Bank
Regulatory News
August 2004
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August 31, 2004 - NCUA - Matz Names Credit Union Speakers for PALS
Workshop Featuring Senator Clinton - NCUA Board Member Debbie Matz has put
together a diverse lineup of speakers to join U.S. Senator Hillary Rodham
Clinton at NCUA's free Partnering and Leadership Successes workshop on Oct.
11 in Rochester.
www.ncua.gov/news/press_releases/2004/NR04-0831-2.htm
August 31, 2004 - Treasury Secretary John Snow to Keynote Ohio Credit Union
Forum - National Credit Union Administration Board Chairman JoAnn Johnson is
pleased to announce that Treasury Secretary John Snow will keynote the
Chairman's Forum for Credit Unions in Lima, Ohio, Friday, September 10.
www.ncua.gov/news/press_releases/2004/NR04-0831.htm
August 31, 2004 - Tax Lien Certificates - In recent years, banks have
increased their holdings of tax lien certificates, in part, because of
active marketing by third-party vendors and also because of their
comparatively higher yields in a low interest rate environment. This
document describes the risk management practices that the Office of the
Comptroller of the Currency expects banks to exercise when purchasing tax
lien certificates.
www.occ.treas.gov/ftp/bulletin/2004-39.txt
August 31, 2004 - Electronic Deposit Insurance Estimator - Banker Version
2.0 - Now Available - The FDIC is releasing a new, updated version of its
interactive deposit insurance calculator to help bankers provide accurate
information about deposit insurance coverage to customers.
www.fdic.gov/news/news/financial/2004/fil10004.html
August 31, 2004 - The Federal Reserve Board on Tuesday announced its
approval of the application and notice by National City Corporation,
Cleveland, to acquire Wayne Bancorp, Inc., Wooster, both in Ohio.
www.federalreserve.gov/boarddocs/press/orders/2004/20040831/default.htm
August 31, 2004 - Banking Agencies Announce 2005 Implementation for
Web-Based Central Data Repository for Bank Financial Data - The federal
banking agencies announced today that they will target implementation of the
Central Data Repository for one of the first two Call Report periods of
2005.
Press Release:
www.federalreserve.gov/boarddocs/press/other/2004/20040831/default.htm
Press Release:
www.fdic.gov/news/news/press/2004/pr9004.html
Press Release:
www.occ.treas.gov/scripts/newsrelease.aspx?JNR=1&Doc=LDUP5AHP.xml
August 30, 2004 - NCUA - Small Credit Union Program Workshop in Portland,
OR, Honolulu, HI, Tempe, AZ and Las Vegas, NV.
www.ncua.gov/CreditUnionDevelopment/SCUP/R5/R5Events.htm
August 30, 2004 - The UBPR web site has undergone several changes since it
was first made available three years ago. This latest set of enhancements
expands the export capabilities for the standard Uniform Bank Performance
Report and extends the capabilities of the UBPR Custom Peer Report.
www.ffiec.gov/ubpr_memo_20040830.htm
August 30, 2004 - FDIC Issues Fourth Quarter 2004 CRA Examination Schedule -
The Federal Deposit Insurance Corporation has issued the public list of
institutions that it has scheduled for a Community Reinvestment Act
examination during the fourth quarter of 2004.
www.fdic.gov/news/news/press/2004/pr8904.html
_______________
August 27, 2004 - OCC Releases Fourth Quarter Edition of Quarterly
Journal on the Web - This issue features an "About the OCC" section that
contains organization charts and complete lists of Comptrollers, senior
deputy comptrollers, and deputy comptrollers. Also featured are the final
public documents on preemption and visitorial powers, as well as the report
on special supervision and enforcement activities.
www.occ.treas.gov/qj/qj.htm
August 27, 2004 - The SAR Activity Review (Seventh Edition) - The Financial
Crimes Enforcement Network issues the seventh edition of The SAR Activity
Review.
www.fdic.gov/news/news/financial/2004/fil9804.html
August 27, 2004 - Chairman Alan Greenspan - Opening remarks At a symposium
sponsored by the Federal Reserve Bank of Kansas City, Jackson Hole, Wyoming.
www.federalreserve.gov/boarddocs/speeches/2004/20040827/default.htm
August 26, 2004 - FRB Statistical Release - G.20 Finance Companies
www.federalreserve.gov/Releases/G20/Current/default.htm
August 26, 2004 - Banking Agencies Issue Host State Loan-to-Deposit Ratios -
The Board of Governors of the Federal Reserve System, the Federal Deposit
Insurance Corporation, and the Office of the Comptroller of the Currency
today issued the host state loan-to-deposit ratios that the banking agencies
will use to determine compliance with section 109 of the Riegle-Neal
Interstate Banking and Branching Efficiency Act of 1994.
Press Release:
www.occ.treas.gov/scripts/newsrelease.aspx?JNR=1&Doc=OGDCFARD.xml
Attachment:
www.occ.treas.gov/ftp/release/2004-72a.pdf
Press Release:
www.fdic.gov/news/news/financial/2004/fil9904.html
Press Release:
www.federalreserve.gov/boarddocs/press/bcreg/2004/20040826/default.htm
August 26, 2004 - Guidance on Operations and Wholesale Payment Systems
Released by Federal Financial Institution Regulators - The Federal Financial
Institutions Examination Council today issued revised guidance for
examiners, financial institutions, and technology service providers on two
topics: information technology operations and wholesale payment systems.
Press Release:
www.ffiec.gov/press/pr082604.htm
Press Release:
www.ots.treas.gov/docs/7/77436.html
Press Release:
www.ncua.gov/news/press_releases/2004/JR04-0826.pdf
Press Release:
www.fdic.gov/news/news/press/2004/pr8804.html
August 26, 2004 - FDIC Makes Public July 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 July. No administrative
hearings are scheduled for September.
www.fdic.gov/news/news/press/2004/pr8704.html
August 26, 2004 - Bank and Thrift Earnings Just Below Record Level in Second
Quarter - Commercial banks and savings institutions insured by the Federal
Deposit Insurance Corporation earned net income of $31.2 billion in the
second quarter of 2004, the second highest total ever.
www.fdic.gov/news/news/press/2004/pr8604.html
August 25, 2004 - 12 CFR 229 (Regulation CC): Availability of Funds and
Collection of Checks Description: Final Rule Implementing Check Clearing for
the 21st Century Act - This bulletin states that on July 26, 2004, the
Federal Reserve Board released final amendments to Regulation CC and its
commentary to implement the Check Clearing for the 21st Century Act, which
was enacted on October 28, 2003, and becomes effective on October 28, 2004.
www.occ.treas.gov/ftp/bulletin/2004-38.txt
August 25, 2004 - Unauthorized Banking: First National Bank of Bedrock,
Fictitious Internet Bank - This issuance notifies national banks and
regulatory agencies that the OCC has identified a Web site claiming to be
associated with a national bank named First National Bank of Bedrock. This
is a fictitious entity. Neither the OCC nor any state banking authority has
authorized this entity to operate as a bank or to conduct any kind of
banking activities.
www.occ.treas.gov/ftp/alert/2004-19.txt
August 25, 2004 - The June 30, 2004 Uniform Bank Performance Report is now
available on line at WWW.FFIEC.GOV. The online version of the UBPR includes
5 years of continuous financial history that is restated quarterly to
reflect call report amendments and new analytical tools. Please visit the
UBPR section of the website for further information including suggestions
for using the website and a schedule of planned updates and enhancements.
Additionally, a User's Guide is available online for technical explanations
of UBPR data.
www.ffiec.gov/press/pr082504.htm
August 25, 2004 - Statistical Release - Charge-Off and Delinquency Rates on
Loans at Commercial Banks
www.federalreserve.gov/Releases/ChargeOff/default.htm
August 25, 2004 - Is The Corporate Loan Market Globally Integrated? A
Pricing Puzzle Mark Carey; Greg Nini - We offer evidence that interest rate
spreads on syndicated loans to corporate borrowers are economically
significantly smaller in Europe than in the U.S., other things equal.
Differences in borrower, loan and lender characteristics associated with
equilibrium mechanisms suggested in the literature do not appear to explain
the phenomenon.
www.federalreserve.gov/pubs/ifdp/2004/813/ifdp813.pdf
August 25, 2004 - Does Monetary Policy Keep Up with the Joneses? Optimal
Interest-Rate Smoothing with Consumption Externalities - Sanjay K. Chugh -
Changes in monetary policy are typically implemented gradually, an empirical
observation known as interest-rate smoothing. We propose the explanation
that time-non-separable preferences may render interest-rate smoothing
optimal.
www.federalreserve.gov/pubs/ifdp/2004/812/ifdp812.pdf
August 25, 2004 - The ET Interview: Professor David F. Hendry - Neil
Ericsson - This interview for Econometric Theory explores David Hendry's
research. Issues discussed include estimation and inference for
nonstationary time series; econometric methodology; strategies, concepts,
and criteria for empirical modeling; the general-to-specific approach, as
implemented in the computer packages PcGive and PcGets; computer-automated
model selection procedures; David's textbook Dynamic Econometrics; Monte
Carlo techniques (PcNaive); evaluation of these developments in simulation
studies and in empirical investigations of consumer expenditure, money
demand, inflation, and the housing and mortgage markets; economic
forecasting and policy analysis; the history of econometric thought; and the
use of computers for live empirical and Monte Carlo econometrics.
www.federalreserve.gov/pubs/ifdp/2004/811/ifdp811.pdf
August 23, 2004 - Financial Crimes Enforcement Network - The Department of
the Treasury's Financial Crimes Enforcement Network has released the
attached Section 314(a) Fact Sheet, which provides feedback from law
enforcement to the financial institutions industry on the results of the
information-sharing process required by the USA PATRIOT Act.
www.fdic.gov/news/news/financial/2004/fil9704.html
August 23, 2004 - Signs Point to Impending Recovery in Bank Commercial
Lending - After 13 consecutive quarters of decline in commercial and
industrial lending by FDIC-insured institutions, signs point to improved
prospects for this important line of business, according to the Fall 2004
issue of the FDIC Outlook which was released today.
www.fdic.gov/news/news/press/2004/pr8504.html
August 23, 2004 - Finance and Economics Discussion Series - Do Liquidity
Constraints Matter for New Entrepreneurs? Kevin Moore - Numerous studies
have found a positive relationship between wealth and entering
entrepreneurship, and interpret this as evidence of the existence of
liquidity constraints. However, recent research has shown that the
relationship between wealth and entering entrepreneurship may be non-linear
and only significant for high-wealth households; this result cannot be
interpreted as evidence of liquidity constraints.
www.federalreserve.gov/pubs/feds/2004/200442/200442abs.html
August 23, 2004 - The Federal Reserve Board on Tuesday announced the
issuance of a consent Notice of Prohibition against Kenneth M. Matzdorff,
the majority shareholder and a former officer and director of Garden City
Bancshares, Inc., Garden City, Missouri, a registered bank holding company
that owns or controls the Garden City Bank, Garden City, Missouri, a state
nonmember bank.
www.federalreserve.gov/boarddocs/press/Enforcement/2004/200408242/default.htm
August 23, 2004 - The Federal Reserve Board on Tuesday announced the
issuance of a consent Notice of Prohibition against Charles Kushner, an
institution-affiliated party of The NorCrown Trust, an unregistered bank
holding company that owns or controls the shares of the NorCrown Bank,
Livingston, New Jersey, a state nonmember bank.
www.federalreserve.gov/boarddocs/press/Enforcement/2004/20040824/default.htm
August 23, 2004 - OCC Announces 14 Enforcement Actions and One Termination -
The Office of the Comptroller of the Currency today announced 14 new
enforcement actions taken against national banks and individuals currently
and formerly affiliated with national banks and one termination of an
existing enforcement action.
www.occ.treas.gov/ftp/release/2004-71.htm
August 23, 2004 - FDIC Issues Proposed Rule Seeking Additional Comments on
"Small Bank" Community Reinvestment Act Threshold and Other Revisions - The
FDIC has issued a proposed rule seeking additional comments regarding the
Community Reinvestment Act. The proposed rule would change the definition of
"small bank" to raise the asset size threshold to $1 billion regardless of
holding company affiliation; add a community development activity criterion
to the streamlined evaluation method for small banks with assets greater
than $250 million and up to $1 billion; and expand the definition of
"community development" to encompass a broader range of activities in rural
areas.
www.fdic.gov/news/news/financial/2004/fil9604.html
August 23, 2004 - NCUA - Letter to Corporate Credit Unions 2004-04 -
Business Continuity Guidance Letter
www.ncua.gov/CorporateCU/CorpLetters/2004/2004-04.pdf
________________________
August 20, 2004 - Credit unions report consistent growth through midyear
2004 - The nation's federally insured credit unions posted
consistent, healthy growth through the first six months of 2004
according to call report data submitted by the 9,210 reporting
credit unions.
www.ncua.gov/news/press_releases/2004/NR04-0820.htm
August 20, 2004 - OCC Releases CRA Evaluations For 45 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 July 15, 2004
through August 14, 2004.
www.occ.treas.gov/scripts/newsrelease.aspx?Doc=VLZUERA.xml
August 20, 2004 - FDIC Reports Second Quarter 2004 Financial
Results for Bank and Thrift Insurance Funds - The Federal Deposit
Insurance Corporation today announced that the Bank Insurance Fund
reported comprehensive income (net income plus current period
unrealized gains/losses on available-for-sale securities) of $328
million for the six months ending June 30, 2004, compared to $750
million for the same period last year.
www.fdic.gov/news/news/press/2004/pr8404.html
August 19, 2004 - The Federal Reserve Board on Thursday released
the minutes of its discount rate meetings from May 17 through June
30, 2004.
www.federalreserve.gov/boarddocs/press/monetary/2004/20040819/default.htm
August 19, 2004 - Fundamental Change in Asset Composition of a
Bank - This bulletin announces that the OCC has issued a final
rule for national banks that substantially change the composition
of assets through a sale or other disposition to become a dormant
or "stripped" charter. The rule also applies to a "stripped"
charter that subsequently increases in asset size or expands
operations. The rule was published in the Federal Register on
August 16, 2004.
www.occ.treas.gov/ftp/bulletin/2004-37.txt
August 19, 2004 - Steps to Help Rebuild Areas Affected by
Hurricane Charley - The Federal Deposit Insurance Corporation has
announced a series of steps intended to facilitate the rebuilding
process in areas damaged by Hurricane Charley
www.fdic.gov/news/news/financial/2004/fil9504.html
August 19, 2004 - Proposals for Comment - Joint proposal on
operational risk loss data collection stemming from the Basel
Capital Accord
www.federalreserve.gov/generalinfo/foia/proposedregs.cfm
August 18, 2004 - Mike Finn Named OTS West Region Director - The
Office of Thrift Supervision announced today that Michael Finn has
been named to serve as Regional Director of OTS's West Region,
effective immediately.
www.ots.treas.gov/docs/7/77435.html
August 18, 2004 - Thrift Industry Healthy In Second Quarter - The
Office of Thrift Supervision announced today that the nation's
thrift industry turned in another quarter of healthy earnings,
profitability and asset quality as well as solid loan growth.
Industry earnings reached $3.38 billion in the second quarter of
2004, up from $3.34 billion in the prior quarter.
www.ots.treas.gov/docs/7/77434.html
August 18, 2004 - OCC Extends and Expands Three-Year Old Pilot
Program that Provides Expanded Lending Limits for Community Banks
with National Charters - The Office of the Comptroller of the
Currency is extending and expanding a pilot program aimed at
helping community banks with national charters continue to provide
expanded credit availability to customers in states that have
lending limits higher than those available for federally-chartered
institutions.
www.occ.treas.gov/scripts/newsrelease.aspx?Doc=S2FY5G7H.xml
August 18, 2004 - On June 7th, the FFIEC agencies requested
comments on the proposed Interagency Guidance on Overdraft
Protection Programs (Guidance). This proposed Guidance is intended
to assist insured depository institutions in the responsible
disclosure and administration of overdraft protection services.
www.fdic.gov/regulations/laws/federal/04jointoverdraft.pdf
August 18, 2004 - OTS To Propose Additional CRA Measures To Assist
Natural Disaster Areas And Underserved Rural Communities - The
Office of Thrift Supervision announced today its intent to issue a
request for comment on a proposal to modify the definition of
"community development" in its Community Reinvestment Act
regulations to assist areas affected by natural disasters and to
encourage lending, investments and services in underserved rural
communities.
www.ots.treas.gov/docs/7/77433.html
August 17, 2004 - OCC Encourages National Banks to Work with
Customers Affected by Hurricanes Bonnie and Charley - The Office
of the Comptroller of the Currency has outlined measures to assist
national banks and their customers affected by Hurricanes Bonnie
and Charley.
www.occ.treas.gov/scripts/newsrelease.aspx?Doc=UH5AFED6.xml
August 17, 2004 - Statistical Release - G.17 Industrial Production
- Industrial production increased 0.4 percent in July; output in
June was revised down and is now estimated to have decreased 0.5
percent. Utilities output fell noticeably in both months. In
manufacturing, a production gain of 0.6 percent in July more than
reversed the previous month's decline. Mining output also moved
back up in July after a decline in June.
www.federalreserve.gov/Releases/G17/Current/default.htm
August 16, 2004 - Senior Loan Officer Opinion Survey on Bank
Lending Practices - The July 2004 Senior Loan Officer Opinion
Survey on Bank Lending Practices addressed changes in the supply
of, and demand for, bank loans to businesses and households over
the past three months.
www.federalreserve.gov/boarddocs/snloansurvey/200407/default.htm
August 16, 2004 - OTS Encourages Thrifts In Areas Affected By
Hurricane Charley To Assist Customers In Need - The Office of
Thrift Supervision today announced steps thrifts could take to
assist their customers in the areas affected by Hurricane Charley.
www.ots.treas.gov/docs/7/77432.html
August 16, 2004 - The Federal Reserve Board on Monday announced
its approval of the notice filed by Associated Banc-Corp, Green
Bay, Wisconsin, to acquire First Federal Capital Corporation and
its wholly owned subsidiary, First Federal Capital Bank, both in
La Crosse, Wisconsin.
www.federalreserve.gov/boarddocs/press/orders/2004/200408162/default.htm
August 16, 2004 - The Federal Reserve Board on Monday announced
its approval of the application filed by The Royal Bank of
Scotland Group plc, The Royal Bank of Scotland plc, RBSG
International Holdings Ltd., all in Edinburgh, Scotland; and
Citizens Financial Group, Inc., Providence, Rhode Island, to
acquire Charter One Financial, Inc. and thereby indirectly acquire
Charter One Bank, National Association, both in Cleveland, Ohio.
www.federalreserve.gov/boarddocs/press/orders/2004/20040816/default.htm
August 16, 2004 - NCUA - Senator Clinton to Keynote PALS Workshop
for Credit Unions on Oct. 11 in Rochester, N.Y. - Board Member
Debbie Matz is pleased to announce that U.S. Senator Hillary
Rodham Clinton will keynote a free NCUA Partnering and Leadership
Successes workshop on Oct. 11 in Rochester, N.Y.
www.ncua.gov/news/press_releases/2004/NR04-0816-2.htm
August 16, 2004 - NCUA Activates Disaster Assistance for Hurricane
Victims - The National Credit Union Administration has activated
its disaster relief policy to assist credit unions and their
members in areas where offices and homes were damaged and
destroyed by wind, rain, and flooding caused by Tropical Storm
Bonnie and Hurricane Charley.
www.ncua.gov/news/press_releases/2004/NR04-0816.htm
August 16, 2004 - Statement by Comptroller of the Currency John D.
Hawke, Jr. on CRA Issues - Comptroller of the Currency John D.
Hawke, Jr. issued the following statement following a vote by the
Federal Deposit Insurance Corporation's Board of Directors on a
proposed rule regarding the Community Reinvestment Act:
www.occ.treas.gov/scripts/newsrelease.aspx?Doc=YQJAWYQU.xml
August 16, 2004 - OCC Issues Rule on Changes to the Composition of
Bank Assets - The Office of the Comptroller of the Currency today
issued a final rule for national banks that substantially change
the composition of assets through a sale or other disposition to
become a dormant or "stripped" charter. The rule also applies to a
"stripped" charter that subsequently increases in asset size or
expands operations.
www.occ.treas.gov/scripts/newsrelease.aspx?Doc=TODIVP65.xml
August 16, 2004 - FDIC Seeks Additional Comments on "Small-Bank"
CRA Threshold - The Federal Deposit Insurance Corporation today
issued a proposed rule seeking additional comments regarding the
Community Reinvestment Act. On February 6, the FDIC, along with
the other banking and thrift regulators, published for comment a
proposed rule to make changes to CRA evaluations that would, among
other things, increase the small institution threshold to $500
million from $250 million.
www.fdic.gov/news/news/press/2004/pr8304.html
___________________
August 13, 2004 - Securities Law Violations: Unregistered
Securities and Unlicensed Security Sales - The Office of the
Comptroller of the Currency has received information regarding
enforcement actions taken by multiple state regulatory authorities
against the above-referenced entity for the sale of unregistered
securities using unlicensed persons.
Press Release:
www.occ.treas.gov/ftp/alert/2004-18.txt
Attachment:
www.occ.treas.gov/ftp/alert/2004-18a.pdf
August 13, 2004 - Robert Young Appointed to St. Louis Fed's Little
Rock Branch Board - Robert A. Young III, chairman, president and
CEO of Arkansas Best Corporation in Fort Smith, Ark., has been
appointed by the executive committee of the Federal Reserve Bank
of St. Louis' board of directors to fill an unexpired term on the
Reserve Bank's Little Rock Branch board.
www.stlouisfed.org/news/releases/2004/08_13_04.htm
August 13, 2004 - The Federal Deposit Insurance Corporation today
issued notices and orders of suspension and prohibition against
two individuals pursuant to Section 8(g) of the Federal Deposit
Insurance Act.
www.fdic.gov/news/news/press/2004/pr8204.html
August 13, 2004 - The Federal Deposit Insurance Corporation today
released a list of orders of administrative enforcement actions
taken against banks and individuals in June. No administrative
hearings are scheduled for August.
www.fdic.gov/news/news/press/2004/pr8104.html
August 12, 2004 - O'Hare Expansion and House Prices Discussed in
Economic Perspectives - The average value of home prices near
O'Hare airport will increase by as much as $17,000 between 1997 and
the time after airport expansion, according to Daniel P. McMilllen
in an article featured in the latest Economic Perspectives.
www.chicagofed.org/news_and_conferences/news/2004_08_12_ohare_expansion_and_house_prices_in_
latest_economic_perspectives.cfm
August 12, 2004 - National Credit Union Administration Places
Appalachian Development Federal Credit Union into Liquidation
www.ncua.gov/news/press_releases/2004/NR04-0812.htm
August 12, 2004 - The Office of Thrift Supervision announced today
it is issuing a final rule, to be effective October 1, 2004,
modifying the existing "small institution" test for thrifts under
the Community Reinvestment Act.
www.ots.treas.gov/docs/7/77431.html
August 12, 2004 - The Office of Thrift Supervision announced today
the submission of an amicus curiae brief by OTS and five other
federal agencies in support of an appeal of a June 30, 2004,
California Federal District Court decision upholding provisions of
a California law that impose restrictions on the sharing of a
customer's information between a financial institution and its
affiliates.
www.ots.treas.gov/docs/7/77430.html
August 12, 2004 - Asset-Backed Commercial Paper Description: Final
Rule - This bulletin transmits a final rule on asset-backed
commercial paper programs published in the Federal Register on
July 28, 2004.
Press Release:
www.occ.treas.gov/ftp/bulletin/2004-36.txt
Attachment:
www.occ.treas.gov/fr/fedregister/69fr44908.pdf
August 12, 2004 - OCC Allows National Bank Offices Affected by
Hurricanes Bonnie and Charley to Close - The Office of the
Comptroller of the Currency today issued a proclamation allowing
national bank offices affected by Hurricanes Bonnie and Charley to
close at their discretion.
Press Release:
www.occ.treas.gov/scripts/newsrelease.aspx?Doc=GHMPEIPR.xml
Attachment:
www.occ.treas.gov/ftp/release/2004-65a.pdf
August 12, 2004 - FRB - Minutes of the Federal Open Market
Committee June 29-30, 2004.
www.federalreserve.gov/FOMC/MINUTES/20040630.htm
August 12, 2004 - Governor Susan Schmidt Bies Corporate Governance
and Risk Management at Community Banks At the Federal Reserve Bank
of Chicago Community Bank Directors Conference, Chicago, Illinois
www.federalreserve.gov/boarddocs/speeches/2004/200408122/default.htm
August 12, 2004 - Governor Edward M. Gramlich Rules for Assessing
Social Security Reform At the Retirement Research Consortium
Annual Conference, Washington, D.C.
www.federalreserve.gov/boarddocs/speeches/2004/20040812/default.htm
August 12, 2004 - The Federal Reserve Board on Thursday published
its annual adjustment of the dollar amount that triggers
additional disclosure requirements under the Truth in Lending Act
for home mortgage loans that bear rates or fees above a certain
amount.
www.federalreserve.gov/boarddocs/press/bcreg/2004/20040812/default.htm
August 11, 2004 - NCUA - Letter to Corporate Credit Unions 2004-03
- Critical Information System Risk Areas.
www.ncua.gov/CorporateCU/CorpLetters/2004/2004-03.pdf
August 10, 2004 - FOMC statement; and Board approval of discount
rate requests of the Federal Reserve Banks of Boston, New York,
Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Louis,
Minneapolis, Kansas City, Dallas, and San Francisco
www.federalreserve.gov/boarddocs/press/monetary/2004/20040810/default.htm
August 9, 2004 - Unauthorized Banking: Bank of NG, N.A.,
Fictitious Internet Bank - The Office of the Comptroller of the
Currency has identified a Web site claiming to be associated with
a national bank named Bank of NG, N.A. Neither the OCC nor any
state banking authority has authorized the subject entity to
operate as a bank.
www.occ.treas.gov/ftp/alert/2004-17.txt
August 9, 2004 - Limited Network Connections and the Distribution
of Wages Kenneth J. Arrow and Ron Borzekowski - It is well-known
that 50% or more of all jobs are obtained through informal
channels i.e. connections to family or friends. As well,
statistical studies show that observable individual factors
account for only about 50% of the very wide variation in earnings.
www.federalreserve.gov/pubs/feds/2004/200441/200441pap.pdf
August 9, 2004 - The Scope of Monetary Policy Actions Authorized
under the Federal Reserve Act David H. Small and James A. Clouse -
The Federal Reserve Act authorizes the Federal Reserve to
undertake various types of discount window loans and open market
operations. While the Federal Reserve generally has not found it
necessary to use all types of such authority, there could be
circumstances in which the Federal Reserve might need to consider
utilizing its statutory authority more broadly than it has in the
past.
www.federalreserve.gov/pubs/feds/2004/200440/200440pap.pdf
August 9, 2004 - Integrating Expenditure and Income Data: What To
Do With the Statistical Discrepancy? J. Joseph Beaulieu and Eric
J. Bartelsman - The purpose of this paper is to build consistent,
integrated datasets to investigate whether various disaggregated
data can shed light on the possible sources of the statistical
discrepancy.
www.federalreserve.gov/pubs/feds/2004/200439/200439pap.pdf
________________
August 6, 2004 - NCUA - Matz Schedules PALS Workshop on "Serving the
Underserved Without Losing Your Bottom Line" - NCUA Board Member
Debbie Matz has scheduled a free Partnering and Leadership Successes
(PALS) workshop for October 11 in Rochester, N.Y., to focus on
"Serving the Underserved Without Losing Your Bottom Line."
www.ncua.gov/news/press_releases/2004/NR04-0806.htm
August 6, 2004 - FRB Statistical Release - G.19 Consumer Credit
www.federalreserve.gov/releases/g19/current/default.htm
August 6, 2004 - Joint Interim Rule Regarding Community Reinvestment
Act Regulation (Part 345 of the FDIC's Rules and Regulations.) The
FDIC and other financial institution regulatory agencies are seeking
comment on the joint interim rule that implements technical changes
to regulations implementing the Community Reinvestment Act.
www.fdic.gov/news/news/financial/2004/fil9104.html
August 5, 2004 - Job Creation Examined in September Fed Letter - Job
growth seems to be occurring in high- and low-wage sectors in a
fairly typical way given where the economy is in the employment
cycle, according to Chicago Fed Senior Economist Dan Aaronson and
Associate Economist Sara Christopher in the September Chicago Fed
Letter
www.chicagofed.org/news_and_conferences/news/2004_08_05_job_creation_examined_in_september_fed_letter.cfm
August 5, 2004 - FDIC Issues August List of Banks Examined for CRA
Compliance - The Federal Deposit Insurance Corporation today issued
its monthly list of state nonmember banks recently evaluated for
compliance with the Community Reinvestment Act. The list covers
evaluation ratings that the FDIC assigned to institutions in May
2004.
www.fdic.gov/news/news/press/2004/pr8004.html
August 5, 2004 - The Federal Reserve Board on Thursday announced
that it is conducting a study on the adequacy of investigations of
disputed consumer information reported to consumer reporting
agencies.
www.federalreserve.gov/boarddocs/press/bcreg/2004/20040805/default.htm
August 5, 2004 - The Federal Reserve Board on Thursday announced its
approval of the notice filed by Popular, Inc., San Juan, Puerto
Rico, and its wholly owned subsidiaries, Popular International Bank,
Inc., also in San Juan, and Popular North America, Inc., Mt. Laurel,
New Jersey, to acquire Quaker City Bancorp, Inc., and its wholly
owned subsidiary, Quaker City Bank, a federally chartered savings
association, both in Whittier, California; and the application filed
by Banco Popular North America, New York, New York, to merge with
Quaker City Bank.
www.federalreserve.gov/boarddocs/press/orders/2004/20040805/default.htm
August 5, 2004 - The National Credit Union Administration announced
today that NCUA Chairman JoAnn Johnson and U.S. House Committee on
Financial Services Chairman Michael G. Oxley will host a Chairman's
Forum for credit unions in Ohio.
www.ncua.gov/news/press_releases/2004/NR04-0805-2.htm
August 5, 2004 - The National Credit Union Administration has issued
Orders of Prohibition that prohibit each of the following
individuals from participating in any manner in the affairs of any
federally insured financial institution
www.ncua.gov/news/press_releases/2004/NR04-0805.htm
August 3, 2004 - National Credit Union Administration Issues
Prohibition Orders - The National Credit Union Administration has
issued Orders of Prohibition that prohibit both of the following
individuals from participating in any manner in the affairs of any
federally insured financial institution.
http://www.ncua.gov/news/press_releases/2004/NR04-0804.htm
August 3, 2004 - "Related Organizations," a booklet in the
Comptroller's Handbook series, helps bankers and examiners to
understand the risks of relationships with entities such as
affiliates and subsidiaries.
www.occ.treas.gov/handbook/RelatedOrg.pdf
August 3, 2004 - The Federal Reserve Board on Tuesday announced its
approval of the application filed by Gateway Bank & Trust Co.,
Elizabeth City, North Carolina, to acquire three branches of
Provident Bank of Maryland, Baltimore, Maryland. These branches are
in Elizabeth City, North Carolina, and Emporia and Suffolk, both in
Virginia.
www.federalreserve.gov/boarddocs/press/orders/2004/20040803/default.htm
August 2, 2004 - The Federal Reserve Bank of Kansas City, in
conjunction with the other Reserve Banks throughout the nation,
today announced a further streamlining of its check-processing
services that will result in the Denver branch serving as a
consolidation site that will begin processing checks currently
handled by the Federal Reserve Bank of San Francisco's branch in
Salt Lake City.
www.kc.frb.org/pubaffrs/pressrel/pr04-09.htm
August 2, 2004 - The Federal Reserve Bank of Kansas City, in
conjunction with the other Reserve Banks throughout the nation,
today announced a further streamlining of its check-processing
services that will result in the shifting of the check-processing
operation at its Oklahoma City branch office to Dallas.
www.kc.frb.org/pubaffrs/pressrel/pr04-08.htm
August 2, 2004 - The Federal Reserve Board on Monday announced the
execution of a Written Agreement by and among the Traders Bank, A
Banking Corporation, Spencer, West Virginia; the West Virginia
Division of Banking, Charleston, West Virginia; and the Federal
Reserve Bank of Richmond.
www.federalreserve.gov/boarddocs/press/Enforcement/2004/20040802/default.htm
August 2, 2004 - NCUA - Opinion Letter 04-0606 - 2003 Wisconsin Act
257
www.ncua.gov/RegulationsOpinionsLaws/opinion_letters/2004/04-0606.pdf
August 2, 2004 - NCUA - Opinion Letter 04-0515 - Overdrawing an
Account to Enforce a Statutory Lien
www.ncua.gov/RegulationsOpinionsLaws/opinion_letters/2004/04-0515.htm
August 2, 2004 - FRB Statistical Release - G.5 Foreign Exchange
Rates (Monthly)
www.federalreserve.gov/releases/g5/current/default.htm
August 2, 2004 - Federal Reserve Banks Announce Changes to Increase
Efficiency in Check Services as Shift from Check to Electronics
Continues - The Federal Reserve Banks today announced further
changes to increase the efficiency of their check-processing
operations while maintaining high-quality services to depository
institutions throughout the country.
www.federalreserve.gov/boarddocs/press/other/2004/20040802/default.htm |
