Reference - General

This section is intended to provide minimum background and proceduralguidelines to examiners responsible for evaluating a bank's foreign currencyactivities. Within individual banks, foreign currency money market andexchange trading operations may be combined or completely separate withregard to policies, procedures, reporting, and even dealing. However,...

The Office of the Comptroller of the Currency's (OCC) Comptroller's Handbook booklet, "Retirement Plan Products and Services," provides comprehensive guidance to examiners and bankers regarding retirement plan products and services offered to customers of national banks and federal savings associations (collectively, banks, except when...

The Office of the Comptroller of the Currency's (OCC) Comptroller's Handbook booklet, "Commercial Real Estate Lending," provides guidance for bank examiners and bankers on commercial real estate (CRE) lending activities. For the purposes of this booklet, CRE lending comprises acquisition, development, and construction (ADC)...

The use of nationally recognized credit reporting agencies is an inexpensive tool that can assist Federal agencies to improve their credit management and debt collection programs.Author: Department of the TreasuryISBN-10: 150331233XISBN-13: 9781503312333Publisher: Createspace Independent Publishing PlatformLanguage: EnglishPublished: 01/01/2015Pages: 90Format: PaperbackWeight: 0.51lbsSize: 11.02h x 8.50w...

The explanation that emerging market economies will continue to expand at a faster rate than those in developed markets provides business incentive for banks to become active in the EM.Author: Comptroller of the Currency AdministratoISBN-10: 1503311872ISBN-13: 9781503311879Publisher: Createspace Independent Publishing PlatformLanguage: EnglishPublished: 01/01/2015Pages: 40Format:...

A national bank generally establishes a future commission merchant operating subsidiary for one of two reasons. First, a FCM operating subsidiary provides a bank that engages in futures and options transactions with more direct access to these markets, thereby improving information flow and reducing...

Foreign banking organization have long conducted banking operations in the United States through branches, agencies, and subsidiaries. With the passage of the International Banking Act in 1978, foreign banks could opt to conduct banking operations through a branch or agency licensed by Comptroller of...

On October 26, 2001, the President signed into law the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism ("USA PATRIOT Act") of 2001, Public Law 107-56. Section 361(b) of the Act provides: The Secretary of the Treasury shall...

The Fair Credit Reporting Act became effective on April 25, 1971. The FCRA is designed to regulate the consumer reporting industry; to place disclosure obligations on users of consumer reports; and to ensure fair, timely, and accurate reporting on credit information.Author: Comptroller of the...

Examiners use these procedures to evaluate a national bank's compliance with the Fair Housing Act (FH Act), Equal Credit Opportunity Act (ECOA), and the Federal Reserve Board's Regulation B. This booklet contains the Federal Financial Institutions Examination Council's (FFIEC) "Interagency Fair Lending Examination Procedures,"...

The Electronic Fund Transfer Act (EFTA) (15 USC 1693 et seq.) of 1978 is intended to protect individual consumers engaging in EFTs, which include: transfers through automated teller machines (ATM), point-of-sale (POS) terminals, automated clearinghouse (ACH) systems, telephone bill-payment plans in which periodic or...

A bank that provides asset management services for clients may be required tomanage a variety of actual or potential conflicts of interest. Conflicts ofinterest and self-dealing transactions normally arise whenever the bank's abilityto act exclusively in the best interest of account beneficiaries or clients...

Since 1995, the Treasury Department's Financial Crimes Enforcement Network has been examining the potential regulatory and law enforcement implications of emerging technology-driven payment mechanisms, such as smart card and Internet-based electronic cash, electronic banking, and Internet gaming.Author: U. S. Department of the TreasuryISBN-10: 1503311619ISBN-13:...

Directors are placed in positions of trust by the bank's shareholders, and bothstatute and common law place responsibility for the management of a bankfirmly and squarely on the board of directors. The directors of a national bankmay delegate the day-to-day routine of conducting the...

The credit card has evolved over the last thirty years into one of the most accepted, convenient, and profitable financial products. It is accepted by millions of consumers and merchants worldwide as a routine means of payment for all varieties of products and services.Author:...

Market deregulation, growth in global trade, and continuing technological developments have revolutionized the financial marketplace during the past two decades. A by-product of this revolution is increased market volatility, which has led to a corresponding increase in demand for risk management products. This demand...

The Community Reinvestment Act of 1977, as amended, encourages each insured depository institution covered by the act to help meet the credits need of the communities in which it operates. The CRA requires that each federal financial supervisory agency assess the record of each...

On November 14, 2012, the CDFI Fund sent a letter to CDFIs to assess the impact of Superstorm Sandy on CDFIs and their clients. In conclusion this brief, voluntary assessment, the CDFI Fund sought to identify the needs of CDFIs and areas in which...

The primary source of revenue for most commercial banks and federal savings associations (collectively, banks) is the extension of credit, an activity that concurrently poses a risk to earnings and capital. A bank's credit risk activities, when prudently measured, monitored, and controlled, benefit shareholders,...

The OCC assures that the provision of banking services by national banks is consistent with legal and ethical standards of fairness and corporate citizenship. It performs that obligation by encouraging banks to establish effective compliance management systems and emphasizing that bank management ensure that...

The international banking activities of U.S. banks are supervised by several of the federal banking agencies: the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), and the Federal Reserve System; and by the appropriate state banking agencies. Among...

At the end of this seminar, participants will be able to maintain required records and correctly file reports and tax returns.Author: Alcohol and Tobacco Tax and Trade BureauISBN-10: 1503293343ISBN-13: 9781503293342Publisher: Createspace Independent Publishing PlatformLanguage: EnglishPublished: 12/31/2014Pages: 64Format: PaperbackWeight: 0.38lbsSize: 11.00h x 8.50w x 0.13d

A bank operates as a securities dealer with it underwrites, trades, or deals in securities. Those activities are usually administered in a separately identifiable trading department; however, the lack of such a department does not preclude a bank's involvement in dealer activities.Author: Comptroller of...

The Office of the Comptroller of the Currency (OCC) is responsible for the oversight and supervision of the national banking system. In carrying out its mission, the OCC seeks to assure a banking system in which national banks soundly manage their risks, maintain the...

The Office of the Comptroller of the Currency defines asset management as the business of providing financial products or services to a third party for a fee or commission. The supervision of asset management activities is an important component of the OCC's safety and...

The Office of the Comptroller of the Currency's (OCC) Comptroller's Handbook booklet, "Other Real Estate Owned," provides guidance for bank examiners and bankers on the acquisition, management, disposition, and accounting of other real estate owned (OREO) held by institutions regulated by the OCC. Institutions...

The Federal Financial Institu-tions Examination Council (FFIEC or Council) was established on March 10, 1979, pursuant to title X of the Financial Institutions Regulatory and Interest Rate Control Act of 1978 (FIRIRCA), Public Law 95-630. The purpose of title X, cited as the Federal...

The Coast Guard's program of record (POR) calls for procuring 8 National Security Cutters (NSCs), 25 Offshore Patrol Cutters (OPCs), and 58 Fast Response Cutters (FRCs) as replacements for 90 aging Coast Guard cutters and patrol craft. The NSC, OPC, and FRC programs have...

Various benefits may be available to unemployed workers to provide income support. When eligible workers lose their jobs, the Unemployment Compensation (UC) program may provide up to 26 weeks of income support through the payment of regular UC benefits. Unemployment benefits may be extended...

U.S. foreign-trade zones (FTZs) are geographic areas declared to be outside the normal customs territory of the United States. This means that, for foreign merchandise entering FTZs and reexported as different products, customs procedures are streamlined and tariffs do not apply. For products intended...

Many counties are compensated for the tax-exempt status of federal lands. Counties with national forest lands and with certain Bureau of Land Management (BLM) lands have historically received a percentage of agency revenues, primarily from timber sales. However, timber sales have declined substantially-by more...

The gross federal debt, which represents the federal government's total outstanding debt, consists of (1) debt held by the public and (2) debt held in government accounts, also known as intragovernmental debt. Federal government borrowing increases for two primary reasons: (1) budget deficits and...

This report provides a snapshot of China's leading political institutions and current leaders in the form of nine organization charts and three tables. The report is a companion to CRS Report R41007, Understanding China's Political System, by Susan V. Lawrence and Michael F. Martin,...

In 2012, 46.5 million people were counted as poor in the United States-the number, statistically unchanged over the past three years, is the largest recorded in the measure's 54-year history. The poverty rate, or percent of the population considered poor under the official definition,...

The purpose and scope of this CRS report is to provide a succinct overview with analysis of the major issues in the U.S. policy on Taiwan. This report will be updated as warranted. Taiwan formally calls itself the sovereign Republic of China (ROC), tracing...

The Navy's proposed FY2014 budget requests funding for the procurement of 8 new battle force ships (i.e., ships that count against the Navy's goal for achieving and maintaining a fleet of 306 ships). The 8 ships include two Virginia-class attack submarines, one DDG-51 class...

The foreclosure rate in the United States began to rise rapidly beginning around the middle of 2006 and has remained elevated ever since. Losing a home to foreclosure can hurt homeowners in many ways; for example, homeowners who have been through a foreclosure may...

Under federal law, local governments are compensated through various programs for reductions to their property tax bases due to the presence of most federally owned land. These lands cannot be taxed, but may create demand for services such as fire protection, police cooperation, or...

The 113th Congress may face an array of policy issues affecting postsecondary education. Many of these postsecondary education issues may be considered as part of efforts to reauthorize the Higher Education Act of 1965, as amended (HEA). However, postsecondary education issues also may emerge...

Exchange rates are important in the international economy, because they affect the price of every country's imports and exports, as well as the value of every overseas investment. Following the global financial crisis of 2008-2009 and ensuing economic recession, disagreements among countries over exchange...

Congress has received President Obama's budget request for FY2014, which includes $142.773 billion for research and development (R&D), a $1.861 billion (1.3%) increase from the FY2012 actual funding level of $140.912 billion. The request represents the President's R&D priorities; Congress may opt to agree...

Responsibility for maintaining the approximately 1,230 staffed FAA facilities-ranging from administrative buildings to operations buildings such as air traffic control towers-is distributed among FAA, GSA, and other entities, as shown in table 1.7 6 GAO, Executive Guide: Leading Practices in Capital Decision-Making. Within FAA,...

On March 26, 2013, President Obama signed into law the Consolidated and Further Continuing Appropriations Act, 2013 (P.L. 113-6). The act provides a total of $60.638 billion for Commerce, Justice, Science, and Related Agencies (CJS). This amount includes $7.726 billion for the Department of...

The Energy and Water Development appropriations bill provides funding for civil works projects of the Army Corps of Engineers (Corps), for the Department of the Interior's Bureau of Reclamation (Reclamation), the Department of Energy (DOE), and several independent agencies.Author: Carl E. BehrensISBN-10: 1503236536ISBN-13: 9781503236530Publisher:...

The U.S. Constitution, in Article I, Section 6, authorizes compensation for Members of Congress "ascertained by law, and paid out of the Treasury of the United States." Throughout American history, Congress has relied on three different methods in adjusting salaries for Members. Specific legislation...

The absence of legislation to reduce the federal budget deficit by at least $1.2 trillion triggered the sequestration process in section 251A of the Balanced Budget and Emergency Deficit Control Act of 1985 (BBEDCA), as amended. Pursuant to the BBEDCA, the President ordered sequestration...

This report formally transmits the enclosed briefing in response to section 1276 of the National Defense Authorization Act for Fiscal Year 2013, which mandates that we conduct a review of the Air Transport, Air-to-Air Refueling and Other Exchange of Services (ATARES) program. ATARES is...

FOIA established a legal right of access to government information on the basis of the principles of openness and accountability in government. Prior to passage of the act in 1966, the government required an individual or entity to demonstrate a "need to know" before...

Every day, tens of thousands of cargo tank trucks transport hazardous materials classified as flammable liquids (primarily gasoline and fuel oil) for sale in the United States. This involves some safety risk because of the volatile nature of flammable liquids, the volume of liquid...

The Federal Meat Inspection Act and the Poultry Products Inspection Act give USDA overall responsibility for ensuring the safety and wholesomeness of meat and poultry products that enter interstate commerce. Acting under these legislative authorities, USDA inspectors provide continuous government inspection of each and...