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December 29, 2006 - Banking Structure Financial Holding Companies -
Under the Bank Holding Company Act, bank holding companies may elect
to be financial holding companies. Following is a list of those
companies whose elections to become or be treated as financial
holding companies are effective.
December 29, 2006 - Commercial Bank Examination Manual November 2006
update and Trading and Capital-Markets Activities Manual 2006
December 29, 2006 - The Federal Reserve Board on Friday published
its annual notice of the asset-size exemption threshold for
depository institutions under Regulation C, which implements the
Home Mortgage Disclosure Act.
December 29, 2006 - OCC Proclamation On National Day of Mourning for
President Gerald Ford - The Office of the Comptroller of the
Currency advised national banks in a proclamation issued December 29
that under federal law they may close their offices Tuesday, January
2, 2007, at their discretion, in any state in which the governor or
other authorized official has declared a legal holiday in
recognition of the National Day of Mourning for President Gerald
December 28, 2006 - Risk-Based Capital: Domestic Capital
Modifications: Notice of Proposed Rulemaking - Proposals (Basel IA)
to revise existing risk-based capital rules, and to extend due dates
for comments on Basel II NPR and on related reporting templates.
December 28, 2006 - National Credit Union Administration Issues
Prohibition Order - The National Credit Union Administration has
issued an order prohibiting Christopher T. Renzo from participating
in the affairs of any federally insured financial institution.
December 28, 2006 - The President's Identity Theft Task Force Seeks
December 27, 2006 - Financial Crimes Enforcement Network, Federal
Deposit Insurance Corporation, and Florida Office of Financial
Regulation Assess Civil Money Penalties Against Beach Bank - The
Financial Crimes Enforcement Network, Federal Deposit Insurance
Corporation, and Florida Office of Financial Regulation today
announced the assessment of civil money penalties totaling $800,000
against Beach Bank, Miami Beach, Florida, for violations of federal
and state anti-money laundering laws and regulations. Beach Bank,
without admitting or denying the allegations, consented to payment
of the civil money penalties.
December 27, 2006 - Advertisement of FDIC Membership Final Rule
Amending - The FDIC Board of Directors has approved the attached
final rule amending FDIC Part 328, Advertisement of Membership.
Recent amendments to the Federal Deposit Insurance Act required the
FDIC to prescribe an official sign that all FDIC-insured depository
institutions would be required to display. The rule accomplishes
that requirement and provides for other changes to the regulation.
The final rule will take effect on November 13, 2007. FDIC-insured
depository institutions are expected to be in full compliance by
December 27, 2006 - Agencies Release Annual CRA Asset-Size Threshold
Adjustments for Small and Intermediate Small Banks - The federal
bank regulatory agencies today announced the annual adjustment to
the asset-size thresholds used to define "small bank" and
"intermediate small bank" under the Community Reinvestment Act
December 27, 2006 - The Federal Reserve Board on Wednesday announced
the termination of the enforcement action Canadian Imperial Bank of
Commerce, Toronto, Ontario, Canada Written Agreement dated December
22, 2003 Terminated December 22, 2006.
December 26, 2006 - Federal Reserve Board and Office of Thrift
Supervision Issue Revised Consumer Handbook on Adjustable-Rate
Mortgages - The Federal Reserve Board and the Office of Thrift
Supervision today announced the availability of a revised Consumer
Handbook on Adjustable-Rate Mortgages (the CHARM booklet), which
provides information to consumers about the features and risks of
December 26, 2006 - Risk-Based Capital Rules - Notice of Proposed
Rulemaking on Modifications to the Risk-Based Capital Framework -
The federal bank and thrift regulatory agencies have jointly issued
the attached Notice of Proposed Rulemaking and are seeking comment
on possible modifications to the risk-based capital standards for
all domestic banks, bank holding companies and savings associations
that are not subject to the risk-based capital framework proposed in
the Basel II NPR. The FDIC will accept comments on the NPR through
March 26, 2007.
December 22, 2006 - Reports of Condition and Income for Fourth
Quarter 2006 - The attached material pertains to the Reports of
Condition and Income for the December 31, 2006, 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. Starting your
preparation early will aid you in identifying and resolving any edit
exceptions prior to the submission deadline.
December 22, 2006 - Statistical Release - Household Debt Service and
Financial Obligations Ratios.
December 22, 2006 - Consumer Information - Agencies issue revised
Consumer Handbook on Adjustable-Rate Mortgages.
December 22, 2006 - Federal Reserve Bulletin: Legal Developments
Third Quarter, 2006.
December 22, 2006 - The Federal Reserve Board on Friday announced
the termination of the enforcement action Citigroup Inc., New York,
New York, Written Agreement dated July 28, 2003, Terminated December
December 21, 2006 - The Competitive Effects of Risk-Based Bank
Capital Regulation: An Example from U.S. Mortgage Markets - Diana
Hancock, Andreas Lehnert, Wayne Passmore, and Shane M. Sherlund -
Basel II bank capital regulations are designed to be substantially
more risk sensitive than the current regulations. In the United
States, only the largest banks would be required to adopt Basel II;
other depositories could choose to adopt such standards or to remain
under the Basel I capital standards.
December 21, 2006 - Fair Credit Reporting Act Amendments to FCRA
Examination Procedures - Amendments update a section to FCRA
examination procedures issued in November 2005. They address
provisions in the medical information rule that became effective
December 21, 2006 - FDIC Reports on Bank Securitization Activities
and Market Risk Management - As banks and savings institutions
increasingly turn to the capital markets to finance their
activities, the techniques they use to evaluate liquidity and market
risk also continue to evolve, according to the Fall 2006 issue of
December 21, 2006 - FDIC Makes Public November Enforcement Actions;
No Administrative Hearing Scheduled - The Federal Deposit Insurance
Corporation today released a list of orders of administrative
enforcement actions taken against banks and individuals in November.
No administrative hearing is scheduled for January 2007.
December 21, 2006 - The Federal Reserve Board on Thursday announced
the issuance of a consent Order of Assessment of a Civil Money
Penalty against Planters Bank and Trust Company, Staunton, Virginia,
a state member bank. Planters Bank and Trust Company, without
admitting to any allegations, consented to the issuance of the Order
in connection with its alleged violations of the Board's Regulations
implementing the National Flood Insurance Act.
December 21, 2006 - The Federal Reserve Board on Thursday announced
the issuance of a consent Order of Assessment of a Civil Money
Penalty against Oregon Pacific Bank, Florence, Oregon, a state
member bank. Oregon Pacific Bank, without admitting to any
allegations, consented to the issuance of the Order in connection
with its alleged violations of the Board's Regulations implementing
the National Flood Insurance Act.
December 21, 2006 - Repeal of Certain Reporting Requirements - On
December 11, 2006, the Board of Governors of the Federal Reserve
System published amendments to 12 CFR 215 (Regulation O) in the
Federal Register removing certain reporting requirements regarding
extensions of credit to bank insiders. 71 Federal Register 71472.
December 21, 2006 - Truth in Lending, December 2006 Revised booklet
in the Comptroller's Handbook for Consumer Compliance incorporates
Federal Reserve Board changes to Regulation Z and the OCC's
risk-based approach to examination.
December 21, 2006 - OCC Publishes Newsletter on Minority-Owned
Financial Institutions - The Office of the Comptroller of the
Currency today released the Winter 2006/2007 edition of its
Community Developments newsletter focusing on minority-owned
financial institutions and the strategies many employ to serve their
December 21, 2006 - Large-bank Deposit Insurance Determination
Modernization Proposal Advance Notice of Proposed Rulemaking -The
FDIC is seeking comments on whether and how the largest insured
depository institutions should be required to modify their deposit
systems so that the FDIC may calculate deposit insurance coverage
quickly in the event of an institution's failure. Attached is the
Advance Notice of Proposed Rulemaking.
December 21, 2006 - Suspicious Activity Report Revised To Support
Joint Filing and Reduce Duplicate SARs - The Financial Crimes
Enforcement Network and the federal banking agencies1 announced
Thursday that the format for the Suspicious Activity Report by
Depository Institutions has been revised to support a new joint
filing initiative, which will reduce the number of duplicate SARs
filed for a single suspicious transaction.
December 21, 2006 - The Federal Reserve Board and the New York State
Banking Department on Thursday announced the execution of a Written
Agreement by and among Habib Bank Limited, Karachi, Pakistan; the
bank's branch in New York, New York; the Federal Reserve Bank of New
York; and the New York State Banking Department.
December 20, 2006 - An Empirical Analysis of Specialist Trading
Behavior at the New York Stock Exchange - Sigridur Benediktsdottir -
I establish stylized empirical facts about the trading behavior of
New York Stock Exchange specialists. Specifically, I look at the
effect of future price movements, the specialist's explicit role,
and the specialist's inventory levels on specialist trading
December 20, 2006 - A Bivariate Model of Fed and ECB Main Policy
Rates - Chiara Scotti - This paper studies when and by how much the
Fed and the ECB change their target interest rates. I develop a new
nonlinear bivariate framework, which allows for elaborate dynamics
and potential interdependence between the two countries, as opposed
to linear feedback rules, such as a Taylor rule, and I use a novel
real-time data set.
December 20, 2006 - Informed and Strategic Order Flow in the Bond
Markets - Paolo Pasquariello and Clara Vega - We study the role
played by private and public information in the process of price
formation in the U.S. Treasury bond market. To guide our analysis,
we develop a parsimonious model of speculative trading in the
presence of two realistic market frictions -- information
heterogeneity and imperfect competition among informed traders --
and a public signal.
December 20, 2006 - Monetary Policy, Oil Shocks, and TFP: Accounting
for the Decline in U.S. Volatility Sylvain Leduc and Keith Sill - An
equilibrium model is used to assess the quantitative importance of
monetary policy for the post-1984 decline in U.S. inflation and
output volatility. The principal finding is that monetary policy
played a substantial role in reducing inflation volatility, but a
small role in reducing real output volatility.
December 20, 2006 - The Monetary Origins of Asymmetric Information
in International Equity Markets Gregory H. Bauer, Clara Vega -
Existing studies using low-frequency data have found that
macroeconomic shocks contribute little to international stock market
covariation. However, these papers have not accounted for the
presence of asymmetric information where sophisticated investors
generate private information about the fundamentals that drive
returns in many countries.
December 20, 2006 - NCUA General Counsel Opinion 06-0932-Disease
Specific Health Insurance - 12/08/2006.
December 20, 2006 - NCUA General Counsel Opinion 06-1101 -
Establishing No-Interest/Divided Accounts for Member Lacking a
Taxpayer Identification Number.
December 20, 2006 - On December 11, 2006, the Board of Governors of
the Federal Reserve System published amendments to 12 CFR 215
(Regulation O) in the Federal Register removing certain reporting
requirements regarding extensions of credit to bank insiders. 71
Federal Register 71472. These amendments implement section 601 of
the Financial Services Regulatory Relief Act of 2006, which was
signed into law on October 13.
December 20, 2006 - Federal Reserve Bank of San Francisco Announces
Chairman and Vice Chair of the 12th District Economic Advisory
Council Stephen M. Brophy - The Federal Reserve Bank of San
Francisco announced today that Stephen M. Brophy, president of Page
Land & Cattle Co., and Grace Evans Cherashore, president and CEO of
the Evans Hotel Group have been appointed chairman and vice chair of
the San Francisco Fed's Economic Advisory Council.
December 18, 2006 - OCC Releases CRA Evaluations For 25 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 November 15, 2006 through
December 14, 2006.
December 18, 2006 - Elimination of Annual Report on Indebtedness of
Executive Officers and Principal Shareholders to Correspondent Banks
- Section 601 of the Financial Services Regulatory Relief Act of
2006 removed several statutory reporting requirements relating to
insider lending by insured banks and savings associations.
December 18, 2006 - Agencies Propose Joint Rules to Implement the
Bank "Broker" Provisions of the Gramm-Leach-Bliley Act - The
Securities and Exchange Commission and Board of Governors of the
Federal Reserve System on Monday announced the release of joint
proposed rules to implement the "broker" exceptions for banks under
Section 3(a)(4) of the Securities Exchange Act of 1934.
December 18, 2006 - The Federal Reserve Board on Monday announced
its approval of the application under section 3 of the Bank Holding
Company Act by AFNB Holdings, Inc. to become a bank holding company
and acquire all the voting shares of American First National Bank,
both of Houston, Texas.
December 18, 2006 - The Federal Deposit Insurance Corporation, the
Federal Reserve Board, and the New York State Banking Department
today announced the issuance of separate but coordinated enforcement
actions regarding The Bank of Tokyo-Mitsubishi UFJ, Ltd., Tokyo,
Japan, and some of its U.S. operations.
December 18, 2006 - Data Download Program: news feeds relaying
announcements about the DDP and the data available from the
December 15, 2006 - OTS Lists 64 CRA Exams Scheduled For First
Quarter 2007 - The Office of Thrift Supervision announced today that
64 savings associations are scheduled for Community Reinvestment Act
examinations during the first quarter of 2007.
December 15, 2006 - OCC Reports Bank Quarterly Trading Revenues of
$4.5 Billion - Insured U.S. commercial banks generated revenues of
$4.5 billion from trading cash instruments and derivative products
in the third quarter of 2006, the Office of the Comptroller of the
Currency reported today in its Quarterly Report on Bank Derivatives
December 15, 2006 - OTS Appoints William Henley as Director of IT
Risk Management - The Office of Thrift Supervision announced today
the recent appointment of William H. Henley, Jr. as its Director of
IT Risk Management.
December 15, 2006 - Statistical Release - G.17 Industrial Production
- Industrial production (IP) rose 0.2 percent in November and was
revised down in October to show no change from its September level;
the revision to October was in response to weaker incoming data for
December 15, 2006 - Chairman Ben S. Bernanke - The Chinese Economy:
Progress and Challenges - At the Chinese Academy of Social Sciences,
December 14, 2006 - Middle-Income Tax Rates: Trends And Prospects -
Since the early 1980s, U.S. tax policy has seen a lot of changes,
culminating with three major tax bills in 2001-2003. Many of these
modifications, which lowered marginal tax rates and increased
deductions, exemptions and credits, benefited middle-income
households. As a result, the effective federal income tax rate for
middle-income households has reached 25-year lows, dropping from 7.5
percent in 1979 to 2.7 percent in 2003.
December 14, 2006 - Minority Workers In The Tenth District: Rising
Presence, Rising Challenges - Since 1970, minorities' share of
population in Tenth Federal Reserve District states (Colorado,
Oklahoma, Kansas, Nebraska, Wyoming, western Missouri, and northern
New Mexico) has nearly doubled. Minority groups now account for 25
percent of the area's population and are expected to continue to
increase in relative size in the years ahead. This escalating
minority presence raises the question of how District minorities are
December 14, 2006 - Annual Report, Fiscal Year 2006 - Highlights
include the viewpoint of Comptroller Dugan, a look ahead to 2007, a
review of strategic goal support, and a report on financial
December 14, 2006 - Statistical Release - Structure and Share Data
for U.S. Offices of Foreign Banks - Data are collected as of the end
of the month for March, June, September and December, and generally
are released three months later.
December 14, 2006 - Agencies Announce Interim Decision on Impact of
FAS 158 on Regulatory Capital -The federal bank and thrift
regulatory agencies announced Thursday an interim decision that the
Statement of Financial Accounting Standards No. 158, Employers'
Accounting for Defined Benefit Pension and Other Postretirement
Plans (FAS 158), will not affect banking organizations' regulatory
December 14, 2006 - NCUA - Final Rule - Permissible Investments for
Federal Credit Unions.
December 14, 2006 - NCUA General Counsel Opinion 06-0928 - Political
Activities of Credit Unions - 11/28/2006.
December 13, 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.
December 13, 2006 - NCUA - National Credit Union Administration
Issues Prohibition Order - The National Credit Union Administration
has issued an order prohibiting Crystal Bottomley from participating
in the affairs of any federally insured financial institution.
December 13, 2006 - Federal Financial Regulatory Agencies Issue
Interagency Policy Statement on the Allowance for Loan and Lease
Losses and Frequently Asked Questions - The federal financial
regulatory agencies announced today the issuance of a new
interagency policy statement on the Allowance for Loan and Lease
Losses and supplemental Frequently Asked Questions.
December 12, 2006 - The San Francisco Fed Announces 2007 Board of
Directors and the Reappointment of Richard M. Kovacevich to the
Federal Advisory Council - David K.Y. Tang - The Federal Reserve
Bank of San Francisco today announced the re-designation of David
K.Y. Tang, partner with Seattle-based law firm Preston Gates & Ellis
LLP as chairman of the Federal Reserve Bank of San Francisco's board
of directors, and T. Gary Rogers, chairman and CEO of Dreyer's Grand
Ice Cream, Inc. in Oakland, as deputy chairman.
December 12, 2006 - The Federal Reserve Board on Tuesday announced
its approval of the proposal by Citizens Banking Corporation, Flint,
to acquire Republic Bancorp Inc., Owosso, and its subsidiary bank,
Republic Bank, Lansing, all in Michigan.
December 12, 2006 - The Federal Open Market Committee decided today
to keep its target for the federal funds rate at 5-1/4 percent.
Economic growth has slowed over the course of the year, partly
reflecting a substantial cooling of the housing market. Although
recent indicators have been mixed, the economy seems likely to
expand at a moderate pace on balance over coming quarters.
December 12, 2006 - Commercial Real Estate Lending - The Federal
Deposit Insurance Corporation, the Office of the Comptroller of the
Currency, and the Board of Governors of the Federal Reserve System
have issued the attached joint Guidance on Concentrations in
Commercial Real Estate Lending, Sound Risk Management Practices. The
guidance reminds institutions that strong risk management practices
and appropriate levels of capital are essential elements of a sound
commercial real estate lending program, particularly when an
institution has a concentration in CRE loans.
December 11, 2006 - NCUA - Revised NCUA Your Insured Funds Brochure
is available for download.
December 11, 2006 - OTS Hosts National Forum to Address Housing
Issues - The Office of Thrift Supervision is hosting a National
Housing Forum today in order to prompt a more in-depth dialogue on
one of the nation's most debated topics. The event will provide a
timely and diverse forum on key issues affecting housing; and it
will provide a unique opportunity for debate among top industry,
government and community leaders about our nation's housing market.
December 11, 2006 - Statistical Release - G.20 Finance Companies.
December 11, 2006 - Statistical Release - G.17 Industrial Production
and Capacity Utilization - The Federal Reserve has revised the index
of industrial production and the related measures of capacity and
capacity utilization. Although data from January 1972 through
October 2006 are affected, most of the revision occurs from 2003
onward. Measured from fourth quarter to fourth quarter, industrial
production is now reported to have increased more slowly in 2003 and
in 2004. The change in output was revised up for 2005 and revised
down slightly for 2006.
December 11, 2006 - A Quantitative Comparison of Sticky-Price and
Sticky-Information Models of Price Setting - Michael T. Kiley - I
estimate sticky-price and sticky-information models of price setting
for the United States via maximum-likelihood techniques, reaching
several conclusions. First, the sticky-price model fits best, and
captures inflation dynamics as well as reduced-form equations once
hybrid-behavior is allowed. Second, the importance of hybrid
behavior in sticky-price models is potentially consistent with a
role for some information imperfections, such as sticky information,
as a complement to nominal price rigidities
December 11, 2006 - Shifting Trends in Semiconductor Prices and the
Pace of Technological Progress - Ana Aizcorbe, Stephen D. Oliner,
and Daniel E. Sichel - This paper examines three questions motivated
by previous research on semiconductors and productivity growth: Why
did semiconductor prices fall so rapidly in the second half of the
1990s, why has the rate of price decline slowed since 2001, and to
what extent are these price swings associated with changes in the
rate of advance in semiconductor technology? We show that the price
swings are statistically significant and that they reflect changes
in both price-cost markups and cost trends.
December 8, 2006 - OCC Names Bonita Irving its New Community Affairs
Officer in Boston -The Office of the Comptroller of the Currency
today announced the selection of Bonita Irving as its new
Boston-based Community Affairs Officer for the Northeast District.
December 8, 2006 - OCC Issues Civil Money Penalty against Grant
Thornton LLP - The Office of the Comptroller of the Currency
announced today that the agency has imposed a $300,000 civil money
penalty and a cease and desist order against Grant Thornton LLP for
reckless conduct in performing its audit of First National Bank of
Keystone's 1998 financial statements.
December 8, 2006 - Statistical Supplement to the Federal Reserve
Bulletin - November 2006.
December 7, 2006 - NCUA -Letter to Credit Unions 06-CU-19- Call
December 7, 2006 - Statistical Release - G.19 Consumer Credit -
Consumer credit decreased at an annual rate of 1/2 percent in
October, following an upward-revised increase of 5-3/4 percent in
the third quarter. In October, an increase in revolving credit was
offset by a decrease in nonrevolving credit.
December 7, 2006 - NCUA - Final Rule: Part 748, Filing Requirements
for Suspicious Activity Reports - This Regulatory Alert is to inform
you about revisions to Part 748 of the NCUA Rules and Regulations.
The revised rule describes in greater detail Suspicious Activity
Report reporting and filing requirements. The rule becomes effective
November 27, 2006.
December 7, 2006 - Fraudulent Regulatory Agency Issuances:
Fraudulent Correspondence Attributed to Officials of the Office of
the Comptroller of the Currency - Fictitious e-mails are circulating
world-wide that claim to be authored by the OCC. They fraudulently
encourage recipients to reply to receive funds owed by the OCC and
December 7, 2006 - Deposit Insurance Assessments - Final Rules on
Assessments and the Designated Reserve Ratio - The FDIC Board of
Directors has approved the attached final rules to amend Part 327 of
the FDIC Rules and Regulations governing assessments. One rule
creates a new system for risk-based assessments and sets assessment
rates beginning January 1, 2007. The other rule sets the designated
reserve ratio at 1.25 percent. The amendments are being made to
implement the Federal Deposit Insurance Reform Act of 2005.
December 6, 2006 - The Federal Reserve Board on Wednesday announced
the approval of, and invited public comment on, an interim rule that
would implement section 601 of the Financial Services Regulatory
Relief Act of 2006, which eliminated several statutory reporting and
disclosure requirements relating to insider lending by insured
December 6, 2006 - Federal Banking Agencies Issue Final Guidance On
Concentrations in Commercial Real Estate Lending - The Office of the
Comptroller of the Currency, the Board of Governors of the Federal
Reserve System, and the Federal Deposit Insurance Corporation on
Wednesday issued final guidance on sound risk management practices
for concentrations in commercial real estate lending.
December 6, 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 September 2006.
December 5, 2006 - Nordstrom Elected and Wilcox Reelected to the
Federal Reserve Bank of San Francisco's Board of Directors - The
Federal Reserve Bank of San Francisco announced today that Blake W.
Nordstrom, president of Nordstrom, Inc. has been elected, and
Kenneth P. Wilcox, president and chief executive officer of SVB
Financial Group has been reelected to the San Francisco Fed's board
December 5, 2006 - FRB Statistical Release - U.S. Reserve Assets;
Foreign Official Assets Held at Federal Reserve Banks.
December 5, 2006 - FDIC Board Proposes Basel 1-A Capital Standard
For Most Banks; Extends Comment Period on Basel II for the Largest
Banks - The Board of Directors of the Federal Deposit Insurance
Corporation today approved an interagency proposed rule that would
provide a new option for how most banks and thrifts in the U.S.
calculate their minimum risk-based capital requirements. The capital
framework is commonly referred to as Basel 1-A, and would be
available to all banks except the largest and most complex.
December 5, 2006 - FDIC Solicits Comments on Improvements to
Determining Insured Deposits at Large Banks - The Board of Directors
of the Federal Deposit Insurance Corporation is soliciting comments
on proposed improvements to the process of determining the insurance
status of depositors of larger institutions in the event of a
failure. The FDIC originally solicited comments on this topic in
December 2005. Based on its review of the comments, the FDIC has
decided to seek additional comments on a new approach.
December 5, 2006 - FDIC Board Approves 2007 Corporate Operating
Budget - The Board of Directors of the Federal Deposit Insurance
Corporation today approved a $1.1 billion Corporate Operating Budget
for 2007, approximately 4.6% higher than the 2006 Corporate
Operating Budget. In addition, 2007 spending on multi-year
investment projects separately approved by the Board is expected to
be approximately $26.4 million.
December 5, 2006 - FDIC Reports Third Quarter 2006 Financial Results
for the Deposit Insurance Fund - The Federal Deposit Insurance
Corporation today announced that the Deposit Insurance Fund earned
$1.4 billion in comprehensive income during the first three quarters
of 2006, increasing the fund balance to $50.0 billion as of
September 30, 2006.
December 5, 2006 - The Federal Reserve Board on Tuesday released a
draft interagency notice of proposed rulemaking that would revise
the existing risk-based capital framework by giving the vast
majority of banks, bank holding companies, and savings associations
the option of either continuing to use the existing Basel I-based
capital rule or adopting a more risk sensitive rule, known as Basel
December 4, 2006 - FDIC Makes Public October Enforcement Actions -
No Administrative Hearing Scheduled -The Federal Deposit Insurance
Corporation today released a list of orders of administrative
enforcement actions taken against banks and individuals in October.
No administrative hearing is scheduled for December.
December 4, 2006 - Issues Draft Guidelines on Small-Dollar Loans
-The Federal Deposit Insurance Corporation has issued for comment
guidelines to state non-member banks to encourage them to offer
small-dollar loan products that are affordable. FDIC-supervised
institutions that offer these products in a responsible, safe and
sound manner may receive favorable consideration under the Community
December 4, 2006 - Comptroller of the Currency Hosts Teleseminar on
Small Business Administration 504 CDC Loans - The Office of the
Comptroller of the Currency will host a teleseminar for those
interested in taking advantage of the Small Business Administration
504 Certified Development Company Loan Program.
December 1, 2006 - OCC Issues First Quarter 2007 CRA Examination
Schedule - The Office of the Comptroller of the Currency today
released its schedule of Community Reinvestment Act examinations to
be conducted in the first quarter of 2007.
December 1, 2006 - Notice of Comptroller of the Currency Fees for
Year 2007: Notice of OCC fee structure for year 2007 for all
national banks and federal branches and agencies. Changes become
effective January 1, 2007.
December 1, 2006 - FRB Statistical Release - Charge-Off and
Delinquency Rates on Loans at Commercial Banks.
December 1, 2006 - Foreign Exchange Rates - The Table Below Shows
The Average Rates Of Exchange In November 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.
December 1, 2006 - Chairman Ben S. Bernanke - Welcoming remarks At
the Fourth Conference of the International Research Forum on
Monetary Policy, Washington, D.C.
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