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Top Story Lending Related

01/14/2005

First Horizon to pay $110M

The Federal Housing Finance Agency (FHFA), as conservator of Fannie Mae and Freddie Mac, has announced a settlement for $110 million with First Horizon National Corporation, related companies and specifically named individuals. The settlement resolves claims in a Federal court lawsuit alleging First Horizon violated Federal and District of Columbia securities laws in connection with private-label mortgage-backed (PLM) securities purchased by Fannie Mae and Freddie Mac during 2005-2007. Pursuant to the agreement, First Horizon will pay $61.6 million to Fannie Mae and $48.4 million to Freddie Mac.

01/14/2005

IFR payment agreements status report

An OCC News Release has provided a status report on Independent Foreclosure Review (IFR) Payment Agreements that required large mortgage servicers to provide $3.9 billion in payments to 4.4 million eligible borrowers and $6.1 billion in other loss mitigation and foreclosure prevention assistance.

01/14/2005

Mercury Network to waive fees

BOL advertiser the Mercury Network has announced it is waiving all transaction fees for Catastrophic Disaster Area Property Inspection Reports in the tornado-impacted areas to help lenders get an assessment of collateral in those areas. With that, closings for unaffected properties can proceed so those local economies move quickly towards recovery. In addition, they have published a relief line for any industry colleagues who may have been directly affected. They can reach out to relief@alamode.com for supplies and financial help, advises Mercury Network EVP Molly Dowdy.

01/14/2005

Fannie and Freddie stress test results

The Federal Housing Finance Agency has released Projections of the Enterprises' Financial Performance, a report providing updated information on possible ranges of future financial results of Fannie Mae and Freddie Mac under specified scenarios. The report reflects results of stress tests Fannie Mae and Freddie Mac are required to conduct under the Dodd-Frank Act.

01/14/2005

FDIC weather-related disaster relief guidance

FDIC FIL-22-2014 announces steps intended to provide regulatory relief to financial institutions and to facilitate recovery in areas of Arkansas affected by severe storms, tornadoes, and flooding on April 27, 2014:

  • A federal disaster for selected areas in Arkansas was declared on April 29, 2014. Additional designations may be made after damage assessments are completed in the affected areas. A current list of designated areas is available at www.fema.gov.
  • The FDIC is encouraging banks to work constructively with borrowers experiencing difficulties beyond their control because of damage caused by the severe weather.
  • Extending repayment terms, restructuring existing loans, or easing terms for new loans, if done in a manner consistent with sound banking practices, can contribute to the health of the local community and serve the long-term interests of the lending institution.
  • Banks may receive favorable Community Reinvestment Act (CRA) consideration for community development loans, investments, and services in support of disaster recovery.
  • The FDIC also will consider regulatory relief from certain filing and publishing requirements.

01/14/2005

First Horizon to pay $110M

The Federal Housing Finance Agency (FHFA), as conservator of Fannie Mae and Freddie Mac, has announced a settlement for $110 million with First Horizon National Corporation, related companies and specifically named individuals. The settlement resolves claims in a Federal court lawsuit alleging First Horizon violated Federal and District of Columbia securities laws in connection with private-label mortgage-backed (PLM) securities purchased by Fannie Mae and Freddie Mac during 2005-2007. Pursuant to the agreement, First Horizon will pay $61.6 million to Fannie Mae and $48.4 million to Freddie Mac.

01/14/2005

IFR payment agreements status report

An OCC News Release has provided a status report on Independent Foreclosure Review (IFR) Payment Agreements that required large mortgage servicers to provide $3.9 billion in payments to 4.4 million eligible borrowers and $6.1 billion in other loss mitigation and foreclosure prevention assistance.

01/14/2005

Mercury Network to waive fees

BOL advertiser the Mercury Network has announced it is waiving all transaction fees for Catastrophic Disaster Area Property Inspection Reports in the tornado-impacted areas to help lenders get an assessment of collateral in those areas. With that, closings for unaffected properties can proceed so those local economies move quickly towards recovery. In addition, they have published a relief line for any industry colleagues who may have been directly affected. They can reach out to relief@alamode.com for supplies and financial help, advises Mercury Network EVP Molly Dowdy.

12/31/2004

Top Stories for January 2005

  • FTO Designation Changes

    OFAC has changed an existing FTO designation on the SDN List. Information regarding the change has been posted on the BOL OFAC page.   1/31/05

  • CDR Rollout Schedule Announced

    The federal banking agencies have announced that the Central Data Repository (CDR), an Internet-based system created to modernize and streamline how the agencies collect, validate, manage, and distribute Call Report data will be available for testing by banks and software vendors early this summer.
    FRB PR;
    OCC NR;
    FDIC PR    1/31/05

  • AML/BSA Written Agreement Announced

    The FRB has announced the execution of a Written Agreement by and between the Asian Bank, Philadelphia, Pennsylvania and the Federal Reserve Bank of Philadelphia regarding correction of deficiencies in the bank’s AML and BSA policies and procedures.
    Written Agreement
       1/31/05

  • Assets Reports Released
    The FRB has released the December 2004 3.12 U.S. Reserve Assets and 3.13 Foreign Official Assets Held at Federal Reserve Banks reports.
    Assets Reports
       1/31/05

  • Winter State Profiles Online

    The FDIC has posted on its Web site the Winter 2004 State Profiles which contain banking and economic conditions for each state. State Profiles    1/31/05

  • SDGT FIL Issued

    The FDIC has issued a FIL regarding the previously announced addition of an individual to the SDN list with the designation of SDGT. Information concerning the addition was posted January 25, 2004 on the BOL OFAC page.    1/31/05

  • NCUA Final Rule in FR on conversion of insured credit unions to mutual savings banks (MSBs). Final Rule Published in FR 1/28/05.   1/28/05

  • Counterfeit Cashier’s Checks Special Alert

    The FDIC has issued a Special Alert regarding counterfeit cashier’s checks bearing the name of Benton Banking Company, Benton, Tennessee. Information concerning the counterfeit cashier’s checks has been posted on the BOL Alerts & Counterfeits page.    1/28/05

  • Regulators Issue Basel II Implementation Guidance

    The federal banking and thrift regulators have released an interagency statement on implementation of the Basel II framework and the qualification process for the framework's "advanced approaches."
    Statement
    FRB PR;
    OCC NR;
    OTS PR    1/28/05

  • C&D Issued Against Riggs

    FRB has announced the issuance of a consent Order to Cease and Desist against Riggs National Corporation, Washington, D.C., regarding management, capital, and contingency planning matters. The OCC has also announced the modification of a prior Consent Order. In another action, Riggs pled guilty to criminal violations of the BSA relating to the bank's failure to timely and accurately report suspicious transactions.
    FRB PR;
    FRB Order
    OCC Order    1/28/05

  • Bond Liquidity Working Paper Published

    A working paper in the FEDS series has been published by the FRB on the topic, “Does Trading Frequency Affect Subordinated Debt Spreads?”. Working Paper    1/28/05

  • NCUA Final Rule in FR on Mergers


    NCUA - The National Credit Union Administration (NCUA) is issuing final revisions to its rule on credit union mergers, federal share insurance terminations, and conversions from federal share insurance to nonfederal insurance. Final Rule Published in FR 1/24/05.    1/27/05

  • 314a Facts And Feedback

    FinCEN has issued a fact sheet containing the latest feedback received from law enforcement agencies concerning the responses filed by financial institutions to 314a requests.
    314a Fact Sheet    1/27/05

  • Financial Holding Companies List Updated

    The FRB has updated the list of bank holding companies that have elected to be treated as financial holding companies as of January 14, 2004. List    1/27/05

  • 2005 Economic Outlook Roundtable Report

    The FDIC has published a new edition of FYI which contains a report on the comments regarding the outlook for the U.S. consumer sector made by various panelists at the 2005 Economic Outlook Roundtable.
    FYI;
    Roundtable Transcript
       1/27/05

  • Counterfeit Cashier’s Checks Special Alert

    The FDIC has issued a Special Alert regarding counterfeit cashier’s checks bearing the name of Cornerstone Community Bank, Chattanooga, Tennessee. Information concerning the counterfeit cashier’s checks has been posted on the BOL Alerts & Counterfeits page.    1/26/05

  • Terrorist Financier Added To OFAC List

    OFAC has added the name of an individual, who has been providing financial and material support to the al-Zarqawi Network and al Qaida, to the SDN list as a SDGT. Information regarding the individual has been posted on the BOL OFAC page.    1/26/05

  • International Reserve Position

    Treasury has released the U.S. International Reserve Position as of the week ending January 21, 2005.
    Reserve Position    1/26/05

  • Basel II White Paper Published

    The FRB has published a White Paper on the topic “The Potential Impact of Explicit Basel II Operational Risk Capital Charges on the Competitive Environment of Processing Banks in the United States”.
    White Paper    1/26/05

  • HMDA Data Collection Exemption Threshold Bulletin Issued

    The OCC has issued a Bulletin regarding the previously announced increase in the HMDA data collection exemption threshold for depository institutions under Reg C. Information concerning the increase was posted in the December 22 and December 27, 2004 BOL Top Stories Bulletin 2005-2    1/25/05

  • Credit Unions Add Over 27 Million Potential New Members

    NCUA has announced that federal credit unions added over 27.4 million potential new members in 2004.
    New Members    1/25/05

  • NCUA - Final Rule in FR on Mergers

    The National Credit Union Administration (NCUA) is issuing final revisions to its rule on credit union mergers, federal share insurance terminations, and conversions from federal share insurance to nonfederal insurance. Final Rule Text version    1/24/05

  • International Reserve Position

    Treasury has released the U.S. International Reserve Position for the week ending January 14, 2005.
    Reserve Position    1/24/05

  • Missing Cashier’s Checks Special Alert

    A Special Alert has been issued by the FDIC regarding missing cashier's checks drawn on Bank of America, National Association, Charlotte, North Carolina. Information concerning the cashier’s checks has been posted on the BOL Alerts & Counterfeits page.    1/20/05

  • Banking License Revoked

    The FDIC has issued a Special Alert concerning the revocation by the Financial Institutions Commission of the Republic of Palau of the banking license of the Sunra International Bank & Trust Corporation.
    Special Alert    1/20/05

  • September 30 Call Reports Available Online

    The FDIC has announced that the September 30, 2004 Call Reports are available for download from its Web site.
    Call Reports    1/20/05

  • Beige Book

    The FRB has published an update of the Beige Book based on information collected before January 10, 2005.
    Summary;
    Beige Book    1/20/05

  • 314a FIL

    A FIL has been issued by the FDIC regarding FinCEN’s previously announced plans to release its 314(a) search requests to financial institutions through a new secure Web-based system. Information concerning the plan was included in the January 18, 2005 BOL Top Stories. FIL    1/20/05

  • SDNKT FIL Issued

    The FDIC has issued a FIL regarding the previously announced addition by OFAC of thirty-nine individuals and entities to its list of SDNTKs and SDNs. Information concerning the additions was posted in the January 13, 2005 BOL Top Stories. http://www.bankersonline.com/topstory/topstory.html
    FIL    1/20/05

  • OCC Opposes Proposal To Expand FDIC Special Examination Authority

    Acting Comptroller Williams spoke in opposition to a proposal to expand the Federal Deposit Insurance Corporation’s special examination authority at the January 18, 2005 FDIC board meeting.
    Statement    1/19/05

  • February HOEPA 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 February 2005 will be subject to HOEPA under the APR trigger test. Use the 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 that precedes the month you received the application. For February, you will use the rates posted on January 14th since January 15th fell on the weekend.
    H. 15 Daily Rates;
    H. 15 Weekly Rates    1/19/05

  • OCC CRA Evaluations Released

    The OCC has released a list of twenty-five CRA performance evaluations that became public during the period of December 15, 2004 through January 14, 2005.
    CRA    1/19/05

  • November 2004 TIC Data Released

    Treasury has released the Treasury International Capital Data for November 2004.
    TIC    1/19/05

  • Fourth Quarter Asset & Liability Price Tables

    OTS has released the Asset & Liability Price Tables for the Fourth Quarter 2004.
    Tables    1/19/05

  • FDIC Issues Letter To Stakeholders

    The FDIC has issued its quarterly Letter to Stakeholders, which reports on the FDIC's priorities and activities for the fourth quarter of 2004.Letter    1/19/05

  • FDIC Insurance Employee Training Video Available

    The FDIC has issued a FIL announcing that a ninety minute video-seminar targeted for bank employees on the FDIC's rules and requirements for deposit insurance coverage is now available online.
    FIL    1/18/05

  • Online 314a Distribution System Being Tested

    The OCC has issued an Alert to inform national banks and federal branches that FinCEN plans to introduce a new Web-based section314(a) delivery and reporting system during the month of February that should be fully operational by March 1, 2005. The Alert contains a memorandum received by those institutions that were arbitrarily selected to test the system.
    314a Alert
    FinCEN Memo    1/18/05

  • December G. 17 Released

    The FRB has released the G. 17 Industrial Production and Capacity Utilization report for December 2004.
    G. 17    1/18/05

  • Costs Of Funds Ratios Announced

    OTS has announced the historical and current Cost of Funds Ratios to OTS Regulated, SAIF - Insured Institutions as for November 2004. Historical;
    Current    1/18/05

  • OCC Enforcement Actions Announced

    Six new enforcement actions taken against national banks and individuals currently and formerly affiliated with national banks and two terminations of existing actions have been announced by the OCC.
    Enforcement Actions    1/14/05

  • Merger Disclosure Requirements Final Rule Issued

    NCUA has issued final rule amending the disclosure requirements to credit union members of an institution’s intention to convert to private deposit insurance or to a mutual savings bank.
    Final Rule    1/14/05

  • Three More Working Papers Published

    The FRB has published three new FEDS series working papers with the following titles: The GSE Implicit Subsidy and the Value of Government Ambiguity; The Effect of Housing Government-Sponsored Enterprises on Mortgage Rates; and GSEs, Mortgage Rates, and Secondary Market Activities.
    GSE; Effect; Activities    1/14/05

  • G.20 Released

    The G. 20 Financial Companies report for November 2004 has been released by the FRB. G. 20    1/14/05

  • 39 Named To OFAC List

    Treasury has identified 15 companies and 24 individuals associated with a money laundering cell of a violent drug trafficking ring operating out of Mexico. OFAC has added the names of the 39 entities to the SDN list as SDNTKs. Information regarding the new additions has been posted on the BOL OFAC page
    .    1/13/05

  • OCC Urges Rethinking Of Consumer Protection Disclosures

    In a presentation before the Women in Housing Finance and The Exchequer Club, Acting Comptroller Williams urged bankers, government officials, and consumer advocates to work together to improve our current system of disclosure for financial consumers. She noted that the current system does not work well for consumers and imposes unnecessary burdens on bankers.
    Speech    1/13/05

  • Bulletin Issued Regarding Disposal Of Consumer Information

    The OCC has issued a Bulletin regarding the previously announced Final Rule regarding the disposal of consumer information. Notice of the Final Rule was posted December 22, 2004 in
    BOL Top Stories
    .
    Bulletin;
    Final Rule    1/13/05

  • New FEDS Paper Online

    The FRB has posted online a new working paper in the FEDS series entitled “Econometric Tests of Asset Price Bubbles: Taking Stock”.
    Abstract;
    Full Paper    1/13/05

  • FDIC Enforcement Actions Announced

    The FDIC has announced sixteen enforcement actions taken against banks and individuals in November 2004 which include: three cease and desist orders, four removal and prohibition orders, seven civil money penalty orders, and two terminations of insurance.
    Enforcement Actions    1/12/05

  • December 2004 Financial Reporting Bulletin Published

    OTS has released the December 2004 Financial Reporting Bulletin which contains information regarding filing deadlines and software, implementation of schedule red, public availability of the TFR, and an instruction manual update.
    Bulletin; Instruction Manual    1/12/05

  • 2005 Regulatory Report Filing Schedule Released

    The 2005 filing schedule for regulatory reports to be filed by thrifts has been released by OTS.
    Filing Schedule    1/12/05

  • Discount Rate Meeting Minutes Online

    The FRB has posted the minutes of the discount rate meeting held from November 22 through December 14, 2004.
    Minutes    1/12/05

  • International Reserve Position Update

    Treasury has released the U.S. International Reserve Position for the week ending January 7, 2005.
    Reserve Position    1/11/05

  • FEDS Working Papers Published

    The FRB has published three new working papers in the FEDS series with the following titles: Precautionary Savings Motives and Tax Efficiency of Household Portfolios: An Empirical Analysis; The Reform of October 1979: How It Happened and Why; and Who Competes with Whom? The Case of Depository Institutions.
    Household Portfolios;
    Reform;
    Competes    1/11/05

  • OFAC Cites Three Banks

    OFAC has released the civil penalties enforcement information for January 7, 2005. Three banks settled actual or alleged violations of Iranian and Libyan sanction programs for amounts ranging from $5,500 to $42,833.
    Civil Penalties    1/10/05

  • Unauthorized Bank Alert Issued

    The OCC has been advised by the Financial Institutions Commission, Republic of Palau, that the banking license of Sunra International Bank & Trust Corporation was revoked on January 6, 2005.
    Unauthorized Banking    1/10/05

  • December 2004 Thrift CRA Evaluations Released

    OTS has released the CRA evaluations for saving association that became publicly available in December 2004.
    CRA Evaluations    1/10/05

  • December Call Report Filing Information Available Online

    The FDIC has posted the December 31, 2004 Call and Thrift Financial Report forms and filing information on its Web page. Call Report Info    1/10/05

  • Consumer Advisory Council 2005 Appointments Announced

    The FRB has announced the appointments to the Consumer Advisory Council for 2005. Eleven new members were named to three-year terms and a new Chair and Vice Chair were designated.
    CAC Appointments    1/10/05

  • Consumer Credit Report Released

    The FRB has released the G. 19 Consumer Credit Report for November 2004.
    Consumer Credit Report    1/10/05

  • Counterfeit Checks Special Alerts Issued

    The FDIC has issued two Special Alerts regarding counterfeit cashier’s checks drawn on First American Bank, SSB, Bryan, Texas and counterfeit official checks drawn on UmbrellaBank.com, Summit, Illinois, an Internet division of New South Federal Savings Bank, Irondale, Alabama. Information concerning the counterfeits checks has been posted on the BOL Alerts & Counterfeits page.    1/06/05

  • Cross-Border Merger Regulations Proposed

    Treasury and the IRS have issued proposed regulations providing guidance on the tax consequences of certain cross-border corporate mergers. Summary Proposed Regs    1/06/05

  • CRA Ratings Released

    The FDIC has issued its monthly list of state nonmember banks recently evaluated for CRA compliance. The list contains the evaluation ratings assigned to institutions in October 2004.
    CRA Ratings    1/06/05

  • Written Agreement Announced With Oregon BHC

    The FRB has announced the execution of a Written Agreement by and among Prineville Bancorporation, Prineville, Oregon; the Community First Bank, Prineville Oregon; the Oregon Division of Financial and Corporate Securities, Salem, Oregon; and the Federal Reserve Bank of San Francisco.
    Written Agreement
       1/06/05

  • FDIC Updates State Profiles

    The Winter 2004 State Profiles have been released by the FDIC. State Profiles    1/06/05   1/06/05

  • Country Exposure Reports Issued

    The FFIEC has issued the September 30, 2004 E.16 Country Exposure Statistical Release and Country Exposure Information Report. E.16; Report    1/06/05

  • Three Counterfeit Cashier’s Checks Special Alerts Issued

    The FDIC has issued three Special Alerts regarding counterfeit cashier’s checks drawn on Bank Mutual, Milwaukee, Wisconsin; Evergreen Bank, Seattle, Washington; and The Bank/First Citizens Bank, Cleveland, Tennessee. Information concerning the counterfeit items has been posted on the BOL Alerts & Counterfeits page.   1/05/05

  • Comments Sought Regarding Management Interlocks Reports

    The OCC has published in the FR a notice and request for comments regarding the collection of information concerning management interlocks. The comment period ends on January 31, 2005.
    Management Interlocks    1/05/05

  • International Reserve Position Update

    Treasury has released the U.S. International Reserve Position for the week ending December 31, 2004.
    Reserve Position    1/05/05

  • December 2004 Agricultural Finance Databook Released

    The FRB has released the December 2004 edition of the E. 15 Agricultural Finance Databook.
    E. 15    1/05/05

  • Minority-Owned Banks Report Issued
    The FRB has issued the list of minority-owned banks as of September 30, 2004.
    Minority-Owned Banks   1/05/05

  • Agency Information Collection Activities Proposals Issued



  • The FRB has issued proposals to approve the extension for three years, with minor revision, the ongoing intermittent survey of households, and without revision, the recordkeeping requirements associated with the real estate lending standards for State Member Banks. Proposal   1/04/05

  • Foreign Exchange Rates Released



  • The FRB has released the December 2004 G.5 and Annual 2004 G.5A foreign exchange rate reports.
    G.5; G.5A   1/04/05

  • Two FEDS Papers Published



  • Two working papers in the FEDS series have been published by the FRB on the following topics: “Alternative Estimates of the Presidential Premium” and “The Magnitude and Cyclical Behavior of Financial Market Frictions”. Alternative Estimates; Magnitude   1/04/05

11/30/2004

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

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