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.
-
Annual Adjustment of Dollar Threshold for Exempt Consumer Credit and Lease Transactions
The Federal Reserve Board on June 13, 2011 adjusted Regulation Z (Truth in Lending) and Regulation M (Consumer Leasing) by increasing the dollar threshold for exempt consumer credit and lease transactions. Transactions at or below the threshold are subject to the protections of the regulations. These adjustments reflect the annual percentage increase in the consumer […]
-
Federal Reserve Proposes Rules Under Regulation B to Clarify Data Collection Compliance Requirements for Motor Vehicle Dealers
The Federal Reserve Board on June 20, 2011 issued a proposed rule under Regulation B to clarify that motor vehicle dealers temporarily are not required to comply with certain data collection requirements in the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) until the Board issues final regulations to implement the statutory requirements. […]
-
Annual Adjustment of Fee-Based Trigger for Additional Mortgage Loan Disclosures
The Federal Reserve Board on June 13, 2011 published its annual adjustment to the amount of fees that triggers additional disclosure requirements under the Truth in Lending Act and the Home Ownership and Equity Protection Act of 1994 for home mortgage loans that bear rates or fees above a certain amount.
-
Federal Reserve Seeks Comment on Annual Capital Plan Reviews
The Federal Reserve Board is seeking comment on a proposal to require top-tier U.S. bank holding companies with total consolidated assets of $50 billion or greater to submit annual capital plans for review.
-
Agencies Seek Comment on Stress Testing Guidance
The Federal Reserve Board, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation are seeking comment on proposed supervisory guidance regarding stress-testing practices at banking organizations with total consolidated assets of more than $10 billion.
-
Federal Reserve Announces Results of Auction of $5 Billion in 28-day Term Deposits Held on May 31, 2011
Six federal agencies are seeking comment on a proposed rule that would require sponsors of asset-backed securities (ABS) to retain at least 5 percent of the credit risk of the assets underlying the securities and would not permit sponsors to transfer or hedge that credit risk.
-
Agencies Extend Comment Period on Risk Retention Proposal
Six federal agencies have approved and will submit a Federal Register notice that extends the comment period on the proposed rules to implement the credit risk retention requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The comment period was extended to August 1, 2011, to allow interested persons more time to analyze […]
-
Deposit Insurance Notice Requirement Regarding the Payment of Interest on Demand Deposit Accounts
On November 9, 2010, the FDIC’s Board of Directors issued a final rule implementing section 343 of the Dodd-Frank Act (see FIL-76-2010). Section 343 of the Dodd-Frank Act provides unlimited insurance coverage for noninterest-bearing transaction accounts at all insured depository institutions (IDIs) from December 31, 2010 through December 31, 2012. The final rule imposes certain […]
-
Agencies Release List of Distressed or Underserved Nonmetropolitan Middle-Income Geographies
The federal bank and thrift regulatory agencies announced on June 1, 2011 the availability of the 2011 list of distressed or underserved nonmetropolitan middle-income geographies where revitalization or stabilization activities will receive Community Reinvestment Act (CRA) consideration as ’’community development.’’
-
The Federal Reserve Bank of San Francisco, acting under delegated authority, has approved the application of Westamerica Bank, San Rafael, California, for membership in the Federal Reserve System.
The Federal Reserve Bank of San Francisco, acting under delegated authority, has approved the application of Westamerica Bank, San Rafael, California, for membership in the Federal Reserve System. Westamerica Bank, which is in our San Francisco zone, will retain ABA transit number 121140218 and the encoded routing symbol 90-4021 / 1211.