Bank Regulatory News
November 2002
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November 29, 2002 - Questions Concerning Applicability and
Enforcement of State Laws; Contacts from State Officials - This advisory
letter describes the general principles that apply in determining whether
a state law is applicable to a national bank. www.occ.treas.gov/ftp/advisory/2002-9.txt
November 27, 2002 - Treasury Issues Moratorium on Section 314(a)
Information Requests This Notice addresses two matters associated with
section 314 of the USA PATRIOT Act as described below. Generally, section
314 authorizes law enforcement authorities to communicate with banking
organizations and others about suspected money launderers and terrorists,
and banking organizations to communicate amongst themselves about such
matters.
www.fdic.gov/news/news/financial/2002/FIL02130.html
www.ncua.gov/news/press_releases/2002/Joint02_11_27.htm
November 27, 2002 - Proposed
Revisions to the Reports of Condition and Income - The Federal Deposit
Insurance Corporation, the Federal Reserve Board and the Office of the
Comptroller of the Currency are requesting comment on proposed revisions
to the Reports of Condition and Income www.ffiec.gov/pdf/ffiec_forms/ffiec031041_fil126_2002.pdf
November 27, 2002 - FDIC Issues First Quarter 2003 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 first quarter of 2003.
www.fdic.gov/news/news/press/2002/pr12702.html
November 27, 2002 - Beige Book - Informal review by the Federal
Reserve Banks of current economic conditions in their Districts www.federalreserve.gov/fomc/beigebook/2002/20021127/default.htm
November 27, 2002 - Legal Interpretations - Interpretation of regulatory
safe harbor for combined-balance discount programs from the anti-tying
prohibitions of section 106 of the Bank Holding Company Act Amendments of
1970. www.federalreserve.gov/boarddocs/legalint/BHC_ChangeInControl/2002/20021126/default.htm
November 27, 2002 - The Federal Reserve Board on Wednesday announced it is
publishing a final Regulation W that comprehensively implements sections
23A and 23B of the Federal Reserve Act. The Board approved the final rule
at its meeting on October 31, 2002. www.federalreserve.gov/boarddocs/press/bcreg/2002/20021127/default.htm
November 26, 2002 - Opening Statement Of John Reich Vice Chairman Federal
Deposit Insurance Corporation At a Press Conference Announcing Bank
Earnings for the Third Quarter 2002 Washington, D.C. November 26, 2002 www.fdic.gov/news/news/press/2002/pr12402.html
November 26, 2002 - FDIC Issues Notice Of Charges Against Certain
Former Officers And Directors Of The Failed Connecticut Bank Of Commerce,
Stamford, Connecticut The Federal Deposit Insurance Corporation has issued
a Notice of Charges seeking to impose civil money penalties totaling $5.25
million against a group of former officers and directors of Connecticut
Bank of Commerce, Stamford, Connecticut CBC was closed by the Connecticut
Banking Commissioner on June 26, 2002, and the FDIC was appointed as
receiver. www.fdic.gov/news/news/press/2002/pr12502.html
November 26, 2002 - FDIC Makes Public October 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 October. No administrative hearings are scheduled for
December. www.fdic.gov/news/news/press/2002/pr12602.html
November 26, 2002 - The U.S. Treasury Issues Moratorium on Section 314(a)
Information Requests - The Board of Governors of the Federal Reserve
System and the other federal financial institutions supervisory agencies
today issued the attached Joint Agency Notice that addresses two matters
associated with section 314(a) of the USA PATRIOT Act. This provision of
the law authorizes law enforcement authorities to communicate with banking
organizations and others about suspected money launderers and terrorists.
Press Release: www.federalreserve.gov/Boarddocs/SRletters/2002/sr0221.htm
Press Release: www.occ.treas.gov/ftp/alert/2002-14.txt
Attachment: www.occ.treas.gov/ftp/alert/2002-14a.pdf
November 26, 2002 - NCUA - NCUA
Annual Performance Plan for 2003 http://www.ncua.gov/Ref/plans-and-reports/NCUA_Approved_Ann_Perf_2003_102102.pdf
November 26, 2002 - The Federal Reserve Board announced on Tuesday that it
has established a private-sector working group to recommend steps to
mitigate risks in the clearance and settlement of U.S. government
securities. www.federalreserve.gov/boarddocs/press/other/2002/20021126/default.htm
November 26, 2002 - The Federal Reserve Board on Tuesday published
proposed revisions to the official staff commentary that interprets the
requirements of Regulation Z, which implements the Truth in Lending Act. www.federalreserve.gov/boarddocs/press/bcreg/2002/20021126/default.htm
November 25, 2002 - NCUA - New Data Confirms Credit Unions Continue
Positive Growth Trends - The nation’s 9,751 federally insured credit
unions (FICUs) reported continued strong asset and savings growth and
steady loan and income growth during the first nine months of 2003. www.ncua.gov/news/press_releases/2002/NR02_1125_2.htm
November 25, 2002 - NCUA - Matz Focuses on Proposed Field of Membership
Rule -In speech to N.J. credit union association, Board member
explains her position www.ncua.gov/news/press_releases/2002/NR02_1125.htm
November 25, 2002 - Finance and
Economics Discussion Series - 2002 FEDS papers www.federalreserve.gov/Pubs/FEDS/2002/index.html
___________
November 22, 2002 - Thrift Industry On Pace For Record Year - The Office of
Thrift Supervision (OTS) today reported earnings for the nation’s thrift
industry of $2.97 billion in the third quarter of 2002, up 14 percent over the
year-ago third quarter, and five percent over the second quarter of 2002. www.ots.treas.gov/docs/77242.html
November 22, 2002 - The U.S. Current Account Deficit - Remarks
by Governor Donald L. Kohn At the 12th Frankfurt European Banking
Congress, Frankfurt, Germany www.federalreserve.gov/BoardDocs/speeches/2002/20021122/default.htm
November 22, 2002 - The Federal Reserve Board on Friday announced the issuance
of an Order of Prohibition against Eduardo Del Rio, a former employee and
institution-affiliated party of Deutsche Bank, AG, New York, New York. www.federalreserve.gov/boarddocs/press/Enforcement/2002/20021122/default.htm
November 21, 2002 - Federal Reserve Bank of Chicago Purchases 17-acre Site Near
Eastern Market for New Detroit Branch Office - The Federal Reserve Bank of
Chicago today announced the purchase of a 17-acre parcel of land from the City
of Detroit near the Eastern Market that will be the site of the new
260,000-square-foot Detroit branch office. http://www.chicagofed.org/newsandevents/pressreleases/2002/pr11212002.cfm
November 21, 2002 - NCUA - Statement of
NCUA Chairman Dennis Dollar on Proposed Update to NCUA's Field of Membership
Rules http://www.ncua.gov/news/speeches/Dollar11_21_2002.htm
November 21, 2002 - NCUA - Board Action
Bulletin for November 21, 2002 Board Meeting
- The NCUA Board proposed numerous amendments, including
provisions to redefine what constitutes a local community and to offer a new
type of occupational common bond, as the agency moves to update and streamline
federal chartering and field of membership policy. The comment period is 60
days. www.ncua.gov/news/board_reports/BAB_nov_21_2002.pdf
November 21, 2002 - NCUA - Final Rule on
Prompt Corrective Action -
Pursuant to Congressional mandate, the National Credit Union Administration
adopted a comprehensive system of prompt corrective action consisting of minimum
capital standards and corresponding remedies to restore the net worth of
federally-insured credit unions. www.ncua.gov/news/Proposed_regs/FinalRule12CFRParts702_741_747.pdf
November 21, 2002 - NCUA - Proposed Rule
on Prompt Corrective Action; Net Worth Restoration Plans
www.ncua.gov/news/Proposed_regs/Proposed12CFRPart702.pdf
November 21, 2002 - NCUA - Proposed Rule
on Chartering and Field of Membership Policies (IRPS 02-5)
www.ncua.gov/news/Proposed_regs/ProposedIRPS_02_5.pdf
November 21, 2002 - NCUA - Extension of
Comment Period --Benefits for Employees of Federal Credit Unions
www.ncua.gov/news/Proposed_regs/Proposed_701_19.pdf
November 21, 2002 - NCUA - Proposed
Revision of the definition of small credit union for purposes of the Regulatory
Flexibility Act www.ncua.gov/news/Proposed_regs/Proposed12CFRPart791.pdf
November 21, 2002 - Illegal References to Bank Affiliation and Bank Supervisor -
Please be advised that Globe Trust Financial, Inc. and Pacific Trust Financial
(Pacific) are falsely representing on their respective Internet Web sites that
they are regulated by the Office of the Comptroller of the Currency www.occ.treas.gov/ftp/alert/2002-13.txt
November 21, 2002 - Jennifer Kelly Named Deputy Comptroller For Mid-Size Banks -
The Office of the Comptroller of the Currency announced today that Jennifer C.
Kelly has been named Deputy Comptroller for Mid-Size Banks.
In her new assignment, Ms. Kelly will report directly to Timothy W. Long,
Senior Deputy Comptroller for Mid-Size/Community Banks. www.occ.treas.gov/ftp/release/2002-90.txt
November 21, 2002 - Proposed Revisions to the Reports of Condition and Income -
The Federal Deposit Insurance Corporation, the Federal Reserve Board, and the
Office of the Comptroller of the Currency are requesting comment on proposed
revisions to the Reports of Condition and Income. www.fdic.gov/news/news/financial/2002/FIL02126.html
November 21, 2002 - Deflation: Making Sure "It" Doesn't Happen Here
- Remarks by Governor Ben S. Bernanke Before the National
Economists Club, Washington, D.C. www.federalreserve.gov/BoardDocs/speeches/2002/20021121/default.htm
November 20, 2002 - Annual Report on Indebtedness of Executive Officers and
Principal Shareholders to Correspondent Banks - Enclosed is a copy of the
Federal Financial Institutions Examination Council 004 report that may be used
to comply with the reporting requirements of Title VIII of the Financial
Institutions Regulatory and Interest Rate Control Act of 1978. www.ffiec.gov/pdf/ffiec_forms/ffiec004_20021119_fil1212002.pdf
November 20, 2002 - New Business Cycle Measure Uses Regional Data, Latest
Research in Economic Perspectives Shows - The latest issue of Economic
Perspectives released recently by the Chicago Fed highlights recent
research. www.chicagofed.org/newsandevents/pressreleases/2002/pr11202002.cfm
November 20, 2002 - Treasury's Office of Foreign Assets Control has amended
its list of Specially Designated Nationals and Blocked Persons - On October
25, 2002, the Department of the Treasury's Office of Foreign Assets Control
amended its list of Specially Designated Nationals and Blocked Persons by adding
37 names to its list of Specially Designated Global Terrorists. www.fdic.gov/news/news/financial/2002/FIL02124.html
November 20, 2002 - Treasury's Office of Foreign Assets Control has amended
its list of Specially Designated Nationals and Blocked Persons
- On October 10, 2002, the Department of the Treasury's Office of
Foreign Assets Control amended its list of Specially Designated Nationals and
Blocked Persons by adding the following name to its list of Specially Designated
Global Terrorists www.fdic.gov/news/news/financial/2002/FIL02122.html
November 20, 2002 - Remarks by Vice
Chairman Roger W. Ferguson, Jr. At the Annual Conference on the
Securities Industry, American Institute of Certified Public Accountants and the
Financial Management Division of the Securities Industry Association, New York,
New York www.federalreserve.gov/BoardDocs/speeches/2002/20021120/default.htm
November 19, 2002 - OCC Announces 18 New Enforcement Actions and 5 Terminations
- The Office of the Comptroller of the Currency today announced 18 new
enforcement actions taken against national banks and individuals currently and
formerly affiliated with national banks and 5 terminations of existing
enforcement actions. www.occ.treas.gov/ftp/release/2002-88.txt
November 19, 2002 - OCC Releases CRA Evaluations For 44 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
October 15 through November
14, 2002.
Press Release - www.occ.treas.gov/ftp/release/2002-89.txt
Attachment - http://www.occ.treas.gov/cra/nov02.htm
November 19, 2002 - Annual Report on Indebtedness of Executive Officers and
Principal Shareholders to Correspondent Banks
- Enclosed is a copy of the Federal Financial Institutions Examination
Council 004 report that may be used to comply with the reporting requirements of
Title VIII of the Financial Institutions Regulatory and Interest Rate Control
Act of 1978. www.fdic.gov/news/news/financial/2002/FIL02121.html
November 19, 2002 - Chairman Donald E. Powell Federal Deposit Insurance
Corporation Remarks At Operation Hope's Banking on Our Future Across America
2002 Closing Ceremony H.D. Woodson High School November 19, 2002 Washington,
D.C. www.fdic.gov/news/news/press/2002/pr12302.html
November 19, 2002 - Remarks by Chairman
Alan Greenspan Before the Council on Foreign Relations, Washington, D.C.
November 19, 2002 www.federalreserve.gov/BoardDocs/speeches/2002/20021119/default.htm
November 19, 2002 - The Federal Reserve Board announced Tuesday that it will
publish the annual revision to the G.17 statistical release, Industrial
Production and Capacity Utilization, on Thursday, December 5 at 2 p.m. EST. The
revision was previously scheduled for release on November 26. www.federalreserve.gov/boarddocs/press/other/2002/20021119/default.htm
November 18, 2002 - NCUA - Combined Annual Performance Report 2001 and Initial
Annual Performance Plan 2003 This
document, a companion to the NCUA Strategic Plan 2003-2008, reports our progress
to date as compared to the performance measures detailed in our Annual
Performance Plan 2001. It also identifies the Agency’s goals and objectives
for the year 2003 based on the results assessed for year 2001 and year-to-date
for year 2002
www.ncua.gov/ref/plans-and-reports/Combined2001PerformanceReport2003InitialPlan.pdf
November 18, 2002 - NCUA - Letter to
Federal Credit Unions 02-FCU-14 -- Volunteer Income Tax Preparation for Credit
Union Members www.ncua.gov/ref/letters/02-FCU-14.htm
November 18, 2002 - NCUA - Corporate Expanded Authority Guidelines - This
document is intended to provide guidance for those corporate credit unions (corporate(s))
seeking expanded authorities under Appendix B of Part 704 of the National Credit
Union Administration’s (NCUA) Rules and Regulations. www.ncua.gov/ref/corpexpauthority/corpexpauth.html
November 18 2002 - Remarks by Chairman Alan Greenspan - At a book reception for
the publication of volume I of Allan Meltzer's History of the Federal
Reserve, American Enterprise Institute, Washington, D.C.
November 18, 2002 www.federalreserve.gov/BoardDocs/speeches/2002/200211182/default.htm
November 18 2002 - Overcoming Challenges
and Seizing Opportunities in Indian Country - Remarks by Governor Mark W.
Olson - At the System's Sovereign Lending Conference: Banking Opportunities in
Indian Country, Scottsdale, Arizona
November 18, 2002 www.federalreserve.gov/BoardDocs/speeches/2002/20021118/default.htm
November 18 2002 - 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. www.federalreserve.gov/Generalinfo/Fhc/default.htm
_______________
November 15 2002 - FDIC
Board Member John M. Reich Becomes Board Vice Chairman - John M. Reich today became Vice Chairman of the Federal
Deposit Insurance Corporation (FDIC) Board of Directors. Mr. Reich has
served on the FDIC Board since January 16, 2001. www.fdic.gov/news/news/press/2002/pr12202.html
November 15 2002 – NCUA - National Credit Union Administration Chairman
Dennis Dollar told a group of credit union leaders and volunteers here
today that he has scheduled a long awaited update to federal credit union
field of membership rules for the NCUA Board’s November 21 meeting.
www.ncua.gov/news/press_releases/2002/nr02-1114-2.html
November 15 2002 - The Federal Reserve Board on Friday released the
minutes of its discount rate meetings from September 3 to September 23,
2002. www.federalreserve.gov/boarddocs/press/monetary/2002/20021115/default.htm
November 14 2002 - Money $mart Award Winners: Twenty Illinois Citizens
Honored for Commitment to Financial Education
- A
group of government, community and educational leaders from throughout
Illinois who have worked hard to promote financial education for consumers
will be honored this afternoon at the First Annual Money $mart Award
recognition ceremony at the Federal Reserve Bank of Chicago.
www.chicagofed.org/newsandevents/pressreleases/2002/pr11142002.cfm
November 14 2002 - Assessment of Fees - The attached final rule, which
amends the OCC’s rules governing national bank assessments, was
published in the Federal Register on October 9, 2002.
Press Release: www.occ.treas.gov/ftp/bulletin/2002-43.txt
Attachment: www.occ.treas.gov/fr/fedregister/67fr62872.pdf
November 14 2002 - Current List of OCC Alerts on Unauthorized Banking -
The OCC issues alerts, among other reasons, to provide information about
entities engaged in unauthorized banking, both offshore and domestic.
News Release:www.occ.treas.gov/ftp/alert/2002-12.txt
Attachment: www.occ.treas.gov/ftp/alert/2002-12a.pdf
November 13 2002 - Consolidated Reports of Condition and Income for A Bank
With Domestic and Foreign Offices—FFIEC 031 www.ffiec.gov/pdf/ffiec_forms/ffiec031_200303_f.pdf
November 13 2002 - Consolidated Reports of Condition and Income for A Bank
With Domestic Offices Only—FFIEC 041 www.ffiec.gov/pdf/ffiec_forms/ffiec041_200303_f.pdf
November 13 2002 - Steps to Help Rebuild Areas Affected by Recent
Tornadoes - The Federal Deposit Insurance Corporation has announced a
series of steps intended to facilitate the process of rebuilding in areas
damaged by recent tornadoes. www.fdic.gov/news/news/financial/2002/FIL02120.html
November 13 2002 - Testimony of Chairman Alan Greenspan - The economic
outlook Before the Joint Economic Committee, U.S. Congress November
13, 2002 www.federalreserve.gov/BoardDocs/testimony/2002/20021113/default.htm
November 12 2002 - Comptroller Of The Currency Bank Accounting Advisory
Series November 2002 - This edition of the Bank Accounting Advisory Series
expresses the Office of the Chief Accountant's current views on accounting
topics of interest to national banks. Banks prepare their Consolidated
Reports of Condition and Income (call reports) using generally accepted
accounting principles Accordingly, this series has been revised to
incorporate the conversion to those principles. www.occ.treas.gov/BA112002.pdf
November 12 2002 - FDIC To Market $42 Million Loan Portfolio From The
Failed Bank Of Alamo, Alamo, Tennessee
- The Federal Deposit Insurance Corporation (FDIC) has announced
that it will immediately market a $42 million loan portfolio from the
failed Bank of Alamo, Alamo, Tennessee. www.fdic.gov/news/news/press/2002/pr12102.html
November 12 2002 - Senior Loan Officer Opinion Survey on Bank Lending
Practices - The October 2002 Senior Loan Officer Opinion Survey on Bank
Lending Practices focused on changes in the supply of and demand for bank
loans to businesses and households over the past three months. www.federalreserve.gov/BoardDocs/snloansurvey/200211/default.htm
November 12 2002 - The Banking
Industry in 2002 after a Decade of Change
- Remarks by Governor Olson Before the First Annual Convention of
the Ohio Bankers League, Columbus, Ohio November 12, 2002 www.federalreserve.gov/BoardDocs/speeches/2002/200211124/default.htm
November 12 2002 - Economic
Progress and Small Business
- Remarks by Vice Chairman Roger W. Ferguson, Jr Before the African
American Chamber of Commerce of Western Pennsylvania, Pittsburgh,
Pennsylvania November 12, 2002 www.federalreserve.gov/BoardDocs/speeches/2002/200211123/default.htm
November 12 2002 - Recent
Experience and Economic Outlook - Remarks by Vice Chairman
Roger W. Ferguson, Jr. At the 2003 Global Economic and Investment Outlook
Conference, Carnegie Mellon University, Pittsburgh, Pennsylvania November
12, 2002 www.federalreserve.gov/BoardDocs/speeches/2002/200211122/default.htm
November 12 2002 - Remarks by Chairman Alan Greenspan At Banco de Mexico's
Second International Conference "Macroeconomic Stability, Financial
Markets, and Economic Development," Mexico City, Mexico November 12,
2002 www.federalreserve.gov/BoardDocs/speeches/2002/20021112/default.htm
November 8 2002 - The Federal Deposit Insurance Corporation (FDIC) today
approved the payout of the insured deposits of Bank of Alamo, Alamo,
Tennessee www.fdic.gov/news/news/press/2002/pr12002.html
____________________________
November 8, 2002 - Remarks
by Governor Ben S. Bernanke At the Conference to Honor Milton
Friedman, University of Chicago, Chicago, Illinois www.federalreserve.gov/BoardDocs/speeches/2002/20021108/default.htm
November 8, 2002 - Federal Reserve
Bank Of Kansas City Board Of Director Elections In Progress - Bankers from
Missouri and Oklahoma and two business leaders from Oklahoma are
candidates for election to the Federal Reserve Bank of Kansas City's Board
of Directors. www.kc.frb.org/pubaffrs/pressrel/pr02-21.htm
November 7, 2002 - New Business Cycle Measure Uses Regional Data - Chicago Fed Economist Michael
Kouparitsas in the latest Chicago Fed Letter uses regional income data to
construct a new measure of the U.S. business cycle. One of the highlights
of his methodology is that it isolates region-specific influences, such as
technology booms and commodity price spikes. www.chicagofed.org/newsandevents/pressreleases/2002/pr11072002.cfm
November 7, 2002 - The Federal Reserve Board on Thursday approved actions
by the Boards of Directors of the Federal Reserve Banks of Boston,
Philadelphia, Cleveland, Richmond, Atlanta, Chicago, Minneapolis, and
Kansas City, decreasing the discount rate at the banks from 1-1/4 percent
to 3/4 percent, effective immediately www.federalreserve.gov/boarddocs/press/monetary/2002/20021107/default.htm
November 7, 2002 - NCUA - Budget
Decrease Announced at NCUA Budget Briefing - The National Credit Union
Administration opened its boardroom doors to its stakeholders today to
review the agency’s proposed 2003 budget. NCUA Executive Director J.
Leonard Skiles presented a budget recommendation that will, if adopted by
the NCUA Board at its November 21 meeting, reverse a decade-long trend of
annual budget increases.
Press Release: www.ncua.gov/news/press_releases/2002/NR02_1107.htm
Attachment: www.ncua.gov/Ref/special/budget/ncuabudgetbriefing2003.pdf
November 7, 2002 - Statistical Release G.19 Consumer Credit - Consumer
credit increased at an annual rate of 6 percent in the third quarter,
compared with a downward revised 4-1/2 percent pace in the second quarter.
www.federalreserve.gov/Releases/G19/Current/default.htm
November 7, 2002 - Minutes of the
Federal Open Market Committee - A meeting of the Federal Open
Market Committee was held in the offices of the Board of Governors of the
Federal Reserve System in Washington, D.C., on Tuesday, September 24,
2002, at 9:00 a.m. www.federalreserve.gov/fomc/minutes/20020924.htm
November 7, 2002 - Remarks by
Governor Edward M. Gramlich At the Federal Reserve Bank of
Cleveland Conference "Livable Communities: Linking Community
Development and Smart Growth," Cincinnati, Ohio. www.federalreserve.gov/BoardDocs/speeches/2002/200211072/default.htm
November 7, 2002 - Remarks by
Governor Susan S. Bies At the National Conference on Banks and
Savings Institutions, American Institute of Certified Public Accountants,
Washington, D.C. www.federalreserve.gov/BoardDocs/speeches/2002/20021107/default.htm
November 6, 2002 - Chicago
Fed Announces Official Appointments - The Federal Reserve Bank of Chicago
recently announced its Board of Directors has approved the appointment of
three Bank Officers, effective November 1. www.chicagofed.org/newsandevents/pressreleases/2002/pr11062002.cfm
November 6, 2002 - Proposals for
Comment - The following proposals were recently made available for
public comment. Comments may be submitted to the Federal Reserve via the
web using the links below. www.federalreserve.gov/generalinfo/foia/proposedregs.cfm
November 6, 2002 - The Federal Reserve Board on Wednesday approved action
by the Board of Directors of the Federal Reserve Bank of San Francisco,
decreasing the discount rate at the bank from 1-1/4 percent to 3/4
percent, effective immediately. www.federalreserve.gov/boarddocs/press/monetary/2002/200211062/default.htm
November 6, 2002 - The Federal Open Market Committee decided today to
lower its target for the federal funds rate by 50 basis points to 1 1/4
percent. In a related action, the Board of Governors approved a 50 basis
point reduction in the discount rate to 3/4 percent. www.federalreserve.gov/boarddocs/press/monetary/2002/20021106/default.htm
November 5, 2002 - Chairman Donald E. Powell Federal Deposit Insurance
Corporation Housing Trends and The Economy: Implications for Financial
Institutions America's Community Bankers, November 5, 2002, San Francisco,
California www.fdic.gov/news/news/press/2002/pr11702.html
November 5, 2002 - FDIC Issues November List of Banks Examined for CRA
Compliance www.fdic.gov/news/news/press/2002/pr11802.html
November 5, 2002 - Connecticut Couple Indicted for Concealing Assets From
FDIC - Federal Deposit Insurance Corporation Inspector General Gaston L.
Gianni, Jr., has announced that Gary S. Blonder and Laura Z. Schwartz of
West Hartford, CT, were indicted on October 31 by the U.S. Attorney for
the District of Connecticut on charges related to concealing assets from
the FDIC and making false statements to the U.S. government. http://www.fdic.gov/news/news/press/2002/pr11902.html
November 5, 2002 - OCC Directory Highlights Bank Community Development
Investments - The Office of the Comptroller of the Currency today
published its annual directory of community development investments made
during 2001.
Press release: www.occ.treas.gov/ftp/release/2002-87.txt
Attachment: http://www.occ.treas.gov/cdd/resource.htm
November 5, 2002 - Comptroller Hawke Says Thrift Charter Remains Viable
Despite Convergence of Banking and Thrift Industries - Comptroller of the
Currency John D. Hawke, Jr. said today that while the banking and thrift
industries have converged to a great extent, the thrift charter remains as
viable as ever and there is no compelling reason to merge the agencies
that supervise national banks and thrifts.
News Release: www.occ.treas.gov/ftp/release/2002-86.txt
Attachment: www.occ.treas.gov/ftp/release/2002-86a.txt
November 5, 2002 NCUA - Day-Met
Credit Union to Serve Members of Former 801 Credit Union - The 801 Credit
Union of Dayton, Ohio opened this morning for business as Day-Met Credit
Union. On Nov. 1, National Credit Union Administration Region IV
staff negotiated a purchase and assumption agreement with Day-Met Credit
Union, also based in Dayton. Both credit unions were chartered by
the State of Ohio and insured by NCUA. www.ncua.gov/news/press_releases/2002/NR02_1104.htm
November 5, 2002 - NCUA - Member Business Lending Tops Matz's List in
South Dakota www.ncua.gov/news/press_releases/2002/NR02_1105.htm
________
November
1, 2002 - Independent Community Bankers Of America Join FDIC'S Money
Smart Alliance Program - The Independent Community Bankers of America today became the newest
member of the Federal Deposit Insurance Corporation's Money Smart
Alliance Program. The program, which is designed to increase financial
literacy in communities where it is most needed, uses the FDIC's Money
Smart financial education curriculum to teach adults the basics of
money management. www.fdic.gov/news/news/press/2002/pr11602.html
November 1, 2002 - Remarks by Chairman Donald E. Powell Federal Deposit
Insurance Corporation The Bankers Club of Chicago October 31, 2002
- www.fdic.gov/news/news/press/2002/pr11502.html
November 1, 2002 - The Sarbanes-Oxley Act of 2002 - The
recently enacted Sarbanes-Oxley Act of 2002 includes provisions addressing
audits, financial reporting and disclosure, conflicts of interest, and
corporate governance at public companies. www.federalreserve.gov/boarddocs/srletters/2002/sr0220.htm
November 1, 2002 - Use of Statistical Sampling in the Review of Commercial
and Industrial Loans and Commercial Real Estate Loans during On-Site
Safety and Soundness Examinations of Community Banks - This letter
introduces a statistical sampling method to improve the comprehensiveness
and effectiveness of credit reviews for community bank examinations. www.federalreserve.gov/boarddocs/srletters/2002/sr0219.htm
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