INTEREST RATES: NCUA extended the 18% cap on interest rates that federal credit unions may charge members. The cap was supposed to expire in September, but the agency extended it 18 months to March 8, 1999. Published July 31. Effective Sept. 9.
DEMAND DEPOSITS: The FDIC gave banks a freer hand to pay premiums on demand deposit accounts, provided the bonus is tied to something other than the customer's balance or how long the funds are held at the bank. Published and effective July 30.
DEPOSIT SHIFTING: The FDIC withdrew a proposed rule that would have penalized financial institutions that shift deposits between the bank and thrift insurance funds. Published and effective July 29.
FLOOD INSURANCE: The Federal Financial Institutions Examination Council issued a list of answers to questions commonly asked about the revised federal flood insurance rules issued last year. Published July 23.