September 26, 2005 News Archive

FFIEC Announces Availability of HMDA Data for 2004
The Federal Financial Institutions Examination Council (FFIEC) announced the availability of 2004 data regarding mortgage lending transactions at financial institutions covered by the Home Mortgage Disclosure Act (HMDA) in metropolitan statistical areas throughout the nation. The HMDA data made available include disclosure statements for each financial institution, aggregate data for each metropolitan statistical area (MSA), nationwide summary statistics regarding lending patterns, and the Loan Application Register (LAR) submitted by each institution to its supervisory agency on March 1, 2005, modified for borrower privacy.

The HMDA data made available reflect new information collected for the first time in 2004, including information relating to loan pricing, whether a loan or application relates to manufactured housing, and whether a loan is secured by a first or subordinate lien, or is unsecured. The pricing data are intended to advance enforcement of consumer protection and anti-discrimination laws and to improve mortgage market efficiency.

Supervisory Practices Regarding Banks and Consumers Affected by Hurricane Katrina
The Federal Reserve issued a statement to advise banking organizations that we will work actively to respond to issues that arise in the wake of the damage caused by Hurricane Katrina. In particular, it is the long-standing policy of the Federal Reserve to encourage bankers to work with borrowers and other customers in communities and regions affected by disasters. The Federal Reserve also wishes to remind banking organizations that there is regulatory flexibility available to facilitate recovery in the affected areas. In this spirit, we encourage banking organizations to work with supervisory staff at their Reserve Banks for further guidance on issues related to this disaster, such as working with affected borrowers and other customers, regulatory reports, safety and soundness supervision, Bank Secrecy Act and Anti-Money Laundering requirements, and consumer compliance supervision.

Data Show Continued Improvement in Credit Quality, Slight Increase in Credit Commitment Volume
Federal bank and thrift regulators released results of the Shared National Credit review. The quality of syndicated bank credits showed continued improvement this year. The review also found that most industries exhibit much improved credit quality from peak problem levels experienced a few years ago. (PDF)

SEC Extends Time for Banks to Comply With Gramm-Leach-Bliley Act Broker Registration Requirements
The Securities and Exchange Commission announced an order further extending until Sept. 30, 2006, the compliance dates for banks related to certain broker registration requirements contained in the Gramm-Leach-Bliley Act (GLBA).