Bank Regulatory News

May 2004

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May 28, 2004 - Fraudulent Regulatory Agency Issuances - This alert states that the OCC has become aware that fictitious e-mails claiming to be issued by the OCC are circulating on the Internet. The e-mails falsely state that international payments are being held by the OCC. They purport to offer a mechanism for obtaining the release of certain non-existent restricted funds. The OCC does not participate in the transfer of funds for, or on behalf of, private enterprises or governmental entities, domestic or international. www.occ.treas.gov/ftp/alert/2004-11.txt 

May 28, 2004 - NCUA - Regulatory Alert RA-08-04 - The Federal Trade Commission and Federal Communication Commission's "Do Not Call" Rules www.ncua.gov/reg_alerts/2004/04-RA-08.pdf 

May 28, 2004 - Agencies Issue Proposed Guidance on Overdraft Protection Programs - The federal financial institutions supervisory agencies today issued proposed guidance to assist insured depository institutions in the responsible disclosure and administration of overdraft protection services
Press Release: www.federalreserve.gov/boarddocs/press/bcreg/2004/20040528/default.htm 
Press Release: www.occ.treas.gov/scripts/newsrelease.aspx?JNR=1&Doc=IENBW35E.xml 
Attachment: www.occ.treas.gov/ftp/release/2004-40a.pdf 
Press Release: www.fdic.gov/news/news/press/2004/pr6004.html 
Press Release: www.ots.treas.gov/docs/77417.html 
Press Release: www.ncua.gov/news/press_releases/2004/JR04-0528.pdf 

May 28, 2004 - The Federal Reserve Board on Friday published proposed amendments to Regulation DD, which implements the Truth in Savings Act, and the regulation's official staff commentary to address concerns about the uniformity and adequacy of information provided to consumers when they overdraw their accounts. www.federalreserve.gov/boarddocs/press/bcreg/2004/200405282/default.htm

May 27, 2004 - OCC Announces New Electronic Interpretations and Actions -May 2004 www.occ.treas.gov/interp/may04/intmay04.htm 

May 27, 2004 - Guidance On Development And Acquisition Of Information Systems 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 development, acquisition, and maintenance of information systems.
Press Release: www.ffiec.gov/press/pr052704.htm 
Press Release: www.ots.treas.gov/docs/77416.html 
Press Release: www.ncua.gov/news/press_releases/2004/JR04-0527.pdf 

May 27, 2004 - Commercial Bank of Syria - "Primary Money Laundering Concern" - The Department of the Treasury has designated Commercial Bank of Syria, including its subsidiary, Syrian Lebanese Commercial Bank, to be a financial institution of primary money laundering concern and has issued a proposed special measure. www.fdic.gov/news/news/financial/2004/fil6004.html 

May 27, 2004 - FDIC Issues Examiner Guidance on Agency-Issued Step-Up Bonds and Other Structured Note Holdings - The FDIC has issued guidance to examiners on the review of structured note holdings at FDIC-supervised institutions. The guidance advises examiners that agency-issued step-up bonds, when managed and controlled in compliance with supervisory policy, present risks similar to callable bonds and that aggregate levels of structured notes should not, in and of themselves, raise supervisory concern. www.fdic.gov/news/news/financial/2004/fil5904.html 

May 27, 2004 - FDIC-Insured Institutions Report Record Earnings in the First Quarter of 2004 - The 9,116 commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation earned a record $31.9 billion in the first quarter of 2004, marking the fifth consecutive quarter that industry profits set a new high. www.fdic.gov/news/news/press/2004/pr5904.html 

May 27, 2004 - The Federal Reserve Board on Thursday announced the issuance of a consent Order to Cease and Desist and Order of Assessment of Civil Money Penalty against Citigroup Inc., New York, New York, a bank holding company, and CitiFinancial Credit Company, Baltimore, Maryland, a non-bank subsidiary of Citigroup www.federalreserve.gov/boarddocs/press/Enforcement/2004/20040527/default.htm 

May 26, 2004 - Suspicious Activity Reporting - Federal Court Reaffirms Protections for Financial Institutions Filing Suspicious Activity Reports.
Press Release: www.occ.treas.gov/ftp/bulletin/2004-24.txt 
Attachment: www.occ.treas.gov/ftp/bulletin/2004-24a.pdf 

May 26, 2004 - FDIC Outlook Assesses Factors Behind Banking Industry Earnings Performance - The FDIC today released the Summer 2004 FDIC Outlook, which examines the earnings performance of FDIC-insured depository institutions in three different reports: addressing the role of net interest margin in industry earnings, the effect of higher interest rates on securities gains, and how demographic trends are affecting banks in rural areas. www.fdic.gov/news/news/press/2004/pr5804.html 

May 26, 2004 - NCUA Launches Express Communication Service - The National Credit Union Administration announced that its Express e-mail subscription service was activated today. www.ncua.gov/news/press_releases/2004/NR04-0526.htm 

May 26, 2004 - FDIC Launches New, More User-Friendly Electronic Subscription Service - The Federal Deposit Insurance Corporation today unveiled a new electronic subscription service allowing users to better and more easily target FDIC periodicals and products they wish to receive electronically. www.fdic.gov/news/news/press/2004/pr5704.html 

May 25, 2004 - Interagency Advisory - Federal Court Reaffirms Protections for Financial Institutions Filing Suspicious Activity Reports - This is an interagency advisory that discusses an important ruling about the confidentiality of Suspicious Activity Reports www.ncua.gov/GuidesManuals/sar/InteragencyAdvisory05-25-04.pdf 

May 25, 2004 - Thrift profitability remains strong in first quarter - The Office of Thrift Supervision announced today that the nation's thrift industry reported another quarter of sound financial results. The industry's continued healthy performance was highlighted by strong earnings, record equity capital and solid asset growth. www.ots.treas.gov/docs/77414.html 

May 25, 2004 - OCC Announces 12 Enforcement Actions and Three Terminations - The Office of the Comptroller of the Currency today announced 12 new enforcement actions taken against national banks and individuals currently and formerly affiliated with national banks and three terminations of existing enforcement actions. www.occ.treas.gov/ftp/release/2004-39.htm 

May 25, 2004 - FDIC Makes Public April 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 April. No administrative hearings are scheduled for June. www.fdic.gov/news/news/press/2004/pr5604.html 

May 25, 2004 - The Federal Reserve Board in June will begin a statistical study of household finances, the Survey of Consumer Finances, that will provide policymakers with important insight into the economic condition of all types of American families. www.federalreserve.gov/boarddocs/press/other/2004/20040525/default.htm 

May 25, 2004 - Interagency Advisory Concerning the Legal Protections Associated with the Filing of Suspicious Activity Reports - Federal law provides protection from civil liability to financial institutions and their employees who report suspicious or potentially criminal activity to the appropriate law enforcement and bank supervisory authorities in Suspicious Activity Reports. www.federalreserve.gov/boarddocs/srletters/2004/sr0408.htm 

May 24, 2004 - OCC Issues Order Against First National Bank of Marin - The Office of the Comptroller of the Currency announced today that it has issued an Order against the First National Bank of Marin requiring the Las Vegas-based bank to pay restitution to credit card customers harmed by unfair practices.
Press Release: www.occ.treas.gov/scripts/newsrelease.aspx?Doc=NIXU5YSI.xml 
Attachment: www.occ.treas.gov/ftp/eas/ea2004-45.pdf 

May 24, 2004 - OCC Releases CRA Evaluations For 62 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 April 15, 2004 through May 14, 2004.
www.occ.treas.gov/scripts/newsrelease.aspx?Doc=Z4WCY2WE.xml 

May 24, 2004 - Is Inflation Targeting Best-Practice Monetary Policy? - Working Papers - International Finance Discussion Papers 2004-807 www.federalreserve.gov/pubs/ifdp/2004/807/default.htm 

May 24, 2004 - The Federal Reserve Board on Monday announced its approval of the applications under section 3 of the Bank Holding Company Act, the Bank Merger Act, and section 9 of the Federal Reserve Act for Sky Financial Group, Inc., Bowling Green, Ohio, to acquire Second Bancorp, Incorporated and its subsidiary bank, The Second National Bank of Warren, both in Warren, Ohio. www.federalreserve.gov/boarddocs/press/orders/2004/20040524/default.htm 

May 22, 2004 - Vice Chairman Roger W. Ferguson, Jr. Economics and Ethical Behaviors 2004 Distinguished Alumni Award, Sidwell Friends School, Washington, D.C. www.federalreserve.gov/boarddocs/speeches/2004/20040522/default.htm 
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May 21, 2004 - Legal Interpretation - Letter to Citigroup, Inc., granting exemption from section 23A of the Federal Reserve Act.  www.federalreserve.gov/boarddocs/legalint/FederalReserveAct/2004/20040514/default.htm 

May 21, 2004 - FFIEC 2005 Examiner Education Course Catalogue.  www.ffiec.gov/exam/ffiec2005.pdf 

May 21, 2004 - Check Clearing For The 21st Century Act - The FDIC is notifying FDIC-supervised institutions that they should begin planning for operational changes needed to implement the Check Clearing for the 21st Century Act. The Act facilitates check truncation and electronic check exchange by authorizing a new negotiable instrument called a "substitute check."  www.fdic.gov/news/news/financial/2004/fil5404.html 

May 21, 2004 - FDIC Encourages Institutions to Register for FDICconnect - FDIC-insured institutions are encouraged to register for FDICconnect beginning immediately. FDICconnect is a secure Web site developed to facilitate electronic communication with FDIC-insured depository institutions, and offers a variety of electronic business transactions for institutions that will significantly improve operating efficiencies.  www.fdic.gov/news/news/financial/2004/fil5304.html 

May 21, 2004 - FDIC Reports First Quarter 2004 Financial Results for Bank and Thrift Insurance Funds - The Federal Deposit Insurance Corporation today announced that the Bank Insurance Fund reported comprehensive income of $382 million for the three months ending March 31, 2004, compared to $332 million for the same period last year.   www.fdic.gov/news/news/press/2004/pr5504.html 

May 21, 2004 - Governor Edward M. Gramlich Subprime Mortgage Lending: Benefits, Costs, and Challenges At the Financial Services Roundtable Annual Housing Policy Meeting, Chicago, Illinois. www.federalreserve.gov/boarddocs/speeches/2004/20040521/default.htm 

May 20, 2004 - Chairman Alan Greenspan Acceptance of the Eisenhower Medal for Leadership and Service Eisenhower Fellowship, Philadelphia, Pennsylvania.  www.federalreserve.gov/boarddocs/speeches/2004/200405203/default.htm 

May 20, 2004 - Research Examines Michigan School Finance Reform - Linking school finance to school performance outcomes is here to stay, according to research by Chicago Fed Senior Economist Richard Mattoon in the June issue of the Chicago Fed Letter. www.chicagofed.org/news_and_conferences/news/2004_05_20_research_examines_michigan_school_finance_reform.cfm

May 20, 2004 - NCUA - General Counsel Opinion Clarifies Rules For Member Business Lending With The SBA.  www.ncua.gov/news/press_releases/2004/NR04-0520.htm 

May 20, 2004 - NCUA - Opinion Letter 03-0911 - Small Business Administration Loans Originated by Federal Credit Union.   www.ncua.gov/RegulationsOpinionsLaws/opinion_letters/2004/03-0911withEnclosures.pdf 

May 20, 2004 - NCUA - Proposed Rule - Health Savings Accounts.  www.ncua.gov/RegulationsOpinionsLaws/proposed_regs/Proposed724721.pdf 

May 20, 2004 - NCUA - Proposed Rule - Disposal of Consumer Information.  www.ncua.gov/RegulationsOpinionsLaws/proposed_regs/Proposed-717-83.pdf 

May 20, 2004 - NCUA - A Summary of Actions Taken at NCUA Board Meetings.   www.ncua.gov/NCUABoard/board_reports/board_reports.html 

May 20, 2004 - Fair Credit Reporting Medical Information Regulations - This bulletin announces that on April 28, the OCC, Federal Reserve Board, FDIC, OTS, and NCUA published in the Federal Register a joint notice of proposed rulemaking concerning Fair Credit regulations.
Press Release: www.occ.treas.gov/ftp/bulletin/2004-23.txt 
Attachment: www.occ.treas.gov/fr/fedregister/69fr23380.pdf 

May 20, 2004 - Governor Ben S. Bernanke Gradualism At an economics luncheon co-sponsored by the Federal Reserve Bank of San Francisco and the University of Washington, Seattle, Washington. www.federalreserve.gov/boarddocs/speeches/2004/200405202/default.htm 

May 20, 2004 - Regulatory Agencies Seek Comment on Interagency Statement on Sound Practices Concerning Complex Structured Finance Activities - The financial regulatory agencies and the Securities and Exchange Commission are seeking comment over a 30-day period on an interagency statement governing complex structured finance activities arranged by banking organizations for their customers and/or for their own purposes. Comments are due by June 18, 2004. www.fdic.gov/news/news/financial/2004/fil5204.html 

May 20, 2004 - Governor Edward M. Gramlich Workplace Financial Education At the second meeting of the Financial Literacy and Education Commission, Washington, D.C. www.federalreserve.gov/boarddocs/speeches/2004/20040520/default.htm 

May 20, 2004 - Thomas C. Baxter, Jr. Executive Vice President and General Counsel Federal Reserve Bank of New York Oversight of the Extended Custodial Inventory program Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate.  www.newyorkfed.org/newsevents/speeches/2004/bax040520.html 

May 19, 2004 - NCUA Launches Mentoring Initiative - The National Credit Union Administration announced today it has earmarked $50,000 for the new Mentoring Initiative technical assistance grants. www.ncua.gov/news/press_releases/2004/MA04-0519.htm

May 19, 2004 - Complex Structured Finance Transaction - This bulletin transmits an interagency statement by the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of Thrift Supervision, and the Securities and Exchange Commission concerning the complex structured finance activities of financial institutions.
Press Release: www.occ.treas.gov/ftp/bulletin/2004-22.txt 
Attachment: www.occ.treas.gov/fr/fedregister/69fr28980.pdf 

May 19, 2004 - Remarks by Donald Powell Chairman Federal Deposit Insurance Corporation Before the Exchequer Club Washington, D.C. May 19, 2004.  www.fdic.gov/news/news/press/2004/pr5404.html 

May 19, 2004 - Governor Susan Schmidt Bies Corporate Governance: Where Do We Go From Here? At the Institute of Internal Auditors Financial Services Conference, Arlington, Virginia.   www.federalreserve.gov/boarddocs/speeches/2004/20040519/default.htm 

May 18, 2004 - The Federal Reserve Board on Tuesday requested public comment on a Board study and a report to Congress on prescreened solicitations for credit or insurance. www.federalreserve.gov/boarddocs/press/bcreg/2004/200405182/default.htm 

May 18, 2004 - The Federal Reserve Board on Tuesday announced that it will conduct a study on debit card fees and requested public comment on the adequacy of existing disclosures of such fees to consumers. www.federalreserve.gov/boarddocs/press/bcreg/2004/20040518/default.htm 

May 17, 2004 - Comptroller of the Currency John D. Hawke, Jr. spoke today at a conference on Credit Rating and Scoring Models that is being sponsored by the Office of the Comptroller of the Currency.
Press Release:  www.occ.treas.gov/scripts/newsrelease.aspx?Doc=552CS4D7.xml  
Attachment: www.occ.treas.gov/ftp/release/2004-36a.pdf 

May 17, 2004 - The Federal Reserve Board has announced that reflect the restructuring of the Federal Reserve's check processing operations in the Seventh and Eighth Districts. www.federalreserve.gov/boarddocs/press/bcreg/2004/20040517/default.htm 

May 17, 2004 - Governor Susan Schmidt Bies Corporate Governance and Community Banks Before the Annual Convention of the Arkansas Bankers Association, Hot Springs, Arkansas.  www.federalreserve.gov/boarddocs/speeches/2004/200405172/default.htm 

May 17, 2004 - Vice Chairman Roger W. Ferguson, Jr. The Role of Central Banks in Fostering Efficiency and Stability in the Global Financial System At the National Bank of Belgium Conference on Efficiency and Stability in an Evolving Financial System, Brussels, Belgium.  www.federalreserve.gov/boarddocs/speeches/2004/20040517/default.htm 
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May 14, 2004 - Payroll Card Systems - This advisory is in response to inquiries that the OCC has received from bankers and examiners regarding supervisory expectations for payroll card systems. Increasing numbers of national banks are offering payroll cards and other pre-paid payment services. www.occ.treas.gov/ftp/advisory/2004-6.txt 

May 14, 2004 - Governor Edward M. Gramlich Budget and Trade Deficits: Linked, Both Worrisome in the Long Run, but not Twins At the Isenberg School of Management Seminar Series, Amherst, Massachusetts Governor Edward M. Gramlich presented identical remarks at the Los Angeles Chapter of the National Association for Business Economics Luncheon, Los Angeles, California, on March 31, 2004 Governor Edward M. Gramlich presented identical remarks at the Euromoney Bond Investors Congress, London, England, on February 25, 2004. http://www.federalreserve.gov/boarddocs/speeches/2004/20040225/default.htm 

May 14, 2004 - The Federal Reserve Board on Friday announced the execution of a Written Agreement by and among Putnam-Greene Financial Corporation, Eatonton, Georgia; The Citizens Bank of Cochran, Cochran, Georgia; the Banking Commissioner of the State of Georgia, Atlanta, Georgia; and the Federal Reserve Bank of Atlanta. www.federalreserve.gov/boarddocs/press/Enforcement/2004/200405142/default.htm 

May 14, 2004 - FFIEC 031 Initial Federal Register Notice - Proposed Agency Information Collection Activities; Comment Request www.ffiec.gov/PDF/FFIEC_forms/FFIEC031_FFIEC041_20040429_ifr.pdf 

May 14, 2004 - Industrial Production And Capacity Utilization - Industrial production moved up 0.8 percent in April after having ticked down 0.1 percent in March. At 115.4 percent of its 1997 average, output in April was 4.8 percent higher than its level in April 2003. www.federalreserve.gov/releases/G17/Current/default.htm 

 May 14, 2004 - Agencies Request Comment on Statement Concerning Complex Structured Finance Activities - Five federal agencies today requested public comment on a proposed statement describing internal controls and risk management procedures that the agencies believe will assist financial institutions that engage in complex structured finance activities to identify and address the risks associated with such transactions.
Press Release: www.federalreserve.gov/boarddocs/press/bcreg/2004/20040514/default.htm 
Press Release: www.federalreserve.gov/boarddocs/srletters/2004/sr0407.htm 
Press Release: www.occ.treas.gov/ftp/advisory/2004-5.txt 
Attachment: www.occ.treas.gov/ftp/advisory/2004-5a.pdf 
Press Release: www.fdic.gov/news/news/press/2004/pr5304.html 
Press Release:  www.occ.treas.gov/scripts/newsrelease.aspx?JNR=1&Doc=H2SD957W.xml
Attachment: www.occ.treas.gov/ftp/release/2004-35a.pdf 
Press Release: www.ots.treas.gov/docs/77413.html 

May 14, 2004 - The Federal Reserve Board on Friday announced the issuance of a consent Order to Cease and Desist against Riggs National Corporation, Washington, D.C., a bank holding company, and Riggs International Banking Corporation, Miami, Florida, an Edge corporation. www.federalreserve.gov/boarddocs/press/Enforcement/2004/20040514/default.htm 

May 13, 2004 - NCUA - National Credit Union Administration Issues Prohibition Orders  - The National Credit Union Administration has issued Orders of Prohibition against the following individuals: www.ncua.gov/news/press_releases/2004/NR04-0513-2.htm 

May 13, 2004 - NCUA - Matz Invites Idaho Credit Unions to Hunt for "Hidden Treasures" in their Communities - NCUA Board Member Keynotes Idaho League Annual Meeting www.ncua.gov/news/press_releases/2004/NR04-0513.htm 

May 13, 2004 - OCC Assesses $25 Million Penalty Against Riggs Bank N.A. - The Office of the Comptroller of the Currency announced today that it has assessed a $25 million civil money penalty against Riggs Bank N.A. for numerous violations of the Bank Secrecy Act.
Press Release: www.occ.treas.gov/scripts/newsrelease.aspx?Doc=5AOFP8K.xml 
Attachment: www.occ.treas.gov/ftp/eas/2004-34CivilMoneyPenalty.pdf 

May 13, 2004 - FDIC Board Votes to Maintain Premium Rates for Banks and Thrifts - The Board of Directors of the Federal Deposit Insurance Corporation (FDIC) today voted to keep the assessment rates charged to insured banks and savings associations unchanged for the second half of 2004. www.fdic.gov/news/news/press/2004/pr5204.html 

May 13, 2004 - The Federal Reserve Board on Thursday released the minutes of its discount rate meetings from February 9 through March 15, 2004. www.federalreserve.gov/boarddocs/press/monetary/2004/20040513/default.htm 

May 13, 2004 - Chairman Alan Greenspan Financial literacy At the Federal Reserve Bank of Chicago's Money Smart Conference, Chicago, Illinois www.federalreserve.gov/boarddocs/speeches/2004/20040513/default.htm 

May 13, 2004 - Financial Holding Companies As of May 7, 2004 - 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 

May 13, 2004 - Governor Susan Schmidt Bies - U.S. - EU regulatory dialogue
Before the Committee on Financial Services, U.S. House of Representatives www.federalreserve.gov/boarddocs/testimony/2004/20040513/default.htm 

May 12, 2004 - Compliance Software - The Office of the Comptroller of the Currency (OCC) has updated its APRWIN and APY software programs. They are now available for download, at no cost, on the OCC Web site. www.occ.treas.gov/ftp/bulletin/2004-21.txt 

May 12, 2004 - FDIC Vice Chairman Warns That Growing Regulatory Burden Could Threaten Community-Based Banks - A growing tide of regulatory burden could threaten the future of smaller community banks, Federal Deposit Insurance Corporation Vice Chairman John M. Reich said in testimony before the House Subcommittee on Financial Institutions and Consumer Credit. "The volume and complexity of existing banking regulations, coupled with new laws and regulations, may ultimately threaten the survival of our community banks," Reich said. www.fdic.gov/news/news/press/2004/pr5104.html 

May 11, 2004 - Risk Management Process - This guidance reminds national banks of the process they should follow to prudently manage the risks associated with new, expanded, or modified bank products and services.  Specifically, it outlines the expectations of the Office of the Comptroller of the Currency's expectations for banks' management and boards to implement an effective risk management process. www.occ.treas.gov/ftp/bulletin/2004-20.txt 

May 10, 2004 - The Federal Reserve Board on Monday announced the issuance of a Cease and Desist Order against CAB Holding, LLC, Wilmington, Delaware, and Paul Shi H. Huang, the sole shareholder of CAB Holding, LLC. www.federalreserve.gov/boarddocs/press/Enforcement/2004/20040510/default.htm 

May 10, 2004 - The Federal Reserve Board on Monday announced the issuance of an Order of Assessment of a Civil Money Penalty in the amount of $100 million against UBS, AG, Zurich, Switzerland, a foreign bank. www.federalreserve.gov/boarddocs/press/Enforcement/2004/200405102/default.htm 
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May 7, 2004 - Truth in Lending (Regulation Z) - The Federal Reserve Board (Board) published on March 31, 2004, a final rule to revise Regulation Z and its official staff commentary.  The rule became effective April 1, 2004, with mandatory compliance beginning October 1, 2004.
Press Release: www.occ.treas.gov/ftp/bulletin/2004-19.txt
Attachment: www.occ.treas.gov/fr/fedregister/69fr16769.pdf

May 7, 2004 - Statistical Release Household Debt-Service Burden - The household debt service ratio is an estimate of the ratio of debt payments to disposable personal income.  Debt payments consist of the estimated required payments on outstanding mortgage and consumer debt. www.federalreserve.gov/Releases/housedebt/default.htm

May 7, 2004 - Statistical Release G.19 Consumer Credit - Consumer credit increased at an annual rate of 4-3/4 percent in the first quarter of 2004. www.federalreserve.gov/Releases/G19/Current/default.htm

May 7, 2004 - Senior Loan Officer Opinion Survey on Bank Lending Practices - The April 2004 Senior Loan Officer Opinion Survey on Bank Lending Practices addressed changes in the supply of, and demand for, bank loans to businesses and households over the past three months. www.federalreserve.gov/boarddocs/snloansurvey/200405/default.htm

May 7, 2004 - NCUA - Member Savings Insured as Dallas Educators Federal Credit Union Closed - The National Credit Union Administration (NCUA) announced today that the agency placed Dallas Educators Federal Credit Union of Selma, Ala. into liquidation on May 5. NCUA, which has been operating the credit union since April 19 under a conservatorship, liquidated the credit union when it was determined the institution's health could not be restored. NCUA insures member accounts at the credit union and will issue checks to members as account balances are verified. www.ncua.gov/news/press_releases/2004/NR04-0507.htm

May 6, 2004 - Minutes of the Federal Open Market Committee March 16, 2004 www.federalreserve.gov/FOMC/minutes/20040316.htm

May 6, 2004 - The Federal Reserve Board on Thursday requested public comment on a proposed rule that would retain trust preferred securities in the tier 1 capital of bank holding companies, but with stricter quantitative limits and clearer qualitative standards. www.federalreserve.gov/boarddocs/press/bcreg/2004/20040506/default.htm

May 6, 2004 - Governor Mark W. Olson Panel discussion: The Competitive Edge of Community Banks At the Fortieth Annual Conference on Bank Structure and Competition, Sponsored by the Federal Reserve Bank of Chicago, Chicago, Illinois www.federalreserve.gov/boarddocs/speeches/2004/200405063/default.htm

May 6, 2004 - Chairman Alan Greenspan Globalization and innovation At the Conference on Bank Structure and Competition, sponsored by the Federal Reserve Bank of Chicago, Chicago, Illinois www.federalreserve.gov/boarddocs/speeches/2004/200405062/default.htm

May 6, 2004 - Governor Susan Schmidt Bies Financial Innovation and Effective Risk Management To the Financial Services Institute 2004, Washington, D.C. www.federalreserve.gov/boarddocs/speeches/2004/20040506/default.htm

May 5, 2004 - Governor Mark W. Olson The Federal Open Market Committee and the Formation of Monetary Policy At the 26th Conference of the American Council on Gift Annuities, Orlando, Florida www.federalreserve.gov/boarddocs/speeches/2004/20040505/default.htm

May 5, 2004 - Bank Secrecy Act/Anti-Money Laundering - This bulletin transmits two final rules published on April 12, 2004, that impose special measures against Burma, Myanmar Mayflower Bank, and Asia Wealth Bank
Press Release: www.occ.treas.gov/ftp/bulletin/2004-18.txt
Attachment: www.occ.treas.gov/fr/fedregister/69fr19093.pdf
Attachment: www.occ.treas.gov/fr/fedregister/69fr19098.pdf

May 5, 2004 - FDIC Issues May 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 The list covers evaluation ratings that the FDIC assigned to institutions in February 2004. www.fdic.gov/news/news/press/2004/pr5004.html

May 5, 2004 - Working Papers - International Finance Discussion Papers 2004-796 through 2004-806 www.federalreserve.gov/pubs/IFDP/2004/default.htm

May 5, 2004 - The revised "Conversions" booklet of the Comptroller's Licensing Manual series is available on the OCC's Web site. This booklet updates and replaces the April 1998 version. The revisions incorporate recent policy and procedure changes; such as, the OCC usually conducts a conversion examination and imposes a fee; discusses post conversion supervisory activities. www.occ.treas.gov/corpbook/group4/public/pdf/conversi.pdf

May 4, 2004 - NCUA - Matz Recognizes Maryland Credit Unions for Committing to Community Outreach - In a keynote address to the Maryland Credit Union League's Community Outreach Summit, National Credit Union Administration Board Member Debbie Matz recognized Maryland credit union leaders for committing to reach people from all walks of life in their communities. www.ncua.gov/news/press_releases/2004/NR04-0504.htm

May 4, 2004 - The Federal Reserve Board on Tuesday announced amendments to Appendix A of Regulation CC, effective July 10, 2004, that reflect the restructuring of the Federal Reserve's check processing operations in the Eleventh District. www.federalreserve.gov/boarddocs/press/bcreg/2004/20040504/default.htm

May 4, 2004 - The Federal Open Market Committee decided today to keep its target for the federal funds rate at 1 percent. www.federalreserve.gov/boarddocs/press/monetary/2004/20040504/default.htm

May 4, 2004 - Statistical Release G.5 Foreign Exchange Rates (Monthly) www.federalreserve.gov/Releases/G5/Current/default.htm

May 3, 2004 - The National Credit Union Administration has announced the agency placed Oak Cliff Community Federal Credit Union of Dallas, Texas into liquidation Friday and authorized the purchase and assumption of its assets and shares by nearby Your Federal Credit Union. www.ncua.gov/news/press_releases/2004/NR04-0503-2.htm

May 3, 2004 - National Credit Union Administration Board Member Debbie Matz has announced a free Partnering and Leadership Successes workshop on October 27 in Honolulu for credit union officials to share "New Ideas to Reach New Members." www.ncua.gov/news/press_releases/2004/NR04-0503.htm

May 3, 2004 - FDIC Sells First Quarter Offerings Through Award-Winning Web-Based System - Using new technology to market and sell its loans over the Internet, the Federal Deposit Insurance Corporation (FDIC) has sold its first quarter 2004 asset sales offerings. www.fdic.gov/news/news/press/2004/pr4904.html

May 3, 2004 - Imposition of Special Measures against Burma, Myanmar Mayflower Bank, and Asia Wealth Bank www.federalreserve.gov/boarddocs/SRLETTERS/2004/sr0406.htm

May 3, 2004 - Reports to the Congress - 90th Annual Report, 2003 www.federalreserve.gov/boarddocs/rptcongress/annual03/default.htm

May 3, 2004 - New Guidance for Examiners, Financial Institutions and Technology Service Providers on Retail Payment Systems - The Federal Financial Institutions Examination Council has issued a booklet with guidance on evaluating retail payment systems. The booklet is the seventh in a series of updates, which will eventually replace the 1996 FFIEC Information Systems Examination Handbook and comprise the new FFIEC Information Technology Examination Handbook. www.fdic.gov/news/news/financial/2004/fil4804.html