Important Dates

Teague Consulting Group

Financial Institution Compliance Specialists

Important Dates
2007

* * * * * Sample Page * * * * *

Other Years

January
1/1/07	Anticipated date to begin "parallel run" of the *Basel II* "advanced approaches"; i.e., the advanced internal ratings-based approach (IRB) for measuring "credit risk" and the advanced measurement approaches (AMA) for "operational risk". Extended to 1/1/08
1/1/07	Mandatory compliance date for FRB's final amendments to *Regulation E* regarding electronic check conversion services.
1/1/07	General applicability date of IRS' final rule on reporting payments of gross proceeds to attorneys (IRS Form *1099-MISC*).
1/1/07	General applicability date of IRS' final rule regarding employer comparable contributions to *Health Savings Accounts* (HSAs).
1/1/07	Effective date of FRB's adjustment to the dollar amount that triggers certain requirements of *Regulation Z* for *"high-cost" mortgages*.
1/1/07	Effective date of FRB's interim final amendments to *Regulation E* dealing with (1) a consumer's authorization to collect an NSF fee via EFT, and (2) the notice requirements for electronic check conversion transactions.
1/1/07	Effective date of FDIC's final rule that implements the *dividend requirements* in the Federal Deposit Insurance Reform Act of 2005.
1/1/07	Effective date of FDIC's final rule that sets the *designated reserve ratio* for the Deposit Insurance Fund (DIF) at 1.25% of estimated insured deposits.
1/1/07	Effective date of FDIC's final rule that makes the *deposit insurance assessment system* react more quickly and more accurately to changes in institutions' risk profiles.
1/1/07	Effective date of FDIC's final rule regarding *insurance assessments* (differentiation frameworks and base assessment rate schedules).
1/2/07	Comments due on proposed changes to the *Bank Call Report* and the *Thrift Financial Report* dealing with (1) deposit insurance assessments, (2) time deposit information, (3) fair value measurements, (4) negative amortization loans, and (5) servicing of loan participations.
1/10/07	Comments due on FRB's interim amendments to *Regulation O* that eliminate certain reporting requirements.
1/11/07	Effective date of joint interagency interim rule regarding *Management Official Interlocks*.
1/19/07	Effective date of NCUA's amendment to its investment rules to allow federal credit unions to enter into *investment repurchase transactions* in which the instrument consists of first-lien mortgage notes.
1/23/07	Comments due on interagency proposed new risk-based capital adequacy framework (a/k/a *Basel II). * Extended to 3/26/07 **
1/23/07	Comments due on interagency proposed changes to the *market risk capital rules*.
1/23/07	Comments due on OTS' proposed changes to its *Community Reinvestment Act* (CRA) regulations that would make them consistent with the CRA rules of other Federal banking regulators.
1/23/07	Comments due on proposed new regulatory reporting requirements for institutions that implement *Basel II. * Extended to 3/26/07 **
1/30/07	Comments due on FRB's proposed amendment to *Regulation E* that would exempt certain small-dollar transactions from the requirement that terminal receipts be made available to consumers at the time of the transaction.
February
2/2/07	Comments due on FDIC's proposed *Guidelines on Small-Dollar Loans*.
2/12/07	Comments due on joint interagency interim rule regarding *Management Official Interlocks*.
March
3/13/07	Comments due on FDIC's revised proposal to modernize the *deposit insurance* determination process for large banks.
3/16/07	Proposed effective date of NACHA's proposed *OFAC and Operator Related Changes To The ACH Network.*
3/16/07	Effective date of NACHA's rules regarding *"back-office check conversion"* (Standard Entry Class Code "BOC").
3/16/07	Comments due on revised proposed changes to the *Bank Call Report* and the *Thrift Financial Report* dealing with (1) deposit insurance assessments, (2) time deposit information, (3) fair value measurements, (4) negative amortization loans, and (5) servicing of loan participations.
3/26/07	Comments due on interagency proposed new risk-based capital adequacy framework (a/k/a *Basel II). * Extended from 1/23/07 **
3/26/07	Comments due on proposed revisions to the existing risk-based capital framework (a/k/a *BASEL I) that would enhance its risk sensitivity. The revised framework is sometimes referred to as BASEL I-A*.
3/26/07	Comments due on proposed new regulatory reporting requirements for institutions that implement *Basel II. * Extended from 1/23/07 **
3/26/07	Comments due on FRB's & SEC's proposed rule that would implement the bank *"broker" exceptions* that were included in the Gramm-Leach-Bliley Act of 1999.
3/26/07	Effective date of NCUA's final rule that revises the *general lending maturity limit* and permits Federal credit unions to provide certain, limited financial services to nonmembers within their fields of membership.
3/31/07	Effective date of OTS' final changes to the *Thrift Financial Report*.