Bank
Regulatory News
October
2006
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October 31, 2006 - Financial Crimes Enforcement Network, Federal
Deposit Insurance Corporation, and New York State Banking Department Assess
Civil Money Penalty Against Israel Discount Bank of New York - The Financial
Crimes Enforcement Network, Federal Deposit Insurance Corporation, and the
New York State Banking Department today announced the assessment of civil
money penalties of $12 million against Israel Discount Bank of New York for
violations of federal and state anti-money laundering laws and regulations.
This is in addition to the $8.5 million already paid to the New York
District Attorney's Office pursuant to an agreement reached with the bank in
December 2005. Israel Discount Bank of New York, without admitting or
denying the allegations, consented to payment of the civil money penalties.
www.fdic.gov/news/news/press/2006/pr06098.html
October 30, 2006 - Sandra L. Thompson Appointed Director of the Division of
Supervision and Consumer Protection; Spoth and Lane to Assume New
Responsibilities in DSC Realignment - FDIC Chairman Sheila C. Bair announced
today that Sandra L. Thompson has been named Director of the Federal Deposit
Insurance Corporation's Division of Supervision and Consumer Protection
(DSC). In addition, Christopher J. Spoth has been named Senior Deputy
Director, Supervisory Examinations; and John Lane will assume leadership of
a newly created unit dedicated to large, complex financial institution.
www.fdic.gov/news/news/press/2006/pr06097.html
October 30, 2006 - The October 2006 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. Special
questions in the survey queried banks about the extent to which the recent
strength in commercial and industrial lending reflected a surge in loans to
fund merger and acquisition activity.
www.federalreserve.gov/boarddocs/snloansurvey/200610/default.htm
October 27, 2006 - The Federal Reserve Board on Friday announced the
termination of the enforcement actions J.P. Morgan Chase & Co., New York,
N.Y. and Prineville Bancorporation and Community First Bank, Prineville,
Ore.
www.federalreserve.gov/boarddocs/press/Enforcement/2006/20061027/default.htm
____________
October 25, 2006 - FRB Reports to the Congress - The Use and
Counterfeiting of United States Currency Abroad, Part 3.
www.federalreserve.gov/boarddocs/rptcongress/counterfeit/counterfeit2006.pdf
October 25, 2006 - Treasury, Federal Reserve and Secret Service
Issue Report on High Use, Low Counterfeiting of U.S. Currency Abroad
- The Treasury Department, the Federal Reserve Board and the U.S.
Secret Service issued their third collaborative report today on the
use and counterfeiting of U.S. currency abroad.
www.federalreserve.gov/boarddocs/press/other/2006/20061025/default.htm
October 25, 2006 - The Federal Open Market Committee decided today
to keep its target for the federal funds rate at 5-1/4 percent.
www.federalreserve.gov/boarddocs/press/monetary/2006/20061025/default.htm
October 25, 2006 - Jesse O. Villarreal, Jr., Appointed Chief of
Staff to FDIC Chairman Sheila Bair -FDIC Chairman Sheila C. Bair
today announced the appointment of Jesse O. Villarreal, Jr., as her
Chief of Staff, effective October 24, 2006. As Chief of Staff, Mr.
Villarreal will oversee all of the day-to-day operations of the
Chairman's office.
www.fdic.gov/news/news/press/2006/pr06096.html
October 24, 2006 - Mark Levonian Named Senior Deputy Comptroller For
International and Economic Affairs - Mark Levonian has been named
Senior Deputy Comptroller for International and Economic Affairs,
replacing Jeffrey A. Brown, who is retiring from government service.
www.occ.treas.gov/toolkit/newsrelease.aspx?Doc=T99VF88O.xml
October 24, 2006 - Legislation Takes Effect to Raise Limit on
Community Development Investments - The Office of Comptroller of the
Currency has advised national banks that they can begin taking
advantage of increased limits for public welfare investments.
www.occ.treas.gov/toolkit/newsrelease.aspx?Doc=Q1TC43T.xml
October 24, 2006 - Statistical Supplement to the Federal Reserve
Bulletin - September 2006.
www.federalreserve.gov/pubs/supplement/2006/09/
October 24, 2006 - Federal Reserve Bulletin Article - Financial
Services Used by Small Businesses: Evidence from the 2003 Survey of
Small Business Finances.
www.federalreserve.gov/pubs/bulletin/2006/smallbusiness/smallbusiness.pdf
October 24, 2006 - Assessing Structural VARs - Lawrence J.
Christiano Martin Eichenbaum Robert Vigfusson - This paper analyzes
the quality of VAR-based procedures for estimating the response of
the economy to a shock. We focus on two key issues. First, do
VAR-based confidence intervals accurately reflect the actual degree
of sampling uncertainty associated with impulse response functions?
Second, what is the size of bias relative to confidence intervals,
and how do coverage rates of confidence intervals compare with their
nominal size?
www.federalreserve.gov/pubs/ifdp/2006/866/ifdp866.pdf
October 23, 2006 - NCUA - Letter to Credit Unions 06-CU-17 -
Recently Enacted Regulatory Relief Legislation.
www.ncua.gov/letters/2006/CU/06-CU-17.pdf
October 23, 2006 - Public Welfare Investments - Increase in
Investment Limits - On October 13, 2006, the Financial Services
Regulatory Relief Act of 2006 (act)1 was enacted. The legislation
both changed and enhanced the authority for national banks to make
public welfare investments under 12 USC 24 (Eleventh) [section 24
(Eleventh)].
www.occ.treas.gov/ftp/bulletin/2006-44.html
October 20, 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 September 15, 2006 through
October 14, 2006. The list contains only national banks and insured
federal branches of foreign banks that have received ratings.
www.occ.treas.gov/toolkit/newsrelease.aspx?Doc=DHE67POM.xml
October 20, 2006 - NCUA - Final Rule for Part 748 - Filing
Requirements for Suspicious Activity Report.
www.ncua.gov/RegulationsOpinionsLaws/RecentFinalRegs/F-748C.pdf
October 20, 2006 - Deposit Insurance Coverage - New Deposit
Insurance Publications Now Available in Korean and Chinese - The
following updated deposit insurance resources are now available in
Korean and Chinese: Insuring Your Deposits, a consumer brochure that
provides a basic overview of FDIC deposit insurance coverage, and
Your Insured Deposits, a consumer brochure that provides a
comprehensive explanation of the FDIC's deposit insurance coverage
rules. Both publications have been revised to reflect the increase
in FDIC insurance coverage to $250,000 for certain retirement
accounts, which took effect on April 1, 2006.
www.fdic.gov/news/news/financial/2006/fil06094.html
__________________
October 19, 2006 - NCUA - Interim Final Rule for Part 701- General
Lending Maturity Limit and Other Financial Services.
www.ncua.gov/RegulationsOpinionsLaws/proposed_regs/IFR-701.pdf
October 19, 2006 - FDIC to Hold Identity Theft Symposium in Miami Beach -
Latest in Series of Conferences to Build Consumer Confidence in an
E-Commerce World - The Federal Deposit Insurance Corporation has announced
the agenda for its next symposium on the importance of consumer confidence
in e-commerce, to be held October 25 in Miami Beach, Florida, at the Miami
Beach Resort. The half-day meeting will bring together experts from
government and the private sector to discuss ways to combat online identity
theft and help maintain public confidence in e-commerce.
www.fdic.gov/news/news/press/2006/pr06095.html
October 19, 2006 - Statistical Release - U.S. Reserve Assets; Foreign
Official Assets Held at Federal Reserve Banks
www.federalreserve.gov/Releases/bulletin/0906assets.htm
October 19, 2006 - Requirements and Prospects for a New Time to Payoff
Disclosure for Open End Credit Under Truth in Lending - Thomas A. Durkin -
The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (Public
Law 109-8, April 2005) made significant changes to procedures for managing
consumer bankruptcy petitions, but it also included amendments to the Truth
in Lending Act. Notable among the Truth in Lending changes is a section
providing for new disclosures on the length of time it will take consumers
to repay open end credit accounts in full if they make only the minimum
required payments.
www.federalreserve.gov/pubs/feds/2006/200634/index.html
October 19, 2006 - The Relocation Decisions of Working Couples - Jonathan F.
Pingle - Most prime-age married couples in the U.S. today have two labor
force participants. Migration decisions are more complicated for two-earner
couples than for one-earner couples because any gain from moving that
accrues to one spouse must be great enough to offset any loss to the other
spouse.
www.federalreserve.gov/pubs/feds/2006/200633/index.html
October 19, 2006 - What Do Financial Asset Prices Say About the Housing
Market? - This paper examines the first three moments of investors'
expectations for the housing sector. That is, first, what do financial
markets imply about expected future home prices? Second, how much confidence
do investors have in their forecast? And, third, do market participants see
more downside than upside risk?
www.federalreserve.gov/pubs/feds/2006/200632/index.html
October 19, 2006 - Why are Plant Deaths Countercyclical: Reallocation Timing
or Fragility? - Because plant deaths destroy specific capital with large
local economic impacts and potentially important macroeconomic effects,
understanding the causes of deaths and, in particular, why they are
concentrated in cyclical downturns, is important. The reallocation-timing
hypothesis posits that plants suffering adverse permanent
demand/productivity shocks delay shutdowns until cyclical downturns when
plant capacity is less valuable, while the fragility hypothesis posits that
shutdowns occur in downturns because the option value of maintaining the
plant through weak demand periods is too low.
www.federalreserve.gov/pubs/feds/2006/200631/index.html
October 18, 2006 - Deposit Insurance Assessments Final Rule on One-Time
Assessment Credit - The FDIC Board of Directors has approved the attached
final rule to implement the One-Time Assessment Credit, as required by the
Federal Deposit Insurance Reform Act of 2005. Under the final rule, eligible
institutions will share in an aggregated one-time deposit insurance
assessment credit of $4,707,580,238.19. The final rule takes effect on
November 17, 2006.
www.fdic.gov/news/news/financial/2006/fil06093.html
October 18, 2006 - Deposit Insurance Assessments Final Rule on Assessment
Dividends - The FDIC Board of Directors has approved the attached final rule
to implement Assessment Dividends, as required by the Federal Deposit
Insurance Reform Act of 2005. The final rule takes effect on January 1,
2007.
www.fdic.gov/news/news/financial/2006/fil06092.html
October 18, 2006 - FDIC and Neighborworks® America to Hold Summit on Housing
Assistance for Hurricane Victims in Gulf Coast States - The Federal Deposit
Insurance Corporation, in conjunction with NeighborWorks® America, will hold
a three-day summit in New Orleans on October 23-25 to discuss
housing-related challenges and opportunities faced in the Gulf Coast states
affected by Hurricanes Katrina, Wilma and Rita.
www.fdic.gov/news/news/press/2006/pr06094.html
October 18, 2006 - Federal Reserve Bulletin - Report on the Condition of the
U.S. Banking Industry: Fourth Quarter, 2005.
www.federalreserve.gov/pubs/bulletin/2006/bank_condition/bull06_bankreptq4-3.pdf
October 18, 2006 - The Federal Reserve Board on Wednesday announced the
annual indexing of the low reserve tranche and of the reserve requirement
exemption amount for 2007. These amounts are used in the calculation of
reserve requirements of depository institutions.
www.federalreserve.gov/boarddocs/press/bcreg/2006/20061018/default.htm
October 18, 2006 - The Federal Reserve Board on Wednesday released the
minutes of its discount rate meetings from August 21 through September 19,
2006.
www.federalreserve.gov/boarddocs/press/monetary/2006/20061018/default.htm
October 18, 2006 - OCC Survey Finds Increased Easing Of Commercial and
Retail Credit Underwriting Standards - The Office of the Comptroller of the
Currency released the twelfth annual Survey of Credit Underwriting Practices
today and reported that competitive pressures have led to a third
consecutive year of eased commercial and retail credit underwriting
standards.
www.occ.treas.gov/toolkit/newsrelease.aspx?Doc=HMN5BE1G.xml
October 18, 2006 - Agencies Provide Consumer Information on Nontraditional
Mortgage Loans - The federal bank, thrift, and credit union regulatory
agencies today announced the publication of a new resource that can help
consumers make more informed choices when considering nontraditional
mortgage loans.
Press Release:
www.federalreserve.gov/boarddocs/press/other/2006/20061018/default.htm
Press Release:
www.fdic.gov/news/news/press/2006/pr06093.html
Press Release:
www.occ.treas.gov/toolkit/newsrelease.aspx?JNR=1&Doc=8WZDEM4.xml
Press Release:
www.ots.treas.gov/docs/7/776049.html
Press Release:
www.ncua.gov/news/press_releases/2006/JR06-1018.pdf
October 17, 2006 - Structure and Share Data for U.S. Banking Offices of
Foreign Entities - Data are collected as of the end of the month for March,
June, September and December, and generally are released three months later.
www.federalreserve.gov/releases/iba/default.htm
October 17, 2006 - Comptroller Dugan Urges Key Principles of Federal
Nontraditional Mortgage Guidance Apply to All Mortgage Originators -
Comptroller of the Currency John C. Dugan said today it is vital that the
key principles of the federal nontraditional mortgage guidance not be
watered down and that they should be applied to all mortgage originators.
www.occ.treas.gov/toolkit/newsrelease.aspx?Doc=4DTXZX3L.xml
October 17, 2006 - Federal Reserve Bank of San Francisco Announces New
Economic Advisory Council Members - John P. Connolly, national president of
the American Federation of Television and Radio Artists, AFL-CIO, and Vivek
Paul, a partner at Texas Pacific Group, have joined the Federal Reserve Bank
of San Francisco's Economic Advisory Council for three-year terms, to
conclude in 2009.
www.frbsf.org/news/releases/2006/1017.html
October 17, 2006 - Statistical Release - G.17 Industrial Production -
Industrial production decreased 0.6 percent in September after having been
unchanged in August. For the third quarter as a whole, industrial production
rose at an annual rate of 3.6 percent, down from the rapid pace of gains in
the previous three quarters. Nonetheless, production at the end of the
quarter was about 5-1/2 percent above its year-earlier level.
www.federalreserve.gov/releases/g17/current/default.htm
October 17, 2006 - Governor Susan Schmidt Bies - A Supervisory Perspective
on Enterprise Risk Management - At the American Bankers Association Annual
Convention, Phoenix, Arizona.
www.federalreserve.gov/boarddocs/speeches/2006/20061017/default.htm
October 16, 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.
www.occ.treas.gov/ftp/release/2006-114.htm
October 16, 2006 - Proposal to approve under OMB delegated authority the
extension for three years, without revision, of the following report:
Domestic Branch Notification.
www.federalreserve.gov/generalinfo/foia/proposedregs.cfm
October 16, 2006 - Comptroller Speaks to the American Bankers Association
about Credit Risk and Loan Loss Reserves - Comptroller of the Currency John
C. Dugan cautioned bankers against easing underwriting practices and
inappropriately lowering loan loss reserves during today's speech to the
American Bankers Association.
www.occ.treas.gov/toolkit/newsrelease.aspx?Doc=S6LR4YMW.xml
October 16, 2006 - FDIC Announces Key Appointments: Alice Goodman Named
Deputy to the Chairman; Eric Spitler Named Director of Legislative Affairs.
www.fdic.gov/news/news/press/2006/pr06092.html
October 16, 2006 - Chairman Ben S. Bernanke - Bank Regulation and
Supervision: Balancing Benefits and Costs - Before the Annual Convention of
the American Bankers Association, Phoenix, Arizona, and the Annual
Convention of America's Community Bankers, San Diego, California.
www.federalreserve.gov/boarddocs/speeches/2006/20061016/default.htm
October 13, 2006 - OTS Appoints Wayne Leiss As Chief Information Officer -
Office of Thrift Supervision Director John M. Reich announced the selection
of Wayne G. Leiss as the agency's Chief Information Officer.
www.ots.treas.gov/docs/7/776048.html
October 13, 2006 - The Federal Reserve Board on Friday announced its
approval of the notice filed by National City Corporation, Cleveland, Ohio,
to acquire Harbor Florida Bancshares, Inc. and its subsidiaries, Harbor
Federal Savings Bank and Appraisal Analysis, Inc., all of Fort Pierce,
Florida.
www.federalreserve.gov/boarddocs/press/orders/2006/20061013/default.htm
October 13, 2006 - The Federal Reserve Board on Friday announced its
approval of the applications under section 3 of the Bank Holding Company Act
by Grupo Financiero Banorte, S.A. de C.V., and its subsidiaries, Banco
Mercantil del Norte, S.A., Institución de Banca Múltiple, both of Monterrey,
Nuevo León, Mexico, and Banorte USA Corporation, Wilmington, Delaware, to
become bank holding companies, and to acquire 70 percent of the voting
securities of INB Financial Corporation, McAllen, Texas, and thereby acquire
control of its subsidiaries, INB Delaware Corporation, Wilmington, Delaware,
and Inter National Bank, McAllen, Texas.
www.federalreserve.gov/boarddocs/press/orders/2006/200610132/default.htm
__________________
October 12, 2006 - Statistical Release - Large Commercial Banks -
Insured U.S.-Chartered Commercial Banks That Have Consolidated Assets Of
$300 Million Or More, Ranked By Consolidated Assets As of June 30, 2006.
www.federalreserve.gov/releases/lbr/current/default.htm
October 12, 2006 - FRB Statistical Release - Minority-Owned Banks.
www.federalreserve.gov/releases/mob/current/default.htm
October 12, 2006 - Household Debt Service and Financial Obligations Ratios -
The household debt service ratio is an estimate of the ratio of debt
payments to disposable personal income. Debt payments consist of the
estimated required payments on outstanding mortgage and consumer debt.
www.federalreserve.gov/releases/housedebt/default.htm
October 12, 2006 - Beige Book - Informal review by the Federal Reserve Banks
of current economic conditions in their Districts.
www.federalreserve.gov/fomc/beigebook/2006/20061012/default.htm
October 12, 2006 - The Federal Reserve Board on Thursday announced the
issuance of a consent Order of Assessment of Civil Money Penalty against
John Price, a former Senior Vice-President of the former Gold Bank, Leawood,
Kansas.
www.federalreserve.gov/boarddocs/press/Enforcement/2006/20061012/default.htm
October 12, 2006 - NCUA Vice Chairman Emphasizes Role of Health Savings
Accounts in Maintaining Healthy Economy - National Credit Union
Administration Vice Chairman Rodney E. Hood visited Vision Financial Federal
Credit Union this week and addressed a gathering of credit union managers
and CEO's from across the state of North Carolina. During his remarks, the
Vice Chairman discussed his regulatory philosophy and praised credit unions
for stimulating economic growth.
www.ncua.gov/news/press_releases/2006/MA06-1012.htm
October 12, 2006 - Comptroller Dugan Highlights OCC Efforts to Assist
Minority Banks - Comptroller of the Currency John C. Dugan said today that
the OCC is exploring new ways of providing minority-owned national banks
with tools that may assist them in strengthening their operations and
financial performance.
www.occ.treas.gov/toolkit/newsrelease.aspx?Doc=CWU3KNBG.xml
October 12, 2006 - Governor Frederic S. Mishkin - Globalization: A Force for
Good? - Weissman Center Distinguished Lecture Series, Baruch College, New
York, New York.
www.federalreserve.gov/boarddocs/speeches/2006/20061012/default.htm
October 11, 2006 - Local Executive Named To Federal Reserve Bank Of Kansas
City's Advisory Council - The Federal Reserve Bank of Kansas City has named
a new member to its Tenth District Economic Advisory Council. Larissa Herda,
chairman, president and chief executive officer of Time Warner Telecom in
Littleton, Colo. is joining the Council for a two-year term.
http://www.kc.frb.org/pubaffrs/pressrel/pr06-18.pdf
October 11, 2006 - Interagency Guidance on Nontraditional Mortgage Product
Risks - On September 29, 2006, the Federal Reserve and the other federal
financial institutions regulatory agencies issued the attached Interagency
Guidance on Nontraditional Mortgage Product Risks.
www.federalreserve.gov/boarddocs/srletters/2006/sr0615.htm
October 11, 2006 - The Federal Reserve Board and the Federal Open Market
Committee on Wednesday released the attached minutes of the Committee
meeting held on September 20, 2006.
www.federalreserve.gov/boarddocs/press/monetary/2006/20061011/default.htm
October 11, 2006 - National Credit Union Administration Issues Prohibition
Orders - The National Credit Union Administration has issued orders
prohibiting the following individuals
www.ncua.gov/news/press_releases/2006/MR06-1011.htm
October 11, 2006 - Remarks by Governor Susan Schmidt Bies - At the British
Bankers' Association 10th Annual Supervision Conference, London, England
October 11, 2006
www.federalreserve.gov/boarddocs/speeches/2006/20061011/default.htm
October 11, 2006 - FDIC Board Approves Regulation to Provide Insured
Institutions with a One-Time Assessment Credit - The Board of Directors of
the Federal Deposit Insurance Corporation today approved a regulation to
implement a one-time credit of $4.7 billion to banks and thrifts that was
required under the Deposit Insurance Reform Act of 2005. The credit will be
used to offset future assessments charged by the FDIC.
www.fdic.gov/news/news/press/2006/pr06091.html
October 11, 2006 - Louisianans Receive New Rebuilding Help From Joint
Education Effort by FDIC and Neighborworks® America - The Federal Deposit
Insurance Corp., and NeighborWorks® America today announced the availability
of a new information resource for the tens of thousands of Louisiana's
homeowners looking for actionable guidance on how to rebuild their homes
after Hurricanes Katrina and Rita.
www.fdic.gov/news/news/press/2006/pr06090.html
October 6, 2006 - Statistical Release - G.19 Consumer Credit - Consumer
credit increased at an annual rate of 2-1/2 percent in August. Revolving
credit rose at an annual rate of 4-1/4 percent and nonrevolving credit rose
at an annual rate of 1-1/2 percent.
www.federalreserve.gov/Releases/G19/Current/default.htm
October 6, 2006 - The Federal Reserve Board on Friday announced its approval
of the application by Sky Financial Group, Inc., Bowling Green, to acquire
Wells River Bancorp, Inc. and its subsidiary bank, Perpetual Savings Bank,
both of Wellsville, all of Ohio.
www.federalreserve.gov/boarddocs/press/orders/2006/20061006/default.htm
October 6, 2006 - Comptroller of the Currency Hosts Community Bank Directors
Workshop in Memphis -The Office of the Comptroller of the Currency will host
a workshop for national community bank directors at the Doubletree Hotel,
Memphis, Tenn., on Nov. 7.
www.occ.treas.gov/toolkit/newsrelease.aspx?Doc=5OLR1DE7.xml
October 6, 2006 - Comptroller of the Currency HostsCommunity Bank Directors
Workshops in New Orleans -The Office of the Comptroller of the Currency will
host workshops for national community bank directors at the Astor Crowne
Plaza Hotel, New Orleans, November 14-15.
www.occ.treas.gov/toolkit/newsrelease.aspx?Doc=LFYWGOOW.xml
___________________
October 5, 2006 - FDIC Issues List of Banks Examined For CRA
Compliance - The Federal Deposit Insurance Corporation today issued its list
of state nonmember banks recently evaluated for compliance with the
Community Reinvestment Act.
www.fdic.gov/news/news/press/2006/pr06089.html
October 5, 2006 - FDIC State Profiles Show Continued Strong Banking
Performance and a Slowing U.S. Economy - Strong financial performance for
FDIC-insured institutions continued through mid-2006 in virtually every
region of the nation, according to a series of reports issued today by the
Federal Deposit Insurance Corporation.
www.fdic.gov/news/news/press/2006/pr06088.html
October 5, 2006 - Agency Information Collection Activities - Proposal to
request approval from OMB the extension for three years, with revision, of
the following currently approved collections of information: Foreign Branch
Report of Condition.
www.federalreserve.gov/generalinfo/foia/proposedregs.cfm
October 4, 2006 - Vice Chairman Donald L. Kohn - Economic Outlook - At the
Money Marketeers of New York University, New York, New York.
www.federalreserve.gov/boarddocs/speeches/2006/200610042/default.htm
October 4, 2006 - Nontraditional Mortgage Products - The Office of the
Comptroller of the Currency, the Board of Governors of the Federal Reserve
System, the Federal Deposit Insurance Corporation, the Office of Thrift
Supervision, and the National Credit Union Administration have jointly
issued the attached "Interagency Guidance on Nontraditional Mortgage Product
Risks." The guidance discusses how institutions can offer nontraditional
mortgage products in a safe and sound manner and in a way that clearly
discloses the benefits and risks to borrowers.
Press Release:
www.occ.treas.gov/ftp/bulletin/2006-41.html
Press Release:
www.occ.treas.gov/ftp/bulletin/2006-42.html
Press Release:
www.occ.treas.gov/ftp/bulletin/2006-43.html
Press Release:
www.fdic.gov/news/news/financial/2006/fil06090.html
Press Release:
www.ncua.gov/letters/2006/CU/06-CU-16_enclosure2.pdf
Press Release:
www.fdic.gov/news/news/financial/2006/fil06090.html
October 4, 2006 - Chairman Ben S. Bernanke - The Coming Demographic
Transition: Will We Treat Future Generations Fairly? - Before The Washington
Economic Club, Washington, D.C.
www.federalreserve.gov/boarddocs/speeches/2006/20061004/default.htm
October 3, 2006 - Electricity: The Next Looming Energy Crisis? - While most
people are worrying about skyrocketing petroleum and gas prices, they may
want to keep an eye on electricity as well, said an economist with the
Federal Reserve Bank of St. Louis.
www.stlouisfed.org/news/releases/2006/10_03_06.html
October 3, 2006 - St. Louis Fed's The Regional Economist: Electricity-The
Next Energy Jolt?; Adding Up the Economic Effects of Immigration; Income
Inequality Predicts the Timing of Predatory Lending Laws; Community Profile:
Columbia, Mo.
www.stlouisfed.org/news/releases/2006/10_03_06b.html
October 3, 2006 - FDIC Makes Public August Enforcement Actions; - The
Federal Deposit Insurance Corporation today released a list of orders of
administrative enforcement actions taken against banks and individuals in
August. No administrative hearings are scheduled for October.
www.fdic.gov/news/news/press/2006/pr06087.html
October 2, 2006 - OTS Director Reich Commends Congress on Passage of
Regulatory Relief Legislation - Office of Thrift Supervision Director John
Reich, who lead the federal banking agencies' regulatory relief efforts the
last three years, commended Congress for its passage of the "Financial
Services Regulatory Relief Act of 2006," the regulatory burden relief bill
for the financial services industry.
www.ots.treas.gov/docs/7/776047.html
October 2, 2006 - Statistical Release - G.5 Foreign Exchange Rates - The
Table Below Shows The Average Rates Of Exchange In September 2006 Together
With Comparable Figures For Other Months. Averages Are Based On Daily Noon
Buying Rates For Cable Transfers In New York City Certified For Customs
Purposes By The Federal Reserve Bank Of New York.
www.federalreserve.gov/releases/g5/Current/default.htm |
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