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Interest Rates
- US: H15 -0.17 2011-03-10 FRB Market yield on U.S. Treasury securities at 5-year constant maturity, quoted on investment basis, inflation-indexed
- US: H15 0.14 2011-03-10 FRB Federal funds effective rate
- US: H15 0.14 2011-03-10 FRB 30-Day AA Nonfinancial Commercial Paper Interest Rate
- US: H15 1.41 2011-03-10 FRB Rate paid by fixed-rate payer on an interest rate swap with maturity of three year.
- US: H15 0.25 2011-03-10 FRB 60-Day AA Nonfinancial Commercial Paper Interest Rate
Trade (FTC)
- FTC Accepts Final Settlement with Twitter for Failure to Safeguard Personal InformationThe Federal Trade Commission has finalized a proposed settlement that it announced in June 2010 with social networking site Twitter, which resolved charges that Twitter deceived consumers and put their privacy at risk by failing to safeguard their personal information. […]
- FTC Accepts Final Settlement with Twitter for Failure to Safeguard Personal Information
Commerce News
- NTIA's Quarterly BTOP Status Report to CongressNTIA submitted the February 2011 quarterly status report on the Broadband Technology and Opportunities Program (BTOP) to Congress. (1.5MB PDF file) […]
- NTIA's Quarterly BTOP Status Report to Congress
Small Business News
- Letter dated 03/04/11 - Department of Transportation, Federal Aviation AdministrationLetter Date: Friday, March 4, 2011 Landing page summary: Safety Management Systems for Part 121 Certificate Holders; Proposed Rule; 75 Fed. Reg. 68224, November 5, 2010 Fact Sheet Summarizing Advocacy's Letter read more […]
- Letter dated 03/04/11 - Department of Transportation, Federal Aviation Administration
Monetary Policy
Cost Estimates
- H.R. 872, Reducing Regulatory Burdens Act of 2011Cost estimate for the bill as ordered reported by the House Committee on Agriculture on March 9, 2011 […]
- H.R. 861, NSP Termination ActCost estimate for the bill as reported by the House Committee on Financial Services on March 9, 2011 […]
- S. 493, SBIR/STTR Reauthorization Act of 2011Cost estimate for the bill as ordered reported by the House Committee on Small Business and Entrepreneurship on March 9, 2011 […]
- H.R. 872, Reducing Regulatory Burdens Act of 2011
Banking
- OCC Appoints Receiver for The First National Bank of DavisThe Office of the Comptroller of the Currency (OCC) today appointed the Federal Deposit Insurance Corporation (FDIC) as receiver for The First National Bank of Davis, Davis, Oklahoma. […]
- OCC Appoints Receiver for The First National Bank of Davis
Regulation CC
The Federal Reserve Board on Thursday requested public comment on proposed amendments to Regulation CC (Availability of Funds and Collection of Checks) to encourage banks to clear and return checks electronically, add provisions that govern electronic items cleared through the check-collection system, and shorten the “exception” hold periods on deposited funds.
To encourage electronic collection and return of checks between banks, the proposal provides that a depositary bank would be entitled to the expeditious return of a check only if it agrees to receive returned checks electronically. In addition, the proposal would permit the bank responsible for paying a check to require that checks presented to it for same-day settlement be presented electronically. More generally, the proposal would apply Regulation CC’s collection and return provisions, including warranties, to electronic check images that meet certain requirements.
Additionally, due to the faster collection and return timeframes that result from electronic collection and return, the proposal would shorten the safe-harbor period for an exception hold to four business days, which should enable the depositary bank to learn of the return of virtually all unpaid checks before being required to make these deposits available for withdrawal. The proposal also eliminates the references in Regulation CC to “nonlocal” checks. The distinction between local and nonlocal checks is tied to Federal Reserve Bank check processing regions. As of February 2010, the Reserve Banks have ceased operations in all but one of their check processing offices, such that there is now only one check processing region, and all checks are local to each other. Local checks are generally subject to a two-business-day hold period.
Appendix C to the regulation sets forth model funds-availability forms that banks may use as the basis of their disclosures to customers. The proposal includes new model forms that were developed using consumer testing and that set forth funds-availability policies in a manner that is designed to be more easily understood by consumers.
The Board’s Federal Register notice is attached. Comments on the proposal are due June 3, 2011.