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

The Community Banker
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Bank Regulatory News
May
1998

May 27, 1998 - SALES OF NONDEPOSIT INVESTMENTS - FDIC's Brochure Insured or Not Insured-A Guide to What Is and Is Not Protected by FDIC Insurance
The Federal Deposit Insurance Corporation (FDIC) would like to remind financial institutions of
the availability of its brochure Insured or Not Insured-A Guide to What Is and Is Not
Protected by FDIC Insurance. The brochure clearly describes which bank and thrift products
are-and are NOT-insured. A sample copy is attached.

May 27, 1998 - DEPOSIT INSURANCE BOOKLETS - FDIC's Your Insured Deposit Booklet Available in Spanish
The Federal Deposit Insurance Corporation (FDIC) would like to remind financial institutions
that its booklet on deposit insurance rules, Your Insured Deposit, is available in Spanish.
Institutions that wish to order the booklet in Spanish may write to:

FDIC
Warehouse and Distribution Center
3501 N. Fairfax Drive
Arlington, VA 22226

May 26, 1998 - DONNA A. TANOUE SWORN IN AS 17TH FDIC CHAIRMAN
Donna A. Tanoue was sworn in today as the 17th Chairman of the Federal Deposit Insurance
Corporation (FDIC).

May 21, 1998 - APRIL SURVEY SHOWS REAL ESTATE MARKETS CONTINUE TO RISE STEADILY
The latest results from the FDIC's quarterly Survey of Real Estate Trends showed a large
increase in positive opinions of local residential markets in recent months. Sixty-three percent of
the government experts polled in late April said local housing markets were better than three
months earlier, up from 49 percent in the previous quarterly survey. The 63 percent is among the
most favorable responses since the FDIC survey began in April of 1991. Reports of improvements
in commercial markets during the quarter also increased, with more respondents noting better
conditions than in any prior survey.

May 15, 1998 - HOME MORTGAGE DISCLOSURE ACT - 1998 Edition of A Guide to HMDA Reporting - Getting it Right!
The Federal Financial Institutions Examination Council (FFIEC) has issued the 1998 edition of A
Guide to HMDA Reporting - Getting it Right!. The Guide is a valuable resource for Home
Mortgage Disclosure Act (HMDA)-reporting institutions.

May 13, 1998 - FDIC RELEASES GENERAL COUNSEL OPINION ON INTEREST CHARGES BY BRANCHES OF INTERSTATE STATE BANKS
The FDIC General Counsel has issued an opinion that addresses the state law that should be
applied to interest charges on customer loans when a state bank operates through interstate
branches (known as an "interstate state bank").

May 13, 1998 - YEAR 2000 CUSTOMER AWARENESS GUIDANCE - Interagency Guidance on Year 2000 Customer Awareness Programs
The Federal Financial Institutions Examination Council (FFIEC) has issued the attached statement
with industry guidance on developing a customer awareness program to respond to inquiries and
communicate with customers on Year 2000 issues. The statement supplements the FFIEC's
statement "Safety and Soundness Guidelines Concerning the Year 2000 Business Risk," issued
December 17, 1997.

May 13, 1998 - Texas Banking Commissioner Catherine A. Ghiglieri announced today that her office will accept filings for applications for interstate merger and branching transactions for all state-chartered institutions. Last week the United States District Court for the Northern District of Texas sided with the Comptroller of the Currency (OCC) in a merger application filed by NationsBank of North Carolina and NationsBank of Texas. NationsBank Texas is now a branch of NationsBank North Carolina and no longer pays franchise taxes and avoids other Texas laws.

May 13, 1998 - YEAR 2000 CONTINGENCY PLANNING GUIDANCE - Interagency Guidance on Contingency Planning for Year 2000 Readiness
The Federal Financial Institutions Examination Council (FFIEC) has issued the attached statement
with industry guidance on contingency planning in connection with Year 2000 readiness. The
statement supplements the FFIEC's statements "Year 2000 Project Management Awareness,"
issued May 5, 1997, and "Guidance Concerning Institution Due Diligence in Connection with
Service Provider and Software Vendor Year 2000 Readiness," issued March 17, 1998.

May 13, 1998 - FDIC - Summary of Deposits Survey for June 30, 1998
The annual Summary of Deposits (SOD) survey form and instructions for the period ending June
30, 1998, will be mailed on July 7 to institutions with more than a main office facility. No changes
have been made to the survey; however, minor changes have been made to the instructions and
definitions for clarification purposes.

May 11, 1998 - FDIC REPORT NOTES WEAKENING IN UNDERWRITING PRACTICES IN MAJOR LOAN CATEGORIES
Banks' underwriting practices have weakened across the board during the last year, according to
FDIC examiners.

May 8, 1998 - Acting Comptroller Julie L. Williams Urges Industry Leadership on Consumer Privacy
WASHINGTON, D.C. -- Acting Comptroller of the Currency Julie L. Williams urged the banking industry to demonstrate leadership in the treatment of confidential customer information and sensitivity to personal privacy issues. Otherwise, she said, "the industry risks a customer backlash that could fuel reactions at the federal and state levels that lead to restrictions on your ability to use precious information resources."

May 8, 1998 - Texas Banking Commissioner Catherine A. Ghiglieri announced the issuance of the Certificate of Authority authorizing J. P. MORGAN TEXAS, Dallas, Texas to commence business as a Texas state-chartered trust company, effective May 1, 1998.

May 8, 1998 - ST. LOUIS - Just like private enterprise, the Federal Reserve in recent years has restructured and reengineered its operations to stay ahead of an evolving marketplace. While it will continue to adapt and innovate, the Fed will not seek efficiency at the expense of damaging public confidence in its ability to conduct monetary policy, protect the payments system or regulate banking organizations.

May 6, 1998 - ST. LOUIS - Increases in credit card debt between 1992 and 1995 are largely attributable to higher average credit card debt per household, not from more households with access to credit cards, said an economist with the Federal Reserve Bank of St. Louis.

May 4, 1998  - OCC Assesses Penalty Against NationsBank, Praises Inter-Agency Cooperation
WASHINGTON, D.C. -- The Office of the Comptroller of the Currency (OCC), the Securities and Exchange Commission (SEC) and the National Association of Securities Dealers Regulation, Inc. (NASD-R), today announced the institution and simultaneous settlement of enforcement actions against NationsBank, N.A., Charlotte, N. C.; NationsSecurities, Inc., a registered broker-dealer and subsidiary of the bank; and three individuals associated with the bank and the securities unit.

May 1, 1998 - TO PROTECT BANK CUSTOMERS, FEDERAL BANKING AGENCIES ISSUE GUIDANCE ON THE USE OF TRADE NAMES GUIDANCE ON THE USE OF TRADE NAMES
Federal banking agencies today advised the institutions they regulate to adopt procedures aimed at
helping customers recognize that different facilities of a bank or thrift--including Internet sites--are
not separately insured just because they operate under different names. In recent years, several
banks have used names that differ from the bank's corporate name for branches or the delivery of
services over the Internet.

May 1, 1998 - OCC Economics Unit Will Focus on Fair Lending Exams
WASHINGTON, DC -- Acting Comptroller of the Currency Julie L. Williams announced the formation of a new unit in the OCC's Economics Department that will assist in examining banks for
compliance with fair lending rules. In addition to assigning economists to examination teams, the unit will undertake research on other compliance issues and on access to financial services.

FRB Dallas Listing of Bank and Bank Holding Company Application Bulletins

Federal Reserve Board Public Information Actions, Orders, and Other Documents, all FRB districts

FRB Operating Circulars, maintained by the FRB of Chicago

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Yennik, Inc.

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Lubbock, Texas 79424
Office 806-798-7119
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