April 26, 2004 News Archive

Board Releases Latest Beige Book
In the most recent Beige Book, all Districts reported increased economic activity, with the exception of commercial real estate markets, from mid-February through early April. Details are available in the full report, including individual Reserve Bank summaries.

Greenspan on the State of the Banking Industry
Chairman Greenspan recently appeared before the U.S. Senate Committee on Banking, Housing, and Urban Affairs, testifying on risk-management practices of banks, the current status and direction of revisions to capital standards for internationally active banks, deposit insurance, and the ongoing consolidation process within domestic banks.

Governor Bies on Enterprise-wide Compliance Programs
In a speech earlier this year, Governor Bies stated that it is necessary for financial firms to develop enterprise-wide compliance programs for legal and reputational risk management. She also noted that it is time for senior management to move from thinking about compliance chiefly as a cost center, to considering the benefits of protecting against legal and reputational risk that have the potential to affect profitability as well as market and customer confidence.