Academic journal article ABA Banking Journal

Other ABA Actions

Academic journal article ABA Banking Journal

Other ABA Actions

Article excerpt

In recent efforts ABA has:

* Hired a new housing and real estate lobbyist. He is Alan Greenlee, senior federal legislative representative. Greenlee was formerly a lobbyist for Freddie Mac--the Federal Home Loan Mortgage Corp.

* Urged the Federal Reserve Board to simplify Regulation O compliance by revamping Form FFIEC 004, which is used, at a bank's option, to fulfill mandatory requirements to report indebtedness of executive officers and principal shareholders to correspondent banks.

"Although the form does meet the requirements of Regulation O, many banks feel that it is unnecessarily complicated," ABA wrote in a comment letter. As a result, executive officers and shareholders frequently make errors when completing the form.

* Supported bank regulators' proposed guidelines for asset quality and earnings, both subsets of a set of guidelines on bank safety and soundness that were finalized earlier this year.

* Applauded--though with suggestions--new capital and related requirements for corporate credit unions. The National Credit Union Administration is putting these together in the wake of the recent failure of Capital Corporate Federal Credit Union. …

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