By Fed Newswire | Jul 14, 2011
News Release: The Federal Reserve Board on Thursday announced the approval of a final rule to repeal its Regulation Q, which prohibits the payment of interest on demand deposits by institutions that are member banks of the Federal Reserve System.
By Fed Newswire | Jul 13, 2011
News Release: The Federal Reserve Board on Wednesday announced its approval of the proposal by Comerica Incorporated, Dallas, Texas, to acquire Sterling Bancshares, Inc. and its subsidiary bank, Sterling Bank, both of Houston Texas.
By Fed Newswire | Jul 12, 2011
News Release: The Federal Reserve Board and the Federal Open Market Committee on Tuesday released the attached minutes of the Committee meeting held on June 21-22, 2011. A summary of economic projections made by Federal Reserve Board members and Reserve Bank presidents for the June 21-22, 2011 meeting is also included as an addendum to these minutes.
By Fed Newswire | Jul 12, 2011
News Release: The Federal Reserve Board on Tuesday announced the execution of the following enforcement actions: First of Huron Corp. (60 KB PDF), Bad Axe, Michigan Written Agreement dated July 7, 2011 Greer Bancshares Incorporated (60 KB PDF), Greer, South Carolina Written Agreement dated July 7, 2011 Search of Federal Reserve enforcement actions. For media inquiries, call 202-452-2955.
By Fed Newswire | Jul 12, 2011
News Release: The Federal Reserve Board on Tuesday published lists of institutions that are subject to, and exempt from, the debit card interchange fee standards in Regulation II, which implements provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act. These lists, available at www.federalreserve.gov/paymentsystems/debitfees.htm, ...
By Fed Newswire | Jul 7, 2011
News Release: The Federal Reserve Board on Thursday announced the appointment of David W. Wilcox as director of the Division of Research and Statistics, effective October 1. Wilcox, currently the deputy director of the division, will succeed David J. Stockton, who will retire on September 30 after 30 years of service with the Board, including 11 as division director.
By Fed Newswire | Jul 7, 2011
News Release: The Federal Reserve Board on Thursday announced the execution of a Written Agreement by and between JPMorgan Chase & Co., New York, New York, a registered bank holding company, and the Federal Reserve Bank of New York. The agreement addresses issues associated with anti-competitive activities at JPMorgan ...
By Fed Newswire | Jul 7, 2011
News Release: The Federal Reserve Board on Thursday announced the execution of the following enforcement actions: Bank of the Commonwealth (14 KB PDF), Norfolk, Virginia Prompt Corrective Action Directive dated July 1, 2011 FirstFed Bancorp, Inc. Employee Stock Ownership Plan and FirstFed Bancorp, Inc. (18 KB PDF), ...
By Fed Newswire | Jul 7, 2011
News Release: The Federal Reserve Board on Thursday released a report that contains 2010 payment and account information about more than 1,000 agreements between institutions of higher education or affiliated organizations and credit card issuers. The Board also updated an online database that includes the full text of each agreement that was in effect during 2010.
By Fed Newswire | Jul 6, 2011
News Release: The Federal Reserve Board (Board) and the Federal Trade Commission (FTC) on Wednesday issued final rules to implement the credit score disclosure requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act. If a credit score is used in setting material terms of credit or in taking adverse action, the statute requires creditors to disclose credit scores and related information to consumers in notices under the Fair Credit Reporting Act (FCRA).
By Fed Newswire | Jul 5, 2011
News Release: The Federal Reserve Board on Tuesday announced the execution of the following enforcement actions: Belt Valley Bank (PDF), Belt, Montana Written Agreement dated June 30, 2011 First National Bank Group, Inc. (PDF), Edinburg, Texas Written Agreement dated June 29, 2011 Virginia Community Bankshares, Inc. and Virginia Community Bank (PDF), both of Louisa, Virginia Written Agreement dated June 29, 2011 Search of Federal Reserve enforcement actions.
By Fed Newswire | Jul 5, 2011
News Release: The federal bank regulatory agencies today issued guidance to help ensure banking organizations practice effective counterparty credit risk (CCR) management. The guidance, issued by the Federal Reserve Board, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the Office of Thrift Supervision, builds on existing supervisory guidance and outlines effective industry practices for CCR management.
By Fed Newswire | Jun 30, 2011
News Release: The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency today issued 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 1994. These ratios update data released on June 24, 2010.
By Fed Newswire | Jun 30, 2011
News Release: Mark Bialek has been appointed inspector general of the Board of Governors of the Federal Reserve System and the Bureau of Consumer Financial Protection, effective July 25. He will lead the Office of Inspector General staff in promoting the economy, efficiency, and effectiveness of the Board's and Bureau's programs and operations and in preventing and detecting waste, fraud, and abuse.
By Fed Newswire | Jun 29, 2011
News Release: The Bank of Canada, the Bank of England, the European Central Bank, the Federal Reserve, and the Swiss National Bank today announced an extension of the existing temporary U.S. dollar liquidity swap arrangements through Aug. 1, 2012. The Bank of Japan will consider the extension at its next Monetary Policy Meeting. The swap arrangements, established in May 2010, had been authorized through Aug. 1, 2011.
By Fed Newswire | Jun 29, 2011
News Release: The Federal Reserve Board on Wednesday issued a final rule establishing standards for debit card interchange fees and prohibiting network exclusivity arrangements and routing restrictions. This rule, Regulation II (Debit Card Interchange Fees and Routing), is required by the Dodd-Frank Wall Street Reform and Consumer Protection Act.
By Fed Newswire | Jun 28, 2011
News Release: The Federal Reserve Board on Tuesday announced the execution of the following enforcement actions: First Chatsworth Bankshares, Inc. (54 KB PDF), Chatsworth, Georgia Written Agreement dated June 22, 2011 First National Bancshares of Central Alabama, Inc. (55 KB PDF), Aliceville, Alabama Written Agreement ...
By Fed Newswire | Jun 27, 2011
News Release: The Federal Reserve Board on Monday announced its approval of the proposal by Bank of Taiwan, Taipei, Taiwan, to establish a branch in New York, New York.
By Fed Newswire | Jun 24, 2011
News Release: The minutes of the Federal Open Market Committee (FOMC) meeting of June 21-22, 2011, will be released at 2 p.m. EDT on Tuesday, July 12, 2011, a day earlier than usual. The release date was rescheduled in light of the timing of the House Financial Services Committee hearing on July 13 to receive the Federal Reserve Board's Monetary Policy Report to the Congress.
By Fed Newswire | Jun 23, 2011
News Release: Five federal agencies have approved and will submit a Federal Register notice that extends the comment period 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 ...
