August 1, 2005 News Archive

Banking Agencies Issue Final Community Reinvestment Act Rules
In a recent press release, the federal banking agencies approved final Community Reinvestment Act (CRA) rules that are essentially as the agencies proposed them in March.

The new rules take effect September 1, 2005.

Board Issues Beige Book as of July 27
In the July 27 Beige Book, all Federal Reserve Districts indicate that economic activity continued to expand. Although conditions remained favorable in most agricultural Districts, the drought has expanded, with Illinois continuing to be hit the hardest. Bankers were apprehensive about farmers' risk management.