New York Fed Staff Reports on GCF Repo
On April 23, the Federal Reserve Bank of New York published a two-part primer on the Fixed Income Clearing Corporation’s GCF Repo® Service. The first paper focuses on the clearance and settlement of GCF Repo, summarizing pre-reform settlement of GCF Repo and describing planned reforms. The second paper examines how dealers use the GCF Repo Service.
OCC Sees Loan Growth in Southern District
On April 22, the Office of the Comptroller of the Currency (“OCC”) reported that the average loan growth rate doubled among community national banks and federal savings associations located in the nine states that make up the OCC’s Southern District from 2012 to 2013, reaching four percent in 2013. Some areas experienced even greater average loan growth with as much as 11 percent in areas of Texas and Oklahoma, and six percent to seven percent in some areas of Florida. OCC Press Release.
Interagency Community Reinvestment Act Examination Procedures for Large Institutions
On April 18, the federal financial institution regulatory agencies with responsibility for Community Reinvestment Act rulemaking published the interagency “Large Institution CRA Examination Procedures.” The new procedures reflect revisions to the “Interagency Questions and Answers Regarding Community Reinvestment” issued on November 15, 2013. OCC Bulletin.