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Treasury has announced action against four transnational criminal organizations (TCOs): the Camorra, the Yakuza, the Brothers' Circle, and Mara Salvatrucha (MS-13). New designations include seven members of the Camorra, one of Europe's largest criminal organizations; the Kudo-kai, a violent syndicate within the Japanese Yakuza criminal network along with two of its leaders; an individual known to act on behalf of the Brothers' Circle, a large multi-ethnic Eurasian criminal network; and one member of MS-13, a criminal street gang that operates internationally. These designations were imposed under Executive Order (E.O.) 13581, "Blocking Property of Transnational Criminal Organizations," which targets significant TCOs and individuals or entities determined to have provided material support to, or to be owned or controlled by, or to have acted or purported to act for or on behalf of, such organizations. Information regarding the designations has been posted in a BOL OFAC Update.

An IRS news release has announced that individual taxpayer identification numbers (ITINs) will expire if not used on a federal income tax return for five consecutive years. The new policy applies to any ITIN regardless of when it was issued. To allow for an adjustment period, ITINs will not be deactivated until 2016. Under the former IRS policy, ITINs issued after January 1, 2013, would have automatically expired after five years, even if used properly and regularly by taxpayers.

Treasury has announced action against four transnational criminal organizations (TCOs): the Camorra, the Yakuza, the Brothers' Circle, and Mara Salvatrucha (MS-13). New designations include seven members of the Camorra, one of Europe's largest criminal organizations; the Kudo-kai, a violent syndicate within the Japanese Yakuza criminal network along with two of its leaders; an individual known to act on behalf of the Brothers' Circle, a large multi-ethnic Eurasian criminal network; and one member of MS-13, a criminal street gang that operates internationally. These designations were imposed under Executive Order (E.O.) 13581, "Blocking Property of Transnational Criminal Organizations," which targets significant TCOs and individuals or entities determined to have provided material support to, or to be owned or controlled by, or to have acted or purported to act for or on behalf of, such organizations. Information regarding the designations has been posted in a BOL OFAC Update.

An IRS news release has announced that individual taxpayer identification numbers (ITINs) will expire if not used on a federal income tax return for five consecutive years. The new policy applies to any ITIN regardless of when it was issued. To allow for an adjustment period, ITINs will not be deactivated until 2016. Under the former IRS policy, ITINs issued after January 1, 2013, would have automatically expired after five years, even if used properly and regularly by taxpayers.

The Federal Reserve has announced the execution of a Written Agreement with Turkiye Cumhuriyeti Ziraat Bankasi A.S., Ankara, Turkey and Turkiye Cumhuriyeti Ziraat Bankasi A.S. New York Branch, New York, New York. The Agreement concerns steps the bank will take to address deficiencies relating to the New York Branch's risk management and compliance with applicable federal and state laws, rules, and regulations relating to anti-money laundering compliance, including the Bank Secrecy Act; the rules and regulations issued by the U.S. Department of the Treasury (31 C.F.R. Chapter X); and the requirements of Regulation K of the Board of Governors to report suspicious activity and to maintain an adequate BSA/AML compliance program; and the related regulations of State of New York.

Treasury has issued a press release as a reminder of the July 1, 2014, effective date of the Foreign Account Tax Compliance Act (FATCA). FATCA was enacted in 2010 by Congress to target noncompliance by U.S. citizens of tax obligations through the use of foreign accounts. See Treasury's FATCA Page for more information.

The OCC has released the First Quarter 2014 Report on Bank Trading and Derivatives Activities, which indicates insured U.S. commercial banks and savings associations reported trading revenue of $6.1 billion in the first quarter of 2014, up $3.2 billion, or 108 percent, from $2.9 billion in the fourth quarter of 2013.

Treasury has issued a press release as a reminder of the July 1, 2014, effective date of the Foreign Account Tax Compliance Act (FATCA). FATCA was enacted in 2010 by Congress to target noncompliance by U.S. citizens of tax obligations through the use of foreign accounts. See Treasury's FATCA Page for more information.

The OCC has released the First Quarter 2014 Report on Bank Trading and Derivatives Activities, which indicates insured U.S. commercial banks and savings associations reported trading revenue of $6.1 billion in the first quarter of 2014, up $3.2 billion, or 108 percent, from $2.9 billion in the fourth quarter of 2013.

• Counterfeit Special Alerts Issued

  The FDIC has issued five Special Alerts regarding counterfeit money orders, cashier's checks and official checks bearing the name of the following institutions:

  • KleinBank, Big Lake, Minnesota (Counterfeit Personal Money Orders),
  • Central Bank, Lebanon, Missouri (Counterfeit Cashier's Checks),
  • Merchants and Farmers Bank, Kosciusko, Mississippi (Counterfeit Cashier's Checks),
  • Peoples National Bank, Hallstead, Pennsylvania (Counterfeit Money Orders), and
  • United Community Bank, Lawrenceburg, Indiana (Counterfeit Official Checks).

  In addition, the OCC has issued an Alert regarding counterfeit official checks issued in the name of Harleysville National Bank, Harleysville, Pennsylvania. Information regarding the counterfeit items has been posted on the BOL Alerts & Counterfeits Page.   2/28/07

• Six Individuals added To OFAC List

  Treasury has added to the OFAC SDN List the names of six Belarusian Government officials who played important roles in the oppressive regime of Alexander Lukashenka and were active in the crackdown on civil society and democratic opposition during the March 2006 Presidential elections in Belarus. Information regarding the additions has been posted on the BOL OFAC Page.   2/28/07

• Missing Cashier's Checks Special Alert

  A Special Alert has been issued by the FDIC regarding eighty-four (84) cashier's checks bearing the name of Pacific Western Bank, San Diego, California, that are missing, lost or stolen. Special Alert   2/28/07

• Comments Sought on Insurance Assessments Proposal

  The FDIC has issued a FIL announcing that comments are sought on proposed guidelines for determining how adjustments of up to 0.50 basis points would be made to the quarterly assessment rates of insured institutions defined as large Risk Category I institutions. FIL; Proposal   2/28/07

• Late HMDA Reporting Results in CMPs

  The NCUA has announced that during the fourth quarter of 2006 twenty-two federally insured credit unions were assessed civil money penalties (CMPs)t for being late in submitting 2005 HMDA data. CMP   2/28/07

• 314(a) Fact Sheet and Sharing Report Update

  FinCEN has updated the 314(a) Fact Sheet and the Law Enforcement Information Sharing with Financial Institutions Report with data current as of February 27, 2007. 314(a); Sharing Report    2/28/07

• Winter 2006 Issue FDIC Outlook Published

  The FDIC has published the Winter 2006 issue of the FDIC Outlook provides a quarterly analysis of current national and regional trends that may affect the risk exposure of insured depository institutions. Outlook   2/28/07

• Cayman Islands Updates Unauthorized Banking List

  The FDIC has issued a Special Alert regarding the publication by the Cayman Islands Monetary Authority (CIMA) of a list of financial entities whose Web sites note a Cayman Island address, but the entities are neither registered nor licensed to undertake activities regulated by the CIMA, as of January 31, 2007. Special Alert; List   2/28/07

• FRB Releases Discount Rate Meeting Minutes

  The minutes of the January 29, 2007, meeting of the FRB regarding discount rates ahs been released. Minutes   2/28/07

• Charge-Off and Loan Delinquency Report Issued

  The FRB has issued the Charge-Off and Delinquency Rates on Loans and Leases at Commercial Banks Report for the 4th Quarter 2006. Report   2/28/07

• Dugan Discusses Risk Mamagement

  In a presentation before a meeting of the Global Association of Risk Professionals, the Comptroller Dugan noted that because the goals of bank risk managers are so closely aligned to those of the regulators, the regulations and guidance issued by regulatory agencies can support the managers in meeting their firms' objectives. Speech   2/28/07

• New Markets Tax Credit Program Featured By OCC

  The OCC has published the February 2007 issue of Community Development Insights that features report entitled, "New Markets Tax Credits: Unlocking Investment Potential. The report highlights the key features of the New Markets Tax Credit (NMTC) program and major considerations facing bank investors who use the credits to develop and support community and economic development activities. Insights    2/28/07

• Banking Accounting Advisory Series January 2007 Edition Published

  The OCC has published the January 2007 edition of the Banking Accounting Advisory Series that contains the OCC's current views on accounting topics of interest to national banks. One new topic, Financial Statement Presentation, has been added and questions have been added or revised to other topics previously discussed. Accounting Advisory Series   2/27/07

• IFDP Working Papers Published

  The FRB has published two working papers in the International Finance Discussion Papers (IFDP) series on the topics of "Flying Geese or Sitting Ducks: China's Impact on the Trading Fortunes of other Asian Economies" and "Are Antidumping Duties for Sale? Case-Level Evidence on the Grossman-Helpman Protection for Sale Model". Flying Geese Abstract; Flying Geese Full Paper; Antidumping Abstract; Antidumping Full Paper   2/27/07

• $197,000 Embezzlements Results in Prohibition Order

  The FRB has announced the issuance of a consent Order of Prohibition against a former employee of Civitas BankGroup, Inc., Franklin, Tennessee, for violations of law, unsafe and unsound banking practices, and breaches of fiduciary duty related to the embezzlement of over $197,000. Order   2/26/07

• Fraudulent FDIC Emails Sent To Financial Institutions

  The FDIC has issued a Special Alert regarding emails that are being sent to financial institutions and appear to be from the FDIC or VeriSign, Inc. The emails ask the institutions run a security guard script to secure Web sites. Special Alert    2/23/07

• 23A Exemption Granted

  A letter granting an exemption from section 23A of the Federal Reserve Act for certain covered transactions between a national bank and an affiliate of the bank in connection with the bank's securities lending program has been issued by the FRB. The bank proposed a securities lending program in which the bank would lend to the affiliate securities that have been pledged to bank as collateral by unaffiliated customers. Letter   2/23/07

• Regulators Agree On Hedge Funds Issues Approach

  The President's Working Group on Financial Markets (PWG) has released a set of principles and guidelines to guide U.S. financial regulators as they address public policy issues associated with the rapid growth of private pools of capital, including hedge funds. The PWG is chaired by the Treasury Secretary and composed of the chairmen of the FRB, the SEC, and the Commodity Futures Trading Commission. Guidelines    2/23/07

• FEDS Working Paper Published

  The FRB has published a working paper in the FEDS series on the topic of "Rounding and the Impact of News: A Simple Test of Market Rationality". Abstract; Full Paper   2/23/07

• Fourth Quarter 2006 TRF Data Released

  OTS has released the Aggregated Thrift Financial Report (TFR) Data for the fourth quarter 2006. TRF Data   2/23/07

• FDIC Insured Institutions Report Record Earnings

  The FDIC has issued the Quarterly Banking Profile that indicates commercial banks and savings institutions insured by the agency reported net income of $145.7 billion in 2006, eclipsing the previous record of $133.9 billion set in 2005. Earnings; Quarterly Banking Profile   2/23/07

• 2007 TFR Instruction Manual Published

  OTS has published the 2007 Thrift Financial Report Instruction Manual. Manual   2/22/07

• NCUA Publishes Final Rule in Federal Register for General Lending Maturity Limit and
  Other Financial Services

  NCUA is amending its rules to implement amendments to the Federal Credit Union Act (FCU Act)
  made by the Financial Services Regulatory Relief Act of 2006 (Reg Relief Act). The final rule revises the maturity limit in the general lending rule and permits federal credit unions to provide certain, limited financial services to nonmembers within their fields of membership.TXT, PDF .   2/22/07

• Reserve Position Update

  Treasury has updated the U.S. International Reserve Position report with the addition of data as of February 16, 2007. Reserve Position   2/22/07

• FOMC Minutes Released

  The Federal Open Market Committee of the FRB has released the minutes of its January 30-31, 2007 meeting. Minutes   2/22/07

• Thrift Industry Posts Strong 2006 Earnings

  OTS has reported that OTS-regulated thrifts posted historically strong earnings and profitability in 2006 despite weakening in the fourth quarter from the slowdown in the housing markets. Earnings    2/22/07

• Counterfeit Cashier's Checks Alert

  The OCC has issued an Alert regarding counterfeit cashier's checks issued in the name of The Bank of Napa, N.A., Napa, California. Information concerning the counterfeit cashier's checks has been posted on the BOL Alerts & Counterfeits page.   2/21/07

• SDGT Added To OFAC List

  Treasury has been designated a construction company formed and operated by Hizballah, a Lebanon-based terrorist group, as a SDGT and added it to the SDN List. Information regarding the company has been posted on the BOL OFAC Page.   2/21/07

• Insurance Funds 2006 Financials Released

  The FDIC has released the year-end 2006 financial results for the Deposit Insurance Fund (DIF) and the FSLIC Resolution Fund (FRF). Financials Summary; Annual Report   2/21/07

• CU Conservatorship Announced

  NCUA has announced that the Huron River Area Credit Union, a state-chartered, federally insured credit union serving individuals working primarily in the Ann Arbor, Michigan, area has been placed into conservatorship and is being operated by the agency. Conservatorship   2/21/07

• Seven Working Papers Published

  The FRB has published one working paper in the FEDS series on the topic of Rational Seasonality and six in the IFD series on the following topics:

  • Predicting Sharp Depreciations in Industrial Country Exchange Rates,
  • Changes in Job Quality and Trends in Labor Hours,
  • Measurement Matters for Modeling U.S. Import Prices,
  • International Asset Markets And Real Exchange Rate Volatility,
  • Of Nutters and Doves, and
  • Global Asset Prices and FOMC Announcements.

  Rational Abstract; Rational Full Paper; Predicting Abstract; Predicting Full Paper; Changes Abstract; Changes Full Paper; Measurement Abstract; Measurement Full Paper; International Abstract; International Full Paper; Of Nutters Abstract; OF Nutters Full Paper; Global Abstract; Global Full Paper   2/21/07

• March HOEPA Rates Established

  The Federal Reserve has posted the new reference rates that lenders must use to determine if loans for which applications are received in March 2007 will be subject to HOEPA under the APR trigger test. Use the FRB H.15 to find applicable release that 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. Daily H.15; Weekly H.15.   2/20/07

• Iranian Companies Designated By OFAC

  Three Iranian companies owned or controlled by the Atomic Energy Organization of Iran have been designated as proliferators of weapons of mass destruction by Treasury and added to the OFAC SDN List. Information concerning the companies has been posted on the BOL OFAC page.   2/20/07

• CRA Evaluations Released

  The OCC has released the ratings received by twenty-one national banks that were recently evaluated for compliance with the CRA. Ratings   2/20/07

• DST Change Bulletin Issued

  A Bulletin has been issued by the OCC regarding the risks posed to servers, mainframes, other important systems, and essential computer clock-dependent processes due to the change in the effective dates of daylight savings time (DST). Bulletin   2/20/07

• FR Corrects Article Error Regarding Check Processing

  FRB Financial Services has issued a statement concerning an article that stated that the FR intended to exit the paper check processing business by 2010. The reference to service withdrawal in 2010 regarded the Reserve Banks' plans to transition electronic check payor bank services to Check 21 presentment services by that date. Check Processing   2/20/07

• CRA Direct Mail Program Alert

  The FRB has issued an alert to the public concerning direct mail solicitations directed at homeowners that may be read to indicate that the Federal Reserve endorses or supports the offers contain in the solicitations. The offers that suggest there is a "Community Reinvestment Act (CRA) program" that entitles certain homeowners to cash grants or equity disbursements. Solicitations   2/20/07

• FDIC 2006 Annual Report Online

  The FDIC has posted the agency's 2006 Annual Report on its Web page. Index.   2/20/07

• Enforcement Actions Announced

  The OCC has announced the enforcement actions recently taken against national banks and individuals currently and formerly affiliated with national banks. Enforcement Actions   2/16/07

• Comments Sought on Basel II Proposed Guidance

  The federal bank and thrift regulatory agencies are seeking public comment on three proposed supervisory guidance documents related a previously issued notice of proposed rulemaking on new risk-based capital requirements (known as Basel II) for large, internationally active banking organizations. Comment Request; Proposed Guidance; FRB PR; OCC NR; FDIC PR; OTS PR   2/16/07

• FedFlash February 2007 Issue Published

  FRB Financial Services has announced the publication of the February 15, 2007 issue of FedFlash that contains articles on the new CheckImage Central Web site, improvements to FedACH derived returns functionality, the FedCash cross-shipping reports and custodial inventory program, and new NACHA network administration fees. FedFlash   2/16/07

• December 2007 TIC Data Released

  Treasury has released the Treasury International Capital (TIC) data for December 2006. TIC   2/16/07

• Cost of Funds Reports Published

  OTS has published the historical National Average Cost of Funds Ratio to OTS Regulated, SAIF - Insured Institutions Report. Report   2/16/07

• Industrial Production and Capacity Utilization Report Issued

  The January 2007 G.15 Industrial Production and Capacity Utilization report has been issued by the FRB. G.15    2/16/07

• Finance Companies Report Released

  The FRB has released the G.20 finance companies on owned and managed receivables outstanding and auto loans: terms of credit report. G.20   2/16/07

• Interest Rates Working Paper Published

  A working paper in the FEDS series has been published by the FRB on the topic of Linear Cointegration of Nonlinear Time Series with an Application to Interest Rate Dynamics. Abstract; Full Paper   2/16/07

• FRB Monetary Report Presented to Congress

  FRB Chairman Bernanke has presented the regulator's semiannual Monetary Policy Report to Congress. In testimony before the Senate Committee on Banking, Housing, and Urban Affairs, he noted that the U.S. economy seems likely to expand at a moderate pace this year and next, with growth strengthening somewhat as the drag from housing diminishes. Testimony; Report   2/15/07

• February 2007 OFAC Enforcement Actions Released

  OFAC has released the February 2007 list of enforcement actions taken and civil money penalties (CMP) issued for violations of various Sanctions Programs. No financial institutions were listed. OFAC CMP   2/14/07

• Prohibition Orders Issued

  NCUA has issued orders prohibiting four individuals from participating in the affairs of any federally insured financial institution. Orders   2/14/07

• Missing, Lost, or Stolen Checks Special Alert

  The FDIC has issued a Special Alert regarding 259 CD interest checks that are missing, lost or stolen and bear the name of Independent Bank of Austin, SSB, Austin, Texas. Special Alert   2/14/07

• 314(a) Fact Sheet Update

  FinCEN has updated the 314(a) Fact Sheet with information current as of February 13, 2007 and released new data regarding law enforcement information sharing with financial institutions. Fact Sheet; Information Sharing   2/14/07

• FRB CAC Meeting Scheduled

  The next meeting of the FRB Consumer Advisory Council (CAC) is scheduled for March 8, 2007, in Washington D.C. The meeting is open to the public and registration is required. The Council will discuss the following topics: home mortgage foreclosures, model financial privacy notices, amendments to the Electronic Fund Transfers Act/Regulation E, and check holding practices. Meeting; Registration   2/14/07

• International Reserve Position Update

  Treasury has updated the U. S. International Reserve Position report with the addition of data as of February 9, 2007. Reserve Position   2/14/07

• CIP and Banks Serving as Insurance Agents Guidance Issued

  FinCEN has issued Guidance in the FAQ format regarding Customer Information Programs (CIP) and banks serving as insurance agents. The following question is answered. Is an account established with the bank, for purposes of the bank's Customer Identification Program, when a person purchases insurance through the bank under this arrangement? Guidance   2/13/07

• Counterfeit Cashier's Checks Special Alerts Issued

  The FDIC has issued two Special Alerts regarding counterfeit cashier's checks bearing the names of The Cape Cod Five Cents Savings Bank, Harwich Port, Massachusetts, and Trust One Bank, Memphis, Tennessee. Information concerning the counterfeit cashier's checks has been posted on the BOL Alerts & Counterfeits page.    2/12/07

• Revised SAR and SAR-MSB Electronic Filing Instructions Issued

  FinCEN has issued new general specifications for electronic filing of BSA reports to be followed for electronic filing of all revised SARs and new record specifications for magnetic, electronic media filing and e-filing of SAR-MSBs. BSA Reports; SAR-MSBs    2/12/07

• Blair Discusses AML Issues and Challenges

  In a presentation before the Fourth Puerto Rican Symposium of Anti-Money Laundering, FDIC Chairman Blair reviewed the efforts the FDIC is engaged in to ensure a strong anti-money laundering program across the banking industry without needlessly increasing regulatory burden. She noted banks and financial services providers find themselves on the front lines of the efforts to combat terrorist activities and the difference they can all make in preventing terrorist activity and financial crimes cannot be overstated. Speech   2/12/07

• FDIC Announces Enforcement Decisions

  The list of Enforcement Decisions and Orders for December 2006 announced by the FDIC includes a Civil Money Penalty (CMP) of $800,000.
  Decisions   2/09/07

• Fake E-Mail Special Alert

  The FDIC has issued a Special Alert regarding fraudulent e-mails appearing to be sent from ViewPoint Bank Financial Solutions and the FDIC. The e-mail requests the recipient to register for a code to protect against credit card fraud and describe fictitious relationships between the FDIC and VISA, MasterCard, Yahoo, eBay, Amazon.com, and Half.com. Special Alert   2/09/07

• Counterfeit Check Scams Brochure Published

  The FTC has published a new brochure, Giving the Bounce to Counterfeit Check Scams, which explains common angles used in these scams, the responsibilities of banks and consumers when it comes to counterfeit checks, and advice on how to avoid these increasingly common traps. Brochure   2/09/07

• Consumer Complaint Brochure Available

  OTS has announced the availability of a consumer information brochure on how they can resolve complaints with financial institutions. Consumers are encouraged to try to resolve a problem directly with an institution by contacting senior management or the institution's consumer affairs department. Brochure   2/09/07

• Counterfeit Cashier's Checks and Money Orders Alert Issued

  The OCC has issued an Alert regarding counterfeit cashier's checks and money orders
  issued in the name of Peoples National Bank, Hallstead, Pennsylvania. Information regarding the counterfeit cashier's checks and money orders has been posted on the BOL Alerts & Counterfeits page.   2/08/07

• Early Savings Bond Redemptions Authorized

  Treasury has authorized the early redemption of certain EE and I series savings bonds by savings bond agents serving one or more of the Florida Counties of Lake, Seminole, Sumter, and Volusia recently affected by severe weather. Early Redemptions   2/08/07

• HMDA and CRA Data Collection Reminders Issued

  The FFIEC has issued a reminder of previously announced information that relates to HMDA and CRA data collection for calendar year 2007 that will be reported in 2008. HMDA Reminder; CRA Reminder   2/08/07

• FTC Top Complaints List Published

  The FTC issued its annual report, "Consumer Fraud and Identity Theft Complaint Data" on complaints consumers have filed with the agency. List   2/08/07

• Consumer Credit Report Issued

  The FRB has issued the G.19 Credit Report for December 2006. G.19   2/08/07

• Counterfeit Cashier's Checks Alerts Issued

  The OCC has issued two Alerts regarding counterfeit cashier's checks issued in the name of Stillwater National Bank & Trust Company, Stillwater, Oklahoma, and First National Bank of Gillette, Gillette, Wyoming. Information concerning the counterfeit cashier's checks has been posted on the BOL Alerts & Counterfeits page.   2/07/07

• Names Removed From OFAC List

  Treasury has announced that the names of six individuals with the Columbia anti-narcotics designation have been deleted from the SDN List. Information concerning the deletions has been posted on the BOL OFAC Page.    2/07/07

• Soft Dollar Guidance Bulletin Issued

  The OCC has issued a Bulletin regarding the previously released SEC Guidance concerning the use of commission payments by fiduciaries. Bulletin; Guidance   2/07/07

• Gift Card Consumer Brochure Published

  OTS has published brochure for consumers on the purchase and use of gift cards. Brochure   2/07/07

• Bernanke Discusses Economic Opportunities

  In a presentation before the Greater Omaha Chamber of Commerce, Chairman Bernanke discussed the American idea that all individuals should have the opportunity to succeed on the basis of their own effort, skill, and ingenuity. He noted that three principles seem to be broadly accepted in our society: that economic opportunity should be as widely distributed and as equal as possible; that economic outcomes need not be equal but should be linked to the contributions each person makes to the economy; and that people should receive some insurance against the most adverse economic outcomes, especially those arising from events largely outside the person's control. Speech    2/07/07

• FHC List Updated

  The FRB has updated the list of bank holding companies that have elected as of February 3, 2007, to be treated as a financial holding company (FHC). FHC List   2/07/07

• Katrina Guidance Still In Effect

  The FRB and the FFIEC have issued reminders to financial institutions that the previously issued interagency Hurricane Katrina guidance remains in effect and there are borrowers who may need additional time to resolve financial uncertainties related to the effects of the hurricane. FRB SR; FFIEC PR; Katrina Guidance   2/06/07

• OCC Licensing Manual Updated

  The OCC has announced that its Licensing Manual has been updated with a revision to the Change in Bank Control booklet that discusses rebuttals of control and acting in concert filings. The revised booklet is available online. Booklet   2/06/07

• January 2007 Senior Loan Officer Opinion Survey Results

  The results of the January 2007 Senior Loan Officer Opinion Survey on Bank Lending Practices has been published by the FRB. The survey contained special questions about changes in terms on commercial real estate loans during 2006, the effects of the 2005 bankruptcy reforms, and expected changes in asset quality over 2007. Summary; Full Report   2/06/07

• Winter Issue FDIC Consumer News Published

  The FDIC has published and posted online the Winter 2006/2007 issue of the Consumer News. The issue focuses on ways consumers can be prepared, be informed, and be in charge. Summary; Winter Consumer News   2/06/07

• Directo a Mexico Seminars Announced

  The Federal Reserve Banks, Banco de México and Bansefi are hosting two teleseminars on March 13 and 19, 2007, to provide information to credit unions about the Directo a México service and the new Beneficiary Account Registration (BAR) Web site. Seminar Information; Registration   2/06/07

• 2008 Blue Book Released

  The General Explanations of the Administration's Fiscal Year 2008 Revenue Proposals, also known as the Blue Book, has been released by Treasury. Blue Book   2/06/07

• Reserve Position Updated

  Treasury has updated the U.S. International Reserve Position report with the addition of data current as February 2, 2007. Reserve Position    2/06/07

• Daylight-Savings Time Changes Impact FR Banks

  New starting and ending dates for daylight-saving time will go into effect this year. The FRB recommends that all computers used to connect to the Federal Reserve Banks be upgraded with operating system patches provided by vendors. Daylight-Savings   2/05/07

• Spanish Online EDIE Available

  The FDIC has issued a FIL announcing that a Spanish language version of its Electronic Deposit Insurance Estimator for consumers, also known as Online EDIE, is available. FIL; Spanish EDIE   2/05/07

• Savings Bank Deposits Assumed

  The FDIC has announced that Metropolitan Savings Bank, Pittsburgh, Pennsylvania, has been closed and its insured deposits have been assumed by Allegheny Valley Bank of Pittsburgh, Pittsburgh, Pennsylvania. Information for depositors has been posted online. Assumption; Closing Information   2/05/07

• FDIC publishes notice of proposed rulemaking for Industrial Bank Subsidiaries of Financial Companies

  The FDIC is proposed rules that would impose certain conditions and requirements on each deposit insurance application approval and non-objection to a change in control notice that would
  result in an insured industrial loan company or industrial bank becoming a subsidiary of a company that is engaged solely in financial activities and that is not subject to consolidated bank supervision by the Federal Reserve Board or the Office of Thrift Supervision.TXT, PDF    2/05/07

• Treasury Releases Quarterly Economic Update

  The quarterly economic update has been released by Treasury. The report indicates that GDP growth in the fourth quarter was 3.5 percent and inflation was moderate at 1.5 percent. Update   2/05/07

• FR Bulletin Statistical Supplement Published

  The January 2007 statistical supplement to the Federal Reserve Bulletin has been published. SupplementTXT, PDF    2/05/07

• Fourth Quarter Price Tables Released

  OTS has released the asset and liability price table for the fourth quarter 2006. Price Tables   2/05/07

• Seven Counterfeit Checks Special Alerts Issued

  The FDIC has issued six Special Alerts regarding counterfeit cashier's checks and one regarding counterfeit checks bearing the names of the following institutions:

  • Pinnacle Bank - Wyoming, Torrington, Wyoming (Counterfeit Cashier's Checks),
  • Bank of Clarkson, Clarkson, Kentucky (Counterfeit Cashier's Checks),
  • Ridgewood Savings Bank, New York, New York (Counterfeit Cashier's Checks),
  • Indiana First Savings Bank, doing business as Indiana First Bank, Indiana, Pennsylvania (Counterfeit Checks),
  • State Bank of Alcester, Alcester, South Dakota (Counterfeit Cashier's Checks),
  • Liberty Bank of Arkansas, Jonesboro, Arkansas (Counterfeit Cashier's Checks), and
  • River Valley Financial Bank, Madison, Indiana (Counterfeit Cashier's Checks).

  Information concerning the counterfeit checks has been posted on the BOL Alerts & Counterfeits page.   2/02/07

• Prohibition Order Issued

  The FRB has announced the issuance of an Order of Prohibition against Perry D. Lane, former president, chief executive officer and director of Exchange Bank of Missouri, Fayette, Missouri. The Order was based on Mr. Lane's alleged participation in violations of law, unsafe and unsound banking practices, and breaches of fiduciary duty in connection with reports to the bank's management and board of directors of the delinquency status and other information concerning borrower's loans, and other actions related to loan documentation, property appraisals, and loan purpose statements. Order   2/02/07

• CRA Ratings Announced

  OTS has announced the ratings received by savings associations that were recently evaluated for compliance with the CRA. Ratings    2/02/07

• Amendment To Operating Circular Clarifies New Coin Public Release Dates

  The FRB has announced a revision to OC-2 to address the pre-release of new and special coin. A new section 5.8 states that depository institutions are prohibited from releasing such coin to customers or the public prior to the official release date, but may distribute the coin within their institution, to their cash vaults and to their respondent banks. OC-2   2/02/07

• New Routing Numbers Announced

  FRB Financial Services has announced new routing numbers that have been added to the Reserve Banks' FedReceipt forward collection product. Routing Numbers   2/02/07

• Foreign Exchange Rates Report Released

  The G.5 Foreign Exchange Rates Report for January 2007 has been released by the FRB. G.5   2/02/07

• Monetary Aggregates Working Paper Published

  The FRB has published a working paper in the Finance and Economics Discussion Series (FEDS) on the topic of "Measurement of Monetary Aggregates across Countries". Abstract; Full Paper    2/02/07

• January FedFocus Online

  The January 2007 issue of FedFocus has been posted online. The issue features the outlook or 2007 and building customer-focused solutions. FedFocus   2/02/07

• February FedFlash Published

  The February 1, 2007 issue of FedFlash features articles on: ordering savings bond forms online, the ordering process for the new $1 Washington coin, the update of the Check Adjustment CIPS requirements, and the amendment of Operating Circular 2. FedFlash   2/02/07

• ILC Moratorium Extended

  The FDIC Board of Directors have voted to continue for one year a moratorium on applications for deposit insurance and change in control notices for industrial loan companies (ILCs) that will be owned by commercial companies. The Board also issued for public comment a proposed rule to strengthen the framework for consideration of applications or notices for industrial banks owned by financial companies not subject to federal consolidated bank supervision.
  Extension; Moratorium; Proposed Rule   2/01/07

• Fed Funds Rate Unchanged

  The Federal Open Market Committee (FOMC) has decided to keep its target for the federal funds rate at 5-1/4 percent. FOMC   2/01/07

• New Electronic Interpretations and Actions Announced

  The OCC has announced the new electronic interpretations and actions report for January 2007. Report   2/01/07

• Access Across America Summit Registration Information

  NCUA has announced that registrations are now being accepted for its Access America. Summit Information; Registration   2/01/07