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Regional Roundup

Fed Facts

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Regional Roundup

The Federal Reserve Bank of St. Louis has announced several changes and reappointments to its board of directors and to the board of directors at each of its Branches.  The following individuals will serve three-year terms:

St. Louis Board: Lunsford W. Bridges, president and chief executive officer of Metropolitan Bank in Little Rock;  Joseph E. Gleissner Jr., executive director of New Directions Housing Corp., in Louisville; Robert L. Johnson, chairman and chief executive officer of Johnson Bryce Inc. in Memphis; and Bradley W. Small, president and chief executive officer of the Farmer's and Merchant's National Bank of Nashville, Ill. 

Little Rock: Cynthia J. Brinkley, president of Arkansas Southwestern Bell Telephone Co.;  David R. Estes, president and chief executive officer of First State Bank of Lonoke, Ark.; and Raymond E. Skelton, regional president of Firstar Bank in Little Rock.

Louisville: Norman E. Pfau Jr., president and chief executive officer of Geo. Pfau's Sons Co. Inc. of Jeffersonville, Ind.; Marjorie Soyugenc*, executive director and chief executive officer of the Welborn Foundation in Evansville, Ind.; and Frank J. Nichols, chairman, president and chief executive officer of the Bank of Benton in Benton, Ky.

Memphis:  Russell Gwatney, president of Gwatney Cos. in Memphis; and E.C. Neelly III, management consultant to First American National Bank in Iuka, Miss.

* Soyugenc will fill the unexpired portion of a three-year term, ending on Dec. 31, 2002.

HMDA Exemption Threshold Increased

The Federal Reserve Board of Governors recently announced that the exemption threshold for depository institutions (DIs) that are required to report data under the Home Mortgage Disclosure Act (HMDA) has been increased to $31 million.  As of Dec. 31, 2001, DIs with assets totaling $31 million or less are not required to collect HMDA data in 2001.  An exemption from collecting data in 2001, however, does not affect a DI's responsibility to report any data for 2000.  For further information, please call Henry Dove at (314) 444-8846.

Fed Redesigns Financial Services Web Site

In response to customer feedback, the Fed recently redesigned its national Financial Services web site, www.frbservices.org, to serve as a single portal for both service information and FedLine® transaction capabilities.  Financial institutions will still be able to access a wide variety of information on Fed products and services.  In addition, authorized users soon will be able to conduct transactions, such as ordering cash or savings bonds.