2002 News Archives

December 30, 2002

Board Proposes to Expand Operating Hours for On-Line Fedwire Service
Board Requests Comment on Proposed Reg Z Staff Commentary Revisions
Fall 2002 News and Views Available
September 30, 2002 UBPR is Now Available On-line

December 23, 2002

Interagency Advisory on Accounting for AIRs Related to Credit Card Securitizations
BIS Issues Report on Insolvency Arrangements and Contract Enforceability
BIS Publishes Quarterly Review on International Banking and Financial Market Developments

December 16, 2002

Legal Interpretation of Safe Harbor from Anti-Tying Prohibition
Proposed Call Report Revisions
FinCEN Issues Guidance on Interpreting "Frequently" in Currency Transactions Reports

December 9, 2002

Brief Moratorium on Section 314(a) Information Requests
Board Forms Working Group on Risk Mitigation in Clearing and Settlement of Government Securities
Fed Beige Book Released
Terrorism Risk Insurance Act of 2002 Enacted

December 2, 2002

Financial Literacy: An Overview of Practice, Research, and Policy
Top Banking Risks Updated
Interagency Efforts Among Banking, Insurance And Securities Regulators Facilitated By The Federal Reserve Bank Of Chicago
Treasury Designates BIF and Related Entities as Terrorism Financiers

November 25, 2002

Governor Olson Remarks on the Banking Industry in 2002 after a Decade of Change
FFIEC Requests Comment on Proposal to Revise Reports on Country Exposure and Call Reports
House Approves Terrorism Insurance Legislation

November 18, 2002

Senior Loan Officer Opinion Survey on Bank Lending Practices
BIS Reports Acceleration of OTC Derivatives Market Activity
OFAC Adds to Specially Designated Global Terrorists List

November 11, 2002

Board Issues Final Rule Amending Regulation A Board Issues Letter on the Use of Statistical Sampling for Reviewing Loans
Board Issues SR Letter on the Sarbanes-Oxley Act of 2002
BIS Issues Consolidated Banking Statistics as of June 30, 2002

November 4, 2002

Board Releases Most Recent Beige Book
Treasury Department Issues USA PATRIOT Act Report to Congress
SEC Announces Founding Members of Accounting Oversight Board
Sarbanes Releases GAO Report on Accounting Irregularities

October 28, 2002

De Novo Banks Page Revised
FinCEN Issues Final Rules Implementing Provisions of the USA PATRIOT Act
BIS Releases Third Quantitative Impact Survey
International Conference of Banking Supervisors Endorses Customer Due Diligence for Banks
SEC Proposes Rules on Disclosures Implementing Certain Sections of the Sarbanes-Oxley Act

October 21, 2002

Governor Bies Remarks on Corporate Governance and Risk Management
Basel Committee Publication on Cross-Border E-Banking Activities
Chairman Oxley Releases Findings in IPO Investigation

October 14, 2002

Board Seeks Comment on Proposed Amendments to Reg T
2002 Shared National Ccredit Review Results Available
U.S. House Approves Legislation to Raise Truth-in-Lending Ceiling

October 7, 2002

Capital Market News
Board Announces Annual Adjustment of Fee-based Trigger for Additional Mortgage Loan Disclosures
FinCEN Expands E-filing System to Include BSA Reports

September 30, 2002

Treasury Publishes Office of Foreign Assets Control (OFAC) FAQs
419 Scam/Nigerian Fraud Letter has New Spin

September 23, 2002

Board Seeks Comments on Proposed Revisions to FR Y-9 Reports
Consumer Privacy Update: Do Not Call Lists
Treasury Issues Anti-Terrorism Rules

September 16, 2002

Fed Beige Book Released
June 30, 2002 UBPR is now Available On-line

September 9, 2002

Regulators Issue Draft Paper on Sound Practices to Strengthen the Resilience of the Financial System
SEC Approves Rules Implementing Provisions of Sarbanes-Oxley Act

September 2, 2002

Register Now For DeNovo Banking Conference
USA PATRIOT Act Information
FinCEN Publishes 4th SAR Activity Review GAO Report on Money Laundering through Credit Cards

August 26, 2002

Board Releases August 2002 Senior Loan Officer Survey on Bank Lending Practices
Board Decides Not to Pursue Longer-Term Payments System Risk Policy Plan

August 19, 2002

Agencies Extend Comment Period on Draft Guidance on Credit Card Lending
The Use of Checks and other Noncash Payment Instruments in the U.S.

August 12, 2002

Board Nominees Approved
Data on Lending Covered by CRA and HMDA Now Available
SEC Proposes Rule on Disclosure Certification of Financial Reports

August 5, 2002

James Nelson To Head Bank Supervision and Regulation At The Chicago FED
Board Issues Further Guidance on Implementation of Section 312 of the USA PATRIOT Act
Board Publishes Legal Interpretations on Permissible Activities

July 29, 2002

Top Banking Risks Updated
Board Issues Interagency Draft Guidance on Credit Card Lending
Treasury Issues Interim Final Rule on the Implementation of Section 312 of the USA PATRIOT Act

July 22, 2002

Proposed Interagency Regulations on Customer Identification
Basel Committee Reaches Agreement on New Capital Accord Issues
Senate Passes Accounting Reform Bill

July 8, 2002

Board Publishes Amendments to Regulation C
SEC Formally Proposes Framework for Public Accountability Board

July 1, 2002

Upcoming DeNovo Bank Conference
Board Issues Report on Banks' Credit Card Profitability
2002 Host State Loan-to-Deposit Ratios

June 24, 2002

Capital Markets News
Board Releases Latest Beige Book
March 31, 2002 UBPR is now Available On-line

June 17, 2002

NEW...Operational Risk Page
Governor Olson Remarks on the Dual Banking System and the Current Condition of the Banking Industry
Treasury Issues Proposed Regulation Implementing Section 312 of USA PATRIOT Act

June 10, 2002

Board Issues Interagency Guidance on Implicit Recourse in Asset Securitization Activities
Board Issues Chairman Greenspan's Letter on Unfair or Deceptive Acts or Practices
FFIEC Announces Addition of Aggregate Reports to UBPRs

June 3, 2002

Board Issues Guidance on Capital Treatment of AIRs Related to Credit Card Securitizations
Board Issues Alert on Securitization Covenants Linked to Supervisory Actions or Thresholds
Vice Chairman Ferguson Remarks on Community and Regional Banking

May 27, 2002

Board Announces Proposal to Revise Discount Window Programs
Board Issues Alert on "Prime Bank" and Other Fraudulent Schemes
FFATF Releases Guidance for Financial Institutions in Detecting Terrorist Financing Activities
SEC, CFTC and Japanese FSA Sign Information Sharing Arrangement

May 20, 2002

Board Releases April 2002 Senior Loan Officer Survey on Bank Lending Practices
Vice Chairman Ferguson Remarks on the Implications of 9/11 for the Financial Services Sector
Farm Bill Approved by Senate and Signed into Law by President
Federal Reserve and SEC Publish Paper on Structural Change in Settlement of Government Securities

May 13, 2002

Board Postpones Effective Date of Recent Amendments to Regulation C (HMDA)
Chairman Greenspan Remarks on Stock Options and Related Accounting Issues
Sarbanes Announces the Introduction of Predatory Lending Legislation

May 6, 2002

Interagency Guidance on Risks of Parallel-Owned Banking Organizations
Chairman Greenspan Testifies Before the Senate Banking Committee on Deposit Insurance Reform
Governor Olson Remarks on Risk Management in a Changing Economic Environment

April 29, 2002

2001 De Novo Bank Peer Data Now Available
Consumers and Credit Disclosures: Credit Cards and Credit Insurance
House Committee Approves Legislation on Corporate Disclosure and Accounting Reform

April 22, 2002

2002 First Quarter Top Banking Risks Updated
Lessons Learned from 9/11 Events and Implications for Business Continuity
House Banking Committee Approves Deposit Insurance Legislation

April 15, 2002

Revisions to Staff Commentary on Regulation Z Governor Gramlich remarks on the Community Reinvestment Act
Agencies issue final rule lowering risk weighting for claims on securities firms

April 8, 2002

Derivative Contracts Hedging Trust Preferred Stock
Updated List of Securities Underwriting and Dealing Subsidiaries
FFIEC Publishes Fourth Quarter 2001 Country Exposure Report
The Evolution of the Federal Reserve's Intraday Credit Policies

April 1, 2002

Reminder on Prior Approval Requirements of Regulation H Regarding Core Business Changes
Financial Institutions Advised to Follow SEC Guidance on Filing Statements Audited by Andersen
Updated FEMA Brochure "Answers to Questions About the National Flood Insurance Program"
Consumer Guide on Electronic Check Conversion Transactions
SEC Announces Plans for Completing Reviews of Auditor Independence Systems and Controls

March 25, 2002

Interagency Guidance on Country Risk Management
Board Announces New Interagency Standard for Electronic Loan Information
Board Issues Letter on Information Sharing Pursuant to Section 314(b) of the USA PATRIOT Act
Beige Book Released

March 18, 2002

Board Issues Summary of Final Capital Rules for Nonfinancial Equity Investments
FFIEC Issues Hints for Using the Online UBPR
Vice Chairman Ferguson Remarks on Managing Banking Risk

March 11, 2002

Treasury Announces USA PATRIOT Act
Regulations to Improve Information Sharing
Vice Chairman Ferguson Remarks on Disaster Recovery and Business Continuity
Governor Bies Remarks on Strengthening the Financial System through Sound Accounting and Disclosure

March 4, 2002

Board Issues Statement on Hedging Equity Derivative Transactions
FFIEC Approves Revisions to the Call Report for 2002
Senate Banking Committee to Examine Remittances Abuses
Congressman Bachus Introduces Deposit Insurance Reform Legislation

February 25, 2002

Board Issues Guidance on new Regulation K Reporting Requirements
Board Revises Procedures for Processing Regulation K Applications and Prior Notifications
SEC Announces Proposed Changes to Corporate Disclosure Rules

February 18, 2002

Supervision Activity Survey
Board Revises Regulation C (HMDA) and Seeks
Public Comment on Additional Items
Federal Agencies Publish Consumer Guide on Privacy Notices
Sarbanes Announces Hearing on Accounting and Investor Protection Issues
Governor Olson Remarks on the Evolution of the Financial Services Industry and Public Policy

February 11, 2002

Greenspan Testifies on Financial Literacy before the Senate Banking Committee
January 2002 Senior Loan Officer Opinion Survey Results
Iowa Governor Appoints New Superintendent of Banking

February 4, 2002

Fed Testifies Before the Banking Committee on Antiterrorism Initiatives
Board Amends Regulation C Disclosure Requirements and Seeks Public Comment on Certain Items
Mailing Address Change for CRA/HMDA Data Submission
Banking Committee Hearings on National Strategy to Promote Financial Literacy and Education

January 28, 2002

Governor Gramlich Remarks on Predatory Lending
Banking Committee to Examine Implementation of the "USA PATRIOT Act" Money Laundering Legislation
Sarbanes Requests GAO Investigation

January 21, 2002

Announcing New Top Banking Risks Added to Banking Supervision and Regulation Pages
Agencies Adopt Final Rules on Regulatory Capital Treatment of Nonfinancial Equity Investments
Revised Supervision Procedures for Small Bank Holding Companies

January 14, 2002

FYI--419 Scam/Nigerian Letter Fraud
FFIEC Publishes Third Quarter 2001 Country Exposure Report
Board Names New Members of Consumer Advisory Council

January 7, 2002

Agencies Submit Joint Report to Congress on Retail Swaps Pursuant to the CFMA
OFAC Updates Names of Specially Designated Nationals and Blocked Persons