HOME LOAN BANK COMPENSATION: The Finance Board eliminated existing limits on salary and bonuses for employees of the 12 Federal Home Loan banks, other than bank presidents. Instead, their total compensation will be limited to 125% of a president's base salary. Published and effective June 5.

CAPITAL: The Fed lowered to 3.0 the minimum leverage ratio of Tier 1 capital for bank holding companies that have a 1 rating or have implemented the market-risk capital rules. Published June 4. Effective June 30.

DERIVATIVES: The Federal Accounting Standards Board approved a long- awaited rule requiring companies to report the market value of derivatives on financial statements. Copies of the rule are available from the FASB. Adopted June 1 and effective for fiscal years beginning June 15, 1999.

SECURITIES SALES: The Office of the Comptroller of the Currency removed redundant filing requirements from its rules for municipal securities dealers at national banks. The provisions are also included in Securities and Exchange Commissions rules that banks must follow. Published May 28. Effective June 29.

AFFORDABLE HOUSING: The Finance Board clarified which types of residential developments qualify for advances under the Home Loan Bank System's Affordable Housing Program. Published May 20. Effective June 19.

OUT-OF-STATE LOANS: The Federal Deposit Insurance Corp. issued an opinion saying that loans made by state-chartered banks to out-of-state borrowers are usually governed by the home state's usury laws, unless three key lending decisions occur in the host state. Published May 18. Effective immediately.

YEAR-2000: The Federal Financial Institutions Examination Council issued year-2000 guidance to banks for contingency planning and educating bank customers about the millennium bug. Issued May 13. Effective immediately.

DEPOSIT INSURANCE: The FDIC created a six-month grace period for restructuring accounts following the death of a depositor. Published May 11. Effective July 1.

REGULATORY REVIEW: The FDIC revised its policy statement on the development and review of regulations. It now sets goals of increasing quality and effectiveness while minimizing burden. Published and effective May 7.

TRADE NAMES: Federal regulators advised banks and thrifts to make sure that customers recognize that branches, Internet sites, and other services using names other than the institution's corporate name are not separately insured. Published May 1. Effective July 1.

FHLB MEMBERSHIP: The Finance Board permitted small banks to count loans secured by farm or business properties toward the Home Loan Bank System's membership requirement if the properties include a permanent residence. Effective 30 days after publication in the Federal Register.

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