Bank Regulatory News

October 2010

October 28, 2010 - Bramer Joins St. Louis Fed’s Health Care Industry Council - Kevin Bramer, president and CEO of MedVenture Technology Corp., of Jeffersonville, Ind., has joined the Health Care Industry Council of the Federal Reserve Bank of St. Louis. www.stlouisfed.org/newsroom/displayNews.cfm?article=796 

October 28, 2010 - Foreclosure Crisis Resources - Get Help Now - In conjunction with the Oct. 27, 2010, release of a new Federal Reserve report, "Addressing the Impact of the Foreclosure Crisis." the St. Louis Fed has revamped its Foreclosure Resource Center with updated content and improved usability. www.stlouisfed.org/newsroom/displayNews.cfm?article=799 

October 28, 2010 - Henley Joins St. Louis Fed’s Health Care Industry Council - Gary D. Henley, CEO of Wright Medical Technology, Inc., in Arlington, Tenn., has joined the Health Care Industry Council of the Federal Reserve Bank of St. Louis.  www.stlouisfed.org/newsroom/displayNews.cfm?article=798 

October 28, 2010 - McClure and Wellhausen Join St. Louis Fed’s Transportation Industry Council - Richard McClure, president of UniGroup, Inc., in Fenton, Mo., and Paul Wellhausen, president of Lewis and Clark Marine in Granite City, Ill., have joined the Transportation Industry Council of the Federal Reserve Bank of St. Louis. www.stlouisfed.org/newsroom/displayNews.cfm?article=797 

October 28, 2010 - Could Asymmetric Information Alone Have Caused the Collapse of Private-Label Securitization? - Daniel O. Beltran and Charles P. Thomas - A key feature of the 2007-2008 financial crisis is that for some classes of securities trade has ceased.   www.federalreserve.gov/pubs/ifdp/2010/1010/ifdp1010.htm

October 28, 2010 - Board issues enforcement actions with Omega Capital Corp., First Commercial Bank of Florida and CCF Holding Company.   www.federalreserve.gov/newsevents/press/enforcement/20101028a.htm

October 27, 2010 - Chicago Fed Midwest Manufacturing Index - The Chicago Fed Midwest Manufacturing Index is a monthly estimate by major industry of manufacturing output in the Seventh Federal Reserve District states of lllinois, Indiana, Iowa, Michigan, and Wisconsin.   www.chicagofed.org/webpages/publications/cfmmi/index.cfm 

October 27, 2010 - OCC Deputy Comptroller Testifies on Mortgage Modification Activities - Deputy Comptroller for Large Bank Supervision Joseph H. Evers discussed mortgage modification activities in testimony before the Congressional Oversight Panel. www.occ.gov/news-issuances/news-releases/2010/nr-occ-2010-129.html 

October 27, 2010 - OCC Releases CRA Evaluations For 14 National Banks - The Office of the Comptroller of the Currency (OCC) today released a list of Community Reinvestment Act performance evaluations that became public during the period of September 15, 2010 through October 14, 2010.    www.occ.gov/news-issuances/news-releases/2010/nr-occ-2010-128.html

October 26, 2010 - Booklet on Mortgage Outreach and Research Efforts Now Online - New publication, called "Addressing the Impact of the Foreclosure Crisis," offers information on a wide range of Federal Reserve initiatives. www.chicagofed.org/digital_assets/others/in_focus/foreclosure_resource_center/more_report_final.pdf 

October 26, 2010 - St. Louis Fed-Louisville To Host Discussion on Implications of Financial Regulatory Reform - The Federal Reserve Bank of St. Louis-Louisville Branch will host a special discussion with senior banking executives and economists on the implications of financial regulatory reform. www.stlouisfed.org/newsroom/displayNews.cfm?article=795 

October 26, 2010 - Oil Shocks and the Zero Bound on Nominal Interest Rates - Martin Bodenstein, Luca Guerrieri, and Christopher Gust - Beginning in 2009, in many advanced economies, policy rates reached their zero lower bound. Almost at the same time, oil prices started rising again.   www.federalreserve.gov/pubs/ifdp/2010/1009/ifdp1009.htm 

October 26, 2010 - Consumer Affairs Letters - Revised Interagency Examination Procedures for Regulation E.   www.federalreserve.gov/boarddocs/caletters/2010/1012/caltr1012.htm 

October 26, 2010 - Federal Open Market Committee - Historical Meeting Materials, 1954-55.  www.federalreserve.gov/monetarypolicy/fomc_historical.htm 

October 26, 2010 - The Federal Reserve Board on Tuesday announced its approval of the proposal by SKBHC Holdings LLC, Corona del Mar, California, to become a bank holding company and to acquire all the voting shares of Starbuck Bancshares, Inc. and indirectly acquire Bancshares' wholly owned subsidiary bank, The First National Bank of Starbuck, both of Starbuck, Minnesota. www.federalreserve.gov/newsevents/press/orders/20101026a.htm 

October 26, 2010 - The Federal Reserve Board on Tuesday announced the annual indexing of the reserve requirement exemption amount and of the low reserve tranche for 2011. These amounts are used in the calculation of reserve requirements of depository institutions.    www.federalreserve.gov/newsevents/press/bcreg/20101026a.htm

October 26, 2010 - Board issues enforcement actions with FNB United Corp. and First Southwest Bancorporation, Inc. www.federalreserve.gov/newsevents/press/enforcement/20101026a.htm

October 25, 2010 - The Federal Reserve Board on Monday released a report that contains payment and account information about more than 1,000 agreements between credit card issuers and institutions of higher education or affiliated organizations that provide for the issuance of credit cards to students.    www.federalreserve.gov/newsevents/press/bcreg/20101025b.htm

October 25, 2010 - Economic Activity Slowed Further in September - The Chicago Fed National Activity Index was -0.58 in September, down from -0.49 in August. www.chicagofed.org/webpages/publications/cfnai/index.cfm

October 25, 2010 - NCUA - National Credit Union Administration Board Member Gigi Hyland today told the American Institute of Certified Public Accountants “Conference on Credit Unions” that NCUA is working to assist the credit union industry in weathering its “most significant financial and structural challenge” presented by a “perfect storm of over-concentration in private-label, mortgage-backed securities held by several large corporate credit unions.” www.ncua.gov/news/press_releases/2010/MR10-1025HylandOutlinesCorporateCUResolution.pdf 

October 25, 2010 - The Federal Reserve Board will be involved in many rulemakings to implement the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.  www.federalreserve.gov/newsevents/reform_meetings.htm 

October 25, 2010 - Chairman Ben S. Bernanke - Welcoming Remarks - At the Federal Reserve System and Federal Deposit Insurance Corporation Conference on Mortgage Foreclosures and the Future of Housing, Arlington, Virginia.   www.federalreserve.gov/newsevents/speech/bernanke20101025a.htm 

October 25, 2010 - A new publication, Addressing the Impact of the Foreclosure Crisis, details the innovative, community-based foreclosure prevention and neighborhood stabilization activities sponsored by the Federal Reserve as part of its Mortgage Outreach and Research Efforts initiative. www.federalreserve.gov/newsevents/press/other/20101025a.htm 

October 25, 2010 - The Federal Reserve Board on Monday released a report that contains payment and account information about more than 1,000 agreements between credit card issuers and institutions of higher education or affiliated organizations that provide for the issuance of credit cards to students.    www.federalreserve.gov/newsevents/press/bcreg/20101025a.htm 

October 22, 2010 - FDIC Approves the Payout of the Insured Deposits of First Arizona Savings, A FSB, Scottsdale, Arizona - The Federal Deposit Insurance Corporation approved the payout of the insured deposits of First Arizona Savings, A FSB, Scottsdale, Arizona. The bank was closed today by the Office of Thrift Supervision, which appointed the FDIC as receiver. www.fdic.gov/news/news/press/2010/pr10237.html 

October 22, 2010 - Hillcrest Bank, National Association, Overland Park, Kansas, Assumes All of the Deposits of Hillcrest Bank, Overland Park, Kansas - Hillcrest Bank, Overland Park, Kansas, was closed today by the Kansas Office of the State Bank Commissioner, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Hillcrest Bank, National Association, Overland Park, Kansas, a newly-chartered bank subsidiary of NBH Holdings Corp., Boston, Massachusetts, to assume all of the deposits of Hillcrest Bank. www.fdic.gov/news/news/press/2010/pr10236.html 

October 22, 2010 - Seaway Bank and Trust Company, Chicago, Illinois, Assumes All of the Deposits of First Suburban National Bank, Maywood, Illinois - First Suburban National Bank, Maywood, Illinois, was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Seaway Bank and Trust Company, Chicago, Illinois, to assume all of the deposits of First Suburban National Bank. www.fdic.gov/news/news/press/2010/pr10235.html

October 22, 2010 - United Bank, Zebulon, Georgia, Assumes All of the Deposits of The First National Bank of Barnesville, Barnesville, Georgia - The First National Bank of Barnesville, Barnesville, Georgia, was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with United Bank, Zebulon, Georgia, to assume all of the deposits of The First National Bank of Barnesville. www.fdic.gov/news/news/press/2010/pr10234.html

October 22, 2010 - How Does the Dodd-Frank Act Affect Financial Market Utilities? - The act calls for enhanced supervision and regulation of systemically important financial market utilities, critical behind-the-scenes institutions and arrangements that ensure the smooth functioning of financial markets. www.chicagofed.org/webpages/index.cfm
 
October 22, 2010 - NCUA - Hyland to Host Indirect Lending Webinar - National Credit Union Administration Board Member Gigi Hyland will host a webinar on Tuesday, November 9, 2010 entitled “Indirect Lending: Balancing the Risks and Rewards.” The webinar will begin at 2:00 p.m. EST and end at 3:30 p.m. EST. The webinar will be free and open to the public. www.ncua.gov/news/press_releases/2010/MR10-1022HylandHostIndirectLendingWebinar.pdf

October 22, 2010 - Morris Bank, Dublin, Georgia, Assumes All of the Deposits of The Gordon Bank, Gordon, Georgia - The Gordon Bank, Gordon, Georgia, was closed today by the Georgia Department of Banking and Finance, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Morris Bank, Dublin, Georgia, to assume all of the deposits of The Gordon Bank. www.fdic.gov/news/news/press/2010/pr10233.html 

October 22, 2010 - Bay Cities Bank, Tampa, Florida, Assumes All of the Deposits of Progress Bank of Florida, Tampa, Florida - Progress Bank of Florida, Tampa, Florida, was closed today by the Florida Office of Financial Regulation, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Bay Cities Bank, Tampa, Florida, to assume all of the deposits of Progress Bank of Florida. www.fdic.gov/news/news/press/2010/pr10232.html 

October 22, 2010 - Ameris Bank, Moultrie, Georgia, Assumes All of the Deposits of First Bank of Jacksonville, Jacksonville, Florida - First Bank of Jacksonville, Jacksonville, Florida, was closed today by the Florida Office of Financial Regulation, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Ameris Bank, Moultrie, Georgia, to assume all of the deposits of First Bank of Jacksonville. www.fdic.gov/news/news/press/2010/pr10231.html 

October 22, 2010 - Entry Dynamics and the Decline in Exchange-Rate Pass-Through - Christopher Gust, Sylvain Leduc, and Robert Vigfusson - The degree of exchange-rate pass-through to import prices is low.  www.federalreserve.gov/pubs/ifdp/2010/1008/ifdp1008.htm 

October 22, 2010 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm 

October 22, 2010 - Credit and Liquidity Programs and the Balance Sheet - October 2010 Report - The Federal Reserve prepares this monthly report as part of its efforts to enhance transparency about the range of programs and tools that have been implemented in response to the financial crisis and to ensure appropriate accountability to the Congress and the public.  www.federalreserve.gov/monetarypolicy/clbsreports.htm 
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October 20, 2010 - Beige Book: Economic Conditions Show Modest Improvement across All Fed Districts - Reports from the twelve Federal Reserve Districts suggest that, on balance, national economic activity continued to rise, albeit at a modest pace, during the reporting period from September to early October. www.federalreserve.gov/fomc/beigebook/2010/20101020/default.htm 

October 20, 2010 - Assessments - Notice of Proposed Rulemaking - On October 19, 2010, the FDIC proposed a comprehensive, long-range plan for Deposit Insurance Fund management with the goals of maintaining a positive fund balance, even during a period of large fund losses, and steady, predictable assessment rates throughout economic and credit cycles.   www.fdic.gov/news/news/financial/2010/fil10068.html

October 20, 2010 - FDIC and Federal Reserve System to Host Symposium on Mortgages and the Future of Housing Finance - The Federal Deposit Insurance Corporation and the Federal Reserve System will host a two-day symposium on October 25 and 26, 2010, on mortgages and the future of housing finance.   www.fdic.gov/news/news/press/2010/pr10230.html 

October 20, 2010 - Beige Book - Informal review by the Federal Reserve Banks of current economic conditions in their Districts.   www.federalreserve.gov/fomc/beigebook/2010/default.htm 

October 21, 2010 - NCUA - Phil-Pet Federal Credit Union Closes Member Accounts are Safe and Federally Insured - The National Credit Union Administration placed Phil-Pet Federal Credit Union, located in Pampa, Texas, into liquidation on October 18, 2010. www.ncua.gov/news/press_releases/2010/MR10-1021Phil-PetFCUCloses.pdf 

October 20, 2010 - NCUA -The National Credit Union Administration today released the monthly Board meeting schedule for 2011. The NCUA Board generally meets during the third or fourth week of each month, except August, when no meeting is scheduled. www.ncua.gov/news/press_releases/2010/MR10-1020NCUAIssues2011BoardMeetingSchedule.pdf 

October 19, 2010 - Governor Elizabeth A. Duke - Come with Me to the FOMC - At the Money Marketeers of New York University, New York, New York.   www.federalreserve.gov/newsevents/speech/duke20101019a.htm

October 19, 2010 - St. Louis Fed President James Bullard Will Provide Welcoming Remarks at the St. Louis Fed’s Regulatory Reform Event - The Financial Stability Oversight Council: Can Systemic Risk Be Contained? www.stlouisfed.org/newsroom/displayNews.cfm?article=788 

October 19, 2010 - FDIC Board Proposes Comprehensive, Long-range Fund Management Plan - The Board of Directors of the Federal Deposit Insurance Corporation today voted to propose a comprehensive, long-range plan for deposit insurance fund management with the goals of maintaining a positive fund balance, even during periods of large fund losses, and maintaining steady, predictable assessment rates throughout economic and credit cycles.   www.fdic.gov/news/news/press/2010/pr10229.html 

October 19, 2010 - Chairman Ben S. Bernanke - Brief Remarks - At the Grand Opening of the Junior Achievement Finance Park, Fairfax, Virginia.   www.federalreserve.gov/newsevents/speech/bernanke20101019a.htm 

October 19, 2010 - The Federal Reserve Board on Tuesday issued a report on the potential impact of credit risk retention requirements on securitization markets. The report was required by the Dodd-Frank Wall Street Reform and Consumer Protection Act.   www.federalreserve.gov/newsevents/press/other/20101019a.htm 

October 19, 2010 - The Federal Reserve Board on Tuesday announced a final rule implementing recent legislation modifying the effective date of certain disclosure requirements applicable to gift cards under the Credit Card Accountability Responsibility and Disclosure Act of 2009. www.federalreserve.gov/newsevents/press/bcreg/20101019b.htm 

October 19, 2010 - The Federal Reserve Board on Tuesday proposed a rule amending Regulation Z to clarify aspects of the Board's rules protecting consumers who use credit cards. The proposal is intended to enhance protections for consumers and to resolve areas of uncertainty so that card issuers fully understand their compliance obligations. www.federalreserve.gov/newsevents/press/bcreg/20101019a.htm 

October 19, 2010 - The Federal Reserve Board on Tuesday released the minutes of its discount rate meetings from August 23 through September 20, 2010. www.federalreserve.gov/newsevents/press/monetary/20101019a.htm 

October 19, 2010 - Board issues enforcement actions with 1st Financial Services Corporation, Highlands Bankshares, Inc. and Highlands Union Bank, and Persons Banking Company, Inc. www.federalreserve.gov/newsevents/press/enforcement/2010enforcement.htm 

October 18, 2010 - Acting Comptroller Walsh Addresses American Bankers Association Annual Convention - Acting Comptroller of the Currency John Walsh discussed implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act during a speech today at the Annual Convention of the American Bankers Association. www.occ.gov/news-issuances/speeches/2010/pub-speech-2010-125.pdf 

October 18, 2010 - Former Comptroller of the Currency John Dugan will join BB&T Corp. CEO Kelly King and Morgan Stanley Chief Risk Officer Kenneth deRegt as part of the special guest panel at the St. Louis Fed's next lunchtime discussion on the implications of financial regulatory reform. www.stlouisfed.org/newsroom/displayNews.cfm?article=786 

October 18, 2010 - Offshoring Bias in U.S. Manufacturing: Implications for Productivity and Value Added - Susan Houseman, Christopher Kurz, Paul Lengermann, and Benjamin Mandel - The rapid growth of offshoring has sparked a contentious debate over its impact on the U.S. manufacturing sector, which has recorded steep employment declines yet strong output growth--a fact reconciled by the notable gains in manufacturing productivity.   www.federalreserve.gov/pubs/ifdp/2010/1007/ifdp1007.htm 

October 18, 2010 - Seasonal factors for auto and truck production have been reestimated using final production data through September 2010. Factors were revised for April 2010 through December 2010 and have been extended through September 2011. Seasonal factors for months prior to April 2010 will revise at the time of the annual revision to the index of industrial production in the first half of 2011. www.federalreserve.gov/releases/g17/mvsf.htm

October 18, 2010 - The Federal Reserve Board on Monday announced an interim final rule to ensure that real estate appraisers are free to use their independent professional judgment in assigning home values without influence or pressure from those with interests in the transactions. The rule also seeks to ensure that appraisers receive customary and reasonable payments for their services. www.federalreserve.gov/newsevents/press/bcreg/20101018a.htm 

October 15, 2010 - Providence Bank, Columbia, Missouri, Assumes All of the Deposits of Premier Bank, Jefferson City, Missouri - Premier Bank, Jefferson City, Missouri, was closed today by the Missouri Division of Finance, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Providence Bank, Columbia, Missouri, to assume all of the deposits of Premier Bank, except certain brokered deposits. Brokered deposit customers should contact their brokers directly about the status of their accounts. www.fdic.gov/news/news/press/2010/pr10228.html 

October 15, 2010 - Midland States Bank, Effingham, Illinois, Assumes All of the Deposits of WestBridge Bank and Trust Company, Chesterfield, Missouri - WestBridge Bank and Trust Company, Chesterfield, Missouri, was closed today by the Missouri Division of Finance, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Midland States Bank, Effingham, Illinois, to assume all of the deposits of WestBridge Bank and Trust Company. www.fdic.gov/news/news/press/2010/pr10227.html

October 15, 2010 - Simmons First National Bank, Pine Bluff, Arkansas, Assumes All of the Deposits of Security Savings Bank, F.S.B., Olathe, Kansas - Security Savings Bank, F.S.B., Olathe, Kansas, was closed today by the Office of Thrift Supervision, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Simmons First National Bank, Pine Bluff, Arkansas, to assume all of the deposits of Security Savings Bank, F.S.B. www.fdic.gov/news/news/press/2010/pr10226.html 

October 15, 2010 - A snapshot of the Midwest economy: Past and present - by Scott Brave, business economist, and Chenfei Lu, associate economist - For over ten years, the Chicago Fed has published an index of national economic activity, the Chicago Fed National Activity Index. Here, the authors build on the methodology underlying this index to construct a Midwest counterpart that captures variation in economic activity in the five states that make up the Seventh Federal Reserve District. www.chicagofed.org/digital_assets/publications/chicago_fed_letter/2010/cflnovember2010_280.pdf 

October 15, 2010 - NCUA - Hendricks Joins NCUA as Director of Equal Opportunity - National Credit Union Administration Executive Director David M. Marquis announced this week that S. Denise Hendricks has been appointed director of the agency’s Equal Opportunity Programs.   www.ncua.gov/news/press_releases/2010/MA10-1015HendricksJoinsNCUAasEEOdirector.pdf 

October 15, 2010 - 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. http://www.occ.treas.gov/news-issuances/news-releases/2010/nr-occ-2010-124.html

October 15, 2010 - OCC Supports National Protect Your Identity Week - The Office of Comptroller of the Currency has joined the public-private coalition that supports the third annual Protect Your Identity Week, an initiative of the National Foundation for Credit Counseling and the Council of Better Business Bureaus (BBB).  www.occ.treas.gov/ftp/release/2010-123.htm 

October 15, 2010 - St. Louis Fed President James Bullard Will Provide Welcoming Remarks at the St. Louis Fed’s Economic Policy Conference.   www.stlouisfed.org/newsroom/displayNews.cfm?article=783 

October 15, 2010 - The Home Mortgage Disclosure Act - Prepared remarks, audio, and transcripts now available for the September 24, 2010 Board hearing. www.federalreserve.gov/communitydev/hmda_agenda20100924.htm 

October 15, 2010 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm 

October 15, 2010 - Chairman Ben S. Bernanke - Monetary Policy Objectives and Tools in a Low-Inflation Environment - At the Revisiting Monetary Policy in a Low-Inflation Environment Conference, Federal Reserve Bank of Boston, Boston, Massachusetts.   www.federalreserve.gov/newsevents/speech/bernanke20101015a.htm   
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October 14, 2010 - October Issue of St. Louis Fed’s Regional Economist Now Available - The October 2010 issue of The Regional Economist, the Federal Reserve Bank of St. Louis’ quarterly review of business and economic conditions, is now available.  www.stlouisfed.org/newsroom/displayNews.cfm?article=782 

October 14, 2010 - Guidance on Golden Parachute Applications - As part of supervisory efforts to address executive compensation in the financial services industry, the FDIC is issuing the attached guidance on handling applications to make permissible golden parachute payments.   www.fdic.gov/news/news/financial/2010/fil10066.html

October 14, 2010 - The Home Mortgage Disclosure Act - Prepared remarks, audio, and transcripts now available for the September 16, 2010 Chicago hearing.   www.federalreserve.gov/communitydev/hmda_agenda20100916.htm 

October 14, 2010 - Surveys and Reports - Senior Credit Officer Opinion Survey on Dealer Financing Terms, September 2010.   www.federalreserve.gov/econresdata/releases/scoos.htm

October 14, 2010 - Board issues enforcement actions with Investors Financial Corp of Pettis County and Gregg Bancshares. 
www.federalreserve.gov/newsevents/press/enforcement/20101014a.htm 

October 14, 2010 - NCUA Guaranteed Notes Assigned 0 Percent Risk Weight - The National Credit Union Administration Guaranteed Notes, backed by an unconditional NCUA guaranty for timely payment of principal and interest, will carry a 0 percent risk weight in accordance with clarification NCUA gained coordinating with the Federal Reserve Board, Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation and the Office of Thrift Supervision. www.ncua.gov/news/press_releases/2010/MR10-1014NCUAGuaranteedNotesFINAL.pdf 

October 13, 2010 - How the Fed Addresses Lending Needs of Small Businesses.  http://stlouisfed.org/publications/br/ 

October 12, 2010 - FDIC Announces Director of New Division of Depositor and Consumer Protection - The Federal Deposit Insurance Corporation today announced the appointment of Mark Pearce as director of the newly-established Division of Depositor and Consumer Protection.   www.fdic.gov/news/news/press/2010/pr10225.html 

October 12, 2010 - Community Reinvestment Act Joint Final Rule - The FDIC, the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, and the Office of Thrift Supervision (the agencies) are publishing the attached revisions to the Community Reinvestment Act regulations. This rule change implements two statutory changes.  www.fdic.gov/news/news/financial/2010/fil10065.html 

October 12, 2010 - FDIC Board Issues Proposed Rule on Dodd-Frank Resolution Authority - The Board of Directors of the Federal Deposit Insurance Corporation voted on Friday, October 8, 2010, to approve through notational vote a proposed rule clarifying how the agency would treat certain creditor claims under the new orderly liquidation authority established under the Dodd-Frank Wall Street Reform and Consumer Protection Act.   www.fdic.gov/news/news/press/2010/pr10224.html 

October 12, 2010 - Proposals for Comment - Proposal to approve under OMB delegated authority the extension for three years, without revision, FR 2226 and FR T-4. Proposal to approve under OMB delegated authority the extension for three years, with clarification, of the following reports: FR G-1, FR G-2, FR G-3, FR G-4, and FR U-1. www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm

October 12, 2010 - Regulatory Reform - Meetings and discussions with the public through October 12, 2010 - The Federal Reserve Board will be involved in many rulemakings to implement the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.   www.federalreserve.gov/newsevents/reform_meetings.htm 

October 12, 2010 - The Federal Reserve Board and the Federal Open Market Committee on Tuesday released the attached minutes of the Committee meeting held on September 21, 2010. www.federalreserve.gov/newsevents/press/monetary/20101012a.htm

October 11, 2010 - Vice Chair Janet L. Yellen - Macroprudential Supervision and Monetary Policy in the Post-crisis World - At the Annual Meeting of the National Association for Business Economics, Denver, Colorado.  www.federalreserve.gov/newsevents/speech/yellen20101011a.htm 

October 8, 2010 - OCC, Woodforest National Bank Enter Agreement to Reimburse Consumers - The Office of the Comptroller of the Currency has entered into a settlement with Woodforest National Bank, The Woodlands, Texas, that requires the bank to pay approximately $32 million in reimbursement to consumers who were harmed by the bank’s overdraft program.  www.occ.treas.gov/ftp/release/2010-122.htm 

October 8, 2010 - President James Bullard Guest Hosts CNBC's Squawk Box from the St. Louis Fed - St. Louis Fed President James Bullard guest hosted CNBC's Squawk Box live from the lobby of the St. Louis Fed on Oct. 8. He discussed monetary policy and economic issues with several leading Eighth District business and financial leaders, as well as with Missouri Sen. Kit Bond.  www.stlouisfed.org/newsroom/displayNews.cfm?article=778 

October 8, 2010 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

October 8, 2010 - The Federal Reserve Board announced Friday that the Consumer Advisory Council will hold its next meeting on Thursday, October 21. www.federalreserve.gov/newsevents/press/other/20101008a.htm 
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October 7, 2010 - OCC Issues Cease and Desist Order Against HSBC Bank USA, N.A.- The Office of the Comptroller of the Currency announced today the issuance of a Cease and Desist Order against HSBC Bank USA, N.A., McLean, Virginia, for violating the Bank Secrecy Act and its underlying regulations. The Order requires the bank to take comprehensive corrective actions to improve its BSA compliance program. Today’s action does not preclude the OCC from assessing a civil money penalty against the bank. www.occ.treas.gov/ftp/release/2010-121.htm 

October 7, 2010 - The Federal Reserve Board on Thursday announced the issuance of a consent Cease and Desist Order between HSBC North America Holdings, Inc., New York, New York, a registered bank holding company, and the Federal Reserve Board. The order requires HNAH to take corrective action to improve its firmwide compliance risk-management program, including its anti-money laundering compliance risk management. www.federalreserve.gov/newsevents/press/enforcement/20101007a.htm 

October 7, 2010 - The Federal Reserve Board on Thursday announced the execution of the following enforcement actions: NexTier Incorporated, Butler, Pennsylvania and Written Agreement dated October 4, 2010 and Valley Financial Corporation and Valley Bank, both of Roanoke, Virginia Written Agreement dated September 30, 2010 www.federalreserve.gov/newsevents/press/enforcement/20101007b.htm

October 6, 2010 - Banking, Legal Experts Discuss the Impact of FDIC's New Resolution Authority - The impact of the FDIC's new resolution authority will ultimately hinge on how the final rules are written and implemented, according to a panel of banking and legal experts who participated in the St. Louis Fed's “The FDIC's Resolution Authority: How Will It Work and Can It Prevent 'Too Big To Fail’?” discussion on Sept. 27. www.stlouisfed.org/newsroom/displayNews.cfm?article=766 

October 6, 2010 - Regulatory Relief - Guidance to Help Financial Institutions and Facilitate Recovery in the U.S. Virgin Islands Affected by Hurricane Earl - The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in the U.S. Virgin Islands affected by Hurricane Earl. www.fdic.gov/news/news/financial/2010/fil10064.html 

October 6, 2010 - Conversation with the Chairman - Video of the question and answer session can now be viewed on YouTube. - Federal Reserve Chairman Ben S. Bernanke participated in a live webcast of a town hall meeting with educators on Thursday, September 30, 2010 from 2:30-3:30 p.m. EDT. During this session, Chairman Bernanke addressed teachers' questions about the Federal Reserve and the economy. A webcast of this session was available on UStream, and the session can now be viewed on our YouTube channel. www.federalreserve.gov/events/conferences/2010/qasession/default.htm 

October 5, 2010 - Educators Participate in "A Conversation with the Chairman" - On September 30, educators from across the Eighth District participated in a full day of professional development that featured a town hall meeting with Federal Reserve Board Chairman Ben Bernanke via video conference. www.stlouisfed.org/newsroom/displayNews.cfm?article=775

October 5, 2010 - FDIC Announces Settlement With Monterey County Bank, Monterey, California, for Deceptive Practices - The Federal Deposit Insurance Corporation announced a settlement with Monterey County Bank, Monterey, California, for deceptive practices in violation of Section 5 of the Federal Trade Commission Act and Section 807 of the Fair Debt Collection Practices Act in connection with solicitations for its balance transfer credit card program (Balance Transfer Card) and debit card program. www.fdic.gov/news/news/press/2010/pr10223.html

October 5, 2010 - FDIC Issues List of Banks Examined for CRA Compliance - The Federal Deposit Insurance Corporation today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act.  www.fdic.gov/news/news/press/2010/pr10222.html

October 5, 2010 - Survey of Credit Card Plans - Terms of credit card plans offered by financial institutions through July 31, 2010.   www.federalreserve.gov/creditcard/survey.html 

October 5, 2010 - The Federal Reserve Board on Tuesday announced the execution of the following enforcement actions:  Financial Bancshares Company (17 KB PDF), Becker, Minnesota, HomeStar Financial Group, Inc. (17 KB PDF), Manteno, Illinois, and Neighborhood Bank Corporation (17 KB PDF), Palatka, Florida.  www.federalreserve.gov/newsevents/press/enforcement/20101005a.htm 

October 4, 2010 - Chairman Ben S. Bernanke - Fiscal Sustainability and Fiscal Rules - At the Annual Meeting of the Rhode Island Public Expenditure Council, Providence, Rhode Island.  www.federalreserve.gov/newsevents/speech/bernanke20101004a.htm

October 4, 2010 - NCUA - today announced the launch of a new national campaign designed to educate consumers about the benefits and purpose of the National Credit Union Share Insurance Fund, the federal fund which insures member deposits in federally insured credit unions. www.ncua.gov/news/press_releases/2010/MA10-1004Orman.pdf 

October 4, 2010 - Comptroller of the Currency Hosts Community Bank Directors Workshops in Pittsburgh - The Office of the Comptroller of the Currency will host workshops for directors of nationally chartered community banks in Pittsburgh, Pennsylvania, at the Hilton Pittsburgh Hotel, November 16-17, 2010. http://www.occ.treas.gov/ftp/release/2010-120.htm

October 4, 2010 - Regulatory Reform - Meetings and discussions with the public through October 4, 2010 - The Federal Reserve Board will be involved in many rulemakings to implement the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.   www.federalreserve.gov/newsevents/reform_meetings.htm 

October 4, 2010 - Janet L. Yellen and Sarah Bloom Raskin on Monday took the oath of office as members of the Board of Governors of the Federal Reserve System. Dr. Yellen was also sworn in as Vice Chair of the Board. The oaths were administered by Chairman Ben S. Bernanke in the Board Room. www.federalreserve.gov/newsevents/press/other/20101004a.htm

October 1, 2010 - GBC International Bank, Los Angeles, California, Assumes All of the Deposits of Shoreline Bank, Shoreline, Washington - Shoreline Bank, Shoreline, Washington, was closed today by the Washington Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with GBC International Bank, Los Angeles, California, to assume all of the deposits of Shoreline Bank. www.fdic.gov/news/news/press/2010/pr10221.html 

October 1, 2010 - Centennial Bank, Conway, Arkansas, Assumes All of the Deposits of Wakulla Bank, Crawfordville, Florida - Wakulla Bank, Crawfordville, Florida, was closed today by the Florida Office of Financial Regulation, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Centennial Bank, Conway, Arkansas, to assume all of the deposits of Wakulla Bank. www.fdic.gov/news/news/press/2010/pr10220.html

October 1, 2010 - October Burgundy Book Paints a Mixed Economic Picture for the Little Rock Regional Economy.  www.stlouisfed.org/newsroom/displayNews.cfm?article=771 

October 1, 2010 - October Burgundy Book Paints a Mixed Economic Picture for the Louisville Regional Economy.  www.stlouisfed.org/newsroom/displayNews.cfm?article=769 

October 1, 2010 - October Burgundy Book Paints a Mixed Economic Picture for the Memphis Regional Economy.   www.stlouisfed.org/newsroom/displayNews.cfm?article=768

October 1, 2010 - October Burgundy Book Shows Continued Weakness in the St. Louis Regional Economy. www.stlouisfed.org/newsroom/displayNews.cfm?article=770

October 1, 2010 - Temporary Registration of Municipal Advisors Section 975 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, Pub. L. 111-203, amended Section 15B(a) of the Securities Exchange Act of 1934 to make it unlawful for "municipal advisors," as defined in the Act, to provide certain advice to or solicit municipal entities or certain other persons without registering with the U.S. Securities and Exchange Commission www.fdic.gov/news/news/financial/2010/fil10063.html

October 1, 2010 - Consolidated Reports of Condition and Income for Third Quarter 2010 - The attached materials pertain to the Consolidated Reports of Condition and Income for the September 30, 2010, report date. Please plan to complete the preparation, editing, and review of your bank's Call Report data and the submission of these data to the agencies' Central Data Repository as early as possible. www.fdic.gov/news/news/financial/2010/fil10062.html 

October 1, 2010 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm 

October 1, 2010 - The Federal Reserve Board on Friday announced a delay in the issue date of the redesigned $100 note. This new design incorporates cutting edge, anti-counterfeiting technologies and the Federal Reserve imposes strict quality controls to ensure that users of U.S. currency around the world receive the highest quality notes. www.federalreserve.gov/newsevents/press/other/20101001b.htm 

October 1, 2010 - The Federal Reserve Board on Friday said it is forming an advisory council representing a broad group of insured community depository institutions. The Community Depository Institutions Advisory Council will provide input to the Board on the economy, lending conditions, and other issues. Members will be selected from representatives of banks, thrift institutions, and credit unions serving on newly created local advisory councils at the 12 Federal Reserve Banks. One member of each of the Reserve Bank councils will be selected by the Board to serve on the CDIAC, which will meet twice a year with the Federal Reserve Board in Washington. www.federalreserve.gov/newsevents/press/other/20101001a.htm