District Circular Letters

On November 5, 2012, the Federal Reserve conducted an auction of $3 billion in 28-day term deposits through its Term Deposit Facility.

The October 2012 Senior Loan Officer Opinion Survey on Bank Lending Practices addressed changes in the supply of, and demand for, bank loans to businesses and households over the past three months. This summary is based on responses from 68 domestic banks and 23 U.S. branches and agencies of foreign banks.

On November 5, 2012, the FDIC issued FIL-45-2012, Notice of Expiration: Temporary Unlimited Coverage for Noninterest-Bearing Transaction Accounts. As explained in the FIL, section 343 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) provides separate, unlimited deposit insurance coverage for noninterest-bearing transaction accounts (NIBTAs), including Interest on Lawyer Trust Accounts; however, […]

On Monday, November 5, 2012, the Federal Reserve will offer $3 billion in 28-day term deposits through 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.

The Federal Reserve Board on October 25, 2012, announced the annual indexing of the reserve requirement exemption amount and of the low reserve tranche for 2013. These amounts are used in the calculation of reserve requirements of depository institutions. The Board also announced the annual indexing of the nonexempt deposit cutoff level and the reduced […]

On October 26, 2012, The Federal Reserve Board announced a five-month delay in the implementation of the second phase of its program to simplify the administration of reserve requirements. The delay will allow for further development and testing of automated systems to ensure a smooth transition for affected institutions.

In accordance with the provisions of Section 4 of the Federal Reserve Act and the announcement dated September 6, 2012, the Federal Reserve Bank of San Francisco is conducting an election of directors to succeed Mr. Kenneth A. Wilcox, a Class A director, elected by banks in Group One, and Mr. Blake W. Nordstrom, a […]

On October 16, 2012, The Federal Financial Institutions Examination Council1 (“FFIEC”) issued a statement to assist financial institutions and their customers (members, in the case of credit unions) affected by severe drought conditions across much of the Midwest and southern portions of the United States. As a result of the 2012 drought, crop yields have […]

On August 17, 2012, the Consumer Financial Protection Bureau (CFPB) issued a proposal to amend Regulation Z, which implements the Truth in Lending Act (TILA) and the official interpretation to the regulation, which interprets the requirements of Regulation Z. Regulation Z generally prohibits a card issuer from opening a credit card account for a consumer, […]

The Federal Reserve Board on October 9, 2012, published two final rules with stress testing requirements for certain bank holding companies, state member banks, and savings and loan holding companies. The final rules implement sections 165(i)(1) and (i)(2) of the Dodd-Frank Wall Street Reform and Consumer Protection Act that require supervisory and company-run stress tests. […]