District Circular Letters
The Federal Reserve Bank of San Francisco uses circular letters to communicate new policies and announcements to institutions in the Twelfth Federal Reserve District.
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Agencies Release List of Distressed or Underserved Nonmetropolitan Middle-Income Geographies
Federal Reserve Bank of San Francisco
On June 30, 2014, the federal regulatory agencies announced the availability of the 2014 list of distressed or underserved nonmetropolitan middle-income geographies where revitalization or stabilization activities will receive Community Reinvestment Act (CRA) consideration as “community development.”
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New Member Bank – Territorial Savings Bank
Federal Reserve Bank of San Francisco
The Federal Reserve Bank of San Francisco, acting under delegated authority, has approved the application of Territorial Savings Bank, Honolulu, Hawaii, for membership in the Federal Reserve System.
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Interagency Guidance on Home Equity Lines of Credit Nearing Their End-of-Draw Periods
Federal Reserve Bank of San Francisco
The Federal Reserve, along with the other federal financial institutions regulatory agencies and the Conference of State Bank Supervisors, issued the attached guidance to reiterate principles of sound risk management for home equity lines of credit (HELOCs) that have reached or will be reaching their end-of-draw periods.
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New Member Bank – Seacoast Commerce Bank
Federal Reserve Bank of San Francisco
The Federal Reserve Bank of San Francisco, acting under delegated authority, has approved the application of Seacoast Commerce Bank, San Diego, California, for membership in the Federal Reserve System.
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Federal Banking Regulators Finalize Joint Supplemental Guidance on Income Tax Allocation Agreements
Federal Reserve Bank of San Francisco
On June 13, 2014, Federal banking regulators issued final supplemental guidance on income tax allocation agreements involving holding companies and insured depository institutions, unchanged from the proposal issued late last year.
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CA 14-3 Interagency Statement on Increased Maximum Flood Insurance Coverage for Other Residential Buildings
Federal Reserve Bank of San Francisco
On May 30, 2014, the Federal Reserve, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the National Credit Union Administration, and the Farm Credit Administration (Agencies) issued an interagency statement regarding the new National Flood Insurance Program (NFIP) maximum limit of flood insurance coverage for non-condominium residential building designed for use for five or more families, which are classified as “Other Residential Buildings” by the NFIP.
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Federal Reserve Announces New Schedule Margins Applicable Collateral Pledged Depository Institutions
Federal Reserve Bank of San Francisco
The Federal Reserve System is announcing new collateral margins for discount window lending and payment system risk purposes, effective July 1, 2014. These changes stem from the most recent review of margins and valuation practices that the Federal Reserve periodically conducts, as well as the incorporation of updated market data.
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FFIEC: OpenSSL “Heartbleed” Vulnerability Alert
Federal Reserve Bank of San Francisco
On April 10, 2014, the Federal Financial Institutions Examination Council (FFIEC) members, which include the Board of Governors of the Federal Reserve System, issued an alert on OpenSSL “Heartbleed” Vulnerability.
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CA 14-2 Revised Interagency Large Institution CRA Examination Procedures and Consolidation of Interagency CRA Examination Procedures and Supporting Materials
Federal Reserve Bank of San Francisco
The Federal Reserve, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency (Agencies) recently approved the attached interagency Large Institution Community Reinvestment Act (CRA) examination procedures.
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Small Entity Compliance Guide for the TILA-RESPA Integrated Disclosure Rule
Federal Reserve Bank of San Francisco
On March 31, 2014, the Consumer Financial Protection (CFPB) released its Small Entity Compliance Guide for the TILA-RESPA Integrated Disclosure Rule (Rule).