Banking Report Index-Summary

BANK FAILURES

BANK HOLDING COMPANIES

– Capital, calculation of risk-based capital, FRB delays implementation of rule limiting use of certain items by bank holding companies, 92:676
– Conversion of financial institutions to bank holding companies regulated by state supervisors

See BANK SUPERVISION

– Dividends, FRB warns boards not to pay dividends in face of falling earnings, 92:479
– Regulatory policy, Fried Frank guide released, 93:801
– Resolution authority

See LEGISLATION, FEDERAL, S 1540

– Subsidiaries, FRB expands consumer protection role, 93:497
– TARP, Tier 1 capital funds, FRB approves bank holding companies to include funds from preferred stock sold to Treasury Dep't, 92:1211

BANK SECRECY

– Brazilian court suspends controversial state decree eliminating bank secrecy in Sao Paulo, 92:1075
– Fraud, check cashing company and owner convicted of failing to file currency transaction reports for checks allegedly cashed by shell companies (S.D. Fla.), 92:446
– French official claims government has list of tax subjects holding bank accounts in Switzerland, 93:467
– Italy, tax officials begin to enforce law requiring banks to record all cashed or deposited checks, 92:1289
– Protection of personal financial data, federal agencies need to take further action, GAO report says, 92:333
– Shulman to appear at House hearing, 92:750
– Switzerland appoints members of expert committee to advise on preservation effort, 92:583
– Tax havens, momentum building for action, but direction still unclear, Analysis and Perspective, 92:1026

BANK SUPERVISION

– Accounting, FDIC board approves final rule revising details of annual audits, reporting requirements, and certification of outside public accountants, 92:1477
– Boards of directors, federal government has influence over structure and direction, expert says, 92:1150
– Call reports, FFIEC approves revisions focused on heightened data needs during current financial crisis, 92:268; federal regulators propose several changes to reflect current safety and soundness concerns, 93:327
– Charter conversions should occur for “legitimate” reasons only, FFIEC says, 93:9
– Conversion of financial institutions to bank holding companies regulated by state supervisors

– – Crisis revamps patterns of bank and S&L approvals, Analysis and Perspective, 92:1022
– – Program enhances confidence, N.Y. regulator says, 92:482

– Corus Bankshares reaches agreement with federal regulators to increase capital, freeze dividends, and limit interest rates on deposits, 92:427; OCC closes major construction and commercial real estate lender, 93:425; FDIC sells 40 percent stake to commercial REIT investment consortium, 93:685
– Deposit interest, FDIC board approves final rule changing administration of statutory restrictions, 92:1250
– Downey S&L Ass'n, Treasury Dep't IG faults OTS for not taking more forceful action to limit high-risk mortgages at failed institution, 92:1421
– Emerging markets, Basel Comm. announces significant expansion of membership to bring in certain experts, 92:832
– Enforcement policy

– – Actions lag financial crisis but reflect trouble banks continue to confront, Analysis and Perspective, 93:817
– – Financial services industry should prepare for high level of scrutiny from federal and state authorities, attorney tells conference, 93:784

– EU-wide supervisor still impossible for political reasons, expert group says, 92:516
– Examination issues remain top priority for community banks, interest group says, 92:1250
– Form of ownership, financial firms must adjust business models to enhance stock values, FRB official says, 92:365
– Franklin Bank, FDIC IG faults agency for timid oversight of failed risk-taking Texas bank, 93:57
– G-20 must support cross-border banking supervision proposal, EU leaders say, 92:447
– GMAC Financial Servs., Treasury Dep't uses $5B of TARP funds to purchase preferred stock and warrants to help conversion to bank holding company, 92:5
– Japan implements new policy for large commercial banks that emphasizes closer cooperation with SEC and other foreign regulatory authorities, 93:362
– Lending to creditworthy borrowers, lawmakers criticize banking regulators for allegedly overreacting to financial conditions, 92:727
– Loan loss strategies, bank examiners evaluating as part of overall assessment of institutional health, FDIC says, 93:262
– Midwest Indep. Bancshares and subsidiary agree to reduce exposure to commercial real estate market and to make changes in corporate governance, 93:436
– Minimum capital set-aside requirements, central bank governors approve proposed reforms, 93:462
– Nationalization, federal government unlikely to take operational control of large banks, Bair says, 92:480
– Newly insured depository institutions, FDIC extends time period for higher capital requirements and more frequent examinations, 93:430
– Park Avenue Bank, FDIC and N.Y. state enter into cease and desist order requiring improvement of capitalization and underwriting standards, 92:384
– Regulatory reform

– – Havens from U.S. law will be barred from access to U.S. banking system, Frank (D-Mass) says, 93:161
– – Hill Watch, 93:478
– – National Bank Supervisor, Treasury Dep't sends legislative proposal to Congress, 93:163
– – Regulatory rubber meets rough economic road in financial crisis, Analysis and Perspective, 92:846

– Riegle-Neal Act compliance, federal regulators release annual host state loan-to-deposit ratios, 93:14
– Risk management

– – Major financial firms favor allocation of systemic risk oversight to new or existing federal regulator, 92:541
– – Operational risk, U.S. shows largest bank losses in Basel Comm. survey, 93:218
– – Stress testing, Basel Comm. recommends improvements, 92:91
– – Winding up failed cross-border banks, Basel Comm. issues draft guidelines, 93:508

– Sweep accounts, FDIC clarifies rule on disclosure requirements for certain accounts used during failed bank resolution, 93:65
– TARP, Treasury Dep't continues to resist line-item monitoring of financial firms, Barofsky says, 92:977

BANKRUPTCY

– Asbestos, personal injury plaintiffs may not sue insurance firms with alleged knowledge of hazards (U.S., rev and rem), 92:1449
– Auto loan defaults

– – Creditors that repossess vehicles must return them as soon as borrowers file for protection under Chapter 13 (7th Cir.), 92:1271
– – Hanging paragraph does not permit debtors to surrender car in full satisfaction of debt (5th Cir.), 92:1445

– “Bad faith filing” decision in GGP proceedings rocks foundation of CRE deals, Analysis and Perspective, 93:602
– BoA dispute with Colonial Bank of Montgomery, judge issues temporary restraining order barring Colonial from selling or transferring assets (S.D. Fla.), 93:313
– Causes of consumer bankruptcy, FRB Boston releases report, 92:629
– Chrysler, 3 Ind. pension funds object to proposed sale of assets (S.D.N.Y.), 92:1225
– Collateral proceeds, bank may not collect proceeds after failing to identify collateral in loan documents and filings (7th Cir.), 92:31
– Credit cards

– – Abusive practices, Senate Judiciary Comm. panel hearing examines effects and gets opinions of experts on proposed measures, 92:744
– – Effects on consumers, House Judiciary panel holds hearing, 92:821
– – Loan proceeds, use to repay other debt 90 days before filing voidable (10th Cir.), 92:150

– Emergency homeownership and equity protection

See LEGISLATION, FEDERAL, HR 225

– 401(k) loan payments not secured debts or necessary expenses for purposes of calculating disposable monthly income (9th Cir.), 92:1271
– General Growth Properties and affiliates file Chapter 11 petition, 92:941
– Homeownership preservation

– – House actions

See LEGISLATION, FEDERAL, HR 200, HR 1106

– – Senate actions, Reid (D-Nev) delays floor action on measure including new authority for bankruptcy judges, 92:681; further action, see LEGISLATION, FEDERAL, S 896

– Homestead exemption for Chapter 7 debtor may not be denied with respect to property fraudulently transferred and voluntarily reconveyed (1st Cir.), 92:943
– Lehman Brothers

– – Chapter 11, schedules of assets and liabilities filed with court (Bankr. S.D.N.Y.), 92:634; case dismissed while granting debtor recognition of foreign main proceeding, 92:700; Barclays allegedly received windfall profit in asset sale, 93:531
– – House panel examines effect of failure on state and local governments and on bailout measure, 92:1112
– – International cooperation, MFA commends Meeks (D-NY) for efforts to help UK with unwinding affiliates, 93:571

– Long-term effect of BAPCPA on consumer filings remains unclear, CRS report says, 92:571
– Mortgage loan modification

See LOAN MODIFICATION

– OTC derivatives, CFTC proposal to create new account class in case of future commission merchant's insolvency, 93:338
– Overdraft charges, Chase Bank USA failed to meet burden of proving checking account fees nondischargeable because incurred by fraud (E.D. Wis.), 92:1063
– Real estate, survey of large home builders shows one third in financial distress, 92:380
– Retail installment agreements, creditor has purchase money security interest securing negative equity financing as part of new car sale (8th Cir.), 93:534
– Ride-through option not available to debtors under BAPCPA (9th Cir.), 93:585
– Russia, Supreme Arbitration Court issues guidance on legal obligations of banks, 93:300
– Silver State Bancorp files for Chapter 7 relief, 92:72
– Statistics, filings rise 31 percent in 2008, AOUSC reports, 92:570; filings rise 35 percent in early 2009, 93:359
– Student loans, discharge via Chapter 13 plan (U.S., rev grant), 92:1449
– Taxation, court cannot hear tax claim after debtor has received discharge (D.R.I.), 93:293
– Tousa, lenders to builder must disgorge liens and interest from fraudulent transfers (Bankr. S.D. Fla.), 93:742
– Turnover of property, debtors do not have right to jury trials in actions by trustees during bankruptcy proceedings (1st Cir.), 93:145
– Vineyard Natl. Bancorp files for Chapter 11 protection (Bankr. C.D. Cal.), 93:294
– Washington Mutual asks court to void portion of $12.5B owed in back taxes (Bankr. D. Del.), 92:290

BASEL II CAPITAL ACCORD

See CAPITAL

BERMUDA

– Tax havens, government publicly disputes label, 92:949

BOLIVIA

– Bank of South, 7 nations reach agreement on new regional development bank, 92:1182

BONDS

– Economic stimulus package

– – Financing, Treasury Dep't debt managers revive 7-year note and double annual sales of 30-year bonds, 92:329
– – Incentives to broker-dealers and private surety bond firms to help unlock credit and promote liquidity, 92:554
– – Qualified debt rules, exempt borrowers and banks to benefit from state efforts to encourage lending, 92:330

– Insurers, N.Y. governor asks for federal funding for firms to reduce counterparty risk and borrowing costs, 92:488
– Municipal bonds

– – Moody's report, interest group and Frank (D-Mass) criticize decision to assign negative outlook to entire sector, 92:930
– – Regulatory reform, MSRB seeking comment on proposed rules to clarify prioritization of orders by issuers and underwriters, 93:339
– – SIFMA urges Congress to help stabilize markets, 92:341
– – Unregulated financial advisers play critical role in market, MSRB says, 92:882

– Qualified mortgage bonds and mortgage certificates

– – Housing cost/income ratio, IRS updates guidance for issuers, 92:1057
– – Purchase prices, IRS updates tables for U.S. homes in nationwide metropolitan statistical areas, 92:380

– State and local HFAs, Obama administration announces initiatives to help support new lending, 93:721
– Switzerland eases capital rules for mortgage bond issuers to unblock lending freeze, 92:451
– Temporary Liquidity Guarantee Program (TLGP)

See LIQUIDITY

BRAZIL

– Bank of South, 7 nations reach agreement on new regional development bank, 92:1182
– Bank secrecy, court suspends controversial state decree eliminating bank secrecy in Sao Paulo, 92:1075
– Commercial loans, firms with tax debts may borrow from government-owned banks or refinance already-existing loans under new law, 92:1398
– Money laundering, central bank takes steps to enlist support to combat problem, 93:250
– Privacy, report reveals judges' wide access to tax debtors' online bank accounts, 93:544
– Taxation

– – Increases, officials plan to tax savings accounts and reduce taxes on investment funds, 92:1180
– – Municipal service tax, banks win partial victory with high court ruling, 93:653

BUDGET, U.S.

– Deficit, primary dealers in Treasury securities project $1.626T shortfall in FY2009, 92:326; Obama administration includes new debt presentation in projections, 92:623; U.S. posts first April shortfall since 1983, 92:1162
– Omnibus spending measure

See LEGISLATION, FEDERAL, HR 1105