TRUTH-IN-SAVINGS: The Fed withdrew a proposed commentary explaining how banks should calculate interest during leap years. Published May 28. Effective May 28.
INTEREST RATE RISK: The three banking agencies adopted a policy statement detailing the responsibilities of senior management 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 an interest rate risk capital standard. Expected to be published shortly. Effective upon publication.