Federal Reserve Bank of Atlanta Circular Letters
Circular letters announce news, policy, and guidance from the Board of Governors.

• Agencies Release Annual CRA Asset-Size Threshold Adjustments for Small and Intermediate Small Institutions
  The federal bank regulatory agencies today announced the annual adjustment to the asset-size thresholds used to define "small bank," "small savings association," "intermediate small bank," and "intermediate small savings association" under the Community Reinvestment Act (CRA) regulations. The annual adjustments for banks are required by the 2005 CRA regulatory amendments and for savings associations by the Office of Thrift Supervision's 2007 CRA regulatory amendments.
• Annual Notice of Asset-Size Exemption Threshold for Depository Institutions
  The Federal Reserve Board on Monday published its annual notice of the asset-size exemption threshold for depository institutions under Regulation C, which implements the Home Mortgage Disclosure Act (HMDA).
• Federal Reserve and Other Central Banks Announce Measures Designed to Address Elevated Pressures in Short-Term Funding Markets
  Today, the Bank of Canada, the Bank of England, the European Central Bank, the Federal Reserve, and the Swiss National Bank are announcing measures designed to address elevated pressures in short-term funding markets.
• FOMC Statement
  Federal Open Market Committee decided today to lower its target for the federal funds rate 25 basis points to 4-1/4 percent. In a related action, the Board of Governors unanimously approved a 25-basis-point decrease in the discount rate to 4-3/4 percent.
• Agencies Issue Proposed Rules and Guidelines that Address Accuracy and Integrity of Consumer Report Information and Rules to Allow Direct Disputes
  The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency, the Office of Thrift Supervision and the Federal Trade Commission have approved proposed regulations and guidelines to help ensure the accuracy and integrity of information provided to consumer reporting agencies and to allow consumers to directly dispute inaccuracies with financial institutions and other entities that furnish information to consumer reporting agencies.
• Federal Reserve Announces Centralized Resource for Consumers Experiencing Problems with Banks or Other Financial Institutions
  The Board of Governors of the Federal Reserve System has announced a new resource for consumers who experience problems with banks or other financial institutions.
• FOMC Announces It Will Increase the Frequency and Expand the Content of Economic Projections Released to the Public
  The Federal Open Market Committee (FOMC) announced that, as part of its ongoing commitment to improve the accountability and public understanding of monetary policy making, it will increase the frequency and expand the content of the economic projections that are made by Federal Reserve Board members and Reserve Bank presidents and released to the public.
• Board Approves Fee Schedule for Federal Reserve Bank Priced Services
  The Federal Reserve Board announced the approval of fee schedules for Federal Reserve Bank payment services for depository institutions (priced services), effective January 2, 2008.
• Board Approves Final Rules to Implement Basel II Risk-Based Capital Framework
  The Federal Reserve Board approved final rules to implement new risk-based capital requirements in the United States for large, internationally active banking organizations. The new advanced capital adequacy framework, known as Basel II, more closely aligns regulatory capital requirements with actual risks and should further strengthen banking organizations' risk-management practices.
• Board Announces Amendments to Five Regulations to Clarify Requirements for Providing Consumer Disclosures in Electronic Form
  The Federal Reserve Board announced the adoption of amendments to five consumer financial services and fair lending regulations (Regulations B, E, M, Z, and DD) to clarify the requirements for providing consumer disclosures in electronic form.
• FOMC Statement
  Federal Open Market Committee decided today to lower its target for the federal funds rate 25 basis points to 4-1/2 percent. In a related action, the Board of Governors unanimously approved a 25-basis-point decrease in the discount rate to 5 percent.
• Agencies Propose Joint Rule to Implement Unlawful Internet Gambling Enforcement Act
  The Department of the Treasury and the Board of Governors of the Federal Reserve System announced the release of a joint proposed rule to implement the Unlawful Internet Gambling Enforcement Act. The Act prohibits gambling businesses from accepting payments in connection with unlawful Internet gambling, including payments made through credit cards, electronic funds transfers, and checks.
• Annual Adjustments for Reserve Calculations and Deposit Reporting, Regulation D
  The Federal Reserve Board announced the annual indexing of the reserve requirement exemption amount and of the low reserve tranche for 2008. These amounts are used in the calculation of reserve requirements of depository institutions. The Board also announced the annual indexing of the nonexempt deposit cutoff level and the reduced reporting limit that will be used to determine deposit reporting panels effective 2008.
• Agencies Adopt Final Rules to Implement the Bank "Broker" Provisions of the Gramm-Leach-Bliley Act
  The Securities and Exchange Commission (SEC) and Board of Governors of the Federal Reserve System (Board) announced the adoption of final joint rules to implement the "broker" exceptions for banks under Section 3(a)(4) of the Securities Exchange Act of 1934. These exceptions were adopted as part of the Gramm-Leach-Bliley Act of 1999 (GLB Act).
• Agencies Issue Final Rules on Expanded Examination Cycle
  The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the Office of Thrift Supervision issued final rules expanding the range of small institutions eligible for an extended 18-month on-site examination cycle.
• Agencies Request Comment on Statement of Best Practices on Garnishment Orders of Exempt Federal Benefit Funds
  The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the Office of Thrift Supervision, and the National Credit Union Administration requested public comment on a proposed statement encouraging federally regulated financial institutions to follow best practices to protect federal benefit payments from garnishment orders.
• FOMC Statement
  Federal Open Market Committee decided today to lower its target for the federal funds rate 50 basis points to 4-3/4 percent. In a related action, the Board of Governors unanimously approved a 50-basis-point decrease in the discount rate to 5-1/4 percent.
• Statement by Chairman Bernanke on the Death of Edward M. Gramlich, Former Member of the Board of Governors of the Federal Reserve System
  Statement of Chairman Ben S. Bernanke on the death of Edward M. Gramlich, former member of the Board of Governors of the Federal Reserve System: I will miss Ned both as a colleague and as a friend. His contributions to the Federal Reserve were broad and significant, including his leadership in consumer protection issues, his work to restructure the discount window, and his expertise and judgment in the making of monetary policy. But those who knew him will miss not only his penetrating insight and shining intelligence but also his great wit and warmth. I extend my deepest sympathy to his family.
• Federal Financial Regulatory Agencies and CSBS Issue Statement on Loss Mitigation Strategies for Servicers of Residential Mortgages
  The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the Office of Thrift Supervision, the National Credit Union Administration and th