Annual Report 2002 - ffiec

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administrative staff in its operations office, and its examiner education program is administered by Council staff at its examiner training facility in Arlington, Virginia. Each Council staff member is detailed from one of the five agencies represented on the Council but is considered an employee of the Council. 2
The following section is a chrono– logical record of the official actions taken by the FFIEC during 2002 pursuant to sections 1006, 1007, and 1009A of the Federal Financial Institutions Examination Council Act of 1978, Public Law 95-630; section 304 of the Home Mortgage Disclosure Act (HMDA), Public Law 94-200; and the Riegle Community Development and Regulatory Improvement Act of 1994 (RCDRIA), Public Law 103-325. February 20 Action. Unanimously approved the 200l annual report of the Council to the Congress. Explanation. The legislation establishing the Council requires that, not later than April l of each year, the Council publish an annual report covering its activities during the preceding year. March 25 Action. Unanimously approved the issuance of the Council’s annual interagency awards. Explanation. The Council has an interagency awards program that recognizes individuals of the member agencies who have provided outstanding service to the Council on interagency projects and programs during the previous year. March 25 Action. Unanimously approved the proposed alternative to the Risk Management Planning Seminar. Explanation. The Task Force on Examiner Education presented several alternatives for delivering the risk management seminar to bank- RECORD OF COUNCIL ACTIVITIES The Examination Council in Session. ers. The Council considered the pos- appointment of six task force chairs. sible options and decided that the FFIEC would replace the conference with a combination of risk management materials on the FFIEC website and outreach programs from the agencies to the banking industry. Explanation. The chairs for all six standing task forces are approved annually and are drawn from management and staff of the five member agencies. March 25 March 25 Action. Unanimously approved the Action. Unanimously endorsed the appointments of Elizabeth McCaul, general milestones each FFIEC task Superintendent of Banking, New force established, with target com- York State Banking Department, pletion dates set for 2002. and John Allison, Commissioner, Explanation. Each of the six task forces compiled a summary project list with projected completion dates, milestones, and priorities for pro- Mississippi Department of Banking and Consumer Finance, to serve on the Council’s State Liaison Committee. jects and programs planned for the Explanation. The State Liaison Com- 2002 calendar year. mittee is comprised of five members who serve two-year terms. Two are appointed by the Council, and March 25 the remaining three members are appointed by the Conference of Action. Unanimously approved the State Bank Supervisors, the National 3
Page 1 and 2: Federal Financial Institutions Exam
Page 3 and 4: Susan Schmidt Bies Member Board of
Page 5 and 6: vii Message from the Chairman TABLE
Page 7: OVERVIEW OF THE FEDERAL FINANCIAL I
Page 11 and 12: The State Liaison Committee (SLC) c
Page 13 and 14: In 2002, the task force completed t
Page 15 and 16: Update was sponsored by one or two
Page 17 and 18: Long-term management of the CDR fac
Page 19 and 20: soundness implications of certain c
Page 21 and 22: Projects Currently Under Way Review
Page 23 and 24: evenue it generates principally fro
Page 25 and 26: the FDIC and the Neighborhood Reinv
Page 27 and 28: INCOME AND EXPENSES of U.S. Commerc
Page 29 and 30: cable federal financial institution
Page 31 and 32: (b) Monitoring and Reviewing Founda
Page 33 and 34: FEDERAL FINANCIAL INSTITUTIONS EXAM
Page 35 and 36: FEDERAL FINANCIAL INSTITUTIONS EXAM
Page 37 and 38: Independent Auditors' Report on Com
Page 39 and 40: 34 THE FEDERAL RESERVE SYSTEM DISTR
Page 41 and 42: 36 NATIONAL CREDIT UNION ADMINISTRA
Page 43 and 44: 38 OR CA Daly City ALASKA NV ID Wes

Annual Report 2002 - ffiec

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