Bank Regulatory News

September 2010

September 30, 2010 - Acting Comptroller Testifies on Dodd-Frank Wall Street - Reform and Consumer Protection Act - Acting Comptroller of the Currency John Walsh discussed implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act in testimony today before the Senate Committee on Banking, Housing, and Urban Affairs. www.occ.treas.gov/ftp/release/2010-119.htm 

September 30, 2010 - The Importance of Community Colleges to the Tenth District Economy.  www.kc.frb.org/publicat/newsroom/2010pdf/press.release.10.23.pdf 

September 30, 2010 - Flow and Stock Effects of Large-Scale Treasury Purchases - Stefania D'Amico and Thomas B. King - Using a panel of daily CUSIP-level data, we study the effects of the Federal Reserve's program to purchase $300 billion of U.S. Treasury coupon securities announced and implemented during 2009.  www.federalreserve.gov/pubs/feds/2010/201052/index.html 

September 30, 2010 - Chairman Ben S. Bernanke - Welcoming Remarks - At the Federal Reserve System Town Hall Meeting with Educators, Washington, D.C. www.federalreserve.gov/newsevents/default.htm

September 30, 2010 - The Federal Reserve Board on Thursday announced that it will implement changes to its Payment System Risk policy on March 24, 2011. The Board approved these revisions in late 2008 for implementation approximately two years later, following substantial changes to the Reserve Banks' credit risk management infrastructure. www.federalreserve.gov/newsevents/press/other/20100930a.htm

September 30, 2010 - On Monday, October 4, 2010, the Federal Reserve will offer $5 billion in 28-day term deposits through its Term Deposit Facility. Additional information regarding the auction is listed below; the auction will be conducted as specified in this announcement, Regulation D, and the terms and conditions of the Term Deposit Facility. www.federalreserve.gov/newsevents/press/monetary/20100930a.htm 

September 30, 2010 - OCC Announces New Electronic Interpretations and Actions - September 2010.  www.occ.treas.gov/interp/sep10/intsep10.htm 

September 29, 2010 - Comptroller of the Currency Hosts Community Bank Directors Workshops in San Diego - The Office of the Comptroller of the Currency will host workshops for directors of nationally chartered community banks in San Diego, at the Hyatt Regency Mission Bay, November 2-4, 2010. www.occ.treas.gov/ftp/release/2010-118.htm 

September 29, 2010 - Chairman Ben S. Bernanke - Regulatory Reform Implementation - Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate, Washington, D.C. www.federalreserve.gov/newsevents/testimony/bernanke20100930a.htm 

September 29, 2010 - Agencies Issue Final Community Reinvestment Act Rule to Implement Provision of Higher Education Opportunity Act - The federal banking and thrift regulatory agencies today announced a final Community Reinvestment Act rule to implement a provision of the Higher Education Opportunity Act.
Press Release: www.federalreserve.gov/newsevents/press/bcreg/20100929a.htm 
Press Release: www.fdic.gov/news/news/press/2010/pr10219.html
Press Release: www.occ.treas.gov/ftp/release/2010-117.htm 
Press Release: www.ots.treas.gov/?p=PressReleases&ContentRecord_id=5e39d2ff-971e-2ebc-fc0c-3d2356a1daef&ContentType_id=4c12f337-b5b6-4c87-b45c-838958422bf3

September 29, 2010 - The Federal Reserve Board on Wednesday announced the execution of a Written Agreement by and between First Heritage Corporation, Carthage, Mississippi, a registered bank holding company, and the Federal Reserve Bank of Atlanta. www.federalreserve.gov/newsevents/press/enforcement/20100929a.htm 

September 28, 2010 - Fifth Annual Wisconsin Money Smart Week® October 2-9, 2010 - Hundreds of free classes and events that help consumers learn to manage their personal finances will be offered throughout the state during Wisconsin’s fifth-annual Money Smart Week being held October 2-9, 2010. www.chicagofed.org/webpages/utilities/newsroom/news_releases/2010/09.28_msw_wisc_release.cfm 

September 28, 2010 - Registration of Municipal Advisors: Dodd–Frank Act, Section 975 and SEC Interim Final Temporary Rule, - Rule requires municipal securities advisors to register by October 1, using Form MA-T, with the Securities and Exchange Commission before providing advice or soliciting municipal entities. www.occ.treas.gov/ftp/bulletin/2010-38.html

September 28, 2010 - OCC Newsletter Focuses on National Bank Community Development Investments - The Office of the Comptroller of the Currency today published the fall edition of Community Developments Investments, its on-line newsletter that provides a guide for national banks seeking a wide range of community and economic development investments under the public welfare investment authority.  www.occ.treas.gov/ftp/release/2010-116.htm 

September 28, 2010 - Credit Quality of the Shared National Credit Portfolio Improved in 2010 - The credit quality of large loan commitments owned by U.S. bank organizations, foreign bank organizations), and nonbanks remained weak in 2010, but improved from 2009, according to the Shared National Credits Review for 2010.
Press Release: www.federalreserve.gov/newsevents/press/bcreg/20100928a.htm 
Press Release: www.fdic.gov/news/news/press/2010/pr10218.html 
Press Release: www.occ.treas.gov/ftp/release/2010-115.htm
Press Release: www.ots.treas.gov/?p=PressReleases&ContentRecord_id=54db9d77-9233-29d7-4367-de520ab710d4&ContentType_id=4c12f337-b5b6-4c87-b45c-838958422bf3

September 27, 2010 - Midwest Manufacturing Output Decreased in August - Chicago Fed Midwest Manufacturing Index decreased 1.4% in August, to a seasonally adjusted level of 79.9. www.chicagofed.org/webpages/publications/cfmmi/index.cfm 

September 27, 2010 - Economic Activity Weakened in August - Chicago Fed National Activity Index was -0.53 in August, down from -0.11 in July. www.chicagofed.org/webpages/publications/cfnai/index.cfm 

September 27, 2010 - OCC Hosts Web and Telephone Seminar on How Community Banks Can Finance Small Business Exporters - The Office of the Comptroller of the Currency will host a live Web and telephone seminar from 2 to 3:30 p.m. on October 13, 2010.  www.occ.treas.gov/ftp/release/2010-114.htm

September 27, 2010 - OCC Reports Second Quarter Trading Revenue of $6.6 Billion - Commercial banks reported trading revenue of $6.6 billion in the second quarter of 2010, 28 percent higher than the second quarter of 2009, but 20 percent lower than the first quarter of 2010, the Office of the Comptroller of the Currency reported today in the OCC's Quarterly Report on Bank Trading and Derivatives Activities. www.occ.treas.gov/ftp/release/2010-113.htm
 
September 27, 2010 - Model Privacy Notice Form Compliance Guide - On December 1, 2009, the FDIC issued amendments to Part 332 of the FDIC's Rules and Regulations which implement the privacy provisions of the Gramm-Leach-Bliley Act and adopted the model privacy notice form.  www.fdic.gov/news/news/financial/2010/fil10060.html 

September 27, 2010 - Chairman's Remarks for Dodd-Frank Act Notice of Proposed Rulemaking - With the enactment of the Dodd-Frank Act on July 21st of this year, the FDIC was given the tools to resolve a failing financial company that poses a significant risk to the financial stability of the United States. We now have the framework in place to resolve any financial institution, no matter how large or complex.  www.fdic.gov/news/news/press/2010/statement_chairman_bair09272010.html 

September 27, 2010 - FDIC Board Proposes Rules on Temporary Unlimited Deposit Insurance Coverage for Noninterest- Bearing Transaction Accounts - The Federal Deposit Insurance Corporation Board of Directors today approved the issuance of a proposed rule to implement provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act to provide depositors at all FDIC-insured institutions unlimited deposit insurance coverage on noninterest-bearing transaction accounts beginning December 31, 2010 through December 31, 2012.
Press Release: www.fdic.gov/news/news/press/2010/pr10217.html 
Press Release: www.fdic.gov/news/news/financial/2010/fil10059.html 

September 27, 2010 - FDIC Board Approves Final Rule Regarding Safe Harbor Protection for Securitizations - The Board of Directors of the Federal Deposit Insurance Corporation today approved a final rule to extend through December 31, 2010, the Safe Harbor Protection for Treatment by the FDIC as Conservator or Receiver of Financial Assets Transferred by an Insured Depository Institution in Connection With a Securitization or Participation. Under this safe harbor, all securitizations or participations in process before the end of 2010 are permanently grandfathered under the existing terms of 12 C.F.R. Part 360.6. www.fdic.gov/news/news/press/2010/pr10216.html 

September 27, 2010 - Regulatory Reform - Meetings and discussions with the public through September 27, 2010 - The Federal Reserve Board will be involved in many rulemakings to implement the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.  www.federalreserve.gov/newsevents/reform_meetings.htm 

September 27, 2010 - 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

September 27, 2010 - The Federal Reserve Board on Monday announced the execution of a Written Agreement by and between Monarch Community Bancorp, Inc., Coldwater, Michigan, a registered bank holding company, and the Federal Reserve Bank of Chicago.   www.federalreserve.gov/newsevents/press/enforcement/20100927a.htm 

September 24, 2010 - Whidbey Island Bank, Coupeville, Washington, Assumes All of the Deposits of North County Bank, Arlington, Washington - North County Bank, Arlington, Washington, was closed today by the Washington Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Whidbey Island Bank, Coupeville, Washington, to assume all of the deposits of North County Bank.  http://www.fdic.gov/news/news/press/2010/pr10215.html

September 24, 2010 - First Southern Bank, Boca Raton, Florida, Assumes All of the Deposits of Haven Trust Bank Florida, Ponte Vedra Beach, Florida - Haven Trust Bank Florida, Ponte Vedra Beach, Florida, was closed today by the Florida Office of Financial Regulation, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with First Southern Bank, Boca Raton, Florida, to assume all of the deposits of Haven Trust Bank Florida. http://www.fdic.gov/news/news/press/2010/pr10214.html 

September 24, 2010 - Introducing the Midwest Economy Index - Chicago Fed Letter explains the methodology behind the new index of Seventh District economic activity. www.chicagofed.org/digital_assets/publications/chicago_fed_letter/2010/cflnovember2010_280.pdf 

September 24, 2010 - NCUA Unveils Corporate System Resolution Plan - “NCUA has a responsibility, first and foremost, to protect the interests of consumers.Our solution is predicated on this very principle.” www.ncua.gov/Resources/CorporateCU/CSRMain.aspx 

September 24, 2010 - NCUA Adopts Reforms for Corporate Credit Union System, Protects Consumers - Regulator Announces Plan to Address Impaired Assets, Conserves 3 Corporate Credit Unions, Preserves Stability in Credit Union Industry www.ncua.gov/news/press_releases/2010/MA10-0924NCUACorporateReforms.pdf 

September 24, 2010 - OCC and OTS Release Mortgage Metrics Report for Second Quarter of 2010 - The credit quality of first-lien mortgages serviced by the largest national banks and thrifts remained steady during the second quarter of 2010, according to a report released today.
Press Release: www.occ.treas.gov/ftp/release/2010-112.htm 
Press Release: www.ots.treas.gov/?p=PressReleases&ContentRecord_id=3fd09cd6-c521-3048-e804-c0db5c0adfce&ContentType_id=4c12f337-b5b6-4c87-b45c-838958422bf3

September 24, 2010 - St. Louis Fed Releases September/October Edition of Review - The September/October issue of Review, the Federal Reserve Bank of St. Louis’ bi-monthly journal of economic and business issues is now available.  www.stlouisfed.org/newsroom/displayNews.cfm?article=761 

September 24, 2010 - FDIC Makes Public August Enforcement Actions; No Administrative Hearings Scheduled for September 2010 - 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. www.fdic.gov/news/news/press/2010/pr10213.html 

September 24, 2010 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm 

September 24, 2010 - Chairman Ben S. Bernanke - Implications of the Financial Crisis for Economics - At the Conference Co-sponsored by the Center for Economic Policy Studies and the Bendheim Center for Finance, Princeton University, Princeton, New Jersey.   www.federalreserve.gov/newsevents/speech/bernanke20100924a.htm 

September 24, 2010 - Governor Elizabeth A. Duke - Opening Remarks - At the Public Hearing on the Home Mortgage Disclosure Act, Federal Reserve Board Building, Washington, D.C. www.federalreserve.gov/newsevents/speech/duke20100924a.htm 
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September 24, 2010 - Scott G. Alvarez, General Counsel - Incentive Compensation - Before the House Committee on Financial Services, Washington, D.C. www.federalreserve.gov/newsevents/testimony/alvarez20100924a.htm

September 23, 2010 - Leading Banking, Legal Experts To Speak at St. Louis Fed Reg Reform Event on Sept. 27 - A panel of leading banking, legal and regulatory experts will gather Monday, Sept. 27, at the Federal Reserve Bank of St. Louis for the second of the Bank’s lunchtime series on the implications of financial regulatory reform. www.stlouisfed.org/newsroom/displayNews.cfm?article=754

September 23, 2010 - The Federal Reserve Board on Thursday announced the issuance of a Prompt Corrective Action Directive with the consent of LandMark Bank of Florida, Sarasota, Florida, Florida, a state-chartered member bank. www.federalreserve.gov/newsevents/press/enforcement/20100923b.htm 

September 23, 2010 - The Federal Reserve Board on Thursday announced the execution of a Written Agreement by and among Miners and Merchants Bancorp, Inc., Grundy, Virginia, a registered bank holding company, TruPoint Bank, Grundy, Virginia, a state-chartered member bank, and the Federal Reserve Bank of Richmond. www.federalreserve.gov/newsevents/press/enforcement/20100923a.htm

September 22, 2010 - Introducing the Midwest Economy Index - Chicago Fed Letter explains the methodology behind the new index of Seventh District economic activity. www.chicagofed.org/digital_assets/publications/chicago_fed_letter/2010/cflnovember2010_280.pdf 

September 22, 2010 - FDIC to Hold Roundtable on Implementation of New Deposit Insurance Assessment Authority Provided in Dodd-Frank - As part of the implementation of the Dodd Frank Wall Street Reform and Consumer Protection Act, the Federal Deposit Insurance Corporation will host a second in a series of roundtable discussions with external parties.  www.fdic.gov/news/news/press/2010/pr10212.html 

September 22, 2010 - The Cross Section of Money Market Fund Risks and Financial Crises - Patrick E. McCabe - This paper examines the relationship between money market fund risks and outcomes during crises, with a focus on the ABCP crisis in 2007 and the run on money funds in 2008.  www.federalreserve.gov/pubs/feds/2010/201051/index.html 

September 22, 2010 - The Fragility of Discretionary Liquidity Provision--Lessons from the Collapse of the Auction Rate Securities Market - Song Han and Dan Li - We study the fragility of discretionary liquidity provision by major financial intermediaries during systemic events.  www.federalreserve.gov/pubs/feds/2010/201050/index.html 

September 22, 2010 - The Housing Crisis and State and Local Government Tax Revenue: Five Channels - Byron Lutz, Raven Molloy, and Hui Shan - State and local government tax revenues dropped steeply following the most severe housing market contraction since the Great Depression.  www.federalreserve.gov/pubs/feds/2010/201049/index.html 

September 22, 2010 - What Drives Movements in the Unemployment Rate? A Decomposition of the Beveridge Curve - Regis Barnichon and Andrew Figura - This paper presents a framework to interpret movements in the Beveridge curve and analyze unemployment fluctuations.  www.federalreserve.gov/pubs/feds/2010/201048/index.html 

September 22, 2010 - The Federal Reserve Board on Wednesday announced the execution of a Written Agreement by and between TIB Financial Corporation, Naples, Florida, a registered bank holding company, and the Federal Reserve Bank of Atlanta. www.federalreserve.gov/newsevents/press/enforcement/20100922b.htm 

September 22, 2010 - The Federal Reserve Board on Wednesday announced the execution of a Written Agreement by and among First State Bank of Warner, Warner, South Dakota, a state-chartered member bank, the Federal Reserve Bank of Minneapolis, and the State of South Dakota, Department of Revenue and Regulation, Division of Banking. www.federalreserve.gov/newsevents/press/enforcement/20100922a.htm 

September 21, 2010 - St. Louis Fed Memphis Branch to Host Discussion on Regulatory Reform - The Federal Reserve Bank of St. Louis—Memphis Branch will host a lunchtime discussion on the financial and economic implications of the Dodd-Frank Wall Street Reform and Consumer Protection Act. www.stlouisfed.org/newsroom/displayNews.cfm?article=759 

September 21, 2010 - Reverse Mortgage Products: Guidance for Managing Compliance and Reputation Risks - The Federal Reserve, along with other financial regulators of the Federal Financial Institutions Examination Council 1, adopted the attached guidance on Reverse Mortgage Products: Guidance for Managing Compliance and Reputation Risk 2. The guidance was developed to address the compliance and reputation risks associated with reverse mortgages in light of the anticipated growth in the market, as the U.S. population ages. www.federalreserve.gov/boarddocs/caletters/2010/1011/caltr1011.htm 

September 21, 2010 - Community Reinvestment Act - Audio and transcripts from the August 12, 2010 hearing now available. www.federalreserve.gov/communitydev/cra_agenda20100812.htm 

September 21, 2010 - Information received since the Federal Open Market Committee met in August indicates that the pace of recovery in output and employment has slowed in recent months. Household spending is increasing gradually, but remains constrained by high unemployment, modest income growth, lower housing wealth, and tight credit. www.federalreserve.gov/newsevents/press/monetary/20100921a.htm 

September 20, 2010 - Fiduciary Activities of National Banks: Self-Deposit of Fiduciary Funds, - Guidance for national banks or affiliates on self-deposits of fiduciary funds clarifies OCC expectations and highlights risks and need for such activities to meet fiduciary standards. www.occ.treas.gov/ftp/bulletin/2010-37.html 

September 20, 2010 - NCUA - 2010 Premium and Assessment Discussed by Board Member Hyland at NAFCU Congressional Caucus - Board Member Gigi Hyland spoke today before the NAFCU Congressional Caucus in Washington, DC. Her remarks focused on the 2010 Share Insurance Fund premium and Corporate Stabilization Fund assessment recently levied on federally insured credit unions.www.ncua.gov/news/press_releases/2010/MR10-0920HylandNAFCUCongrCaucus.pdf 

September 20, 2010 - Federal Financial Institution Regulators Announce Availability of 2009 Data on Mortgage Lending - The Federal Financial Institutions Examination Council today announced the availability of data on mortgage lending transactions at 8,124 U.S. financial institutions covered by the Home Mortgage Disclosure Act.
Press Release: www.fdic.gov/news/news/press/2010/pr10211.html 
Press Release: www.ffiec.gov/hmcrpr/hm092010.htm
Press Release: www.ncua.gov/news/press_releases/2010/JR10-0920FFIEC2009HMDA.pdf 

September 20, 2010 - Federal Reserve Bulletin - Legal Developments: Second Quarter, 2010 - Four orders were issued in this quarter, one for City Holding Company under Section 3 of the Bank Holding Company Act, one for Banco Popular de Puerto Rico under the Bank Merger Act, one for National Agricultural Cooperative Federation under the International Banking Act, and one Final Enforcement Decision for Antonio Garcia-Adanez. www.federalreserve.gov/pubs/bulletin/2010/pdf/legalq210.pdf 

September 20, 2010 - Regulatory Reform - Meetings and discussions with the public through September 13, 2010 - The Federal Reserve Board will be involved in many rulemakings to implement the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.   www.federalreserve.gov/newsevents/reform_meetings.htm 

September 20, 2010 - The 2009 HMDA Data: The Mortgage Market in a Time of Low Interest Rates and Economic Distress - Robert B. Avery, Neil Bhutta, Kenneth P. Brevoort, and Glenn B. Canner - The data that mortgage lending institutions reported for 2009 under the Home Mortgage Disclosure Act of 1975 reflect the ongoing difficulties in the housing and mortgage markets.  www.federalreserve.gov/pubs/bulletin/2010/pdf/hmda2009.pdf

September 20, 2010 - The Federal Reserve Board on Monday announced the execution of a Written Agreement by and between Trans Pacific Bancorp, San Francisco, California, a registered bank holding company, and the Federal Reserve Bank of San Francisco. www.federalreserve.gov/newsevents/press/enforcement/20100920a.htm

September 17, 2010 - North Shore Bank, FSB, Brookfield, Wisconsin, Assumes All of the Deposits of Maritime Savings Bank, West Allis, Wisconsin - Maritime Savings Bank, West Allis, Wisconsin, was closed today by Office of Thrift Supervision, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with North Shore Bank, FSB, Brookfield, Wisconsin, to assume all of the deposits of Maritime Savings Bank. www.fdic.gov/news/news/press/2010/pr10210.html 

September 17, 2010 - Foundation Bank, Cincinnati, Ohio, Assumes All of the Deposits of Bramble Savings Bank, Milford, Ohio - Bramble Savings Bank, Milford, Ohio, was closed today by the Ohio Division of Financial Institutions, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Foundation Bank, Cincinnati, Ohio, to assume all of the deposits of Bramble Savings Bank. www.fdic.gov/news/news/press/2010/pr10209.html 

September 17, 2010 - Community & Southern Bank, Carrollton, Georgia, Assumes All of the Deposits of Three Georgia Institutions - Bank of Ellijay, Ellijay, First Commerce Community Bank, Douglasville, and The Peoples Bank, Winder - Community & Southern Bank, Carrollton, Georgia, acquired the banking operations, including all the deposits, of three Georgia-based institutions. The Bank of Ellijay, Ellijay, First Commerce Community Bank, Douglasville, and The Peoples Bank, Winder, were closed by the Georgia Department of Banking and Finance, and the FDIC was named receiver for each institution. The failed institutions were not affiliated with one another. To protect depositors, the Federal Deposit Insurance Corporation entered into a purchase and assumption agreement with Community & Southern Bank. www.fdic.gov/news/news/press/2010/pr10208.html 

September 17, 2010 - NCUA Board Makes $250 K Insurance Permanent - Conforms Regulation on Coverage Limit, Sign Display - The National Credit Union AdministrationBoard voted to amend NCUA regulations to make permanent the $250,000 per account National Credit Union Share Insurance Fund (NCUSIF) coverage limit. www.ncua.gov/news/press_releases/2010/MR10-0917BoardMakes250KInsurancePermanent.pdf 

September 17, 2010 - 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/2010-111.htm 

September 17, 2010 - Regulatory Relief - Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Tennessee Affected by Severe Weather - The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Tennessee affected by severe storms and flooding. www.fdic.gov/news/news/financial/2010/fil10058.html

September 17, 2010 - New Century Bank, Phoenixville, Pennsylvania, Assumes All of the Deposits of ISN Bank, Cherry Hill, New Jersey - ISN Bank, Cherry Hill, New Jersey, was closed today by the New Jersey Department of Banking and Insurance, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with New Century Bank, Phoenixville, Pennsylvania, to assume all of the deposits of ISN Bank. www.fdic.gov/news/news/press/2010/pr10207.html 

September 17, 2010 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.  www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm 

September 17, 2010 - Statistical Release - Z.1 Flow of Funds.  www.federalreserve.gov/releases/z1/Current/

September 17, 2010 - Monthly Report on Credit and Liquidity Programs and the Balance Sheet The Federal Reserve prepares this monthly report as part of its efforts to enhance transparency about the range of programs and tools that have been implemented in response to the financial crisis and to ensure appropriate accountability to the Congress and the public.  www.federalreserve.gov/monetarypolicy/clbsreports.htm

September 17, 2010 - Governor Daniel K. Tarullo - Comments on "Regulating the Shadow Banking System" - At the Brookings Panel on Economic Activity, Washington, D.C. www.federalreserve.gov/newsevents/speech/tarullo20100917a.htm
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September 17, 2010 - OCC Enforcement Actions - The Office of the Comptroller of the Currency (OCC) today released new enforcement actions taken against national banks and individuals currently and formerly affiliated with national banks. http://www.occ.treas.gov/ftp/release/2010-111.htm

September 16, 2010 - Truth in Lending Act: Annual Dollar Trigger for Certain Home Mortgage Loan - The Federal Reserve Board has published a final rule for the dollar amount in 2011 that triggers provisions of the Home Ownership and Equity Protection Act. www.occ.treas.gov/ftp/bulletin/2010-36.html 

September 16, 2010 - Going Mobile: FRED Is on the Move - FRED® (Federal Reserve Economic Data) has gone mobile.  www.stlouisfed.org/newsroom/displayNews.cfm?article=755

September 16, 2010 - Financial Holding Companies - As of September 16, 2010 - 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. The list includes only the top-tier company in each organization. www.federalreserve.gov/generalinfo/fhc/

September 16, 2010 - The Federal Reserve Board on Thursday announced the agenda and panelists for the last of four public hearings this year on potential revisions to Regulation C, which implements the Home Mortgage Disclosure Act. www.federalreserve.gov/newsevents/press/bcreg/20100916a.htm

September 16, 2010 - The Federal Reserve Board on Thursday announced the execution of a Written Agreement by and among South Group Bancshares, Inc., Glennville, Georgia, a registered bank holding company, the Federal Reserve Bank of Atlanta, and the Banking Commissioner of the State of Georgia. www.federalreserve.gov/newsevents/press/enforcement/20100916b.htm

September 16, 2010 - NCUA Board Approves Payday Loan Alternative - Short-term loan program aims to help small-dollar borrowers - Providing consumers with an alternative toborrowing from potentially predatory payday lenders, the National Credit Union Administration today adopted a new rule – with a strong set of consumer safeguards – to allow federal credit unions to make short-term, small-amount loans and to extend lines of credit to their members. www.ncua.gov/news/press_releases/2010/MA10-0916MatzPaydayLoan.pdf 

September 16, 2010 - The Federal Reserve Board on Thursday announced the execution of a Written Agreement by and among State Bank Financial, La Crosse, Wisconsin, a state-chartered member bank, the Federal Reserve Bank of Minneapolis, and the State of Wisconsin Department of Financial Institutions. www.federalreserve.gov/newsevents/press/enforcement/20100916a.htm 

September 15, 2010 - OCC Releases CRA Evaluations For 15 National Banks - The Office of the Comptroller of the Currency today released a list of Community Reinvestment Act (CRA) performance evaluations that became public during the period of August 15, 2010 through September 14, 2010. www.occ.treas.gov/ftp/release/2010-110.htm 

September 15, 2010 - Chief Counsel Testifies on Covered Bonds - Chief Counsel Julie L. Williams discussed covered bonds in testimony before the Senate Committee on Banking, Housing, and Urban Affairs. www.occ.treas.gov/ftp/release/2010-109.htm 

September 15, 2010 - Regulatory Relief - Guidance to Help Financial Institutions and Facilitate Recovery in Areas of New Mexico Affected by Severe Weathe - The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of New Mexico affected by severe storms and flooding. www.fdic.gov/news/news/financial/2010/fil10057.html

September 15, 2010 - Guidance on Mitigating Risk Posed by Information Stored on Photocopiers, Fax Machines and Printers - The FDIC has issued the attached guidance, which describes the risk posed by sensitive information stored on certain electronic devices and how institutions should mitigate that risk. www.fdic.gov/news/news/financial/2010/fil10056.html 

September 15, 2010 - Interest on Required Reserve Balances and Excess Balances - Maintenance period ending September 15, 2010 - The Federal Reserve Banks pay interest on required reserve balances--balances held at Reserve Banks to satisfy reserve requirements--and on excess balances--balances held in excess of required reserve balances and contractual clearing balances. www.federalreserve.gov/monetarypolicy/reqresbalances.htm 

September 15, 2010 - Statistical Release - G.20 Finance Companies. www.federalreserve.gov/releases/g20/current/ 

September 15, 2010 - Statistical Release - G.17 Industrial Production - Industrial production rose 0.2 percent in August after a downwardly revised increase of 0.6 percent in July. www.federalreserve.gov/releases/g17/Current/default.htm

September 14, 2010 - Understanding New World Order of Private Equity - Chicago Fed Letter examines recent developments, trends in the private equity industry. - The Federal Reserve System’s Private Equity Merchant Banking Knowledge Center, formed at the Chicago Fed in 2000 after the passage of the Gramm–Leach–Bliley Act, sponsors an annual conference on new industry developments. www.chicagofed.org/digital_assets/publications/chicago_fed_letter/2010/cfloctober2010_279a.pdf 

September 14, 2010 - Senior Deputy Comptroller Speaks to Professional Accountants about Refocusing on Banking Fundamentals - Tim Long, Senior Deputy Comptroller for Bank Supervision Policy and Chief National Bank Examiner, spoke to the American Institute of Certified Public Accountants today about refocusing on fundamentals of sound banking. www.occ.treas.gov/ftp/release/2010-108.htm

September 14, 2010 - HMDA Hearing Audio Files - Audio and transcripts are now available for the July 15 and August 5 HMDA hearings. www.federalreserve.gov/communitydev/hmda_hearings.htm 

September 14, 2010 - The Federal Reserve Board on Tuesday announced the execution of a Written Agreement by and between First Security Group, Inc., Chattanooga, Tennessee, a registered bank holding company, and the Federal Reserve Bank of Atlanta. www.federalreserve.gov/newsevents/press/enforcement/20100914b.htm 

September 14, 2010 - The Federal Reserve Board on Tuesday announced the execution of a Written Agreement by and among Butte State Company, Butte, Nebraska, a registered bank holding company, Butte State Bank, Butte, Nebraska, a state-chartered member bank, the Federal Reserve Bank of Kansas City, and the Nebraska Department of Banking and Finance. www.federalreserve.gov/newsevents/press/enforcement/20100914a.htm 

September 13, 2010 - How Does the Dodd-Frank Act Affect Financial Market Utilities? - The act calls for enhanced supervision and regulation of systemically important financial market utilities, critical behind-the-scenes institutions and arrangements that ensure the smooth functioning of financial markets. www.chicagofed.org/digital_assets/publications/chicago_fed_letter/2010/cfloctober2010_279.pdf 

September 13, 2010 - Unauthorized Banking: Current List of OCC Alerts on Unauthorized Banking - List provides 1996-2010 information about unauthorized banking activities, both offshore and domestic. www.occ.treas.gov/ftp/alert/2010-12.html

September 13, 2010 - Capturing the Evolution of Dealer Credit Terms Related to Securities Financing and OTC Derivatives: Some Initial Results from the New Senior Credit Officer Opinion Survey On Dealer Financing Terms - Matthew J. Eichner and Fabio M. Natalucci - In the period prior to the financial crisis, leverage in the financial system increased substantially. www.federalreserve.gov/pubs/feds/2010/201047/index.html 

September 13, 2010 - An Analysis of Government Guarantees and the Functioning of Asset-Backed Securities Markets - Diana Hancock and Wayne Passmore - Mortgage securitization has been tried several times in the United States and each time it has failed amid a credit bust. www.federalreserve.gov/pubs/feds/2010/201046/index.html

September 13, 2010 - Statistical Release - Large Commercial Banks - The Federal Reserve Board compiles quarterly data on domestically chartered insured commercial banks that have consolidated assets of $300 million or more and releases the data about twelve weeks after the end of each quarter.  www.federalreserve.gov/releases/lbr/   

September 13, 2010 - Regulatory Reform - Meetings and discussions with the public through September 7, 2010 - The Federal Reserve Board will be involved in many rulemakings to implement the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. www.federalreserve.gov/newsevents/reform_meetings.htm 

September 12, 2010 - U.S. Banking Agencies Express Support for Basel Agreement - The U.S. federal banking agencies support the agreement reached at the September 12, 2010, meeting of the G-10 Governors and Heads of Supervision (GHOS).
Press Release: www.federalreserve.gov/newsevents/press/bcreg/20100912a.htm
Press Release: www.fdic.gov/news/news/press/2010/pr10206.html
Press Release: www.occ.treas.gov/ftp/release/2010-107.htm

September 10, 2010 - Bank of the Ozarks, Little Rock, Arkansas, Assumes All of the Deposits of Horizon Bank, Bradenton, Florida - Horizon Bank, Bradenton, Florida, was closed today by the Florida Office of Financial Regulation, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Bank of the Ozarks, Little Rock, Arkansas, to assume all of the deposits of Horizon Bank. www.fdic.gov/news/news/press/2010/pr10205.html 

September 10, 2010 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm 

September 9, 2010 - Real Estate Settlement Procedures Act: Updated Examination Procedures - Changes in the booklet include updates to the examination procedures, a standardized and binding Good Faith Estimate form and revised HUD-1 and HUD-1A Settlement Statements. www.occ.treas.gov/ftp/bulletin/2010-35.html 
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September 9, 2010 - Hearing on HMDA Potential Revisions - The Chicago Fed will be the site of a public hearing September 16 on potential revisions to Regulation C, which implements the Home Mortgage Disclosure Act.  www.federalreserve.gov/communitydev/hmda_hearings.htm 

September 9, 2010 - Legal Developments - Section 19 letters, May 17, 20, 21, 25, 27, and July 22, 2010 - Orders Issued under the Bank Merger Act, Federal Deposit Insurance Act, Federal Reserve Act, and International Banking Act, 2010.  www.federalreserve.gov/bankinforeg/legaldevelopments/ordersother2010.htm

September 9, 2010 - Legal Interpretations - Federal Reserve Act letter, September 3, 2010 - Letter to Phillip A. Wertz (Bank of America Corporation) for an exemption from section 23A of the Federal Reserve Act (12 U.S.C. 371c) and the Board's Regulation W (12 CFR Part 223) to allow Bank of America, National Association, to purchase certain credits from its affiliate, Merrill Lynch & Company, Inc., all of Charlotte, North Carolina. www.federalreserve.gov/boarddocs/legalint/FederalReserveAct/2010/20100903/20100903a.pdf

September 9, 2010 - The Federal Reserve Board on Thursday announced the agenda and panelists for the third of four public hearings this year on potential revisions to Regulation C, which implements the Home Mortgage Disclosure Act. The event will be held Thursday, September 16, at the Federal Reserve Bank of Chicago. Those who want to attend the hearing should register in advance online. www.federalreserve.gov/newsevents/press/bcreg/20100909a.htm

September 9, 2010 - The Federal Reserve Board on Thursday announced the execution of a Written Agreement by and among First Community Holding Company, Hammond, Louisiana, a registered bank holding company, the Federal Reserve Bank of Atlanta, and the Louisiana Office of Financial Institutions. www.federalreserve.gov/newsevents/press/enforcement/20100909a.htm 

September 9, 2010 - Agenda for the 09/16/2010 NCUA Board Meeting is available.  http://ncua.gov/GenInfo/BoardandAction/Calendars/board_calendar/ag10-0916.aspx 

September 8, 2010 - How Does the Dodd-Frank Act Affect Financial Market Utilities? - The act calls for enhanced supervision and regulation of systemically important financial market utilities, critical behind-the-scenes institutions and arrangements that ensure the smooth functioning of financial markets. www.chicagofed.org/digital_assets/publications/chicago_fed_letter/2010/cfloctober2010_279.pdf 

September 8, 2010 - Truth in Lending Act—Regulation Z: Updated Examination Procedures - Changes in the booklet reflect substantive changes to Regulation Z, the implementing regulation for the Truth in Lending Act. www.occ.treas.gov/ftp/bulletin/2010-34.html 

September 8, 2010 - Reports from the twelve Federal Reserve Districts suggested continued growth in national economic activity during the reporting period of mid-July through the end of August, but with widespread signs of a deceleration compared with preceding periods. Economic growth at a modest pace was the most common characterization of overall conditions, as provided by the five western Districts of St. Louis, Minneapolis, Kansas City, Dallas, and San Francisco. www.federalreserve.gov/fomc/beigebook/2010/20100908/default.htm

September 8, 2010 - FDIC Selects Mariner Real Estate Partners, LLC as Winning Bidder for Equity Interest in $762 Million in Residential and Commercial Acquisition and Development Loans - The Federal Deposit Insurance Corporation has closed on a sale of a 40 percent equity interest in a limited liability company (LLC) created to hold assets with an unpaid principal balance of approximately $762 million from 20 failed bank receiverships.  www.fdic.gov/news/news/press/2010/pr10204.html 

September 8, 2010 - Statistical Release - G.19 Consumer Credit In July, total consumer credit decreased at an annual rate of 1-3/4 percent. Revolving credit decreased at an annual rate of 6-1/4percent, and nonrevolving credit increased at an annual rate of 1/2 percent.   www.federalreserve.gov/releases/g19/current/g19.htm 

September 8, 2010 - Beige Book - Informal review by the Federal Reserve Banks of current economic conditions in their Districts.   www.federalreserve.gov/fomc/beigebook/2010/default.htm 

September 8, 2010 - Proposal to approve extension of, with revision, the Domestic Finance Company Report of Consolidated Assets and Liabilities Report; and the implementation of the Survey of Finance Companies Report.  www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm#icp

September 8, 2010 - The Federal Reserve Board on Wednesday announced that it has authorized ongoing small-value offerings of term deposits under the Term Deposit Facility.  www.federalreserve.gov/newsevents/press/monetary/20100908a.htm

September 7, 2010 - Stephen A. Lybarger Named Deputy Comptroller for Licensing - Stephen A. Lybarger has been named Deputy Comptroller for Licensing, succeeding Larry Beard, who plans to retire from the OCC on October 1, 2010. www.occ.treas.gov/ftp/release/2010-106.htm 

September 7, 2010 - Comptroller of the Currency Hosts Community Bank Directors Workshops in Dayton, Ohio - The Office of the Comptroller of the Currency will host workshops for directors of nationally chartered community banks in Dayton, Ohio, at the Doubletree Hotel and Suites, October 5-6, 2010. www.occ.treas.gov/ftp/release/2010-105.htm 

September 7, 2010 - Regulatory Reform - Meetings and discussions with the public through August 26, 2010 - The Federal Reserve Board will be involved in many rulemakings to implement the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.   www.federalreserve.gov/newsevents/reform_meetings.htm

September 7, 2010 - The Information Content of High-Frequency Data for Estimating Equity Return Models and Forecasting Risk -Dobrislav P. Dobrev and Pawel J. Szerszen.  www.federalreserve.gov/pubs/feds/2010/201045/index.html 

September 7, 2010 - The Federal Reserve Board on Tuesday announced the approval of an application by Banco Davivienda, S.A., Bogotá, Colombia, to establish a branch in Miami, Florida, through the conversion of its wholly owned subsidiary, Bancafé International, an Edge Act corporation. www.federalreserve.gov/newsevents/press/orders/20100907a.htm

September 7, 2010 - The Federal Reserve Board on Tuesday released the minutes of its discount rate meetings from July 6 through August 9, 2010.   www.federalreserve.gov/newsevents/press/monetary/20100907a.htm

September 7, 2010 - The Federal Reserve Board on Tuesday announced the execution of a Written Agreement by and among Bank of the Eastern Shore, Cambridge, Maryland, a state-chartered member bank, the Federal Reserve Bank of Richmond, and the State of Maryland Commissioner of Financial Regulation. www.federalreserve.gov/newsevents/press/enforcement/20100907c.htm 

September 7, 2010 - The Federal Reserve Board on Tuesday announced the execution of a Written Agreement by and between Mountain West Financial Corp., Helena, Montana, a registered bank holding company, and the Federal Reserve Bank of Minneapolis. www.federalreserve.gov/newsevents/press/enforcement/20100907b.htm 

September 7, 2010 - The Federal Reserve Board on Tuesday announced the execution of a Written Agreement by and among Pacific Mercantile Bancorp, Costa Mesa, California, a registered bank holding company, and its subsidiary bank, Pacific Mercantile Bank, Costa Mesa, California, a state-chartered member bank, and the Federal Reserve Bank of San Francisco. www.federalreserve.gov/newsevents/press/enforcement/20100907a.htm

September 3, 2010 - St. Louis Fed Hosts “A Discussion on Regulatory Reform” - On Aug. 30, the Federal Reserve Bank of St. Louis kicked off a new series of discussions focused on the financial and economic implications of the Wall Street Reform and Consumer Protection Act. www.stlouisfed.org/newsroom/displayNews.cfm?article=750

September 3, 2010 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm 

September 3, 2010 - Proposal for Comment - Information Collection Proposal 201013 to revise certain approved agency collections of information www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm#icp
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September 2, 2010 - OCC Allows National Bank Offices Affected by Hurricane Earl to Close - The Office of the Comptroller of the Currency today issued a proclamation allowing national bank offices affected by Hurricane Earl to close at their discretion. www.occ.treas.gov/ftp/release/2010-104.htm 

September 2, 2010 - OCC Survey Finds Bank Underwriting Standards Remain Tight - The Office of the Comptroller of the Currency released today its 16th annual Survey of Credit Underwriting Practices and reported that the trend of tightening underwriting standards has continued for the last three years. However, the OCC is beginning to see some easing of standards in response to competition, and a slight improvement in credit market liquidity. www.occ.treas.gov/ftp/release/2010-103.htm 

September 2, 2010 - Deposit Insurance Coverage - Free Nationwide Seminars for Bank Officers and Employees - The FDIC will host six telephone seminars on deposit insurance coverage for bank representatives between September 23 and November 2, 2010.  www.fdic.gov/news/news/financial/2010/fil10055.html 

September 2, 2010 - FDIC Extends Application Period for Safe Account Pilot - The Federal Deposit Insurance Corporation extended for 30 days the application period for a pilot program to evaluate the feasibility of insured depository institutions offering safe, low-cost transactional and savings accounts that meet the needs of underserved consumers. www.fdic.gov/news/news/press/2010/pr10203.html 

September 2, 2010 - FDIC Issues List of Banks Examined for CRA Compliance - The Federal Deposit Insurance Corporation today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act. The list covers evaluation ratings that the FDIC assigned to institutions in June 2010. www.fdic.gov/news/news/press/2010/pr10202.html

September 2, 2010 - Commercial Paper Funding Facility LLC - Financial statements as of May 31, 2010 and for the period January 1, 2010, through May 31, 2010, and as of and for the year ended December 31, 2009.  www.federalreserve.gov/monetarypolicy/bst_fedfinancials.htm 

September 2, 2010 - Regulatory Reform - About regulatory reform and meetings and discussions with the public - On July 21, 2010, President Obama signed into law the Wall Street Reform and Consumer Protection Act of 2010. This historic financial reform legislation will play a crucial role in preventing future crisis, helping families save for the future, and growing our economy. www.federalreserve.gov/newsevents/reform_about.htm 

September 2, 2010 - Chairman Ben S. Bernanke - Causes of the Recent Financial and Economic Crisis - Before the Financial Crisis Inquiry Commission, Washington, D.C. www.federalreserve.gov/newsevents/testimony/bernanke20100902a.htm 

September 2, 2010 - The Federal Reserve Board on Thursday announced its approval of the applications under the Bank Merger Act and the Federal Reserve Act by Metcalf Bank, Lee's Summit, Missouri, to acquire certain assets and assume certain liabilities of four branches of The First National Bank of Olathe, Olathe, Kansas, and to establish and operate branches at those locations. www.federalreserve.gov/newsevents/press/orders/20100902a.htm 

September 2, 2010 - The Federal Reserve Board on Thursday announced the execution of a Written Agreement by and between First National Bancorporation of Stoughton, Inc., Stoughton, Wisconsin, a registered bank holding company, and the Federal Reserve Bank of Chicago. www.federalreserve.gov/newsevents/press/enforcement/20100902c.htm 

September 2, 2010 - The Federal Reserve Board on Thursday announced the execution of a Written Agreement by and among Oregon Community Bank & Trust, Oregon, Wisconsin , a state-chartered member bank, the Federal Reserve Bank of Chicago, and the State of Wisconsin Department of Financial Institutions. www.federalreserve.gov/newsevents/press/enforcement/20100902b.htm 

September 2, 2010 - The Federal Reserve Board on Thursday announced the execution of a Written Agreement by and between Osceola Bancorporation, Inc., Osceola, Wisconsin, a registered bank holding company, and the Federal Reserve Bank of Minneapolis. www.federalreserve.gov/newsevents/press/enforcement/20100902a.htm 

September 1, 2010 - NCUA - First American Credit Union Closes; - Members Now Served by First Community Federal Credit Union Service to Members Continues Uninterrupted; Deposits Federally Insured to $250,000 - The National Credit Union Administration was appointed liquidating agent of First American Credit Union of Beloit, Wisconsin by the Wisconsin Office of Credit Unions on August 31, 2010.  www.ncua.gov/news/press_releases/2010/MR10-0901FirstAmericanCUCloses.pdf

September 1, 2010 - OCC Issues Fourth Quarter 2010 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 2010. www.occ.treas.gov/ftp/release/2010-102.htm

September 1, 2010 - St. Louis Fed Conference Explores Achievement Gap and Community Leadership - The nation’s achievement gap can be best described as an achievement “gulf,” according to Dr. Donna Ford, a professor of Education and Human Development at Vanderbilt University in Nashville, Tenn.  www.stlouisfed.org/newsroom/displayNews.cfm?article=748 

September 1, 2010 - Conference Publication - REO and Vacant Properties: Strategies for Neighborhood Stabilization.   www.federalreserve.gov/events/conferences/2010/reovpsns/publication.htm 

September 1, 2010 - Governor Elizabeth A. Duke - Stabilizing Neighborhoods: Lessons Learned from the Field - At the Federal Reserve REO and Vacant Properties Summit, Washington, D.C. www.federalreserve.gov/newsevents/speech/duke20100901a.htm

September 1, 2010 - Scott G. Alvarez, General Counsel - The Acquisition of Wachovia Corporation by Wells Fargo & Company - Before the Financial Crisis Inquiry Commission, Washington, D.C. www.federalreserve.gov/newsevents/testimony/alvarez20100901a.htm