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 2003

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

May 31, 2003 - Some Thoughts on Monetary Policy in Japan - Remarks by Governor Ben S. Bernanke Before the Japan Society of Monetary Economics, Tokyo, Japan  May 31, 2003 - www.federalreserve.gov/boarddocs/speeches/2003/20030531/default.htm


May 30, 2003 - The Federal Reserve Board on Friday announced the approval of the application of HSH Nordbank Aktiengesellschaft of Hamburg and Kiel, Germany, to establish a branch in New York, New York. www.federalreserve.gov/boarddocs/press/orders/2003/20030530/default.htm

May 30, 2003 - Restoring our confidence in bank controls and financial statements - Governor Susan Schmidt Bies Before the Conference of State Bank Supervisors  www.federalreserve.gov/boarddocs/speeches/2003/20030530/default.htm

May 30, 2003 - OCC Issues Third Quarter 2003 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 2003.
News Release: www.occ.treas.gov/newsrelease.asp?Doc=2EL08XYX.xml
Attachment: www.occ.treas.gov/ftp/release/2003-42a.xls

May 30, 2003 - OCC - Chief of Staff Mark A. Nishan Address Urban Financial Services Coalition 
News Release: www.occ.treas.gov/newsrelease.asp?Doc=X37SN8Y7.xml  
Attachment: www.occ.treas.gov/ftp/release/2003-41a.pdf

May 30, 2003 - Donald E. Powell Chairman Federal Deposit Insurance Corporation The ILC Debate: Regulatory And Supervisory Issues Remarks Before The  Conference Of  State Bank Supervisors May 30, 2003 Asheville, NC www.fdic.gov/news/news/press/2003/pr5203.html

May 30, 2003 - FDIC Chairman Powell Addresses Concerns About Expanded Powers For Industrial Loan Companies - Federal Deposit Insurance Corp. Chairman Don Powell today addressed concerns that legislation to expand the authority of Industrial Loan Companies would result in unfair competition and unsafe practices. At issue is legislation that would allow ILCs, which typically are limited-purpose lending institutions owned by commercial firms, to be equal with banks when it comes to powers such as interstate branching and paying interest on business checking accounts. http://www.fdic.gov/news/news/press/2003/pr5103.html

May 29, 2003 - NCUA Chairman Dollar Says Risk-Based PCA An "Idea Worthy Of Serious Consideration" - National Credit Union Administration Board Chairman Dennis Dollar told a group of credit union leaders here today that legislation is needed to "improve the one-size-fits-all PCA law" that he says inhibits proper credit union business planning because it "fails to properly reward solid risk management decisions and penalizes planned and balanced credit union growth." www.ncua.gov/news/press_releases/2003/NR03-0529.htm

May 29, 2003 - Application of Recent Corporate Governance Initiatives to Non-Public Banking Organizations - On May 6, 2003, the Office of the Comptroller of the Currency, the Office of Thrift Supervision, and the Board of Governors of the Federal Reserve System jointly issued the attached Interagency Statement on the Application of Recent Corporate Governance Initiatives to Non-Public Banking Organizations. www.occ.treas.gov/ftp/bulletin/2003-21.txt

May 29, 2003 - Revisions to the Suspicious Activity Report Form - In 1985, the Federal Reserve, along with the other federal financial institution regulatory agencies, issued procedures to be used by banks and other financial institutions operating in the United States to report known or suspected criminal activities to the appropriate law enforcement authorities and bank supervisors. www.federalreserve.gov/BoardDocs/srletters/2003/sr0312.htm

May 29, 2003 - Enhancement to the Name Check Process Related to Applications Reviewed by the Federal Reserve - In connection with its review of various applications and notices, the Federal Reserve has had a longstanding policy of conducting name checks with law enforcement and other government authorities on certain individuals associated with a proposed transaction. www.federalreserve.gov/BoardDocs/srletters/2003/sr0310.htm

May 29, 2003 - Interagency Paper on Sound Practices to Strengthen the Resilience of the U.S. Financial System - The Federal Reserve Board, U.S. Securities and Exchange Commission, and Office of the Comptroller of the Currency have published the attached Interagency Paper on Sound Practices to Strengthen the Resilience of the U.S. Financial System www.federalreserve.gov/BoardDocs/srletters/2003/sr0309.htm

May 29, 2003 - The Federal Reserve Board on Thursday announced the execution of a Written Agreement by and between Brickyard Bancorp, Inc., Lincolnwood, Illinois, and the Federal Reserve Bank of Chicago. www.federalreserve.gov/boarddocs/press/Enforcement/2003/200305292/default.htm

May 29, 2003 - The Federal Reserve Board on Thursday announced the execution of a Written Agreement by and among the NAB Bank, Chicago, Illinois, the Federal Reserve Bank of Chicago, and the State of Illinois Office of Banks and Real Estate. www.federalreserve.gov/boarddocs/press/Enforcement/2003/20030529/default.htm

May 29, 2003 - Computer Software Patch Management - The FDIC is providing guidance to financial institutions about the importance of maintaining an effective computer software patch management program. This guidance provides institutions with background information on the risks associated with software vulnerabilities and how they can be mitigated through an effective patch management program. www.fdic.gov/news/news/financial/2003/fil0343.html 

May 29, 2003 - FDIC Makes Public April Enforcement Actions; No Administrative Hearings Scheduled  - The Federal Deposit Insurance Corporation (FDIC) 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/2003/pr5003.html

May 28, 2003 - NCUA - Opinion Letter - Applicability of the District of Columbia (D.C.) Home Loan Protection Act of 2002 to FCU's - 03-0165 - www.ncua.gov/ref/opinion_letters/2003_letters/03-0165.pdf

May 28, 2003 - Financial Holding Companies As of May 23, 2003 - 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 28, 2003 - Charge-Off and Delinquency Rates on Loans at Commercial Banks - These data are compiled from the quarterly FFIEC Consolidated Reports of Condition and Income. www.federalreserve.gov/Releases/ChargeOff/default.htm

May 28, 2003 - The Federal Reserve Board on Wednesday announced that it is seeking public comment on a proposal to amend Regulation K to require Edge and Agreement corporations and U.S. branches, agencies, and other offices of foreign banks supervised by the Board to establish and maintain procedures reasonably designed to ensure and monitor compliance with the Bank Secrecy Act and related regulations. www.federalreserve.gov/boarddocs/press/bcreg/2003/20030528/default.htm

May 27, 2003 - NCUA - Strong savings and asset growth continues - The nation's 9,602 federally insured credit unions posted over 5 percent growth in assets and shares in the first three months of 2003 according to preliminary call report data. www.ncua.gov/news/press_releases/2003/NR03-0527.htm

May 27, 2003 - Basel II Capital Accord Documents Relating to U.S. Implementation of Basel II, May 2003 - These documents provide information about U.S. implementation of the proposed Basel Accord revisions (Basel II). They were developed by the Federal Reserve, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation, which are working closely together on U.S. implementation of Basel II. www.federalreserve.gov/GeneralInfo/basel2/default.htm

May 27, 2003 - Final Rule on Customer Identification Programs - The Department of the Treasury and the federal banking, thrift and credit union regulatory agencies have jointly issued a final rule to implement Section 326 of the USA PATRIOT Act. This section requires financial institutions to implement a customer identification program to verify the identity of customers opening new accounts. www.fdic.gov/news/news/financial/2003/fil0342.html


May 23, 2003 - NCUA - Payable-on-Death Accounts - www.ncua.gov/ref/opinion_letters/2003_letters/03-0413.htm

May 23, 2003 - NCUA - Permissibility of Self-Funded Short-Term Disability Plan - www.ncua.gov/ref/opinion_letters/2003_letters/03-0356.htm

May 23, 2003 - NCUA - Permissible Activities For Credit Union Service Organizations (CUSOs);03-0315  www.ncua.gov/ref/opinion_letters/2003_letters/03-0105.htm

May 23, 2003 - Equal Credit opportunity (Regulation B)- The Board of Governors of the Federal Reserve System published, on March 18, 2003, a final rule amending Regulation B, which implements the Equal Credit Opportunity Act and the related official staff commentary. www.occ.treas.gov/ftp/bulletin/2003-20.txt

May 23, 2003 - Agency Information Collection Activities Proposal to extend for three years, without revision, the following currently approved information collection: Country Exposure Report for U.S. Branches and Agencies of Foreign Banks www.federalreserve.gov/generalinfo/foia/proposedregs.cfm

May 23, 2003 - The Federal Reserve Board on Friday requested comment on a proposal to modify the method for imputing priced-service income from clearing balance investments. Federal Reserve Banks impute this income when setting fees and measuring actual cost recovery each year. www.federalreserve.gov/boarddocs/press/other/2003/20030523/default.htm

May 23, 2003 -The Federal Reserve Board on Friday announced the publication of transition rules to provide lenders with guidance on collecting and reporting information when an application for a home mortgage loan is received before--and final action is taken after--January 1, 2004. www.federalreserve.gov/boarddocs/press/bcreg/2003/20030523/default.htm 

May 23, 2003 - NCUA - New Tax Exempt Letter for Federal Credit Unions is available. - This Letter of Exemption may be completed by a federal credit union and used to inform government officials and private businesses about the tax exempt status of federal credit unions. www.ncua.gov/ref/Tax_Exempt/TaxExempt.htm

May 23, 2003 - OCC Enters into Agreements with Law Firm and Attorney That Represented First National Bank of Keystone - The Office of the Comptroller of the Currency announced today that it has entered into agreements with the law firm that represented the failed First National Bank of Keystone, Keystone, West Virginia, and with one of the firm's partners. In signing the agreements, Kutak Rock, LLP agreed to take certain actions with respect to the firm's representation of insured depository institutions, and Kutak Rock partner Michael T. Lambert agreed not to provide legal services to insured depository institutions.
Press Release: www.occ.treas.gov/newsrelease.asp?Doc=1FN1ASZH.xml
Attachment: www.occ.treas.gov/ftp/eas/ea2003-46.pdf

May 22, 2003 - OCC Releases CRA Evaluations For 37 National Banks www.occ.treas.gov/newsrelease.asp?Doc=X44MET7W.xml

May 22, 2003 - FFIEC Information Technology Examination Handbook - The Federal Financial Institutions Examination Council has issued two booklets - one, with revised guidance for evaluating risk-management processes to ensure the availability of critical financial services, and the other covering the supervision and examination of services performed for financial institutions by technology service providers. The booklets are the second and third 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/2003/fil0340.html

May 22, 2003 - Federal Reserve and Treasury Host Meeting to Discuss Credit Management - Federal Reserve Board Governor Edward M. Gramlich and Treasury Assistant Secretary for Financial Institutions Wayne A. Abernathy on Thursday convened a panel discussion on credit management with representatives of financial services organizations and companies. Treasury Deputy Assistant Secretary for Financial Education Judy Chapa moderated the discussion. www.federalreserve.gov/boarddocs/press/other/2003/20030522/default.htm

May 22, 2003 - Banking Agencies Issue Host State Loan-to-Deposit Ratios - The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency today issued the host state loan-to-deposit ratios that the banking agencies will use to determine compliance with section 109 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994. These ratios update data released on June 24, 2002.
Press Release: www.federalreserve.gov/boarddocs/press/bcreg/2003/20030522/default.htm
Press Release: www.fdic.gov/news/news/press/2003/pr4903.html
Press Release www.fdic.gov/news/news/financial/2003/fil0341.html
Press Release: www.occ.treas.gov/jointnewsrelease.asp?Doc=CQDQ0GTI.xml
Attachment: www.occ.treas.gov/ftp/release/2003-39a.pdf
Press Release: www.occ.treas.gov/ftp/bulletin/2003-19.txt

May 22, 2003 - Assessing Prospects for Economic Growth in the United States - Remarks by Governor Mark W. Olson Before the Chambers of Commerce of Bloomington, Eden Prairie, and Edina Bloomington, Minnesota May 22, 2003 www.federalreserve.gov/boarddocs/speeches/2003/20030522/default.htm

May 21, 2003 - The Federal Reserve Board on Wednesday announced it will expand the operating hours for the online Fedwire® Funds Service. www.federalreserve.gov/boarddocs/press/other/2003/20030521/default.htm

May 21, 2003 - Business Continuity Planning and Supervision of Technology Service Providers Booklets - The Federal Financial Institutions Examination Council has issued updated guidance in two booklets, one on business continuity planning, and the other on FFIEC supervision of technology service providers These booklets are the second and third in a series that will completely update and replace the 1996 FFIEC Information Systems Examination Handbook. 
Press release  www.occ.treas.gov/ftp/bulletin/2003-18.txt
Attachment  http://www.ffiec.gov/press/pr052003.htm 
Press release  www.ots.treas.gov/docs/77318.html
Press release  www.ncua.gov/news/press_releases/2003/FFIEC03-0520.htm 

May 21, 2003 - Early retirement a "disturbing characteristic" of employment trends: St. Louis Fed's Poole - Early retirement is a "disturbing characteristic" of employment trends in recent decades, according to William Poole, president of the Federal Reserve Bank of St. Louis. www.stlouisfed.org/news/releases/2003/05_19_03.html

May 21, 2003 - The economic outlook - Testimony of Chairman Alan Greenspan Before the Joint Economic Committee, U.S. Congress May 21, 2003 www.federalreserve.gov/boarddocs/testimony/2003/20030521/default.htm

May 20, 2003 - Revocation of Designation of Ukraine as Primary Money-Laundering Concern; Proposed Rule Imposing Special Measures Against the Country of Nauru, dated May 20, 2003  www.occ.treas.gov/ftp/bulletin/2003-17.txt

May 20, 2003 - The Federal Reserve Board on Tuesday announced a series of amendments to Appendix A of Regulation CC that the Board will make later in 2003 through the end of 2004 to reflect the restructuring of the Federal Reserve's check processing operations. Appendix A provides a routing number guide that helps depository institutions determine the maximum permissible hold periods for most deposited checks. www.federalreserve.gov/boarddocs/press/bcreg/2003/20030520/default.htm

May 20, 2003 - NCUA - Western Massachusetts Telephone Workers Credit Union Now Serves D. Edward Wells Federal Credit Union Members - The National Credit Union Administration announced today that the agency has placed D. Edward Wells Federal Credit Union of Springfield, Massachusetts, into liquidation and transferred member share accounts to Western Massachusetts Telephone Workers Credit Union, also of Springfield. www.ncua.gov/news/press_releases/2003/NR03-0520.htm

May 20, 2003 - Thrifts Enjoy Another Record Quarter, Earning $3.3 Billion - The Office of Thrift Supervision announced today that in the first quarter of 2003 the nation's thrift industry set records for net income, profitability, equity capital and mortgage refinancing volume. www.ots.treas.gov/docs/77317.html

May 20, 2003 - Treasury's Office of Foreign Assets Control has issued guidelines for license applications to engage in travel-related transactions involving Cuba. - On April 29, 2003, the Department of the Treasury's Office of Foreign Assets Control made available in the "Cuba Guidelines and Information" area of its Web site the attached Comprehensive Guidelines for License Applications to Engage in Travel-Related Transactions Involving Cuba. www.fdic.gov/news/news/financial/2003/fil0337.html

May 20, 2003 - General Licenses Issued Under Iraqi Sanctions and Termination of Emergency in Unita - On May 7, 2003, the Department of the Treasury's Office of Foreign Assets Control issued a series of general licenses under the Iraqi sanctions regulations, including several impacting remittances and other banking services. A copy of the general licenses and an overview of the Iraqi Sanctions Regulations - Title 31 Part 575 of the U. S. Code of Federal Regulations are attached.  www.fdic.gov/news/news/financial/2003/fil0339.html

May 20, 2003 - Treasury's Office of Foreign Assets Control has amended its list of Specially Designated Nationals and Blocked Persons by adding new names, amending the listing for one entry and removing all "Unita" entries www.fdic.gov/news/news/financial/2003/fil0338.html .

May 19, 2003 - OCC Announces Nine New Enforcement Actions and Four Terminations - The Office of the Comptroller of the Currency today announced nine new enforcement actions taken against national banks and individuals currently and formerly affiliated with national banks and four terminations of existing enforcement actions. www.occ.treas.gov/newsrelease.asp?Doc=VHV0E6TM.xml

May 19, 2003 - Blocked Property and Assets of Transporting, LLC - On May 2, 2003, the Department of the Treasury's Office of Foreign Assets Control issued at statement indicating that all property and interests in property of TRANSPORTING, LLC, wherever located, have been blocked pending investigation pursuant to the Narcotics Trafficking Sanctions Regulations, 31 C.F.R. Part 536, and Section 203 of the International Emergency Economic Powers Act, as amended, 50 U.S.C. 1702. www.fdic.gov/news/news/financial/2003/fil0334.html

May 19, 2003 - Systemwide financial education initiative announced - Federal Reserve Board Chairman Alan Greenspan will stress the benefits of economic and financial education in a public service announcement and during a visit to a Washington, D.C., school. The events are part of a broad initiative throughout the Federal Reserve System to provide consumers with more resources for making smart financial decisions. www.federalreserve.gov/boarddocs/press/other/2003/20030519/default.htm

May 19, 2003 - Expectations - Commencement address by Vice Chairman Roger W. Ferguson, Jr. At the Olin School of Business, Washington University in St. Louis, St. Louis, Missouri May 16, 2003 www.federalreserve.gov/boarddocs/speeches/2003/20030516/default.htm


May 16, 2003 - U.S. Department of Treasury FinCEN Advisories 16W and 31W - This advisory letter revises the list of countries detailed in OCC Advisory Letter (AL) 2002-10, "U.S. Department of Treasury FinCEN advisories 20A, 22A, and 25A," dated December 9, 2002 (see also AL 2002-7, AL 2002-5, AL 2002-2, AL 2001-7, and AL 2000-8).  www.occ.treas.gov/ftp/advisory/2003-4.pdf

May 15, 2003 - Job Access for Inner-City Workers Examined - It's hard for inner-city workers, particularly minorities, to find work close to home, according to research presented in April at a Chicago Fed conference attended by more than 90 academics and policy leaders. www.chicagofed.org/newsandevents/pressreleases/2003/pr05152003.cfm

May 15, 2003 - NCUA to Offer Workshop for Credit Unions on Service to Latino Community - The workshop, entitled "Making the Latino Connection: A PALS Workshop for Credit Unions," offers credit union representatives an opportunity to share ideas and methods for serving members of the Latino community within their fields of membership. www.ncua.gov/news/press_releases/2003/NR03-0515.htm

May 15, 2003 - NCUA - Updated Chartering and Field of Membership Manual, IRPS 03-1 - www.ncua.gov/ref/charter_manual/charter_manual.html

May 15, 2003 - NCUA - Updated FOMIA Application is now available - This FOM Internet Application is for use by NCUA member credit unions only, not the general public. This system can be used for adding associational and/or occupational groups of 2,999 potential members or less as well as the non-natural person corporate account associated with that group. www.ncua.gov/org/NCUAgovLink.htm

May 15, 2003 - Industrial Production And Capacity Utilization - Industrial production fell 0.5 percent in both April and March. At 109.7 percent of its 1997 average, output in April was 0.4 percent lower than its level in April 2002. Manufacturing output decreased 0.6 percent in April and was 1.9 percent below the recent high recorded in August 2002. Output at utilities ticked up 0.1 percent, and production in mining climbed 0.4 percent. Capacity utilization for total industry dropped to 74.4 percent, a rate nearly 0.5 percentage point below that of March and almost 7 percentage points below its 1972-2002 average. www.federalreserve.gov/releases/g17/current/default.htm

May 14, 2003 - New Research Looks at Manufacturing Employment - Although weakness in the manufacturing sector has clearly contributed to recent cutbacks in employment, manufacturing job growth has been stagnant for much of the last half century, according to research by Chicago Fed Senior Economist and Economic Advisor William Strauss and Research Intern Scott Walster in the June special issue of Chicago Fed Letter. www.chicagofed.org/newsandevents/pressreleases/2003/pr05142003.cfm

May 14, 2003 Chief Counsel Julie L. Williams Provides Historical Perspective On Issues Facing the National Banking System  
Press Release:  www.occ.treas.gov/newsrelease.asp?Doc=YZISD9QN.xml
Attachment:  www.occ.treas.gov/ftp/release/2003-36a.pdf

May 14, 2003 - NCUA Disaster Assistance Activated For Tornadoes In Alabama, Kansas, Missouri, Oklahoma And Tennessee - The National Credit Union Administration has activated its disaster relief policy to assist credit unions and members in counties eligible for aid in Alabama, Kansas, Missouri, Oklahoma and Tennessee, where offices and homes were destroyed by multiple tornadoes in the last two weeks. www.ncua.gov/news/press_releases/2003/NR03-0514-2.htm 

May 14, 2003 - Bank Enterprise Awards Are Being Offered to Eligible FDIC-Insured Institutions Making Grants, Investments and Deposits in and Loans to Community Development Financial Institutions - The Community Development Financial Institutions Fund is offering monetary incentives through its Bank Enterprise Award Program to certain eligible FDIC-insured institutions that comply with the program's requirements and submit an application for consideration. Applications are due on June 23, 2003. www.fdic.gov/news/news/financial/2003/fil0333.html

May 14, 2003 - U.S. Unveils New $20 Note With Background Colors The New Color of Money: Safer, Smarter, More Secure. - U.S. government officials today unveiled a new $20 note design with enhanced security features and subtle background colors. The new design is part of an ongoing effort to stay ahead of the counterfeiting of U.S. currency. www.federalreserve.gov/boarddocs/press/other/2003/20030514/default.htm

May 13, 2003 - Fraudulent Cashier's and Official Checks of Financial Institutions Used in Internet Purchases of Goods  - This issuance notifies national banks of schemes to defraud consumers in connection with legitimate sales of goods, primarily over the Internet. If one of the described instruments is presented to you, hold it and call your local FBI office. www.occ.treas.gov/ftp/alert/2003-8.txt

May 13, 2003 - The Federal Reserve Board on Tuesday announced its approval of the application and notice by BB&T Corporation, Winston-Salem, North Carolina, to merge with First Virginia Banks, Inc., Falls Church, Virginia, and thereby acquire its banking and nonbanking subsidiaries. www.federalreserve.gov/boarddocs/press/orders/2003/20030513/default.htm

May 13, 2003 - Remarks by Chairman Alan Greenspan Redesigned U.S. $20 note At the Bureau of Engraving and Printing, Washington, D.C. May 13, 2003 www.federalreserve.gov/boarddocs/speeches/2003/20030513/default.htm

May 13, 2003 - The Federal Reserve Board today announced the termination of the following enforcement action: U.S. Trust Corporation and the United States Trust Company of New York New York, New York Cease and Desist Order dated July 11, 2001-- terminated May 13, 2003 www.federalreserve.gov/boarddocs/press/Enforcement/2003/20030513/default.htm

May 12, 2003 - Community Banking Conference Summarized in Recent Chicago Fed Letter - The number and market share of community banks in the U.S. continue to decline despite their advantages at generating local market information, building personal financial relationships, and lending to small businesses, according to the participants at a conference held recently by the Federal Reserve Bank of Chicago. www.chicagofed.org/newsandevents/pressreleases/2003/pr05122003.cfm

May 12, 2003 - Customer Identification Programs for banks, savings associations and credit unions - www.ncua.gov/news/proposed_regs/31CFRPart103-FinalRule.pdf

May 12, 2003 - FDIC Approves The Assumption Of The Insured Deposits Of The First National Bank Of Blanchardville, Blanchardville, Wisconsin  - The Federal Deposit Insurance Corporation (FDIC) has approved the assumption of the insured deposits of the First National Bank of Blanchardville, Blanchardville, Wisconsin, by The Park Bank, Madison, Wisconsin. www.fdic.gov/news/news/press/2003/pr4803.html


May 9, 2003 - NCUA - Michael J. McKenna named NCUA Deputy Executive Director - Senior Staff Attorney Michael J. McKenna has been selected to serve as NCUA's deputy executive director responsible for assisting the executive director administer the day-to-day operations of the agency's entire staff effective May 15, 2003. www.ncua.gov/news/press_releases/2003/NR03-0508.htm

May 9, 2003 - OTS Helps Prepare Thrifts to Comply with Patriot Act Rules - The Office of Thrift Supervision today issued a checklist for thrifts to use to help them comply with the provisions of new Patriot Act rules dealing with customer identification programs that were published by the Treasury Department in the May 9, 2003, issue of the Federal Register. Customer identification programs must comply with the new rule by October 1, 2003
Press release:   www.ots.treas.gov/docs/77316.html
Checklist:  http://www.ots.treas.gov/docs/48931.pdf 

May 9, 2003 - FDIC Announces Receivership Of First National Bank Of Blanchardville, Blanchardville, Wisconsin  - The First National Bank of Blanchardville, Blanchardville, Wisconsin, was closed today by the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation was named receiver.  www.fdic.gov/news/news/press/2003/pr4703.html

May 9, 2003 - Senior Loan Officer Opinion Survey on Bank Lending Practices - The April 2003 Senior Loan Officer Opinion Survey on Bank Lending Practices focused on changes in the supply of and demand for bank loans to businesses and households over the past three months. In addition, the survey contained two sets of supplementary questions that focused on the reasons for recent changes in the credit quality of business and commercial real estate loans, as well as changes in lending terms for commercial real estate loans. www.federalreserve.gov/BoardDocs/snloansurvey/200305/default.htm

May 8, 2003 - Articles from the Federal Reserve Bulletin May 2003 www.federalreserve.gov/pubs/bulletin/2003/03bulletin.htm#may

May 8, 2003 - The OCC has updated two annual publications: "Significant Precedents," a compilation of precedential legal determinations, corporate licensing decisions and community development investments permitted by the OCC in 2002, and "Activities Permissible for a National Bank," a cumulative compilation of significant precedents to date. 
Significant Precedents:  www.occ.treas.gov/sigpre.pdf 
Activities Permissible for a National Bank:  www.occ.treas.gov/corpapps/BankAct.pdf

May 8, 2003 - Changes to Part 5 - Interim Rule - Electronic Filings The interim rule amends 12 CFR 5.2 to expressly provide that the OCC may permit national banks to make any class of filings electronically and refers national banks to the Comptroller's Licensing Manual to find information about the filings that are available for electronic submission. 
Press release:  www.occ.treas.gov/ftp/bulletin/2003-16.txt
Attachment:  http://www.occ.treas.gov/fr/fedregister/68fr17890.pdf 

May 8, 2003 - Minutes of the Federal Open Market Committee March 18, 2003 www.federalreserve.gov/fomc/minutes/20030318.htm

May 8, 2003 - Remarks by Chairman Alan Greenspan Corporate governance At the 2003 Conference on Bank Structure and Competition, Chicago, Illinois www.federalreserve.gov/boarddocs/speeches/2003/20030508/default.htm

May 7, 2003 - Statement Of Chairman Donald Powell Following The  FDIC Board Of Directors Meeting May 7, 2003  http://www.fdic.gov/news/news/press/2003/pr4603.html

May 7, 2003 - FDIC Reports First Quarter 2003 Financial Results For Bank And Thrift Insurance Funds - The Federal Deposit Insurance Corporation today announced that the Bank Insurance Fund reported comprehensive income (net income plus current period unrealized gains/losses on available-for-sale securities) of $332 million for the three months ending March 31, 2003, compared to $258 million for the same period last year. www.fdic.gov/news/news/press/2003/pr4503.html

May 7, 2003 - Proposal for Comment - Agency Information Collection Activities Proposal to extend for three years without revision the following currently approved information collection: Foreign Branch Report of Condition www.federalreserve.gov/generalinfo/foia/proposedregs.cfm

May 7, 2003 - Corporate Governance - Remarks by Governor Susan Schmidt Bies At the Institute of Internal Auditors Conference, Philadelphia, Pennsylvania May 7, 2003 - www.federalreserve.gov/boarddocs/speeches/2003/20030507/default.htm

May 6, 2003 - The OCC, OTS, and FRB jointly issued an Interagency Statement on the Application of Recent Corporate Governance Initiatives to Non-Public Banking Organizations. The interagency statement was prepared in response to questions the agencies have received concerning whether they intend to require banking organizations that are not public companies to comply with the provisions of the Sarbanes-Oxley Act or the proposed NYSE and NASDAQ listing standards. www.occ.treas.gov/ftp/release/SarbanesOxley-InteragencyStatement.pdf

May 6, 2003 - The OCC has entered into consent orders dated April 11, 2003 with National Bank of the Great Lakes, Elmhurst, Illinois and Saks Incorporated, a Tennessee Corporation, Birmingham, Alabama.
National Bank of the Great Lakes:  www.occ.treas.gov/ftp/eas/ea2003-38.pdf
Saks Incorporated:  www.occ.treas.gov/ftp/eas/ea2003-40.pdf

May 6, 2003 - Regulatory Relief - The Federal Deposit Insurance Corporation has announced a series of steps intended to facilitate the process of rebuilding in areas damaged by recent tornadoes. www.fdic.gov/news/news/financial/2003/fil0332.html

May 6, 2003 - FDIC Issues Removal And Prohibition Order And Civil Money Penalty Against Former Iowa Banker - The Federal Deposit Insurance Corporation has issued a removal and prohibition order and imposed a civil money penalty against Daniel J. Schmitt.  www.fdic.gov/news/news/press/2003/pr4403.html

May 6, 2003 - FDIC Imposes Civil Money Penalty Against Illinois Banker - The Federal Deposit Insurance Corporation (FDIC) has imposed a civil money penalty against Robert G. Hershenhorn. www.fdic.gov/news/news/press/2003/pr4303.html

May 6, 2003 - 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 2003. www.fdic.gov/news/news/press/2003/pr4203.html

May 6, 2003 - The Federal Open Market Committee decided to keep its target for the federal funds rate unchanged at 1-1/4 percent. www.federalreserve.gov/boarddocs/press/monetary/2003/20030506/default.htm

May 5, 2003 - Consumer Information - Web site providing information on consumer vehicle leasing updated and expanded www.federalreserve.gov/pubs/leasing/

May 5, 2003 - NCUA - Letter to Federal Credit Unions - Credit Union Development Initiatives; 03-FCU-04 www.ncua.gov/ref/letters/2003/03-FCU-04.pdf

May 5, 2003 - NCUA - Credit Union Charter Conversion Approved - Golden West Credit Union in Ogden, UT Completes Conversion to FCU - www.ncua.gov/news/press_releases/2003/NR03-0505.htm

May 5, 2003 - Worthless Sight Drafts, Bills of Exchange, Due Bills and Redemption Certificates - OCC Alert 99-10, dated August 6, 1999, warned about the circulation of worthless instruments entitled "Sight Draft."  These items falsely state that they are payable through the U.S. Treasury and continue to be presented for payment at banks and other businesses throughout the United States. www.occ.treas.gov/ftp/alert/2003-7.txt

May 5, 2003 - George Scalise Named Chairman And Sheila Harris Named Deputy Chairman Of The Federal Reserve Bank Of San Francisco - The Federal Reserve Board of Governors in Washington D.C. has designated George Scalise, President of the Semiconductor Industry Association, as Chairman of the Board and Sheila Harris, Director of Arizona's Department of Housing, as Deputy Chairman of the Federal Reserve Bank of San Francisco, effective May 1. www.frbsf.org/news/releases/2003/0505_1.html

May 5, 2003 - Unveiling of the redesigned $20 bill, which will be released in late 2003 - www.stlouisfed.org/news/releases/2003/05_05_03.htm

May 5, 2003 - Statement on Application of Recent Corporate Governance Initiatives to Non-Public Banking Organizations - The Federal Reserve Board, the Office of the Comptroller of the Currency, and the Office of Thrift Supervision (the agencies) issued the attached Statement on Application of Recent Corporate Governance Initiatives to Non-Public Banking Organizations on May 5, 2003. www.federalreserve.gov/boarddocs/srletters/2003/sr0308.htm

May 5, 2003 - Regulators Announce Termination of Enforcement Orders Against Daiwa Bank - Federal and state banking regulators on Monday announced the termination of two enforcement orders issued in 1995 against Daiwa Bank, Limited, of Osaka, Japan. www.federalreserve.gov/boarddocs/press/Enforcement/2003/20030505/default.htm


May 2, 2003 - NCUA - Credit Union Charter Conversion Approved - Mountain America Credit Union in Salt Lake City, UT Completes Conversion to FCU www.ncua.gov/news/press_releases/2003/NR03-0502-2.htm

May 2, 2003 - NCUA - Matz Announces Creation of Small Credit Union Working Group - National Credit Union Administration (NCUA) Board Member Debbie Matz today announced the creation of an internal working group to focus on small credit union issues.  “Small credit unions, those under $10 million, are the icons of the credit union movement; they are what many people think of when they think of credit unions.  They also represent over 50 percent of all federally insured credit unions. www.ncua.gov/news/press_releases/2003/NR03-0502.htm

May 2, 2003 - Foreign Branch Report of Condition FFIEC 030 www.ffiec.gov/PDF/FFIEC_forms/FFIEC030_200106_inst.pdf

May 2, 2003 - Chairman Donald E. Powell Federal Deposit Insurance Corporation Remarks Prepared For Delivery To The Nebraska Bankers Association May 2, 2003 www.fdic.gov/news/news/press/2003/pr4003.html

May 1, 2003 - NCUA - America First Credit Union in Ogden, Utah Completes Conversion To Federal Credit Union Charter - The National Credit Union Administration Region VI office today announced that it has approved the charter conversion of America First Credit Union of Ogden, Utah from a Utah state credit union charter to a federal charter under the statutes of the Federal Credit Union Act and all applicable NCUA rules and regulations. www.ncua.gov/news/press_releases/2003/NR03-0501.htm

May 1, 2003 - The Federal Reserve Board on Thursday announced the execution of a Written Agreement by and among The First State Bank of West Manchester, West Manchester, Ohio, the Federal Reserve Bank of Cleveland, and the Ohio Division of Financial Institutions. www.federalreserve.gov/boarddocs/press/Enforcement/2003/20030501/default.htm

May 1, 2003 - Regional Growth in Worker Quality Discussed in Chicago Fed Letter  - The Midwest will have to attract more workers with post-secondary education to continue to be near the national average of labor quality, conclude Chicago Fed Economic Advisor Daniel Aaronson and Vice President Daniel Sullivan in the latest Chicago Fed Letter. www.chicagofed.org/newsandevents/pressreleases/2003/pr05012003.cfm


PLEASE NOTE:  Some of the above links may not function properly because the regulatory agency has changed the URL.  Please e-mail us at examiner@yennik.com if we can be of assistance.  

Back Button

Return to the Community Banker Home Page

Company Information
Yennik, Inc.

4409 101st Street
Lubbock, Texas 79424
Office 806-798-7119


Please visit our other web sites:
VISTA penetration-vulnerability testing
The Community Banker - Bank FFIEC & ADA Web Site Audits
Credit Union FFIEC & ADA Web Site Audits - Bank Auditing Services
US Banks on the Internet  
US Credit Unions on the Internet

All rights reserved; Our logo is registered with the United States Patent and Trademark Office.
Terms and Conditions, Privacy Statement, © Copyright Yennik, Incorporated