Regulatory Roundup: Actions Expected Soon

PORTFOLIO MANAGEMENT: By the end of April the OCC is expected to issue comprehensive guidelines designed to help banks analyze and manage credit risk in their loan portfolios.

ELECTRONIC BANKING: The OCC said it will release risk-management guidelines by April on banking by personal computer. Meanwhile, the Exam Council expects to issue consumer protection guidelines for electronic banking this spring.

LENDING DISCLOSURES: The Fed and the Department of Housing and Urban Development plan to issue a legislative proposal before the end of March detailing how Congress should combine the disclosures required by the Truth-in-Lending and Real Estate Settlement Procedures acts. The Fed had requested recommendations April 2, and comments were due June 30. The Fed briefly reopened the comment period until March 9, primarily to conduct four focus groups with consumers on various proposals.

MONEY LAUNDERING: Regulators are expected to propose in the first half of 1998 long-delayed rules governing how federal financial institutions verify the identity of their customers. Regulators have been working on draft "know-your-customer" rules, which are meant to deter money launderers, since May 1996.

OP-SUB ACTIVITIES: The OCC is expected to act during the first half of the year on applications filed by NationsBank Corp. to establish real estate development and lease financing operating subsidiaries. Comments were due in May 1997.

YEAR 2000: The Exam Council is expected next week to issue separate guidelines on making sure vendors and borrowers are addressing their own year-2000 problems. Guidelines on testing computer repairs are due by the end of the month.

ELECTRONIC BENEFITS: As part of its effort to make most federal government payments electronically by 1999, the Treasury said it will propose by March 31 specifications for government-sponsored accounts for federal benefits recipients who lack bank accounts.