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

The Community Banker
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Bank Regulatory News

April 2006

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April 28, 2006 - OCC, Federal Reserve and SEC Issue Paper on Private Sector Implementation of Sound Practices to Strengthen the Resilience of the U.S. Financial System.   www.occ.treas.gov/FTP/RELEASE/Sound%20Practices%20Report%20to%20Congress%20--%20for%20Agency%20Websites%20--%20CLEAN.pdf 

April 28, 2006 - OCC Releases Quarterly Journal, Vol. 25, No. 1 (March 2006) on the Web - Includes OCC organization charts, special supervision and enforcement activities, corporate structure tables, fourth quarter 2005 condition and performance of banks, and other policy and data. www.occ.treas.gov/qj/qj.htm 

April 28, 2006 - FRB Statistical Release - G.20 Finance Companies.  www.federalreserve.gov/Releases/G20/Current/default.htm 

April 28, 2006 - Community Developments Newsletter Focuses on Foreclosure Prevention - A new OCC publication provides strategies and recommendations aimed at preserving homeownership by preventing mortgage foreclosures. www.occ.treas.gov/toolkit/newsrelease.aspx?Doc=4SDJRRN1.xml 

April 28, 2006 - Governor Susan Schmidt Bies - A Bank Supervisor's Perspective on Enterprise Risk Management - At the Enterprise Risk Management Roundtable, North Carolina State University, Raleigh, North Carolina www.federalreserve.gov/boarddocs/speeches/2006/20060428/default.htm  __________________

April 27, 2006 - Comptroller of the Currency Hosts Community Bank Directors Risk Assessment Workshop in Harrisburg, Pa. - The Office of the Comptroller of the Currency will host a workshop for national community bank directors at the Hilton Hotel, Harrisburg, Pa., on May 23. www.occ.treas.gov/toolkit/newsrelease.aspx?Doc=ZSQPUH5L.xml 

April 27, 2006 - Deposit Insurance Fund Merger of Bank Insurance Fund and Savings Association Insurance Fund - The Federal Deposit Insurance Corporation merged the Bank Insurance Fund and the Savings Association Insurance Fund to form the Deposit Insurance Fund, effective March 31, 2006. This action was pursuant to the provisions in the Federal Deposit Insurance Reform Act of 2005. The FDIC has amended its regulations to reflect the funds merger. www.fdic.gov/news/news/financial/2006/fil06036.html 

April 27, 2006 - Gale Simons-Poole Appointed Deputy Regional Director of FDIC's Atlanta Regional Office - Gale Simons-Poole has been appointed to the position of Deputy Regional Director of the FDIC Division of Supervision and Consumer Protection's Atlanta Region, Acting DSC Director Sandra L. Thompson announced today. www.fdic.gov/news/news/press/2006/pr06041.html 

April 27, 2006 - Reports to the Congress - Efforts of the Private Sector to Implement the Interagency Paper on Sound Practices to Strengthen the Resilience of the U.S. Financial System.  www.federalreserve.gov/pubs/reports_other.htm 

April 27, 2006 - Testimony of Chairman Ben S. Bernanke - Outlook for the U.S. economy - Before the Joint Economic Committee, U.S. Congress April 27, 2006.  www.federalreserve.gov/BoardDocs/Testimony/2006/20060427/default.htm 

April 27, 2006 - Governor Donald L. Kohn - Business Capital Spending - At the Forecasters Club of New York Luncheon, New York, New York.   www.federalreserve.gov/boarddocs/speeches/2006/20060427/default.htm 

April 27, 2006 - NCUA General Counsel Opinion 06-0332 - Components of Security Response Program.   www.ncua.gov/RegulationsOpinionsLaws/opinion_letters/2006/06-0332.pdf 

April 26, 2006 - FinCEN and OTS Issue Bank Secrecy Act Enforcement Orders Against BankAtlantic - The Financial Crimes Enforcement Network and the Office of Thrift Supervision announced today that each has assessed a $10 million civil money penalty against BankAtlantic of Fort Lauderdale, Florida, for violations of the Bank Secrecy Act. www.ots.treas.gov/docs/7/776020.html 

April 26, 2006 - Fair Lending Examination Procedures, April 2006 - Revised Consumer Compliance booklet in the Comptroller's Handbook makes note of several changes in Regulation B and incorporates the "Interagency Fair Lending Procedures" issued in 2004. www.occ.treas.gov/handbook/fairlep.pdf

April 26, 2006 - Community Reinvestment Act: Income Level, Median Family Income - U.S. Census and Department of Housing and Urban Development data are used to determine income levels of geographies in Community Reinvestment Act performance evaluations.
Press Release: www.occ.treas.gov/ftp/bulletin/2006-21.txt 
Attachment: www.occ.treas.gov/ftp/bulletin/2006-21a.pdf 

April 26, 2006 - Beige Book - Informal review by the Federal Reserve Banks of current economic conditions in their Districts.   www.federalreserve.gov/FOMC/BeigeBook/2006/20060426/default.htm 

April 25, 2006 - NCUA - National Credit Union Administration Chairman JoAnn Johnson released the following statement regarding the resignation of Hector V. Barreto, Administrator of the U.S. Small Business Administration.  www.ncua.gov/news/press_releases/2006/NR06-0425-2.htm 

April 25, 2006 - NCUA - Yankton Employees Federal Credit Union Closes - Member funds are federally insured and checks will be issued within five business days - The National Credit Union Administration has liquidated Yankton Employees Federal Credit Union of Yankton, South Dakota. www.ncua.gov/news/press_releases/2006/NR06-0425.htm 

April 25, 2006 - Comptroller of the Currency Promotes Financial Literacy at Capitol Hill Event - The Office of Comptroller of the Currency participated in the Financial Literacy Fair on Capitol Hill today to promote awareness of agency efforts to educate and support American consumers of financial services. www.occ.treas.gov/toolkit/newsrelease.aspx?Doc=T40IW6ZF.xml 

April 25, 2006 - The U.S. Current Account Deficit and the Expected Share of World Output - Charles Engel; John H. Rogers - We investigate the possibility that the large current account deficits of the U.S. are the outcome of optimizing behavior. We develop a simple long-run world equilibrium model in which the current account is determined by the expected discounted present value of its future share of world GDP relative to its current share of world GDP. www.federalreserve.gov/pubs/ifdp/2006/856/ifdp856.htm 

April 25, 2006 - The Federal Reserve Board on Tuesday released the minutes of its discount rate meetings from February 6 through March 28, 2006. www.federalreserve.gov/boarddocs/press/monetary/2006/20060425/default.htm 

April 24, 2006 - The Federal Reserve Board on Monday announced the execution of a Written Agreement by and among The Bank of New York; the New York State Banking Department; and the Federal Reserve Bank of New York. www.federalreserve.gov/boarddocs/press/Enforcement/2006/20060424/default.htm 

April 24, 2006 - The Federal Reserve Board on Monday announced the issuance of an Order of Prohibition against David Cronin, previously Executive Vice-President and Treasurer of the former Allfirst Bank, Baltimore, Maryland. www.federalreserve.gov/boarddocs/press/Enforcement/2006/200604242/default.htm 

April 24, 2006 - The Federal Reserve Board on Monday announced the issuance of an Order of Prohibition against Robert Ray, previously Senior Vice-President of Treasury Funds Management of the former Allfirst Bank, Baltimore, Maryland. www.federalreserve.gov/boarddocs/press/Enforcement/2006/200604243/default.htm 

April 24, 2006 - The Federal Reserve Board on Monday announced the execution of a Written Agreement by and among Sella Holding Banca, S.p.A., Biella, Italy; Sella Holding Banca, S.p.A. Miami Agency, Miami, Florida; the State of Florida Office of Financial Regulation, Tallahassee, Florida; and the Federal Reserve Bank of Atlanta. www.federalreserve.gov/boarddocs/press/Enforcement/2006/200604244/default.htm 

April 24, 2006 - Comptroller of the Currency Hosts Community Bank Directors Workshop - The Office of the Comptroller of the Currency will host a workshop for national community bank directors at the Park Hotel, Charlotte, N.C., on May 16. www.occ.treas.gov/toolkit/newsrelease.aspx?Doc=BJO1KIGP.xml 

April 24, 2006 - USA Patriot Act Extension of Applicability Dates for Implementing International Correspondent Banking Provisions and Private Banking Provisions of Section 312 - The Financial Crimes Enforcement Network has issued the attached final rule extending, in part, the applicability dates for implementing the international correspondent banking provisions and the private banking provisions of Section 312 of the USA PATRIOT Act. www.fdic.gov/news/news/financial/2006/fil06035.html 

April 21, 2006 - NCUA Vice Chairman Hood Encourages Credit Unions To Take Proactive Steps in Managing Credit Union Members' Data Security and Combating Credit Card Fraud.   www.ncua.gov/news/press_releases/2006/NR06-0421-2.htm 

April 21, 2006 - NCUA - Chairman Johnson to deliver remarks at Midwest Regional Conference in Chicago, Illinois on May 1 - National Credit Union Administration Chairman JoAnn Johnson will deliver remarks in Chicago, Illinois on May 1 at the Midwest Regional Conference on Reaching Unbanked People, an event organized in conjunction with the recent launch of The National Strategy for Financial Literacy adapted by the Financial Literacy and Education Commission. www.ncua.gov/news/press_releases/2006/NR06-0421.htm 

April 21, 2006 - Class Action Fairness Act of 2005: Guidance for Filing Notices of Proposed Class Action Settlements - Class Action Fairness Act requires national banks and federal branches and agencies to notify the OCC of proposed class action settlements involving OCC-regulated matters.
Press Release: www.occ.treas.gov/ftp/bulletin/2006-20.txt  
Attachment: http://frwebgate.access.gpo.gov/cgi-bin/useftp.cgi?IPaddress=

April 21, 2006 - FDIC Announces Appointment of Sylvia H. Plunkett as Chicago Regional Director - Acting Federal Deposit Insurance Corporation Division of Supervision and Consumer Protection Director Sandra L. Thompson today announced the appointment of Sylvia H. Plunkett as Regional Director of the Division of Supervision and Consumer Protection's Chicago Region. www.fdic.gov/news/news/press/2006/pr06040.html  _________________

April 20, 2006 - Comptroller Dugan Expresses Concern about New Types of Mortgages That Offer Low Initial Monthly Payments, but Higher Payments Later - Comptroller of the Currency John C. Dugan told a community development conference today that new types of mortgages aimed at making homes more affordable may offer low monthly payments initially, but will lead to significantly higher payments later.
Press Release: www.occ.treas.gov/toolkit/newsrelease.aspx?Doc=ZL7ERCCB.xml 
Attachment: www.occ.treas.gov/ftp/release/2006-48a.pdf 

April 20, 2006 - OCC Releases CRA Evaluations For 22 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 March 15, 2005 through April 14, 2006. www.occ.treas.gov/toolkit/newsrelease.aspx?Doc=JCOVYZLC.xml 

April 20 2006 - OCC Announces New Electronic Interpretations and Actions - April 2006. www.occ.treas.gov/interp/apr06/intapr06.htm 

April 20, 2006 - Chairman Ben S. Bernanke - By the Numbers: Data and Measurement in Community Economic Development At the Greenlining Institute's Thirteenth Annual Economic Development Summit, Los Angeles, California.   www.federalreserve.gov/boarddocs/speeches/2006/20060420/default.htm 

April 20, 2006 - The Federal Reserve Board on Thursday announced the termination of the enforcement actions AmSouth Bancorporation and AmSouth Bank, Birmingham, Ala. Cease and Desist Order dated October 12, 2004 Terminated April 20, 2006 www.federalreserve.gov/boarddocs/press/Enforcement/2006/20060420/default.htm

April 20, 2006 - NCUA - Final Rule - Federal Credit Union Bylaws - NCUA is adopting changes to update, clarify and simplify the Federal Credit Union Bylaws. The changes eliminate unnecessary provisions and increase the readability of the Bylaws by adding staff commentary on frequently-asked questions, new section headings and increased use of plain English. FCUs who have previously adopted Bylaws may adopt these Bylaws in whole or in part, or they may retain their current Bylaws. www.ncua.gov/RegulationsOpinionsLaws/RecentFinalRegs/F-FCUBylawspdf.pdf 

April 20, 2006 - NCUA - Final Rule - Truth in Savings - As required by the Truth in Savings Act, NCUA is finalizing its rule and official staff interpretation to address the uniformity and adequacy of information provided to members when they overdraw their share accounts. The amendments address services referred to as "bounced-check protection" or "courtesy overdraft protection" that credit unions may use to pay members. www.ncua.gov/RegulationsOpinionsLaws/RecentFinalRegs/F-707.pdf 

April 20, 2006 - NCUA - Results of 4/20/2006 NCUA Board Meeting.  www.ncua.gov/NCUABoard/board_reports/BAB06-0420.pdf 

April 20, 2006 - Several additions were made to the Uniform Bank Performance Report as of March 31, 2006. To the extent possible these changes were made retroactively. Please refer to the attached copies of pages showing new ratios in bolded type. The changes involve a comparing the allowance for loan and lease losses to loans not held for sale, addition of several new concentrations of credit ratios on a separate page and new detail on other real estate owned. www.ffiec.gov/PDF/UBPR/UBPR_changes_200603.pdf 

April 20 2006 - Structure and Share Data for U.S. Offices of Foreign Banks - Structure and share data are collected as of the end of the month for March, June, September, and December and generally are released four months after the as-of month. www.federalreserve.gov/Releases/Iba/default.htm

April 19, 2006 - NCUA Vice Chairman Rodney Hood Highlights the Performance of America's Credit Unions in Helping Small Businesses Prosper - As part of President Bush's National Small Business Week, National Credit Union Administration Vice Chairman Rodney E. Hood visited two Texas credit union service organizations active in helping credit unions assist small businesses. www.ncua.gov/news/press_releases/2006/NR06-0419.htm 

April 19, 2006 - Launch of Shawnee Ventures LLC, a new community investment fund to fill the gap between conventional debt financing and pure venture capital. - Federal Reserve Bank of St. Louis and the Southern Illinois Entrepreneurship Center at Southern Illinois University-Carbondale.   www.stlouisfed.org/news/releases/2006/04_19_06.htm 

April 19, 2006 - Office of the Comptroller of the Currency Publishes BrochureFor Spanish-Speaking Customers of National Banks - The Office of the Comptroller of the Currency announced today that it is publishing Spanish-language materials explaining the agency's consumer assistance programs. www.occ.treas.gov/toolkit/newsrelease.aspx?Doc=1L94TM2K.xml 

April 19, 2006 - Compliance Examinations Revised Examination Procedures - The FDIC has issued revised compliance examination procedures that update the procedures issued in 2003. The new examination procedures incorporate banker feedback and results of internal reviews. www.fdic.gov/news/news/financial/2006/fil06034.html 

April 19, 2006 - The Federal Reserve Board announced Wednesday the consolidation of two internal advisory committees on payments system matters. The duties of the Payments System Policy Advisory Committee will be expanded to encompass the responsibilities and activities of the Payments System Development Committee, including its public outreach efforts. The Payments System Development Committee will be discontinued. www.federalreserve.gov/boarddocs/press/other/2006/200604192/default.htm 

April 19, 2006 - The Federal Reserve Board on Wednesday announced its new Data Download application, which provides interactive access to Federal Reserve statistical data in a variety of electronic formats. Data Download is the first application to allow custom data packages to be created in SDMX-ML, a technical statistical data standard that is gaining support among central banks and statistical agencies. www.federalreserve.gov/boarddocs/press/other/2006/20060419/default.htm 

April 18, 2006 - NCUA - Disaster Planning and Response - Letter to Credit Unions - Influenza Pandemic Preparedness.   www.ncua.gov/letters/RiskAlert/2006/06-Risk-01.pdf 

April 18, 2006 - The Federal Reserve Board and the Federal Open Market Committee on Tuesday released the attached minutes of the Committee meeting held on March 27-28, 2006. www.federalreserve.gov/boarddocs/press/monetary/2006/20060418/default.htm 

April 18, 2006 - NCUA Hosts First Access Across America Summit of 2006 - National Credit Union Administration hosted the first Access Across America Economic Empowerment Summit of 2006 in Dallas, TX. Credit union officials in Texas and surrounding states were invited to attend the free one-day summit. www.ncua.gov/news/press_releases/2006/NR06-0412.htm 

April 17, 2006 - 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. www.occ.treas.gov/ftp/release/2006-46.htm 

April 17, 2006 - NCUA Board Member Hyland Visits Hurricane-affected Credit Unions in New Orleans.  www.ncua.gov/news/press_releases/2006/NR06-0417.htm 

April 17, 2006 - Reports of Examinations of Government Securities Activities - This letter reduces the reporting requirements for examinations of government securities custodial activities of state member banks, branches, and agencies. Under AD 91-26, Reserve Banks are required to file with Board staff a separate report form FR 1468 for each government securities broker or government securities dealer examination, and each review of stand-alone government securities custodial activities. www.federalreserve.gov/boarddocs/srletters/2006/SR0608.htm 

April 17, 2006 - Vice Chairman Roger W. Ferguson, Jr. - Thoughts on Financial Stability and Central Banking - At the Conference on Modern Financial Institutions, Financial Markets, and Systemic Risk, Federal Reserve Bank of Atlanta, Atlanta, Georgia.   www.federalreserve.gov/boarddocs/speeches/2006/20060417/default.htm 

April 14, 2006 - FRB Reports to the Congress - Annual Report: Budget Review, 2006.  www.federalreserve.gov/boarddocs/rptcongress/default.htm#br

April 14, 2006 - Industrial Production And Capacity Utilization - Industrial production increased 0.6 percent in March after a downward-revised gain of 0.5 percent in February. For the first quarter as a whole, industrial production rose at an annual rate of 4.5 percent. www.federalreserve.gov/Releases/G17/Current/default.htm

April 13, 2006 - Fair and Accurate Credit Transactions Act, Section 312: Advance Notice of Proposed Rulemaking - Proposed rule would fulfill interagency requirement that persons who furnish information to consumer reporting agencies follow guidelines to ensure the accuracy of that information.
Press Release: www.occ.treas.gov/ftp/bulletin/2006-18.txt 
Attachment: www.occ.treas.gov/fr/fedregister/71fr14419.pdf 

April 13, 2006 - Marquette High Captures First Place in District Fed Challenge - A team of students from Marquette High School in Chesterfield, Mo., earned first place in the Federal Reserve's Eighth District "Fed Challenge," an economics competition sponsored by the Federal Reserve Bank of St. Louis. www.stlouisfed.org/news/releases/2006/04_13_06.htm 

April 13, 2006 - Governor Mark W. Olson - Update on the U.S. economy - At the University of Arkansas at Little Rock, Little Rock, Arkansas.   www.federalreserve.gov/boarddocs/speeches/2006/200604132/default.htm

April 13, 2006 - NCUA - Agenda for the 4/20/2006 NCUA Board meeting is available.  www.ncua.gov/NCUABoard/Calendars/board_calendar/ag06-0420.htm 

April 13, 2006 - Governor Donald L. Kohn - Economic outlook - At the Bankers and Business Leaders Luncheon, Federal Reserve Bank of Kansas City, Oklahoma City Branch, Oklahoma.  www.federalreserve.gov/boarddocs/speeches/2006/20060413/default.htm 

April 13, 2006 - NCUA General Counsel Opinion 06-0326 - Special Meetings of Members.   www.ncua.gov/RegulationsOpinionsLaws/opinion_letters/2006/06-0326.pdf 

April 13, 2006 - Retirement-Age Baby Boomers Expected to Reshape Outlook for Pensions, Housing and Financial Services - FDIC Analysts Report on Financial Implications of Aging "Baby Boom" Demographics - As the nation's 76 million "baby boomers" (born between 1946 and 1964) enter their sixties, they will come face-to-face with the challenges of financing their retirement and will reshape U.S. markets for housing and financial services, according to the Spring 2006 issue of the FDIC Outlook. www.fdic.gov/news/news/press/2006/pr06039.html 

April 12, 2006 - NCUA General Counsel Opinion 05-0903 - Skip-A-Payment Disclosures.   www.ncua.gov/RegulationsOpinionsLaws/opinion_letters/2005/05-0903.pdf 

April 12, 2006 - The Federal Reserve Board on Wednesday announced the termination of the enforcement action against Caisse Nationale de Credit Agricole, Paris, France, Credit Agricole Indosuez, Paris, France, and Credit Agricole Indosuez, New York Branch. www.federalreserve.gov/boarddocs/press/Enforcement/2006/20060412/default.htm 

April 12, 2006 - OTS Revises CRA Definition of Community Development; Updates CRA Questions and Answers Guidance - The Office of Thrift Supervision published today in the Federal Register a Final Rule revising the definition of "community development" in its Community Reinvestment Act regulations. At the same time, OTS also published a Notice and Request for Comment on proposed revisions to OTS's CRA guidance, currently contained in the "Interagency Questions and Answers Regarding Community Reinvestment." www.ots.treas.gov/docs/7/776019.html 

April 11, 2006 - NCUA -Financial Literacy Headlines Chairman Johnson's Agenda - Chairman JoAnn Johnson addresses financial education in Madison, Wisconsin, and elsewhere.  www.ncua.gov/news/press_releases/2006/NR06-0411.htm

April 11, 2006 - Consolidation of Interagency CRA Examination Procedures - Members of the FFIEC Task Force on Consumer Compliance recently approved the attached revised Community Reinvestment Act examination procedures for Large Banks, Small Banks, Wholesale/Limited Purpose Banks, and Strategic Plan Banks. www.federalreserve.gov/boarddocs/caletters/2006/0609/caltr0609.htm 

April 10, 2006 - Statistical Release - U.S. Reserve Assets; Foreign Official Assets Held at Federal Reserve Banks - Statistical Supplement to the Federal Reserve Bulletin, March 2006.  www.federalreserve.gov/Releases/bulletin/0306assets.htm 

April 10, 2006 - Statistical Release - E.15 Agricultural Finance Databook - Amount and Characteristics of Farm Loans Made by Commercial Banks. Selected Statistics from the Quarterly Reports of Condition of Commercial Banks, Reserve Bank Surveys of Farm Credit Conditions and Farm Land Values.  www.federalreserve.gov/Releases/E15/default_2006.htm 

April 10, 2006 - NCUA - HUD Official To Keynote NCUA's Access Across America Economic Empowerment Summit this week in Dallas.  www.ncua.gov/news/press_releases/2006/NR06-0410.htm 

April 10, 2006 - Delivery of Special Alerts Electronic Distribution to Become Primary Method - On June 1, 2006, the FDIC will begin using the electronic delivery of Special Alerts - through its free secure Web site, FDICconnect - as its primary method of distribution to insured financial institutions. Institutions that are unable to receive SAs electronically must complete and return the attached paper-delivery request form to the FDIC by May 15, 2006. www.fdic.gov/news/news/financial/2006/fil06032.html 

April 10, 2006 - Community Reinvestment Act Interagency Examination Procedures - The FDIC, the Federal Reserve Board, and the Office of the Comptroller of the Currency have issued new interagency Community Reinvestment Act examination procedures for intermediate small institutions and have revised the existing CRA examination procedures for small institutions, large institutions, wholesale and limited purpose institutions, and institutions under a strategic plan. www.fdic.gov/news/news/financial/2006/fil06033.html 

April 10, 2006 - Governor Susan Schmidt Bies - A Risk-Management Perspective on Recent Regulatory Proposals - At the America's Community Bankers Risk Management and Finance Forum, Naples, Florida.  www.federalreserve.gov/boarddocs/speeches/2006/200604102/default.htm 

April 10, 2006 - Governor Mark W. Olson - Enterprise-Wide Compliance-Risk Management - At the Fiduciary and Investment Risk Management Association's Twentieth Anniversary Training Conference, Washington, D.C. www.federalreserve.gov/boarddocs/speeches/2006/20060410/default.htm

April 7, 2006 - Statistical Release - G.19 Consumer Credit - Consumer credit increased at an annual rate of 1-3/4 percent in February. Both revolving and nonrevolving credit posted small gains. www.federalreserve.gov/Releases/G19/Current/default.htm 

April 7, 2006 - Community Reinvestment Act: Interagency Examination Procedures for Large, Small, Wholesale/Limited Purpose, and Strategic Plan Institutions - Financial regulators updated examination procedures to reflect recent revisions to CRA regulations regarding Large, Small, Wholesale/Limited Purpose, and Strategic Plan institutions.
Press Release: www.occ.treas.gov/ftp/bulletin/2006-17.txt 
Attachment: www.occ.treas.gov/ftp/bulletin/2006-17a.pdf 
Attachment: www.occ.treas.gov/ftp/bulletin/2006-17c.pdf 
Attachment: www.occ.treas.gov/ftp/bulletin/2006-17b.pdf 
Attachment: www.occ.treas.gov/ftp/bulletin/2006-17d.pdf 

April 7, 2006 - Fair and Accurate Credit Transactions Act - Procedures for Enhancing the Accuracy and Integrity of Information Furnished to Consumer Reporting Agencies - The FDIC, the other federal financial institution regulatory agencies and the Federal Trade Commission have jointly published the attached Advance Notice of Proposed Rulemaking. The ANPR invites comment to gather information that is useful for developing guidelines and rules to enhance the accuracy and integrity of information furnished to consumer reporting agencies, pursuant to Section 312 of the Fair and Accurate Credit Transactions Act. www.fdic.gov/news/news/financial/2006/fil06031.html

April 6, 2006 - NCUA - Potter's House Federal Credit Union Closes - Member funds are federally insured and checks will be issued within five business days - The National Credit Union Administration today liquidated Potter's House Federal Credit Union of Jacksonville, Florida. www.ncua.gov/news/press_releases/2006/NR06-0406.htm 

April 6, 2006 - OTS Sounds Warning on Credit Quality - At a speech before the New York Bankers Association today, Office of Thrift Supervision Director John Reich expressed concerns about weakening credit quality with some financial institutions. www.ots.treas.gov/docs/7/776018.html 

April 6, 2006 - Community Redevelopment Act: Interagency Questions and Answers - Questions and Answers address topics such as the asset threshold for small banks and the new category of "intermediate small banks" in recently revised CRA regulations.
Press Release: www.occ.treas.gov/ftp/bulletin/2006-16.txt 
Attachment: www.occ.treas.gov/fr/fedregister/71fr12424.pdf 

April 6, 2006 - Comptroller Dugan Tells Bankers Commercial Real Estate Concentrations Raise Concerns, but Can Be Safe if Effectively Managed - Comptroller of the Currency John C. Dugan told a conference of bankers today that while concentrations in commercial real estate lending do raise safety and soundness concerns, bank regulators believe they can be safe if they are effectively managed. www.occ.treas.gov/toolkit/newsrelease.aspx?Doc=05808KX8.xml 

April 6, 2006 - Governor Randall S. Kroszner - The Effect of Removing Geographic Restrictions on Banking in the United States: Lessons for Europe - At the Conference on the Future of Financial Regulation, London School of Economics, London.  www.federalreserve.gov/boarddocs/speeches/2006/20060406/default.htm 

April 5, 2006 - FDIC Announces Final Agenda for Public Hearings on the Proposed Wal-Mart Bank's Application for Federal Deposit Insurance - The final agenda for the April public hearings on the proposed Wal-Mart Bank's federal deposit insurance application is now available on the FDIC's Web site. The agenda includes the names of parties who are scheduled to give oral presentations as well as the speaking times and the locations where the parties are scheduled to speak. www.fdic.gov/news/news/press/2006/pr06038.html 

April 5, 2006 - NCUA - Letter to Credit Unions 06-CU-07 - IT Security Compliance Guide.  www.ncua.gov/letters/2006/CU/06-CU-07Encl.pdf 

April 5, 2006 - 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. The list covers evaluation ratings that the FDIC assigned to institutions in January 2006. www.fdic.gov/news/news/press/2006/pr06037.html 

April 5, 2006 - Chairman Ben S. Bernanke - Financial Education and the National Jump$tart Coalition Survey - At the Jump$tart Coalition for Personal Financial Literacy and Federal Reserve Board joint news conference, Washington, D.C. www.federalreserve.gov/boarddocs/speeches/2006/20060405/default.htm 

April 4, 2006 - National Credit Union Administration Issues Prohibition Orders - The National Credit Union Administration has issued orders prohibiting each of the following individuals from participating in any manner in the affairs of federally insured financial institutions.   www.ncua.gov/news/press_releases/2006/NR06-0404-2.htm 

April 4, 2006 - NCUA - St. Charles Borromeo Church FCU Closes - The National Credit Union Administration (NCUA) today liquidated St. Charles Borromeo Church Federal Credit Union of New York, New York. www.ncua.gov/news/press_releases/2006/NR06-00404.htm 

April 4, 2006 - Unauthorized Banking: Trinity Savings Bank, Ltd. Nassau, Bahamas - An entity calling itself Trinity Savings Bank, Ltd. in Nassau, Bahamas, is not authorized by the OCC to conduct banking business in the United States. www.occ.treas.gov/ftp/alert/2006-18.txt 

April 4, 2006 - U.S. Regional Banking and Economic Performance Remained Strong into Early 2006 - FDIC analysts identify flat yield curve and slowing housing markets as possible sources of concern for the remainder of year - Despite regional disparities in job growth and a high degree of reliance on real estate, the economy and the banking industry both continue to perform well across most areas of the nation, FDIC analysts reported in the spring 2006 editions of FDIC Regional Profile and FDIC State Profiles released today. www.fdic.gov/news/news/press/2006/pr06036.html 

April 4, 2006 - Federal Open Market Committee - 2000 meeting transcripts.  www.federalreserve.gov/fomc/transcripts/transcripts_2000.htm 

April 3, 2006 - NCUA - Chairman Johnson Joins Treasury Secretary Snow Introducing Financial Literacy Strategy - National Credit Union Administration Chairman JoAnn Johnson will join Secretary of the Treasury John W. Snow, Members of Congress, and partner government officials as the Financial Literacy and Education Commission launches the National Strategy for Financial Literacy, a next step in the Commissions effort to help Americans learn more about their money. www.ncua.gov/news/press_releases/2006/NR06-0403.htm 

April 3, 2006 - Is the U.S. Current Account Deficit Dangerous? - Numerous academics, economics reporters and policymakers have expressed much concern regarding the U.S. current account deficit in recent years, but an analysis from the Federal Reserve Bank of St. Louis suggests that if U.S. monetary and fiscal authorities maintain sound policies, a "hard landing" would be unlikely. www.stlouisfed.org/news/releases/2006/04_03_06a.htm 

April 3, 2006 - St. Louis Fed's The Regional Economist: Is the U.S. Current Account Deficit Dangerous?; Social Changes Lead Married Women into Labor Force; Home Ownership: Movin' On Up; District Overview: Job Trends in Jefferson City, Springfield and Columbia, Mo., and Little Rock, Ark.; Community Profile: Jeffersonville, Ind. www.stlouisfed.org/news/releases/2006/04_03_06b.htm 

April 3, 2006 - A Fully-Rational Liquidity-Based Theory of IPO Underpricing and Underperformance - Matthew Pritsker - I present a fully-rational symmetric-information model of an IPO, and a dynamic imperfectly competitive model of trading in the IPO aftermarket. The model helps to explain IPO underpricing, underperformance, and why share allocations favor large institutional investors. www.federalreserve.gov/pubs/feds/2006/200612/200612abs.html 

April 3, 2006 - Credit Market Competition and Capital Regulation - Franklin Allen, Elena Carletti, and Robert Marquez - Market discipline for financial institutions can be imposed not only from the liability side, as has often been stressed in the literature on the use of subordinated debt, but also from the asset side. www.federalreserve.gov/pubs/feds/2006/200611/index.html 

April 3, 2006 - Forecasting Professional Forecasters - Eric Ghysels and Jonathan H. Wright - Survey of forecasters, containing respondents' predictions of future values of growth, inflation and other key macroeconomic variables, receive a lot of attention in the financial press, from investors, and from policy makers. www.federalreserve.gov/pubs/feds/2006/200610/index.html 

April 3, 2006 - Statistical Release - G.5 Foreign Exchange Rates - The Table Below Shows The Average Rates Of Exchange In March 2006 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. www.federalreserve.gov/Releases/g5/current/default.htm 

April 3, 2006 - Agencies Announce Updated Answers to Frequently Asked Questions About HMDA Price Data - The federal bank, credit union, and thrift supervisory agencies, along with the Department of Housing and Urban Development, today released updated "Answers to Frequently Asked Questions" to aid interpretation of the 2005 home loan data to be disclosed this year under the Home Mortgage Disclosure Act.
Press Release: www.federalreserve.gov/boarddocs/press/bcreg/2006/20060403/default.htm 
Press Release: www.occ.treas.gov/toolkit/newsrelease.aspx?JNR=1&Doc=IGNZYPJ.xml 
Press Release: www.ots.treas.gov/docs/7/776017.html 
Press Release: www.fdic.gov/news/news/press/2006/pr06035.html
Press Release: www.ncua.gov/news/press_releases/2006/JR06-0401.pdf 

April 3, 2006 - Governor Randall S. Kroszner - Central Counterparty Clearing: History, Innovation, and Regulation - At the European Central Bank and Federal Reserve Bank of Chicago Joint Conference on Issues Related to Central Counterparty Clearing, Frankfurt, Germany.  www.federalreserve.gov/boarddocs/speeches/2006/20060403/default.htm 


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