Financial Institutions can still enroll to participate in the Fed's Functional Cost and Profit Analysis (FCA) program for the 1997 data year. FCA, a cost accounting program to help measure profitability, is now available in two versions: FCA Basic and FCA Plus.
FCA Basic is for institutions that are unfamiliar with cost accounting. For institutions that have experience with cost accounting or have previously participated in FCA and need more analysis, there is FCA Plus. Both programs create a unique customized report for participants, who use the reports as a tool to analyze income and expense by function and to measure performance against a select group of peers.
For more information, call Dan Horton at (314) 444-8629.
The Federal Reserve has announced that as of March 31, 1999, it will eliminate all support for its FLASH-Light product. Originally created in 1990 as a receive-only mechanism, FLASH-Light introduced customers with little or no PC knowledge to the benefits of electronic file receipt. The product is limited, however, because it has no capability to originate transactions.
The Fed encourages current FLASH-Light customers to consider a Fedline connection, preferably the new FedLine for Windows product. For more information, call Marilyn Corona at (314) 444-8883.
In the coming weeks, the Federal Reserve System will distribute to financial institutions a collateral procedures manual to supplement the following Operating Circulars: 7, 8, 9 and 10. The purpose of the manual is to assist institutions in knowing what to do when depositing, withdrawing or substituting collateral pledged for any purpose.