The Federal Deposit Insurance Corporation (FDIC) will host the International Association of Deposit Insurers (IADI) 7th Annual Conference October 29-30, 2008, in the auditorium at the FDIC's L. William Seidman Center at Virginia Square located at 3501 N. Fairfax Drive, Arlington, Virginia. The theme for the two-day...
The FDIC Board of Directors is seeking comment on the attached proposed rule, which would amend the system for risk-based assessments and change assessment rates. Comments on the proposed rule are due by November 17, 2008.
Highlights:
Risk-Based Assessments for Risk Category I: To determine initial base...
State nonmember institutions are encouraged to participate in the Troubled Asset Relief Program's (TARP) Capital Purchase Program (CPP) to strengthen their capital positions and ability to prudently make credit available in their lending markets. All financial institutions are eligible to apply for a capital injection...
The Federal Reserve Board on Tuesday announced the creation of the Money Market Investor Funding Facility (MMIFF), which will support a private-sector initiative designed to provide liquidity to U.S. money market investors.
Under the MMIFF, authorized by the Board under Section 13(3) of the Federal Reserve Act, the...
Treasury, the Federal Reserve, the Office of the Comptroller of the Currency, the Office of Thrift Supervision, and the Federal Deposit Insurance Corporation today issued application guidelines and other documents for the Capital Purchase Program announced last week. Attached are application guidelines, an application...
Before the Committee on the Budget, U.S. House of Representatives
October 20, 2008
Chairman Spratt, Representative Ryan, and other members of the Committee, I appreciate this opportunity to discuss recent developments in financial markets, the near-term economic outlook, and issues surrounding the possibility of a...
Good morning. As you know, over the last few weeks we have worked aggressively to implement the authorities provided by Congress in the financial rescue package enacted earlier this month. This morning, I will provide a short update on the capital purchase program that is a key component of that package.
As we have...
The federal banking and thrift regulatory agencies encourage all eligible institutions to use the Treasury Department's Capital Purchase Program and the Federal Deposit Insurance Corporation's Temporary Liquidity Guarantee Program. On October 14, 2008, the U.S. government announced a series of initiatives to...
The OCC has issued new Fair Credit Reporting Act (FCRA) examination procedures for rules addressing affiliate marketing, identity-theft red flags, and address discrepancies. These new examination procedures are additions to the existing FCRA procedures contained in OCC Bulleting 2006-49. The new examination procedures...
Treasury today released the following document on the procurement process for small business participation in the implementation of the Emergency Economic Stabilization Act of 2008.
The federal banking and thrift regulatory agencies announced today that they will allow banks, bank holding companies, and thrifts (collectively, "banking organizations") to recognize the effect of the tax change enacted in Section 301 of the Emergency Economic Stabilization Act of 2008 (EESA) in their third quarter...
The FDIC has issued the attached examination procedures on identity theft "red flags," address discrepancies, and change of address requests.
Highlights:
The exam procedures are intended to assist financial institutions in implementing the Identity Theft Red Flags, Address Discrepancies, and Change of Address...
Beginning today, the Federal Deposit Insurance Corporation (FDIC) will hold the first in a series of conference calls with the banking industry to answer technical questions regarding the newly announced Temporary Liquidity Guarantee Program. Today's call will commence at 2 p.m. Eastern and will run for one hour....
The Department of the Treasury released a request for public input today on an insurance program for troubled assets which is required by the Emergency Economic Stabilization Act of 2008 (EESA). The purpose of this program is to restore liquidity and stability to the financial system, while minimizing any potential...
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