December 16, 2002 News Archive

Legal Interpretation of Safe Harbor from Anti-Tying Prohibition
A Board interpretation of the regulatory safe harbor under the anti-tying restrictions of Section 106 of the Bank Holding Company Act determined that balances from separate individuals who are all members of an immediate family and who reside at the same address could qualify for the safe harbor.

Proposed Call Report Revisions
The agencies are requesting comment on proposed revisions (PDF) to the call report by January 7, 2003. The changes generally relate to the submission deadline for certain banks, and the process for validating and releasing the data reported by banks.

FinCEN Issues Guidance on Interpreting "Frequently" in Currency Transactions Reports
The Financial Crimes Enforcement Network (FinCEN) issued guidance (PDF) on the interpretation and application of the term "frequently" in the criteria for exempting the accounts of businesses not listed on a major stock exchange for purposes of filing currency transaction reports.