Top Stories for October 2009

California CU Liquidated - Loans and Shares Assumed

NCUA was appointed liquidating agent of the Second Baptist Church Credit Union (Second Baptist) of Los Angeles by the California Department of Financial Institutions and Prosperity Federal Credit Union of Rancho Domingue, CA, has purchased and assumed Second Baptist loans and shares. Second Baptist   10/30/09

Geithner and Regulators Comment on Financial Reform

In testimony to the House Financial Services Committee, Secretary Geithner, Comptroller Dugan, Chairman Bair, and Acting OTS Director Bowman commented on the proposed financial system reform legislation. Geithner Written Testimony; Dugan Oral Statement; Dugan Written Statement; Bair Statement; Bowman Statement  10/30/09

Written Agreements Announced

The FRB has announced the execution of the following Written Agreements: by and among West Tennessee Bancshares, Inc., a registered bank holding company, Bank of Bartlett, a state chartered member bank, both of Bartlett, TN, and the Federal Reserve Bank of Saint Louis.; by and among First Banking Center, Inc., a registered bank holding company, First Banking Center, a state chartered member bank, both of Burlington, WI, the Federal Reserve Bank of Chicago, and the State of Wisconsin Department of Financial Institutions. West Tennessee; First Banking  10/30/09

Special Alert Fraudulent Transfer Agent Schemes

The FDIC has issued a Special Alert warning financial institutions of an increase in schemes to recruit individuals to receive and transmit unauthorized electronic funds transfers (EFTs) from deposit accounts to individuals overseas. Special Alert  10/30/09

FinCEN Issues AML/CFT Advisory

The Financial Crimes Enforcement Network ("FinCEN") has issued an advisory guidance to inform banks and other financial institutions operating in the United States of the risks associated with deficiencies in the anti-money laundering ("AML") and counter-terrorist financing ("CFT") regimes in Iran; Uzbekistan; Turkmenistan; Pakistan; and São Tomé and Príncipe. Advisory  10/30/09

NCUA Publishes Final Rule in FR for Display of Official Sign; Temporary Increase in Standard Maximum Share Insurance Amount; Coverage for Mortgage Servicing Accounts; Share Insurance for Revocable Trust Accounts

NCUA is amending its share insurance rules to: reflect Congress's extension, until December 31, 2013, of the temporary increase in the standard maximum share insurance amount ("SMSIA:) from $100,000 to $250,000; and finalize the interim final rules on revocable trust accounts, mortgage servicing accounts, and NCUA's official sign issued in October 2008. TXT; PDF  10/29/09

Counterfeit Cashier's Checks Special Alert

A Special Alert has been issued by the FDIC regarding counterfeit cashier's check bearing the name of Bank of Pine Hill, Pine Hill, AL. Information concerning the counterfeit cashier's checks has been posted on the Alerts & Counterfeits page.  10/28/09

Written Agreements Announced

The FRB has announced the execution of the following Written Agreements:by and among Cascade Bancorp, Bend, OR, a registered bank holding company, the Federal Reserve Bank of San Francisco, and the State of Oregon, Department of Consumer and Business Services, Division of Finance and Corporate Securities; by and between EvergreenBancorp, Inc., Seattle, WA, a registered bank holding company, and the Federal Reserve Bank of San Francisco. Cascade; Evergreen  10/28/09

Credit Risk Working Paper Published

The OCC has published a working paper on the topic of "Correlation in Credit Risk". Paper  10/28/09

Examination Handbook Updated

The OTS has issued a Regulatory Bulletin regarding an update of the Internal Control section of its Examination Handbook. Bulletin  10/29/09

Three Written Agreements Announced

The FRB has announced the execution of the following Written Agreements; by and between Ogden BancShares, Inc., Boone, IA, a registered bank holding company, and the Federal Reserve Bank of Chicago; by and among Ames Community Bank, Ames, IA, a state chartered member bank, the Federal Reserve of Chicago, and the Iowa Division of Banking, Superintendent of Banking; and by and among VisionBank of Iowa, West Des Moines, IA, a state chartered member bank, the Federal Reserve of Chicago, and the Iowa Division of Banking, Superintendent of Banking. Ogden; Ames; VisionBank   10/28/09

Prompt Corrective Action Directive Issued

The FRB has announced the issuance of a consent Prompt Corrective Action Directive against SolutionsBank, Overland Park, KS, a state chartered member bank. Directive  10/28/09

Retroactive 23A Exemption Letter Released

A letter granting a retroactive exemption from section 23A of the Federal Reserve Act and the Board's Regulation W has been released by the FRB. Letter  10/28/09

Loan Modification FEDS Working Paper Published

The FRB has published a working paper in the Finance and Economic Discussion Series (FEDS) on the topic of "Designing Loan Modifications to Address the Mortgage Crisis and the Making Home Affordable Program." Abstract; Full Paper  10/28/09

Fraudulent Email Special Alert

Yesterday, in BOL Top Stories, we posted a Consumer Alert from the FDIC regarding fraudulent emails that appear to be from the FDIC that instruct consumers to "download and open your personal FDIC Insurance File to check your Deposit Insurance Coverage." Today a Special Alert on the same scam was issued. Special Alert  10/28/09

Reserve Position Update

The Treasury has updated the U.S. International Reserve Position Report with data current as of October 23, 2009. Report  10/28/09

New on BOL!

BankersOnline.com has a new Audit Area page with new workpapers and tools specifically for the auditor. This page grew from an idea in the BOL Threads, and bankers like you submitted these tools. The first section focuses on workpapers. Some of the topics include CRA, ALLL, SOX, Red Flags and there are many more. The second section has forms and other tools for the auditor. If you have anything to do with auditing, check out our new Audit Area.  10/27/09

Just the changes, please

With the HUD FAQs running 48 pages, it's time-consuming to go through them and find the bold print to determine what has been added. BankersOnline has gathered the new additions from the 10/23 revision and you can find just the new Q&As here: http://www.bankersonline.com/lending/lending_hudfaq.html  10/27/09

Fraudulent Email Alert

The FDIC has issued a Consumer Alert regarding emails that appear to be sent from the FDIC to consumers that direct them to visit a fake FDIC web site. Alert  10/27/09

Credit Union Letters

Two letters to Credit Unions have been sent by NCUA regarding premium assessments and the official NCUA sign. Assessments; Assessments Enc 1; Assessments Enc 2; Sign  10/27/09

Receivables Report Issued

The G.20 Finance Companies Owned and Managed Receivables Report for August 2009, has been issued by the FRB. G. 20  10/27/09

New RESPA FAQs

HUD has issued updates to its RESPA FAQs. FAQs  10/26/09

Bank President and Bank Added to OFAC List

The Treasury has designated Amroggang Development Bank and its president as proliferators of weapons of mass destruction for being owned or controlled by North Korea's Tanchon Commercial Bank and added their names to the SDN List. Information regarding the president and his bank has been posted on the OFAC page.  10/26/09

Bank Regulation After the Crisis – Bernanke's Views

In a presentation at the Federal Reserve Bank of Boston's 54th Economic Conference, Chairman Bernanke expressed his views on the role of the Federal Reserve in financial regulation and supervision after the financial crisis. Speech  10/26/09

Mexican Cartel Members Added to OFAC List

OFAC has designated a Mexican national, five members of his financial network, and one Mexico-based company as Specially Designated Narcotics Traffickers (SDNTKs) for their ties to a Tijuana Drug Cartel and added their names to the SDN List. Information regarding the individuals and the company has been posted on the OFAC page.  10/23/09

Executive Pay Cuts Announced

The Special Master for TARP Executive Compensation, Kenneth R. Feinberg, released determinations on the compensation packages for the top executives at firms that received exceptional TARP assistance. Compensation  10/23/09

Incentive Compensation Guidance Issued

The FRB has issued a proposed guidance and a Q&A regarding incentive compensation. Guidance; Q&A  10/23/09

New Electronic Interpretations and Actions Announced

The OCC has announced the publication of the October, 2009 list of New Electronic Interpretations and Actions. Electronic  10/23/09

NCUA Board Meeting Results

The results of the October 22, 2009, meeting of the NCUA Board have been published. Results  10/23/09

Beige Book Published

The October 21, 2009 issue of the Beige Book has been published by the FRB. Summary; Full Report  10/22/09

314(a) Fact Sheet Updated

FinCEN has updated the 314(a) Fact Sheet with data current as of October 20, 2009. 314(a)  10/22/09

Risk Management Practices Report Issued

The senior financial supervisors from seven countries have issued a report, "Risk Management Lessons from the Global Banking Crisis of 2008", that evaluates how weaknesses in risk management and internal controls contributed to industry distress during the financial crisis. A self-assessment template was also issued. Comptroller Dugan issued a statement regarding the issuance of the report. Report; Template; Dugan Statement  10/22/09

Reserve Position Update

The Treasury has updated the U.S. International Reserve Position Report with data current as of October 16, 2009. Report  10/22/09

MoneyGram to Pay $18 Million Settlement

MoneyGram International, Inc. will pay $18 million in consumer redress to settle FTC charges that the company allowed its money transfer system to be used by fraudulent telemarketers and will implement a comprehensive anti-fraud and agent-monitoring program. Settlement  10/21/09

Community Bank Directors Workshops Scheduled

The OCC will host workshops for national community bank directors in Phoenix on November 17-18, 2009. Online registration is available. Workshops; Registration  10/21/09

Quarterly Review of Interest Rate Risk

The 2nd Quarter 2009 issue of the Quarterly Review of Interest Rate Risk has been published by the OTS. Quarterly Review  10/21/09

FRB Proposes Rulemaking for Truth in Lending

The Board proposes to amend Regulation Z, which implements the Truth in Lending Act, and the staff commentary to the regulation in order to implement provisions of the Credit Card Accountability Responsibility and Disclosure Act of 2009 that are effective on February 22, 2010. The proposed rule would limit the application of increased rates to existing credit card balances, require credit card issuers to consider a consumer's ability to make the required payments, establish special requirements for extensions of credit to consumers who are under the age of 21, and limit the assessment of fees for exceeding the credit limit on a credit card account. TXT; PDF  10/21/09

Credit Auction Results

The Federal Reserve has announced the results of auction of $75 billion in 28-day credit held on October 19, 2009. Auction  10/21/09

Discount Rate Meetings Minutes

The minutes of the discount rate meetings held on September 8 and 21, 2009, have been released by the FRB. Minutes  10/21/09

New Director Appointed

The Federal Reserve has announced the appointment of Patrick M. Parkinson as director of the Division of Banking Supervision and Regulation, effective immediately. Appointment  10/21/09

Written Agreement with Minnesota BHC

The FRB has announced the execution of a Written Agreement between American Eagle Financial Corporation, Otsego, MN, a registered bank holding company (BHC), and the Federal Reserve Bank of Minnesota. Agreement  10/20/09

Bernanke Global Financial Crisis and Asia

In a presentation at the Federal Reserve Bank of San Francisco's Conference on Asia and the Global Financial Crisis, Chairman Bernanke discussed Asia's experience in the crisis, the diversity of experiences, finance and trade transmission channels, policy responses, and lessons learned. Speech  10/20/09

Reverse Mortgage Market FEDS Working Paper

A working paper in the Finance and Economic Discussion Series (FEDS) on the topic of "Reversing the Trend: The Recent Expansion of the Reverse Mortgage Market" has been published by the FRB. Abstract; Full Paper  10/20/09

Counterfeit Cashier's Checks Special Alert

A Special Alert has been issued by the FDIC regarding counterfeit cashier's checks bearing the name of Westfield Bank, FSB, Westfield Center, OH. Information concerning the counterfeit cashier’s checks has been posted on the Alerts & Counterfeits page.  10/19/09

November HOEPA Rates Established

The Federal Reserve has posted the new reference rates that lenders must use to determine if loans for certain applications received in November 2009, 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, use the yield in effect on the 15th of the month that precedes the month you received the application. H.15  10/19/09

Enforcement Actions Released

The OCC has released the Enforcement Actions recently taken against national banks and individuals currently and formerly affiliated with national banks. Actions  10/19/09

$34,265 Flood CMP Announced

The OCC has announced that a civil money penalty (CMP) of $34,265 has been imposed against National City Bank, Cleveland, OH, for violations of the Flood Act and its implementing regulations. Information regarding the CMP has been posted on the Flood Penalties Watch page.  10/19/09

California Bank Closed: All Deposits Assumed

The San Joaquin Bank, Bakersfield, CA, has been closed by the California Department of Financial Institutions and the FDIC as receiver, entered into a purchase and assumption agreement with Citizens Business Bank, Ontario, CA, to assume all of the deposits. San Joaquin Bank  10/19/09

August TIC Data Released

The Treasury has released the Treasury International Capital (TIC) data for August 2009. TIC  10/19/09

Industrial Production and Capacity Utilization Report

The G.17 Industrial Production and Capacity Utilization Report for August 2009, has been released by the FRB. G. 17  10/19/09

al-Qa'ida Member Added to OFAC

A German national has been designated by the Treasury as a SDGT for acting for or on behalf of al-Qa'ida and added his name to the SDN List. Information regarding the individual has been posted on the OFAC page.  10/16/09

CRA Ratings Released

The OCC has released the rating received by twenty-four national banks that were recently examined for compliance with the CRA. Ratings  10/16/09

Revised HMDA Exam Procedures CEO Letter

A CEO Letter and Regulatory Bulletin has been issued by the OTS regarding the recently revised HDMA examination procedures concerning reporting price information on higher-priced loans. CEO Letter; Bulletin   10/16/09

FedFlash Only Online

The October 15, 2009 issue of FedFlash has been posted online by FR Financial Services. REMINDER: You can only read the issue online. FedFlash  10/16/09

International Economic and Exchange Rates Report

The Treasury has released its Semi-Annual Report to Congress on International Economic and Exchange Rate Policies which covers generally the period from January 2009, through June 2009, but also contains information through early October 2009. Report  10/16/09

Cost of Funds Reports Released

The OTS has released the Historical and Current Cost of Funds for OTS regulated institutions reports. Historical; Current  10/16/09

China Working Paper Published

The FRB has published a working paper in the Finance and Economics Discussion Series (FEDS) on the topic of "Education's Role in China's Structural Transformation." Abstract; Full Paper  10/16/09

Counterfeit Cashier’s Checks Alert

The OCC has issued an Alert regarding counterfeit cashier’s checks issued in the name of Citizens First National Bank, Princeton, IL. Information regarding the counterfeit cashier’s checks has been posted on the Alerts & Counterfeits page.  10/15/09

OTS Revises Examination Handbook

The Section 214 of the OTS Examination Handbook, Other Commercial Lending, has been revised. Handbook  10/15/09

FRB Publishes Technical Amendment to Final Rule in FR for Availability of Funds and Collection of Checks

The Board of Governors (Board) is amending the routing number guide to next-day availability checks and local checks in Regulation CC to delete the reference to the head office of the Federal Reserve Bank of Dallas and to reassign the Federal Reserve routing symbols currently listed under that office to the head office of the Federal Reserve Bank of Cleveland. The Board is also amending the routing number guide to delete the reference to the Los Angeles branch office of the Federal Reserve Bank of San Francisco and to reassign the routing symbols currently listed under that office to the head office of the Federal Reserve Bank of Cleveland. These amendments reflect the restructuring of check-processing operations within the Federal Reserve System. TXT; PDF  10/15/09

FRB Publishes Final Rule in FR for Reserve Requirements of Depository Institutions

The Board is amending Regulation D, Reserve Requirements of Depository Institutions, to reflect the annual indexing of the reserve requirement exemption amount and the low reserve tranche for 2010. The Regulation D amendments also set the amount of net transaction accounts at each depository institution that is subject to a three percent reserve requirement in 2010 at $55.2 million, up from $44.4 million in 2009. The Board is also announcing changes in two other amounts, the nonexempt deposit cutoff level and the reduced reporting limit, that are used to determine the frequency at which depository institutions must submit deposit reports. TXT; PDF  10/15/09

The Treasury Proposes Rulemaking for the Drawback of Internal Revenue Excise Tax

This document proposes to amend title 19 of the Code of Federal Regulations to preclude situations where imported merchandise subject to Federal excise tax is allowed into the United States, in effect, 99 percent free of that tax through application of a drawback claim. This document also proposes to amend title 19 by adding a basic importation and entry bond condition to foster compliance with the amended drawback provision. TXT; PDF  10/15/09

Kongra-Gel Leaders Added to OFAC List

OFAC has designated three senior leaders of the Kongra-Gel (f/k/a the Kurdistan Workers Party (PKK)), as significant foreign narcotics traffickers under the Foreign Narcotics Kingpin Designation Act (Kingpin Act) and added their names to the SDN List. Information regarding the individuals has been posted on the OFAC page.  10/15/09

Written Agreement with Illinois BHC and Bank

The FRB has announced the execution of a Written Agreement by and among BOI Financial Corporation, a registered bank holding company, Bank of Illinois, a state chartered member bank, both of Normal, IL, and the Federal Reserve Bank of Chicago. Agreement  10/15/09

TARP SAR Filings

FinCEN has issued an Advisory on filing Suspicious Activity Reports (SARs) regarding TARP (Troubled Asset Relief Program) related programs. Advisory  10/15/09

SAR Activity Review Released

The 16th Annual issue of the SAR Activity Review - Trends, Tips & Issues has been release. SAR Activity Review  10/15/09

Dugan and Bair Testify

In testimony before Subcommittee on Financial Institutions of the Senate Committee on Banking, Housing, and Urban Affairs, Comptroller Dugan noted that while credit quality is continuing to worsen, the vast majority of national banks are strong and have the financial capacity to withstand declining asset quality; and Chairman Bair discussed the condition of FDIC-insured institutions and the deposit insurance fund (DIF). Dugan Oral Statement; Dugan Written Testimony; Bair Statement  10/15/09

FOMC Minutes Released

The minutes of the September 22-23, 2009, meeting of the Federal Open Market Committee (FOMC) have been released by the FRB. Minutes  10/15/09

Working Papers Published

Three working papers in the Finance and Economics Discussion Series (FEDS) and International Finance Discussion Papers (IFDP) series have been published by the FRB on the following topics:

1. Credit Card Redlining Revisited;
2. Bayesian Analysis of Stochastic Volatility Models with Levy Jumps: Application to Risk Analysis;
   
3. Did Easy Money in the Dollar Bloc Fuel the Global Commodity Boom?

Credit Card Abstract; Credit Card Full Paper; Bayesian Abstract; Bayesian Full Paper; Easy Money Abstract; Easy Money Full Paper  10/15/09

Counterfeit Cashier's Checks Special Alerts

Two Special Alerts have been issued by the FDIC regarding counterfeit cashier's checks bearing the name of Citibank, N.A., Hagatna, Guam, and Republic Bank & Trust Company, Louisville, KY. Information concerning the counterfeit cashier's checks has been posted on the Alerts & Counterfeits page.  10/14/09

Written Agreement with Illinois BHC

The FRB has announced the execution of a Written Agreement by and between CBR Holdings, Inc., Chicago, IL, a registered bank holding company (BHC), and the Federal Reserve Bank of Chicago. Agreement  10/14/09

FDIC Proposes Rulemaking for Assessments - Paperwork Reduction Act

On October 2, 2009, the Federal Deposit Insurance Corporation (FDIC) issued a notice of proposed rulemaking with request for comments to amend its assessment regulations to require insured institutions to prepay, on December 30, 2009, their estimated quarterly risk-based assessments for the fourth quarter of 2009, and for all of 2010, 2011, and 2012. The FDIC would begin to offset prepaid assessments on March 30, 2010, representing payment for the fourth quarter of 2009. The FDIC is supplementing that notice of proposed rulemaking with a Paperwork Reduction Act analysis and seeking comment on the Paperwork Reduction Act implications of the proposed rule. TXT; PDF  10/14/09

FinCEN Releases Large Institutions BSA Report

FinCEN Director Freis has announced: 1) the findings of the Financial Institutions Outreach Initiative report which contains information about Bank Secrecy Act (BSA) practices and procedures among large depository institutions and 2) the expansion of the outreach program to depository institutions with assets under $5 billion. Report Summary; Full Report; Expansion  10/14/09

Bernanke – FRB's Balance Sheet Update

In a presentation at the Federal Reserve Board Conference on Key Developments in Monetary Policy in Washington, D.C., Chairman Bernanke discussed an update of the FRB's balance sheet.
Speech  10/09/09

October 2009 FedFocus

The October 2009, issue of FedFocus has been posted online by the FR Financial Services. FedFocus  10/09/09

2010 NCUA Board Meeting Schedule Released

The 2010 NCUA Board Meeting schedule has been released. Schedule  10/09/09

The FRB Proposes Rulemaking for Extension of Credit by Federal Reserve Banks

The Board of Governors (Board) is publishing for public comment a proposed amendment to Regulation A that would provide a process by which the Federal Reserve Bank of New York may determine the eligibility of credit rating agencies and the ratings they issue for use in the Term Asset-Backed Securities Loan Facility, which is maintained by the Federal Reserve Bank of New York and for which the Board has expressly set a particular credit rating requirement for collateral offered by the borrower. The proposed rule would not apply to discount window lending or other extensions of credit provided by the Federal Reserve System. In addition, the rule would only apply to asset-backed securities that are not backed by commercial real estate.TXT; PDF  10/08/09

The Treasury Publishes Final Rule in FR for Privacy Act Implementation

In accordance with the requirements of the Privacy Act of 1974, as amended, the Department of the Treasury exempts a new Internal Revenue Service (IRS) system of records entitled "Treasury/IRS 50.222--Tax Exempt/Government Entities (TE/GE) Case Management Records" from certain provisions of the Privacy Act.TXT; PDF  10/08/09

Bid for Corus Bank Accepted

The FDIC has signed a bid confirmation letter to sell a 40 percent equity interest in a limited liability company (LLC) created to hold assets of Corus Bank, NA, Chicago, IL. Transaction Details; Diagram  10/08/09

Free Credit Report Rule Amendment Comments Sought

The Federal Trade Commission (FTC) is seeking public comment on proposed amendments to the Free Annual File Disclosures Rule, also known as the "Free Credit Report Rule". Amendment  10/08/09

Consumer Credit Report Released

The FRB has released the G.19 Consumer Credit Report for August, 2009. G.19  10/08/09

Flood Penalties Announced

The FRB announced one civil money penalty (CMP) that was recently assessed for flood violations. Information regarding the penalty has been posted on the Flood Penalties Watch page.  10/07/09

Written Agreement with Puerto Rico BHC

The FRB has announced the execution of a Written Agreement by and between Eurobancshares, Inc., San Juan, PR, a registered bank holding company, and the Federal Reserve Bank of New York. Agreement  10/07/09

VA Issues Emergency Checks

The VA is issuing emergency advance education payments to veterans in the form of checks drawn on U.S. Bank, National Association. Checks  10/07/09

Reserve Position Update

The U.S. International Reserve Position Report has been updated by the Treasury with data current as of October 2, 2009. Report   10/07/09

Credit Auction Results

The Federal Reserve has announced the results of auction of $50 billion in 70-day credit held on October 5, 2009. Results  10/07/09

Financial Reporting Bulletin Published

The September 2009, issue of the Financial Reporting Bulletin has been published by the OTS. Bulletin  10/07/09

CRA Ratings Released

The FDIC has released the ratings received by state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). Ratings  10/06/09

CA Letter Issued Regarding HMDA Examination Procedures

A Consumer Affairs (CA) Letter has been issued by the FRB regarding the recent approval by the FFIEC of Revised Interagency Examination Procedures for the Home Mortgage Disclosure Act (HMDA). CA Letter  10/06/09

Prompt Corrective Action Directive Issued

The FRB has announced the issuance of a consent Prompt Corrective Action Directive against San Joaquin Bank, Bakersfield, CA, a state chartered member bank. Directive   10/06/09

Three PPIFs Closed

The Treasury has announced three additional initial closings of Public-Private Investment Funds (PPIFs) established under the Legacy Securities Public-Private Investment Program (PPIP). Closed  10/06/09

Retired Routing Numbers Procedures Change

The FR Financial Services has announced updated procedures for handling retired routing transit (RT) numbers and new retired RT number return service. RT  10/06/09

TALF Pledged ABS Evaluation Procedures Changed

Changes to procedures for evaluating asset-backed securities (ABS) pledged to the Term Asset-Backed Securities Loan Facility (TALF) have been announced by the Treasury. Proposed Rule; FAQs; Terms; Risk Assessment  10/06/09

MSB List Updated

The FinCEN has updated the MSB Registration List with data current as of September 8, 2009. List  10/06/09

CAC Meeting Announced

The FRB has announced that the Consumer Advisory Council (CAC) will hold its next meeting on Thursday, October 22, 2009, in the Board’s Martin Building, Washington, D.C. The session will begin at 9 a.m. and is open to the public. Meeting  10/06/09

CRA Ratings Released

OTS has released the ratings received by saving associations recently examined for compliance with the provisions of the CRA. Ratings   10/05/09

SDNTs Removed From OFAC List

OFAC has removed the names of three individuals designated as SDNTs from the SDN List. Information regarding the removals has been posted on the OFAC page.  10/05/09

Retired Routing Numbers Procedures Change

FR Financial Services has announced updated procedures for handling retired routing transit (RT) numbers and new retired RT number return service. RT

OFAC CMPs Announced

The civil money penalties (CMPs) recently assessed against individuals and entities for violations of the various OFAC Sanctions Programs have been announced. No financial institutions were cited. CMPs  10/02/09

FDIC Proposes Rulemaking for Prepaid Assessments

Pursuant to Section 7(b) of the Federal Deposit Insurance Act, the FDIC is proposing to amend its assessment regulations to require insured institutions to prepay, on December 30, 2009, their estimated quarterly risk-based assessments for the fourth quarter of 2009, and for all of 2010, 2011, and 2012. The FDIC would begin to offset prepaid assessments on March 30, 2010, representing payment for the fourth quarter of 2009. TXT; PDF  10/02/09

Written Agreement with Washington BHC and Bank

The FRB has announced the execution of a Written Agreement by and among Coastal Financial Corporation, a registered bank holding company, Coastal Community Bank, a state chartered member bank, both of Everett, WA, and the Federal Reserve Bank of San Francisco. Agreement  10/02/09

Paper Check Processing Changes Reminder

The FR Financial Services has issued a reminder that effective October 1, 2009, all paper adjustment cases, adjustments-related correspondence, required documents-to-follow (DTFs), and live items currently sent to the Charlotte Office should be directed to the Cleveland Office. Reminder  10/02/09

Earthquake and Tsunami Relief FIL

A FIL has been issued by the FDIC announcing a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in the territory of American Samoa, where an earthquake, a tsunami and flooding have caused severe property damage and casualties. FIL  10/02/09

Exchange Rate and Structure and Share Data Reports

The FRB has issued the September 2009, G.5 Foreign Exchange Rate and June 2009, Structure and Share Data for U.S. Offices of Foreign Banks reports. G.5; Structure and Share  10/02/09

News from FedACH Published

The third quarter 2009 issue of News from FedACH has been published online. News  10/02/09

Unauthorized Banking Special Alert

The FDIC has issued a Special Alert regarding entities that are neither registered nor licensed to conduct business activities by the Cayman Islands Monetary Authority that may be operating in the Cayman Islands offering banking or other financial services to individuals, businesses or financial institutions located in the United States. Special Alert  10/01/09

OFAC Symposium Announced

OFAC has announced that the first-ever Financial Sector Symposium designed to provide the financial sector with insight and perspective from top OFAC officials on banking and securities will be held in New York City on December 01, 2009. The event is free and registration via email is available. Symposium  10/01/09

2008 HMDA Data

The FFIEC has announced the availability of data on mortgage lending transactions at U.S. financial institutions covered by HMDA. The HMDA data covers 2008 lending activity: applications for loans, loan originations, loan denials, and purchases of loans. A draft of an article in the upcoming Federal Reserve Bulletin presents a number of key findings from an initial review of the 2008 HMDA data. FFIEC PR; Raw Data; FB Draft  10/01/09

Mortgage Metrics Report Released

The OCC and the OTS have released the Mortgage Metrics Report for Second Quarter, 2009. Summary; Report; Field Definitions  10/01/09

Third Quarter 2009 Call Report Information

The FDIC has issued a FIL regarding materials pertain to the Consolidated Reports of Condition and Income (Call Report) for the September 30, 2009, report date. FIL  10/01/09

TIL Examination Procedures CEO Letter Issued

The OTS has issued a CEO Letter regarding the update of OTS examination procedures to address changes in open-end credit disclosure requirements. Letter  10/01/09