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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Tool for Calculating Capital Requirements Using the Simplified Supervisory Formula Approach
Federal Reserve Bank of San Francisco
On February 13, 2015, the Board of Governors of the Federal Reserve System (the Board) issued SR letter 15-4, Tool for Calculating Capital Requirements Using the Simplified Supervisory Formula Approach.
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Guidance on Private Student Loans with Graduated Repayment Terms at Origination
Federal Reserve Bank of San Francisco
On January 29, 2015, the Federal Reserve, the Consumer Financial Protection Bureau, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Office of the Comptroller of the Currency, in conjunction with the State Liaison Committee (SLC) of the Federal Financial Institutions Examination Council, issued guidance to provide principles that financial institutions should consider in their policies and procedures for originating private student loans with graduated repayment terms.
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Amendments to the TILA-RESPA Integrated Mortgage Disclosures Rule
Federal Reserve Bank of San Francisco
On January 20, 2014, the Consumer Financial Protection (CFPB) finalized two minor modifications to the 2013 Truth in Lending Act (TILA)-Real Estate Settlement Procedures Act (RESPA) Integrated Disclosures Rule, which goes into effect on August 1, 2015.
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New Member Bank: Western Alliance Bank
Federal Reserve Bank of San Francisco
The Federal Reserve Bank of San Francisco, acting under delegated authority, has approved the application of Western Alliance Bank, Phoenix, Arizona, for membership in the Federal Reserve System.
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Truth in Lending Act (Regulation Z) Adjustment to the Asset-Size Exemption Threshold for Higher-Priced Mortgage Loans
Federal Reserve Bank of San Francisco
On December 29, 2014, the Consumer Financial Protection Bureau (CFPB) amended the official commentary that interprets the requirements of Regulation Z (Truth in Lending Act) to reflect a change in the asset-size threshold for certain creditors to qualify for an exemption to the requirement to establish an escrow account for a higher-priced mortgage loan.
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Annual CRA Asset-Size Threshold Adjustments for Small and Intermediate Small Institutions
Federal Reserve Bank of San Francisco
On December 19, 2014, the federal bank regulatory agencies announced the annual adjustment to the asset-size thresholds used to define small bank, small savings association, intermediate small bank, and intermediate small savings association under the Community Reinvestment Act (CRA) regulations.
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Adjustment to the Appraisals for Higher-Priced Mortgage Loans Exemption Threshold
Federal Reserve Bank of San Francisco
On December 23, 2014, the Federal Reserve Board announced the annual adjustment of the dollar amount used to determine whether a small loan is exempt from the special appraisal requirements that apply to higher-priced mortgage loans.
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CFPB Guidance on Social Security Disability Income Verification
Federal Reserve Bank of San Francisco
On November 18, 2014, the Consumer Financial Protection (CFPB) issued CFPB Bulletin 2014-03 to remind creditors of: (1) their obligations under the Equal Credit Opportunity Act (ECOA) and its implementing regulation, Regulation B, with respect to consideration of public assistance income; and (2) relevant standards and guidelines regarding verification of Social Security Disability Insurance (SSDI) and Supplemental Social Security Income (SSI) (collectively, Social Security disability income) received by mortgage applicants.
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Incorporating Federal Reserve Policies into the SLHC Supervision Program
Federal Reserve Bank of San Francisco
On November 7, 2014, the Federal Reserve System issued Supervision and Regulation letter 14-9, “Incorporation of Federal Reserve Policies into the Savings and Loan Holding Company (SLHC) Supervision Program.”
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Release of the 2014 FFIEC BSA/AML Examination Manual
Federal Reserve Bank of San Francisco
On December 2, 2014, the Board of Governors of the Federal Reserve System issued Supervision and Regulation letter 14-10, “Release of the 2014 Federal Financial Institutions Examination Council’s Bank Secrecy Act/Anti-Money Laundering Examination Manual.”