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Interest Rates- US: H15 -0.02 2011-01-13 FRB Market yield on U.S. Treasury securities at 5-year constant maturity, quoted on investment basis, inflation-indexed
- US: H15 0.16 2011-01-13 FRB Federal funds effective rate
- US: H15 0.18 2011-01-13 FRB 30-Day AA Nonfinancial Commercial Paper Interest Rate
- US: H15 1.31 2011-01-13 FRB Rate paid by fixed-rate payer on an interest rate swap with maturity of three year.
- US: H15 0.23 2011-01-13 FRB 60-Day AA Nonfinancial Commercial Paper Interest Rate
- Trade (FTC)
- FTC Offers Tips on Making the Most of Your Auto WarrantyCan a dealer void your car’s warranty if you have someone else do routine maintenance on the vehicle? […]
- FTC Offers Tips on Making the Most of Your Auto Warranty
- Commerce News
- Commerce Spectrum Management Advisory Committee Reopening of Application PeriodNTIA has reopened the application period for persons interested in serving on the Department of Commerce Spectrum Management Advisory Committee (CSMAC) for new two-year terms. The CSMAC provides advice to the Assistant Secretary for Communications and Information and NTIA Administrator on spectrum policy matters. Nominations must be postmarked or electronica […]
- Commerce Spectrum Management Advisory Committee Reopening of Application Period
- Small Business News
- Letter dated 01/04/11 – Food and Drug AdministrationLetter Date: Tuesday, January 4, 2011 Landing page summary: Comment Request; Restaurant Menu and Vending Machine Labeling: Recordkeeping and Mandatory Third Party Disclosure Under Section 4205 of the Patient Protection and Affordable Care Act of 2010 Fact Sheet Summarizing Advocacy's Letter read more […]
- Letter dated 01/04/11 – Food and Drug Administration
- Monetary Policy
- Minutes of Board discount rate meetings, November 22 through December 13, 2010
- Minutes of the Federal Open Market Committee, December 14, 2010
- FOMC statement: Federal Reserve, European Central Bank, Bank of Japan, Bank of Canada, Bank of England, and Swiss National Bank announce extension of temporary U.S. dollar liquidity swap facilities
- Cost Estimates
- H.R. 6517, Omnibus Trade Act of 2010Pay-as-you-go estimate for the Senate amendment in the nature of a substitute to H.R. 6517 […]
- S. 3688, International Professional Exchange Act of 2010Cost estimate for the bill as ordered reported by the Senate Committee on Foreign Relations on December 14, 2010 […]
- H.R. 847, James Zadroga 9/11 Health and Compensation Act of 2010Cost estimate for H.R. 847 as adopted by the Senate on December 22, 2010 […]
- H.R. 6517, Omnibus Trade Act of 2010
- Banking
- Office of the Comptroller of the Currency Hosts Workshops in Fort Myers, FloridaThe Office of the Comptroller of the Currency will host workshops for directors of nationally chartered community banks and federal savings associations in Fort Myers, Florida, at the Marriott Sanibel Harbor Hotel, February 15-16, 2011. […]
- Office of the Comptroller of the Currency Hosts Workshops in Fort Myers, Florida
Community Reinvestment Act
The federal bank and thrift regulatory agencies today announced changes to Community Reinvestment Act (CRA) regulations to support stabilization of communities affected by high foreclosure levels.
The final rule is substantially the same as the proposal published for comment on June 24, 2010. It encourages depository institutions to support eligible development activities in areas designated under the Neighborhood Stabilization Program (NSP) administered by the U.S. Department of Housing and Urban Development (HUD).
Under the NSP, HUD has provided funds to state and local governments and nonprofit organizations for the purchase and redevelopment of abandoned and foreclosed properties. The new rule encourages depository institutions to make loans and investments, and provide services to support NSP activities in areas with HUD-approved plans.
The final rule reflects the broad support expressed by public comments for the agencies’ proposal to expand existing CRA consideration for neighborhood stabilization activities. NSP-eligible activities will receive favorable consideration under the new rule if conducted within two years after the date when NSP program funds are required to be spent.
Allowing banking institutions to receive CRA consideration for NSP-eligible activities in additional NSP-targeted areas serves the purposes of the CRA and creates an opportunity to build upon government programs in areas with high rates of foreclosure and vacancy. CRA consideration is not limited to activities actually receiving NSP funds and may include other eligible activities in NSP plan areas.
The final rule is attached. It is effective 30 days from the date of its publication in the Federal Register, which is expected shortly