In carrying out the Financial Stability Plan, the Department of the Treasury and the Federal Reserve Board are announcing the launch of the Term Asset-Backed Securities Loan Facility (TALF), a component of the Consumer and Business Lending Initiative (CBLI).
Good afternoon. I'm delighted to be here again for your annual meeting.
I would like to begin with a few comments about the challenges facing our banking industry and the actions we're taking to preserve and strengthen it.
There is no question that this is one of the most difficult periods we have encountered...
Comptroller of the Currency John C. Dugan said today that the current approach to determining the loan loss provision forces banks to build reserves when it is most difficult, and urged a more counter-cyclical approach that would allow provisions to be made earlier in the credit cycle, when times are good.
On February 27, 2009, the FDIC adopted an interim rule that allows entities participating in the debt guarantee portion of the Temporary Liquidity Guarantee Program (TLGP) to issue certain mandatory convertible debt (MCD).
The U.S. Treasury Department and the Federal Reserve Board today announced a restructuring of the government's assistance to AIG in order to stabilize this systemically important company in a manner that best protects the U.S. taxpayer.
Remarks of Grovetta N. Gardineer, OTS to the Subcommittee on Housing and Community Opportunity:
Good afternoon, Chairwoman Waters, Ranking Member Capito and Members of the Subcommittee. Thank you for the opportunity to offer testimony on behalf of the Office of Thrift Supervision (OTS) on loan modifications and...
Security Savings Bank, Henderson, Nevada was closed today by the Nevada Financial Institutions Division, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver.
The two offices of Security Savings Bank will reopen on Monday as branches of Bank of Nevada.
Heritage Community Bank, Glenwood, Illinois, was closed today by the Illinois Department of Financial Professional Regulation, Division of Banking, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver.
The four offices of Heritage Community Bank will reopen as branches of MB Financial Bank...
On January 23, 2009, OTS issued guidance to the examiner and supervisory staff reminding them of the appropriate regulatory reporting and regulatory capital treatment by savings associations for equity capital contributions in the form of cash or notes.
The Office of Thrift Supervision (OTS) announced new initiatives today designed to enhance supervision of large thrifts and to ensure timely corrective actions to address identified problems among all thrifts.
The U.S. thrift industry had a record loss of $13.4 billion in 2008, as thrifts bolstered their reserves for loan losses by a record amount of $38.7 billion, the Office of Thrift Supervision (OTS) reported today.
The Federal Deposit Insurance Corporation (FDIC) today announced the conclusion of the sale of $1.45 billion of performing and nonperforming residential and commercial construction loans in distressed markets through the use of two private/public partnership transactions.