Operations Report

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The federal bank regulators published their joint proposal on supervisory guidance related to Basel II implementation. (72 Fed. Reg. 9084 (Feb. 28, 2007).) The proposed guidance describes agency expectations for banking organizations that would adopt the advanced internal ratings-based approach for credit risk, and the advanced measurement

approaches for operational risk. The proposal also includes guidance on the Basel II supervisory review process for assessing capital adequacy. The comment deadline is May 29.

AND:

In December, the FDIC and the FRB issued for comment a draft interagency notice of proposed rulemaking that would allow the majority of financial institutions not adopting the Basel II capital accord to choose between the current Basel II system and a more risk-sensitive Basel IA capital

regime.

AND:

As you may know by following these pages, figuring out which agency’s telemarketing rules apply to financial institutions is a little bit like competitive double-Dutch rope skipping.

AND:

A California appellate court found that HOLA and OTS regulations preempted claims challenging prepayment penalties brought under California’s Unfair Competition Law and common law.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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