RESERVES II: The Fed revamped Regulation R, eliminating outdated provisions. Published Dec. 31. Effective April 1.

SECTION 20: The Fed more than doubled the share of revenue a banking company affiliate may earn from underwriting commercial securities. The revenue earned by Section 20 units may make up 25% of their total revenues. The cap had been 10%. Published Dec. 30. Effective March 6.

TRUST: The OCC made it easier for national banks to manage, invest, and distribute trust funds by revising Part 9 of its rule book. Published Dec. 30. Effective Jan. 29.

LEASING: The OCC updated and simplified its rules governing the financing of personal property leases. Published Dec. 18. Effective Jan. 17.

FIREWALLS: The Fed eliminated three firewalls that had separated investment and commercial banking. One change lets a single salesman make loans and offer underwriting services. Also, employees may work for both a bank and an affiliated securities unit, and the two entities may buy most corporate securities from each other. Published Nov. 7. Effective Jan. 7.

LOW-DOC LOANS: Interim rule from the Small Business Administration requiring lenders to make at least 20 commercial real estate or industrial loans of less than $100,000 before qualifying for the low-documentation loan program. Published and effective Jan. 3.

FHLB SALARIES: The Federal Housing Finance Board gave the Federal Home Loan banks more authority to set salaries for their presidents. Published and effective Jan. 2.

OAKAR BANKS: The FDIC rejected a plan to change the way it calculates a bank's Oakar deposits but did decide to measure these deposits quarterly rather than twice a year. Published Dec. 10. Effective Jan. 1.

CAMEL RATINGS: The banking and thrift agencies added a sixth component, sensitivity to market risk, to the Camel rating system. Published Dec. 19. Effective Jan. 1.

THRIFT BYLAWS: The OTS abolished several obsolete chartering, bylaw, and corporate governance rules. Published Dec. 3. Effective Jan. 1.

THRIFT SUBS: The OTS simplified its rules governing thrift service corporations, including a list of preapproved activities that no longer require an application. Published Dec. 18. Effective Jan. 1.

REG Z: The Fed raised the dollar figure triggering certain Truth-in- Lending requirements, to $424, to reflect inflation. Published Dec. 12. Effective Jan. 1.

BANK POWERS: The OCC allowed national banks to apply for permission to engage through operating subsidiaries in activities not permitted the parent. The rule also expedites OCC decisions on corporate applications filed by highly rated national banks. For these banks, application fees will be cut in half. Published Nov. 27. Effective Dec. 31.

ASSET-BACKEDS: The OCC boosted to 25% the proportion of capital and surplus that national banks may invest in highly rated securities backed by credit card, auto, or other loans. Published Dec. 2. Effective Dec. 31.

CREDIT UNION RULES: The National Credit Union Administration permanently exempted small, nonautomated credit unions from Truth-in-Savings rules. The threshold of loans to officials requiring approval from a credit union's board was doubled, to $20,000. Published and effective Dec. 27.

REG B: Nearly two years after suggesting it, the Fed decided against letting banks voluntarily collect race and gender data on small-business borrowers. Published Dec. 30. Was effective Dec. 24.

S CORPORATIONS: The Internal Revenue Service finalized its rules governing the taxation of S corporations. Published and effective Dec. 23.

SAIF RATES: The FDIC reduced the premiums it charges members of the Savings Association Insurance Fund. The new rates range from zero to 27 cents per $100 of deposits. Published Dec. 24. Was effective Dec. 11.

RETAIL REPOS: The FDIC rescinded its policy statement governing retail repurchase agreements. Published and effective Dec. 11.

CONSUMER LEASES: The Fed adopted a rule requiring firms to explain how they calculate monthly lease payments. Also, it created several model forms and eased broadcast advertising restrictions. Published Sept. 27. Effective Oct. 1, 1997.

MARKET RISK: The federal banking agencies approved a rule requiring banks with large securities and foreign exchange portfolios to use an internal model to calculate the amount of capital they must hold against swings in the market. Published Sept. 6. Effective Jan. 1, 1998.

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