District Circular Letters

The federal financial regulatory agencies and the Conference of State Bank Supervisors (the regulators) issued a statement on July 14, 2010 to assist financial institutions and their customers affected by the Deepwater Horizon Mobile Offshore Drilling Unit explosion and oil spill in the Gulf of Mexico.

The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency issued on June 24, 2010 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 Reserve Board announced on June 28, 2010 that it will implement changes to its Payment System Risk (PSR) policy in early 2011. A specific implementation date will be announced at least 90 days in advance. In December 2008, the Board adopted revisions to the policy and said that the Federal Reserve would implement […]

The Federal Reserve, the Office of the Comptroller of the Currency (OCC), the Office of Thrift Supervision (OTS), and the Federal Deposit Insurance Corporation (FDIC) issued final guidance on June 21, 2010 to ensure that incentive compensation arrangements at financial organizations take into account risk and are consistent with safe and sound practices. The guidance […]

The Federal Reserve Board announced on June 17, 2010 the discussion topics for its upcoming public hearings on potential revisions to Regulation C, which implements the Home Mortgage Disclosure Act (HMDA). Members of the Board's Consumer Advisory Council (CAC), who represent consumer and community organizations, the financial services industry, academic institutions, and state agencies, will […]

The federal bank and thrift regulatory agencies announced on June 17, 2010 a series of upcoming public hearings on modernizing the regulations that implement the Community Reinvestment Act (CRA). Interested parties are invited to provide testimony and written comments.

The federal bank and thrift regulatory agencies announced on June 17, 2010 a proposed change to the Community Reinvestment Act (CRA) regulations to support stabilization of communities affected by high foreclosure levels. The proposed change specifically would encourage depository institutions to support the Neighborhood Stabilization Program (NSP) administered by the U.S. Department of Housing and […]

The Federal Reserve Board has named Maeve Elise Brown, Executive Director of Housing and Economic Rights Advocates (HERA) in Oakland, California, to fill a vacancy on its Consumer Advisory Council.

The Federal Reserve Board approved a final rule on June 15, 2010 to protect credit card users from unreasonable late payment and other penalty fees and to require credit card issuers to reconsider interest rate increases imposed since the beginning of last year.

The Federal Reserve has scheduled three small-value auctions of term deposits through its Term Deposit Facility (TDF) over the next two months. These auctions are a matter of prudent planning and have no implications for the near-term conduct of monetary policy.