RECENT ACTIONS
SMALL BANK EXAMS: The OCC revamped risk-based exams for national banks with less than $1 billion of assets. Rather than scrutinize a small bank's risks and risk-management techniques, OCC examiners will focus on performance. Released April 29. Effective Sept. 30.
FHLB MEMBERSHIP: The Federal Housing Finance Board adopted a rule giving the 12 Federal Home Loan banks authority to approve applications for membership in the system. Expected to be published shortly. Effective 30 days later.
RECORD KEEPING: The Fed raised the amount it pays banks for photocopies of a customer's records under the Right to Financial Privacy Act. Published June 12. Effective July 12.
FOREIGN BANKS: The OCC abolished a requirement that foreign banks seeking to open federally chartered U.S. banks submit a separate application to the agency; instead, a bank may use the same form it submits to the Fed. Published May 2. Effective July 1.
SECURITIES OPTIONS: The Fed adopted a final rule freeing bank broker- dealers to finance part of purchases of securities options. These loans will be subject to limits set by the SEC and the exchanges. Published May 3. Effective July 1.
INTEREST RATE RISK: The three banking agencies adopted a policy statement detailing the responsibilities of senior managers and directors for handling interest rate risk. The policy replaces a proposed framework for measuring bank exposure to interest rate swings that was going to lead eventually to a rate-risk capital standard. Published and effective June 26.
TRUTH-IN-SAVINGS: The Fed withdrew a proposed commentary explaining how banks should calculate interest during leap years. Published and effective May 28.
FOREIGN BANKING: The Fed adopted a rule requiring the U.S. operations of foreign banks to select a home state regulator by June 30. Published May 15. Effective May 9.
