District Circular Letters

On July 16, 2012, the Federal Reserve conducted an auction of $3 billion in 28-day term deposits through its Term Deposit Facility.

The Federal Reserve is issuing this guidance to emphasize the importance of appropriate risk management practices and controls in connection with a decision not to complete foreclosure proceedings after they have been initiated (a situation referred to in this guidance as an abandoned foreclosure). This guidance applies to state member banks, bank holding companies and […]

On Monday, July 16, 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 Task Force on Consumer Compliance of the Federal Financial Institutions Examination Council recently approved the attached revised Fair Credit Reporting Act (FCRA) examination module. This revised FCRA examination module supersedes the examination module transmitted with CA Letter 10-14.

On June 28, 2012, the Consumer Financial Protection Bureau (CFPB or Bureau) published a report on the reverse mortgage market. The report, a requirement of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), identified a number of findings and concerns.

This letter conveys various questions and answers regarding the management of OREO by institutions regulated by the Federal Reserve. During the recent financial crisis, financial institutions have experienced a rise in OREO caused by general weaknesses in the housing market, including increases in delinquencies and defaults, house price declines, and weaknesses in the structure of […]

On June 29, 2012, the federal bank and thrift regulatory agencies announced the availability of the 2012 list of distressed or underserved nonmetropolitan middle-income geographies where revitalization or stabilization activities will receive Community Reinvestment Act (CRA) consideration as “community development.”

On June 29, 2012, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency issued the host state loan-to-deposit ratios that the banking agencies will use to determine compliance with section 109 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of […]

The Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve Board on June 29, 2012 announced the process for receiving and evaluating the initial resolution plans–also known as living wills–from the largest banking organizations operating in the United States.

The Office of the Comptroller of the Currency and the Federal Reserve Board on June 21, 2012 released guidance that will be used in determining the compensation or other remedy that borrowers will receive for financial injury identified during the Independent Foreclosure Review.