Circular Letters

2009

Circular Letters announce news, policy, and guidance from the Board of Governors. The following letters were distributed by the Federal Reserve Bank of Cleveland in 2009. Click the appropriate number to view the letter in its entirety.

December 31, 2009
Circular Letter: 09-184 Regulation D Reserve Requirements of Depository Institutions Policy on Payment System Risk Notice of Proposed Rulemaking Requet for Public Comment
The Board is requesting public comment on proposed amendments to Regulation D, Reserve Requirements of Depository Institutions, to authorize the establishment of term deposits. PDF file
December 28, 2009
Circular Letter: 09-183 Federal Reserve Board Proposes Amendments to Regulation D That Would Enable the Establishment of a Term Deposit Facility
The Federal Reserve Board on Monday proposed amendments to Regulation D (Reserve Requirements of Depository Institutions) that would enable the establishment of a term deposit facility. PDF file
December 22, 2009
Circular Letter: 09-182 Agencies Release Annual CRA Asset-Size Threshold Adjustments for Small and Intermediate Small Institutions
The federal bank regulatory agencies today announced the annual adjustment to the asset-size thresholds used to define "small bank," "small savings association," "intermediate small bank" and "intermediate small savings association" under the Community Reinvestment Act (CRA) regulations. PDF file
December 22, 2009
Circular Letter: 09-181 Agencies Issue Final Rules on Risk-Based Pricing Notices
The Federal Reserve Board and the Federal Trade Commission today announced final rules that generally require a creditor to provide a consumer with a notice when, based on the consumer's credit report, the creditor provides credit to the consumer on less favorable terms than it provides to other consumers. PDF file
December 22, 2009
Circular Letter: 09-180 Annual Notice of Asset-Size Exemption Threshold for Depository Institutions
The Federal Reserve Board on Tuesday published its annual notice of the asset-size exemption threshold for depository institutions under Regulation C, which implements the Home Mortgage Disclosure Act (HMDA). PDF file
December 18, 2009
Circular Letter: 09-185 SSR 09-09 Interagency Guidance on Transparency and Compliance in Cross-Border Funds Transfer
The Federal Reserve, together with the Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, Office of Thrift Supervision, and National Credit Union Administration, has issued the attached interagency guidance on "Transparency and Compliance for U. S. Banking Organizations Conducting Cross-Border Funds Transfers." PDF file
December 17, 2009
Circular Letter: 09-179 U. S. Regulators Encourage Comments to Basel Committee
The Basel Commmittee on Banking Supervision (the Committee) today released for comment new proposals that aim to strengthen the resiliency of the banking sector through new capital and liquidity standards. PDF file
December 15, 2009
Circular Letter: 09-178 Federal Reserve Announces Results of Auction of $75 billion in 28-day Credit Held on December 14, 2009
On December 14, 2009, the Federal Reserve conducted an auction of $75 billion in 28-day credit through its Term Auction Facility. PDF file
December 14, 2009
Circular Letter: 09-177 Federal Reserve Offers $75 billion in 28-day Credit Through its Term Auction Facility
On December 14, 2009, the Federal Reserve will offer $75 billion in 28-day credit through its Term Auction Facility. PDF file
December 9, 2009
Circular Letter: 09-176 Regulation A - Extensions of Credit by Federal Reserve Banks - Final Rule
This final rule amends Regulation A to provide a process by which the Federal Reserve Bank of New York may determine the eligibility of credit rating agencies in the Term Asset-backed Securities Loan Facility. PDF file
December 8, 2009
Circular Letter: 09-172 Results of the 2009 Election of Federal Reserve Bank Directors
Group 2 member banks in the Fourth Federal Reserve District have re-elected two members to the Federal Reserve Bank of Cleveland's Board of Directors. PDF file
December 4, 2009
Circular Letter: 09-175 Extensions of Credit by Federal Reserve - Final Rule
The Federal Reserve Board on Friday announced the adoption of a final rule that would establish a process by which the Federal Reserve Bank of New York may determine the eligibility of credit rating agencies for the Term Asset-Backed Securities Loan Facility (TALF). PDF file
December 1, 2009
Circular Letter: 09-171 Results of the November 30, 2009 Term Auction Facility
On November 30, 2009, the Federal Reserve conducted an auction of $25 billion in 42-day credit through its Term Auction Facility. PDF file
December 1, 2009
Circular Letter: 09-173 Final Model Privacy Form under Gramm-Leach-Bliley Act
The OCC, Board, FDIC, OTS, NCUA, FTC, CFTC, and SEC (the "Agencies") are publishing final amendments to their rules that implement the privacy provisions of Subtitle A of Title V of the Gramm-Leach-Bliley Act ("GLB Act"). PDF file
November 30, 2009
Circular Letter: 09-170 Federal Reserve Offers $25 billion in 42-day credit through its Term Auction Facility
On November 30, 2009, the Federal Reserve will offer $25 billion in 42-day credit through its Term Auction Facility. PDF file
November 27, 2009
Circular Letter: 09-169 Agencies Extend Compliance Date for Final Rule to Implement Unlawful Internet Gambling Enforcement Act
The Department of the Treasury and the Federal Reserve Board on Friday announced the release of a joint final rule to extend the compliance date for their joint regulation implementing certain provisions of the Unlawful Internet Gambling Enforcement Act by six months to June 1, 2010. PDF file
November 25, 2009
Circular Letter: 09-168 Federal Reserve to Run Public Service Announcement with Credit Card Tips for Holiday Shoppers
The Federal Reserve wants consumers to use their credit cards wisely as they shop for the holidays, and is sponsoring 45-second advertisements in movie theaters with tips to help shoppers avoid unnecessary charges and fees. PDF file
November 20, 2009
Circular Letter: 09-167 Regulation E, Electronic Fund Transfers - Request for Public Comment
The Board is proposing to amend Regulation E, which implements the Electronic Fund Transfer Act, and the official staff commentary to the regulation, which interprets the requirements of Regulation E. PDF file
November 20, 2009
Circular Letter: 09-166 Regulation Z, Truth in Lending, Interim Final Rule; Request for Public Comment
The Board is publishing for pubic comment an interim final rule amending Regulation Z (Truth in Lending). PDF file
November 20, 2009
Circular Letter: 09-165 Risk-Based Capital Guidelines; Capital Adequacy Guidelines; Capital Maintenance; Capital--Residential Mortgage Loans Modified Pursuant to the Home Affordable Mortgage Program
The agencies have adopted a final rule to allow banks, savings associations, and bank holding companies (collectively, banking organizations) to risk weight for purposes of the agencies' capital guidelines mortgage loans modified pursuant to the Home Affordable Morgage Program (Program) implemented by the U.S. Department of the Treasury (Treasury) with the same risk weight assigned to the loan prior to the modification so long as the loan continues to meet other applicable prudential criteria. PDF file
November 17, 2009
Circular Letter: 09-164 Board Approves Reduction in Maximum Maturity of Primary Credit Loans Effective January 14, 2010
In light of the continued improvement in financial market conditions, the Federal Reserve Board on Tuesday announced that it approved a reduction in the maximum maturity of primary credit loans at the discount window for depository institutions to 28 days from 90 days effective January 14, 2010. PDF file
November 17, 2009
Circular Letter: 09-163 Federal Regulators Issue Final Model Privacy Notice Form
Eight federal regulatory agencies today released a final model privacy notice form that will make it easier for consumers to understand how financial institutions collect and share information about consumers. PDF file
November 17, 2009
Circular Letter: 09-162 Results of the November 16, 2009 Term Auction Facility
On November 16, 2009, the Federal Reserve conducted an auction of $75 billion in 28-day credit through its Term Auction Facility. PDF file
November 17, 2009
Circular Letter: 09-161 Regulation E - Electronic Fund Transfers
The Board is amending Regulation E, which implements the Electronic Fund Transfer Act, and the official staff commentary to the regulation, which interprets the requirements of Regulation E. PDF file
November 16, 2009
Circular Letter: 09-160 Federal Reserve Approves Interim Final Rule Requiring Notice be Given to Consumers When Their Mortgage Loan is Sold or Transferred
The Federal Reserve Board on Monday approved an interim final rule to implement a recent statutory amendment requiring that notice be given to consumers when their mortgage loan has been sold or transferred. PDF file
November 16, 2009
Circular Letter: 09-158 Federal Reserve Offers $75 billion in 28-day Credit Through its Term Auction Facility
On November 16, 2009, the Federal Reserve will offer $75 billion in 28-day credit through its Term Auction Facility. PDF file
November 16, 2009
Circular Letter: 09-159 Federal Reserve Proposes Rules to Restrict Fees and Expiration Dates on Gift Cards
The Federal Reserve Board on Monday announced proposed rules that would restrict the fees and expiration dates that may apply to gift cards. PDF file
November 16, 2009
Circular Letter: 09-157 Agencies Issue Final Rule for Mortgage Loans Modified Under the Home Affordable Mortage Program
The federal bank and thrift regulatory agencies today issued a final rule providing that mortgage loans modified under the U.S. Department of the Treasury's Home Affordable Mortgage Program (HAMP) will generally retain the risk weight appropriate to the mortgage loan prior to modification. PDF file
November 16, 2009
Circular Letter: 09-156 Federal Regulators Reopen Comment Period for Correspondent Concentration Risks Guidance
The federal bank and thrift regulatory agencies announce today they are reopening the comment period on proposed guidance on correspondent concentration risks, originally published on September 25. PDF file
November 16, 2009
Circular Letter: 09-155 Election of Federal Reserve Bank Directors
An election is being held to choose one Class A director and one Class B director of this Reserve Bank. Group 2 banks will vote in the Fourth District election this year. An updated list of Group 2 banks is included with this correspondence. PDF file
November 12, 2009
Circular Letter: 09-154 Federal Reserve Announces Final Rules Prohibiting Institutions from Charging Fees for Overdrafts on ATM and One-time Debit Card Transactions
The Federal Reserve Board on Thursday announced final rules that prohibit financial institutions from charging consumers fees for paying overdrafts on automated teller machine (ATM) and one-time debit card transactions, unless a consumer consents, or opts in, to the overdraft service for those type of transactions. PDF file
November 10, 2009
Circular Letter: 09-152 SR 09-07 Prudent Commercial Real Estate Loan Workouts
The Federal Reserve, along with the other financial regulators of the Federal Financial Institutions Examination Council (FFIEC), has adopted the attached policy statement on Prudent Commercial Real Estate Loan Workouts. PDF file
November 10, 2009
Circular Letters: 09-151 Correspondent Concentration Risks: Reopening of Comment Period
On September 25, 2009, the FDIC, Board, OCC, and OTS (the Agencies) published proposed guidance on correspondent concentration risks (Proposed Guidance) for public comment. PDF file
November 10, 2009
Circular Letter: 09-153 Federal Reserve Releases Articles Examining Ways to Improve Housing Options for Low-Income Renters
The Federal Reserve Board on Tuesday announced the availability of a collection of brief articles that examine ways to improve the availability of housing options for low-income renters. PDF file
November 9, 2009
Circular Letter: 09-150 Federal Reserve Board Makes Announcement Regarding the Supervisory Capital Assessment Program (SCAP)
The Federal Reserve Board on Monday said that 9 of the 10 Bank Holding Companies (BHCs) that were determined in the Supervisory Capital Assessment Program (SCAP) earlier this year to need to raise capital or improve the quality of their capital to withstand a worse-than-expected economic scenario now have increased their capital sufficiently to meet or exceed their required capital buffers. PDF file
November 3, 2009
Circular Letter: 09-149 Results of the November 2, 2009 Term Auction Facility
On November 2, 2009, the Federal Reserve conducted an auction of $25 billion in 70-day credit through its Term Auction Facility. PDF file
November 2, 2009
Circular Letter: 09-148 Federal Reserve Offers $25 Billion in 70-day Credit Through its Term Auction Facility
On November 2, 2009, the Federal Reserve will offer $25 billion in 70-day credit through its Term Auction Facility. PDF file
October 30, 2009
Circular Letter: 09-147 Federal Reserve Announces Temporary Exemption to the Limitations in Section 23A of the Federal Reserve Act
The Federal Reserve Board announced Friday that a temporary exemption to the limitations in section 23A of the Federal Reserve Act, instituted as part of the response to the financial crisis, will expire as scheduled on October 30, 2009. PDF file
October 30, 2009
Circular Letter: 09-146 Federal Reserve Adopts a Policy Supporting Prudent Commercial Real Estate (CRE) Loan Workouts
The Federal Reserve on Friday adopted a policy statement supporting prudent commercial real estate (CRE) loan workouts. PDF file
October 27, 2009
Circular Letter: 09-145 Proposed Guidance on Sound Incentive Compensation Policies - Request for Public Comment
The Board is requesting comment on proposed guidance (the "guidance") designed to help ensure that incentive compensation policies at banking organizations do not encourage excessive risk-taking and are consistent with the safety and soundness of the organization. PDF file
October 21, 2009
Circular Letter: 09-144 Regulation Z - Truth in Lending - Request for Public Comment
The Board proposes to amend Regulation Z, which implements the Truth in Lending Act, and the staff commentary to the regulation in order to implement provisions of the Credit Card Accountability Responsibility and Disclosure Act of 2009 that are effective on February 22, 2010. PDF file
October 20, 2009
Circular Letters: 09-143 Results of the October 19, 2009 Term Auction Facility
On October 19, 2009, the Federal Reserve conducted an auction of $75 billion in 28-day credit through its Term Auction Facility. PDF file
October 20, 2009
Circular Letters: 09-142 Federal Reserve Offers $70 Billion in 28-day Credit Through its Term Auction Facility
October 19, 2009, the Federal Reserve will offer $75 billion in 28-day credit through its Term Auction Facility. PDF file
October 9, 2009
Circular Letter: 09-141 Annual Adjustments for Reserve Calculations and Deposit Reporting, Regulation D
All depository institutions must hold a percentage of certain types of deposits as reserves in the form of vault cash, as a deposit in a Federal Reserve Bank, or as a deposit in a pass-through account at a correspondent institution. PDF file
October 9, 2009
Circular Letter: 09-140 Regulation A - Extensions of Credit by Federal Reserve Banks - Proposed Rule
The Board of Governors (Board) is publishing for public comment a proposed amendment to Regulation A that would provide a process by which the Fedeal Reserve Bank of New York may determine the eligibility of credit rating agencies and the ratings they issue for use in the Term Asset-Backed Securities Loan Facility, which is maintained by the Federal Reserve Bank of New York and for which the Board has expressly set a particular credit rating requirement for collateral offered by the borrower. PDF file
October 9, 2009
Circular Letter: 09-139 Nominations for Election of Federal Reserve Bank Directors
The terms of two directors of this Bank expire at the end of 2009. Nominations for these positions may be submitted by Group 2 member banks between now and November 13, 2009. PDF file
October 6, 2009
Circular Letter: 09-138 Results of the October 6, 2009 Term Auction Facility
On October 6, 2009, the Federal Reserve conducted an auction of $50 billion in 70-day credit through its Term Auction Facility. PDF file
October 5, 2009
Circular Letter: 09-137 Federal Reserve Announces Changes to Procedures for Evaluating Asset-Backed Securities Pledged to the Term Asset-Backed Securities Loan Facility (TALF)
The Federal Reserve Board on Monday announced two changes to the procedures for evaluating asset-backed securities (ABS) pledged to the Term Asset-Backed Securities Loan Facility (TALF). PDF file
October 5, 2009
Circular Letter: 09-136 Federal Reserve Offers $50 Billion in 70-day Credit Through its Term Auction Facility
October 5, 2009, the Federal Reserve will offer $50 billion in 70-day credit through its Term Auction Facility. PDF file
September 30, 2009
Circular Letter: 09-135 Regulation S Reimbursement for Providing Financial Records; Recordkeeping Requirements for Certain Financial Records
The Board of Governors of the Federal Reserve System (Board) has approved amendments to Subpart A of Regulation S, which implements the requirement under the Right to Financial Privacy Act (RFPA) that the Board establish the rates and conditions under which payment shall be made by a government authority to a financial institution for assembling or providing financial records pursuant to RFPA. PDF file
September 29, 2009
Circular Letter: 09-134 Board Approves Proposed Rule Amending Credit Card Provisions of Regulation Z (Truth in Lending)
The Federal Reserve Board on Tuesday proposed rules amending Regulation Z (Truth in Lending) to protect consumers who use credit cards from a number of potentially costly practices. PDF file
September 24, 2009
Circular Letter: 09-133 Board Issues Revision to Regulation S Regarding Costs Incurred by Financial Institutions in Producing Customer Financial Records
The Federal Reserve Board on Thursday issued a revision to Regulation S, which sets the rates and conditions under which a government agency must reimburse a financial institution for costs incurred in producing customer financial records under the Right to Financial Privacy Act. PDF file
September 24, 2009
Circular Letter: 09-131 Federal Reserve Announces Term Auction Facility (TAF) and Term Securities Lending Facility (TSLF) Schedules Through January 2010
The Federal Reserve on Thursday announced schedules for operations under the Term Auction Facility (TAF) and the Term Securities Lending Facility (TSLF) through January 2010 and other information related to those facilities. PDF file
September 24, 2009
Circular Letter: 09-132 Credit Quality Declines in Annual Shared National Credits Review
Credit quality declined sharply for loan commitments of $20 million or more held by multiple federally supervised institutions, according to the 32nd annual review of Shared National Credits (SNC). PDF file
September 22, 2009
Circular Letter: 09-130 Results of the September 21, 2009 Term Auction Facility
On September 21, 2009, the Federal Reserve conducted an auction of $75 billion in 28-day credit through its Term Auction Facility. PDF file
September 21, 2009
Circular Letter: 09-129 Federal Reserve Offers $75 Billion in 28-day Credit through its Term Auction Facility
On September 21, 2009, the Federal Reserve will offer $75 billion in 28-day credit through its Term Auction Facility. PDF file
September 15, 2009
Circular Letter: 09-128 Federal Reserve to Implement a Consumer Compliance Supervision Program
The Federal Reserve, under a policy announced Tuesday, will implement a consumer compliance supervision program in nonbank subsidiaries of bank holding companies (BHCs) and foreign banking organizations (FBOs) with activities covered by the consumer protection laws and regulations the Federal Reserve has the authority to enforce. PDF file
September 15, 2009
Circular Letter: 09-127 Risk-Based Capital Guidelines; Capital Adequacy Guidelines; Capital Maintenance: Regulatory Capital; Impact of Modifications to Generally Accepted Accounting Principles; Consolidation of Asset-Backed Commercial Paper Programs; and Other Related Issues
The Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (Board), Federal Deposit Insurance Corporation (FDIC), and the Office of Thrift Supervision (OTS) (collectively, the agencies)are requesting comment on a proposal to modify their general risk-based and advanced risk-based capital adequacy frameworks to eliminate the exclusion of certain consolidated asset-backed commercial paper programs from risk-weighted assets and provide a reservation of authority in their general risk-based and advanced risk-based capital adequacy frameworks to permit the agencies to require banking organizations to treat entities that are not consolidated under accounting standards as if they were consolidated for risk-based capital purposes, commensurate with the risk relationship of the banking organization to the structure. PDF file
September 9, 2009
Circular Letter: 09-126 Results of the September 8, 2009 Term Auction Facility
On September 8, 2009, the Federal Reserve conducted an auction of $75 billion in 84-day credit through its Term Auction Facility. PDF file
September 8, 2009
Circular Letter: 09-125 Federal Reserve offers $75 billion in 84-day credit through its Term Auction Facility
On September 8, 2009, the Federal Reserve will offer $75 billion in 84-day credit through its Term Auction Facility. PDF file
August 28, 2009
Circular Letter: 09-124 Federal Reserve Announces Amounts of Term Auction Facility (TAF) Credit Offered at September Auctions will be reduced to $75 billion
The Federal Reserve on Friday announced that the amounts of Term Auction Facility (TAF) credit offered at each of the two auctions in September will be reduced to $75 billion from $100 billion in August. PDF file
August 26, 2009
Circular Letter: 09-123 Agencies Seek comment on Proposed Regulatory Capital Standards Related to Adoption of Statements of Financial Accounting Standards No. 166 and 167
The federal banking and thrift regulatory agencies are seeking comment on a proposed regulatory capital rule related to the Financial Accounting Standards Board's adoption of Statements of Financial Accounting Standards Nos. 166 and 167. PDF file
August 26, 2009
Circular Letter: 09-122 Federal Reserve Board Alerts Public to Instances of Fraudulent Solicitations Directed at Consumers
The Federal Reserve Board on Wednesday warned consumers about fraudulent solicitations that appear to be made with the approval or involvement of the Federal Reserve, Federal Reserve officials, or other U.S. government officials. PDF file
August 26, 2009
Circular Letter: 09-121 Regulation Z - Truth in Lending - Request for Public Comment
The Board proposes to amend Regulation Z, which implements the Truth in Lending Act (TILA), and the Official Staff Commentary to the regulation, following a comprehensive review of TILA's rules for open-end home-secured credit, or home-equity lines of credit (HELOCs). PDF file
August 26, 2009
Circular Letter: 09-120 Regulation Z - Truth in Lending - Request for Public Comment
The Board proposes to amend Regulation Z, which implements the Truth in Lending Act (TILA), and the staff commentary to the regulation, as part of a comprehensive review of TILA's rules for closed-end credit. PDF file
August 25, 2009
Circular Letter: 09-119 Results of the August 24, 2009 Term Auction Facility
On August 24, 2009, the Federal Reserve conducted an auction of $100 billion in 28-day credit through its Term Auction Facility. PDF file
August 24, 2009
Circular Letter: 09-118 Federal Reserve offers $100 billion in 28-day credit through its Term Auction Facility
On August 24, 2009, the Federal Reserve will offer $100 billion in 28-day credit through its Term Auction Facility. PDF file
August 19, 2009
Circular Letter 09-117 Federal Reserve Announces new Schedule of Margins Applicable for Collateral Pledged by Depository Institutions
The Federal Reserve on Wednesday announced a new schedule of margins applicable for collateral pledged by depository institutions to secure discount window and Term Auction Facility loans and for payment system risk purposes. PDF file
August 17, 2009
Circular Letter: 09-116 Federal Reserve and Treasury Department Announce Extension to Term Asset-Backed Securities Loan Facility (TALF)
The Federal Reserve Board and the Treasury Department on Monday announced that they approved an extension to the Term Asset-Backed Securities Loan Facility (TALF) and that, at this time, they do not anticipate any further additions to the types of collateral that are eligible for the facility. PDF file
August 14, 2009
Circular Letter: 09-115 Truth in Lending - Final Rule; Official Staff Commentary
The Board is publishing final rules amending Regulation Z, which implements the Truth in Lending (TILA) following the passage of the Higher Education Opportunity Act (HEOA). PDF file
August 13, 2009
Circular Letter: 09-114 Request for Comment; Correction - Proposed Interagency Guidance - Funding and Liquidity Risk Management
This notice corrects the notice published on July 6, 2009 on the proposed guidance on funding and liquidity risk management. PDF file
August 12, 2009
Circular Letter: 09-113 Regulation Z - Truth in Lending
The Board is publishing a final rule amending the staff commentary that interprets the requirements of Regulation Z (Truth in Lending). PDF file
August 11, 2009
Circular Letter: 09-112 Results of the August 10, 2009 Term Auction Facility
On August 10, 2009, the Federal Reserve conducted an auction of $100 billion in 84-day credit through its Term Auction Facility. PDF file
August 10, 2009
Circular Letter: 09-111 Annual Adjustment of Fee-Based Trigger for Additional Mortgage Loan Disclosures
The Federal Reserve Board on August 10, 2009 published its annual adjustment of the dollar amount of fees that triggers additional disclosure requirements under the Truth in Lending Act for home mortgage loans that bear rates or fees above a certain amount. PDF file
August 10, 2009
Circular Letter: 09-110 Federal Reserve Offers $100 billion in 84-day Credit Through its Term Auction Facility
On August 10, 2009, the Federal Reserve will offer $100 billion in 84-day credit through its Term Auction Facility. PDF file
August 6, 2009
Circular Letter: 09-109 Board Publishes "5 Tips" for Dealing with a Home Equity Line Freeze or Reduction
Homeowners in all regions of the United States are seeing their home equity lines of credit (HELOCs) frozen or reduced and wondering what they can do about it. PDF file
August 5, 2009
Circular Letter: 09-108 Federal Reserve Balance Sheet Data are now Available Through Interactive Data Download
The Federal Reserve Board on August 5, 2009 announced that data from its H.4.1 statistical release, "Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks," which includes the weekly publication of the Federal Reserve's balance sheet, is now available through the Data Download Program. PDF file
July 30, 2009
Circular Letter: 09-107 Federal Reserve Approves Final Amendments to Regulation Z that Revise Disclosure Requirements for Private Education Loans
The Federal Reserve Board on July 30, 2009 approved final amendments to Regulation Z (Truth in Lending) that revise the disclosure requirements for private education loans. PDF file
July 29, 2009
Circular Letter: 09-106 Board Publishes "5 Tips for Shopping for a Mortgage"
Buying a home should be a dream come true not a nightmare of worry and stress. PDF file
July 28, 2009
Circular Letter: 09-105 Results of the July 27, 2009 Term Auction Facility
On July 27, 2009, the Federal Reserve conducted an auction of $125 billion in 28-day credit through its Term Auction Facility. PDF file
July 27, 2009
Circular Letter: 09-104 Federal Reserve offers $125 billion in 28-day credit through its Term Auction Facility
On July 27, 2009, the Federal Reserve will offer $125 billion in 28-day credit through its Term Auction Facility. PDF file
July 24, 2009
Circular Letter: 09-103 Federal Reserve Announces that Amounts of Term Auction Facility Credit Offered at each of the Two August Auctions will be Reduced to $100 Billion
The Federal Reserve on July 24, 2009 announced that the amounts of Term Auction Facility (TAF) credit offered at each of the two auctions in August will be reduced to $100 billion from $125 billion in July. PDF file
July 23, 2009
Circular Letter: 09-102 Federal Reserve Proposes Significant Changes to Regulation Z (Truth in Lending)
The Federal Reserve Board on July 23, 2009 proposed significant changes to Regulation Z (Truth in Lending) intended to improve the disclosures consumers receive in connection with closed-end mortgages and home-equity lines of credit (HELOCs). PDF file
July 22, 2009
Circular Letter: 09-101 Regulation Z, Truth in Lending, Interim Rule, Request for Comments
The Board is amending Regulation Z, which implements the Truth in Lending Act, and the staff commentary to the regulation in order to implement provisions of the Credit Card Accountability Responsibility and Disclosure Act of 2009 that are effective on August 20, 2009. PDF file
July 21, 2009
Circular Letter: 09-100 Agencies Release Revisions to Interagency Questions and Answers and Proposed New Questions Regarding Flood Insurance
The federal bank, thrift, credit union, and Farm Credit System regulatory agencies on July 21, 2009 released revised interagency questions and answers regarding flood insurance and requested public comment on several new ones. PDF file
July 15, 2009
Circular Letter: 09-99 Board Issues Interim Final Rule Amending Credit Card Provisions of Regulation Z
The Federal Reserve Board on July 15, 2009, approved an interim final rule amending Regulation Z (Truth in Lending) to require creditors to increase the amount of notice consumers receive before the rate on a credit card account is increased or a significant change is made to the account's terms. PDF file
July 14, 2009
Circular Letter: 09-98 Results of the July 13, 2009 Term Auction Facility
On July 13, 2009, the Federal Reserve conducted an auction of $125 billion in 84-day credit through its Term Auction Facility. PDF file
July 13, 2009
Circular Letter: 09-97 Federal Reserve Offers $125 billion in 84-day credit through its Term Auction Facility
On July 13, 2009, the Federal Reserve will offer $125 billion in 84-day credit through its Term Auction Facility. PDF file
July 8, 2009
Circular Letter: 09-96 Joint Statement by the Treasury, Federal Reserve, and FDIC on the Legacy Securities Public-Private Investment Program
The Financial Stability Plan, announced in February, outlined a freamwork to bring capital into the financial system and address the problem of legacy real estate-related issues. PDF file
July 8, 2009
Circular Letter: 09-95 Fair Credit Reporting Affiliate Marketing Regulations; Identity Theft Red Flags and Address Discrepancies Under the Fair and Accurate Credit Transactions Act of 2003; Correction
The OCC, Board, FDIC, OTS, NCUA, and Commission published in the Federal Register on May 14, 2009 a technical correction to final rules to implement the affiliate marketing provisions and identity theft red flags and address discrepancy provisions of the Fair and Accurate Credit Transactions Act of 2003 (FACT Act). PDF file
July 2, 2009
Circular Letter: 09-94 Agencies Publish Final Rules and Guidelines to Promote Accurate Reports About Consumers
The federal financial regulatory agencies and the Federal Trade Commission yesterday published final rules and guidelines to promote the accuracy and integrity of information furnished to credit bureaus and other consumer reporting agencies, and widely used to determine consumers' eligiblity for credit, employment, insurance, and rental housing. PDF file
July 1, 2009
Circular Letter: 09-93 Guidelines for Furnishers of Information to Consumer Reporting Agencies
The OCC, Board, FDIC, OTS, NCUA, and FTC (Agencies) request comment to gather information that would assist the Agencies in considering the development of a possible proposed addition to the furnisher accuracy and integrity guidelines that were issued in today's Federal Register. PDF file
July 1, 2009
Circular Letter: 09-92 Procedures To Enhance the Accuracy and Integrity of Information Furnished to Consumer Reporting Agencies
The OCC, Board, FDIC, OTS, NCUA, and FTC (Agencies) are publishing these final rules to implement the accuracy and integrity and direct dispute provisions in section 312 of the Fair and Accurate Credit Transactions Act of 2003 (FACT Act) that amended section 623 of the Fair Credit Reporting Act (FCRA). PDF file
June 30, 2009
Circular Letter: 09-88 Risk-Based Capital Guidelines; Capital Adequacy Guidelines; Capital Maintenance; Capital--Residential Mortgage Loans Modified Pursuant to the Making Home Affordable Program
To support and facilitate the timely implementation and acceptance of the Making Home Affordable Program announced by the U.S. Department of the Treasury and to promote the stability of banks, savings associations, bank holding companies, and the financial system, the agencies have adopted this interim final rule. PDF file
June 30, 2009
Circular Letter: 09-91 Agencies Seek Comment on Proposed Interagency Guidelines on Funding and Liquidity Risk Management
The federal bank, thrift, and credit union regulatory agencies are seeking comment on the proposed Interagency Guidance on Funding and Liquidity Risk Management. PDF file
June 30, 2009
Circular Letter: 09-90 Federal Reserve Announces Results of the June 29, 2009 Term Auction Facility
On June 29, 2009, the Federal Reserve conducted an auction of $150 billion in 28-day credit through its Term Auction Facility. PDF file
June 30, 2009
Circular Letter: 09-89 Community Reinvestment Act Regulations - Joint Notice of Proposed Rulemaking
The OCC, the Board, the FDIC, and the OTS (collectively, "the Agencies") are issuing this notice of proposed rulemaking that would revise our rules implementing the Community Reinvestment Act (CRA). PDF file
June 29, 2009
Circular Letter: 09-87 Banking Agencies Issue Host State Loan-to-Deposit Ratios
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. PDF file
June 29, 2009
Circular Letter: 09-86 Federal Reserve Offers $150 billion in 28-day Credit Through its Term Auction Facility
On June 29,2009, the Federal Reserve will offer $150 billion in 28-day credit through its Term Auction Facility. PDF file
June 26, 2009
Circular Letter: 09-85 Agencies Issue Interim Final Rule for Mortgage Loans Modified Under the Making Home Affordable Program
The federal bank and thrift regulatory agencies today invited public comment on an interim final rule that provides that mortgage loans modified under the U.S. Department of the Treasury's Making Home Affordable Program (MHAP) will retain the risk weight applicable before modification. PDF file
June 26, 2009
Circular Letter: 09-84 Results of the 2009 Special Election of a Class B Federal Reserve Bank Director
Group 2 member banks in the Fourth Federal Reserve District have elected one member to the Federal Reserve Bank of Cleveland's Board of Directors. PDF file
June 25, 2009
Circular Letter: 09-83 Federal Reserve Announces Extensions of and Modifications to a Number of its Liquidity Programs
The Federal Reserve on Thursday announced extensions of and modifications to a number of its liquidity programs. PDF file
June 24, 2009
Circular Letter: 09-82 Agencies Announce Proposed Revisions to Regulations Implementing the Community Reinvestment Act
The federal bank and thrift regulatory agencies today proposed revisions to regulations implementing the Community Reinvestment Act (CRA) to require the agencies to consider low-cost education loans provided to low-income borrowers when assessing a financial institution's record of meeting community credit needs. PDF file
June 16, 2009
Circular Letter: 09-81 Results of the June 15, 2009 Term Auction Facility
On June 15, 2009, the Federal Reserve conducted an auction of $150 billion in 84-day credit through its Term Auction Facility. PDF file
June 15, 2009
Circular Letter: 09-80 Federal Reserve Offers $150 Billion in 84-day Credit Through Its Term Auction Facility
On June 15, 2009, the Federal Reserve will offer $150 billion in 84-day credit through its Term Auction Facility. PDF file
June 12, 2009
Circular Letter: 09-79 Federal Reserve Responds to New Accounting Standards
The Federal Reserve notes the Financial Accounting Standards Board's publication today of Statements of Financial Accounting Standards No. 166 and 167 (FAS 166 and 167), which will have a material effect on banking organizations' accounting for off-balance sheet vehicles. PDF file
June 11, 2009
Circular Letter: 09-78 Agencies Issue Frequently Asked Questions on Identify Theft Rules
Six federal agencies issued a set of frequently asked questions (FAQs) today to help financial institutions, creditors, users of consumer reports, and issuers of credit cards and debit cards comply with federal regulations on identity theft and discrepancies in changes of address. PDF file
June 10, 2009
Circular Letter: 09-77 Federal Reserve Issues First Monthly Report on its Credit and Liquidity Programs
The Federal issued the first of an ongoing series of monthly reports providing considerable new information on its credit and liquidity programs. PDF file
June 9, 2009
Circular Letter: 09-75 Registration of Mortgage Loan Originators - Request for Comment
The OCC, Board, FDIC, OTS, FCA, and NCUA (collectively, the Agencies) are proposing amendments to their rules to implement the Secure and Fair Enforcement for Mortgage Licensing Act (the S.A.F.E. Act). PDF file
June 8, 2009
Circular Letter: 09-76 Special Election of Federal Reserve Bank Class B Director
A special election is being held to choose one Class B director of this Reserve Bank to fill an unexpired term. PDF file
June 8, 2009
Circular Letter: 09-74 Banking Organizations have Submitted Capital Plans to Bolster Their Capital Buffers as Required by the Supervisory Capital Assessment Program
The 10 banking organizations required by the Supervisory Capital Assessment Program to bolster their capital buffers have all submitted capital plans that, if implemented, would provide sufficient capital to meet the required buffer under the assessment's more-adverse scenario. PDF file
June 2, 2009
Circular Letter: 09-73 Results of the June 1, 2009 Term Auction Facility
On June 1, 2009, the Federal Reserve conducted an auction of $150 billion in 28-day credit through its Term Auction Facility. PDF file
June 1, 2009
Circular Letter: 09-72 Federal Reserve Outlines Criteria it Will Use to Evaluate Applications to Redeem U.S. Treasury Capital from the 19 Bank Holding Companies that Participated in the Supervisory Capital Assessment Program (SCAP)
The Federal Reserve Board on June 1, 2009 outlined the criteria it will use to evaluate applications to redeem U.S. Treasury capital from the 19 bank holding companies (BHC) that participated in the Supervisory Capital Assessment Program (SCAP). PDF file
June 1, 2009
Circular Letter: 09-71 Agencies Propose Rule to Implement S.A.F.E. Act Mortgage Loan Originators Registration Requirements - Request for Comment
The Federal financial institution regulatory agencies are together issuing for public comment proposed rules requiring mortgage loan originators who are employes of agency-related institutions to meet the registration requirements of the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (S.A.F.E. Act). PDF file
June 1, 2009
Circular Letter: 09-70 Federal Reserve Offers $150 Billion in 28-day credit through its Term Auction Facility
On June 1, 2009, the Federal Reserve will offer $150 billion in 28-day credit through its Term Auction Facility. PDF file
June 1, 2009
Circular Letter: 09-69 Regulation Y - Capital Adequacy Guidelines: Treatment of Perpetual Preferred Stock Issued to the United States Treasury Under the Emergency Economic Stabilization Act of 2008
The Board is adopting a final rule to allow bank holding companies that have issued senior perpetual stock to the U. S. Department of the Treasury under the capital purchase and other programs established by the Secretary of the Treasury under the Economic Stabilization Act of 2008, to include such capital instruments in tier 1 capital for purposes of the Board's risk- based and leverage capital guidelines for bank holding companies. PDF file
June 1, 2009
Circular Letter: 09-68 Regulation Y - Capital Adequacy Guidelines; Small Bank Holding Company Statement: Treatment of Subordinate Securities Issued to the United States Treasury Under the Emergency Economic Stabilization Act of 2008
The Board has adopted, and is seeking public comment on an interim final rule (interim final rule or rule)to support in a timely manner, the full implementation and acceptance of the capital purchase program of the U.S. Department of Treasury (Treasury) and promote the stablity of banking organizations and the financial system. PDF file
May 29, 2009
Circular Letter: 09-67 Regulation D - (Reserve Requirements of Depository Institutions) and Regulation I (Issue and Cancellation of Federal Reserve Bank Capital Stock) - Final Rule
The Board is amending Regulation D (Reserve Requirements of Depository Institutions) and Regulation I (Issue and Cancellation of Federal Reserve Bank Capital Stock) to make two substantive changes and other clarifying amendments. PDF file
May 29, 2009
Circular Letter: 09-66 Regulation D - Reserve Requirements of Depository Institutions - Final Rule
The Board is adopting, with certain revisions, its interim final rule that amended Regulation D (Reserve Requirements of Depository Institutions) to direct Federal Reserve Banks to pay interest on certain balances held at Federal Reserve Banks by or on behalf of certain depository institutions. PDF file
May 22, 2009
Circular Letter: 09-65 Federal Reserve announces final rule on senior perpetual preferred stock issued by banking holding companies to the Treasury and an interim final rule on subordinated debt issued by S-Corp and mutual bank holding companies to Treasury
The Federal Reserve Board on May 22, 2009 announced the adoption of a final rule that will allow bank holding companies to include in their Tier 1 capital without restriction senior perpetual preferred stock issued to the U.S. Treasury Department under the Troubled Asset Relief Program (TARP). PDF file
May 20, 2009
Circular Letter: 09-64 Board Announces Approval of Final Amendments to Regulation D Pertaining to Transfers from Savings Deposits and the Establishment of Excess Balance Accounts at Federal Reserve Banks
The Federal Reserve Board on Wednesday announced the approval of final amendments to Regulation D (Reserve Requirements of Depository Institutions) to liberalize the types of transfers consumers can make from savings deposits and to make it easier for community banks that use correspondent banks to receive interest on excess balances held at Federal Reserve Banks. PDF file
May 19, 2009
Circular Letter: 09-63 Federal Reserve Announces That Certain High-Quality Commercial Mortgage-Backed Securities Will Become Eligible Collateral Under the Term Asset-Backed Securities Loan Facility (TALF)
The Federal Reserve Board on May 19, 2009 announced that, starting in July, certain high-quality commercial mortgage-backed securities issued before January 1, 2009 (legacy CMBS) will become elegible collateral under the Term Asset-Backed Securities Loan Facility (TALF). PDF file
May 19, 2009
Circular Letter: 09-62 Board Approves Final Rule Revising Disclosure Requirements for Mortgage Loans Under Regulation Z
On July 30, 2008, the Board published a final rule amending Regulation Z, which implements the Truth in Lending Act (TILA) and the Home Ownership and Equity Protection Act (HOEPA). PDF file
May 19, 2009
Circular Letter: 09-61 Results of the May 18, 2009 Term Auction Facility
On May 18, 2009, the Federal Reserve conducted an auction of $150 billion in 84-day credit through its Term Auction Facility. PDF file
May 18, 2009
Circular Letter: 09-60 Federal Reserve Offers $150 billion in 84-day credit through its Term Auction Facility
On May 18, 2009, the Federal Reserve will offer $150 billion in 84-day credit through its Term Auction Facility. PDF file
May 7, 2009
Circular Letter: 09-59 Federal Reserve, OCC, and FDIC Release Results of the Supervisory Capital Assessment Program
The results of a comprehensive, forward-looking assessment of the financial conditions of the nation's 19 largest bank holding companies (BHCs) by the federal bank supervisory agencies were released on Thursday, May 7, 2009. PDF file
May 6, 2009
Circular Letter: 09-58 Joint Statement by the Federal Reserve, Treasury, FDIC, and OCC on Treasury Capital Assistance Program and Supervisory Capital Assessment Program
During this period of extraordinary economic uncertainty, the U.S. federal banking supervisors believe it to be important for the largest U.S. bank holding companies (BHCs) to have a capital buffer sufficient to withstand losses and sustain lending even in a significantly more adverse economic environment than is currently anticipated. PDF file
May 5, 2009
Circular Letter: 09-57 Unfair or Deceptive Acts or Practices, Clarification - Proposed Rule - Request for Comment
In December 2008, the Board, OTS, and NCUA (collectively, the Agencies) exercised their authority under the Federal Trade Commission Act to issue a final rule prohibiting institutions from engaging in specific acts or practices in connection with consumer credit card accounts. PDF file
May 5, 2009
Circular Letter: 09-56 Regulation Z - Truth in Lending - Proposed Rule - Request for Comment
On December 18, 2008, the Board adopted a final rule amending Regulation Z's provisions that apply to open-end (not home-secured) credit plans. PDF file
May 5, 2009
Circular Letter: 09-55 Results of the May 4, 2009 Term Auction Facility
On May 4, 2009, the Federal Reserve conducted an auction of $150 billion in 28-day credit through its Term Auction Facility. Following are the results of the auction: PDF file
May 4, 2009
Circular Letter: 09-54 Federal Reserve Offers $150 billion in 28-day credit through its Term Auction Facility
On May 4, 2009, the Federal Reserve will offer $150 billion in 28-day credit through its Term Auction Facility. PDF file
May 1, 2009
Circular Letter 09-53 Federal Reserve Announces Expansion of Eligible Collateral Under the Term Asset-Backed Securities Loan Facility (TALF)
Federal Reserve Announces Expansion of Eligible Collateral Under the Term Asset-Backed Securities Loan Facility (TALF) PDF file
May 1, 2009
Circular Letter: 09-52 Nominations for Special Election of Federal Reserve Bank Class B Director
The following Federal Reserve Bank of Cleveland Class B director has resigned her term (which ends on December 31, 2009): V, Ann Hailey, retired executive vice president, corporate development, Limited Brands, Columbus, Ohio PDF file
April 24, 2009
Circular Letters: 09-51 Board Publishes White Paper on Process and Methodologies Employed by Federal Banking Supervisory Agencies in Capital Assessment of Large U.S. Bank Holding Companies
A white paper describing the process and methodologies employed by the federal banking supervisory agencies in their forward-looking capital assessment of large U.S. bank holding companies was published on Friday. PDF file
April 22, 2009
Circular Letters: 09-50 Federal Reserve Announces Two New Interest Rates Applicable to Loans Extended Under the Term Asset-Backed Securities Loan Facility (TALF)
The Federal Reserve Board announced two new interest rates applicable to loans extended under the Term Asset-Backed Securities Loan Facility (TALF). PDF file
April 21, 2009
Circular Letters: 09-49 Results of the April 20, 2009 Term Auction Facility
On April 20, 2009, the Federal Reserve conducted an auction of $150 billion in 84-day credit through its Term Auction Facility. PDF file
April 20, 2009
Circualr Letters: 09-48 Federal Reserve Offers $150 billion in 84-day Credit Through Its Term Auction Facility
On April 20, 2009, the Federal Reserve will offer $150 billion in 84-day credit through its Term Auction Facility. PDF file
April 17, 2009
Circular Letters: 09-47 Regulation DD — Truth in Savings – Correction
On January 29, 2009, the Board published final rules amending Regulation DD, which implements the Truth in Savings Act, and the official staff commentary to the regulation. PDF file
April 16, 2009
Circular Letters: 09-46 Board Announces Availability of new Video “Lessons from a Storm”
The Federal Reserve Board on Thursday announced the availability of a new video, "Lessons from a Storm," that tells the stories of families who, in the aftermath of Hurricane Katrina, learned about the benefits of maintaining a bank account that allows for the direct deposit of payments and benefits. PDF file
April 8, 2009
Circular Letters: 09-45 Changes to the Discount Window & Payment System Risk Collateral Margins Table
In 2005, the Federal Reserve announced the implementation of separate valuation processes for loans pledged in a designated format through our Automated Loan Deposit (ALD) process or "individually deposited," versus loans pledged in an alternative format or "group deposited." PDF file
April 8, 2009
Circular Letters: 09-44 Results of the April 6, 2009 Term Auction Facility
On April 6, 2009, the Federal Reserve conducted an auction of $150 billion in 28-day credit through its Term Auction Facility. PDF file
April 6, 2009
Circular Letters: 09-43 Federal Reserve Will Offer $150 Billion in 28-day Credit through its Term Auction Facility
On April 6, 2009, the Federal Reserve will offer $150 billion in 28-day credit through its Term Auction Facility. PDF file
April 6, 2009
Circular Letters: 09-42 Federal Reserve Bank Services Private Sector Adjustment Factor - Request for Public Comment
The Board requests comment on proposed modifications to its method for calculating the private-sector adjustment factor (PSAF). PDF file
09-41 SR 09-4 Revised March 27, 2009 — Applying Supervisory Guidance and Regulations on the Payment of Dividends, Stock Redemptions, and Stock Repurchases at Bank Holding Companies
This letter is intended to provide direction to supervisory staff and bank holding companies (BHCs) on the declaration and payment of dividends, capital redemptions, and capital repurchases by BHCs in the context of their capital planning processes. PDF file
Circular Letters: 09-40 Results of the March 23, 2009 Term Auction Facility
On March 23, 2009, the Federal Reserve conducted an auction of $150 billion in 84-day credit through its Term Auction Facility. PDF file
Circular Letters: 09-39 Regulation Z — Truth in Lending — Proposed Rule — Request for Comment
The Board proposes to amend Regulation Z, which implements the Truth in Lending Act (TILA) following the passage of the Higher Education Opportunity Act (HEOA). PDF file
Circular Letters: 09-38 Final Capital Adequacy Guidelines: Trust Preferred Securities and the Definition of Capital; Delay of Implementation Date
This final rule delays the March 31, 2009, implementation date for certain amendments to the Board's capital adequacy guidelines for bank holding companies on trust preferred securities and the definition of capital published by the Board in the Federal Register on March 10, 2005. PDF file
Circular Letters: 09-37 Joint Statement by Treasury and Federal Reserve on the Federal Reserve’s Role in Preserving Financial and Monetary Stability
Sound economic performance requires both financial stability and monetary stability. PDF file
Circular Letters: 09-36 Federal Reserve Offers $150 Billion in 84-day credit through its Term Auction Facility
On March 23, 2009, the Federal Reserve will offer $150 billion in 84-day credit through its Term Auction Facility. PDF file
Circular Letters: 09-35 Board Announces that the Set of Eligible Collateral for Loans Extended by the Term Asset Backed Securities Loan Facility (TALF) is Being Expanded to Include Four Additional Categories of Asset-Backed Securities (ABS)
The Federal Reserve Board announced that the set of eligible collateral for loans extended by the Term Asset-Backed Securities Loan Facility (TALF) is being expanded to include four additional categories of asset-backed securities (ABS) Read More
Circular Letters: 09-34 Board Adopts Final Rule that Delays Until March 31, 2011, the Effective Date of New Limits on the Inclusion of Trust Preferred Securities and Other Restricted Core Capital Elements in Tier 1 Capital
The Federal Reserve Board announced the adoption of a final rule that delays until March 31, 2011, the effective date of new limits on the inclusion of trust preferred securities and other restricted core capital elements in tier 1 capital of bank holding companies (BHCs). PDF file
Circular Letter: 09-33 Revised Results of the March 9, 2009 Term Auction Facility
(Note: This release supersedes the release of 10 a.m. EDT March 10, 2009. The figures in the previous release for total propositions submitted, total propositions accepted and the bid/cover ratio have been revised to correct a processing error.) PDF file
Circular Letters: 09-32 Results of the March 9, 2009 Term Auction Facility
On March 9, 2009, the Federal Reserve conducted an auction of $150 billion in 28-day credit through its Term Auction Facility. PDF file
Circular Letters: 09-31 Federal Reserve will Offer $150 Billion in 28-day credit Through Its Term Auction Facility
On March 9, 2009, the Federal Reserve will offer $150 billion in 28-day credit through its Term Auction Facility. PDF file
Circular Letters: 09-30 Board has Compiled Some Tips to Help Protect Consumers From Foreclosure Scams
Reports of mortgage foreclosure scams are on the rise. Knowing what to watch for and where to turn for help is vital for families who are struggling to remain in their homes. PDF file
March 4, 2009
Circular Letter: 09-29 Federal Financial Regulatory Agencies Issue Statement in Support of the ?Making Home Affordable? Loan Modification Program
The federal bank, thrift, and credit union regulatory agencies encourage all federally regulated financial institutions that service or hold residential mortgage loans to participate in the "Making Home Affordable" loan modification program. PDF file
Circular Letters: 09-28 Treasury and Federal Reserve Announce Launch of Term Asset-Backed Securities Loan Facility (TALF)
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). PDF file
March 2, 2009
Circular Letters: 09-27 Applying Supervisory Guidance and Regulations on the Payment of Dividends, Stock Redemptions, and Stock Repurchases at Bank Holding Companies
This letter is intended to provide direction to supervisory staff and bank holding companies (BHCs) on the declaration and payment of dividends, capital repurchases, and capital redemptions by BHCs in the context of their capital planning processes. PDF file
Circular Letters: 09-26 Agencies to Begin Forward-Looking Economic Assessments
The federal bank regulatory agencies announced today that they will start conducting forward-looking economic assessments of large U.S. banking organizations as the Capital Assistance Program (CAP) gets underway. PDF file
Circular Letters: 09-25 Results of the February 23, 2009 Term Auction Facility
On February 23, 2009, the Federal Reserve conducted an auction of $150 billion in 84—day credit through its Term Auction Facility. PDF file
Circular Letters: 09-24 Board Launches New Website Section on Credit and Liquidity Programs and the Balance Sheet
The Federal Reserve Board launched a new section of its website expanding the information provided about the policy tools the Federal Reserve has employed to address the financial crisis and simplifying access to that information. PDF file
Circular Letters: 09-23 Term Auction Facility
On February 23, 2009, the Federal Reserve will offer $150 billion in 84–day credit through its Term Auction Facility. PDF file
Circular Letters: 09-22 Joint Statement by the Treasury, FDIC, OCC, OTS, and the Federal Reserve on the Capital Assistance Program
The U.S. Department of the Treasury, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the Office of Thrift Supervision, and the Federal Reserve Board today issued the following joint statement: PDF file
February 10, 2009
Circular Letter: 09-21 Federal Reserve is Prepared to Expand the Term Asset-Backed Securities Loan Facility (TALF)
The Federal Reserve Board announced that it is prepared to undertake a substantial expansion of the Term Asset-Backed Securities Loan Facility (TALF). PDF file
February 10, 2009
Circular Letter: 09-20 Results of the Term Auction Facility
On February 9, 2009, the Federal Reserve conducted an auction of $150 billion in 28-day credit through its Term Auction Facility. PDF file
February 9, 2009
Circular Letter: 09-19 Term Auction Facility
On February 9, 2009, the Federal Reserve will offer $150 billion in 28-day credit through its Term Auction Facility. PDF file
Circular Letters: 09-18 Federal Reserve Releases Additional Terms and Conditions of the Asset–Backed Securities Loan Facility (TALF)
The Federal Reserve Board on Friday released additional terms and conditions — including loan rates and collateral haircuts — of the Term Asset–Backed Securities Loan Facility (TALF). PDF file
Circular Letters: 09-17 Regulation W – Transactions Between Member Banks and Their Affiliates: Exemption for Certain Purchases of Asset–Backed Commercial Paper by a Member Bank From an Affiliate — Final Rule
To reduce liquidity and other strains being experienced by money market mutual funds, the Board of Governors of the Federal Reserve System (Board) adopted on September 19, 2008, the Asset–Backed Commercial Paper Money Market Mutual Fund Lending Facility (AMLF), that enables depository institutions and bank holding companies to borrow from the Federal Reserve Bank of Boston on a non–recourse basis if they use the proceeds of the loan to purchase certain types of asset–backed commercial paper (ABCP) from money market mutual funds. PDF file
Circular Letters: 09-16 Regulation H and Y — Risked Based Capital Guidelines; Leverage Capital Guidelines — Final Rule
To reduce liquidity and other strains being experienced by money market mutual funds, the Board of Governors of the Federal Reserve System (Board) adopted on September 19, 2008, the Asset–Backed Commercial Paper Money Market Mutual Fund Lending Facility (AMLF), that enables depository institutions and bank holding companies to borrow from the Federal Reserve Bank of Boston on a non–recourse basis if they use the proceeds of the loan to purchase certain types of asset–backed commercial paper (ABCP) from money market mutual funds PDF file
February 3, 2009
Circular Letters: 09-15 Federal Reserve Announces Extension through October 30, 2009 of its Existing Liquidity Programs that were Scheduled to Expire on April 30, 2009
The Federal Reserve announced the extension through October 30, 2009, of its existing liquidity programs that were scheduled to expire on April 30, 2009. PDF file
February 3, 2009
Circular Letters: 09-14 Debt Guaranteed under the Federal Deposit Insurance Corporation?s (FDIC) Temporary Liquidity Guarantee Program
This letter pertains to eligible bank and financial holding companies that are participating in the Debt Guarantee Program (TLG Program). PDF file
January 30, 2009
Circualr Letters: 09-13 Regulation D — Reserve Requirements of Depository Institutions; Notice of Proposed Rulemaking; Request for Comment
The Board is requesting public comment on proposed amendments to Regulation D, Reserve Requirements of Depository Institutions, to authorize the establishment of limited–purpose accounts at Federal Reserve Banks (“Reserve Banks”) for the maintenance of excess balances of eligible institutions (both as defined in Regulation D). PDF file
January 29, 2009
Circular Letters: 09-12 Regulation E Electronic Fund Transfer ? Proposed Rule ? Request for Comment
The Board is proposing to amend Regulation E, which implements the Electronic Fund Transfer Act, and the official staff commentary to the regulation, which interprets the requirements of Regulation E. PDF file
January 29, 2009
Circular Letters: 09-11 Regulation AA ? Unfair or Deceptive Acts or Practices ? Final Rule
The Board, OTS, and NCUA (collectively, the Agencies) are exercising their authority under section 5(a) of the Federal Trade Commission Act to prohibit unfair or deceptive acts or practices. PDF file
January 29, 2009
Circular Letters: 09-10 Regulation DD ? Truth in Savings ? Final Rule ? Official Staff Commentary
The Federal Reserve Board (Board) is amending Regulation DD, which implements the Truth in Savings Act, and the official staff commentary to the regulation to require all depository institutions to disclose aggregate overdraft fees on periodic statements, and not solely institutions that promote the payment of overdrafts. PDF file
January 29, 2009
Circular Letters: 09-09 Regulation Z - Truth in Lending - Final Rule
The Board is amending Regulation Z, which implements the Truth in Lending Act (TILA), and the staff commentary to the regulation, following a comprehensive review of TILA's rules for open-end (revolving) credit that is not home-secured. PDF file
January 27, 2009
Circular Letter: 09-08 Results of the January 26, 2009 Term Auction
On January 26, 2009, the Federal Reserve conducted an auction of $150 billion in 84–day credit through its Term Auction Facility. PDF file
January 26, 2009
Circular Letters: 09-07 Federal Reserve Will Offer $150 Billion in 84–day Credit through its Term Auction Facility
On January 26, 2009, the Federal Reserve will offer $150 billion in 84–day credit through its Term Auction Facility. PDF file
January 21, 2009
Circular Letters: 09-06 SR 09-02 FFIEC Guidance Addressing Risk Management of Remote Deposit Capture Activities
The Federal Financial Institutions Examination Council (FFIEC) member agencies issued guidance today for use by financial institutions, technology service providers, and examiners to identify risks in financial institutions? remote deposit capture (RDC) systems and to evaluate the adequacy of associated controls and applicable risk management practices. PDF file
January 21, 2009
Circular Letters: 09-05 SR 09-01 Application of the Market Risk Rule in Bank Holding Companies and State Member Banks
The Federal Reserve's market risk rule (MRR) establishes regulatory capital requirements for bank holding companies (BHCs) and state member banks (collectively, banking organizations) with significant exposure to certain market risks. PDF file
January 13, 2009
Circular Letters: 09-04 Results of the January 12, 2009 Term Auction Facility
On January 12, 2009, the Federal Reserve conducted an auction of $150 billion in 28-day credit through its Term Auction Facility. PDF file
January 12, 2009
Circular Letters: 09-03 Federal Reserve Will Offer $150 Billion in 28-day Credit through its Term Auction Facility
On January 12, 2009, the Federal Reserve will offer $150 billion in 28-day credit through its Term Auction Facility. PDF file
January 7, 2009
Circular Letter: 09-02 Changes to Money Market Investor Funding Facilities (MMIFF)
Changes to Money Market Investor Funding Facilities (MMIFF). PDF file
January 6, 2009
Circular Letters: 09-01 Community Reinvestment Act; Interagency Questions and Answers Regarding Community Reinvestment; Notice
The OCC, Board, FDIC, and OTS (the agencies) are adopting as final the Interagency Questions and Answers Regarding Community Reinvestment (Questions and Answers) that were proposed on July 11, 2007. PDF file

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Circular Letters

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2009