February 13, 2006 News Archive

Final Rule on Risk-based Capital Treatment of Cash-collateralized Securities Borrowing Transactions
In a press release, the Board announced the approval of a final rule for state member banks and bank holding companies that revises the risk -based capital treatment for cash collateral posted in connection with securities borrowing transactions. This final rule makes permanent, and expands the scope of, an interim final rule issued in 2000.

Termination of the Consumer Affairs Report of Examination System (CARES)
In CA 06-4, the Board announced that effective immediately, Reserve Banks should discontinue entering time data into the Consumer Affairs Report of Examination System (CARES). Discontinuing the collection of time data in CARES is consistent with the System's overall effort to standardize operating systems and to eliminate duplicative data entry.

OFAC Issues Interim Final Rule on Economic Sanctions Enforcement Procedures; Requests Comment
The Treasury's Office of Foreign Assets Control (OFAC) has issued an interim final rule on the "Economic Sanctions Enforcement Procedures for Banking Institutions." The interim final rule is effective with enforcement cases involving banking institutions commencing on or after Feb. 13, 2006. OFAC is seeking comments by March 13, 2006.