy Conference, presented by the National Association for Business Economics and the Association for University Business and Economic Research, Washington, D.C. www.federalreserve.gov/boarddocs/speeches/2004/200403252/default.htm

March 25, 2004 - Chairman Alan Greenspan - Rural economic issues  At New Approaches to Rural Policy: Lessons from Around the World, an international conference convened by the Federal Reserve Bank of Kansas City, Organization for Economic Cooperation and Development, Rural Policy Research Institute, and The Countryside Agency, Warrenton, Virginia www.federalreserve.gov/boarddocs/speeches/2004/20040325/default.htm

March 24, 2004 - OCC Issues Proposed Rule to Assist Consumers in Identifying Operating Subsidiaries Subject to OCC Supervisory Authority - The Office of the Comptroller of the Currency today published a proposed rule to assist consumers in identifying national bank operating subsidiaries that are subject to OCC supervisory authority.
Press Release: www.occ.treas.gov/scripts/newsrelease.aspx?Doc=TLMZJPDT.xml
Attachment: www.occ.treas.gov/ftp/release/2004-24a.pdf

March 24, 2004 - The Federal Reserve Board on Wednesday announced the execution of a Written Agreement by and between the Planters Bank and Trust Company, Staunton, Virginia and the Federal Reserve Bank of Richmond. www.federalreserve.gov/boarddocs/press/Enforcement/2004/20040324/default.htm

March 24, 2004 - The Federal Reserve Board on Wednesday announced the execution of a Written Agreement by and between the Virginia Heartland Bank, Fredericksburg, Virginia and the Federal Reserve Bank of Richmond. www.federalreserve.gov/boarddocs/press/Enforcement/2004/200403242/default.htm

March 24, 2004 - The Federal Reserve Board on Wednesday announced the execution of a Written Agreement by and among Midwest Banc Holdings, Inc., Melrose Park, Illinois; the Midwest Bank and Trust Company, Elmwood Park, Illinois; the State of Illinois Office of Banks and Real Estate, Springfield, Illinois; and the Federal Reserve Bank of Chicago. www.federalreserve.gov/boarddocs/press/Enforcement/2004/200403243/default.htm

March 23, 2004 - OCC Issues Contact Information for Questions Concerning Tying - The Office of the Comptroller of the Currency is publishing contact points at the OCC for banks and customers with questions and concerns about tying.  The term "tying" refers to practices where the availability or price of one product or service is conditioned or "tied" to a customer also obtaining another product or service from the bank.  Some types of tying are permissible, while others are prohibited. www.occ.treas.gov/scripts/newsrelease.aspx?Doc=5585SPNY.xml

March 23, 2004 - FDIC Bars from Banking Two Involved in Bestbank Failure - The Federal Deposit Insurance Corporation issued removal and prohibition orders against Glenn M. Gallant and Douglas R. Baetz. www.fdic.gov/news/news/press/2004/pr2904.html

March 23, 2004 - FDIC Issues Removal and Prohibition Order Against Former Minnesota Banker - The Federal Deposit Insurance Corporation issued a removal and prohibition order against Bradley J. Oeltjenbruns. www.fdic.gov/news/news/press/2004/pr2804.html

March 23, 2004 - FDIC Takes Disciplinary Action Against Former Massachusetts Banker  - The Federal Deposit Insurance Corporation has reached agreement on a civil money penalty with Kenneth B. Osborn www.fdic.gov/news/news/press/2004/pr2704.html

March 23, 2004 - FDIC Issues Removal and Prohibition Order Against Former Tennessee Banker - The Federal Deposit Insurance Corporation issued a removal and prohibition order against Jimmy Lee Birdwell. www.fdic.gov/news/news/press/2004/pr2604.html

March 23, 2004 - FDIC Issues Removal and Prohibition Order Against Former Arkansas Banker - The Federal Deposit Insurance Corporation issued a removal and prohibition order against Linda G. Cameron. www.fdic.gov/news/news/press/2004/pr2504.html

March 23, 2004 - Exhibit Elements Fed Center - Exploring Our Nation's Central Bank - The Fed Center was designed to engage high school students and life long learners in the role the Federal Reserve plays in the regional and national economies. Thought-provoking icons and compelling interactive exhibits invite visitors to discover the importance of the Federal Reserve by making functions such as monetary policy, the payments system, and banking supervision and regulation understandable and relevant to our lives. www.frbsf.org/news/releases/2004/322elements.pdf

March 23, 2004 - Fed Center - Exploring Our Nation's Central Bank - The Fed Center is an interactive exhibit and museum designed to teach diverse audiences about the role the Federal Reserve plays in the national and regional economies. www.frbsf.org/news/releases/2004/322factsheet.pdf

March 22, 2004 - Cuban Asset Control Regulations - The Department of the Treasury's Office of Foreign Assets Control has updated its list of approved service providers to Cuba. http://www.fdic.gov/news/news/financial/2004/fil3204.html

March 22, 2004 - Statistical Release - E.2 Survey of Terms of Business Lending www.federalreserve.gov/releases/e2/current/default.htm

March 22, 2004 - The Federal Reserve Board on Monday announced the appointment of Sandra F. Braunstein as Director of the Division of Consumer and Community Affairs, effective April 1, 2004. www.federalreserve.gov/boarddocs/press/other/2004/20040322/default.htm

March 22, 2004 - Reports of Condition and Income for First Quarter 2004 - The enclosed materials pertain to the Reports of Condition and Income for the March 31, 2004, report date. www.fdic.gov/news/news/financial/2004/fil3104.html

_________________

March 19, 2004 - FDIC Approves Assumption of all the Deposits of Reliance Bank, White Plains, New York - The Board of Directors of the Federal Deposit Insurance Corporation has approved the assumption of all the deposits of Reliance Bank, White Plains, New York, by Union State Bank, Orangeburg, New York. www.fdic.gov/news/news/press/2004/pr2404.html

March 18, 2004 - NCUA Chairman Dennis Dollar's Statement Regarding HR 1375, the "Financial Services Regulatory Relief Act of 2003" As Approved by House of Representatives. 
www.ncua.gov/news/press_releases/2004/Stmt04-0318.pdf

March 18, 2004 - NCUA - Results of the March 18, 2004 NCUA Board Meeting www.ncua.gov/news/board_reports/board_reports.html

March 18, 2004 - Minutes of the Federal Open Market Committee January 27-28, 2004 - A meeting of the Federal Open Market Committee was held in the offices of the Board of Governors of the Federal Reserve System in Washington, D.C., starting at 2:00 p.m. on Tuesday, January 27, 2004, and continuing at 9:00 a.m. on Wednesday, January 28, 2004. www.federalreserve.gov/FOMC/minutes/20040128.htm

March 18, 2004 - The Federal Reserve Board on Thursday requested public comment on proposed changes to the public disclosure tables that are used to report data collected by lenders under the Home Mortgage Disclosure Act. www.federalreserve.gov/boarddocs/press/bcreg/2004/20040318/default.htm

March 18, 2004 - Modernization of Call Report Data Management - The federal banking agencies are in the process of designing, building and operating a shared data repository (Central Data Repository - "CDR") to modernize the management of Call Report data. Under the auspices of the Federal Financial Institutions Examination Council, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, and the Office of the Comptroller of the Currency have collaborated on a conceptual design to collect, validate, manage and distribute Call Report information. www.fdic.gov/news/news/financial/2004/fil3004.html

March 17, 2004 - Transactions With Affiliates - The FDIC has proposed a new Part 324 that would interpret the restrictions on affiliate transactions contained in sections 23A and 23B of the Federal Reserve Act for insured state nonmember banks. Comments are due by May 3, 2004. www.fdic.gov/news/news/financial/2004/fil2904.html

March 17, 2004 - FDIC Sells Assets of the Former Guaranty National Bank of Tallahassee, Tallahassee, Florida - Hancock Bank of Florida, Tallahassee, Florida, purchased approximately $56.6 million of the assets of the former Guaranty National Bank of Tallahassee, Tallahassee, Florida, from the Federal Deposit Insurance Corporation.  www.fdic.gov/news/news/press/2004/pr2304.html

March 17, 2004 - Remarks by Chairman Alan Greenspan Banking Before the Independent Community Bankers of America Convention, San Diego, California.  www.federalreserve.gov/boarddocs/speeches/2004/20040317/default.htm

March 16, 2004 - OCC Announces New Interpretations and Actions - March 2004  www.occ.treas.gov/interp/mar04/intmar04.htm

March 16, 2004 - State Government Finances: More Trouble Ahead? - States are facing perhaps the most severe budget crises in the post-World War II era. While the traditional response has been to raise taxes and fees or cut services (or both), state lawmakers may want to consider longer-range revenue and expenditure policies that will allow them to do a better job of weathering future fiscal crises. www.stlouisfed.org/news/releases/2004/03_03_04.htm

March 16, 2004 - New Currency Transaction Report - The Department of the Treasury's Financial Crimes Enforcement Network has issued a new Currency Transaction Report form - FinCEN Form 104 - which replaces the Internal Revenue Service's CTR Form 4789. www.fdic.gov/news/news/financial/2004/fil2804.html

March 16, 2004 - Donald E. Powell Chairman Federal Deposit Insurance Corporation Remarks Before The Independent Community Bankers Association March 16, 2004 San Diego, California www.fdic.gov/news/news/press/2004/pr2204.html

March 16, 2004 - The Federal Open Market Committee decided today to keep its target for the federal funds rate at 1 percent. The Committee continues to believe that an accommodative stance of monetary policy, coupled with robust underlying growth in productivity, is providing important ongoing support to economic activity. www.federalreserve.gov/boarddocs/press/monetary/2004/20040316/default.htm

March 15, 2004 - OCC Announces 18 New Enforcement Actions and Two Terminations - The Office of the Comptroller of the Currency today announced 18 new enforcement actions taken against national banks and individuals currently and formerly affiliated with national banks and two terminations of existing enforcement actions. www.occ.treas.gov/ftp/release/2004-21.htm

March 15, 2004 - OCC Releases CRA Evaluations For 32 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 February 15, 2004 through March 14, 2004. www.occ.treas.gov/scripts/newsrelease.aspx?Doc=LQO37WX5.xml

March 15, 2004 - The Federal Reserve Board on Monday announced its approval of the application and notice by National City Corporation, Cleveland, Ohio, to acquire Allegiant Bancorp, Inc., St. Louis, Missouri. www.federalreserve.gov/boarddocs/press/orders/2004/20040315/default.htm

March 15, 2004 - Will the Proposed Application of Basel II in the United States Encourage Increased Bank Merger Activity? Evidence from Past Merger Activity  Timothy H. Hannan and Steven J. Pilloff - This paper presents two tests of the hypothesis that adoption of the internal ratings-based approach to determining minimum capital requirements, as proposed in applying the Basel II capital accord in the United States, will cause adopting banking organizations to increase acquisition activity. www.federalreserve.gov/Pubs/FEDS/2004/200413/200413abs.html

March 15, 2004 - Potential Competitive Effects of Basel II on Banks in SME Credit Markets in the United States - Allen N. Berger We examine the likely competitive effects of the proposed implementation of the Basel II capital requirements on banks in the market for credit to SMEs in the U.S. www.federalreserve.gov/Pubs/FEDS/2004/200412/200412abs.html

March 15, 2004 - Industrial Production And Capacity Utilization - Industrial production rose 0.7 percent in February after having increased 0.8 percent in January. At 114.6 percent of its 1997 average, output in February was 2.7 percent above its February 2003 level. Manufacturing output rose 1.0 percent, and the gain was widespread. www.federalreserve.gov/Releases/G17/Current/default.htm

March 12, 2004 - FDIC Approves the Assumption of All the Deposits of Guaranty National Bank of Tallahassee, Tallahasee, Florida - The Federal Deposit Insurance Corporation (FDIC) has approved the assumption of all the deposits of Guaranty National Bank of Tallahassee, Tallahassee, Florida, by Hancock Bank of Florida, Tallahassee, Florida, a newly chartered bank. www.fdic.gov/news/news/press/2004/pr2104.html

________________

March 12, 2004 - NCUA - Small Credit Union's Rights under the Small Business Regulatory Enforcement Fairness Act of 1996 - This letter is to inform you of your rights as a small business entity under the Small Business Regulatory Enforcement Fairness Act of 1996.  www.ncua.gov/ref/SmallCU/SBREFACompliance.pdf

March 12, 2004 - Unauthorized Banking; Unlicensed Bank: Lincoln Bank and Trust Company Limited, Montserrat, WI - This issuance notifies national banks  that the OCC has received information that the Lincoln Bank and Trust Company Limited of Montserrat, WI, is claiming to hold a valid offshore banking license issued by the Financial Services Commission in Brades, Montserrat. This company's license was revoked on May 1, 2001, and has not been reinstated. www.occ.treas.gov/ftp/alert/2004-9.txt

March 12, 2004 - OCC Closes Guaranty National Bank of Tallahassee and Appoints FDIC Receiver - Guaranty National Bank of Tallahassee, Tallahassee, Florida, was closed today by the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation was appointed receiver. The bank, with approximately $71 million in assets, was chartered in 1986. www.occ.treas.gov/scripts/newsrelease.aspx?Doc=GWZSYG2.xml

March 12, 2004 - OCC Reports Derivative Volume Surpasses $70 Trillion - Derivatives held by U. S. commercial banks increased $3.9 trillion in the fourth quarter, to $71.1 trillion, the Office of the Comptroller of the Currency reported today in its quarterly Bank Derivatives Report.
Press Release: www.occ.treas.gov/scripts/newsrelease.aspx?Doc=M6Q98K6.xml
Attachment: www.occ.treas.gov/ftp/deriv/dq403.pdf

March 12, 2004 - Guidance on Safeguarding Customers Against E-Mail and Internet-Related Fraudulent Schemes - The FDIC is alerting financial institutions to the increasing prevalence of e-mail and Internet-related fraudulent schemes targeting financial institution customers. The attached guidance provides financial institutions with background information on these schemes and describes how institutions can assist in protecting their customers. www.fdic.gov/news/news/financial/2004/fil2704.html

March 12, 2004 - Remarks by Chairman Alan Greenspan Education At the Boston College Finance Conference 2004, Boston, Massachusetts March 12, 2004 www.federalreserve.gov/BoardDocs/Speeches/2004/20040312/default.htm

March 11, 2004 - Financial Holding Companies - Under the Bank Holding Company Act, bank holding companies may elect to be financial holding companies Following is a list of those companies whose elections to become or be treated as financial holding companies are effective. www.federalreserve.gov/GeneralInfo/FHC/default.htm

March 11, 2004 - Statistical Release - Structure and Share Data for U.S. Offices of Foreign Banks - This report shows the assets of each foreign bank office in the United States and is in three parts. Part 1 lists the offices by type, part 2 by country of the foreign bank "family" owning the office, and part 3 by Federal Reserve District and state. Each part shows the assets of each U.S. office. www.federalreserve.gov/Releases/Iba/default.htm

March 11, 2004 - Interagency Guidance Issued on Unfair or Deceptive Acts or Practices by State-Chartered Banks - The Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation today issued guidance outlining standards they will apply to determine when acts or practices by state-chartered banks are unfair or deceptive.
Press Release: www.federalreserve.gov/boarddocs/press/bcreg/2004/20040311/default.htm
Press Release: www.fdic.gov/news/news/press/2004/pr2004.html
Press Release: www.fdic.gov/news/news/financial/2004/fil2604.html

March 11, 2004 -Chairman Alan Greenspan - Education Before the Committee on Education and the Workforce, U.S. House of Representatives www.federalreserve.gov/boarddocs/testimony/2004/20040311/default.htm

March 10, 2004 - Marshall & Ilsley Corporation's Dennis J. Kuester Appointed to 2004 Federal Advisory Council - The board of directors of the Federal Reserve Bank of Chicago announced today that Dennis J. Kuester, president and chief executive officer of Milwaukee-based Marshall & Ilsley Corporation, has been appointed to the Federal Reserve System's Federal Advisory Council. www.chicagofed.org/news_and_conferences/news/2004_03_10_kuester_appointed_to_federal_advisory_council.cfm

March 10, 2004 - FDIC Makes Public January Enforcement Actions; No Administrative Hearings Scheduled - The Federal Deposit Insurance Corporation today released a list of orders of administrative enforcement actions taken against banks and individuals in January. No administrative hearings are scheduled for March. www.fdic.gov/news/news/press/2004/pr1904.html

March 10, 2004 - Statistical Release G.20 Finance Companies www.federalreserve.gov/Releases/G20/Current/default.htm

March 10, 2004 - NCUA - Federal Credit Unions Adopting Underserved Areas
Growing At Impressive Pace According To NCUA Data - NCUA Chairman Dennis Dollar announced that 2003 end-of-year agency data demonstrates that the 494 federal credit unions which adopted 1021 underserved areas into their fields of membership since the inception of NCUA’s Access Across America initiative four years ago have significantly higher growth rates in membership, savings and loans than the overall growth rates among federal credit unions as a whole. www.ncua.gov/news/press_releases/2004/NR04-0309.htm

March 10, 2004 - Money Services Businesses Registration List - The Department of the Treasury's Financial Crimes Enforcement Network has updated the list of entities that have registered as Money Services Businesses. www.fdic.gov/news/news/financial/2004/fil2504.html

March 10, 2004 - The Federal Reserve Board and New York State Banking Department today announced the issuance of a joint Order to Cease and Desist and Order of Assessment of a Civil Money Penalty and Monetary Payment against Credit Agricole, S.A., Paris, France, and its affiliates in Paris, Credit Agricole Indosuez and Credit Lyonnais, S.A., and its offices and affiliates in New York, the New York branches of Credit Agricole Indosuez and Credit Lyonnais, S.A. The Order assesses fines totaling $13 million.  www.federalreserve.gov/boarddocs/press/Enforcement/2004/20040310/default.htm

March 9, 2004 - NCUA - Financial Trends in Federally Insured Credit Unions, January 1 - December 31, 2003 - Along with the impressive savings and asset growth that we have seen over the past several years, the 2003 performance in lending, delinquency and overall net worth accumulation also provides a positive report. www.ncua.gov/ref/letters/2004/04-CU-02.pdf

March 9, 2004 - First Senior Deputy Comptroller Julie L. Williams Discusses Misunderstandings and Mischaracterizations of New OCC Rules - Julie L. Williams, Chief Counsel and First Senior Deputy Comptroller, today delivered the attached speech to a Government Affairs Conference held by America’s Community Bankers.
Press Release: www.occ.treas.gov/scripts/newsrelease.aspx?Doc=57D3RW7C.xml
Attachment: www.occ.treas.gov/ftp/release/2004-18a.pdf

March 8, 2004 - The Federal Reserve Board on Monday announced its approval of the applications filed pursuant to section 3 of the Bank Holding Company Act by Bank of America Corporation, Charlotte, North Carolina, to merge with FleetBoston Financial Corporation, Boston, Massachusetts, and thereby indirectly acquire Fleet National Bank, Providence, Rhode Island, and Fleet Maine, National Association, South Portland, Maine. www.federalreserve.gov/boarddocs/press/orders/2004/20040308/default.htm

March 8, 2004 - NCUA - Dollar Encourages Low-Income Credit Unions To Apply For $1 Million In "Tag" Grants - NCUA Chairman Says Congressional Appropriation Allocates $1 Million For Grants During FY 2004 Which Ends September 30, Providing "The Best Opportunity In Recent Years For Low-Income Credit Unions To Get Needed Technical Assistance" www.ncua.gov/news/press_releases/2004/NR04-0308-2.htm

March 8, 2004 - NCUA - Matz Encourages Regulators to Share Best Practices - National Credit Union Administration Board Member Debbie Matz encouraged state and federal credit union regulators to share best practices in regulations just as credit unions share best practices in member services. www.ncua.gov/news/press_releases/2004/NR04-0308.htm

March 8, 2004 - OTS Lists 66 CRA Exams Scheduled For Second Quarter 2004 - The Office of Thrift Supervision announced today that 66 savings associations are scheduled for Community Reinvestment Act examinations during the second quarter of 2004. www.ots.treas.gov/docs/77406.html

March 8, 2004 - The Office of the Comptroller of the Currency, on March 5, 2004, filed a notice of charges and a notice of assessment of civil money penalties against Grant Thornton LLP.
Notice of Charge:www.occ.treas.gov/foia/GTNoticeofChargesFinalwithproposed_CD.pdf
Notice of Assessment: http://www.occ.treas.gov/foia/GTNoticeofAssessmentofaCMP.pdf

March 8, 2004 - FDIC Issues March 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/pr1804.html

__________________

March 5, 2004 - Unauthorized Banking: Fictitious Internet Bank Intertrade Bank - This alert states that the OCC has received information that Intertrade Bank may be operating a banking business without authorization. Intertrade Banking has not been granted authority to operate a banking business in the United States by the OCC or the state of New York. www.occ.treas.gov/ftp/alert/2004-7.txt

March 5, 2004 - Unauthorized Banking: Fictitious Internet Bank - This alert states that the OCC has received information that Commerz Finanz Bank may be operating a banking business without authorization. www.occ.treas.gov/ftp/alert/2004-8.txt

March 5, 2004 - Statistical Release G.19 Commercial Credit - Consumer Credit Outstanding 1 Seasonally adjusted www.federalreserve.gov/releases/g19/current/default.htm

March 5, 2004 - The Federal Reserve Board announced Friday that the Consumer Advisory Council will hold its next meeting on Thursday, March 25. The meeting will take place in Dining Room E, Terrace level, in the Board's Martin Building. The session will begin at 9:00 a.m. EST and is open to the public. www.federalreserve.gov/boarddocs/press/other/2004/20040305/default.htm

March 5, 2004 - NCUA's Application for Review Submitted to the Federal Labor Relations Authority - NCUA is appealing the Regional Director's ruling that its District and Principal Examiners are not “management officials” as defined by law and, therefore, are not excluded from the collective bargaining unit of NCUA employees proposed by the National Treasury Employees Union . http://www.ncua.gov/ref/FLRA/Index.htm

March 5, 2004 - Statistical Release Large Commercial Banks - Insured U.S.-Chartered Commercial Banks That Have Consolidated Assets of $300 Million or More, Ranked by Consolidated Assets as December 31, 2003 www.federalreserve.gov/releases/lbr/current/default.htm

March 4, 2004 - NCUA - Community Development Financial Institutions - The U.S. Department of the Treasury's Community Development Financial Institutions Fund has approximately $45 million in financial and technical assistance available for financial institutions certified by CDFI. Currently, there are 115 credit unions certified as CDFIs. All credit unions can apply for a CDFI certification during the assistance application process. www.ncua.gov/org/orgchart/ocud/Newsletters/CDFI.pdf

March 4, 2004 - Statistical Release Z.1 Flow of Funds Accounts of the United States  www.federalreserve.gov/releases/z1/current/default.htm

March 4, 2004 - The Federal Reserve Board on Thursday announced the issuance of a Cease and Desist Order against Cowboy State Bancorp, Inc., Ranchester, Wyoming, a bank holding company, and its subsidiary bank, the Cowboy State Bank, Ranchester, Wyoming. www.federalreserve.gov/boarddocs/press/Enforcement/2004/20040304/default.htm

March 4, 2004 - NCUA - Matz Presents Ideas to Help Credit Unions Grow - Speaking to 150 officials in charge of developing more business for their credit unions, National Credit Union Administration Board Member Debbie Matz presented ideas to attract new members and foster growth. www.ncua.gov/news/press_releases/2004/NR04-0304.htm

March 4, 2004 - NCUA Officials Open Discussions with  Taiwan Credit Union Group - The National Credit Union Administration hosted 14 delegates from the Taiwan Cooperative Association here Tuesday, welcoming members of the Taiwanese credit union trade group to NCUA for the first time as part of the agency's International Visitors Program. www.ncua.gov/news/press_releases/2004/NR04-0303-2.htm

March 4, 2004 - NCUA - NCUA Announces Increase In Funding To Credit Union Student Internship Program - The National Credit Union Administration (NCUA) announced this week that beginning in April, the agency will accept grant applications from credit unions for the college student internship program. www.ncua.gov/news/press_releases/2004/NR04-0303.htm

March 3, 2004 - Foreign Assets Control Act - The Department of the Treasury's Office of Foreign Assets Control has issued a general license under the Libyan sanctions regulations and it has removed an address from the Specially Designated Nationals List. www.fdic.gov/news/news/financial/2004/fil2304.html

March 3, 2004 - Legal Interpretations - Response to inquiry regarding Regulations D and Q www.federalreserve.gov/boarddocs/legalint/federalreserveact/2004/20040126/default.htm

March 3, 2004 - Beige Book - Informal review by the Federal Reserve Banks of current economic conditions in their Districts - Economic activity continued to expand in January and February, according to information received by Federal Reserve District Banks. www.federalreserve.gov/fomc/beigebook/2004/20040303/default.htm

March 3, 2004 - The Federal Reserve Board on Wednesday announced that it is removing all fifty-one stocks from its current List of Foreign Margin Stocks because they have not been recertified as required under procedures approved by the Board in 1990. The list is one of two methods for foreign securities to qualify as margin securities under Regulation T. www.federalreserve.gov/boarddocs/press/bcreg/2004/20040303/default.htm

March 2, 2004 - Governor Ben S. Bernanke - Money, Gold, and the Great Depression
At the H. Parker Willis Lecture in Economic Policy, Washington and Lee University, Lexington, Virginia www.federalreserve.gov/boarddocs/speeches/2004/200403022/default.htm

March 2, 2004 - NCUA - Update On Accounting For Loan And Lease Losses - This guidance addresses recent developments in accounting for loan and lease losses and provides an update on the status of the proposed Statement of Position, “Accounting for Credit Losses”, issued by the Accounting Standards Executive Committee of the American Institute of Certified Public Accountants www.ncua.gov/ref/accounting_bulletins/CombinedALLLAdvisory.pdf

March 2, 2004 - NCUA - Board MemberMatz Builds PALS Workshop to Help Credit Unions Make More Mortgages - On June 2 in Boston, National Credit Union Administration Board Member Debbie Matz will host a free Partnering and Leadership Success workshop to help credit unions make more mortgages. www.ncua.gov/news/press_releases/2004/NR04-0302.htm

March 2, 2004 - FinCEN 314(a) Distribution List to be Compiled from Contact Information on the Call Report - Pursuant to section 314(a) of the USA PATRIOT Act, the Department of the Treasury's Financial Crimes Enforcement Network developed and implemented an electronic system for law enforcement to request information about suspected terrorists and money launderers from financial institutions.
Press Release: www.occ.treas.gov/ftp/alert/2004-6.txt
Attachment: www.ffiec.gov/ffiec_report_forms.htm

March 2, 2004 - The Federal Reserve Board on Tuesday announced amendments to Appendix A of Regulation CC, effective May 15, 2004, that reflect the restructuring of the Federal Reserve's check processing operations in the Eleventh District. www.federalreserve.gov/boarddocs/press/bcreg/2004/20040302/default.htm

March 2, 2004 - Chairman Alan Greenspan Current account Before the Economic Club of New York, New York www.federalreserve.gov/boarddocs/speeches/2004/20040302/default.htm

March 2, 2004 - FDIC Study: Implications of Housing Market Boom - In a report issued by the Federal Deposit Insurance Corporation today, analysts conclude that the recent boom in U.S. home prices and housing market activity does not necessarily imply that prices are poised to systematically decline. www.fdic.gov/news/news/press/2004/pr1704.html

March 2, 2004 - Basel II Capital Accord - White Papers and Other Background Documents www.federalreserve.gov/generalinfo/basel2/whitepapers.htm

March 1, 2004 - Recent Editions of Chicago Fed Letter Examine Various Topics www.chicagofed.org/news_and_conferences/news/2004_03_01_recent_chicago_fed_letters_examine_topics.cfm

March 1, 2004 - The OCC has received information that people using the business name of Cherokee Heritage National Bank are soliciting banking business in the United States without authorization. http://www.occ.treas.gov/ftp/alert/2004-5.txt

March 1, 2004 - Consumer Complaints Referred to National Banks From State Officials - This advisory letter supplements OCC Advisory Letter 2002-9 by providing general guidance for national banks and their operating subsidiaries [This guidance applies equally to national banks and to their operating subsidiaries.  References in this guidance to national banks include their operating subsidiaries.  See 12 CFR 5.34(e)(3) and 12 CFR 7.4006.] on handling consumer complaints referred or sent to the national bank bystate officials. www.occ.treas.gov/ftp/advisory/2004-2.txt

March 1, 2004 - OCC Issues Second Quarter 2004 CRA Examination Schedule - The Office of the Comptroller of the Currency today released its schedule of Community Reinvestment Act examinations to be conducted in the second quarter of 2004.
Press Release:www.occ.treas.gov/scripts/newsrelease.aspx?Doc=XIG8LIS3.xml
Attachment: www.occ.treas.gov/ftp/release/2004-17a.pdf

March 1, 2004 - OCC Guidance Clarifies that National Banks Should Act Promptly To Resolve Consumer Complaints Forwarded by State Agencies - The Office of the Comptroller of the Currency issued supplemental guidance today concerning how national banks and their operating subsidiaries should handle complaints forwarded by state authorities. www.occ.treas.gov/scripts/newsrelease.aspx?Doc=4Z6RLR6A.xml

March 1, 2004 - The December 31, 2003 Uniform Bank Performance Report is now available on line at WWW.FFIEC.GOV. The online version of the UBPR includes 5 years of continuous financial history that is restated quarterly to reflect call report amendments and new analytical tools. Please visit the UBPR section of the website for further information including suggestions for using the website and a schedule of planned updates and enhancements. www.ffiec.gov/press/pr030104.htm

March 1, 2004 - Chairman Donald E. Powell Federal Deposit Insurance Corporation Remarks Before the Institute of International Bankers Washington, D.C. www.fdic.gov/news/news/press/2004/pr1604.html

March 1, 2004 - Interagency Update on Accounting for Loan and Lease Losses - The Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, Office of Thrift Supervision, and National Credit Union Administration have issued the attached interagency Update on Accounting for Loan and Lease Losses statement.
Press Release: www.federalreserve.gov/boarddocs/srletters/2004/sr0405.htm
Press Release: www.fdic.gov/news/news/financial/2004/fil2204.html
Press Release: www.occ.treas.gov/ftp/bulletin/2004-13.txt
Attachment: www.occ.treas.gov/ftp/bulletin/2004-13a.pdf

March 1, 2004 - NCUA - Legal Opinion -04-0223 - Charitable Contributions to Credit Unions www.ncua.gov/ref/opinion_letters/2004/04-0223.htm

March 1, 2004 - Governor Mark W. Olson - U.S. Banking Industry Performance Highlights -- 2003 At the Annual Conference of the Institute of International Bankers, Washington, D.C. http://www.federalreserve.gov/boarddocs/speeches/2004/20040301/default.htm