The Federal Deposit Insurance Corporation (FDIC) and the Texas Department of Banking (TDOB) executed an information-sharing agreement allowing for the exchange of information relating to Money Services Businesses (MSB) supervision. This agreement will provide for a formal information-sharing process and is designed to...
Robert L. Bacon, Texas Interim Banking Commissioner, today issued a proclamation allowing Texas state-chartered banks with offices in areas that may be affected by Hurricane Ike to remain temporarily closed under Section 37.003 of the Texas Finance Code.
In issuing this proclamation, Interim Commissioner Bacon...
The Office of the Comptroller of the Currency today issued a proclamation allowing national bank offices affected by Hurricane Ike to close at their discretion.
In issuing the proclamation, Jennifer Kelly, Senior Deputy Comptroller for Mid-Size/Community Bank Supervision, said she expects that only those bank...
OTS regulated thrift institutions have discretion to make individual decisions whether to maintain or close business operations in the event of a natural disaster or other community emergency, including situations where an emergency is imminent. This is often a difficult decision in which the interests of employee and...
As part of our continuing effort to reduce unnecessary regulatory burden, simplify administrative processes, enhance communications, and reduce paperwork for the institutions we regulate, the Office of Thrift Supervision (OTS) has established a system which enables institutions to electronically file (e-filing)...
Good morning. I'm joined here by Jim Lockhart, Director of the new independent regulator, the Federal Housing Finance Agency, FHFA.
In July, Congress granted the Treasury, the Federal Reserve and FHFA new authorities with respect to the GSEs, Fannie Mae and Freddie Mac. Since that time, we have closely monitored...
Statement by Federal Reserve Board Chairman Ben S. Bernanke:
"I strongly endorse both the decision by FHFA Director Lockhart to place Fannie Mae and Freddie Mac into conservatorship and the actions taken by Treasury Secretary Paulson to ensure the financial soundness of those two companies. These necessary steps...
The federal banking agencies have been assessing the exposures of banks and thrifts to Fannie Mae and Freddie Mac. The agencies believe that, while many institutions hold common or preferred shares of these two government-sponsored enterprises, a limited number of smaller institutions have holdings that are...
While forecasters were plotting the course of Hurricane Gustav, the federal government was ramping up its response and activating agencies that might be needed to help in the wake of a natural disaster. The FBI, along with other federal law enforcement agencies, was included in that response.
Silver State Bank, Henderson, Nevada, was closed on Friday by the Nevada Financial Institutions Division, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. To protect the depositors, the FDIC entered into a Purchase and Assumption Agreement with Nevada State Bank, Las Vegas, Nevada, to assume...
The Federal Reserve Board on Friday issued a joint supervisory and consumer affairs letter that encourages banking organizations to work with borrowers and customers in communities affected by Hurricane Gustav or any subsequent storms.
The letter reaffirms the Federal Reserve's long-standing policy of using...
On September 5, 2008, the FDIC was named as Receiver for Silver State Bank, Henderson, Nevada by the Nevada Financial Institutions Division. All insured non-brokered deposits were transferred to the acquiring institution.
The Office of the Comptroller of the Currency today issued a proclamation allowing national bank offices affected by Tropical Storm Hanna to close at their discretion.
The Federal Deposit Insurance Corporation (FDIC) has announced a series of steps intended to provide regulatory relief to financial institutions and to facilitate recovery in areas of Alabama, Mississippi, Louisiana and Texas affected by Hurricane Gustav.
Integrity Bank, Alpharetta, Georgia, with $1.1 billion in total assets and $974.0 million in total deposits as of June 30, 2008, was closed today by the Georgia Department of Banking and Finance, and the Federal Deposit Insurance Corporation was named receiver.
The FDIC Board of Directors today approved the...
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