Federal Reserve Board Publishes Payments Study

On July 24th, the Federal Reserve Board published the “2013 Federal Reserve Payments Study Detailed Report,” which provides new information on the payments landscape including updated results on the intensity of card use by consumers and businesses; a further discussion of previously released information on third-party payments fraud; new estimates of over-the-counter cash withdrawals and deposits at bank branches and wire transfers made by businesses and consumers; and a discussion of emerging and alternative payments likely to replace traditional payments such as cash and checks. Federal Reserve Board Press Release.

OCC Issues MRSB Booklet

On July 24th, the OCC issued the “Municipal Securities Rulemaking Board Rules” booklet of the Comptroller’s Handbook. This new booklet, part of the Securities Compliance series, consolidates certain guidance from the Comptroller’s Handbook booklet “Bank Dealer Activities,” issued in March 1990, and the Comptroller’s

Handbook for Compliance, “Securities Activities” booklet, issued in September 1991. The booklet introduces the Municipal Securities Rulemaking Board’s rules and interpretive guidance; provides guidance to bank examiners and bankers for evaluating compliance with MSRB rules; and addresses recent updates to the MSRB’s rules regarding books and records, suitability of recommendations and transactions, time of trade disclosures, prices and commissions, transactions with sophisticated municipal market professionals, and municipal advisors. OCC Bulletin.

OCC Bulletin on Mutual Savings Associations

On July 22nd, the OCC issued a Bulletin that highlights the unique characteristics of mutual savings associations that factor into the supervision of these community institutions. The bulletin describes the key distinctions of federal savings associations organized in the mutual form of ownership from shareholder-owned or stock institutions. The guidance describes the governance structure and the rights of mutual members and outlines the traditional operations of mutuals. The bulletin also provides additional detail regarding supervisory considerations for rating mutuals under each of the components of the Uniform Financial Institutions Rating System. OCC Press Release.

OCC Bulletin on Host State Loan-to-Deposit Ratios

On July 21st, the OCC issued a Bulletin on the host state loan-to-deposit ratios that it, along with the Federal Reserve Board and FDIC, will use to determine compliance with Section 109 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994.

Dividend Payments by S Corporation Banks

On July 21st, the FDIC clarified how it will evaluate requests by S-Corporation Banks to make dividend payments that would otherwise be prohibited under the Basel III capital conversation buffer. FDIC Press Release.

FDIC Study of Minority Depository Institutions

On July 21st, the FDIC released a study on the structure, performance and social impact of Minority Depository Institutions (“MDIs”). The study describes MDIs and FDIC-insured community development financial institutions and where these institutions are located. FDIC Press Release.