August 11, 2003 News Archive

Board Publishes June 2003 Bank Holding Company Supervision Manual Update
The Board has published the June 2003 (PDF) update (supplement no. 24) to the Bank Holding Company Supervision Manual. Included in the supplement are supervisory and inspection guidance on the following subjects:

• Interagency Policy Statement on the Internal Audit Function and its Outsourcing;
• A February 7, 2003, Board Interpretation of Regulation K for International Banking Organizations;
• The Board's January 6, 2003, Revision to Subpart D of Regulation K, Sections 211.41-43;
  • Board Staff Legal Opinions on Providing Insurance Claims Administration and Insurance Risk Management Services;
  • Acting as a Third-Party Administrator on Behalf of an Insurance Company;
  • Providing Flood Zone Determination Services;
  • Combined-Balance Discount.

Agencies Request Comments on Proposed Basel Capital Accord
In a joint press release, the regulatory agencies announced the publication of joint Federal Register notices and requests for comment on two interagency documents related to the proposed implementation of the new Basel Capital Accord in the United States. The first document, an Advance Notice of Proposed Rulemaking (ANPR), asks for comment on the new Basel Accord framework. The second document contains two parts--one addressing draft supervisory guidance on internal ratings-based systems for corporate credits and one describing draft supervisory expectations for operational risk management.

Comment on both documents may be mailed to Ms. Jennifer J. Johnson, Secretary, Board of Governors of the Federal Reserve System, 20th Street and Constitution Avenue, N.W., Washington, D.C., 20551 or submitted electronically at regs.comments@federalreserve.gov through November 3, 2003.

FFIEC Releases CRA Data
In a July 31 press release, the Federal Financial Institutions Examination Council (FFIEC) announced the availability of data on small business, small farm, and community development lending reported by commercial banks and thrifts.

FFIEC Announces Availability of Mortgage Lending Data From HMDA-Reporting Institutions
In a press release, the FFIEC announced that 2002 data on mortgage lending at 7,771 institutions covered by the Home Mortgage Disclosure Act (HMDA) in metropolitan areas is now available. Data includes disclosure statements for each institution, aggregate data for each metropolitan area, and nationwide summary statistics on lending patterns.