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November 30, 2005 - NCUA Chairman Johnson Says Agency is
Demonstrating Progress With Study Focused on Credit Union Service to Persons
of Modest Means.
November 30, 2005 - OTS Director Reich In New Orleans - As part of the
Office of Thrift Supervision's ongoing efforts to assist in the cleanup and
rebuilding of hurricane-affected areas in the Gulf Coast states, OTS
Director John Reich traveled to New Orleans yesterday.
November 30, 2005 - Agencies Encourage Insured Depository Institutions to
Continue Efforts to Meet the Financial Needs of Customers Recovering from
the Aftermath of Hurricane Katrina - The Board of Governors of the Federal
Reserve System, the Federal Deposit Insurance Corporation, the National
Credit Union Administration, the Office of the Comptroller of the Currency,
and the Office of Thrift Supervision, and the Conference of State Bank
Supervisors are encouraging insured depository institutions to consider all
reasonable and prudent actions that could help meet the critical financial
needs of their customers and their communities affected by Hurricane
November 30, 2005 - Statistical Release - U.S. Reserve Assets; and Foreign
Official Assets Held at Federal Reserve Banks.
November 30, 2005 - Beige Book - Informal review by the Federal Reserve
Banks of current economic conditions in their Districts.
November 30, 2005 - The Federal Reserve Board on Wednesday announced its
approval of the proposal filed by ABC Bancorp, Moultrie, to acquire First
National Banc, Inc., St. Marys, and its subsidiary banks, First National
Bank, St. Marys, all of Georgia, and First National Bank, Orange Park,
November 30, 2005 - Governor Susan Schmidt Bies - Recent Developments in
Regulatory Capital - At the Standard & Poor's North American Financial
Institutions Conference, New York, New York.
November 30, 2005 - The Federal Reserve Board on Wednesday announced the
issuance of a consent Order of Assessment of a Civil Money Penalty against
County Bank, Merced, California, a state member bank. County 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.
November 30, 2005 - NCUA - General Counsel Opinion 05-0816 - Payout Priority
of Deferred Compensation.
November 30, 2005 - The Baby Boom: Predictability in House Prices and
Interest Rates - Robert F. Martin - This paper explores the baby boom's
impact on U.S. house prices and interest rates in the post-war 20th century
and beyond. Using a simple Lucas asset pricing model, I quantitatively
account for the increase in real house prices, the path of real interest
rates, and the timing of low-frequency fluctuations in real house prices.
The model predicts that the primary force underlying the evolution of real
house prices is the systematic and predictable changes in the working age
population driven by the baby boom. The model is calibrated to U.S. data and
tested on international data. One surprising success of the model is its
ability to predict the boom and bust in Japanese real estate markets around
1974 and 1990.
November 29, 2005 - FDIC Issues First Quarter 2006 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 2006.
November 29, 2005 - NCUA - Proposed Rule - Truth in Savings.
November 29, 2005 - NCUA - Final Rule - Post-Employment Restrictions for
Certain NCUA Examiners.
November 29, 2005 - NCUA - Action taken at the 11/29/2005 NCUA Board
November 29, 2005 - NCUA - Opening Statement of Board Member Hood made at
the 11/29/2005 NCUA Board Meeting.
November 29, 2005 - Licensing Manual Update - The "General Policies and
Procedures" booklet of the Licensing Manual has been revised. This update
adds guidance and procedures for filing an application to substantially
increase or decrease the bank's assets in accordance with 12 CFR 5.53. It
also amends the guidance for branches at historic properties.
November 29, 2005 - The Federal Reserve Board on Tuesday announced the names
of five new members of its Thrift Institutions Advisory Council and
designated a new President and Vice President of the Council for 2006.
November 29, 2005 - The Federal Reserve Board on Tuesday released the
minutes of its discount rate meetings from October 3 through November 1,
November 29, 2005 - OCC Anti-Fraud Resources - OCC's new feature provides
Consumers and Bankers with information and resources to effectively
identify, report, and combat fraud.
November 29, 2005 - Fair Credit Reporting Medical Information Regulations:
Final Rule - Rule implements and creates exceptions to section 411 of the
Fair and Accurate Credit Transactions Act, which prohibits creditors from
using medical information in credit underwriting.
November 29, 2005 - St. Louis Fed Names Hendin VP and Deputy General Counsel
- Roy A. Hendin joined the Federal Reserve Bank of St. Louis as vice
president, deputy general counsel and assistant secretary to the board of
directors. His most recent position was senior vice president and general
counsel for Belair Asset Management Ltd. in St. Louis.
November 29, 2005 - Vice Chairman Roger W. Ferguson, Jr. - Recent Changes in
Household Finances and Home Lending - To the monthly meeting of the Epsilon
Boule Fraternity for African-American Leaders, Washington, D.C.
November 28, 2005 - Federal Reserve Bank Announces Director Elections
Results, Chairman And Deputy Chairman Appointments - The Federal Reserve
Bank of Kansas City announces the results of recent elections for two
positions on the Bank's Board of Directors.
November 28, 2005 - Annual Independent Audits and Reporting Requirements
Amendments to Part 363. The FDIC has amended Part 363 of its
regulations by raising the asset-size threshold from $500 million to $1
billion for internal control assessments by management and external
auditors. For institutions between $500 million and $1 billion in assets,
only a majority, rather than all, of the members of the audit committee, who
must be outside directors, must be independent of management. The final rule
is effective December 28, 2005.
November 28, 2005 - Vice Chairman Roger W. Ferguson, Jr. (on November 8)
Financial Regulation: Seeking the Middle Way To the Fourth Joint Central
Bank Research Conference on Risk Management and Systemic Risk, Frankfurt,
Germany (via videoconference).
November 23, 2005 - FDIC Trust Examination Manual - Summary: The
FDIC has updated its Trust Examination Manual. It is now available on the
FDIC's Web site and may also be purchased in a CD-ROM format.
November 23, 2005 - NCUA - Letter to Credit Unions 05-CU-18 - Guidance on
Authentication in Internet Banking Environment.
November 23, 2005 - The Federal Reserve Board on Wednesday announced the
appointment of the chairmen and deputy chairmen of the twelve Federal
Reserve Banks for 2006.
November 22, 2005 - NCUA - Northup to Leave NCUA in 2006 - National Credit
Union Administration Congressional and Government Affairs Director Clifford
R. Northup today announced plans to relinquish his position in early January
2006 and depart the agency after a transition period.
November 22, 2005 - Revised Training Program for Information Technology
Examiners - This letter modifies the training program for information
technology examiners as approved by the Staff Development Subcommittee of
the Strategic Plan Steering Committee. Effective with the publication of
this SR letter, the revised training program applies to all assistant IT
examiners currently employed by the Federal Reserve Banks, as well as to
those hired in the future. Completion of this program is a requirement for
IT specialists to obtain commissioned examiner status at the Federal Reserve
November 22, 2005 - Fair Credit Reporting Act: Examination Procedures - The
Fair Credit Reporting Act was amended by passage of the FACT Act. Attached
are revised interagency FCRA examination procedures for implementing
consumer compliance changes.
November 22, 2005 - OCC Announces New Electronic Interpretations and Actions
- November 2005.
November 22, 2005 - OCC Releases CRA Evaluations For 12 National Banks.
November 22, 2005 - The Federal Reserve Board and the Federal Open Market
Committee on Tuesday released the attached minutes of the Committee meeting
held on November 1, 2005.
November 22, 2005 - Bank and Thrift Earnings Return to Record Level in the
Third Quarter Income rose more than four percent over second quarter;
trading revenue up 84 percent - Commercial banks and savings institutions
insured by the Federal Deposit Insurance Corporation reported record net
income of $34.6 billion for the third quarter of 2005, a $1.4 billion
improvement (4.2 percent) over the second quarter, and $492 million (1.4
percent) more than the previous earnings record set in the first quarter of
November 21, 2005 - Thrifts Maintain Healthy Performance in Third Quarter -
The nation's thrift industry continued its strong performance in the third
quarter of 2005, according to financial results released today by the Office
of Thrift Supervision
November 21, 2005 - Helping Seniors Remain Fiscally Fit: How-to Guide to
Money Management for Seniors and their Families Available from the FDIC -
With the average American living longer and spending more years (and more
money) in retirement than ever before, senior citizens need to find ways to
stretch and preserve their savings. The latest issue of FDIC Consumer News,
published by the Federal Deposit Insurance Corporation, is a special edition
devoted to helping seniors and their families make smart decisions about
their retirement funds.
November 21, 2005 - The Federal Reserve Board on Monday approved amendments
to its Regulation CC that define "remotely created checks" and create
transfer and presentment warranties to shift liability for an unauthorized
remotely created check to the institution where it is first deposited.
November 18, 2005 - FRB - Proposed interagency questions and answers on
revised CRA regulations.
November 18, 2005 - The Federal Reserve Board on Friday announced its
approval of the proposal filed by Zions Bancorporation, Salt Lake City,
Utah, to acquire Amegy Bancorporation, Inc. and its subsidiary bank, Amegy
Bank, National Association, both in Houston, Texas.
November 18, 2005 - The Federal Reserve Board on Friday announced its
approval of the notice under section 4 of the Bank Holding Company Act by
JPMorgan Chase & Co., New York, New York, to engage in physical commodity
trading activities on a limited basis as an activity that is complementary
to the financial activity of engaging regularly as principal in commodity
November 18, 2005 - OTS Director Reich Addresses Alternative Mortgage
Products - In a speech today before the Community Bankers Association of New
York State in Naples, Florida, OTS Director John Reich urged thrifts to
continue to practice sound underwriting and strong risk management as they
offer alternative, or "non-traditional," mortgage products.
November 17, 2005 - OCC Enforcement Actions - The Office of the
Comptroller of the Currency today released new enforcement actions taken
against national banks and individuals currently and formerly affiliated
with national banks and terminations of existing enforcement actions.
November 17, 2005 - Deposit Insurance Banker Survey to Evaluate FDIC's
Deposit Insurance Publications and - The FDIC is conducting a confidential
nationwide banker survey to evaluate, among other things, the effectiveness
and adequacy of the FDIC's current inventory of deposit insurance
publications and job aids designed to help bank employees understand deposit
insurance coverage. The FDIC encourages all FDIC-insured financial
institution officers responsible for oversight of savings and deposit
operations to participate in the survey. The survey should take an average
of 15 minutes to complete and will be available on the Web site until
December 16, 2005.
November 17, 2005 - Federal Reserve Is "Doing Its Best To Keep the Core
Inflation Horse from Leaving the Barn": St. Louis Fed's Poole - A key part
of the Federal Reserve's ability to track and contain inflation is that the
Fed is successful at both extracting information from observable data used
in economic models and applying judgment beyond observable data.
November 17, 2005 - Reporting Requirements - 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.
November 17, 2005 - FDIC and HUD Settle Case Against New England Mortgage
Company for Accepting Kickbacks for Business Referrals - East-West Mortgage
Co. received kickbacks from closing attorneys, appraisers, title companies -
The Department of Housing and Urban Development and the Federal Deposit
Insurance Corporation today announced a $150,000 settlement with one of the
largest mortgage companies in New England for violations of the Real Estate
Settlement Procedures Act. HUD and FDIC found that 1-800-East-West Mortgage
Company solicited and received tickets from certain settlement service
providers to Boston Red Sox and New England Patriots events as well as music
concerts and restaurant gift certificates in exchange for the referral of
November 17, 2005 - Statistical Release - G.17 Industrial Production -
Industrial production increased 0.9 percent in October after a drop of 1.5
percent in September. Hurricane-related recoveries in many industries and
the resolution of a strike at a major aircraft producer contributed
significantly to the increase in output. At 107.9 percent of its 2002
average, output in October was 1.9 percent above its year-earlier level.
Manufacturing production increased 1.4 percent, a rise that more than
reversed its September decline of 0.7 percent.
November 17, 2005 - Agencies Finalize FACT Act Rules on Medical Information
- The federal bank, thrift, and credit union regulatory agencies today
issued final rules under the Fair Credit Reporting Act that create
exceptions to the statutory prohibition against obtaining or using medical
information in connection with credit eligibility determinations.
November 17, 2005 - Agencies Issue Final Rules on Post-Employment
Restrictions for Senior Examiners - The federal bank and thrift regulatory
agencies today issued final rules to implement a special post-employment
restriction on certain senior examiners employed by an agency or Federal
Reserve Bank, as required by the Intelligence Reform and Terrorism
Prevention Act of 2004.
November 16, 2005 - NCUA Chairman Johnson Calls on Credit Unions to "Tell
Your Story" - National Credit Union Administration Chairman JoAnn Johnson
told credit union executives today that while the credit union system
provides outstanding service to members from all walks of life, America's
credit unions' compassionate mission of service of ‘people helping people'
should be told in a more valiant and vigorous manner.
November 16, 2005 - Community Reinvestment Act Proposed Interagency
Questions and Answers - The FDIC, the Federal Reserve Board and the Office
of the Comptroller of the Currency have published the attached informal
staff guidance on community reinvestment in the form of proposed questions
and answers. The agencies are seeking public comment on the Q&As. Comments
should be received by January 9, 2006.
November 15, 2005 - NCUA Chairman Addresses Health Savings Account Symposium
- National Credit Union Administration Chairman JoAnn Johnson delivered the
welcoming remarks today to those attending a Health Savings Account
Symposium at Apple Federal Credit Union in Fairfax, Virginia. The Symposium
was aimed at increasing awareness of access to Health Savings Accounts,
especially among Washington D.C.-based credit unions serving Federal
November 15, 2005 - NCUA and other FFIEC agencies permit exceptions to Real
Estate Appraisal requirements for credit unions impacted by recent
November 15, 2005 - NCUA - Rodney E. Hood Sworn-in as NCUA Board Member -
National Credit Union Administration Chairman JoAnn Johnson administered the
Oath of Office to new Board Member Rodney E. Hood today at NCUA
November 15, 2005 - National Historic Preservation Act of 1966 - The FDIC is
proposing to revise its Statement of Policy on the National Historic
Preservation Act of 1966 to reflect the FDIC's experience and practices in
applying the current SOP and statutory changes to the NHPA and its
implementing regulations. The proposed SOP would continue to be relevant to
applications for deposit insurance for de novo institutions, applications
for the establishment of domestic branches, and applications for the
relocation of domestic branches or main offices. Comments must be submitted
on or before December 19, 2005.
November 15, 2005 - 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.
November 15, 2005 - Vice Chairman Roger W. Ferguson, Jr. - Asset Price
Levels and Volatility: Causes and Implications - To the Banco de Mexico
International Conference, Mexico City, Mexico.
November 15, 2005 - Governor Mark W. Olson - Perspectives on the Development
of a Unified National Payments System in the United States - At the First EU/U.S.
Retail Banking Forum Conference, Brussels, Belgium.
November 15, 2005 - Ben S. Bernanke - Nomination hearing - Before the
Committee on Banking, Housing, and Urban Affairs, U.S. Senate.
November 14, 2005 - Chicago Fed Announces New Board of Directors - The
Federal Reserve Bank of Chicago announced today a new member of its board of
directors and a new member of its Detroit Branch board of directors, both
effective January 1.
November 14, 2005 - Bank Secrecy Act BSA/Anti-Money Laundering Examination
InfoBase - The Bank Secrecy Act Anti-Money Laundering Examination InfoBase,
which is located on the Federal Financial Institutions Examination Council's
Web site, has been updated.
November 14, 2005 - The SAR Activity Review - Trends, Tips & Issues -
Octtober 2005 Issue - The ninth issue of The SAR Activity Review - Trends,
Tips & Issues, published by the Department of the Treasury's Financial
Crimes Enforcement Network, is now available.
November 14, 2005 - The Federal Reserve Board on Monday announced its
approval of the application under section 3 of the Bank Holding Company Act
by Sky Financial Group, Inc., Bowling Green, to acquire Falls Bank, Stow,
all of Ohio.
November 14, 2005 - Chairman Alan Greenspan - Stability and Economic Growth:
The Role of the Central Bank - Before the Banco de Mexico's 80th Anniversary
International Conference, Mexico City (via videoconference).
November 10, 2005 - The Federal Reserve Board on Thursday announced
the approval of the application of Bank of Montreal, Montreal,
Canada, and its U.S. subsidiaries, Harris Financial Corp. and Harris
Bankcorp, Inc., both of Chicago, Illinois, to acquire Edville
Bankcorp, Inc. and its subsidiary bank, Villa Park Trust & Savings
Bank, both of Villa Park, Illinois.
November 10, 2005 - NCUA - Statement of NCUA Chairman Johnson
Regarding American Bankers Association Complaints.
November 10, 2005 - Comptroller Dugan Says Basel II Capital
Framework Will Substantially Enhance Safety and Soundness -
Comptroller of the Currency John C. Dugan told the Senate Banking
Committee today that the goal of the Basel II Capital Framework -
and a separate initiative for smaller institutions - will
substantially enhance safety and soundness.
November 10, 2005 - Interstate Banking, Federal Interest Rate
Authority Notice of Proposed Rulemaking - The FDIC has published the
attached new notice of proposed rulemaking to clarify which state
laws apply to branches of out-of-state, state-chartered banks and to
clarify the interest rates that state-chartered banks may charge.
The notice seeks public comment on all aspects of the proposed rules
through December 13, 2005.
November 10, 2005 - Maintain Current Leverage Ratio in New Basel II
Framework, FDIC Chairman Recommends Powell tells Senate Banking
Committee that QIS-4 results were 'unacceptable' - In testimony
before the Senate Banking Committee this morning, FDIC Chairman
Donald Powell underscored the need to maintain Prompt Corrective
Action regulations, particularly existing U.S. leverage
requirements, as part of the U.S. implementation of the Basel II
Framework, an international effort to modernize the bank capital
November 10, 2005 - Governor Susan Schmidt Bies - Basel II
implementation and revisions to Basel I - Before the Committee on
Banking, Housing, and Urban Affairs, U.S. Senate.
November 9, 2005 - U.S. Net International Investment Position Will
Stabilize Over Time; Current Account Deficit Will Decline to
Sustainable Levels: St. Louis Fed's Poole - In addressing the U.S.'s
growing current account deficit, the question is not whether it will
fall but whether the inevitable adjustment is likely to be painful
and disrupt U.S. economic growth and stability-a "hard landing."
November 9, 2005 - FDIC Reports Third Quarter 2005 Results for
Insurance Funds - The Federal Deposit Insurance Corporation
announced that the Bank Insurance Fund increased by a modest $240
million during the third quarter of 2005 (0.7 percent) to $35.3
billion, while the Savings Association Insurance Fund increased by
$110 million (0.9 percent) to $13.0 billion.
November 8, 2005 - NCUA - Statement of NCUA Chairman JoAnn Johnson
Regarding The Senate Confirmation of Rodney E. Hood and Christiane
November 8, 2005 - NCUA - Statement of Christiane Gigi Hyland upon
Senate Confirmation to the NCUA Board.
November 8, 2005 - NCUA - Statement of Rodney E. Hood upon Senate
Confirmation to the NCUA Board.
November 8, 2005 - Scott M. Polakoff Named Deputy Director and Chief
Operating Officer of OTS - The Office of Thrift Supervision
announced today that Scott M. Polakoff has been named the agency's
Deputy Director and Chief Operating Officer. Mr. Polakoff will join
OTS effective November 27, 2005.
November 8, 2005 - Bank and Thrift Premium Rates to Remain Unchanged
for First Half of 2006 Continued deposit growth, other factors could
lead to rate changes in second half of 2006 - Current deposit
insurance assessment rates charged to insured banks and savings
associations will remain unchanged for the first half of 2006, the
FDIC Board of Directors voted today.
November 8, 2005 - Monetary Policy with Imperfect Knowledge -
Athanasios Orphanides and John C. Williams - We examine the
performance and robustness of monetary policy rules when the central
bank and the public have imperfect knowledge of the economy and
continuously update their estimates of model parameters.
November 7, 2005 - St. Louis Fed Analysis Examines Uncertainty About
Future Oil Prices and Their Effects on U.S. Economy.
November 7, 2005 - St. Louis Fed's Review: Oil Price Volatility and
U.S. Macroeconomic Activity; An Analysis of Recent Studies on the
Effect of Foreign Exchange Intervention; Discrete Monetary Policy
Changes and Changing Inflation Targets in Estimated Dynamic
Stochastic General Equilibrium Models; Revisions to User Costs for
the Federal Reserve Bank of St. Louis Monetary Policy Indices.
November 7, 2005 - Statistical Release - G.19 Consumer Credit -
Consumer credit rose at an annual rate of 3-1/4 percent in the third
quarter. Consumer credit was unchanged in September, with an
increase in revolving credit offset by a decrease in nonrevolving
November 7, 2005 - Surveys and Reports - Senior Loan Officer Opinion
Survey on Bank Lending Practices - The October 2005 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.
November 7, 2005 - Statistical Release - G.17 Industrial Production
and Capacity Utilization, 2005 Annual Revision - The Federal Reserve
has revised the index of industrial production and the related
measures of capacity and capacity utilization for the period from
January 1972 through September 2005. Overall, the revisions to the
rates of change for total industrial production are small. Measured
from fourth quarter to fourth quarter, industrial output is now
reported to have contracted a bit more in 2001 and to have increased
slightly faster in 2002, 2003, and 2005 than previously reported.
November 7, 2005 - Termination of enforcement actions against
Planters Bank and Trust Company and Virginia Heartland Bank.
November 7, 2005 - Governor Mark W. Olson - A Look at Fair Lending
through the Lens of the New HMDA Data - Before the Consumer Bankers
Association 2005 Fair Lending Conference, Arlington, Virginia.
November 4, 2005 - Measuring Counterparty Credit Exposure to a
Margined Counterparty - Michael S. Gibson - Abstract: Firms active
in OTC derivative markets increasingly use margin agreements to
reduce counterparty credit risk. Making several simplifying
assumptions, I use both a quasi- analytic approach and a simulation
approach to quantify how margining reduces counterparty credit
November 4, 2005 - Explaining the Global Pattern of Current Account
Imbalances - Joseph W. Gruber; Steven B. Kamin - This paper assesses
some of the explanations that have been put forward for the global
pattern of current account imbalances that has emerged in recent
years: in particular, the large U.S. current account deficit and the
large surpluses of the Asian developing economies. Based on the
approach developed by Chinn and Prasad (2003), we use data for 61
countries during 1982-2003 to estimate panel regression models for
the ratio of the current account balance to GDP.
November 4, 2005 - DSGE Models of High Exchange-Rate Volatility and
Low Pass-Through - Giancarlo Corsetti; Luca Dedola; Sylvain Leduc -
This paper develops a quantitative, dynamic, open-economy model
which endogenously generates high exchange rate volatility, whereas
a low degree of pass-through stems from both nominal rigidities (in
the form of local currency pricing) and price discrimination.
November 4, 2005 - The Office of the Comptroller of the Currency
(OCC) announced today a Formal Agreement with The Laredo National
Bank, Laredo, Texas, and its subsidiary, Homeowners Loan Corporation
November 4, 2005 - 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. The list covers
evaluation ratings that the FDIC assigned to institutions in August
November 3, 2005 - NCUA - Chairman Johnson Testifies on Credit Union
Taxation - National Credit Union Administration Chairman JoAnn
Johnson told Members of the House Ways and Means Committee today
that America's credit unions' tax exemption is vital to the
long-term stability and safety and soundness of the nation's credit
union system, as well as consumer choice in the financial
November 3, 2005 - Vice Chairman Roger W. Ferguson, Jr. - Monetary
Credibility, Inflation, and Economic Growth - At the Cato Institute
23rd Annual Monetary Conference on Monetary Institutions & Economic
Development, Washington, D.C.
November 3, 2005 - Chairman Alan Greenspan - Economic Outlook -
Before the Joint Economic Committee, U.S. Congress.
November 2, 2005 - The Federal Reserve Board on Wednesday approved
fee schedules for Federal Reserve Bank payment services for
depository institutions, effective January 3, 2006.
November 2, 2005 - Bank Accounting Advisory Series, October 2005 -
In these accounting advisories, either the OCC's Office of the Chief
Accountant interprets generally accepted accounting principles or
the OCC interprets regulatory capital requirements.
www.occ.treas.gov/BA102005.pdf (This is a large file
so it may take a few minutes to download.)
November 2, 2005 - Guidance on the Examination Treatment of Assets
Related to the Tobacco Transition Payment Program - This letter sets
forth guidance to examiners with regard to the proper treatment of
assignments of tobacco transition payments and successor-in-interest
contract payments under the U.S. Department of Agriculture's Tobacco
Transition Payment Program in the assessment of risk management, as
well as for the purposes of regulatory reporting and capital.
November 1, 2005 - NCUA - Letter to Credit Unions 05-CU-16 - Bank
Secrecy Act Compliance.
November 1, 2005 - Comptroller Dugan Tells Bankers OCC Is Committed
To Measured, Fair, and Effective BSA/AML Supervision - Comptroller
of the Currency John C. Dugan said today that the OCC is committed
to a process of Bank Secrecy Act and Anti-Money Laundering
supervision and enforcement that is not only effective, but also
measured and fair.
November 1, 2005 - Statement of Comptroller Dugan On Retirement
Announcement Of House Financial Services Committee Chairman Oxley -
Comptroller of the Currency John C. Dugan issued the following
statement today regarding the retirement announcement of House
Financial Services Committee Chairman Michael G. Oxley.
November 1, 2005 - Powell Announces His Resignation as Chairman of
The FDIC Takes on new role coordinating Katrina rebuilding efforts -
Donald E. Powell today announced that he will be leaving the agency
to coordinate the Bush Administration's efforts to rebuild the Gulf
Coast areas affected by the recent hurricanes. Mr. Powell became the
18th Chairman of the Federal Deposit Insurance Corporation on August
(Everyone at R. Kinney Williams & Associates wants thank Mr. Powell
for being the FDIC Chairman, and we wish him the best as he tackles
another very important assignment.)
November 1, 2005 - The Federal Reserve Board on Tuesday announced
the approval of an application by Lloyds TSB Offshore Limited, St.
Helier, Jersey, to establish a representative office in Miami,
November 1, 2005 - The Federal Open Market Committee decided today
to raise its target for the federal funds rate by 25 basis points to
November 1, 2005 - Foreign Exchange Rates - The Table Below Shows
The Average Rates Of Exchange In October 2005 Together With
Comparable Figures For Other Months. Averages Are Based On Daily
Noon Buying Rates For Cable Transfers In New York City Certified For
Customs Purposes By The Federal Reserve Bank Of New York.
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