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

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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 
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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 
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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
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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

 

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.  

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