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

The Community Banker
Brought to you by Yennik, Inc. the acknowledged leader in Internet auditing for financial institutions.

 

Bank Regulatory News

May 2009

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May 29, 2009 - NCUA Celebrates 75th Anniversary of the Federal Credit Union, June 9-10, 2009 - The National Credit Union Administration is celebrating the 75th Anniversary of the Federal Credit Union Act in June 2009 with a special event on Capitol Hill, and you are invited. The Honorable Congressman Paul Kanjorski will Keynote and John Hope Bryant, founder and CEO of Operation HOPE, Inc. and vice chairman of the U.S. President's Advisory Council on Financial Literacy will be the luncheon speaker. www.ncua.gov/news/press_releases/2009/MA09-0529a.htm 

May 29, 2009 - NCUA Media Advisory - Weekly Corporate Credit Union Update - Normal operations continue without interruption at U.S. Central and WesCorp. The following items specific to U.S. Central and WesCorp are of note: www.ncua.gov/news/press_releases/2009/MA09-0529.htm 

May 29, 2009 - OCC Issues Third Quarter 2009 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 third quarter of 2009. www.occ.treas.gov/ftp/release/2009-57.htm 

May 29, 2009 - The State Liaison Committee of the Federal Financial Institutions Examination Council announced today the re-election of John Munn as its Chairman. Munn is the Director of the Nebraska Department of Banking and Finance, where he has served since January 2005. www.ffiec.gov/press/pr052909.htm 

May 29, 2009 - Interest Rate Restrictions on Institutions That are Less Than Well Capitalized - The FDIC has issued the attached final rule making certain revisions to the interest rate restrictions under Part 337.6 of the FDIC Rules and Regulations. Under the final rule, the "national rate" is a simple average of rates paid by U.S. depository institutions as calculated by the FDIC.  www.fdic.gov/news/news/financial/2009/fil09025.html 

May 29, 2009 - FDIC Tightens and Clarifies Interest Rate Restrictions on Institutions That are Less Than Well Capitalized - The Board of Directors of the Federal Deposit Insurance Corporation today issued a final rule changing the way the FDIC administers its statutory restrictions on the deposit interest rates paid by banks that are less than well capitalized. www.fdic.gov/news/news/press/2009/pr09082.html 

May 29, 2009 - FDIC Issues Third Quarter 2009 CRA Examination Schedule - The Federal Deposit Insurance Corporation has issued the public list of institutions that it has scheduled for a Community Reinvestment Act examination during the third quarter of 2009. This list is published pursuant to revised CRA regulations published in May 1995 that require each federal bank and thrift regulator to publish a quarterly CRA examination schedule at least 30 days before the beginning of each quarter. www.fdic.gov/news/news/press/2009/pr09081.html 

May 29 2009 - FDIC Board Approves Creation of Advisory Committee on Community Banking - The FDIC Board of Directors today approved establishing the FDIC Advisory Committee on Community Banking to provide the FDIC with advice and guidance on a broad range of important policy issues impacting small community banks throughout the country, as well as the local communities they serve, with a focus on rural areas. www.fdic.gov/news/news/press/2009/pr09080.html 

May 29, 2009 - FDIC Makes Public April Enforcement Actions; One Administrative Hearing is Scheduled for June - The Federal Deposit Insurance Corporation today released a list of orders of administrative enforcement actions taken against banks and individuals in April. One administrative hearing is scheduled. www.fdic.gov/news/news/press/2009/pr09079.html 

May 29, 2009 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm 

May 29, 2009 - Federal Open Market Committee - 2003 Bluebooks, Greenbooks, and agendas.  www.federalreserve.gov/monetarypolicy/fomchistorical2003.htm 

May 29 2009 - The Federal Reserve Board on Friday announced the execution of a Written Agreement by and between Affinity Bank Holding, Inc., Ventura, California, a registered bank holding company, and the Federal Reserve Bank of San Francisco. www.federalreserve.gov/newsevents/press/enforcement/20090528b.htm 

May 29, 2009 - The Federal Reserve Board on Friday announced the execution of a Written Agreement by and between W Holding Company, Inc., Mayaguez, Puerto Rico, a registered bank holding company, and the Federal Reserve Bank of New York. www.federalreserve.gov/newsevents/press/enforcement/20090529a.htm   
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May 29, 2009 - FDIC Makes Public April Enforcement Actions; One Administrative Hearing is Scheduled for June - The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in April. One administrative hearing is scheduled. http://www.fdic.gov/news/news/press/2009/pr09079.html

May 28, 2009 - OTS Appoints Members of Mutual Savings Association Advisory Committee and Schedules First Meeting - The Office of Thrift Supervision has appointed the members of its Mutual Savings Association Advisory Committee and has scheduled the committee's inaugural meeting. www.ots.treas.gov/?p=PressReleases&ContentRecord_id=87f56623-1e0b-8562-eb1f-4a54ea3a5c00&ContentType_id=4c12f337-b5b6-4c87-b45c-838958422bf3 

May 28, 2009 - Midwest Manufacturing Output Was Down in April - The Chicago Fed Midwest Manufacturing Index fell 1.1% in April, to a seasonally adjusted level of 81.0. www.chicagofed.org/economic_research_and_data/files/cfmmi_april_2009.pdf 

May 28, 2009 - The Federal Reserve Board on Thursday announced the issuance of a consent Prompt Corrective Action Directive against Neighborhood Community Bank, Newnan, Georgia, a state chartered member bank. www.federalreserve.gov/newsevents/press/enforcement/20090528a.htm 

May 28, 2009 - Statistical Release - Large Commercial Banks.  www.federalreserve.gov/releases/lbr/current/default.htm 

May 27, 2009 - NCUA - Membership, Assets and Savings Grow in '09 as Net Income Continues Decline - Members continue to seek the safe haven of federally insured credit unions, as member share accounts grew across the board by annualized double digits in the first quarter of 2009, while loan growth contracted according to the call report data submitted by the nation's 7,749 federally insured credit unions. www.ncua.gov/news/press_releases/2009/MA09-0527.htm 

May 27, 2009 - Affiliate Marketing and Identity Theft Red Flags and Address Discrepancies Rules: Technical Corrections - Corrections promote consistency between affiliate marketing model forms and regulations. They also clarify the meaning of 'consumer reporting agency' and remedy typographical errors in the red flags rules. www.occ.treas.gov/ftp/bulletin/2009-16.html

May 27, 2009 - Statement of Comptroller of the Currency John C. Dugan - Following Tour of West and South Dallas - Following a tour of successful community development projects in Dallas, Comptroller of the Currency John C. Dugan issued the following statement: http://www.occ.treas.gov/ftp/release/2009-56.htm 

May 27, 2009 - Buyer Beware: Tips from the FDIC on How to Protect Against Foreclosure Frauds, Easy Money Schemes and Other Costly Deals - Other Topics in the Latest FDIC Consumer News Include the Extension of $250,000 Deposit Insurance, More About Mortgage Modification Programs, and Shopping for a CD - Many people concerned about their mortgage, their job or their finances may be especially vulnerable to scams and other costly "fixes" for their problems.  www.fdic.gov/news/news/press/2009/pr09078.html 

May 27, 2009 - Loan-Loss Provisions Continue to Depress Net Income - Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation reported net income of $7.6 billion in the first quarter of 2009, a decline of $11.7 billion from the $19.3 billion that the industry earned in the first quarter of 2008. Higher loan-loss provisions, increased goodwill write-downs, and reduced income from securitization activities all contributed to the year-over-year earnings decline. Three out of five insured institutions reported lower net income in the first quarter and one in five was unprofitable. www.fdic.gov/news/news/press/2009/pr09077.html 

May 27, 2009 - Interest on Required Reserve Balances and Excess Balances - The Federal Reserve Banks pay interest on required reserve balances--balances held at Reserve Banks to satisfy reserve requirements--and on excess balances--balances held in excess of required reserve balances and contractual clearing balances. The Board of Governors has prescribed rules governing the payment of interest by Federal Reserve Banks in Regulation D. www.federalreserve.gov/monetarypolicy/reqresbalances.htm 

May 27, 2009 - Press Release - Restructuring of check processing operations in the Fourth and Ninth Districts, Regulation CC.   www.federalreserve.gov/newsevents/press/bcreg/20090527a.htm 

May 27, 2009 - Legal Interpretations - Bank Holding Company/Change in Control, May 19, 2009 - Letter to Christopher Greene granting temporary relief from the Board's regulatory reporting requirements for bank holding companies to Discover Financial Services, Riverwoods, Illinois. www.federalreserve.gov/boarddocs/legalint/BHC_ChangeInControl/2009/20090519.pdf 

May 27, 2009 - The Federal Reserve Board has approved amendments to Appendix A of Regulation CC that reflect the restructuring of the Federal Reserve Banks' check-processing operations. www.federalreserve.gov/newsevents/press/bcreg/20090527a.htm

May 27, 2009 - The Federal Reserve Board on Wednesday announced the execution of a Written Agreement by and between Community Bancorp, a registered bank holding company, Community Bank of Nevada, a state charted member bank, both of Las Vegas, Nevada, the Federal Reserve Bank of San Francisco and the Nevada Financial Institutions Division. www.federalreserve.gov/newsevents/press/enforcement/20090527a.htm

May 26, 2009 - OTS Acting Director Bowman to Discuss Thrift Industry Performance in First Quarter of 2009 - The Office of Thrift Supervision will hold a news briefing at 2 p.m. on Tuesday, June 2, 2009, to release and discuss performance data for federally regulated thrifts for the first quarter of 2009. OTS Acting Director John E. Bowman will conduct the briefing. www.ots.treas.gov/?p=PressReleases&ContentRecord_id=7e4674e3-1e0b-8562-eb22-d7b3c560be74&ContentType_id=4c12f337-b5b6-4c87-b45c-838958422bf3 

May 26, 2009 - Media Advisory* Reclaiming Vacant Properties: Building Leadership to Restore Communities - An opportunity for government officials, financial and business leaders, community development practitioners, and concerned citizens to hear first-hand, and share their own lessons, about effective strategies to revitalize their communities through vacant property reclamation. www.stlouisfed.org/newsroom/news_releases/newsrelease.cfm?ArticleID=7DF7DDDEF4C53CA77109E3A84D50C067 

May 26, 2009 - Legal Interpretations - Federal Reserve Act, April 22, 2009 - Letter to Michael Civitella (Goldman Sachs Bank USA), for exemptions from section 23A of the Federal Reserve Act and the Board's Regulation W and an exception from the anti-tying restrictions in section 106 of the Bank Holding Company Act of 1970 to allow Goldman Sachs Group Inc. to transfer certain assets to its subsidiary bank. www.federalreserve.gov/boarddocs/legalint/FederalReserveAct/2009/20090422/20090422b.pdf 

May 26, 2009 - The Federal Reserve Board on Tuesday released the minutes of its discount rate meetings on April 6 and 27, 2009. www.federalreserve.gov/newsevents/press/monetary/20090526a.htm 

May 26, 2009 - Comptroller Dugan's Statement on the FDIC's Special Assessment Rule - Comptroller of the Currency John C. Dugan made the following statement about a Final Rule on the Special Assessment at today's Federal Deposit Insurance Corporation meeting: www.occ.treas.gov/ftp/release/2009-54.htm 

May 26, 2009 - OCC Announces New Electronic Interpretations and Actions - May 2009.  www.occ.treas.gov/interp/may09/intmay09.htm 

May 23, 2009 - Vice Chairman Donald L. Kohn - Interactions between Monetary and Fiscal Policy in the Current Situation - At the Conference on Monetary-Fiscal Policy Interactions, Expectations, and Dynamics in the Current Economic Crisis, Princeton University, Princeton, New Jersey.   www.federalreserve.gov/newsevents/speech/kohn20090523a.htm 

May 22, 2009 - OCC Appoints FDIC Receiver for Citizens National Bank - The Office of the Comptroller of the Currency today appointed the Federal Deposit Insurance Corporation as receiver for Citizens National Bank, Macomb, Illinois. Citizens National Bank, with approximately $439 million in assets, was chartered as a national bank in 1939. www.occ.treas.gov/ftp/release/2009-55.htm 

May 22, 2009 - Midland States Bank, Effingham, Illinois, Assumes All of the Deposits of Strategic Capital Bank, Champaign , Illinois - Strategic Capital Bank, Champaign, Illinois, was closed today by the Illinois Department of Financial and Professional Regulation, Division of Banking, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Midland States Bank, Effingham, Illinois, to assume all of the deposits of Strategic Capital Bank. www.fdic.gov/news/news/press/2009/pr09075.html 

May 22, 2009 - Morton Community Bank, Morton, Illinois, Assumes All of the Deposits of Citizens National Bank, Macomb, Illinois - Citizens National Bank, Macomb, Illinois, was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Morton Community Bank, Morton, Illinois, to assume all of the deposits of Citizens National Bank, excluding those from brokers. www.fdic.gov/news/news/press/2009/pr09076.html 

May 22, 2009 - The Federal Reserve Board on Friday announced the adoption of a final rule that will allow bank holding companies to include in their Tier 1 capital without restriction senior perpetual preferred stock issued to the U.S. Treasury Department under the Troubled Asset Relief Program.. This rule makes final the interim final rule that the Board adopted in October 2008. www.federalreserve.gov/newsevents/press/bcreg/20090522a.htm 

May 22, 2009 - NCUA - Letter to Credit Unions Addressing Paid-in Capital and Membership Capital Accounts in Corporate Credit Unions is Released.   www.ncua.gov/letters/2009/CU/LTCUs%2009-CU-PIC%205-21%20(FINAL).pdf 

May 22, 2009 - NCUA Media Advisory - Weekly Corporate Credit Union Update - May 22, 2009.  www.ncua.gov/news/press_releases/2009/MA09-0522b.htm 

May 22, 2009 - NCUA - President Obama Nominates Matz to NCUA Chair - President Barack Obama last night nominated Deborah Matz to the Chair of the National Credit Union Administration. Ms. Matz had previously served on the NCUA Board from March 2002 until September 2005. www.ncua.gov/news/press_releases/2009/MA09-0522.htm 

May 22, 2009 - Investment Securities: Risk Management and Lessons Learned - This bulletin emphasizes key supervisory principles of risk management for investment securities and investment portfolio practices. www.occ.treas.gov/ftp/bulletin/2009-15.html 

May 22, 2009 - Comptroller Dugan's Statement on the FDIC's Special Assessment Rule - Comptroller of the Currency John C. Dugan made the following statement about a Final Rule on the Special Assessment at today's Federal Deposit Insurance Corporation meeting: www.occ.treas.gov/ftp/release/2009-54.htm 

May 22, 2009 - FDIC Insurance Coverage Extension of Temporary Increase in Standard Maximum Deposit Insurance Amount - Summary: On May 20, 2009, President Barack Obama signed the Helping Families Save Their Homes Act, which extends the temporary increase in the standard maximum deposit insurance amount to $250,000 per depositor through December 31, 2013. This extension of the temporary $250,000 coverage limit became effective immediately upon the President's signature. The legislation provides that the SMDIA will return to $100,000 on January 1, 2014. www.fdic.gov/news/news/financial/2009/fil09022.html 

May 22, 2009 - FDIC Adopts Final Rule Imposing a Special Assessment on Insured Depository Institutions Move Designed to Maintain Public Confidence and Ensure That the Deposit Insurance Fund Remains Positive - The Board of Directors of the Federal Deposit Insurance Corporation today voted to levy a special assessment on insured institutions as part of the agency's efforts to rebuild the Deposit Insurance Fund and help maintain public confidence in the banking system. The final rule establishes a special assessment of five basis points on each FDIC-insured depository institution's assets, minus its Tier 1 capital, as of June 30, 2009. The special assessment will be collected September 30, 2009.    www.fdic.gov/news/news/press/2009/pr09074.html   

May 22, 2009 - Statistical Release - G.20 Finance Companies.   www.federalreserve.gov/releases/g20/current/g20.htm 

May 22, 2009 - Legal Interpretation - Federal Reserve Act, May 21, 2009 - Letter to Richard K. Kim, Esq., Wachtell, Lipton, Rosen & Katz, granting exemptions from Section 23A of the Federal Reserve Act (12 U.S.C. 371c) and the Board's Regulation W (12 CFR Part 223) to allow Ally Bank, Midvale, Utah, to lend to consumers to enable them to purchase automobiles from unaffiliated dealers in the United States that obtain floorplan financing from Ally Bank or affiliates of Ally Bank and to provide floorplan financing to unaffiliated dealers to purchase automobiles from General Motors Corporation. www.federalreserve.gov/boarddocs/legalint/FederalReserveAct/2009/20090521/20090521.pdf 

May 22, 2009 - Chairman Ben S. Bernanke - Commencement address - At the 2009 Commencement of the Boston College School of Law, Newton, Massachusetts.  www.federalreserve.gov/newsevents/speech/bernanke20090522a.htm 

May 22, 2009 - The Federal Reserve Board on Friday announced the adoption of a final rule that will allow bank holding companies to include in their Tier 1 capital without restriction senior perpetual preferred stock issued to the U.S. Treasury Department under the Troubled Asset Relief Program. This rule makes final the interim final rule that the Board adopted in October 2008. www.federalreserve.gov/newsevents/press/bcreg/20090522a.htm 

May 21, 2009 - FDIC Approves GMAC Financial Services Participation in TLGP - The Federal Deposit Insurance Corporation announced today the approval of GMAC Financial Services to participate in the Temporary Liquidity Guarantee Program allowing the company to issue up to $7.4 billion in new FDIC-guaranteed debt. GMAC will pay a fee to the FDIC for this guarantee. www.fdic.gov/news/news/press/2009/pr09073.html  ________________________

May 21, 2009 - OTS Closes BankUnited and Appoints FDIC Receiver - The Office of Thrift Supervision today closed the $13.1 billion BankUnited, FSB, of Coral Gables, Florida, and appointed the Federal Deposit Insurance Corporation as receiver. www.ots.treas.gov/?p=PressReleases&ContentRecord_id=64ec6b0e-1e0b-8562-eb1d-319e1f49f734&ContentType_id=4c12f337-b5b6-4c87-b45c-838958422bf3

May 21, 2009 - Farmland Values Drop in First Quarter - Most recent AgLetter reports largest quarterly decline since 1985 for Midwest farmland values. www.chicagofed.org/publications/agletter/may_2009.pdf 

May 21, 2009 - Expansion of Eligible Public Welfare Investments: Final Rule - Final rule expands national banks' authority to make public welfare investments consistent with recent amendments to 12 USC 24(Eleventh). The rule also revises the OCC's CD-1 form. www.occ.treas.gov/ftp/bulletin/2009-14.html 

May 21, 2009 - Comptroller of the Currency Hosts Community Bank Directors Workshops in Bloomington, Minnesota - The Office of the Comptroller of the Currency will host workshops for national community bank directors in Bloomington, Minnesota, at the Sofitel Minneapolis, June 30-July 1, 2009. www.occ.treas.gov/ftp/release/2009-53.htm 

May 21, 2009 - BankUnited Acquires the Banking Operations of BankUnited, FSB, Coral Gables, Florida - BankUnited, a newly chartered federal savings bank, acquired the banking operations, including all of the nonbrokered deposits, of BankUnited, FSB, Coral Gables, Florida, in a transaction facilitated by the Federal Deposit Insurance Corporation As a result of this transaction, BankUnited, FSB, offices and branches will be operated as BankUnited offices and branches. www.fdic.gov/news/news/press/2009/pr09072.html 

May 21, 2009 - Exchange Rates Dependence: What Drives It? - Sigriour Benediktsdottir and Chiara Scotti - Exchange rate movements are difficult to predict but there appear to be discernible patterns in how currencies jointly appreciate or depreciate against the dollar. In this paper, we study the dependence structure of a number of exchange rate pairs against the dollar. www.federalreserve.gov/pubs/ifdp/2009/969/ifdp969.htm 

May 21, 2009 - May 21, 2009 - The Federal Reserve Board on Thursday announced the issuance of a consent Prompt Corrective Action Directive against Community Bank of West Georgia, Villa Rica, Georgia, a state chartered member bank. www.federalreserve.gov/newsevents/press/enforcement/20090521a.htm 

May 21, 2009 - David W. Wilcox, Deputy Director, Division of Research and Statistics - Municipal finance - Before the Committee on Financial Services, U.S. House of Representatives, Washington, D.C. www.federalreserve.gov/newsevents/testimony/wilcox20090521a.htm 

May 21, 2009 - NCUA - "Chairman Fryzel Statement on the Ongoing Resolution of the Corporate Credit Union Situation" - In many ways, yesterday's events marked the culmination of a very difficult chapter in NCUA's efforts to resolve the difficulties facing corporate credit unions, and the credit union industry as a whole. The President signed NCUA's Corporate Stabilization Plan into law, and in doing so provides a responsible and pragmatic mechanism for credit unions to maintain a strong federal insurance fund in a financially manageable manner. www.ncua.gov/news/press_releases/2009/MA09-0521.htm 

May 20, 2009 - NCUA - Fryzel Testifies on Corporate Stabilization Efforts, Legislation - National Credit Union Administration Chairman Michael E. Fryzel told the House Financial Services Subcommittee on Financial Institutions and Consumer Credit today he supports H.R. 2351, The Credit Union Share Insurance Stabilization Act, noting it "represents a real solution to the problem." www.ncua.gov/news/press_releases/2009/MA09-0520.htm 

May 20, 2009 - The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on April 28-29, 2009. A summary of economic projections made by Federal Reserve Board members and Reserve Bank presidents for the April 28-29, 2009 meeting is also included as an addendum to these minutes. www.federalreserve.gov/newsevents/press/monetary/20090520a.htm 

May 20, 2009 - The Federal Reserve Board on Wednesday announced the approval of final amendments to Regulation D to liberalize the types of transfers consumers can make from savings deposits and to make it easier for community banks that use correspondent banks to receive interest on excess balances held at Federal Reserve Banks. www.federalreserve.gov/newsevents/press/monetary/20090520b.htm 

May 20, 2009 - The Federal Reserve Board and the New York State Banking Department on Wednesday announced the execution of a Written Agreement by and among Philippine National Bank, Pasay City, Philippines; the bank's branch in New York, New York; the Federal Reserve Bank of San Francisco; the Federal Reserve Bank of New York; and the New York State Banking Department. www.federalreserve.gov/newsevents/press/enforcement/20090520a.htm 

May 19, 2009 - OCC Releases CRA Evaluations For 39 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, 2009 through May 14, 2009. www.occ.treas.gov/ftp/release/2009-52.htm 

May19, 2009 - Credit and Liquidity Programs and the Balance Sheet - Collateral and rate setting updates.   www.federalreserve.gov/monetarypolicy/bst_ratesetting.htm 

May 19, 2009 - The Federal Reserve Board on Tuesday announced that, starting in July, certain high-quality commercial mortgage-backed securities issued before January 1, 2009 will become eligible collateral under the Term Asset-Backed Securities Loan Facility.  http://www.federalreserve.gov/newsevents/press/monetary/20090519b.htm 

May 19, 2009 - On May 18, 2009, the Federal Reserve conducted an auction of $150 billion in 84-day credit through its Term Auction Facility. Following are the results of the auction: www.federalreserve.gov/newsevents/press/monetary/20090519a.htm 

May 19, 2009 - The Federal Reserve Board on Tuesday announced the execution of a Written Agreement by and among Barnes Bancorporation, a registered bank holding company, and Barnes Banking Company, a state chartered member bank, both of Kaysville, Utah, and the Federal Reserve Bank of San Francisco. www.federalreserve.gov/newsevents/press/enforcement/20090519a.htm 

May 18, 2009 - NCUA to Launch Updated, Reorganized Website - That National Credit Union Administration is debuting an enhanced, modernized website May 20, 2009, that will provide users with easier access to data and information. www.ncua.gov/news/press_releases/2009/MR09-0518a.htm 

May 18, 2009 - The OCC concurrently releases the latest annual updates for calendar year 2008 of Significant Legal, Licensing, and Community Development Precedents for National Banks, Annual, and Activities Permissible for a National Bank, Cumulative, which describe activities that are authorized for a national bank as part of, or incidental to, the business of banking.
www.occ.treas.gov/sigpre.pdf 
www.occ.treas.gov/corpapps/bankact.pdf 

May 18, 2009 - Statistical Release - Charge-Off and Delinquency Rates on Loans at Commercial Banks - These data are compiled from the quarterly FFIEC Consolidated Reports of Condition and Income. Data for each calendar quarter become available approximately sixty days after the end of the quarter. www.federalreserve.gov/releases/chargeoff/ 

May 18, 2009 - On May 18, 2009, the Federal Reserve will offer $150 billion in 84-day credit through its Term Auction Facility. Additional information regarding the auction is listed below; the auction will be conducted as specified in this announcement, Regulation A, and the terms and conditions of the Term Auction Facility.  www.federalreserve.gov/newsevents/press/monetary/20090518a.htm 

May 15, 2009 - NCUA - Rouge Employees Credit Union Members Now Served by Chief Financial Federal Credit Union - Member Accounts are Safe and Federally Insured - The National Credit Union Administration was appointed liquidating agent of Rouge Employees Credit Union in Dearborn by the Michigan Office of Financial & Insurance Regulation on May 15, 2009. Effective May 18, 2009, Rouge Employees Credit Union members will be served by Chief Financial Federal Credit Union (formerly Chief Pontiac Federal Credit Union) of Pontiac, Michigan. www.ncua.gov/news/press_releases/2009/MR09-0515.htm 

May 14, 2009 - NCUA - Weekly Corporate Credit Union Update - Normal operations continue without interruption at U.S. Central Federal Credit Union and Western Corporate Federal Credit Union.  www.ncua.gov/news/press_releases/2009/MA09-0515.htm 

May 15, 2009 - OCC Enforcement Actions - The Office of the Comptroller of the Currency today released new enforcement actions taken against national banks and individuals currently and formerly affiliated with national banks. www.occ.treas.gov/ftp/release/2009-51.htm 

May 15, 2009 - Ag Credit Survey Finds Farmland Values Stabilize, Capital Spending Slows.   www.kc.frb.org/pubaffrs/pressrel/2009pdf/press.release.09.09.pdf 

May 15, 2009 - FDIC Statement Clarifying Bloomberg Article - Statement from the FDIC Office of Public Affairs, "The Bloomberg story referencing Chairman Bair's discussion of management and board changes is misleading and does not provide the proper context of her comments. Chairman Bair said that management changes could happen based on the capital plans that an institution must submit to the government. She did not refer to CEOs specifically and the comment was in the context of capital plans submitted by the institutions. Chairman Bair also did not suggest the federal government will remove the bank CEOs." www.fdic.gov/news/news/press/2009/pr09071.html 

May15, 2009 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.  www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm 

May 15, 2009 - Statistical Release - G.17 Industrial Production - Industrial production decreased 0.5 percent in April after having fallen 1.7 percent in March. Production in manufacturing declined 0.3 percent in April and was 16.0 percent below its recent peak in December 2007. The decreases in manufacturing in April remained broadly based across industries. Outside of manufacturing, the output of mines fell 3.2 percent, as oil and gas field drilling and support activities continued to drop www.federalreserve.gov/releases/g17/Current/
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May 15, 2009 - OCC Enforcement Actions - The Office of the Comptroller of the Currency (OCC) today released new enforcement actions taken against national banks and individuals currently and formerly affiliated with national banks. http://www.occ.treas.gov/ftp/release/2009-51.htm

May 14, 2009 - Comptroller Dugan Issues Statement on Passing of L. William Seidman - Comptroller of the Currency John C. Dugan issued the following statement today regarding the passing of L. William Seidman: www.occ.treas.gov/ftp/release/2009-50.htm 

May 14, 2009 - Halverson Joins St. Louis Fed's Health Care Council - Dr. Paul K. Halverson, director and state health officer of the Arkansas Department of Health in Little Rock, Ark., has joined the Health Care Industry Council of the Federal Reserve Bank of St. Louis. www.stlouisfed.org/news/releases/2009/05_14_09c.html 

May 14, 2009 - Kentucky and Indiana Business Leaders Join St. Louis Fed's Industry Councils - The Federal Reserve Bank of St. Louis has named the following Kentucky and Indiana area business leaders to its Industry Councils.  www.stlouisfed.org/news/releases/2009/05_14_09b.html 

May 14, 2009 - Memphis Business Leaders Join St. Louis Fed's Industry Councils - The Federal Reserve Bank of St. Louis has named the following Memphis area business leaders to its Industry Councils.  www.stlouisfed.org/news/releases/2009/05_14_09a.html 

May 14, 2009 - Hegger Joins St. Louis Fed's Real Estate Council - Joseph D. Hegger, director of the Jeffrey E. Smith Institute of Real Estate at the University of Missouri's Robert J. Trulaske Sr. College of Business in Columbia, Mo., has joined the Real Estate Industry Council of the Federal Reserve Bank of St. Louis. www.stlouisfed.org/news/releases/2009/05_14_09.html 

May 14, 2009 - Reset Price Inflation and the Impact of Monetary Policy Shocks - Mark Bils, Peter J. Klenow, and Benjamin A. Malin - A standard state-dependent pricing model implies very limited scope for using active monetary policy to stabilize real activity. Two modeling strategies which expand the role of monetary policy are time-dependent pricing and strategic complementarities between price-setting firms. www.federalreserve.gov/pubs/feds/2009/200916/index.html 

May 14, 2009 - The Federal Reserve Board on Thursday announced the execution of a Written Agreement by and between First Mutual Bancorp of Illinois, Inc., Harvey, Illinois, a registered bank holding company, and the Federal Reserve Bank of Chicago. www.federalreserve.gov/newsevents/press/enforcement/20090514a.htm 

May 13, 2009 - NCUA - Fryzel Statement on Kanjorski Credit Union Insurance Stabilization Bill - "This initiative by Chairman Kanjorski, Chairman Gutierrez, Congressman Royce, Congressman Scott and Congressman LaTourette moves the NCUA and the credit union industry another step closer to creating a real and pragmatic solution to the corporate credit union situation. www.ncua.gov/news/press_releases/2009/MA09-0513.htm 

May13, 2009 - Co-Chairmen and Three New Members Appointed for OTS Minority Depository Institutions Advisory Committee - The Office of Thrift Supervision announced today the appointment of co-chairmen of its Minority Depository Institutions Advisory Committee and expansion of the Committee by three members. www.ots.treas.gov/?p=PressReleases&ContentRecord_id=3b9ef0e0-1e0b-8562-eba9-238e57d24b1d&ContentType_id=4c12f337-b5b6-4c87-b45c-838958422bf3 

May 13, 2009 - A senior officer of the Federal Reserve Bank of St. Louis discusses the causes and results of the financial crisis, as well as the tools and methods being used to get the economy back on track. - Julie Stackhouse, senior vice president of banking supervision and regulation for the Federal Reserve Bank of St. Louis.  www.stlouisfed.org/news/releases/2009/05_13_09.html 

May 13, 2009 - FDIC Chairman Sheila Bair Comments on the Passing of L. William (Bill) Seidman.   www.fdic.gov/news/news/press/2009/pr09070.html 

May 13, 2009 - Legal Developments Section 19 Letters.  www.federalreserve.gov/bankinforeg/legaldevelopments/ordersother2009.htm#4560 

May 13, 2009 - Interest on Required Reserve Balances and Excess Balances - The Federal Reserve Banks pay interest on required reserve balances--balances held at Reserve Banks to satisfy reserve requirements--and on excess balances--balances held in excess of required reserve balances and contractual clearing balances. The Board of Governors has prescribed rules governing the payment of interest by Federal Reserve Banks in Regulation D (Reserve Requirements of Depository Institutions, 12 CFR Part 204). www.federalreserve.gov/monetarypolicy/reqresbalances.htm 

May 13, 2009 - The Federal Reserve Board on Wednesday announced the termination of the enforcement action Dresdner Bank AG, Frankfurt, Germany and Dresdner Bank AG, New York Branch, New York, New York Cease and Desist Order dated November 7, 2008 Terminated May 11, 2009.  www.federalreserve.gov/newsevents/press/enforcement/20090513a.htm 

May 12, 2009 - The Federal Financial Institutions Examination Council announced today the appointment of two new members of the State Liaison Committee Sarah Bloom Raskin, Commissioner, Maryland Office of Financial Regulation; and Charles A. Vice, Commissioner, Kentucky Department of Financial Institutions. www.ffiec.gov/press/pr051209.htm 

May12, 2009 - Legal Interpretation - Letter to David J. DeBrunner granting temporary relief from the Board's regulatory reporting requirements for bank holding companies to GMAC LLC, Detroit, Michigan. www.federalreserve.gov/boarddocs/legalint/BHC_ChangeInControl/2009/20090413a.pdf 

May 12, 2009 - Legal Interpretation - Letter to Denise Sawyer granting temporary relief from the Board's regulatory reporting requirements for bank holding companies to Bank of America Corporation, Charlotte, North Carolina. www.federalreserve.gov/boarddocs/legalint/BHC_ChangeInControl/2009/20090413b.pdf 

May 12, 2009 - The Federal Reserve Board on Tuesday announced the execution of a Written Agreement by and among Security Bank Corporation and Security Interim Holding Corporation, each of Macon, Georgia, registered bank holding companies, the Federal Reserve Bank of Atlanta, and the Banking Commissioner of the State of Georgia. www.federalreserve.gov/newsevents/press/enforcement/20090512a.htm 

May 11, 2009 - Chairman Ben S. Bernanke - The Supervisory Capital Assessment Program - At the Federal Reserve Bank of Atlanta 2009 Financial Markets Conference, Jekyll Island, Georgia.  www.federalreserve.gov/newsevents/speech/bernanke20090511a.htm 

May 11, 2009 - Who Gets Better Pay and Benefits? - Chicago Fed Letter explores the differences in compensation between the public and private sectors. www.chicagofed.org/publications/fedletter/cflmay2009_262a.pdf 

May 11, 2009 - How Detroit Lost Its Dominance of U.S. Auto Industry - Chicago Fed economist Thomas Klier explores the decline of the Detroit Three. www.chicagofed.org/publications/economicperspectives/ep_2qtr2009_part1_klier.pdf 

May 11, 2009 - Comparing Default Among Prime, Subprime Mortgages - Economic Perspectives analyzes how forecasts of defaults are affected by home price trend assumptions. www.chicagofed.org/publications/economicperspectives/ep_2qtr2009_part2_amromin_paulson.pdf
 
May11, 2009 - Policymaking Under Uncertainty - Ecomomic Perspectives examines the robust control approach to the formulation of monetary policy www.chicagofed.org/publications/economicperspectives/ep_2qtr2009_part3_barlevy.pdf 

May 11, 2009 - Community Reinvestment Act: Income Level, Median Family Income - U.S. Census and Department of Housing and Urban Development data are used to determine income levels of geographies in Community Reinvestment Act performance evaluations. www.occ.treas.gov/ftp/bulletin/2009-13.html 

May 8, 2009 - Kitsap Bank, Port Orchard, Washington, Assumes All of the Deposits of Westsound Bank, Bremerton, Washington - Westsound Bank, Bremerton, Washington, was closed today by the Washington Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Kitsap Bank, Port Orchard, Washington, to assume all of the deposits, except those from brokers, of Westsound Bank. www.fdic.gov/news/news/press/2009/pr09069.html 

May 8, 2009 - NCUA - Hood Emphasizes That the Time is Right for Credit Unions to Gain Market Share - National Credit Union Administration Vice Chairman Rodney E. Hood addressed the National Association of Credit Union Service Organizations Annual Meeting. This year's meeting focused on credit union sustainability through collaborative efforts and multi-owned CUSO's which provide additional resources and expertise, spread the risk and capital investment of business ventures, and ultimately direct more value back to credit union members. www.ncua.gov/news/press_releases/2009/MA09-0508a.htm 

May 8, 2009 - NCUA - Weekly Corporate Credit Union Update - May 8, 2009.  www.ncua.gov/news/press_releases/2009/MA09-0508.htm 

May 8, 2009 - Comptroller of the Currency Hosts Community Bank Directors Workshops in Syracuse, New York - The Office of the Comptroller of the Currency will host workshops for national community bank directors in Syracuse, New York, at the Sheraton Syracuse University, June 9-10, 2009. www.occ.treas.gov/ftp/release/2009-49.htm  

May 8, 2009 - FDIC to Open a Temporary East Coast Satellite Office - The Jacksonville Office will Assist with Asset Sales and Bank Closings - The Federal Deposit Insurance Corporation today announced it will open a temporary satellite office in Jacksonville, Florida, to manage receiverships and to liquidate assets from failed financial institutions primarily located in the eastern states. www.fdic.gov/news/news/press/2009/pr09068.html 

May 8, 2009 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.  www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm 

May 8, 2009 - Legal Interpretation - Bank Holding Company Act, March 30, 2009 - Letter to Gregory A. Baer granting an exemption from the Board's risk-based capital guidelines for bank holding companies (12 CFR Part 225, App. A) to permit Bank of America Corporation, Charlotte, North Carolina, to include in tier 1 capital certain deferred tax assets acquired in connection with its purchase of Merrill Lynch & Company, Inc. www.federalreserve.gov/boarddocs/legalint/BHC_ChangeInControl/2009/20090330a.pdf 

May 8, 2009 - The Federal Reserve Board on Friday announced its approval of the applications by (i) Allied Irish Banks, p.l.c., Dublin, Ireland, and M&T Bank Corporation and First Empire State Holding Company, both of Buffalo, New York, to acquire Provident Bankshares Corporation and its subsidiary bank, Provident Bank of Maryland ("Provident Bank"), both of Baltimore, Maryland, pursuant to section 3 of the Bank Holding Company Act; and (ii) Manufacturers and Traders Trust Company, Buffalo, to merge with Provident Bank, pursuant to section 18(c) of the Federal Deposit Insurance Act, and to operate at the existing branch locations of Provident Bank, pursuant to section 9 of the Federal Reserve Act. www.federalreserve.gov/newsevents/press/orders/20090508a.htm 

May 8, 2009 - The Federal Reserve Board on Thursday approved final rules that revise the disclosure requirements for mortgage loans under Regulation Z. The revisions implement the Mortgage Disclosure Improvement Act, which was enacted in July 2008 as an amendment to the Truth in Lending Act.  www.federalreserve.gov/newsevents/press/bcreg/20090508a.htm 

May 7, 2009 - Statement of Comptroller Dugan on the Results of the Supervisory Capital Assessment Program - Comptroller of the Currency John C. Dugan issued the following statement today on the results of the Supervisory Capital Assessment Program www.occ.treas.gov/ftp/release/2009-48.htm __________________

May 7, 2009 - Participants in Debt Guarantee Component of FDIC's Temporary Liquidity Guarantee Program Inclusion of Minority- and Women-Owned Businesses for Contracting and Underwriting Needs - The FDIC encourages participants in the debt guarantee component of the FDIC's Temporary Liquidity Guarantee Program to consider using qualified minority- and women-owned businesses to support their contracting and underwriting needs. www.fdic.gov/news/news/financial/2009/fil09021.html 

May 7, 2009 - Statement by FDIC Chairman Sheila C. Bair on Stress Tests - Federal Deposit Insurance Corporation Chairman Sheila C. Bair today commented on the release of the results of the Capital Assessment Program. www.fdic.gov/news/news/press/2009/pr09067.html 

May 7, 2009 - Statistical Release - G.19 Consumer Credit - Consumer credit decreased at an annual rate of 2 percent in the first quarter. Revolving credit decreased at an annual rate of 6-1/2 percent, and nonrevolving credit increased at an annual rate of 1 percent. In March, consumer credit decreased at an annual rate of 5-1/4 percent. www.federalreserve.gov/releases/g19/current/default.htm 

May 7, 2009 - Chairman Ben S. Bernanke - Lessons of the Financial Crisis for Banking Supervision - At the Federal Reserve Bank of Chicago Conference on Bank Structure and Competition, Chicago, Illinois.  www.federalreserve.gov/newsevents/speech/bernanke20090507a.htm 

May 7, 2009 - The Federal Reserve Board on Thursday announced the approval of an application by Standard Chartered Bank, London, England, to establish a representative office in Houston, Texas. www.federalreserve.gov/newsevents/press/orders/20090507a.htm 

May 7, 2009 - The results of a comprehensive, forward-looking assessment of the financial conditions of the nation's 19 largest bank holding companies by the federal bank supervisory agencies were released on Thursday. www.federalreserve.gov/newsevents/press/bcreg/20090507a.htm 

May 7, 2009 - NCUA - Fryzel Addresses Creation Of A Systemic Risk Council - NCUA Chairman Michael E. Fryzel today issued the following statement in response to FDIC Chairman Sheila Bair's testimony yesterday regarding Congressional creation of a systemic risk council. www.ncua.gov/news/press_releases/2009/MA09-0507.htm 

May 6, 2009 - NCUA - Fryzel Statement on Senate Passage of NCUA Corporate Stabilization Plan - National Credit Union Administration Chairman Michael E. Fryzel's statement: www.ncua.gov/news/press_releases/2009/MA09-0506.htm 

May 6, 2009 - Federal Open Market Committee - 2003 Transcripts and Presentation Materials.   www.federalreserve.gov/monetarypolicy/fomchistorical2003.htm 

May 6, 2009 - Joint Statement By Secretary Of The Treasury Timothy F. Geithner, Chairman Of The Board Of Governors Of The Federal Reserve System Ben S. Bernanke, Chairman Of The Federal Deposit Insurance Corporation Sheila Bair, And Comptroller Of The Currency John C. Dugan - The Treasury Capital Assistance Program and the Supervisory Capital Assessment Program. 
Press Release: www.federalreserve.gov/newsevents/press/bcreg/20090506a.htm 
Press Release: www.occ.treas.gov/ftp/release/2009-47.htm 

May 6, 2009 - The Federal Reserve Board on Wednesday announced the execution of a Written Agreement by and between Bay National Corporation, Lutherville, Maryland, a registered bank holding company, and the Federal Reserve Bank of Richmond. www.federalreserve.gov/newsevents/press/enforcement/20090506b.htm 

May 6, 2009 - The Federal Reserve Board on Wednesday announced the termination of the enforcement action Cache Valley Banking Company and Cache Valley Bank, Logan, Utah Cease and Desist Order dated March 20, 2007 Terminated April 28, 2009.   www.federalreserve.gov/newsevents/press/enforcement/20090506a.htm 

May 5, 2009 - FDIC Issues List of Banks Examined for CRA Compliance - The Federal Deposit Insurance Corporation today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act. The list covers evaluation ratings that the FDIC assigned to institutions in February 2009. The CRA is a 1977 law intended to encourage insured banks and thrifts to meet local credit needs, including those of low- and moderate-income neighborhoods, consistent with safe and sound operations. www.fdic.gov/news/news/press/2009/pr09066.html 

May 5, 2009 - FDIC Announces Expansion of Ombudsman's Office to Assist Customers With Loans at Failed Banks - Also Provides Additional Resources to Help Borrowers Understand Bank Failures - The Federal Deposit Insurance Corporation today announced the creation of a new unit within the Office of the Ombudsman specifically designed to assist customers with loans at failed banks. This new unit will complement the extensive work that the FDIC conducts on behalf of the public, and is another effort to provide effective avenues to address questions or concerns of borrowers of failed banks. www.fdic.gov/news/news/press/2009/pr09065.html 

May 5, 2009 - Chairman Ben S. Bernanke - The economic outlook - Before the Joint Economic Committee, U.S. Congress, Washington, D.C. www.federalreserve.gov/newsevents/testimony/bernanke20090505a.htm 

May 5, 2009 - On May 4, 2009, the Federal Reserve conducted an auction of $150 billion in 28-day credit through its Term Auction Facility. Following are the results of the auction.  www.federalreserve.gov/newsevents/press/monetary/20090505a.htm 

May 4, 2009 - Federal Reserve Chairman to Speak at Conference - Ben S. Bernanke will be a keynote speaker at the 45th annual Conference on Bank Structure and Competition. www.chicagofed.org/news_and_conferences/conferences_and_events/2009_bsc.cfm 

May 4, 2009 - Unhappy? Maybe It's Unemployment - And Inflation: St. Louis Fed Analysis - Unemployment, not surprisingly, can have a negative effect on people's past and future assessments of their personal well-being, but so does inflation, based on an analysis from the Federal Reserve Bank of St. Louis. www.stlouisfed.org/news/releases/2009/05_04_09.html 

May 4, 2009 - Michael Bradfield Appointed FDIC General Counsel - FDIC Chairman Sheila C. Bair today announced the appointment of Michael Bradfield as the agency's new General Counsel. The appointment was unanimously approved by the FDIC Board of Directors and is effective today. www.fdic.gov/news/news/press/2009/pr09064.html 

May 4, 2009 - The April 2009 Senior Loan Officer Opinion Survey on Bank Lending Practices addressed changes in the supply of, and demand for, loans to businesses and households over the previous three months. The survey also included two sets of special questions: The first set asked banks about their expectations for delinquencies and charge-offs on existing loans to business and households; the second set queried banks about international trade finance.  www.federalreserve.gov/boarddocs/SnLoanSurvey/200905/ 

May 4, 2009 - The Federal Reserve Board has approved amendments to Appendix A of Regulation CC that reflect the restructuring of the Federal Reserve Banks' check-processing operations. www.federalreserve.gov/newsevents/press/bcreg/20090504a.htm 

May 4, 2009 - On May 4, 2009, the Federal Reserve will offer $150 billion in 28-day credit through its Term Auction Facility. Additional information regarding the auction is listed below; the auction will be conducted as specified in this announcement, Regulation A, and the terms and conditions of the Term Auction Facility.  www.federalreserve.gov/newsevents/press/monetary/20090504a.htm 

May 4, 2009 - The Federal Reserve Board on Monday announced the execution of a Written Agreement by and between Hometown Bancshares, Inc., Carthage, Missouri, a registered bank holding company, and the Federal Reserve Bank of Kansas City. www.federalreserve.gov/newsevents/press/enforcement/20090504a.htm 

May 1, 2009 - NCUA - Weekly Corporate Credit Union Update - May 1, 2009 - Normal operations continue without interruption at U.S. Central Federal Credit Union and Western Corporate Federal Credit Union. The following items specific to U.S. Central and WesCorp are of note: www.ncua.gov/news/press_releases/2009/MA09-0501.htm 

May 1, 2009 - OCC Appoints FDIC Receiver for Silverton Bank, N.A.- The Office of the Comptroller of the Currency today appointed the Federal Deposit Insurance Corporation as receiver for Silverton Bank, N.A., Atlanta, Georgia. Silverton Bank, N.A. had no branches and had loan production or representative offices in Alabama, Florida, North Carolina, Tennessee, Illinois, Maryland, Ohio and Washington. The bank had approximately $4.1 billion in assets at March 31, 2009. www.occ.treas.gov/ftp/release/2009-46.htm 

May 1, 2009 - St. Louis Fed's Bullard Addresses Future of Financial Regulation at Arkansas Bankers Association Annual Meeting - St. Louis Fed President James Bullard said Friday that while history shows important financial crises have resulted in new reform-oriented legislation - and that the current crisis is likely to follow this pattern - the design of an effective reform is far from clear at this point. www.stlouisfed.org/news/releases/2009/05_01_09.html

May 1, 2009 - North Jersey Community Bank, Englewood Cliffs, New Jersey, Assumes All of the Deposits of Citizens Community Bank, Ridgewood, New Jersey - Citizens Community Bank, Ridgewood, New Jersey, was closed today by the New Jersey Department of Banking and Insurance, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with North Jersey Community Bank, Englewood Cliffs, New Jersey, to assume all of the deposits of Citizens Community Bank. www.fdic.gov/news/news/press/2009/pr09062.html 

May 1, 2009 - FDIC Creates Bridge Bank to Take Over Operations of Silverton Bank, National Association, Atlanta, Georgia - The Federal Deposit Insurance Corporation created a bridge bank to take over the operations of Silverton Bank, National Association, Atlanta, Georgia, after the bank was closed today by the Office of the Comptroller of the Currency. The OCC appointed the FDIC as receiver. The newly created bank is Silverton Bridge Bank, National Association. www.fdic.gov/news/news/press/2009/pr09061.html 

May 1, 2009 - Statistical Release - G.5 Foreign Exchange Rates - The Table Below Shows The Average Rates Of Exchange In April 2009 Together With Comparable Figures For Other Months. Averages Are Based On Daily Noon Buying Rates For Cable Transfers In New York City Certified For Customs Purposes By The Federal Reserve Bank Of New York. www.federalreserve.gov/releases/g5/current/ 

May 1, 2009 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm 

May 1, 2009 - The Federal Reserve Board on Friday announced that, starting in June, commercial mortgage-backed securities and securities backed by insurance premium finance loans will be eligible collateral under the Term Asset-Backed Securities Loan Facility www.federalreserve.gov/newsevents/press/monetary/20090501a.htm

 

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