District Circular Letters

On January 14, 2013, the Federal Reserve conducted an auction of $3 billion in 28-day term deposits through its Term Deposit Facility.

On Monday, January 14th, 2013, the Federal Reserve will offer $3 billion in 28-day term deposits though its Term Deposit Facility. As noted in the Federal Reserve Board’s September 8, 2010 release, this offering is part of ongoing small-value operations designed to provide eligible institutions with an opportunity to become familiar with term deposit operations.

This letter includes two updates to existing consumer protections laws and regulations concerning ATM Fee Notices and the HMDA Asset Size Exemption Threshold.

On December 21, 2012, the Consumer Financial Protection Bureau (CFPB) issued proposed revisions to their international remittance rule, including a proposal to extend the implementation period until 90 days after it issues a revised final rule. The proposal builds on a final rule on international money transfers that was published by the CFPB on February […]

On December 19, 2012, the federal banking regulatory agencies announced the annual adjustment to the asset-size thresholds used to define small bank, small savings association, intermediate small bank, and intermediate small savings association under the Community Reinvestment Act (CRA) regulations. The annual adjustments are required by the CRA rules. Financial institutions are evaluated under different […]

Applicability to Community Banking Organizations: This guidance does not apply to community banking organizations, defined as institutions supervised by the Federal Reserve with total consolidated assets of $10 billion or less.

On December 14, 2012, The Federal Reserve Board proposed rules to strengthen the oversight of U.S. operations of foreign banks. The proposal would require foreign banking organizations with a significant U.S. presence to create an intermediate holding company over their U.S. subsidiaries, which would help facilitate consistent and enhanced supervision and regulation of the U.S. […]

The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency (collectively, the agencies), in conjunction with the Conference of State Bank Supervisors, have issued the attached guidance to explain the procedures that the agencies will follow to implement section 612 of the […]

The Federal Reserve Bank of San Francisco, acting under delegated authority, has approved the application of Silvergate Bank, La Jolla, California, for membership in the Federal Reserve System.

The Federal Reserve is issuing this letter to advise state member banks that effective January 1, 2013, they may no longer rely solely on credit ratings issued by nationally recognized statistical rating organizations (external credit ratings) to determine whether a particular security is an “investment security” that is permissible for investment by a state member […]