Bank Regulatory News
October 2001
October 31, 2001 - The Office of the Comptroller
of the Currency, the Federal Deposit Insurance Corporation, the Office of
Thrift Supervision, and the National Credit Union Administration have
issued the attached, "Joint Agency Release on SEC Action Against
Robert L. Bentley, Entrust Group, and Bentley Financial Services, Inc.
Press Release - www.occ.treas.gov/ftp/advisory/2001-11.txt
Attachment - www.occ.treas.gov/ftp/advisory/2001-11a.pdf
October 31, 2001- The National Credit Union Administration announced that
it has issued an Order of Prohibition against Jill Marie Swatloski, former
branch manager of Valley Communities Credit Union in Mosinee, Wisconsin.
www.ncua.gov/news/press_releases/pr103101.html
October 31, 2001 - OTS Proposes Revising Lending Rule To Enhance Thrift
Flexibility, Clarifies Existing Lending Rule, Starts Pilot Program To Ease
Disparities - The Office of Thrift Supervision today proposed changing its
lending and investment regulations to allow thrifts greater flexibility to
provide low-cost credit to their customers and to invest in their
communities while still operating safely and soundly. OTS also reminded
thrifts of the lending and investment flexibility they already have under
existing rules and announced a pilot program to alleviate competitive
lending disparities for thrifts.
www.ots.treas.gov/docs/77174.html
October 31, 2001 - The
Federal Deposit Insurance Corporation (FDIC) today released a list of
orders of administrative enforcement actions taken against banks and
individuals in September. One administrative hearing is scheduled for
November.
www.fdic.gov/news/news/press/2001/pr7701.html
October 31, 2001 - The Board of Directors of the Federal Deposit Insurance
Corporation (FDIC) approved the sale of the branches and deposits of
Superior Federal Bank, FSB. The winning bidder is Charter One Bank, FSB,
Cleveland, Ohio.
www.fdic.gov/news/news/press/2001/pr7801.html
October 31, 2001 - The Federal Reserve Board today
announced its approval of the application of McIlroy Bank & Trust,
Fayetteville, Arkansas, to merge with Central Bank and Trust, Little Rock,
Arkansas; The Farmers & Merchant Bank, Prairie Grove, Arkansas; and
Springdale Bank & Trust, Springdale, Arkansas.
www.federalreserve.gov/boarddocs/press/BHC/2001/20011031/default.htm
October 31, 2001 - The Federal Reserve Board announced today the approval
of the application of Caja de Ahorros y Monte de Piedad de Madrid, Madrid,
Spain, to establish an agency in Miami, Florida.
www.federalreserve.gov/boarddocs/press/BHC/2001/200110312/default.htm
October 31, 2001 - The Federal Reserve Board announced today the approval
of the application of Kookmin Bank, Seoul, Korea, to establish two
branches in New York, New York.
www.federalreserve.gov/boarddocs/press/BHC/2001/200110313/default.htm
October 31, 2001 - The Federal Reserve Board on Wednesday approved fee
schedules for Federal Reserve Bank payment services, effective January 2,
2002.
www.federalreserve.gov/boarddocs/press/BoardActs/2001/20011031/default.htm
October 30, 2001 - International
Finance Discussion Papers - Evidence Uncovered: Long-Term Interest Rates, Monetary
Policy, and the Expectations Theory
www.federalreserve.gov/pubs/ifdp/2001/712/default.htm
October 29, 2001 - The
Federal Deposit Insurance Corporation (FDIC) has learned that fictitious
"certified" checks are in circulation. - The checks bear the
name Sanborne Savings & Trust Company, P.O. Box 1475, Birmingham, AL
35233. A telephone number, 205-250-7151, is also printed on the checks.
www.fdic.gov/news/news/financial/2001/fil0194.html
October 29, 2001 - Entities That May Be Conducting Banking Operations
Without Authorization - The Office of the Comptroller of the Currency
(OCC) has informed us that the Ministry of Administration, Republic of
Palau, has revoked the corporate charter for an entity called First
Pacific Development Bank, Ltd., effective August 27, 2001.
www.fdic.gov/news/news/financial/2001/fil0193.html
October 26, 2001 - Under the Bank Holding Company Act,
bank holding companies may elect to be financial holding companies.
www.federalreserve.gov/generalinfo/fhc/default.htm
October 26, 2001 - The Federal Reserve Board today announced its approval
of the application of International Bancshares Corporation, Laredo, Texas,
to acquire all the voting shares of National Bancshares Corporation of
Texas, San Antonio, and thereby acquire NBC's subsidiary bank, NBC Bank,
N.A., Eagle Pass, both in Texas.
www.federalreserve.gov/boarddocs/press/BHC/2001/20011026/default.htm
_______________
F/Y/I – October 26, 2001 - U.S. Postal Service Mail
Delivery to the OCC - The
OCC, along with other agencies and businesses in Washington, D.C., has not
received mail from the U.S. Postal Service for the last three days, while
the Postal Service deals with the anthrax crisis. If you need immediate
assistance or information from the OCC, you may want to call, e-mail, or
fax your request. http://www.occ.treas.gov
October 26, 2001 - The Federal Reserve Board on Friday released the
minutes of its discount rate meetings from May 21, 2001 to September 17,
2001.
www.federalreserve.gov/boarddocs/press/General/2001/20011026/default.htm
October 26, 2001 - The importance of financial education and literacy
Before the National Council on Economic Education, Chicago, Illinois
www.federalreserve.gov/boarddocs/speeches/2001/20011026/default.htm
October 26, 2001 - The Federal Reserve Board on Friday released the
minutes of its discount rate meetings from May 21, 2001 to September 17,
2001.
www.federalreserve.gov/boarddocs/press/general/2001/20011026/default.htm
October 25, 2001 - Advisory Letter - Soldiers' and Sailors' Civil Relief
Act of 1940
www.occ.treas.gov/ftp/advisory/2001-10.txt
October 25, 2001 - OTS Names Sonja White Director of Examination Policy -
The Office of Thrift Supervision (OTS) announced today that Sonja White
has been appointed to the position of Director, Examination Policy.
www.ots.treas.gov/docs/77173.html
October 25, 2001 - Finance and
Economics Discussion Series - Optimal
Investment With Fixed Refinancing Costs - Case studies show that
corporate managers seek financial independence to avoid interference by
outside financiers.
www.federalreserve.gov/pubs/feds/2001/200140/200140abs.html
October 25, 2001 - The Federal Reserve Board today announced the issuance
of a consent Order of Assessment of a Civil Money Penalty against the
McIlroy Bank and Trust, Fayetteville, Arkansas, a state member bank.
www.federalreserve.gov/boarddocs/press/Enforcement/2001/20011025/default.htm
October 24, 2001 - The Federal Reserve Board today announced its approval
of the application of North Fork Bancorporation, Inc., Melville, New York,
to acquire Commercial Bank of New York, New York, New York.
www.federalreserve.gov/boarddocs/press/BHC/2001/20011024/default.htm
October 24, 2001 - NCUA has been notified that the Securities and Exchange
Commission yesterday charged Robert L. Bentley, Bentley Financial
Services, Inc., and Entrust
Group , Paoli, Penn., with securities fraud for selling securities
misrepresented as insured certificates of deposit (CDs) to hundreds of
financial institutions.
www.ncua.gov/news/press_releases/pr102401.html
October 24, 2001 – NCUA - Legal Opinion Letter 01-0775 -- Re: FCU as
Custodian for Self-Directed IRA Accounts
www.ncua.gov/ref/opinion_letters/01-0775.html
October 24, 2001 – NCUA - Proposed IRPS 01-3 -- Allowance for Loan and
Lease Losses Methodologies and Documentation for Federally-Insured Credit
Unions
www.ncua.gov/news/proposed_regs/IRPS_01-3-proposed.html
October 24, 2001 - Beige
Book - Reports from all Federal Reserve Districts indicate weak
economic activity in September and the first weeks of October.
www.federalreserve.gov/fomc/beigebook/2001/20011024/default.htm
October 23, 2001 - Remarks by
Chairman Alan Greenspan - The September 11 tragedy and the response
of the financial industry
www.federalreserve.gov/boarddocs/speeches/2001/20011023/default.htm
October 23, 2001 - Entities That
May Be Conducting Banking Operations in Canada or the United States
Without Authorization - The Office of the Superintendent of Financial
Institutions of Canada has
published the attached issue of "Monthly Warning Advisory"
(Issue No. 20), which contains the name of an entity recently brought to
OSFI's attention through an inquiry or complaint
www.fdic.gov/news/news/financial/2001/fil0191.html
October 23, 2001 - Amendment to OFAC Regulations Concerning Yugoslavia. -
Effective October 3, 2001, the Department of the Treasury's Office of
Foreign Assets Control amended
its regulations concerning Yugoslavia.
www.fdic.gov/news/news/financial/2001/fil0192.html
October 23, 2001 - OCC Releases Second Quarter Edition of Quarterly
Journal - The September 2001 issue of the Quarterly Journal, Vol. 20, No.
3 (for second quarter 2001), is now available on-line.
www.occ.treas.gov/qj/qj20-3.pdf
October 22, 2001 - Any
Deposit Insurance Reform Must Avoid Risk To Taxpayers, Chicago Fed Article
States - Any proposals to reform deposit
insurance must avoid putting taxpayers at risk for paying losses from bank
failures, according to Chicago Fed Economic Research Consultant George
Kaufman, writing in the November issue of the Chicago Fed Letter.
www.chicagofed.org/newsandevents/pressreleases/2001/pr10222001.cfm
October 22, 2001 - 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
October 22, 2001 - Update to
Executive Order Targeting Terrorist Assets - On September 24, 2001,
President George W. Bush issued an Executive Order targeting terrorists.
As a result, a number of new names were added to the Department of the
Treasury's Office of Foreign Assets Control (OFAC) Specially Designated
Nationals and Blocked Persons list.
www.fdic.gov/news/news/financial/2001/fil0188.html
October 22, 2001 - Counterfeit Official Bank Checks - The Federal Deposit Insurance Corporation has learned that
counterfeit checks have been drawn on four separate banks and are in
circulation.
www.fdic.gov/news/news/financial/2001/fil0189.html
October 22, 2001 - Specially Designated Nationals and Blocked Persons
- On October 5, 2001, the Department of the Treasury's Office of
Foreign Assets Control updated its Foreign Terrorist Organization list
based on information published by the Secretary of State in the Federal
Register.
www.fdic.gov/news/news/financial/2001/fil0190.html
October 19, 2001 - OCC Announces New Electronic Interpretations and
Actions - Interpretive Letters and No-Objection Letters
reflect the views of the Comptroller's legal staff
www.occ.treas.gov/interp/oct01/intoct01.htm
October 19, 2001 - OTS’ Latest Quarterly Review of Interest Rate Risk
Addresses Confusion over Structured Advances - The Office of Thrift
Supervision has just
published an article addressing the, at times, confusing area of Federal
Home Loan Bank advances.
www.ots.treas.gov/docs/77172.html
______________
October 19, 2001 - The
Chicago Fed today released a special issue of its Chicago Fed Letter
summarizing the Bank's 37th Annual Conference on Bank Structure and
Competition.
www.chicagofed.org/newsandevents/pressreleases/2001/pr10192001.cfm
October 19, 2001 - OTS’ Latest Quarterly Review of Interest Rate
Risk Addresses Confusion over Structured Advances - The Office of Thrift
Supervision has just published an article addressing the, at times,
confusing area of Federal Home Loan Bank advances.
www.ots.treas.gov/docs/77172.html
October 19, 2001 - OCC Announces New Electronic Interpretations and
Actions - October 2001
www.occ.treas.gov/interp/oct01/intoct01.htm
October 19, 2001 – NCUA - Summary of October 18, 2001 NCUA Closed Board
Meeting
www.ncua.gov/news/board_reports/closedbab101801.html
October 18, 2001 – NCUA - Veteran NCUA Manager Named Region V Associate
Regional Director of Operations- The National Credit Union Administration
Board has selected C. Keith Morton to direct operations for the NCUA
regional office in Austin, Texas
www.ncua.gov/news/press_releases/pr101801.html
October 18, 2001 - The Federal Reserve Board on Thursday announced the
annual adjustments in the amount of net transaction accounts used in the
calculation of reserve requirements and the cutoff level used to determine
the detail and frequency of deposit reporting.
www.federalreserve.gov/boarddocs/press/BoardActs/2001/20011018/default.htm
October 18, 2001 - Reporting Forms - FFIEC 031 - Consolidated Reports of
Condition and Income for a Bank with Domestic and Foreign Offices
www.ffiec.gov/forms031.htm
October 18, 2001 - Reporting Forms - FFIEC 041 - Consolidated Reports of
Condition and Income for a Bank with Domestic Offices Only
www.ffiec.gov/forms041.htm
October 18, 2001 - Fed Played Key Role in Payments System After Attacks:
St. Louis Fed's Poole - "The importance of the Federal Reserve's role
in the country's payments system became fully evident on September 11.”
www.stls.frb.org/general/releases/rel01/nr1018.html
October 18, 2001 - The "Country Risk Management" booklet,
discusses country risk -- the risk that economic, social, and political
conditions and events in a foreign country will adversely affect an
institution’s financial interests.
www.occ.treas.gov/handbook/countryrisk.pdf
October 17, 2001 - The Federal Reserve Board on Wednesday approved
comprehensive revisions to Regulation K (international banking operations)
expanding permissible activities abroad for U.S. banking organizations and
reducing associated regulatory burdens.
www.federalreserve.gov/boarddocs/press/BoardActs/2001/20011017/default.htm
October 17, 2001 - The Federal Reserve Board on Wednesday requested
comment on proposed revisions to Subpart D of Regulation K, governing
international banking operations.
www.federalreserve.gov/boarddocs/press/BoardActs/2001/200110172/default.htm
October 17, 2001 - OCC Releases CRA Evaluations For 19 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 September 15 through
October 14
www.occ.treas.gov/ftp/release/2001-91.txt
.
October 17, 2001 - Testimony of
Chairman Alan Greenspan - Monetary policy and economic outlook
Before the Joint Economic Committee, U.S. Congress
www.federalreserve.gov/boarddocs/testimony/2001/20011017/default.htm
October 17, 2001 - Thomas W. Smith Joins St. Louis Fed's Louisville Branch
Board - The executive committee of the Federal Reserve Bank of St. Louis'
board of directors has appointed Thomas W. Smith, president and chief
executive officer of Ephraim McDowell Health in Danville, Ky., to the
board of directors of the St. Louis Fed's Louisville Branch for a term
ending Dec. 31, 2002.
www.stls.frb.org/general/releases/rel01/nr1017.html
October 17, 2001 – NCUA - Letter to Credit Unions 01-CU-14 -- Community
Development Revolving Loan Fund - Technical Assistance Program
www.ncua.gov/ref/letters/01-CU-14.pdf
October 16, 2001 - In Resumption of September 11 Senate Banking Hearing
OTS Details Actions Responding to Attack and Superior Bank - In the
resumption today of a Senate Banking Committee hearing on Superior Bank
that was postponed shortly after it began on September 11, Office of
Thrift Supervision Director Ellen Seidman announced that OTS has issued 27
subpoenas in the Superior case.
www.ots.treas.gov/docs/77171.html
October 16, 2001 - Terrorist Additions to the OFAC SDN List - The Office
of Foreign Assets Control (OFAC) has added the names of 39 terrorists to
its list of Specially Designated Global Terrorists (SDGTs).
News Release: www.occ.treas.gov/ftp/alert/2001-13.txt
Attachment: www.occ.treas.gov/ftp/alert/2001-13a.txt
October 16, 2001 - Financial
Holding Companies- Under the Bank Holding Company Act, bank holding
companies may elect to be financial holding companies.
www.federalreserve.gov/GeneralInfo/FHC/default.htm
October 15, 2001 - Guidelines for Using External Experts on Examinations,
Inspections, and Other Bank Supervision Matters - Earlier this
year, the Division of Banking Supervision and Regulation (Division)
outlined procedures for using System experts and specialists outside of
the banking supervision function (internal experts) on supervision
assignments.
www.federalreserve.gov/boarddocs/srletters/2001/sr0125.htm
October 15, 2001 - FRBSF Economic Letter #2001-29 - In this latest Economic
Letter, San Francisco Federal Reserve Bank Senior Research Advisor
Glenn Rudebusch examines the definition and dating of recessions and
argues that, even in light of recent data and events, a recession may not
be a certainty because of the lack of synchronization in the declines of
various sectors of the economy; however if a recession does occur, its
start could well be dated to last spring.
www.frbsf.org/news/releases/2001/011015.html
October 15, 2001 - Remarks by John D. Hawke, Jr. Comptroller of the
Currency Before the New York State Department of Banking New York, NY
www.occ.treas.gov/ftp/release/2001-89.txt
October 15, 2001 - OCC Announces 6 New Enforcement Actions And 6
Terminations - The Office of the Comptroller of the Currency (OCC) today
announced 6 new enforcement actions taken against national banks and
individuals currently and formerly affiliated with national banks and 6
terminations of existing enforcement actions.
www.occ.treas.gov/ftp/release/2001-90.txt
October 15, 2001 - Request for Proposal - NCUA-01-R-0004 -- NCUA's Office
of Human Resources is seeking proposals from companies which can provide
medical examinations
www.ncua.gov/news/RFP/NCUA-01-R-0004.pdf
October 15, 2001 – NCUA - September 2001 Regional Director’s Actions
Taken Under Delegation of Authority
www.ncua.gov/ref/delegated/del0901.pdf
October 15, 2001 – NCUA - Regulatory Alert 01-RA-11 -- Suspicious
Activity Report (SAR)
www.ncua.gov/ref/reg_alerts/01-RA-11.pdf
October 15, 2001 – NCUA -Legal Opinion Letter 01-0626 -- Re: FCU's
Retention of Benefit Plan Investments Following Employee Separation
www.ncua.gov/ref/opinion_letters/01-0626.html
October 15, 2001 – NCUA - Letter to Credit Unions 01-CU-12 -- e-Commerce
Insurance Considerations
www.ncua.gov/ref/letters/01-CU-12.pdf
_________
October 13, 2001 - The June 30, 2001 Uniform Bank
Performance Report (UBPR) now being distributed to all insured commercial
banks and Federal Deposit Insurance Corporation - Insured Savings Banks
(FDIC-ISB) is now available for sale to the public.
www.ffiec.gov/press/pr091301.htm
October 12, 2001 - Reporting Forms - FFIEC 001 - Annual Report of Trust
Assets
www.ffiec.gov/forms001.htm
October 12, 2001 - Reporting Forms - FFIEC 004 - Report of Indebtedness of
Executive Officers and Principal Shareholders and their Related Interests
to Correspondent Banks
www.ffiec.gov/forms004.htm
October 12, 2001 - Reporting Forms - FFIEC 006 - Annual Report of
International Fiduciary Activities
www.ffiec.gov/forms006.htm
October 12, 2001 - Unauthorized Banking - First Pacific Development Bank,
Ltd. - The Office of the Comptroller of the Currency (OCC) has been
advised by the Ministry of Administration, Republic of Palau, that the
corporate charter for First Pacific Development Bank, Ltd. has been
revoked effective August 27, 2001.
www.occ.treas.gov/ftp/alert/2001-12.txt
October 12, 2001 - NCUA Investment / Asset Liability Management Review
Procedures
www.ncua.gov/ref/Investment/ALM-reviewprocedures.html
October 11, 2001 - Suburbs Growing Faster in Fed's Eighth District - The
2000 Census reveals that suburbs in the Federal Reserve's Eighth District
are growing at a stronger rate than the nation as a whole.
www.stls.frb.org/general/releases/rel01/nr1011a.html
October 11, 2001 - Report by Donald E. Powell Chairman Federal Deposit
Insurance Corporation, Before The Risk Management Planning Seminar Of The
Federal Financial Institutions Examination Council in San Francisco, CA.
http://www.fdic.gov/news/news/speeches/chairman/sp11oct01.html
October 11, 2001 - Market Discipline: The Third Pillar of Banking
Supervision? - When Fed Chairman Alan Greenspan uses the phrase
"market discipline" in the context of supervising banks, some
people think in terms of the savings & loan crisis of the 1980s in
other words, the market can't be trusted to contain risk.
www.stls.frb.org/general/releases/rel01/nr1011b.html
October 11, 2001 - Due to heightened security concerns, FFIEC is changing
the mailing addresses for all CRA and HMDA data submissions effective
immediately.
www.ffiec.gov/cra/memo101101.htm
October 11, 2001 - Is State Fiscal Policy Asymmetric over the Business
Cycle? - State government surpluses tend to rise during economic
expansions and decline during downturns. However, the influence of the
state fiscal policy tends to be asymmetric across the business cycle
www.kc.frb.org/pubaffrs/pressrel/3Q01state.htm
October 11, 2001 - Why Do
Central Banks Monitor so Many Inflation Indicators? -
Is there one single economic indicator that can consistently
predict inflation?
http://www.kc.frb.org/pubaffrs/pressrel/3Q01indicators.htm
October 11, 2001 - Remarks by
Chairman Alan Greenspan - Transparency in monetary policy - At the
Federal Reserve Bank of St. Louis, Economic Policy Conference,
www.federalreserve.gov/boarddocs/speeches/2001/20011011/default.htm
October 11, 2001 - Exploring Policy Options For A New Rural America
- Rural America is at a crossroads. Current rural policy created
for the 20th century is now outdated and, in many cases, is
failing.
http://www.kc.frb.org/pubaffrs/pressrel/3Q01rural.htm
October 11, 2001 - OTS Issued Three Enforcement Orders In August - The
Office of Thrift Supervision (OTS) today reported that it issued three
enforcement orders to one individual and two institutions during August.
www.ots.treas.gov/docs/77169.html
October 10, 2001 - OTS Announces 14 September CRA Ratings - The Office of
Thrift Supervision today announced savings associations' Community
Reinvestment Act (CRA) performance evaluation ratings that became
available in September 2001.
www.ots.treas.gov/docs/77170.html
October 10, 2001 - The Federal Reserve Board on Wednesday announced
modifications to the method for calculating the private sector adjustment
factor (PSAF).
www.federalreserve.gov/boarddocs/press/BoardActs/2001/20011010/default.htm
October 10, 2001 - Household
Debt-Service Burden - The household debt-service burden is an
estimate of the ratio of debt payments to disposable personal income.
www.federalreserve.gov/releases/housedebt/default.htm
October 10, 2001 - NCUA - 2001 Mid-Year Statistics for Federally Insured
Credit Unions
www.ncua.gov/ref/Statistics/midyear2001.pdf
October 5, 2001 - Bank Regulators' Data Show Continued Increase in
Adversely Classified Syndicated Bank Loans in 2001 - The 2001 Shared
National Credit (SNC) review indicates continued deterioration in the
quality of syndicated bank loans, consistent with general economic,
sectoral, and credit market trends, according to data released Friday by
three federal bank regulatory agencies.
www.fdic.gov/news/news/press/2001/pr7401.html
October 5, 2001 - FDIC Issues October 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.
www.fdic.gov/news/news/press/2001/pr7501.html
October 3, 2001 - For CRA and HMDA data reporting and analysis purposes,
continue to use the 1990 Census tract and demographic information for 2001
and 2002 calendar year data.
www.ffiec.gov/cra/memo100301.htm
___________
October 5, 2001 - The Federal Reserve Board today
announced the execution of an Amendment to the Written Agreement by and
among the New Century Bank, Shelby Township, Michigan, the State of
Michigan Office of Financial and Insurance Services, and the Federal
Reserve Bank of Chicago.
www.federalreserve.gov/boarddocs/press/Enforcement/2001/20011005/default.htm
October 5, 2001 - The Federal Reserve Board today announced the execution
of a Written Agreement by and among the AmericasBANK Corp, Towson,
Maryland, its subsidiary bank, the AmericasBANK, Towson, Maryland, the
Federal Reserve Bank of Richmond, and the Maryland Division of Financial
Regulation, Baltimore, Maryland.
www.federalreserve.gov/boarddocs/press/Enforcement/2001/200110052/default.htm
October 5, 2001 - The 2001 Shared National Credit (SNC) review indicates
continued deterioration in the quality of syndicated bank loans,
consistent with general economic, sectoral, and credit market trends,
according to data released Friday by three federal bank regulatory
agencies.
www.federalreserve.gov/boarddocs/press/General/2001/20011005/default.htm
October 5, 2001 - Statistical
Release - E.2 Survey of Terms of Business Lending
www.federalreserve.gov/releases/E2/Current/e2.pdf
October 5, 2001 - Statistical Release - G.19
Consumer Credit
www.federalreserve.gov/releases/G19/Current/
October 5, 2001 - OCC Supports Efforts of National Banks to
Aid in Recovery Efforts - National banks that support recovery efforts in
communities affected by the September 11 terrorist attacks will receive
credit under the Community Reinvestment Act, the Office of the Comptroller
of the Currency announced today.
www.occ.treas.gov/ftp/release/2001-88.txt
October 5, 2001 - Bank Regulators’ Data Show Continued Increase in
Adversely Classified Syndicated Bank Loans in 2001 - The 2001 Shared
National Credit (SNC)1 review
indicates continued deterioration in the quality of syndicated bank loans,
consistent with general economic, sectoral, and credit market trends,
according to data released Friday by three federal bank regulatory
agencies.
www.occ.treas.gov/ftp/release/2001-87.pdf
October 4, 2001 - FDIC
Program Encourages Banks To Make Loans To Those Affected By The September
11 Attacks - To support rebuilding in New York and Washington after the terrorist
attacks of September 11, the Federal Deposit Insurance Corporation will
give the banks it supervises credit under a federal law designed to
promote community development when they lend for reconstruction, the
agency announced today.
www.fdic.gov/news/news/press/2001/pr7301.html
October 4, 2001 - Jim Stephens has been promoted to operations
officer of the Louisville Branch of the Federal Reserve Bank of St. Louis.
www.stls.frb.org/general/releases/rel01/nr1004.html
October 4, 2001 - 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, August 21, 2001, at 9:00 a.m
www.federalreserve.gov/fomc/minutes/20010821.htm
October 4, 2001 - CU/NCUSIF Quick Facts updated for June 2001
www.ncua.gov/news/quick_facts/quick_facts.html
October 3, 2001 - Massachusetts Attorney Pleads Guilty To Wrongfully
Converting Government Funds To Personal Use; Fined $100,000
www.fdic.gov/news/news/press/2001/pr7201.html
October 3, 2001 - OCC Concludes that GLBA and Barnett Decision Show Parts
of West Virginia Law do not Apply to National Banks - The Office of the
Comptroller of the Currency concluded in an opinion that will be published
in the Federal Register that some provisions of a West Virginia insurance
law would be preempted under the Gramm-Leach-Bliley Act (GLBA) and
therefore would not apply to national banks.
Press Release: www.occ.treas.gov/ftp/release/2001-86.txt
Attachment: www.occ.treas.gov/ftp/release/2001-86a.pdf
October 3, 2001 - Operating Subsidiaries of Federal Branches and Agencies-
The Office of the Comptroller of the Currency (OCC) published the attached
final rule in the Federal Register on September 26, amending parts 5 and
28 of its regulations to clarify that a federal branch or agency may
establish, acquire, or maintain an operating subsidiary in generally the
same manner that a national bank may acquire or establish an operating
subsidiary.
Press release www.occ.treas.gov/ftp/bulletin/2001-46.txt
Federal Register http://www.occ.treas.gov/ftp/bulletin/2001-46a.pdf
October 3, 2001 - Seidman Bids Community Groups and Financial Institutions
to Look Beyond CRA - In her last speech to community groups, Office of
Thrift Supervision Director Ellen Seidman today called on them and their
financial institution partners to further the spirit of the Community
Reinvestment Act by moving beyond it.
www.ots.treas.gov/docs/77167.html
October 3, 2001 - NCUA Chairman Dennis Dollar Takes To The Air; Urges
Americans To "Fly And Shop" Again - NCUA Chairman Dennis Dollar
returned to Washington- Dulles International Airport last evening
following a flight to Tennessee where he hosted an Open Forum for
Tennessee and South Kentucky credit unions.
www.ncua.gov/news/press_releases/nr100301.html
October 2, 2001 - NCUSIF Report for August 2001
www.ncua.gov/ref/ncusif/ncusif.pdf
October 2, 2001 - The Federal Open Market Committee decided today to lower
its target for the federal funds rate by 50 basis points to 2-1/2 percent.
In a related action, the Board of Governors approved a 50 basis point
reduction in the discount rate to 2 percent.
www.federalreserve.gov/boarddocs/press/general/2001/20011002/default.htm
October 2, 2001 - International
Finance Discussion Papers - The
Contribution of Domestic and External Factors to Emerging Market
Devaluation Crises: An Early Warning Systems Approach
www.federalreserve.gov/pubs/ifdp/2001/711/default.htm
October 2, 2001 - Financial
Holding Companies - Under the Bank Holding Company Act, bank
holding companies may elect to be financial holding companies.
www.federalreserve.gov/GeneralInfo/FHC/default.htm
October 2, 2001 - Finance and
Economics Discussion Series -
2001 FEDS papers
www.federalreserve.gov/Pubs/Feds/2001/index.html
October 2, 2001 - The Federal Reserve Board compiles quarterly data
on banks that participate in the Department of the Treasury's Minority
Bank Deposit Program and releases the data about twelve weeks after the
end of each quarter.
www.federalreserve.gov/releases/mob/
October 2, 2001 - FDIC Report Analyzes Effects Of Slowing Economy On
Demand For U.S. Office Space - A slowing economy contributed to
softening in some U.S. office markets during the first half of 2001.
www.fdic.gov/news/news/press/2001/pr7101.html
October 2, 2001 - NCUA Chairman Dennis Dollar told a group of Tennessee
and Kentucky credit union leaders today that the nation’s present
economic downturn, made worse by the unexpected events of September 11,
“points out once again that significant changes in the nation’s
economy can happen suddenly and without warning.”
www.ncua.gov/news/press_releases/nr100201.html
October 1, 2001 - Grace Dailey Named Deputy Comptroller for Large Banks;
OCC Also Announces Realignment of Technology and Compliance Units
www.occ.treas.gov/ftp/release/2001-85.txt
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