As of the reporting date, the depository institutions
have little or no information about recent loss events.
The Monetary Control Act of 1980 requires the Federal Reserve to set fees for the services it provides to depository institutions
at a level sufficient to recover, over the long run, the actual costs of providing these services, as well as the imputed costs and profits.
These counts do not include other channels for delivering banking services, Hence, the reduction in the number of insured depository institutions
does not mean a decrease in the availability of bank services for the average consumer.
The sidebar, pages 66-67, includes a summary of the accounting and auditing provisions of the banking bill that appear in section 112, "Independent Annual Audits of Insured Depository Institutions
," and section 121, "Accounting Objectives, Standards, and Requirements.
As we complete the acquisition of SGV Bancorp, IndyMac Bank will become the ninth largest depository institution
(in terms of assets) headquartered in California and will be uniquely positioned as the leading new asset generator over the Web among FDIC insured financial institutions," continued Mr.
The depot also distributes currency orders that depository institutions
have placed with the Reserve Bank.
This amendment to Rule 6530 limits quotations on the OTCBB to the securities of issuers that make current filings pursuant to Sections 13 and 15(d) of the Act, securities of depository institutions
that are not required to make filings under the Act but file publicly-available reports with the appropriate regulatory agencies, registered closed-end investment companies, and insurance companies that are exempt from registration under Section 12(g)(2)(G) of the Act.
9) The Board has carefully reviewed the competitive effects of the proposal in this banking market in light of all the facts of record, including the number of competitors that would remain in the market, the relative shares of total deposits in depository institutions
in the market ("market deposits") controlled by Citizens Bank and First National Bank, (10) the concentration level of market deposits and the increase in this level as measured by the Herfindahl-Hirschman Index ("HHI") under the Department of Justice Merger Guidelines ("DOJ Guidelines"), (11) and other characteristics of the market.
We plan to capitalize on our strengths as a California-based company with proprietary risk-based pricing technology, an Internet presence and the ability, as a major mortgage banker, to turn our assets frequently, to place IndyMac among the highest-performing depository institutions
in the country in terms of return on equity and earnings-per-share growth," added Perry.
With the exit of the Reserve Banks, depository institution
customers of the noncash collection service could instead use a private-sector service provider, such as the Depository Trust Company or a correspondent bank, to collect their definitive municipal bonds and coupons or could present these items for payment directly to the paying agent.
In examining the employment trends, Valletta notes a big difference between depository institutions
and other subsectors of the finance industry.
The federal bank and credit union regulatory agencies announced on February 18, 2005, final joint guidance to assist insured depository institutions
in the disclosure and administration of overdraft protection programs.