October 14, 2002 News Archive

Board Seeks Comment on Proposed Amendments to Reg T
The Board is publishing for comment proposed (PDF) amendments to Regulation T to clarify the treatment of stock futures held by customers at security futures intermediaries. The proposed amendments would permit the withdrawal of cash from an otherwise restricted margin account if required to satisfy maintenance margin requirements. Additionally, the proposed amendments also would explicitly permit stock futures to be carried in a good faith account as is currently done with other futures.

Comments are invited on all aspects of the proposal by November 15, 2002.

2002 Shared National Ccredit Review Results Available
The Board, OCC and FDIC released the results (PDF) of the 2002 Shared National Credit (SNC) Review which show that the quality of large syndicated bank loans continued to deteriorate but at a slower pace than in 2001.

U.S. House Approves Legislation to Raise Truth-in-Lending Ceiling
On Tuesday, the U.S. House approved a bill to amend the Truth in Lending Act to adjust the exempt transactions amount for inflation. The bill, which still needs U.S. Senate approval, would increase from $25,000 to $75,000 the size of loans covered under the the Act.