District Circular Letters

The Federal Reserve Bank of San Francisco uses circular letters to communicate new policies and announcements to institutions in the Twelfth Federal Reserve District.

  • Agencies Reopen Comment Period on Swap Margin and Capital Proposed Rulemaking

    Five federal agencies on September 26, 2012, reopened the comment period on a proposed rule to establish margin and capital requirements for swap dealers, major swap participants, security-based swap dealers, and major security-based swap participants for which one of the agencies is the prudential regulator, as required by sections 731 and 764 of the Dodd-Frank […]

  • CFPB Provides Guidance and Plans Outreach on Complying with Remittance Rule

    On September 26, 2012, the Consumer Financial Protection Bureau (CFPB) posted information on its website regarding the rule to implement consumer protections created by the Dodd-Frank Act for certain electronic transfers for funds to other countries – the remittance rule – the rule goes into effect on February 7, 2013. Specifically, the CFPB is undertaking […]

  • FFIEC Releases HMDA Data and Guidance on Fair Lending Risk Management

    On September 18, 2012, the Federal Financial Institutions Examination Council (FFIEC) announced the availability of data on mortgage lending transactions at 7,632 U.S. financial institutions covered by the Home Mortgage Disclosure Act (HMDA). Covered institutions include banks, savings associations, credit unions, and mortgage companies. The HMDA data made availability in this release cover 2011 lending […]

  • Agencies Release a Regulatory Capital Estimation Tool to Assist in Assessing the Potential Effects of Recently Proposed Regulatory Capital Rules

    The federal banking regulatory agencies on September 4, 2012, announced the availability of a regulatory capital estimation tool to help community banking organizations and other interested parties evaluate recently published regulatory capital proposals. The tool will assist these organizations in estimating the potential effects on their capital ratios of the agencies' Basel III Notice of […]

  • Federal Reserve announces results of auction of $3 billion in 28-day term deposits held on September 10, 2012

    On September 10, 2012, the Federal Reserve conducted an auction of $3 billion in 28-day term deposits through its Term Deposit Facility.

  • Federal Reserve offers $3 billion in 28-day term deposits through its Term Deposit Facility

    On Monday, September 10, 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.

  • Election of Directors Nomination Procedures

    The Federal Reserve Bank of San Francisco will conduct an election under the provisions of Section 4 of theFederal Reserve Act to choose successors to the following directors of this Bank, whose terms expire on December 31, 2012:

  • Credit Risk in the Shared National Credit Portfolio Declines, but Remains High

    The credit quality of large loan commitments owned by U.S. banking organizations, foreign banking organizations (FBOs), and nonbanks improved in 2012 for the third consecutive year, according to the Shared National Credits (SNC) Review for 2012. A loan commitment is the obligation of a lender to make loans or issue letters of credit pursuant to […]

  • Consumer Financial Protection Bureau (CFPB) Proposes Rules to Improve Consumer Access to Appraisal Reports

    On August 15, 2012, the CFPB issued a proposal to amend Regulation B, which implements the Equal Credit Opportunity Act (ECOA), and the official interpretation to the regulation, which interprets the requirements of Regulation B. The proposed revisions would implement an ECOA amendment concerning appraisals that was enacted as part of the Dodd-Frank Wall Street […]

  • Consumer Financial Protection Bureau (CFPB) Proposes Mortgage Loan Originator Rules

    On August 17, 2012, the CFPB published for public comment proposed rules governing mortgage loan originations. The proposed rules would amend Regulation Z to implement amendments to the Truth in Lending Act (TILA) made by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). The comment period for the proposed rules ends on […]