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Bank Regulatory News

September 2006

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September 29, 2006 - Comptroller Salutes Legislation to Raise Part 24 Community Development Investment Limit - Comptroller of the Currency John C. Dugan released the following statement in response to passage of legislation raising the cap on the public welfare investment authority for financial institutions, known as Part 24. www.occ.treas.gov/toolkit/newsrelease.aspx?Doc=9NTCSMUO.xml 

September 29, 2006 - NCUA - Opinion Letter - 06-0840 - Share Insurance Coverage for Guardian Accounts.   www.ncua.gov/RegulationsOpinionsLaws/opinion_letters/2006/06-0840.pdf 

September 29, 2006 - Payment Systems Forums and Outreach - Summary of the roundtable discussion on the role of wire transfers in making low-value payments.  www.federalreserve.gov/paymentsystems/lowvaluepay/default.htm 

September 29, 2006 - The Federal Reserve Board announced Friday that the Consumer Advisory Council will hold its next meeting on Thursday, October 26. The meeting will take place in Dining Room E, Terrace level, in the Board's Martin Building. www.federalreserve.gov/boarddocs/press/other/2006/20060929/default.htm 

September 29, 2006 - The Federal Reserve Board on Friday announced its approval of the notice filed by Wachovia Corporation, Charlotte, North Carolina, to acquire all the voting shares of Golden West Financial Corporation ("Golden West"), Oakland, California, and thereby acquire World Savings Bank FSB, Oakland, California, and World Savings Bank FSB (Texas), Houston, Texas, and the other nonbanking subsidiaries of Golden West. www.federalreserve.gov/boarddocs/press/orders/2006/20060929/default.htm 

September 29, 2006 - Comptroller of the Currency Praises Interagency Work on Non-Traditional Mortgage Guidance - Comptroller of the Currency John C. Dugan today released the following statement after the release of final interagency guidance on non-traditional mortgages. www.occ.treas.gov/toolkit/newsrelease.aspx?Doc=AUEO7DE.xml 

September 29, 2006 - Banking Structure - 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 

September 29, 2006 - Federal Financial Regulatory Agencies Issue Final Guidance on Nontraditional Mortgage Product Risks - The federal financial regulatory agencies today issued final guidance to address the risks posed by residential mortgage products that allow borrowers to defer repayment of principal and sometimes interest (Interagency Guidance on Nontraditional Mortgage Product Risks).
Press Release: www.federalreserve.gov/boarddocs/press/bcreg/2006/20060929/default.htm 
Press Release: www.fdic.gov/news/news/press/2006/pr06086.html 
Press Release: www.occ.treas.gov/toolkit/newsrelease.aspx?JNR=1&Doc=M3ZM5FQW.xml 
Press Release: www.ots.treas.gov/docs/7/776046.html 

September 28, 2006 - OCC Reports Bank Quarterly Derivatives Earnings of $4.7 Billion - Insured commercial banks earned $4.7 billion trading cash instruments and derivative products in the second quarter of 2006, the Office of the Comptroller of the Currency reported today in its quarterly Bank Derivatives Report. For comparison purposes, banks earned $5.7 billion from trading activities in the first quarter of 2006 and $1.96 billion in the second quarter of 2005.
Press Release: www.occ.treas.gov/toolkit/newsrelease.aspx?Doc=POYTDZP.xml 
Attachment: www.occ.treas.gov/ftp/deriv/dq206.pdf 

September 28, 2006 - FRB Statistical Release - G.20 Finance Companies. www.federalreserve.gov/releases/g20/Current/default.htm 

September 28, 2006 - FDIC to Hold Identity Theft Symposia Building Confidence in an E-Commerce World - The Federal Deposit Insurance Corporation has announced that it will hold its next symposia on the importance of consumer confidence in e-commerce on October 5th in Mesa, Arizona, and on October 25th in Miami Beach, Florida. The half-day meetings 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/pr06085.html 

September 27, 2006 -OCC First Senior Deputy Comptroller and Chief Counsel Testifies on Bank Premise Issues Before House Subcommittee - First Senior Deputy Comptroller and Chief Counsel Julie L. Williams discussed three interpretive letters issued by the OCC in December 2005 in testimony today before the Subcommittee on Government Management, Finance, and Accountability of the House Committee on Government Reform. www.occ.treas.gov/toolkit/newsrelease.aspx?Doc=TY2I1ZEF.xml 

September 27, 2006 - Governor Randall S. Kroszner - What Drives Productivity Growth? Implications for the Economy and Prospects for the Future - At The Forecasters Club of New York, New York, New York.  www.federalreserve.gov/boarddocs/speeches/2006/20060927/default.htm 

September 27, 2006 - OTS Announces Proposal To Align CRA Regulation With Other Federal Banking Agencies - The Office of Thrift Supervision announced today that it intends to publish a Notice of Proposed Rulemaking to align its Community Reinvestment Act regulations with those adopted by the other federal banking agencies in August 2005. www.ots.treas.gov/docs/7/776045.html 

September 26, 2006 - NCUA - National Credit Union Administration Issues Prohibition Orders - The National Credit Union Administration has issued orders prohibiting the following individuals from participating in the affairs of any federally insured financial institution. www.ncua.gov/news/press_releases/2006/MR06-0926.htm 

September 26, 2006 - Revised Shared National Credit Data - Note: This version of the September 25, 2006, release of the Shared National Credit data corrects several discrepancies. Specifically, the non-accrual amounts in the second paragraph of the Overview on page 2 and in Table 1 have been revised. These amounts now match the non-accrual amounts previously reported in Table 2. In Appendix B, the section titled "All Industries (Total)" corrects the line items titled "% Classified" and "% Special Mention" for the years 2001, 2002, and 2003. www.ots.treas.gov/docs/7/776044.html 

September 26, 2006 - OCC Announces New Electronic Interpretations and Actions - September 2006.  www.occ.treas.gov/interp/sep06/intsep06.htm

September 26, 2006 - Proposed Revisions to (1) Risk-Based Capital Rule Implementing the new Basel Capital Accord and (2) Market Risk Rule: Notices of Proposed Rulemaking - This bulletin summarizes proposed revisions to the Basel II risk-based capital rule and the market risk rule. www.occ.treas.gov/ftp/bulletin/2006-40.html 

September 26, 2006 - Comptroller Dugan Tells Senate Panel that Basel II Capital Framework - Will Substantially Improve Large Bank Risk Management and Controls - Comptroller of the Currency John C. Dugan told a Senate committee today that the inadequacies of the current Basel I capital regime for the largest internationally active banks are a matter of great concern to the OCC because the agency supervises the five largest banks in the United States, some of which hold more than $1 trillion in assets, have complex balance sheets, take complex risks, and have complex risk management needs that are fundamentally different from those faced by community and mid-size banks. www.federalreserve.gov/boarddocs/testimony/2006/20060926/default.htm 

September 26, 2006 - Governor Susan Schmidt Bies - Basel II - Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate.   www.federalreserve.gov/boarddocs/testimony/2006/ 

September 26, 2006 - The Federal Reserve Board on Tuesday announced the termination of the enforcement actions listed below. Terminations of enforcement actions are listed on the Federal Reserve's public web site, www.federalreserve.gov/boarddocs/enforcement, as they occur. www.federalreserve.gov/boarddocs/press/Enforcement/2006/20060926/default.htm 

September 25, 2006 - Comptroller of the Currency Tours East D.C. Market Opportunities - Comptroller of the Currency John C. Dugan led a delegation of bankers, community representatives, and staff on a tour of community development projects in Wards 7 and 8 of Washington D.C. www.occ.treas.gov/toolkit/newsrelease.aspx?Doc=GBJ5NLG.xml 

September 25, 2006 - Financial Education FDIC Guide to Money Management for Teens - The FDIC has published a special guide to help teens (and many pre-teens) learn about saving and managing their money. The FDIC is encouraging financial institutions to make the information in this publication, as well as two previously published guides for seniors and young adults, widely available. www.fdic.gov/news/news/financial/2006/fil06088.html 

September 25, 2006 - Shared National Credit Data Reflect Good Credit Quality Performance, Large Increase in Credit1 Commitment Volume, and Small Rise in Riskier Deals - The volume of syndicated credits rose rapidly, in part reflecting a rise in merger and acquisition activity over the past year, according to the Shared National Credit 2 review released today by federal bank and thrift regulators. The review noted a small increase in problem credits as a share of commitments in 2006.
Press Release: www.federalreserve.gov/boarddocs/press/bcreg/2006/20060925/default.htm 
Press Release: www.fdic.gov/news/news/press/2006/pr06084.html 
Press Release: www.occ.treas.gov/ftp/release/2006-102.htm 
Press Release: www.ots.treas.gov/docs/7/776043.pdf 

September 25, 2006 - Comptroller of the Currency Hosts Community Bank Directors Workshop in Orlando - The Office of the Comptroller of the Currency will host a workshop for national community bank directors at the Peabody Hotel, Orlando, Fla., on Oct. 24. www.occ.treas.gov/toolkit/newsrelease.aspx?Doc=COYDMB19.xml 

September 25, 2006 - Risk-Based Capital Rules Proposed Rule on Risk-Based Capital Standards: Market Risk - The federal bank and thrift regulatory agencies have jointly issued the attached notice of proposed rulemaking on possible modifications to the risk-based capital standards for market risk. The proposed rule would incorporate improvements to the current trading book regime as proposed by the Basel Committee on Bank Supervision and the International Organization of Securities Commissions in the joint document The Application of Basel II to Trading Activities and the Treatment of Double Default Effects, published in July 2005. www.fdic.gov/news/news/financial/2006/fil06087.html 

September 25, 2006 - Risk-Based Capital Rules Proposed Rule on Risk-Based Capital Standards: Advanced Capital Adequacy Framework - The federal bank and thrift regulatory agencies have jointly issued and are seeking comment on the attached notice of proposed rulemaking concerning the domestic application of selected elements of the Basel II capital framework. The proposed rule would require some core banks, and permit other banks, to use an internal ratings-based approach to calculate regulatory credit risk capital requirements and an advanced measurement approach to calculate regulatory operational risk capital requirements. www.fdic.gov/news/news/financial/2006/fil06086.html 

September 22, 2006 - NCUA - Letter to Credit Unions 06-CU-15 - Credit Union Financial Trends for June 2006.  www.ncua.gov/letters/2006/CU/06-CU-15.pdf 

September 22, 2006 - OTS Director Reich Stresses Vigilance in Combating Mortgage Fraud - Office of Thrift Supervision Director John Reich today addressed the issue of mortgage fraud at a joint conference of the Ohio Bankers League and the Illinois League of Financial Institutions in Colorado Springs, CO. Reich discussed the proliferation of fraudulent activity in the mortgage industry attendant to the mortgage boom, and the ways in which bankers and regulators can identify and fight mortgage fraud. www.ots.treas.gov/docs/7/776042.html 

September 22, 2006 - Default Estimation for Low-Default Portfolios - by Nicholas M. Kiefer - The problem in default probability estimation for low-default portfolios is that there is little relevant historical data information. No amount of data processing can fix this problem. More information is required. Incorporating expert opinion formally is an attractive option. www.occ.treas.gov/wp2006-2.htm 

September 22, 2006 - Reports of Condition and Income for Third Quarter 2006 - The enclosed materials pertain to the Reports of Condition and Income for the September 30, 2006, report date. Please plan to complete the preparation, editing, review, and submission of your Call Report 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. If you later find that certain information needs to be revised, please make the appropriate changes to your Call Report data and promptly submit the revised data file to the CDR. www.fdic.gov/news/news/financial/2006/fil06085.html 

September 20, 2006 - Sandra F. Braunstein, Director, Division of Consumer and Community Affairs - Non-traditional mortgage products - Before the Subcommittee on Housing and Transportation and the Subcommittee on Economic Policy, Committee on Banking, Housing, and Urban Affairs, U.S. Senate www.federalreserve.gov/boarddocs/testimony/2006/20060920/default.htm

September 21, 2006 - Does The Time Inconsistency Problem Make Flexible Exchange Rates Look Worse Than You Think? - Roc Armenter Martin Bodenstein - The Barro-Gordon inflation bias has provided the most influential argument for fixed exchange rate regimes. However, with low inflation rates now widespread, credibility concerns seem no longer relevant. www.federalreserve.gov/pubs/ifdp/2006/865/ifdp865.htm 

September 21, 2006 - The Federal Reserve Board today announced the appointment of Roger T. Cole as director of the Division of Banking Supervision and Regulation, effective immediately. www.federalreserve.gov/boarddocs/press/other/2006/20060921/default.htm 

September 21, 2006 - NCUA - The Results of the 9/21/2006 NCUA Board Meeting is Available.  www.ncua.gov/NCUABoard/board_reports/BAB06-0921.pdf 

September 20, 2006 - OCC Deputy Comptroller Testifies before Senate Subcommittees On Nontraditional Mortgage Products - Deputy Comptroller Kathryn E. Dick discussed nontraditional mortgage products and the proposed interagency guidance on those products in testimony today before the Subcommittee on Economic Policy and the Subcommittee on Housing and Transportation of the Senate Committee on Banking, Housing, and Urban Affairs. www.occ.treas.gov/toolkit/newsrelease.aspx?Doc=QQBF7ED2.xml 

September 20, 2006 - Office Of Foreign Assets Control Amendment to Iranian Transactions Regulations - The Department of the Treasury's Office of Foreign Assets Control has amended the Iranian Transactions Regulations to prohibit all transactions with Bank Saderat. www.fdic.gov/news/news/financial/2006/fil06084.html 

September 20, 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/2006/20060920/default.htm 

September 20, 2006 - Pat Pointer Named Deputy Comptroller for Workforce Effectiveness - The Office of the Comptroller of the Currency announced that Pat Pointer has joined the agency as the Deputy Comptroller for Workforce Effectiveness. She replaces Cindy Petitt, who is retiring. www.occ.treas.gov/toolkit/newsrelease.aspx?Doc=KORNTRHI.xml 

September 20, 2006 - OCC Releases CRA Evaluations For 29 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 August 15, 2006 through September 14, 2006. www.occ.treas.gov/toolkit/newsrelease.aspx?Doc=3PTARNP6.xml 

September 20, 2006 - Sandra F. Braunstein, Director, Division of Consumer and Community Affairs Non-traditional mortgage products - Before the Subcommittee on Housing and Transportation and the Subcommittee on Economic Policy, Committee on Banking, Housing, and Urban Affairs, U.S. Senate www.federalreserve.gov/boarddocs/testimony/2006/20060920/default.htm 

September 19, 2006 - FRB Banking Information and Regulation -- Supervision Examiner Education Course Catalog.   www.federalreserve.gov/bankinforeg/coursecatalog/default.htm 

September 19, 2006 - FRB Statistical Release - E.2 Survey of Terms of Business Lending.  www.federalreserve.gov/Releases/E2/Current/default.htm 

September 19, 2006 - NCUA - Balanced Approach Key Says Hyland During Remarks at NAFCU Congressional Caucus - National Credit Union Administration Board Member Gigi Hyland spoke today before over 400 participants at NAFCU's Congressional Caucus in Washington D.C. www.ncua.gov/news/press_releases/2006/MA06-0918-3.htm 

September 19, 2006 - Federal Reserve Bulletin Article -- Revision to "Higher-Priced Home Lending and the 2005 HMDA Data" - Table 8 data revised to correct computational errors. www.federalreserve.gov/pubs/bulletin/default.htm 

September 18, 2006 - Teach Children to Save Day," in which volunteers from various financial institutions visit Louisville-area elementary schools to conduct a 45-minutes lesson for the students on how to save money. As part of the lesson, little green plastic piggy banks, made partly out of recycled U.S. currency, will be given to the students. www.stlouisfed.org/news/releases/2006/09_18_06.html 

September 18, 2006 - Deposit Insurance Coverage - Changes to FDIC Rule for Deposit Insurance Coverage - The FDIC Board of Directors has permanently adopted the attached final rule to implement provisions of the Federal Deposit Insurance Reform Act of 2005 pertaining to deposit insurance coverage. The Board had issued an interim rule, effective April 1, 2006, to implement the new insurance coverage provisions. www.fdic.gov/news/news/financial/2006/fil06083.html 

September 15, 2006 - OTS Lists 52 CRA Exams Scheduled For Fourth Quarter 2006 - The Office of Thrift Supervision announced today that 52 savings associations are scheduled for Community Reinvestment Act examinations during the fourth quarter of 2006. www.ots.treas.gov/docs/7/776041.html 

September 15, 2006 - Statistical Release - G.17 Industrial Production - Industrial production declined 0.1 percent in August after an increase of 0.4 percent in July. Manufacturing output was unchanged in August; it advanced an upward-revised 0.4 percent in July. The output at utilities fell in August, as temperatures returned to more-normal levels. Production at mines moved down after increasing in the previous four months. www.federalreserve.gov/releases/g17/Current/default.htm 

September 15, 2006 - The Federal Reserve Board on Friday announced its approval of the application filed by Passumpsic Bancorp, St. Johnsbury, Vermont, to merge with The Siwooganock Holding Company, Inc. ("Siwooganock") and acquire its subsidiary bank, The Siwooganock Bank, and Siwooganock's ownership of 10 percent of the voting shares of The Lancaster National Bank, all of Lancaster, New Hampshire. www.federalreserve.gov/boarddocs/press/orders/2006/20060915/default.htm 

September 14, 2006 - Statement by Governor Bies on the death of Andrei Kozlov, first deputy chairman of Russia's central bank.   www.federalreserve.gov/boarddocs/press/other/2006/20060914/default.htm

September 14, 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/2006-97.htm 

September 14, 2006 - The Federal Reserve Board on Thursday announced its approval of the application filed by Glacier Bancorp, Inc., Kalispell, to acquire Citizens Development Company, Billings, and its subsidiary banks: First Citizens Bank of Billings, Billings; First National Bank of Lewistown, Lewistown; Western Bank of Chinook National Association, Chinook; First Citizens Bank, National Association, Columbia Falls; and Citizens State Bank, Hamilton, all of Montana. www.federalreserve.gov/boarddocs/press/orders/2006/20060914/default.htm 

September 14, 2006 - Comptroller Dugan Tells House Panel that Goal of Basel II Capital Framework And Commercial Real Estate Guidance is to Address Risks Facing Banking System - Comptroller of the Currency John C. Dugan told a House subcommittee today that the Basel II capital framework is intended not only to align capital requirements more closely to the complex risks inherent in large, internationally active banks, but to require those institutions to substantially improve their risk management systems and controls. www.occ.treas.gov/toolkit/newsrelease.aspx?Doc=0GNJWZK3.xml 

September 14, 2006 - Governor Susan Schmidt Bies - Basel II and commercial real estate - Before the Subcommittee on Financial Institutions and Consumer Credit, Committee on Financial Services, U.S. House of Representatives.   www.federalreserve.gov/boarddocs/testimony/2006/20060914/default.htm 

September 13, 2006 - "Depository Services," Comptroller's Handbook for Consumer Compliance Revised booklet covers reserve requirements, electronic fund transfers, expedited funds availability, and truth in savings. Incorporates changes to regulations CC (12 CFR 229) and E (12 CFR 205). www.occ.treas.gov/handbook/depserv.pdf 

September 12, 2006 - OCC Releases Quarterly Journal, Vol. 25, No. 2 (June 2006) on the Web -Includes first quarter 2006 condition and performance of banks; including new tables on bank performance by OCC district, and other policy and data. www.occ.treas.gov/qj/qj.htm 

September 12, 2006 - OCC Named One of the Top Places to Start a Career - The Office of the Comptroller of the Currency was named one of the 50 best places in America to start a career by Business Week magazine. www.occ.treas.gov/toolkit/newsrelease.aspx?Doc=QCICLB1O.xml 

September 11, 2006 - GSEs, Mortgage Rates, and Secondary Market Activities - Andreas Lehnert, Wayne Passmore, and Shane M. Sherlund - 2006-30 - Fannie Mae and Freddie Mac are government-sponsored enterprises that securitize mortgages and issue mortgage-backed securities. In addition, the GSEs are active participants in the secondary mortgage market on behalf of their own investment portfolios. http://www.federalreserve.gov/pubs/feds/2006/200630/index.html 

September 11, 2006 - The Federal Reserve Board on Monday announced its approval of the application filed by First National Bank Group, Inc., Edinburg, to acquire up to 9.9 percent of the voting shares of Southside Bancshares, Incorporated, Tyler, both in Texas. www.federalreserve.gov/boarddocs/press/orders/2006/20060911/default.htm 

September 11, 2006 - The Federal Reserve Board on Monday announced the execution of a Written Agreement by and among the Exchange Bank of Missouri, Fayette, Missouri, the Missouri Division of Finance and the Federal Reserve Bank of Kansas City.

September 11, 2006 - Vice Chairman Donald L. Kohn - Evolution of Retail Payments and the Role of the Federal Reserve At the Western Payments Alliance 2006 Payments Symposium, Las Vegas, Nevada.  www.federalreserve.gov/boarddocs/speeches/2006/20060911/default.htm 

September 8, 2006 - OTS Named EU Coordinating Supervisor of Ameriprise Financial Group Unit Threadneedle Group - The United Kingdom's Financial Services Authority, coordinating supervisor in the European Union of Threadneedle Group, a unit of Ameriprise Financial Group, determined on August 14, 2006, that the Office of Thrift Supervision provides equivalent consolidated supervision for Ameriprise Financial Group, in accordance with the EU's Financial Conglomerates Directive, which took effect January 1, 2005. www.ots.treas.gov/docs/7/776040.html 

September 8, 2006 - Customer Authentication and Internet Banking Alert - Alert warns financial institutions of possible increased fraudulent activity in efforts to gain customer information by way of deceitful communications as Authentication conformance date nears. www.occ.treas.gov/ftp/alert/2006-50.html 

September 8, 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. www.federalreserve.gov/generalinfo/fhc/ 

September 8, 2006 - FRB Statistical Release - G.19 Consumer Credit.  www.federalreserve.gov/Releases/G19/Current/default.htm 

September 8, 2006 - The Federal Reserve Board on Friday announced its approval of the application by Fédération Nationale du Crédit Agricole and SAS Rue La Boétie, both of Paris, France, to become bank holding companies and to retain control of Espirito Santo Bank, Miami, Florida, through their subsidiary in Paris, Crédit Agricole S.A. www.federalreserve.gov/boarddocs/press/orders/2006/20060908/default.htm 

September 8, 2006 - NCUA - The National Credit Union Administration has issued an order prohibiting Patricia Diaab from participating in the affairs of any federally insured financial institution. www.ncua.gov/news/press_releases/2006/MR06-0908-2.htm 

September 8, 2006 - NCUA - The National Credit Union Administration has issued an order prohibiting George Gracie from participating in the affairs of any federally insured financial institution. www.ncua.gov/news/press_releases/2006/MR06-0908.htm 

September 8, 2006 - The Federal Financial Institutions Examination Council today announced the availability of data for the year 2005 on mortgage lending transactions at 8,848 financial institutions covered by the Home Mortgage Disclosure Act in metropolitan statistical areas throughout the nation.
Press Release: www.ffiec.gov/hmcrpr/hm090806.htm 
Press Release: www.ots.treas.gov/docs/7/776039.html 
Press Release: www.ncua.gov/news/press_releases/2006/FFIEC06-09-08.pdf 
Press Release: www.federalreserve.gov/pubs/bulletin/2006/hmda/bull06hmda.pdf 

September 7, 2006 - Bank Holding Company Supervision Manual - Provides guidance for conducting inspections of bank holding companies and their nonbank subsidiaries. The supervisory objectives of the inspection program are to ascertain whether the financial strength of the bank holding company is being maintained on an ongoing basis and to determine the effects or consequences of transactions between a holding company or its nonbanking subsidiaries and its subsidiary banks. www.federalreserve.gov/boarddocs/supmanual/supervision_bhc.htm 

September 7, 2006 - The Federal Reserve Board on Thursday released the minutes of its discount rate meetings from July 17 through August 7, 2006. www.federalreserve.gov/boarddocs/press/monetary/2006/20060907/default.htm 

September 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.  www.fdic.gov/news/news/press/2006/pr06083.html

September 6, 2006 - Beige Book - Informal review by the Federal Reserve Banks of current economic conditions in their Districts.  www.federalreserve.gov/fomc/beigebook/2006/20060906/default.htm 

September 6, 2006 - The Federal Reserve Board on Wednesday announced the termination of the enforcement actions listed below.
The Community State Bank, Poteau, Okla., Written Agreement dated October 14, 2004,Terminated August 15, 2006.
Bank of Gassaway, Gassaway, W.Va., Written Agreement dated October 21, 2003, Terminated September 5, 2006.

September 5, 2006 - Statistical Supplement to the Federal Reserve Bulletin - August 2006.  www.federalreserve.gov/whatsnew.htm 

September 5, 2006 - Agencies Seek Public Comment on Basel II and Market Risk Proposed Rulemakings - The federal bank and thrift regulatory agencies announced today that they will request public comment on a notice of proposed rulemaking that would implement new risk-based capital requirements in the United States for large, internationally active banking organizations.
Press Release: www.federalreserve.gov/boarddocs/press/bcreg/2006/20060905/default.htm 
Press Release: www.fdic.gov/news/news/press/2006/pr06082.html 
Press Release: www.occ.treas.gov/toolkit/newsrelease.aspx?JNR=1&Doc=8E4KDHK4.xml 
Press Release: http://www.ots.treas.gov/docs/7/776038.html 

September 5, 2006 - What Happens to Banks When House Prices Fall? - An analysis by a Federal Reserve Bank of St. Louis economist suggests that although U.S. banks have invested heavily in residential real estate loans and securities since 2000, they appear less vulnerable to a decline in housing prices than banks in states that experienced large house price declines in the 1980s and 1990s. www.stlouisfed.org/news/releases/2006/09_05_06.html 

September 5, 2006 - Frederic S. Mishkin on Tuesday took the oath of office as a member of the Board of Governors of the Federal Reserve System. The oath was administered by Chairman Bernanke in the Board Room. www.federalreserve.gov/boarddocs/press/other/2006/20060905/default.htm 

September 1, 2006 - Automated Clearing House Activities: Risk Management Guidance - This bulletin provides guidance for national banks and examiners on managing the risks of automated clearing house activity. http://www.occ.treas.gov/ftp/bulletin/2006-39.pdf 

September 1, 2006 - NCUA - Regulatory Alert 06-RA-05 - Home Ownership and Equity Protection Act.  www.ncua.gov/reg_alerts/2006/06-RA-05.pdf 

September 1, 2006 - NCUA - Letter to Credit Unions - 06-CU-14 Bank Secrecy Act /Anti-Money Laundering Manual Interagency Outreach.   www.ncua.gov/letters/2006/CU/06-CU-14.pdf 

September 1, 2006 - OCC Publishes Newsletter Covering Revisions to the Community Reinvestment Act - National banks invested $638 million to revitalize and stabilize communities in the second quarter of 2006 just one year after revised Community Reinvestment Act regulations took effect, according to a new Office of the Comptroller of the Currency publication. www.occ.treas.gov/toolkit/newsrelease.aspx?Doc=N5GQFVWC.xml 

September 1, 2006 - OCC Issues Fourth Quarter 2006 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 fourth quarter of 2006. www.occ.treas.gov/toolkit/newsrelease.aspx?Doc=QAQM1E3E.xml 

September 1, 2006 - Foreign Exchange Rates - The Table Below Shows The Average Rates Of Exchange In August 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 

September 1, 2006 - Chairman Ben S. Bernanke - Remarks - At the presentation of the Order of the Palmetto, Dillon, South Carolina www.federalreserve.gov/boarddocs/speeches/2006/20060901/default.htm


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