Bank Regulatory News
October 2003
You
can receive the regulatory press releases every week by subscribing to
The E-mail Banking News at
https://yennik.com/newletter_page.htm. There is no charge for
the e-newsletter.
Contact Kinney Williams at examiner@yennik.com
if you have any questions.
October 31, 2003 - Check Clearing
for the 21st Century Act - The Check Clearing for the 21st Century
Act was signed into law on October 28, 2003, and will become effective on
October 28, 2004. Check 21 is designed to foster innovation in the
payments system and to enhance its efficiency by reducing some of the
legal impediments to check truncation. www.federalreserve.gov/paymentsystems/truncation/default.htm
October 30, 2003 - Office of
Thrift Supervision Joins the FDIC's Interagency Electronic Filing System
for Beneficial Ownership Reports - The Office of Thrift
Supervision is joining the Federal Deposit Insurance Corporation's
interagency electronic filing system for reports of beneficial ownership
by directors, officers and principal shareholders (insiders) of savings
associations that have equity securities registered with OTS pursuant to
the Securities Exchange Act of 1934. www.ots.treas.gov/docs/77336.html
October 30, 2003 - Proposed Treatment of Expected and Unexpected Losses
Under the New Basel Capital Accord - The federal bank and thrift agencies
on Thursday issued the attached statement regarding the Basel Committee on
Banking Supervision's request for comment on a modification to its
proposed international capital standards.
Press Release: www.federalreserve.gov/boarddocs/press/bcreg/2003/20031030/default.htm
Press Release: www.fdic.gov/news/news/press/2003/pr10303.html
Press Release: www.ots.treas.gov/docs/77337.html
Press Release: http://www.occ.treas.gov/jointNewsRelease.asp?Doc=5YTOS4Y8.xml
Attachment: www.occ.treas.gov/ftp/bulletin/2003-44a.pdf
October 30, 2003 - The Federal Reserve Board on Thursday announced its
approval of the application by JPMorgan Chase Bank, New York, New York, to
acquire certain trust deposits from Bank One, National Association (Ohio),
Bank One Trust Company, National Association, both in Columbus, Ohio, and
Bank One, National Association (Chicago), Chicago, Illinois. www.federalreserve.gov/boarddocs/press/orders/2003/20031030/default.htm
October 29, 2003 - Steps to Help
Rebuild Areas in California Affected by Major Fires - The Federal Deposit
Insurance Corporation (FDIC) has announced a series of steps intended to
facilitate the rebuilding process in areas of California damaged by recent
fires. www.fdic.gov/news/news/financial/2003/fil0386.html
October 29, 2003 -SAR Activity
Review - By the Numbers, the statistical portion of the SAR Activity
Review was released this week by FinCEN. The Review provides statistics on
SAR filings and guidance to financial institutions on filing SARs. This
year, for the first time, the statistical portion of the Review is being
issued separately from the guidance portion. The Review is published twice
yearly by a subcommittee of the Bank Secrecy Act (BSA) Advisory Group,
which is a high-level task force established by Congress to coordinate BSA-related
matters. www.fincen.gov/bythenumtoc.pdf
October 29, 2003 - Remarks by
Chairman Alan Greenspan At the Federal Reserve Payments System
Development Committee 2003 Conference, Washington, D.C. www.federalreserve.gov/boarddocs/speeches/2003/20031029/default.htm
October 28, 2003 - NW Preferred Federal Credit Union Granted First "TIP"
Charter By NCUA Under New FOM Rules - 63-year-old
single sponsor occupational credit union to diversify membership base to
include those in insurance industry in its service area. www.ncua.gov/news/press_releases/2003/NR03-1028-3.htm
October 28, 2003 - OCC Guidance Will Assist Banks In Corporate Governance
- The Office of the Comptroller of the Currency announced today the
availability of publications that will assist bank directors in complying
with new corporate governance standards and in identifying information in
board reports that may signal existing or potential problems.
Press Release: www.occ.treas.gov/NewsRelease.asp?Doc=HDQINTSC.xml
Attachment: http://www.occ.treas.gov/rf_book.pdf
Attachment: http://www.occ.treas.gov/rf_book.pdf
October 28, 2003 - Roger W. Ferguson, Jr., on Tuesday took the oath of
office for a second four-year term as Vice Chairman of the Board of
Governors of the Federal Reserve System. www.federalreserve.gov/boarddocs/press/other/2003/20031028/default.htm
October 28, 2003 - The Federal Open Market Committee decided today to keep
its target for the federal funds rate at 1 percent. www.federalreserve.gov/boarddocs/press/monetary/2003/20031028/default.htm
October 28, 2003 - NCUA Places College Heights Credit Union into
Conservatorship - The National Credit Union Administration (NCUA) has
placed $3.9 million College Heights Credit Union, Fayetteville, N.C., into
conservatorship based upon the financial condition of the credit union.
www.ncua.gov/news/press_releases/2003/NR03-1028-2.htm
October 28, 2003 - Independent Appraisal and Evaluation Functions - The
Office of the Comptroller of the Currency, the Board of Governors of the
Federal Reserve System, the Federal Deposit Insurance Corporation, the
Office of Thrift Supervision, and the National Credit Union Administration
are jointly issuing the attached statement to address concerns identified
during examinations about the independence of the collateral valuation
process.
Press Release: www.fdic.gov/news/news/financial/2003/fil0384.html
Press Release: www.federalreserve.gov/boarddocs/srletters/2003/sr0318.htm
Press Release: www.occ.treas.gov/ftp/advisory/2003-9.txt
Attachment: www.occ.treas.gov/ftp/advisory/2003-9a.pdf
October 28, 2003 - OCC Allows National Bank Offices Affected by California
Wildfires to Close - The Office of the Comptroller of the Currency today
issued a proclamation allowing national bank offices affected by the
wildfires in Southern California to close at their discretion.
Press Release: www.occ.treas.gov/newsrelease.asp?Doc=ZGVWIHB0.xml
Attachment: www.occ.treas.gov/ftp/release/2003-85a.pdf
October 27, 2003 - FFIEC Information Technology Examination Handbook - The
Federal Financial Institutions Examination Council has issued three
booklets with guidance on: evaluating electronic banking activities; IT
audits; and the FedLine electronic funds transfer application. The
booklets are the fourth, fifth and sixth in a series of updates, which
will eventually replace the 1996 FFIEC Information Systems Examination
Handbook and comprise the new FFIEC Information Technology Examination
Handbook. www.fdic.gov/news/news/financial/2003/fil0383.html
October 27, 2003 - FDIC Makes Public September Enforcement Actions; No
Administrative Hearings 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 hearings are scheduled for
November. www.fdic.gov/news/news/press/2003/pr10203.html
October 24, 2003 - Latest Research Examines U.S. Trade with China -
China's
rapid economic growth has benefited U.S. consumers while challenging
domestic producers to lower costs to remain competitive, according to
research featured in the November issue of Chicago Fed Letter. www.chicagofed.org/newsandevents/pressreleases/2003/pr10242003.cfm
_____________________
October 24, 2003 - Financing Minority Businesses - The purpose of
this advisory letter is to identify ways in which national banks can
satisfy the financing needs of minority business entrepreneurs,
consistent with safe and sound banking practices, and to describe
risk mitigation techniques useful in this line of business. www.occ.treas.gov/ftp/advisory/2003-8.txt
October 24, 2003 - Ann F. Jaedicke Named Deputy Comptroller for
Compliance - Ann F.
Jaedicke has been named Deputy Comptroller for Compliance,
succeeding David G. Hammaker, who plans to retire from the OCC on
November 30. www.occ.treas.gov/NewsRelease.asp?Doc=CR67A3BO.xml
October 24, 2003 - Governor
Ben S. Bernanke - Remarks - At the Federal
Reserve Bank of Dallas Conference on the Legacy of Milton and Rose
Friedman's Free to Choose, Dallas, Texas www.federalreserve.gov/boarddocs/speeches/2003/20031024/default.htm
October 23, 2003 - NCUA - Report
for October 23, 2003 NCUA Board Meeting - A Summary of
Actions Taken at NCUA Board Meetings www.ncua.gov/news/board_reports/board_reports.html
October 23, 2003 - NCUA - Final
Rule - Freedom of Information Act - Guidance on Response
Programs for Unauthorized Access to Member Information and Member
Notice www.ncua.gov/news/proposed_regs/Proposed12CFRPart748.pdf
October 23, 2003 - New OCC Paper Describes Benefits of the Dual
Banking System - The Office of the Comptroller of the Currency has
published a new paper on the dual banking system that discusses the
important roles played by both state and nationally chartered banks
in maintaining the health and vitality of the U.S. banking system as
a whole.
Press Release: www.occ.treas.gov/NewsRelease.asp?Doc=F3Z0014C.xml
Attachment: www.occ.treas.gov/ftp/release/2003-83a.pdf
Attachment: www.occ.treas.gov/ftp/release/2003-83b.pdf
October 23, 2003 - NCUA Chairman Informs Credit Unions Of Grants For
The Corporation For National And Community Service's Next Generation
Of National Service Organizations - National Credit Union
Administration Chairman Dennis Dollar announced today that $4
million is available from the Corporation for National and Community
Service, which oversees AmeriCorp, for Next Generation Grants, and
will be made to eligible non-profit organizations. www.ncua.gov/news/press_releases/2003/NR03-1022-2.htm
October 23, 2003 - NCUA - National Credit Union Administration Board
Chairman Dennis Dollar announced today that the NCUA will
participate in the White House Conference on Faith-Based and
Community Initiatives on Wednesday, October 29, in Memphis,
Tennessee. www.ncua.gov/news/press_releases/2003/NR03-1022.htm
October 23, 2003 - Comptroller Of The Currency Bank Accounting
Advisory Series September 2003 - This
edition of the Bank Accounting Advisory Series expresses the Office
of the Chief Accountant's current views on accounting topics of
interest to national banks. Banks prepare their Consolidated Reports
of Condition and Income (call reports) using generally accepted
accounting principles. www.occ.treas.gov/ba092003.pdf
October 23, 2003 - The Federal Reserve Board on Thursday
announced modifications to the method for imputing priced-service
income from clearing balance investments. The Board approved these
modifications at an open meeting on October 22, 2003. www.federalreserve.gov/boarddocs/press/other/2003/20031023/default.htm
October 22, 2003 - The Federal Reserve Board on Wednesday approved
fee schedules for Federal Reserve Bank priced services, effective
January 2, 2004. www.federalreserve.gov/boarddocs/press/other/2003/20031022/default.htm
October 22, 2003 - Recent Changes to a Measure of U.S. Household
Debt Service - Karen Dynan, Kathleen Johnson, Karen Pence - Changes
in levels of aggregate household debt in the United States may
contain information about the current state of the nation's economy
and may affect its future direction. A commonly used measure of
household indebtedness is the household debt service ratio (formerly
known as the household debt service burden), published since 1980 by
the Board of Governors of the Federal Reserve System. www.federalreserve.gov/pubs/bulletin/2003/03bulletin.htm#oct
October 21, 2003 - OCC Announces New Electronic Interpretations and Actions - Corporate
Applications www.occ.treas.gov/interp/oct03/intoct03.htm
October 21, 2003 - OCC Releases CRA Evaluations For 33 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 September 15, 2003 through
October 14, 2003. www.occ.treas.gov/NewsRelease.asp?Doc=HTTA9OE.xml
October 21, 2003 - Productive
Capacity, Product Varieties, and the Elasticities Approach to the
Trade Balance Joseph E. Gagnon - Most macroeconomic models
imply that faster output growth tends to lower a country's trade
balance by raising its imports with little change to its exports. www.federalreserve.gov/pubs/ifdp/2003/781/default.htm
October 21, 2003 - The
Effect of Exchange Rate Fluctuations on Multinationals' Returns -
This paper examines if the type of exchange rate used or size of the
movement in the exchange rate matters in estimating exchange-rate
exposure of U.S. nonfinancial multinationals. www.federalreserve.gov/pubs/ifdp/2003/782/default.htm
October 21, 2003 - Market
Power and Inflation - This paper examines the extent to which
a decline in market power could have contributed to the general
decline in inflation rates experienced in developed countries during
the 1990s. www.federalreserve.gov/pubs/ifdp/2003/783/default.htm
October 20, 2003 - New Bank Secrecy Act Examination Procedures
Relating to the USA PATRIOT Act - The USA PATRIOT Act established
new and enhanced measures to prevent, detect and prosecute money
laundering and terrorism.
Press Release: www.federalreserve.gov/boarddocs/srletters/2003/sr0317.htm
Press release: www.occ.treas.gov/ftp/bulletin/2003-43.txt
Attachment: http://www.occ.treas.gov/ftp/bulletin/2003-43a.pdf
October 20, 2003 - Power outages
and the financial system - Testimony
of Governor Mark W. Olson Before the Subcommittee on
Oversight and Investigations of the Committee on Financial Services,
U.S. House of Representatives www.federalreserve.gov/boarddocs/testimony/2003/20031020/default.htm
October 20, 2003 - NCUA - Opinion
Letter 03-0821 - Field of Membership Issues for Department of
Homeland Security www.ncua.gov/ref/opinion_letters/2003_letters/03-0821.htm
October 20, 2003 - NCUA Board Member
Matz Recommends Diversifying Membership and Assets - Credit
unions that diversify their memberships and assets are better
positioned to manage risk, National Credit Union Administration
Board Member Debbie Matz advocated in a speech to Mid-States
Corporate Federal Credit Union's Economic Forum. www.ncua.gov/news/press_releases/2003/NR03-1020.htm
_________________
October 17, 2003 - Bank Secrecy Act Examination Procedures - The
Federal Deposit Insurance Corporation has revised its examination
procedures to include reviewing compliance with new sections of the Bank
Secrecy Act required by the USA PATRIOT Act of 2001. www.fdic.gov/news/news/financial/2003/fil0379.html
October 17, 2003 - NCUA - Credit Unions Learn How to Make Business Loans
Safely - Before comprehensive amendments take effect in credit unions'
federal member business loan regulation later this month, more than 200
credit union representatives gathered in the nation's capital on
International Credit Union Day to hear how to safely make business loans
to their members. www.ncua.gov/news/press_releases/2003/NR03-1017-2.htm
October 17, 2003 - NCUA - Dollar Calls Financial Literacy The "Vital Link"
Between Credit Union Access and Breaking "Vicious" Payday Lending Cycle -
National Credit Union Administration Chairman Dennis Dollar told a group
of credit union and community leaders here today that financial literacy
programs should a priority at all credit unions, but particularly at
credit unions serving low-income communities because they "provide the
vital link between access to lower-cost financial services and the
breaking of the vicious payday lending cycle in many low-income
neighborhoods." www.ncua.gov/news/press_releases/2003/NR03-1017.htm
October 16, 2003 - OCC Announces 13 New Enforcement Actions and Three
Terminations - The Office of the Comptroller of the Currency (OCC) today
announced 13 new enforcement actions taken against national banks and
individuals currently and formerly affiliated with national banks and
three terminations of existing enforcement actions. www.occ.treas.gov/NewsRelease.asp?Doc=KMS6B9JQ.xml
October 16, 2003 - The Federal Reserve Board on Thursday announced its
approval of the application by Wells Fargo & Company, San Francisco,
California, pursuant to section 3 of the Bank Holding Company Act to
acquire all the voting shares of Two Rivers Corporation and thereby
acquire its subsidiary, Bank of Grand Junction, both in Grand Junction,
Colorado. www.federalreserve.gov/boarddocs/press/orders/2003/200310162/default.htm
October 16, 2003 - The Federal Reserve Board on Thursday announced its
approval of the application by Wells Fargo & Company, San Francisco,
California, pursuant to section 3 of the Bank Holding Company Act to
acquire all the voting shares of Pacific Northwest Bancorp and thereby
acquire its subsidiary, Pacific Northwest Bank, both in Seattle,
Washington. www.federalreserve.gov/boarddocs/press/orders/2003/20031016/default.htm
October 16, 2003 - Industrial Production And Capacity Utilization -
Industrial production rose 0.4 percent in September after having edged
down 0.1 percent in August. For the third quarter, total industrial
production increased at an annual rate of 3.3 percent. Manufacturing
output, led by an increase in motor vehicle production, climbed 0.7
percent in September and rose at an annual rate of 2.9 percent in the
third quarter. The output at utilities fell back 2.2 percent in September,
and the output at mines was unchanged.
www.federalreserve.gov/Releases/G17/Current/default.htm
October 15, 2003 - The Federal Reserve Bank of New York today named
Timothy F. Geithner to serve as the Bank's new President and CEO. His
appointment by the New York Fed's Board of Directors was approved by the
Federal Reserve Board of Governors and announced by Mr. Peter Peterson,
chair of the New York Fed's Board of Directors and of the search committee
that selected Mr. Geithner. www.federalreserve.gov/boarddocs/press/other/2003/20031015/default.htm
October 15, 2003 - The Asset-Correlation Parameter in Basel II for
Mortgages on Single-Family Residences - This paper summarizes empirical
research undertaken by Federal Reserve Board staff in support of the
asset-correlation assumption implicit in the regulatory capital formula
for mortgages on single-family residences (structures with up to four
living units) in the proposed New Basel Capital Accord www.federalreserve.gov/generalinfo/basel2/docs2003/asset-correlation.pdf
October 15, 2003 - The Federal Reserve Board on Wednesday announced the
issuance of a Final Decision and Orders of Prohibition against Gene Ulrich
and Susan Diehl McCarthy, former Senior Vice President and Vice President,
respectively, of Six Rivers National Bank, Eureka, California. www.federalreserve.gov/boarddocs/press/Enforcement/2003/200310152/default.htm
October 15, 2003 - NCUA - Dollar Says Community Credit Unions "Part Of The
Solution" To Extending Financial Services To More Low-Income Americans - NCUA
Chairman Calls Upon Community Credit Unions To Document Their Successes
Which He Says Are Key To Access Across America Success www.ncua.gov/news/press_releases/2003/NR03-1015.htm
October 15, 2003 - FDIC'S Money Smart Wins Service To America Award - The
Federal Deposit Insurance Corporation's Money Smart financial
education program has been awarded a Service to America Medal by the
Partnership for Public Service, it was announced today. www.fdic.gov/news/news/press/2003/pr10103.html
October 15, 2003 - Beige Book -
Informal review by the Federal Reserve Banks of current economic
conditions in their Districts www.federalreserve.gov/FOMC/BeigeBook/2003/20031015/Default.htm
October 15, 2003 - The Federal Reserve Board on Wednesday announced the
execution of a Written Agreement by and among the First American Bank,
Carpentersville, Illinois; the Illinois Office of Banks and Real Estate;
and the Federal Reserve Bank of Chicago. http://www.federalreserve.gov/boarddocs/press/Enforcement/2003/20031015/default.htm
October 14, 2003 - Financial
Holding Companies - Under the Bank Holding Company Act, bank
holding companies may elect to be financial holding companies.
www.federalreserve.gov/boarddocs/press/Enforcement/2003/20031015/default.htm
October 14, 2003 - NCUA - Credit Unions Build Affordable Housing
Partnerships - NCUA Leaders Encourage
Nationwide Consideration of New Hampshire Model with Genesis at PALS
Workshop - Seen as Consistent With Access Across America Goals www.ncua.gov/news/press_releases/2003/NR03-1014.htm
October 14, 2003 - FOMC Must Focus on Longer-Run Forces To Promote Path of
Balanced Growth: St. Louis Fed's Poole At some point in the economy's
recovery from the 1990-91 recession, usually dated 1995, the economy's
plodding long-term productivity growth rate increased to about 2 1/2
percent. www.stlouisfed.org/news/releases/2003/10_14_03.html
October 14, 2003 - Statement on his
renomination as Vice Chairman of the Board - Testimony
of Vice Chairman Roger W. Ferguson, Jr. Before the Committee on
Banking, Housing, and Urban Affairs, U.S. Senate October 14, 2003 www.federalreserve.gov/boarddocs/testimony/2003/20031014/default.htm
October 14, 2003 - Statement on his
renomination to the Board - Testimony
of Governor Ben S. Bernanke Before the Committee on Banking,
Housing, and Urban Affairs, U.S. Senate October 14, 2003 www.federalreserve.gov/boarddocs/testimony/2003/200310142/default.htm
__________________
October
10, 2003 - The Federal Reserve Board on Friday announced the appointment
of the chairmen and deputy chairmen of the twelve Federal Reserve Banks
for 2004. www.federalreserve.gov/boarddocs/press/other/2003/20031010/default.htm
October 10, 2003 - Third Quarter 2003 Edition of the FDIC's Letter to
Stakeholders - The FDIC issues its sixth Letter to Stakeholders, a report
of the agency's activities for the third quarter of 2003. www.fdic.gov/news/news/financial/2003/fil0377.html
October 10, 2003 - Interim Rule and Notice of Proposed Rulemaking -
Request for Comments - This bulletin transmits both an interagency interim
final rule on asset-backed commercial paper programs and an interagency
notice of proposed rulemaking on asset-backed commercial paper programs
and securitizations with early amortization features.
Press Release: www.occ.treas.gov/ftp/bulletin/2003-42.txt
Attachment: www.occ.treas.gov/ftp/bulletin/68fr56530.pdf
Attachment: www.occ.treas.gov/ftp/bulletin/68fr56568.pdf
October 10, 2003 - NCUA - Holds 3rd Annual Budget Briefing And Public
Forum - Projected 2004 Agency Budget Growth Modest at 2.99% www.ncua.gov/news/press_releases/2003/NR03-1010.htm
October 9, 2003 - OCC Chief of Staff Addresses Midwest National Bank
Conference - Mark A Nishan, Chief of Staff for the Office of the
Comptroller of the Currency, addressed the Midwest National Bank
Conference in St. Louis, Missouri today.
Press Release: www.occ.treas.gov/NewsRelease.asp?Doc=KDCMDKR2.xml
Attachment: www.occ.treas.gov/ftp/release/2003-80a.pdf
October 9, 2003 - More Secure, Colorful $20 Bill Makes Its Debut
Banks Begin Distributing Newly
Redesigned Currency Today - The most secure currency in U.S.
history was introduced into the economy today, as a newly redesigned,
colorful $20 bill was issued by the Federal Reserve System.
www.federalreserve.gov/BoardDocs/Press/Other/2003/20031009/default.htm
October 9, 2003 - An update on the
predatory lending issue - Governor
Edward M. Gramlich At the Texas Association of Bank
Counsel 27th Annual Convention, South Padre Island, Texas www.federalreserve.gov/boarddocs/speeches/2003/20031009/default.htm
October 8, 2003 - NCUA - PALS Workshop Agenda Released on Alternatives to
Predatory Lending - Credit union officials from across America will gather
in Dallas on Jan. 26 to share best practices for offering alternatives to
predatory financial practices. www.ncua.gov/news/press_releases/2003/NR03-1008.htm
October 8, 2003 - Community
Developments Analysis Paper, "Payroll Cards: An Innovative Product
for Reaching the Unbanked and Underbanked"
- This paper provides an overview of payroll cards and examines
their potential use by financial institutions to attract nearly 10 million
unbanked households into the financial mainstream. The payroll card, a
prepaid debit card offered by an employer to employees in place of a check
to distribute wages, enables employees to withdraw their wages in cash at
an ATM or purchase goods and services. www.occ.treas.gov/cdd/payrollcards.pdf
October 8, 2003 - Remarks - Vice
Chairman Roger W. Ferguson, Jr. At the opening of the New
England Economic Adventure at the Federal Reserve Bank of Boston www.federalreserve.gov/boarddocs/speeches/2003/200310083/default.htm
October 8, 2003 - The future of
financial services - Revisited - Vice
Chairman Roger W. Ferguson, Jr. At the Future of Financial
Services Conference, University of Massachusetts, Boston, Massachusetts www.federalreserve.gov/boarddocs/speeches/2003/200310082/default.htm
October 8, 2003 - Comments on the
current state of the economy - Governor
Susan Schmidt Bies At the Annual Economic Outlook
Conference, Middle Tennessee State University, Murfreesboro, Tennessee www.federalreserve.gov/boarddocs/speeches/2003/20031008/default.htm
October 7, 2003 - Consumer Credit
- Beginning with the October release (of August data), the monthly G.19
consumer credit statistics incorporate student loans extended by the
federal government and by SLM Holding Corporation (SLM), the parent
company of Sallie Mae. www.federalreserve.gov/Releases/G19/Current/default.htm
October 7, 2003 - OTS Issues Final Regulations Governing Affiliate
Transactions - The Office of Thrift Supervision today issued a final rule
revising its regulations governing transactions between thrifts and their
affiliates. The final rule reflects public comments on an interim final
rule published by OTS in the December 20, 2002, issue of the Federal
Register. www.ots.treas.gov/docs/77334.html
October 7, 2003 - FDIC Issues October 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/2003/pr10003.html
October 7, 2003 - Federal Agencies Publish Consumer Brochure on Predatory
Lending - The federal Interagency Task Force on Fair Lending has published
a new brochure that alerts consumers to potential borrowing pitfalls,
including high-cost home loans, and provides tips for getting the best
financing deal possible. The brochure, Putting Your Home on the Loan
Line Is Risky Business, warns that regardless of whether a home
equity loan is for a home repair, bill consolidation or some other
purpose, it is important to shop around.
Press Release: www.federalreserve.gov/boarddocs/press/other/2003/20031007/default.htm
Press Release: www.fdic.gov/news/news/press/2003/pr9903.html
Press Release: www.ncua.gov/news/press_releases/2003/JR03-1007.htm
Press Release: www.occ.treas.gov/ftp/release/2003-79.htm
Attachment: www.occ.treas.gov/homeloan.htm
Attachment: www.occ.treas.gov/worksheet.htm
October 6, 2003 - NCUA Charters Missouri Credit Union - The National
Credit Union Administration issued a charter for Cornerstone National
Insurance Federal Credit Union in Columbia, Mo. on September 26. This is
the first federal credit union chartered in Missouri in more than 14
years. www.ncua.gov/news/press_releases/2003/NR03-1006.htm
October 3, 2003 - The Federal Reserve Board on Friday announced the move
to a quarterly publication schedule for the Federal Reserve Bulletin
and the creation of a new monthly statistical supplement. www.federalreserve.gov/boarddocs/press/other/2003/20031003/default.htm
October 3, 2003 - The Federal Reserve Board on Friday announced the
execution of a Written Agreement by and among the First Charter Bank,
Charlotte, North Carolina; the Office of the North Carolina Commissioner
of Banks, Raleigh, North Carolina; and the Federal Reserve Bank of
Richmond. www.federalreserve.gov/boarddocs/press/Enforcement/2003/20031003/default.htm
October 2, 2003 - Debt Elimination Schemes using Fictitious or Worthless
Bonds, Due Bills and Bills of Exchange - Please be advised that worthless
instruments entitled "Bond
for Discharge of Debt," "Bill of Exchange," "Due Bill," "Redemption
Certificate," or other similarly titled documents continue to be presented
to financial institutions, mortgage companies, credit card issuers, and
retail establishments throughout the United States in an effort to
eliminate legitimate debts. www.occ.treas.gov/ftp/alert/2003-12.txt
October 2, 2003 - Revocation of Banking License, First Federal Banking
Corporation, Republic of Palau - The Financial Institutions Commission,
Republic of Palau, has advised the Office of the Comptroller of the
Currency that it revoked First Federal Banking Corporation's (First)
banking license on September 26, 2003. www.occ.treas.gov/ftp/alert/2003-13.txt
October 2, 2003 - FFIEC Information Technology Examination Handbook - The
Federal Financial Institutions Examination Council has issued updated
guidance in three booklets on electronic banking, information technology
audit, and the FedLine electronic funds transfer application.
Press Release: www.occ.treas.gov/ftp/bulletin/2003-41.txt
Attachment: www.occ.treas.gov/ftp/bulletin/2003-41a.pdf
Attachment: www.ffiec.gov/ffiecinfobase//index.html
Attachment: www.ffiec.gov/ffiecinfobase/html_pages/it_01.html#ebank
October 2, 2003 - FDIC Names Judy Chapa Senior Advisor To Target Hispanics
On Financial Education - The Federal Deposit Insurance Corporation today
announced that Judy Chapa, former Deputy Assistant Secretary for the
Treasury Department's Office of Financial Education, has joined the FDIC Money
Smart team as Senior Advisor for Financial Education Outreach to
Hispanic Populations in the United States. www.fdic.gov/news/news/press/2003/pr9803.html
October 2, 2003 - The Federal Reserve Board announced today that the
Consumer Advisory Council will hold its next meeting on Thursday, October
23. The meeting will take place in Dining Room E, Terrace level, in the
Board's Martin Building. The session will begin at 9:00 a.m. and is open
to the public. www.federalreserve.gov/boarddocs/press/other/2003/20031002/default.htm
October 2, 2003 - Monetary Policy and the Stock Market: Some
Empirical Results
- Remarks by Governor Ben S.
Bernanke At
the Fall 2003 Banking and Finance Lecture, Widener University, Chester,
Pennsylvania October 2, 2003 www.federalreserve.gov/boarddocs/speeches/2003/20031002/default.htm
October 2, 2003 - FDIC Issues Enforcement Action Against Pennsylvania Bank
Trustees - The Federal Deposit Insurance Corporation has imposed civil
money penalties on seven current trustees of United-American Savings Bank,
Pittsburgh, PA. www.fdic.gov/news/news/press/2003/pr9703.html
October 2, 2003 - FDIC Issues Removal And Prohibition Order And Civil
Money Penalty Against Former New York Banker - The Federal Deposit
Insurance Corporation has issued a removal and prohibition order and
imposed a civil money penalty against Joseph D. Bellanca. www.fdic.gov/news/news/press/2003/pr9603.html
October 2, 2003 - FDIC Issues Removal And Prohibition Order And Civil
Money Penalty Against Former West Virginia Banker - The Federal Deposit
Insurance Corporation has issued a removal and prohibition order and
imposed a civil money penalty against Jimmy D. Morris. www.fdic.gov/news/news/press/2003/pr9503.html
October 2, 2003 - FDIC Issues Removal And Prohibition Order Against Former
North Carolina Banker - The Federal Deposit Insurance Corporation has
issued a removal and prohibition order against Herbert A. Gardner, Jr. www.fdic.gov/news/news/press/2003/pr9403.html
October 1, 2003 - The Federal Reserve Board on Wednesday announced the
annual adjustments in the amount of net transaction accounts used in the
calculation of reserve requirements and the cutoff level used to determine
the detail and frequency of deposit reporting. www.federalreserve.gov/boarddocs/press/bcreg/2003/20031001/default.htm
October 1, 2003 - NCUA - Opinion Letter 03-0929 - Fidelity Bond
Removal's Effect on Director's Service www.ncua.gov/ref/opinion_letters/2003_letters/03-0929.htm
October 1, 2003 - NCUA - National Credit Union Administration Issues
Prohibition Orders The National Credit Union Administration has issued
Orders of Prohibition against the following individuals: www.ncua.gov/news/press_releases/2003/NR03-1001.htm
October 1, 2003 - NCUA - Credit Unions to Share Alternatives to Predatory
Financial Practices - National Credit Union Administration Board Member
Debbie Matz announced today that the agency will conduct a workshop for
credit unions on Jan. 26, 2004 in Dallas as part of the Board member's
Partnering and Leadership Successes initiative. www.ncua.gov/news/press_releases/2003/NR03-0930.htm
October 1, 2003 - Capital Standards - Federal Banking and Thrift
Regulatory Agencies Issue Rulemakings Advancing Risk-Sensitive Capital
Requirements for Sponsors of Asset-Backed Commercial Paper Programs
Affected by "Financial Accounting Standards Board Interpretation No.
46, Consolidation of Variable Interest Entities," and Issuers of
Consumer Securitizations With Early Amortization Provisions www.fdic.gov/news/news/financial/2003/fil0374.html
October 1, 2003 - FDIC Makes Public August Enforcement Actions; No
Administrative Hearings Scheduled - The Federal Deposit Insurance
Corporation today released a list of orders of administrative enforcement
actions taken against banks and individuals in August. No administrative
hearings are scheduled for October www.fdic.gov/news/news/press/2003/pr9303.html
October 1, 2003 - Federal Reserve Statistical Release - E.2 Survey Of
Terms Of Business Lending, August 4-8, 2003 www.federalreserve.gov/releases/e2/Current/
October 1, 2003 - Maintaining Price Stability - Remarks
by Governor Edward M. Gramlich Before
the Economic Club of Toronto, Toronto, Canada October 1, 2003 www.federalreserve.gov/boarddocs/speeches/2003/20031001/default.htm
|
