May 16, 2005 News Archive

Board Releases Latest Senior Loan Officer Opinion Survey Results The Board released the results of the most current lending survey, which included special questions on the net changes in C&I lending standards and terms since the 1996-97 period and on the reasons for those changes.

Latest Guidance on Servicemembers Civil Relief Act of 2003
In CA 05-3, organizations under Federal Reserve supervision are reminded of their obligations under the Servicemembers Civil Relief Act of 2003 (SCRA). Among other things, the SCRA seeks to strengthen the national defense by providing for the temporary suspension of judicial and administrative proceedings and transactions that may adversely affect the rights of servicemembers during their military service. This guidance is intended to provide general information about certain provisions of the law that are most likely to affect organizations supervised by the Federal Reserve. Topics include interest rates, mortgages, installment loans, residential or motor vehicle leases, and others. Organizations under Federal Reserve supervision are encouraged to seek counsel to ensure that they are in full compliance with the law.