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Interest Rates- US: H15 0.43 2011-02-16 FRB Market yield on U.S. Treasury securities at 5-year constant maturity, quoted on investment basis, inflation-indexed
- US: H15 0.15 2011-02-16 FRB Federal funds effective rate
- US: H15 0.18 2011-02-16 FRB 30-Day AA Nonfinancial Commercial Paper Interest Rate
- US: H15 1.64 2011-02-16 FRB Rate paid by fixed-rate payer on an interest rate swap with maturity of three year.
- US: H15 0.20 2011-02-16 FRB 60-Day AA Nonfinancial Commercial Paper Interest Rate
- Trade (FTC)
- FTC Submits Fiscal Year 2012 Budget Request and Performance Plans to CongressThe Federal Trade Commission submitted its Fiscal Year 2012 budget request to Congress, including an FY 2012 Budget Overview Statement, and FY 2011 and FY 2012 Performance Plans that are required under the Government Performance and Results Act. […]
- FTC Submits Fiscal Year 2012 Budget Request and Performance Plans to Congress
- Commerce News
- NTIA Unveils National Broadband Map and New Broadband Adoption Survey ResultsNTIA unveiled the National Broadband Map -- the first public, searchable nationwide map of broadband Internet availability -- and the results of a new nationwide survey on broadband adoption. The data will support efforts to expand broadband access and adoption in communities at risk of being left behind in the 21st century economy and help businesses and co […]
- NTIA Unveils National Broadband Map and New Broadband Adoption Survey Results
- Small Business News
- Letter dated 02/14/11 - Department of Interior, Fish and Wildlife ServiceLetter Date: Monday, February 14, 2011 Landing page summary: Designation of Critical Habitat for the Sonoma County Distinct Population Segment of the California Tiger Salamander (Ambystoma californiense); 76 Fed. Reg. 2863, January 18, 2011 Fact Sheet Summarizing Advocacy's Letter read more […]
- Letter dated 02/14/11 - Department of Interior, Fish and Wildlife Service
- Monetary Policy
- Cost Estimates
- H.R. 2, Repealing the Job-Killing Health Care Law ActCost estimate for the act as passed by the House of Representatives on January 19, 2011. […]
- S. 365, A bill to make a technical amendment to the Education Sciences Reform Act of 2002Cost estimate for the bill as ordered reported by the Senate Committee on Health, Education, Labor, and Pensions on February 16, 2011 […]
- H.R. 362, A bill to redesignate the Federal building and United States Courthouse located at 200 East Wall Street in Midland, Texas, as the "George H. W. Bush and George W. Bush United States Courthouse and George Mahon Federal Building"Cost estimate for the bill as ordered reported by the House Committee on Transportation and Infrastructure on February 16, 2011. […]
- H.R. 2, Repealing the Job-Killing Health Care Law Act
- Banking
- OCC Enforcement ActionsThe Office of the Comptroller of the Currency (OCC) today released new enforcement actions taken against national banks and individuals currently and formerly affiliated with national banks. […]
- OCC Enforcement Actions
Interchange Rulemaking
February 16, 2011, Alexandria, Va. — NCUA Chairman Debbie Matz today called upon the Federal Reserve to craft a debit card interchange rule that reflects Dodd-Frank Act language addressing small institution pricing issues.
In a February 16 letter to Federal Reserve Chairman Ben Bernanke, Matz calls for the regulation implementing the statutory interchange provision to contain “meaningful exemptions for smaller card issuers.” Matz added, “The Act explicitly exempts card issuers with total assets under $10 billion from any interchange fee regulation. In addition to exempting small issuers from the fee limits, I believe it is important that small issuers be exempted from requirements related to network exclusivity and routing restrictions. Such action would be consistent with the exemption from the interchange transaction fee rulemaking, which is intended to shield smaller institutions from the costs of the Act.”
The Dodd-Frank Act requires the Federal Reserve to consult with NCUA and other financial institution regulators in formulating the new rules governing debit card interchange transactions.
In the letter, Matz also notes that “[s]eventeen percent or nearly 1,000 federally insured credit unions offering ATM/Debit card services possess total assets of less than $10 million, and more than 3,000 (59%) possess total assets less than $50 million. The current rule’s prohibitions against network exclusivity and merchant routing restrictions could significantly increase both fixed and variable costs for these small institutions, resulting in an inability to remain competitive with larger card issuers.”
The new rule will take effect in July. Click here for a full copy of the letter.
NCUA is the independent federal agency that regulates, charters and supervises federal credit unions. With the backing of the full faith and credit of the U.S.
National Credit Union Administration
1775 Duke Street
Alexandria, VA 22314-3428
www.ncua.gov
Media Contact: NCUA Office of Public & Congressional Affairs
Phone: (703) 518-6330
Email: pacamail@ncua.gov
government, NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of over 90 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions.