District Circular Letters

On Tuesday, May 31, 2011 the Federal Reserve will offer $5 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 and Office of the Comptroller of the Currency (OCC) have issued the attached Supervisory Guidance on Model Risk Management, which is intended for use by banking organizations and supervisors as they assess organizations’ management of model risk. This guidance should be applied as appropriate to all banking organizations supervised by the Federal […]

The Federal Reserve Board on May 12, 2011 requested public comment on a proposed rule that would create new protections for consumers who send remittance transfers to recipients located in a foreign country. The proposed rule would require that remittance transfer providers make certain disclosures to senders of remittance transfers, including information about fees and […]

The Federal Reserve, together with the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency, the Office of Thrift Supervision, and the State Liaison Committee of the Federal Financial Institutions Examination Council, has issued the attached interagency statement entitled Reorganization of FinCEN’s Bank Secrecy Act Regulations.

An Interagency1 Advisory has been issued to supplement SR letter 04-10, “Banking Accounts for Foreign Governments, Embassies, and Political Figures.” The supplemental advisory provides information to financial institutions regarding the provision of account services to foreign missions in a manner that fulfills the needs of those foreign governments while complying with the provisions of the […]

The Federal Reserve, together with the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency (collectively, the Agencies), have issued a Spanish-language translation of the Federal Financial Institutions Examination Council’s (FFIEC) Bank Secrecy Act/Anti-Money Laundering Examination Manual (manual). The Spanish version is based on the most recent version of the manual […]

Large, systemically significant bank holding companies and nonbank financial companies would be required to submit annual resolution plans and quarterly credit exposure reports under a rule proposed by the Federal Reserve Board and the Federal Deposit Insurance Corporation.

Five federal agencies are seeking comment 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 as required by the Dodd-Frank Wall Street Reform and Consumer Protection Act.

The Federal Reserve Board on April 19, 2011 requested public comment on a proposed rule under Regulation Z that would require creditors to determine a consumers ability to repay a mortgage before making the loan and would establish minimum mortgage underwriting standards.

The Federal Reserve Board on April 6, 2011 requested comment on a proposed rule to repeal the Board's Regulation Q, which prohibits the payment of interest on demand deposits by institutions that are member banks of the Federal Reserve System. The proposed rule would implement Section 627 of the Dodd-Frank Wall Street Reform and Consumer […]