St. Louis Fed Announces New Direction for Its Branches

Financial Institutions Must Convert to Web-Based Reporting

New Regulatory Presence in Memphis Will Increase Access to Fed Examiners

Seasonal Credit Is Available to Community Banks

Federal Reserve Helps Treasury Improve Its Electronic Payments Programs

Regional Roundup

Eighth District Announces Changes to Board of Directors

Why It’s Important to Examine Regional Differences When Measuring Bank Asset Quality

Fed Facts

Calendar /
Out For Comment

Women’s “Money Matters” Workshop

St. Charles, Mo.—March 13, 2004

The theme of this day-long workshop is “Planting Your Financial Future: Seeds for Success.” The workshop is designed for women of all ages and income levels and is sponsored by the Federal Reserve Bank of St. Louis, the University of Missouri Outreach and Extension, St. Charles Community College and The Women’s Financial Education Coalition. For more information, call Jean Morisseau-Kuni at (314) 444-8646 or visit www.stlouisfed.org/community/conferences.html#march

Out for Comment

The following is a Federal Reserve System proposal currently out for comment:

On Jan. 21, the Board of Governors requested public comment on an interagency proposal to revise regulations that implement the Community Reinvestment Act (CRA). The agencies are proposing limited amendments in two areas:

• The definition of “small institution” would be amended to (a) include banks and thrifts with total assets of less than $500 million and (b) eliminate consideration of an institution’s holding company size.
• The proposal would specify when unlawful discrimination, other illegal credit practices, or abusive asset-based lending by a bank or its affiliate might adversely affect the bank’s CRA rating.

The agencies also propose enhancements to the loan data they disclose in CRA public evaluations and disclosure statements. A notice of proposed rule making will be published jointly after it has been acted upon by all of the banking agencies with CRA supervisory responsibilities. More information can be found at www.federalreserve.gov/boarddocs/press/bcreg/2004/20040121/default.htm.

Direct all comments to: Jennifer Johnson, Secretary, Board of Governors of the Federal Reserve System, 20th St. and Constitution Ave., N.W., Washington, D.C. 20551. The deadline for comments is March 31.

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