Exception Tracking Spreadsheet (TicklerTrax™)
Downloaded by more than 1,000 bankers. Free Excel spreadsheet to help you track missing and expiring documents for credit and loans, deposits, trusts, and more. Visualize your exception data in interactive charts and graphs. Provided by bank technology vendor, AccuSystems. Download TicklerTrax for free.
Top Stories for January 2005
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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Foreign Exchange Rates Released
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Two FEDS Papers Published
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
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 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
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