Regulators Create Exam Procedures for Reviewing Customer Identification Programs

U.S. Treasury’s New Investment Option Offers Multiple Benefits

Interactive Features on Our Web Site Enhance Two-Way Communication

Federal Reserve Announces New Deposit Guidelines for Non-Imageable Check Items

St. Louis Fed Establishes Fuel Surcharges for Cash Letters

New Guide Warns Consumers about Internet “Phishing”

Does Inflation Targeting Make a Difference?

Regional Roundup

FedFacts

Calendar

FOMC Announces 2005 Meeting Schedule

The Federal Open Market Committee has announced its tentative meeting schedule for 2005:

• Feb. 1-2
• March 22
• May 3
• June 29-30
• Aug. 9
• Sept. 20
• Nov. 1
• Dec. 13

More information can be found at www.federalreserve.gov/boarddocs/press/monetary/2004/.

St. Louis Fed Publishes 2005 Holiday Schedule

The 2005 holiday schedule is as follows:

Note: New Year’s Day does not appear on the 2005 legal holiday schedule because it falls on a Saturday.

Federal Reserve Board Announces Appointments for 2005

The Federal Reserve Board has announced the appointments of the chairmen and deputy chairmen of the 12 Federal Reserve Banks for 2005. In the Eighth District, Walter L. Metcalfe Jr., chairman, Bryan Cave LLP, St. Louis, Mo., was renamed chairman. Gayle P. W. Jackson, managing director, FondElec Clean Energy Group Inc., St. Louis, Mo., was renamed deputy chairman. The list of all appointees can be found at: www.federalreserve.gov/boarddocs/press/other/2004/20041027/default.htm.

New Brochure Explains Overdraft Plans and Fees

The Federal Reserve Board of Governors has published a new consumer brochure called Protecting Yourself from Overdraft and Bounced-Check Fees. The brochure explains the different plans financial institutions may offer to help customers when they overdraw their accounts. It also describes the types of fees customers will pay for courtesy overdraft protection, bounce coverage and other such plans. The brochure can be found at www.federalreserve.gov/pubs/bounce/default.htm.

Light-Rail Study Is Available Online

Over the past several decades, cities across America have constructed light-rail systems as a means of reducing traffic congestion and promoting economic development. In his report, Light-Rail Transit in America: Policy Issues and Prospects for Economic Development, Fed Senior Economist Tom Garrett discusses whether light rail has lived up to these expectations. The report can be found at www.stlouisfed.org/community/.

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