December 20, 2004 News Archive

SR 04-17: FFIEC Guidance on the Use of Free and Open Source Software
As announced in SR 04-17, the federal regulatory agencies have published guidance for examiners, financial institutions, and technology service providers on the acquisition and use of free and open source software (FOSS). Financial insitutions and technology service providers will be notified via Regulatory Update.

SR 04-19: Interagency Statement on the Purchase and Risk Management of Life Insurance
In SR 04-19, the regulatory agencies issued guidance on the safety and soundness and risk management implications of purchases and holdings of life insurance by banks and savings associations. State member banks will receive notification of this guidance via Regulatory Update.

New Format Announced for Disclosure of 2004 HMDA Data
The Board announced format changes to tables used to publically release HMDA or Home Mortgage Disclosure Act data collected by lenders. The changes are associated with revisions to Regulation C adopted in 2002, requiring the collection of new data beginning in January 2004. Data submissions are due no later than March 1, 2005.

System BS&R Debuts New BHC Rating Information
Visit the System's web page highlighting the new BHC rating program. Information includes comparisons between the new and old rating systems, frequently asked questions, and the ability to "ask an expert".