Federal Reserve System October 2008 – Federal Register Recent Federal Regulation Documents

Formations of, Acquisitions by, and Mergers of Bank Holding Companies
Document Number: E8-25784
Type: Notice
Date: 2008-10-29
Agency: Federal Reserve System, Agencies and Commissions
Change in Bank Control Notices; Acquisition of Shares of Bank or Bank Holding Companies
Document Number: E8-25783
Type: Notice
Date: 2008-10-29
Agency: Federal Reserve System, Agencies and Commissions
Missing Comments Submitted Through the Federal eRulemaking Portal
Document Number: E8-25610
Type: Proposed Rule
Date: 2008-10-28
Agency: Federal Reserve System, Agencies and Commissions
Because of a software problem at the Federal eRulemaking Portal (http://www.regulations.gov), the Board did not receive certain public comments submitted through that portal. This problem affected comments on four of the Board's proposed rules [Docket Nos. R-1286; R- 1314, R-1315; and R-1316] that were submitted only through the Federal eRulemaking Portal between March 22, 2008, and September 8, 2008. A total of 83 comments on the four proposals were not relayed to the Board. As set forth below, the Board will accept resubmission of those comments that were not received.
Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB
Document Number: E8-25606
Type: Notice
Date: 2008-10-28
Agency: Federal Reserve System, Agencies and Commissions
Background. Notice is hereby given of the final approval of proposed information collections by the Board of Governors of the Federal Reserve System (Board) under OMB delegated authority, as per 5 CFR 1320.16 (OMB Regulations on Controlling Paperwork Burdens on the Public). Board-approved collections of information are incorporated into the official OMB inventory of currently approved collections of information. Copies of the Paperwork Reduction Act Submission, supporting statements and approved collection of information instrument(s) are placed into OMB's public docket files. The Federal Reserve may not conduct or sponsor, and the respondent is not required to respond to, an information collection that has been extended, revised, or implemented on or after October 1, 1995, unless it displays a currently valid OMB control number.
Minimum Capital Ratios; Capital Adequacy Guidelines; Capital Maintenance; Capital: Treatment of Certain Claims on, or Guaranteed by, the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac)
Document Number: E8-25555
Type: Proposed Rule
Date: 2008-10-27
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Office of Thrift Supervision, Comptroller of the Currency
On September 7, 2008, the U.S. Department of Treasury (Treasury) entered into senior preferred stock purchase agreements (the Agreement or Agreements) with the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac), which effectively provide protection to the holders of senior debt, subordinated debt, and mortgage-backed securities (MBS) issued or guaranteed by these entities. In light of the financial support provided under the Agreements, the Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (Board), Federal Deposit Insurance Corporation (FDIC), and Office of Thrift Supervision (OTS) (collectively, the agencies) are proposing to adopt a 10 percent risk weight for claims on, and the portion of claims guaranteed by, Fannie Mae or Freddie Mac. The 10 percent risk weight would apply so long as an Agreement remains in effect with the respective entity.
Formations of, Acquisitions by, and Mergers of Bank Holding Companies
Document Number: E8-25510
Type: Notice
Date: 2008-10-27
Agency: Federal Reserve System, Agencies and Commissions
Formations of, Acquisitions by, and Mergers of Bank Holding Companies; Correction
Document Number: E8-25509
Type: Notice
Date: 2008-10-27
Agency: Federal Reserve System, Agencies and Commissions
Capital Adequacy Guidelines: Treatment of Perpetual Preferred Stock Issued to the United States Treasury Under the Emergency Economic Stabilization Act of 2008
Document Number: E8-25489
Type: Rule
Date: 2008-10-27
Agency: Federal Reserve System, Agencies and Commissions
The Board published an interim final rule with request for public comment in the Federal Register on October 22, 2008 ( 73 FR 62851), providing that bank holding companies that issue new senior perpetual preferred stock to the U.S Department of Treasury under the capital purchase program announced by the Secretary of the Treasury on October 14, 2008, may include such capital instruments in Tier 1 capital for purposes of the Board's risk-based and leverage capital rules and guidelines for bank holding companies. The Public Law was cited incorrectly. This document corrects the citation in footnote 1 of the Supplementary Information and in the interim final regulation by revising these sections.
Change in Bank Control Notices; Acquisition of Shares of Bank or Bank Holding Companies
Document Number: E8-25384
Type: Notice
Date: 2008-10-24
Agency: Federal Reserve System, Agencies and Commissions
Formations of, Acquisitions by, and Mergers of Bank Holding Companies
Document Number: E8-25383
Type: Notice
Date: 2008-10-24
Agency: Federal Reserve System, Agencies and Commissions
Home Mortgage Disclosure
Document Number: E8-25320
Type: Rule
Date: 2008-10-24
Agency: Federal Reserve System, Agencies and Commissions
The Board is publishing final rules to amend Regulation C (Home Mortgage Disclosure) to revise the rules for reporting price information on higher-priced loans. The rules are being conformed to the definition of ``higher-priced mortgage loan'' adopted by the Board under Regulation Z (Truth in Lending) in July of 2008. Since 2004, Regulation C has required lenders to collect and report the spread between the annual percentage rate (APR) on a loan and the yield on Treasury securities of comparable maturity if the spread is equal to or greater than 3.0 percentage points for a first-lien loan (or 5.0 percentage points for a subordinate-lien loan). Under the final rule, a lender will report the spread between the loan's APR and a survey-based estimate of APRs currently offered on prime mortgage loans of a comparable type if the spread is equal to or greater than 1.5 percentage points for a first-lien loan (or 3.5 percentage points for a subordinate-lien loan).
Change in Bank Control Notices; Acquisition of Shares of Bank or Bank Holding Companies
Document Number: E8-25120
Type: Notice
Date: 2008-10-22
Agency: Federal Reserve System, Agencies and Commissions
Capital Adequacy Guidelines: Treatment of Perpetual Preferred Stock Issued to the United States Treasury Under the Emergency Economic Stabilization Act of 2008
Document Number: E8-25117
Type: Rule
Date: 2008-10-22
Agency: Federal Reserve System, Agencies and Commissions
In order to support and facilitate the timely implementation and acceptance of the capital purchase program announced by the U.S. Department of Treasury (Treasury) and promote the stability of banking organizations and the financial system, the Board has adopted this interim final rule (interim final rule or rule). The rule specifically permits bank holding companies that issue new senior perpetual preferred stock to the Treasury under the capital purchase program announced by the Secretary of the Treasury on October 14, 2008, to include such capital instruments in Tier 1 capital for purposes of the Board's risk-based and leverage capital rules and guidelines for bank holding companies.
Sunshine Act Meeting
Document Number: E8-25209
Type: Notice
Date: 2008-10-21
Agency: Federal Reserve System, Agencies and Commissions
Change in Bank Control Notices; Acquisition of Shares of Bank or Bank Holding Companies
Document Number: E8-24854
Type: Notice
Date: 2008-10-20
Agency: Federal Reserve System, Agencies and Commissions
Formations of, Acquisitions by, and Mergers of Bank Holding Companies
Document Number: E8-24853
Type: Notice
Date: 2008-10-20
Agency: Federal Reserve System, Agencies and Commissions
Extensions of Credit by Federal Reserve Banks
Document Number: E8-24519
Type: Rule
Date: 2008-10-17
Agency: Federal Reserve System, Agencies and Commissions
The Board of Governors of the Federal Reserve System (Board) has adopted final amendments to its Regulation A to reflect the Board's approval of a decrease in the primary credit rate at each Federal Reserve Bank. The secondary credit rate at each Reserve Bank automatically decreased by formula as a result of the Board's primary credit rate action.
Government in the Sunshine Meeting Notice
Document Number: E8-24681
Type: Notice
Date: 2008-10-16
Agency: Federal Reserve System, Agencies and Commissions
Federal Open Market Committee; Domestic Policy Directive of September 16, 2008
Document Number: E8-24603
Type: Notice
Date: 2008-10-16
Agency: Federal Reserve System, Agencies and Commissions
Formations of, Acquisitions by, and Mergers of Bank Holding Companies
Document Number: E8-24575
Type: Notice
Date: 2008-10-16
Agency: Federal Reserve System, Agencies and Commissions
Change in Bank Control Notices; Acquisition of Shares of Bank or Bank Holding Companies
Document Number: E8-24528
Type: Notice
Date: 2008-10-16
Agency: Federal Reserve System, Agencies and Commissions
Formations of, Acquisitions by, and Mergers of Bank Holding Companies
Document Number: E8-24527
Type: Notice
Date: 2008-10-16
Agency: Federal Reserve System, Agencies and Commissions
Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB
Document Number: E8-24349
Type: Notice
Date: 2008-10-15
Agency: Federal Reserve System, Agencies and Commissions
Background. Notice is hereby given of the final approval of proposed information collections by the Board of Governors of the Federal Reserve System (Board) under OMB delegated authority, as per 5 CFR 1320.16 (OMB Regulations on Controlling Paperwork Burdens on the Public). Board-approved collections of information are incorporated into the official OMB inventory of currently approved collections of information. Copies of the Paperwork Reduction Act Submission, supporting statements and approved collection of information instrument(s) are placed into OMB's public docket files. The Federal Reserve may not conduct or sponsor, and the respondent is not required to respond to, an information collection that has been extended, revised, or implemented on or after October 1, 1995, unless it displays a currently valid OMB control number.
Proposed Agency Information Collection Activities; Comment Request
Document Number: E8-24348
Type: Notice
Date: 2008-10-15
Agency: Federal Reserve System, Agencies and Commissions
Formations of, Acquisitions by, and Mergers of Bank Holding Companies
Document Number: E8-24347
Type: Notice
Date: 2008-10-15
Agency: Federal Reserve System, Agencies and Commissions
Change in Bank Control Notices; Acquisition of Shares of Bank or Bank Holding Companies
Document Number: E8-24345
Type: Notice
Date: 2008-10-15
Agency: Federal Reserve System, Agencies and Commissions
Formations of, Acquisitions by, and Mergers of Bank Holding Companies
Document Number: E8-24173
Type: Notice
Date: 2008-10-10
Agency: Federal Reserve System, Agencies and Commissions
Reserve Requirements of Depository Institutions
Document Number: E8-24003
Type: Rule
Date: 2008-10-09
Agency: Federal Reserve System, Agencies and Commissions
Under authority of section 128 of the Emergency Economic Stabilization Act of 2008, the Board is amending Regulation D, Reserve Requirements of Depository Institutions, to direct Federal Reserve Banks to pay interest on balances held at Reserve Banks to satisfy reserve requirements and on balances held in excess of required reserve balances and clearing balances. The Board is also making associated minor changes to its clearing balance policy and the method for recovering float costs.
Formations of, Acquisitions by, and Mergers of Bank Holding Companies
Document Number: E8-23802
Type: Notice
Date: 2008-10-08
Agency: Federal Reserve System, Agencies and Commissions
Sunshine Act Meeting
Document Number: E8-23893
Type: Notice
Date: 2008-10-07
Agency: Federal Reserve System, Agencies and Commissions
Formations of, Acquisitions by, and Mergers of Bank Holding Companies
Document Number: E8-23645
Type: Notice
Date: 2008-10-07
Agency: Federal Reserve System, Agencies and Commissions
Rules of Practice for Hearings
Document Number: E8-23527
Type: Rule
Date: 2008-10-06
Agency: Federal Reserve System, Agencies and Commissions
The Board of Governors of the Federal Reserve System (the Board) is amending its rules of practice and procedure to adjust the maximum amount, as set by statute, of each civil money penalty (CMP) within its jurisdiction to account for inflation. This action is required under the Federal Civil Penalties Inflation Adjustment Act of 1990, as amended by the Debt Collection Improvement Act of 1996.
Change in Bank Control Notices; Acquisition of Shares of Bank or Bank Holding Companies
Document Number: E8-23521
Type: Notice
Date: 2008-10-06
Agency: Federal Reserve System, Agencies and Commissions
Change in Bank Control Notices; Acquisition of Shares of Bank or Bank Holding Companies
Document Number: E8-23383
Type: Notice
Date: 2008-10-03
Agency: Federal Reserve System, Agencies and Commissions
Formations of, Acquisitions by, and Mergers of Bank Holding Companies
Document Number: E8-23382
Type: Notice
Date: 2008-10-03
Agency: Federal Reserve System, Agencies and Commissions
Reserve Requirements of Depository Institutions
Document Number: E8-22944
Type: Rule
Date: 2008-10-03
Agency: Federal Reserve System, Agencies and Commissions
The Board is amending Regulation D, Reserve Requirements of Depository Institutions, to reflect the annual indexing of the reserve requirement exemption amount and the low reserve tranche for 2009. The Regulation D amendments set the amount of total reservable liabilities of each depository institution that is subject to a zero percent reserve requirement in 2009 at $10.3 million, up from $9.3 million in 2008. This amount is known as the reserve requirement exemption amount. The Regulation D amendment also sets the amount of net transaction accounts at each depository institution that is subject to a three percent reserve requirement in 2009 at $44.4 million, up from $43.9 million in 2008. This amount is known as the low reserve tranche. The adjustments to both of these amounts are derived using statutory formulas specified in the Federal Reserve Act. The Board is also announcing changes in two other amounts, the nonexempt deposit cutoff level and the reduced reporting limit, that are used to determine the frequency at which depository institutions must submit deposit reports.
Consumer Advisory Council; Notice of Meeting of the Consumer Advisory Council
Document Number: E8-23241
Type: Notice
Date: 2008-10-02
Agency: Federal Reserve System, Agencies and Commissions
Change in Bank Control Notices; Acquisition of Shares of Bank or Bank Holding Companies
Document Number: E8-23218
Type: Notice
Date: 2008-10-02
Agency: Federal Reserve System, Agencies and Commissions