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.
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Regulators Issue Statement to Assist Financial Institutions and Customers Affected by the Deepwater Horizon Oil Spill
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.
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Banking Agencies Issue Host State Loan-to-Deposit Ratios
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 […]
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Federal Reserve to Implement Changes to Payment System Risk Policy in Early 2011
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 […]
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Federal Reserve, OCC, OTS, FDIC Issue Final Guidance on Incentive Compensation
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 […]
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Federal Reserve Announces Discussion Topics for Public Hearings on Home Mortgage Disclosure Act
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 […]
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Agencies Announce Public Hearings on Community Reinvestment Act Regulations
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.
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Agencies Propose to Expand Scope of Community Reinvestment Act Regulations
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 […]
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Consumer Advisory Council Appointment
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.
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Federal Reserve Announces Final Rules to Protect Credit Card Users from Certain Practices
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.
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Federal Reserve Announces Schedule for Small-Value Auctions of Term Deposits through the Term Deposit Facility
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.