All Banker Tools

Top Stories for December 2004

MSB Registration List Updated

FinCEN has released an updated list of the entities that have registered as an MSB from December 2001 to December 2004. MSB Registration nbsp; 1/04/05
MSB Registration List

FinCEN published the MSB Registration List. This is a list of entities that have registered as Money Services Businesses (MSBs), from December 2001 through December 2004. There are 22,347 entries.
MSB List Release 12/29/04
Credit Scoring Working Paper Published

The OCC has published a working paper entitled; "Specification and Informational Issues in Credit Scoring," that explores the possibility that estimates generated by models developed with data drawn solely from extended loans are less valuable than they should be because of selectivity bias.
Credit Scoring 12/28/04
FDIC To Hold Minority Bankers Roundtables

The FDIC has announced the creation of a series of roundtables for minority bankers to improve communication by providing forums for the FDIC to hear the MDI community's views on regulatory and supervisory issues.
Roundtables 12/28/04
Proper Disposal of Consumer Information Under FACTA

The Federal Reserve published in today's Federal Register the final rule concerning the proper disposal of consumer information under FACTA. These also impact Regs H, K, and Y. This was previously reported in the agencies news release in the 12-22-04 Top Story.
69FR77610 (txt)
69FR77610 (pdf) 12/28/04
Auditor Of Failed Bank To Pay $125 Million

OTS and the FDIC have announced that settlements have been reached that resolve the regulators’ charges against Ernst & Young LLP, the former independent auditor of Superior Bank, FSB, Hinsdale, IL. Under the terms of a Consent Order, the auditor agreed to adopt and implement specific internal controls and policies concerning its audits of federally-insured savings associations; provide periodic reports concerning such audits to the OTS; and pay $85,000,000 which will be transferred to the FDIC as receiver for Superior Bank. Under the terms a separate settlement with the FDIC, Ernst & Young will pay the FDIC an additional $40 million in restitution.
OTS Consent Order;
FDIC Press Release 12/27/04
Five SDGTs Removed From SDN List

OFAC has removed five individuals designated as SDGTs from the SDN list. Information regarding the individuals that were removed has been posted on the BOL OFAC page. Information concerning the changes was posted December 23, 2004 on the BOL OFAC page. 12/27/04
FFIEC Posts Country Exposure Forms Online

The FFIEC has posted the December 2004 009 and 009a Country Exposure forms on its Web site.
009;
009a 12/27/04
Reg. C, HMDA Final Rule

The Federal Reserve published in today's Federal Register the final rule amending the Reg. C commentary to increase the asset-size exemption based on the CPI. (This was previously reported in the 12-22-04 Top Story.)
69FR77139 (txt)
69FR77139(pdf)
12/27/04
Retail Lending Examination Procedures Issued By OCC

The OCC has issued a Bulletin regarding the Retail Lending Examination Procedures that address the various risk management and control functions that banks need to manage more diverse and complex portfolios and provide targeted procedures for specific credit functions and types of retail loans.
Bulletin;
Procedures 12/23/04
Special Alerts Issued Regarding Counterfeit Cashier’s Checks and Money Orders

The FDIC has issued two Special Alerts regarding counterfeit cashier’s checks bearing the name of Comerica Bank, Detroit, Michigan; and counterfeit cashier’s checks and money orders bearing the routing number of The Provident Bank, Jersey City, New Jersey. Information regarding the counterfeit cashier’s checks and money orders have been posted on the BOL Alerts & Counterfeits page. 12/23/04
Edward Jones Settles For $75 Million

The SEC has announced enforcement proceedings against Edward D. Jones & Co., L.P., related to allegations that the firm failed to adequately disclose revenue sharing payments that it received from a select group of mutual fund families that were recommended to its customers. Edward Jones will pay $75 million in disgorgement and civil penalties which will be distribution its customers.
Settlement 12/23/04
California Trust Company Issued C&D

The FDIC has issued a Special Alert regarding a California trust company has been issued a cease and desist letter by the State of California. The entity may be conducting unauthorized banking services and is not insured by the FDIC.
Special Alert 12/23/04
Implementation of Schedule RED Postponed By OTS

OTS has postponed the March 31, 2005 implementation of Schedule RED.
Schedule RED 12/23/04
Third Quarter Survey Of Terms Of Business Lending Released

The E.2 Survey of Terms of Business Lending for the Third Quarter 2004 has been released by the FRB. The data is collected during the middle month of each quarter and released in the middle of the succeeding month.
E.2 12/23/04
Learn About FRB’s Cash Services Online

FRB Financial Services has posted information on its Web site regarding its new Cash Services.
Cash Services 12/23/04
FRB Revises IP Index

The FRB has revised the G.17 index of industrial production and the related measures of capacity and capacity utilization for the period from January 1972 to November 2004.
IP Revision 12/23/04
OFAC Blocked Account SAR Filing Guidance Published in FR

The interpretive guidance clarifies that reports filed with OFAC of blocked transactions with SDGT, SDT, Foreign Terrorist
Organizations, Specially Designated Narcotics Trafficker Kingpins, and Specially Designated Narcotics Traffickers will be deemed by FinCEN to fulfill the requirement to file suspicious activity reports on such transactions for purposes of FinCEN's suspicious activity reporting rules. 69FR76847 (txt) 69FR76847 (pdf) 12/23/04
FTC Notice on FCRA Disclosure Fees

The FTC announces that the ceiling on allowable charges under section 612(f) of the Fair Credit Reporting Act (‘‘FCRA’’) will increase from $9.00 to $9.50 on January 1, 2005. 69FR76767 (txt) 69FR76767 (pdf) 12/22/04
Agencies Announce Final Rule On Disposal Of Consumer Information

The federal bank and thrift regulatory agencies have announced an interagency final rule implementing section 216 of the FACT Act which requires financial institutions to adopt measures for properly disposing of consumer information derived from credit reports.
Final Rule;
FRB PR;
OCC NR;
OTS NR;
FDIC PR 12/22/04
HMDA Data Collection Asset-Size Exemption Threshold Increased

The FRB has announced an increase in the HMDA data collection asset-size exemption threshold for depository institutions.
Threshold 12/22/04
OFAC Adds al Qaida Associates

Two individuals with ties to al Qaida have been designated SDGTs by Treasury and added to the OFAC SDN list. Information regarding the new additions has been posted on the BOL OFAC page.
12/22/04
FDIC Follows SEC Lead Regarding Deadline Extension

The FDIC has issued a FIL announcing that the agency is following the lead of the SEC and extending the filing date for certain internal control reports.
FIL 12/22/04
International Reserve Position Update

Treasury updated the U.S. International Reserve Position for the week ending December 17, 2004.
Reserve Position 12/22/04
September 2004 Structure And Share Data Report Released

The Structure and Share Data for Offices of U.S. Offices of Foreign Banks report for September 2004 has been released by the FRB.
Report 12/22/04
G.20 Finance Companies Receivables Report Issued

The FRB has issued the G.20 Finance Companies Owned and Managed Receivables report for October 2004.
G.20 12/22/04
Inflation Forecast Working Paper Published

A working paper in the FEDS series entitled, “The Reliability of Inflation Forecasts Based on Output Gap Estimates in Real Time”, has been published by the FRB.
Working Paper 12/22/04
Derivatives Volume Tops $84 Trillion

The OCC has published the Third Quarter 2004 Bank Derivatives Report which reports that derivatives held by U. S. commercial banks increased $3.2 trillion in the third quarter to $84 trillion.
Derivatives Report 12/22/04
OCC Issues Supplemental ACH Guidance

A Bulletin has been issued by the OCC regarding three previously announced amendments to NACHA Operating Rules that became effective in 2004. The bulletin
supplements guidance on ACH activities outlined in the FFIEC IT Handbook, "Retail Payment Systems," which was released in March 2004.
Bulletin; IT Handbook 12/21/04
SDN Changes Subject Of FIL

The FDIC has issued a FIL regarding previously announced changes made by OFAC to the SDN list. Information concerning the changes was posted December 16, 2004 on the BOL OFAC page.
FIL 12/21/04
FDICconnect Expansion Announced

The FDIC has announced the inclusion of seven new business transactions on FDICconnect. The new items include: the expansion of electronic application filings with participating State Banking Departments, additional online applications, distribution of Special Alerts, the ability to exchange information between the FDIC and institutions during the examination process, and the ability to exchange files with the FDIC's Consumer Response Center on consumer complaint investigations.
FIL;
Transaction List 12/21/04
SDN List Changes

OFAC has added an individual and changed an existing listing on the SDN List. The new information has been posted on the BOL OFAC page. 12/20/04
Preliminary Annual Report on U.S. Holdings Of Foreign Securities Released

Preliminary data from an annual survey of U.S. portfolio holdings of foreign securities at year-end 2003 has been released by Treasury. Foreign Holdings 12/20/04
First Quarter 2004 Issue Of Quarterly Journal Now Online

The OCC has posted the First Quarter 2004 issue of the Quarterly Journal on its Web site. The issue continues the tradition of reporting on the condition of commercial banks, as well as recent licensing decision, speeches and testimony, interpretive letters, mergers, and financial performance data for national banks.
Quarterly Journal 12/20/04
Balkan Individuals And Entities Added To OFAC List

Treasury has added six individuals and three entities to the SDN List for obstructing the implementation of the Dayton Peace Accords in Bosnia through the continued protection and material support of Persons Indicted for War Crimes by the International Criminal Tribunal for the former Yugoslavia (ICTY) and through organized criminal activity. Information regarding the additions has been posted on the BOL OFAC page. 12/17/04
Shared National Credits Data Collection Changes Proposed

The federal banking and thrift regulatory agencies have requested public comment on proposed changes to the data collection process that supports the Shared National Credit review of large syndicated loans.
Interagency Notice;
FRB PR;
OCC NR;
OTS PR;
FDIC PR 12/17/04
Thirty-Six CRA Evaluations Announced

The OCC has announced the CRA evaluations of thirty-six national banks that were examined for compliance during the period of November 15, 2004 through December 14, 2004.
CRA Evaluations 12/17/04
December 2004 Electronic Interpretations and Actions Posted Online

The December 2004 issue of Electronic Interpretations and Actions has been posted on the OCC Web site.
Interpretations and Actions 12/17/04
HOEPA January 2005 Reference Rates

The Federal Reserve has posted the new reference rates which lenders must use to determine if loans for which applications are received in January 2005 will be subject to HOEPA under the APR trigger test. Use the daily or weekly FRB H.15 to find applicable release which lists the Treasury Security with the same maturity term as your loan. To make the calculation, you use the yield in effect on the 15th of the month prior to the month you received the application.
Daily H.15;
Weekly H.15 12/17/04
Winter Issue Supervisory Insights Published

The Winter 2004 issue of Supervisory Insights has been published by the FDIC and features articles on the following topics: "Linking International Remittance Flows to Financial Services: Tapping the Latino Immigrant Market" and "Economic Capital and the Assessment of Capital Adequacy".
Supervisory Insights
12/17/04
Counterfeit Checks And Money Orders Special Alerts Issued

Three Special Alerts have been issued by the FDIC regarding counterfeit cashier’s checks drawn on Orange Savings Bank, ssb, Orange, Texas; counterfeit official checks drawn on Main Street Bank, Covington, Georgia; and counterfeit bank money orders bearing the name of Southern Missouri Bank & Trust Co., Poplar Bluff, Missouri. Information regarding the counterfeit checks and money orders ahs been posted on the BOL Alerts & Counterfeits page.
12/17/04
NCUA Liquidates CU

NCUA has placed the Midwood Federal Credit Union of Brooklyn, New York, into liquidation. Member funds are insured and will be released within five days.
Midwood Federal 12/17/04
OFAC Blocked Account SAR Filing Guidance Issued

FinCEN has issued a Guidance regarding the filing of an SAR upon the discovery of an OFAC blocked account.
Guidance 12/16/04
December 2004 Call Report Subject Of FIL

The FFIEC has issued a FIL which contains sample forms and supplemental instructions regarding the Call Report for the Fourth Quarter 2004.
FIL;
Instructions;
031 Form;
041 Form 12/16/04
OCC Enforcement Actions Announced

The OCC has announced six new enforcement actions taken against national banks and individuals currently and formerly affiliated with national banks and one termination of an existing enforcement action.
Enforcement Actions 12/16/04
First Quarter 2004 CRA Exam Schedule Released

OTS has announced that 31 savings associations are scheduled for CRA examinations during the First Quarter of 2005.
CRA Exams 12/16/04
NCUA Issues Prohibition Orders

Three Prohibition Orders have been issued by NCUA against former credit union officers and employees.
Orders 12/16/04
Interest Rate Risk Exposure Report Issued

OTS has issued the Interest Rate Risk Exposure Report for the Third Quarter 2004.
Interest Rate Risk Report 12/16/04
FRB Publishes Holiday List

The list of holidays and the dates observed by the FRB in 2005-2009 has been published.
Holidays 12/16/04
October TIC Data Released

Treasury has released the TIC data for October 2004.
TIC 12/16/04
Foreign Bank Subsidiaries Authorized To Manage Trust Investments In U.S. Real Estate

The FRB has issued a legal interpretation which clarifies the fiduciary exemptions in Reg K and Reg Y. The opinion permits two asset management subsidiaries of a foreign bank to sponsor and manage foreign-based investment trusts that invest in U.S. real estate. Legal Interpretation
12/15/04
FDIC ID Theft Study Results Released

The FDIC has issued a FIL which announces the results of its “Putting An End To Account-Hijacking Identity Theft” study and is requesting comments. The study regarded the unauthorized access to financial institution accounts and the ways the risks can be mitigated.
FIL;
Study 12/15/04
FRB Raises Rates

The FOMC has raised the fed funds rate and the Board of Governors has raised the discount rate by twenty-five basis points each.
Rates 12/15/04
International Reserve Position Updated

Treasury has released the U.S. International Reserve Position for the week ending December 10, 2004.
Reserve Position 12/15/04
G.17 Report Released

The FRB has released the G.17 Industrial Production and Capacity Utilization report for November 2004.
G.17 http://www.federalreserve.gov/Releases/G17/Current/default.htm
Study 12/15/04
AML Program Requirements Guidance from FinCEN Published in FR

This Interpretive Release sets forth an interpretation of the regulation requiring Money Services Businesses that are required to
register with FinCEN to establish and maintain anti-money laundering programs. 69FR74439 (pdf) 69FR74439 (txt) 12/14/04
October FDIC Enforcement Actions Announced

The FDIC has announced that twenty-seven enforcement actions were taken in October 2004 against banks and individuals. The actions included four cease and desist orders, seven removal and prohibition orders, eight civil money penalty orders, one termination of insurance order, and seven orders terminating orders to cease and desist.
Enforcement Actions 12/14/04
Unauthorized Internet Banking Special Alert

The FDIC has issued a Special Alert regarding Atlantic Standard Chartered Bank & Trust, N.A. who is offering a full range of deposit and banking services via the Internet. The entity is not chartered by the OCC and its products or services are not insured by the FDIC. Special Alert 12/14/04
Special Alert Regarding Missing Cashier’s Checks

A Special Alert has been issued by the FDIC regarding cashier’s checks that are missing from and drawn on Community Trust Bank, Inc., Pikeville, Kentucky. Information regarding the missing cashier’s checks has been posted on the BOL Alerts & Counterfeits page. 12/14/04
FIL Issued Regarding FACT Act Effective Dates

The FDIC has issued a FIL regarding the previously released Interagency Letter to the ABA and other trade associations responding to questions as to the effective dates of various provisions of the FACT Act. The Letter and other information regarding the FACT Act was the subject of December 1, 2004 BOL Special Banker Briefing.
FIL 12/14/04
Final Third Quarter Interest Rate Measures Report Released

The Economic Analysis Division of OTS has released the Final Third Quarter 2004 Thrift Industry Interest Rate Measures Report.
Final Report 12/14/04
Money Smart CBI Version Now Available

A FIL has been issued by the FDIC announcing that a CBI version of its Money Smart program in English and Spanish is available on CD-ROM and accessible online. Money Smart FIL 12/14/04
HMDA Disclosure Tables Revised

The FRB has announced changes to the tables used to publicly release data collected by lenders under HMDA. The formats for some of the existing disclosure tables have been revised, one set of existing tables has been deleted, and new tables have been added.
Changes;
HMDA Tables 12/13/04
Thrift Assessments And Fees Adjusted

OTS has published the semiannual adjustments for inflation of thrift assessments and fees.
Adjustments 12/13/04
FinCEN 314a Fact Sheet Updated

FinCEN has updated the 314a Fact Sheet to included data collected as of December 7, 2004.
314a Fact Sheet 12/13/04
The FDIC has issued three Special Alerts

, two of which regard counterfeit cashier’s checks drawn on United Bank, Fairfax, Virginia and Bank North, Crivitz, Wisconsin, and the other concerning counterfeit bank money orders drawn on Allegiance Community Bank, South Orange, New Jersey. Information regarding the counterfeit items has been posted on the BOL Alerts & Counterfeits page. 12/10/04
FinCEN Issues AML Program Requirements Guidance

FinCEN has issued a Guidance to MSBs on AML Program Requirements for dealing with foreign agents and foreign counterparts. AML Guidance 12/10/04
Flow Of Funds And Household Debt Reports Issued

The FRB has issued the Z.1 Flow of Funds and Household Debt Service Burden statistical releases for the Third Quarter 2004. Z.1 Household Debt 12/10/04
Autumn 2004 Issue FR Bulletin Published

The Autumn 2004 issue of the FR Bulletin has been posted online and contains the following articles: Federal Reserve Banks as Fiscal Agents and Depositories of the United States in a Changing Financial Environment; Federal Reserve Personal Financial Education Initiatives; and Report of the Conditions of the U.S. Banking Industry: Second Quarter, 2004. Autumn FR Bulletin 12/10/04
Cuban Travel Agency Added To SDN List

OFAC has added to its SDN list a Cuban travel agency that facilitates the evasion of U.S. sanction policy. Information regarding the addition has been posted on the BOL OFAC page. 12/09/04
Opt Out Report Submitted To Congress

The FRB has submitted a report to Congress regarding the results of a study of unsolicited written offers of credit and insurance that have been made to consumers. The report, which is required by the FACT Act, addresses five issues regarding the ability of consumers to “opt out”.
Report 12/09/04
NCUA Announces Free PALS Workshop

A free Partnering and Leadership Successes (PALS) workshop will be held by NCUA in Orlando, Florida, on Feb. 8, 2005. The agenda will focus on reaching new members outside the workplace, targeting all demographics, expanding into new markets, and building partnerships. PALS 12/09/04
Federal Reserve Proposed Rule for Truth in Lending - Reg Z:

Open-end (revolving) credit rules, disclosures and protection. PR, TXT, in FR 12/08/04
Regulators Issue BOLI Guidance

The FRB, OCC, FDIC and OTS have issued an Interagency Statement which discusses the safety and soundness and risk management implications of purchases and holdings of life insurance by financial institutions.
Interagency Statement;
FRB SR; OCC Bulletin; FDIC FIL 12/08/04
Critical Financial Infrastructure Protection Report Released

Treasury has released the results of a Critical Financial Infrastructure Protection Study which provide a model for the nation's regional financial centers to protect and strengthen their critical financial services infrastructure at the local level. Study 12/08/04
OCC Offers Consumers Holiday Tips On Utilization Of Gift Cards

The OCC has issued a consumer advisory which contains important information that holiday shoppers should have about the terms and conditions that apply to gift cards. Tips 12/08/04
International Reserve Position Updated

The U. S. International Reserve Position for the week ending December 3, 2004 has been issued by Treasury.
International Reserve Position 12/08/04
October Consumer Credit Report Released

The G.19 Consumer Credit Report for October 2004 has been released by the FRB. G.19 12/08/04
Comments Sought On Proposal To Continue Utilization Of Certain Forms

The FRB is seeking comments on a proposal to approve the extension for three years, without revision, the utilization of the FR G-1, FR G-2, FR G-4, FR T-4, and FR U-1 report forms. Proposal 12/08/04
FR-CA CPS Amended

The FRB has announced that in order to support new Check 21 related services requiring special connectivity features, the FR-CA CPS will be amended effective December 15, 2004. CPS 12/08/04
Counterfeit Cashier’s Check Special Alert

A Special Alert had been issued by the FDIC regarding counterfeit cashier’s checks drawn on City National Bank of Florida, Miami, Florida. Information concerning the counterfeit cashier’s checks has been posted on the BOL Alerts & Counterfeits page. 12/07/04
CRA Ratings Announced

The FDIC has announced the ratings received by state nonmember banks evaluated in September 2004 for CRA compliance. CRA 12/07/04
E-Payments Exceed Checks

The FRB has announced that the results of the 2004 Federal Reserve Payments Study indicate that electronic payments in the United States have exceeded payments by check for the first time.
Summary;
Study 12/07/04
FRB Issues SL Regarding FOSS

The FRB has issued a SL regarding the previously announced FFIEC Guidance on the use of Free and Open Source Software. Information concerning the Guidance was posted in the October 22, 2004 BOL Top Stories. SL; Guidance 12/07/04
December Financial Holding Companies List Released

The FRB has released the list as of December 3, 2004 of BHCs that have elected to be treated as a financial holding company.
List 12/07/04
BHC Rating System Revision SL Issued

A SL has been issued by the FRB concerning the previously announced revision by the FRB of the regulator’s rating system for BHCs. Information regarding the revision was posted in the December 2, 2004 BOL Top Stories. SL; Revision 12/07/04
Acting Comptroller Williams Addresses CFO Roundtable

Acting OCC Comptroller Williams noted the banking industry in excellent health, but warned against complacency in a presentation before BAI’s “Roundtable for CFOs” in New York City. Speech 12/06/04
Reg Z ANPR Issued

The FRB has issued an ANPR and request for comments regarding its review of Reg Z’s open-ending credit rules concerning the format of disclosures, the content of disclosures, and the substantive protections provided under the Reg. ANPR 12/06/04
OCC Working Paper Examines Post-Preemption Announcement Effects

A working paper has been published by the OCC that offers empirical evidence on how preemption affects national banks' performance. The study finds that preemption benefits are larger for smaller, multistate national bank holding companies than they are for larger national bank companies or similarly sized companies operating in one state. Working Paper Abstract; Full Paper 12/06/04
OFAC Cites Bahaman Bank

Only one bank was listed on the December 3, 2004 OFAC CMP list and it is located in the Bahamas.
OFAC CMP List 12/06/04
Fall 2004 Issue FDIC Consumer News Now Online

The Fall 2004 issue of FDIC Consumer News has been published and posted on the FDIC Web site. Featured articles include: Strategies and Help for Fighting ID Theft; New Consumer Rights to Their Credit Records; The Basics of Deposit Insurance for Businesses; and New Financial Education from the FDIC.
FDIC Consumer News 12/06/04
Treasury Delivers International Economic Report To Congress

As required by federal law, Treasury has delivered to Congress a report which reviews its policies regarding international economics and exchange rates for the first half of 2004. Economic Report 12/06/04
FFIEC Issues Additional Guidance on HMDA Reporting

The FFIEC has issued additional guidance to ensure that data in the following areas is reported accurately: transition rules; ethnicity, race, and sex (government monitoring information); property location information on refinancings and preapprovals; lien status reporting; loans subject to HOEPA; and reporting the sale of home purchase loans. Guidance 12/03/04
Enforcement Actions Announced Against Affiliated Parties

The FRB has announced the issuance of a C & D Order against a former institution-affiliated party and the execution of Written Agreements with two additional institution-affiliated parties relating to a commitment made in connection with an application involving Kenco Bancshares, Inc., Jayton, Texas. C & D; Written Agreement 1; Written Agreement 2 12/03/04
Sample Board Resolutions For Fed Reserve Account Holders

FRB Financial Services has posted online a sample of the board resolutions that are required of all Federal Reserve account holders and FedLine Advantage early adopters. Sample Resolutions 12/03/04
OCC First Quarter 2005 CRA Exam Schedule Released

The OCC has released the schedule for national banks that will be examined for CRA compliance during the first quarter 2005. CRA Exam Schedule 12/03/04
OTS Announces CRA Evaluations

OTS has announced the CRA performance evaluations for saving associations which became publicly available during November 2004. CRA Ratings 12/03/04
Bulletin Issued Regarding Annual Operating Subsidiaries Report Final Rule

The OCC has issued a Bulletin regarding the previous announced Final Rule concerning the Annual Report on Operating Subsidiaries. Information regarding the Final Rule was posted in the November 5, 2004 BOL Top Stories. Bulletin 12/03/04
Two FEDS Working Papers Published

The FRB has published two working papers in the FEDS series entitled: Measuring Capital and Technology: An Expanded Framework; and Do Actions Speak Louder Than Words? The Response of Asset Prices to Monetary Policy Actions and Statements. Measuring Capital; Do Actions Speak 12/03/04
FDIC Outlook Winter 2004 Issue Published

Consumer spending in 2005 will be much more dependent on the growth of jobs and incomes than has been the case in recent years, according to the Winter 2004 issue of the FDIC Outlook. Other articles in the report cover trends in housing markets, risks facing home equity and auto lenders, and the growing Hispanic market for banking services. FDIC Outlook 12/03/04
September UBPR Available Online

The September 30, 2004 Uniform Bank Performance Report (UBPR) is now available on line and contains 5 years of continuous financial history that is restated quarterly to reflect call report amendments. Sept UBPR 12/03/04
HUD HMDA Data Collection Transferred To FRB

HUD and the FRB have reached an agreement to transfer the HUD HMDA data collection process to the Board.
Agreement 12/02/04
FRB BHC Rating System Revised

The FRB has announced that its rating system for BHCs has been revised. The new system more closely aligns the rating process with the focus of the regulator’s current supervisory practices and is effective January 1, 2005. Rating System Revisions 12/02/04
OCC 2005 Fee Schedule Issued

The OCC has issued a bulletin regarding its fee schedule for 2005. Bulletin; Fee Schedule 12/02/04
Existing FTO/SDGT Designation Changed

OFAC has changed the listing of an existing FTO/SDGT designated entity. Information regarding the change has been posted on the BOL OFAC page. 12/02/04
New Issue Beige Book Published

The FRB has published the December 1, 2004 issue of the Beige Book which contains economic reports from each of the twelve Federal Reserve Districts. Beige Book 12/02/04
FRB Issues Statistical Releases

The FRB has issued the November 2004 3.12 , 3.13 and G.5 statistical releases regarding U.S. Reserve Assets, Foreign Official Assets Held at Federal Reserve Banks, and Foreign Exchange Rates.
3.12 and 3.13; G.5 12/02/04
FDIC FIL Regarding OFAC Changes

The FDIC has issued a FIL regarding previously announced changes made by OFAC to the SDN List. Information concerning the changes was posted on the BOL OFAC page on November 24, 2004. FIL 12/02/04
Supreme Court Decides Reg Z Case

In Koons Buick Pontiac GMC, Inc. v. Nigh, the U.S. Supreme Court determined the effect of the 1995 amendments to the damages limits for Truth in Lending violations. In so doing, they also shed light on what "subparagraph" and "clause" mean in the context of statutory interpretation. Bottom line: the $100/$1,000 limitation still stands. Court Decision 12/01/04
FDIC Issues First Quarter 2005 CRA Exam Schedule

The schedule of institutions scheduled for CRA examinations by the FDIC in the first quarter 2005 has been issued. CRA Exam Schedule 12/01/04
Sarbanes-Oxley Internal Control Reports Deadline Extended

The SEC and the Public Company Accounting Oversight Board have extended the deadline for the filing by many SEC registrants, including banks, of management reports and auditor attestations on internal controls required by Sarbanes-Oxley. Registrants that qualify are granted a 45-day extension. Deadline Extension 12/01/04
New Iraqi Executive Order Issued

The President has issued a new Executive Order which extends to the Central Bank of Iraq the same immunity from attachment and other judicial process granted to the Development Fund for Iraq and to Iraqi petroleum and petroleum products. Information regarding the Executive Order has been posted on the BOL OFAC page. 12/01/04
Large Banks Ranking Released

The FRB has released the ranking by consolidated assets of insured U.S.-chartered commercial banks with consolidated assets of $300 million or more as of September 30, 2004. Ranking 12/01/04
September 30, 2004 Call Report Data Finalized

The Call Report and TFT Data for September 30, 2004 has been finalized and is available from the FDIC Web site. Call Report Data 12/01/04

First published on:

11/30/2004

Filed under:

Compliance

Lending

Operations

Security

Technology

Report a problem with this page

Top Stories for December 2004

MSB Registration List Updated

MSB Registration List

Credit Scoring Working Paper Published

FDIC To Hold Minority Bankers Roundtables

Proper Disposal of Consumer Information Under FACTA

Auditor Of Failed Bank To Pay $125 Million

Five SDGTs Removed From SDN List

FFIEC Posts Country Exposure Forms Online

Reg. C, HMDA Final Rule

Retail Lending Examination Procedures Issued By OCC

Special Alerts Issued Regarding Counterfeit Cashier’s Checks and Money Orders

Edward Jones Settles For $75 Million

California Trust Company Issued C&D

Implementation of Schedule RED Postponed By OTS

Third Quarter Survey Of Terms Of Business Lending Released

Learn About FRB’s Cash Services Online

FRB Revises IP Index

OFAC Blocked Account SAR Filing Guidance Published in FR

FTC Notice on FCRA Disclosure Fees

Agencies Announce Final Rule On Disposal Of Consumer Information

HMDA Data Collection Asset-Size Exemption Threshold Increased

OFAC Adds al Qaida Associates

FDIC Follows SEC Lead Regarding Deadline Extension

International Reserve Position Update

September 2004 Structure And Share Data Report Released

G.20 Finance Companies Receivables Report Issued

Inflation Forecast Working Paper Published

Derivatives Volume Tops $84 Trillion

OCC Issues Supplemental ACH Guidance

SDN Changes Subject Of FIL

FDICconnect Expansion Announced

SDN List Changes

Preliminary Annual Report on U.S. Holdings Of Foreign Securities Released

First Quarter 2004 Issue Of Quarterly Journal Now Online

Balkan Individuals And Entities Added To OFAC List

Shared National Credits Data Collection Changes Proposed

Thirty-Six CRA Evaluations Announced

December 2004 Electronic Interpretations and Actions Posted Online

HOEPA January 2005 Reference Rates

Winter Issue Supervisory Insights Published

Counterfeit Checks And Money Orders Special Alerts Issued

NCUA Liquidates CU

OFAC Blocked Account SAR Filing Guidance Issued

December 2004 Call Report Subject Of FIL

OCC Enforcement Actions Announced

First Quarter 2004 CRA Exam Schedule Released

NCUA Issues Prohibition Orders

Interest Rate Risk Exposure Report Issued

FRB Publishes Holiday List

October TIC Data Released

Foreign Bank Subsidiaries Authorized To Manage Trust Investments In U.S. Real Estate

FDIC ID Theft Study Results Released

FRB Raises Rates

International Reserve Position Updated

G.17 Report Released

AML Program Requirements Guidance from FinCEN Published in FR

October FDIC Enforcement Actions Announced

Unauthorized Internet Banking Special Alert

Special Alert Regarding Missing Cashier’s Checks

FIL Issued Regarding FACT Act Effective Dates

Final Third Quarter Interest Rate Measures Report Released

Money Smart CBI Version Now Available

HMDA Disclosure Tables Revised

Thrift Assessments And Fees Adjusted

FinCEN 314a Fact Sheet Updated

The FDIC has issued three Special Alerts

FinCEN Issues AML Program Requirements Guidance

Flow Of Funds And Household Debt Reports Issued

Autumn 2004 Issue FR Bulletin Published

Cuban Travel Agency Added To SDN List

Opt Out Report Submitted To Congress

NCUA Announces Free PALS Workshop

Federal Reserve Proposed Rule for Truth in Lending - Reg Z:

Regulators Issue BOLI Guidance

Critical Financial Infrastructure Protection Report Released

OCC Offers Consumers Holiday Tips On Utilization Of Gift Cards

International Reserve Position Updated

October Consumer Credit Report Released

Comments Sought On Proposal To Continue Utilization Of Certain Forms