The FDIC has issued the attached proposed rule that would make certain revisions to the interest rate restrictions under Part 337.6 ("Brokered Deposits") of the FDIC Rules and Regulations.
The U.S. Treasury Department today announced investments of approximately $386 million in 23 banks across the nation as part of its Capital Purchase Program (CPP), a means to directly infuse capital into healthy, viable banks with the goal of increasing the flow of financing available to small businesses and consumers.
The Federal Reserve Board on Tuesday announced the appointment of the chairs and deputy chairs of the twelve Federal Reserve Banks for 2009.
Each Reserve Bank has a nine-member board of directors. The Board of Governors in Washington appoints three of these directors and each year designates one of its appointees...
The Board of Directors of the Federal Deposit Insurance Corporation today proposed for comment a regulatory change in the way the FDIC administers its statutory restrictions on the deposit interest rates paid by banks that are less than Well Capitalized.
In light of President Barack Obama's firm commitment to transparency, accountability and oversight in our government's approach to stabilizing the financial system, U.S. Treasury Secretary Tim Geithner today announced several key reforms to the Emergency Economic Stabilization Act (EESA).
The Board of Directors of the Federal Deposit Insurance Corporation today issued a final rule on processing deposit accounts in the event of failure. The final rule, which is a follow-up to the FDIC's issuance of an interim rule in July 2008, establishes the FDIC's practices for determining, for deposit insurance and...
The Office of Thrift Supervision has revised its Examination Handbook on corporate governance and oversight by the board of directors. This bulletin replaces the regulatory bulletins dated November 30, 2004 and June 13, 2001.
1st Centennial Bank, Redlands, California, was closed today by the California Department of Financial Institutions, which then appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with First California Bank,...
The U.S. Treasury Department announced details this week of a $1.5 billion investment in 39 banks made through its Capital Purchase Program.
Treasury created the Capital Purchase Program, a part of the Troubled Asset Relief Program, to help to stabilize and strengthen the U.S. financial system. Treasury allocated...
The U.S. Government Accountability Office (GAO) today released the biennial update to its list of federal programs, policies, and operations that are at "high risk" for waste, fraud, abuse, and mismanagement or in need of broad-based transformation.
Summary of statement by Gene L. Dodaro, Acting Comptroller General of the United States:
Several key changes in financial markets and products in recent decades have highlighted significant limitations and gaps in the existing regulatory system.
The Office of the Comptroller of the Currency today announced its 2009 schedule of workshops for national community bank directors.
"These are extraordinary and challenging times in the financial services industry. Never has it been more important for new directors of community banks to obtain a secure...
Bank of Clark County, Vancouver, Washington, was closed today by the Washington Department of Financial Institutions, and the Federal Deposit Insurance Corporation (FDIC) was named receiver.
National Bank of Commerce, Berkeley, Illinois, was closed today by the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation (FDIC) was named receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Republic Bank of Chicago, Oak Brook,...
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