Bank
Regulatory News
November 2004
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November 30, 2004 - FDIC Issues First
Quarter 2005 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 first quarter of
2005.
www.fdic.gov/news/news/press/2004/pr11804.html
November 30, 2004 - Statistical Release - Large Commercial Banks - Insured
U.S.-Chartered Commercial Banks That Have Consolidated Assets of $300
Million or More, Ranked by Consolidated Assets as September 30, 2004
www.federalreserve.gov/Releases/lbr/current/default.htm
November 29, 2004 - Arizonan Joins San Francisco Federal Reserve Bank
Advisory Council - The Federal Reserve Bank of San Francisco announced today
that Stephen M. Brophy, a rancher, farmer, and land investor from Arizona,
has accepted an invitation to join the Bank's Advisory Council.
www.frbsf.org/news/releases/2004/1129.html
November 29, 2004 - NCUA - Letter to Corporate Credit Unions 2004-05
-Business Continuity Planning and Business Critical Processes - The purpose
of this letter is to provide corporate credit unions guidance regarding
business continuity planning
www.ncua.gov/CorporateCU/CorpLetters/2004/2004-05.pdf
November 29, 2004 - 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/default.htm
_________________
November 26, 2004 - Unauthorized
Banking: Atlantic Standard Chartered Bank & Trust, N.A. Internet Bank - The
OCC has been advised that Atlantic Standard Chartered Bank & Trust, N.A.
Internet Bank is actively engaged in offering a full range of deposit and
banking services via the Internet. The OCC has not granted a charter to this
organization, nor is it authorized to conduct the business of banking or
provide banking-related services.
www.occ.treas.gov/ftp/alert/2004-24.txt
November 26, 2004 - Legal Interpretations - (May 12, 2003) The application
of Regulation T to trading in a cash account; and (April 11, 2003) the
possible status of a firm as an "exempted borrower, " as defined in
Regulation T or Regulation U
Response:
www.federalreserve.gov/boarddocs/legalint/marginrequirements/2003/20030512/
Response:
www.federalreserve.gov/boarddocs/legalint/marginrequirements/2003/20030411/
November 26, 2004 - Legal Interpretations - (March 22, 2002) the proper
recording of repurchase agreements involving Treasury, exempted, or any
other securities entitled to good faith loan value under Regulation T
www.federalreserve.gov/boarddocs/legalint/marginrequirements/2002/20020322/
November 26, 2004 - The Federal Reserve Board on Friday announced the
approval of proposed revisions to its Policy on Payments System Risk
addressing risk management in payments and securities settlement systems.
www.federalreserve.gov/boarddocs/press/other/2004/20041126/default.htm
November 24, 2004 - Payment Systems - Quarterly Fedwire data through 2004:Q3
- Data on Funds Service, Securities Service, and National Settlement Service
http://www.federalreserve.gov/paymentsystems/fedwire/wirequarterly.htm
November 24, 2004 - Maria Gerwing Hampton to Head Louisville Branch of St.
Louis Fed - Maria Gerwing Hampton of Louisville has been appointed Vice
President and Senior Branch Executive of the Louisville Branch of the
Federal Reserve Bank of St. Louis.
www.stlouisfed.org/news/releases/2004/11_24_04.html
November 24, 2004 - Deposit Insurance Assessments Changes To Certified
Statement Process - The FDIC Board of Directors has approved changes to the
assessment certified statement rule (12 CFR § 327.2) that modernize and
simplify the regulations. Under the amended rule, insured institutions are
required to obtain assessment invoices online through FDICconnect. In
addition, correct certified statements will not be signed and returned to
the FDIC.
www.fdic.gov/news/news/financial/2004/fil12504.html
November 23, 2004 - Counterfeit Cashier's Checks: Riverside National Bank
Cashier's Checks - This issuance notifies national banks and regulatory
agencies that the OCC has been informed that counterfeit cashier's checks
issued in the name of Riverside National Bank are being used in the United
States and abroad.
www.occ.treas.gov/ftp/alert/2004-23.txt
November 23, 2004 - Wells Fargo Chairman and CEO Richard Kovacevich to
Represent San Francisco Federal Reserve District In Washington D.C. -
Directors of the Federal Reserve Bank of San Francisco announced today that
Richard M. Kovacevich, chairman and chief executive officer of Wells Fargo &
Company, was selected to serve as the Twelfth District representative on the
Federal Advisory Council in Washington, D.C. for 2005.
www.frbsf.org/news/releases/2004/1123.html
November 23, 2004 - Annual Report on Indebtedness of Executive Officers and
Principal Shareholders to Correspondent Banks - Enclosed is a copy of the
Federal Financial Institutions Examination Council 004 report that may be
used to comply with the reporting requirements of Title VIII of the
Financial Institutions Regulatory and Interest Rate Control Act of 1978.
www.fdic.gov/news/news/financial/2004/fil12404.html
November 23, 2004 - Bank and Thrift Income Rebounds to New Record in Third
Quarter of 2004 - Commercial banks and savings institutions insured by the
Federal Deposit Insurance Corporation reported record net income of $32.5
billion for the third quarter of 2004, surpassing the previous quarterly
high of $31.8 billion in the first quarter of the year.
www.fdic.gov/news/news/press/2004/pr11704.html
November 23, 2004 - The Federal Reserve Board on Tuesday announced its
approval of the notice by RBC Centura Bank, Rocky Mount, North Carolina, to
establish a branch at 4221 W. Boy Scout Boulevard, Suite 190, Tampa,
Florida.
www.federalreserve.gov/boarddocs/press/orders/2004/20041123/default.htm
November 22, 2004 - NCUA - Statement of Chairman JoAnn Johnson Regarding
Passage of the FY 2005 Omnibus Appropriations Bill
www.ncua.gov/news/press_releases/2004/St04-1122.htm
November 22, 2004 - Civil Money Penalty Inflation-adjustment Amendment - On
November 10, 2004, the Office of the Comptroller of the Currency published
in the Federal Register the attached final rule amending its rules of
practice and procedure to adjust the maximum amount of each civil money
penalty within its jurisdiction.
www.occ.treas.gov/ftp/bulletin/2004-53.txt
November 22, 2004 - NCUA Chairman Organizes Working Group to Enhance
Communication and Explore Opportunities For Community Development Credit
Unions - Working Group Comprised of NCUA and Credit Union Leaders- To Focus
on "Uniqueness of Examinations and Understanding Challenges"
http://www.ncua.gov/news/press_releases/2004/NR04-1122-2.htm
November 22, 2004 - NCUA Reports Third Quarter 2004 Data - Credit Unions
Continue Steady and Solid Growth; Expand Loan Growth
www.ncua.gov/news/press_releases/2004/NR04-1122.htm
_______________
November 19, 2004 - NCUA - Service Uninterrupted
as Brooklyn Credit Union is Placed into Conservatorship - The
National Credit Union Administration today assumed control of
service and operations at Midwood Federal Credit Union of
Brooklyn, NY.
www.ncua.gov/news/press_releases/2004/NR04-1119.htm
November 19, 2004 - OTS Announces Two New Burden Reduction
Initiatives: Final EGRPRA Rule and CRA Streamlining Proposal - The
Office of Thrift Supervision announced today the publication of an
interim final rule, pursuant to the Economic Growth and Regulatory
Paperwork Reduction Act, which will reduce regulatory burden on
savings associations by updating and revising various application
and reporting requirements.
www.ots.treas.gov/docs/7/77449.html
November 19, 2004 - The Federal Reserve Board announced Friday
that it will publish the annual revision to the G.17 statistical
release, Industrial Production and Capacity Utilization, on
Wednesday, December 22 at 10 a.m. EST.
www.federalreserve.gov/boarddocs/press/other/2004/20041119/default.htm
November 19, 2004 - Chairman Alan Greenspan - Panel discussion:
Euro in Wider Circles At the European Banking Congress 2004,
Frankfurt, Germany
www.federalreserve.gov/boarddocs/speeches/2004/20041119/default.htm
November 18, 2004 - NCUA - Report of Actions Taken at the November
18, 2004 NCUA Board Meeting
www.ncua.gov/NCUABoard/board_reports/board_reports.html
November 18, 2004 - NCUA - Final Regulation - Disposal of Consumer
Information - The NCUA Board is adopting a final rule to implement
section 216 of the Fair and Accurate Credit Transactions Act of
2003 by amending security program regulations and NCUA's
Guidelines for Safeguarding Member Information and establishing a
section in new part 717. The final rule generally requires federal
credit unions to develop, implement, and maintain appropriate
measures to properly dispose of consumer information derived from
consumer reports to address the risks associated with identity
theft.
www.ncua.gov/RegulationsOpinionsLaws/RecentFinalRegs/F-717-83.pdf
November 18, 2004 - NCUA - Proposed Regulation - Loans to Members
and Lines of Credit to Members - NCUA is proposing to amend three
subsections of its lending rule to incorporate legal
interpretations previously issued by its Office of General Counsel
regarding permissible maturities for certain types of loans and
the effect of partial government guarantees.
www.ncua.gov/RegulationsOpinionsLaws/proposed_regs/P-701-21.pdf
November 18, 2004 - OCC Announces New Electronic Interpretations
and Actions - November 2004
www.occ.treas.gov/interp/nov04/intnov04.htm
November 18, 2004 - OCC Releases CRA Evaluations For 24 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 October 15,
2004 through November 14, 2004.
www.occ.treas.gov/scripts/newsrelease.aspx?Doc=3EEYSVVA.xml
November 18, 2004 - FRB Proposals for Comment - Proposal to
approve the extension for three years, without revision, of the
Home Mortgage Disclosure Act Loan/Application Register.
www.federalreserve.gov/generalinfo/foia/proposedregs.cfm
November 18, 2004 - The Federal Reserve Board on Thursday released
the minutes of its discount rate meetings from August 23 through
September 21, 2004.
www.federalreserve.gov/boarddocs/press/monetary/2004/20041118/default.htm
November 18, 2004 - The Federal Reserve Board on Thursday
announced the issuance of a Cease and Desist Order against
Ameribanc Holdings, Inc., Durango, Colorado, a bank holding
company, and its subsidiary bank, the Bank of Durango, Durango,
Colorado.
www.federalreserve.gov/boarddocs/press/Enforcement/2004/20041118/default.htm
November 18, 2004 - NCUA Board Approves 2005 Budget - Budget
Decreased, $9 million returned to federal credit unions, and
overhead transfer rate is lowered
www.ncua.gov/news/press_releases/2004/NR04-1118.pdf
November 18, 2004 - Reports on the disclosure of fees that a
depository institution may impose when a customer chooses to
secure a point-of-sale debit transaction by providing a personal
identification number. Discusses the prevalence of PIN fees; the
degree of compliance by depository institutions with current
disclosure requirements; the adequacy of existing disclosures and
the likely benefits and costs of new requirements for disclosure
statements; and the feasibility of real-time disclosure.
www.federalreserve.gov/boarddocs/rptcongress/posdebit2004.pdf
November 18, 2004 - The Federal Reserve Board on Thursday
announced the names of six new members of its Thrift Institutions
Advisory Council and designated a new president and vice president
of the Council for 2005.
www.federalreserve.gov/boarddocs/press/other/2004/20041118/default.htm
November 18, 2004 - Governor Susan Schmidt Bies - Fair Value
Accounting To the International Association of Credit Portfolio
Managers General Meeting, New York, New York.
www.federalreserve.gov/boarddocs/speeches/2004/20041118/default.htm
November 17, 2004 - Metcalfe Reappointed Chair, Jackson
Reappointed Deputy Chair of St. Louis Fed Board - The Board of
Governors of the Federal Reserve System in Washington, D.C., has
reappointed Walter L. Metcalfe, Jr., as chairman and Gayle P.W.
Jackson as deputy chairman of the board of directors of the
Federal Reserve Bank of St. Louis.
www.stlouisfed.org/news/releases/2004/11_17_04.htm
November 17, 2004 - Herbert A. Biern - Senior Associate Director,
Division of Banking Supervision and Regulation The Bank Secrecy
Act and the USA Patriot Act Before the Committee on International
Relations, U.S. House of Representatives
www.federalreserve.gov/boarddocs/testimony/2004/20041117/default.htm
November 17, 2004 - Health Savings Accounts - The purpose of this
regulatory alert is to inform credit union officials about the
availability of final forms that may be used to establish and
administer heath savings accounts for members.
www.ncua.gov/reg_alerts/2004/04-RA-13.pdf
November 17, 2004 - Thrift Industry Maintains Earnings And
Profitability For Third Quarter - The Office of Thrift Supervision
announced today that the nation's thrift industry sustained strong
earnings and profitability, solid loan growth, and healthy asset
quality for the third quarter.
www.ots.treas.gov/docs/7/77448.html
November 17, 2004 - Annual Audit and Reporting Requirements
Internal Control Attestation Standards for Independent Auditors -
The FDIC is providing guidance on the internal control attestation
standards that auditors of insured institutions with $500 million
or more in total assets should follow to comply with the FDIC's
audit and reporting requirements.
www.fdic.gov/news/news/financial/2004/fil12204.html
November 17, 2004 - Statistical Release - G.17 Industrial
Production - Industrial production rose 0.7 percent in October
after having edged up 0.1 percent in September. At 117.6 percent
of its 1997 average, the October index was 5.2 percent higher than
its year-ago level. Manufacturing output increased 0.7 percent in
October, and output gains were broadly based across industries.
www.federalreserve.gov/Releases/G17/Current/default.htm
November 16, 2004 - Electronic Fund Transfers: Proposed Amendments
to Regulation E Concerning Payroll Cards - This bulletin transmits
proposed amendments to Regulation E concerning payroll cards.
Under these amendments, the term "account" would include a payroll
card account; additional guidance on electronic check conversions
would be provided; banks would be allowed to issue multiple
replacement access cards; the rules concerning preauthorized EFTs
would be amended; the "four walls rule" would be clarified; and,
if an ATM operator does not always charge for a particular
transaction on its ATMs, it would be allowed to provide notice on
these ATMs that a fee "may be" charged.
Press Release:
www.occ.treas.gov/ftp/bulletin/2004-52.txt
Attachment:
www.occ.treas.gov/fr/fedregister/69fr55996.pdf
November 16, 2004 - FDIC Reports Third Quarter 2004 Financial
Results For Bank and Thrift Insurance Funds - The Federal Deposit
Insurance Corporation today announced that the Bank Insurance Fund
reported comprehensive income (net income plus current period
unrealized gains/losses on available-for-sale securities) of $685
million for the nine months ending September 30, 2004, compared to
$1.4 billion for the same period last year.
www.fdic.gov/news/news/press/2004/pr11604.html
November 16, 2004 - Computer Software Due Diligence Guidance on
Developing an Effective Computer Software Evaluation Program to
Assure Quality and Regulatory Compliance - The FDIC is issuing
guidance to financial institutions on performing proper due
diligence when selecting computer software or a service provider.
This due diligence includes making sure that the software or
service provider is compliant with applicable laws, including the
Bank Secrecy Act, which includes the USA PATRIOT Act.
www.fdic.gov/news/news/financial/2004/fil12104.html
November 16, 2004 - FRB Statistical Release - U.S. Reserve Assets;
and Foreign Official Assets Held at Federal Reserve Banks.
www.federalreserve.gov/releases/bulletin/1004assets.htm
November 15, 2004 - NCUA General Counsel Opinion 04-1039 -
Automated Teller Machine Services, Inc.
www.ncua.gov/RegulationsOpinionsLaws/opinion_letters/2004/04-1039.pdf
November 15, 2004 - NCUA General Counsel Opinion 04-0713 - Meaning
of the Phrase "Empowered to Grant" in NCUA regulations
www.ncua.gov/RegulationsOpinionsLaws/opinion_letters/2004/04-0713.pdf
November 15, 2004 - NCUA - Small Credit Union Workshop December 9,
2004 in Columbus, Ohio
www.ncua.gov/CreditUnionDevelopment/SCUP/R3/R3Events.htm
November 15, 2004 - NCUA Announces Executive Changes - Baylen to
retire as Sarrazin and Lee assume new roles
www.ncua.gov/news/press_releases/2004/NR04-1115-2.htm
November 15, 2004 - NCUA - Asset Growth Falls Sharply; Matz Urges
Loan Officers to Offer Products that will Attract New Members -
Speech to CUNA Lending Council suggests ways to reverse declining
asset growth
www.ncua.gov/news/press_releases/2004/NR04-1115.htm
November 15, 2004 - OCC Announces Ten Enforcement Actions and Four
Terminations - The Office of the Comptroller of the Currency today
announced ten 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/ftp/release/2004-104.htm
November 15, 2004 - FDIC Board Votes to Maintain Premium Rates for
Banks and Thrifts - The Board of Directors of the Federal Deposit
Insurance Corporation today voted to keep the assessment rates
charged to insured banks and savings associations unchanged for
the first half of 2005.
www.fdic.gov/news/news/press/2004/pr11504.html
November 15, 2004 - Banking Structure - Financial Holding
Companies - Under the Bank Holding Company Act, bank holding
companies may elect to be financial holding companies.
www.federalreserve.gov/generalinfo/fhc/default.htm
November 15, 2004 - FRB Surveys and Reports - Senior Loan Officer
Opinion Survey on Bank Lending Practices - The October 2004 Senior
Loan Officer Opinion Survey on Bank Lending Practices addressed
changes in the supply of, and demand for, bank loans to businesses
and households over the past three months.
www.federalreserve.gov/boarddocs/snloansurvey/200410/default.htm
November 15, 2004 - FRB Governor Mark W. Olson - Recent Economic
Experience and Outlook At the Fraser Institute Roundtable
Luncheon, Toronto, Canada.
www.federalreserve.gov/boarddocs/speeches/2004/20041115/default.htm
November 15, 2004 - The Federal Reserve Board on Monday announced
the issuance of a consent Order of Assessment of a Civil Money
Penalty against the Cumberland Bank, Franklin, Tennessee, a state
member bank. Cumberland Bank, without admitting to any
allegations, consented to the issuance of the Order in connection
with its alleged violations of the Board's Regulations
implementing the National Flood Insurance Act.
www.federalreserve.gov/boarddocs/press/Enforcement/2004/20041115/default.htm
November 15, 2004 - The Federal Reserve Board on Monday announced
the issuance of a consent Order of Assessment of a Civil Money
Penalty against the Five Points Bank, Grand Island, Nebraska, a
state member bank. Five Points Bank, without admitting to any
allegations, consented to the issuance of the Order in connection
with its alleged violations of the Board's Regulations
implementing the National Flood Insurance Act.
www.federalreserve.gov/boarddocs/press/Enforcement/2004/200411152/default.htm
_____________________________November 12, 2004 - NCUA - Matz Announces PALS Workshop to Help
Credit Unions Serve Everyone in their Field of Membership
www.ncua.gov/news/press_releases/2004/NR04-1112.htm
November 12, 2004 - Bank Supervision Operations: Enforcement Action Policy -
This bulletin transmits Supplement 1 to the OCC's policies and procedures
manual, PPM 5310-3 (REV), dated July 30, 2001, which was publicly released
by the OCC in bulletin OCC 2002-38.
Press Release:
www.occ.treas.gov/ftp/bulletin/2004-51.txt
Attachment:
www.occ.treas.gov/ftp/bulletin/2004-51a.pdf
November 12, 2004 - Federal Open Market Committee - Minutes of the September
21, 2004 meeting
www.federalreserve.gov/fomc/minutes/20040921.htm
November 12, 2004 - The Federal Reserve Board on Friday announced its
approval of the application filed by First National Bank Group, Inc.,
Edinburg, Texas, to acquire up to 14.99 percent of the voting shares and
control of Alamo Corporation of Texas and its subsidiary bank, Alamo Bank of
Texas, both in Alamo, Texas.
www.federalreserve.gov/boarddocs/press/orders/2004/20041112/default.htm
November 12, 2004 - The Federal Reserve Board on Friday approved an action
by the Board of Directors of the Federal Reserve Bank of Dallas increasing
the discount rate at the bank from 2-3/4 percent to 3 percent, effective
immediately.
www.federalreserve.gov/boarddocs/press/monetary/2004/20041112/default.htm
November 10, 2004 - Chairman And Deputy Chairman Named For Kansas City Fed -
Robert A. Funk, Chairman of the Board and Chief Executive Officer, Express
Personnel Services International, Oklahoma City, Okla., has been named
chairman of the board of the Federal Reserve Bank of Kansas City for 2005 by
the Board of Governors of the Federal Reserve System in Washington, D.C.
Funk has served as deputy chairman since 2003.
www.kc.frb.org/pubaffrs/pressrel/pr04-12.htm
November 10, 2004 - NCUA - Agenda for the November 18, 2004 NCUA Board
Meeting
www.ncua.gov/NCUABoard/Calendars/board_calendar/ag04-1118.htm
November 10, 2004 - NCUA Chairman Announces 2004 Tag Grant Awards - The
National Credit Union Administration awarded over $1.2 million in technical
assistance grants in 2004, according to NCUA Chairman JoAnn Johnson.
www.ncua.gov/news/press_releases/2004/NR04-1110.htm
November 10, 2004 - Unauthorized Banking: All Canadian Financial Co and
Fairbank Group, Offshore Banking, Unauthorized Internet Banks - This
issuance notifies national banks and regulatory agencies that the OCC has
been advised that All Canadian Financial Co and Fairbank Group, Offshore
Banking, both with addresses in Canada, are actively engaged in offering a
full range of deposit and banking services via the Internet. Canadian
authorities have informed the OCC that neither have been authorized to
conduct the business of banking in or from Canada.
www.occ.treas.gov/ftp/alert/2004-22.txt
November 10, 2004 - Bank Secrecy Act/Anti-Money Laundering: Enforcement
Guidance for BSA/AML Program Deficiencies - This bulletin provides guidance
for citing violations and taking enforcement actions relating to the Bank
Secrecy Act compliance program rule and the suspicious activity reporting
requirements. It is not intended, does not, and may not be relied upon to
create rights, substantive or procedural, and is not enforceable at law.
www.occ.treas.gov/ftp/bulletin/2004-50.txt
November 10, 2004 - FFIEC Information Technology Examination Handbook New
Guidance for Examiners, Financial Institutions and Technology Service
Providers on Operations and Wholesale Payment Systems - The Federal
Financial Institutions Examination Council has issued booklets with guidance
on evaluating operations and wholesale payment systems. These booklets are
the last in a series of booklets comprising the FFIEC Information Technology
Examination Handbook. The outdated 1996 FFIEC Information Systems
Examination Handbook has been officially retired.
www.fdic.gov/news/news/financial/2004/fil11904.html
November 10, 2004 - Deposit Insurance Coverage Video on Deposit Insurance
Coverage for Bank Employees and Customers - The FDIC has produced a digital
video on deposit insurance coverage for bank employees and bank customers.
The 27-minute video provides an overview of how deposit insurance works,
focusing on the most common account ownership categories used by individuals
and families.
www.fdic.gov/news/news/financial/2004/fil11804.html
November 10, 2004 - FDIC Makes Public September Enforcement Actions; No
Administrative Hearing Scheduled - The Federal Deposit Insurance Corporation
today released a list of orders of administrative enforcement actions taken
against banks and individuals in September. No administrative hearing is
scheduled for November.
www.fdic.gov/news/news/press/2004/pr11404.html
November 10, 2004 - The Federal Reserve Board on Wednesday approved an
action by the Board of Directors of the Federal Reserve Bank of San
Francisco increasing the discount rate at the bank from 2-3/4 percent to 3
percent, effective immediately.
www.federalreserve.gov/boarddocs/press/monetary/2004/200411102/default.htm
November10, 2004 - FOMC statement and Board approval of discount rate
requests of the Federal Reserve Banks of Boston, New York, Philadelphia,
Cleveland, Richmond, Atlanta, Chicago, St. Louis, Minneapolis, and Kansas
City.
www.federalreserve.gov/boarddocs/press/monetary/2004/20041110/default.htm
November 9, 2004 - OCC Will Hold Hearing on Charges Against Grant Thornton;
Agency Seeks Cease and Desist Order and Civil Money Penalty - The Office of
the Comptroller of the Currency today announced a public hearing before an
Administrative Law Judge beginning Wednesday, November 10, 2004, concerning
an enforcement proceeding against Grant Thornton LLP, former external
auditor for the failed First National Bank of Keystone, Keystone, West
Virginia.
www.occ.treas.gov/scripts/newsrelease.aspx?Doc=EBGYJ2FP.xml
November 9, 2004 - FRB Statistical Release - G.20 Finance Companies
www.federalreserve.gov/releases/g20/current/default.htm
November 9, 2004 - The High-Frequency Effects of U.S. Macroeconomic Data
Releases on Prices and Trading Activity in the Global Interdealer Foreign
Exchange Market - Alain P. Chaboud; Sergey Chernenko; Edward Howorka; Raj S.
Krishnasami Iyer; David Liu; Jonathan H. Wright - We introduce a new
high-frequency foreign exchange dataset from EBS that includes trading
volume in the global interdealer spot market, data not previously available
to researchers.
www.federalreserve.gov/Pubs/IFDP/2004/823/ifdp823.pdf
November 9, 2004 - Growth-Led Exports: Is Variety the Spice of Trade? -
Joseph E. Gagnon - Fast-growing countries tend to experience rapid export
growth with little secular change in their terms of trade. This contradicts
the standard Armington trade model, which predicts that fast-growing
countries can experience rapid export growth only to the extent that they
accept declining terms of trade.
www.federalreserve.gov/Pubs/IFDP/2004/822/ifdp822.pdf
November 9, 2004 - Measuring Capital and Technology: An Expanded Framework -
Carol Corrado, Charles Hulten, and Daniel Sichel - Business outlays on
intangible assets are usually expensed in economic and financial accounts.
Following Hulten (1979), this paper develops an intertemporal framework for
measuring capital in which consumer utility maximization governs the
expenditures that are current consumption versus those that are capital
investment.
www.federalreserve.gov/pubs/feds/2004/200465/200465pap.pdf
November 9, 2004 - The Federal Reserve Board on Tuesday announced its
approval of the application by Barclays PLC and Barclays Bank PLC, both in
London, England, and Barclays Group US Inc., Wilmington, Delaware, to form
bank holding companies and to acquire Juniper Financial Corp. and its
subsidiary bank, Juniper Bank, both in Wilmington, Delaware.
www.federalreserve.gov/boarddocs/press/orders/2004/20041109/default.htm
November 9, 2004 - NCUA Chairman Encourages Credit Union Input For Agency's
Regulatory Agenda - In remarks today at the Nebraska Credit Union League's
Compliance Conference, National Credit Union Administration Chairman JoAnn
Johnson, urged credit union officials to provide input for NCUA's 2005
regulatory review.
www.ncua.gov/news/press_releases/2004/NR04-1109.htm
November 9, 2004 - NCUA - Matz Encourages Credit Unions to Help Consumers
Hurt by Economic Downturn - NCUA Board Member Shares Opportunities at
Southwest Corp. Economic Forum
www.ncua.gov/news/press_releases/2004/NR04-1109-2.htm
November 9, 2004 - OCC Survey Finds Easing of Commercial Credit Underwriting
Standards - The Office of the Comptroller of the Currency reported today
that commercial loan standards eased over the past year, particularly in the
areas of structured finance and syndicated/national loans-areas that had
shown the greatest tightening in the four prior years.
Press Release:
www.occ.treas.gov/scripts/newsrelease.aspx?Doc=FQDYWD24.xml
Attachment:
www.occ.treas.gov/2004Underwriting/CreditUnderwriting2004.htm
November 9, 2004 - NCUA Regulatory Review (2005) - The NCUA reviews all its
existing regulations every three years. The NCUA Office of General Counsel
maintains a rolling review schedule that identifies onethird of NCUA's
existing regulations for review each year and provides notice to the public
of those regulations under review so the public may have an opportunity to
comment.
www.ncua.gov/RegulationsOpinionsLaws/rules_and_regs/2005RegulatoryReview.pdf
November 8, 2004 - NCUA - Small Credit Union Workshop November 20, 2004 in
New York, New York
www.ncua.gov/CreditUnionDevelopment/SCUP/R1/R1Events.htm
November 8, 2004 - San Francisco Federal Reserve Bank Reaches Agreement on
Site for New Seattle Branch Building - The Federal Reserve Bank of San
Francisco today announced it has signed a purchase and sale agreement with
The Boeing Company to purchase 10.8 acres on an undeveloped portion of the
Longacres Office Park in Renton, Washington, for a new Greater Seattle
Metropolitan area branch building.
www.frbsf.org/news/releases/2004/1108.html
___________________
November 5, 2004 - OCC Banker Education Update - Information from
the July and September Telephone Seminars have been posted to the Banker
Education page. Items include the transcript and slides from "Outsourcing
Technology Services: A Management Decision" and the information package from
"Financing Minority Businesses". Also, see the announcement on the Upcoming
Telephone Seminar page.
Attachment:
www.occ.treas.gov/IT_OutSrce_Final_Slides.pdf
Attachment:
www.occ.treas.gov/Edited_Outsourcing_Transcript_Final_110404.pdf
November 5, 2004 - Check Clearing for the 21st Century Act and 12 CFR 229
Availability of Funds and Collection of Checks Availability of FFIEC's
InfoBase for Check 21 and Updated Examination Procedures for Regulation
Press Release:
www.occ.treas.gov/ftp/bulletin/2004-49.txt
Attachment:
www.occ.treas.gov/ftp/bulletin/2004-49a.pdf
November 5, 2004 - OCC Publishes Annual Report for Fiscal Year 2004 - The
OCC's annual report sets forth the agency's accomplishments in supervision,
regulation, risk analysis, and chartering in fiscal year 2004.
www.occ.treas.gov/annrpt/annual.htm
November 5, 2004 - Remarks by FDIC Chairman Don Powell Western Independent
Bankers Association.
www.fdic.gov/news/news/press/2004/pr11304.html
November 5, 2004 - FRB Statistical Release G.19 Consumer Credit - In the
third quarter, consumer credit increased at an annual rate of 5 percent. In
September, consumer credit rose at an annual rate of about 5-3/4 percent.
Revolving credit growth picked up, while nonrevolving credit growth edged
down.
www.federalreserve.gov/Releases/G19/Current/default.htm
November 5, 2004 - FDIC Issues November List of Banks Examined for CRA
Compliance - The Federal Deposit Insurance Corporation today issued its
monthly list of state nonmember banks recently evaluated for compliance with
the Community Reinvestment Act.
www.fdic.gov/news/news/press/2004/pr11204.html
November 5, 2004 - Termination of the Regulatory Reports Monitoring Program
and New Procedures for Monitoring Regulatory Reports - The Federal Reserve
is terminating the Regulatory Reports Monitoring Program, under which the
Board used various monitoring, reporting, and consultation requirements to
identify banking organizations' noncompliance with their filing obligations.
www.federalreserve.gov/boarddocs/SRLETTERS/2004/sr0415.htm
November 5, 2004 - Governor Susan Schmidt Bies - Financial Supervision
Issues At the Securities Industry Association Annual Meeting, Boca Raton,
Florida.
www.federalreserve.gov/boarddocs/speeches/2004/20041105/default.htm
November 4, 2004 - The Federal Reserve Board on Thursday approved fee
schedules for Federal Reserve Bank payment services for depository
institutions, effective January 3, 2005.
www.federalreserve.gov/boarddocs/press/other/2004/20041104/default.htm
November 3, 2004 - Banking Agencies Finalized Basel II Survey Documents -
The U.S. banking agencies have made available survey materials for the
fourth Quantitative Impact Study and a related Loss Data Collection Exercise
in preparation for the U.S. implementation of the Basel II Capital
Framework.
Press Release:
www.federalreserve.gov/boarddocs/press/bcreg/2004/20041103/default.htm
Press Release:
www.fdic.gov/news/news/press/2004/pr11104.html
Press Release:
www.occ.treas.gov/scripts/newsrelease.aspx?JNR=1&Doc=232UMY7C.xml
Press Release:
www.ots.treas.gov/docs/7/77447.html
November 3, 2004 - NCUA - Matz Reaffirms Her Agenda After Election Day -
NCUA Board Member will continue PALS workshops, Small CU Initiative, and
liaisons to national organizations
www.ncua.gov/news/press_releases/2004/NR04-1103.htm
November 3, 2004 - The Federal Reserve Board announced Wednesday that it
will release the minutes of the September 21, 2004, Federal Open Market
Committee meeting at 2 p.m. EST on Friday, November 12 because of the
Veteran's Day holiday.
www.federalreserve.gov/boarddocs/press/other/2004/20041103/default.htm
November 2, 2004 - Cathy Lemieux to Head Bank Supervision at Chicago Fed -
The Federal Reserve Bank of Chicago today announced that its Board of
Directors has approved the promotion of Cathy Lemieux as Senior Vice
President of Supervision and Regulation, effective today.
www.chicagofed.org/news_and_conferences/news/2004_11_01_cathy_lemieux_to_head_bank_supervision.cfm
November 1, 2004 - NCUA - PALS Workshop Shares New Ideas to Reach New
Members.
www.ncua.gov/news/press_releases/2004/NR04-1101.htm
November 1, 2004 - FRB Statistical Release - G.5 Foreign Exchange Rates
www.federalreserve.gov/releases/g5/current/default.htm |
