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The Federal Reserve Board is amending appendix A of Regulation CC to delete the reference to the Windsor Locks office of the Federal Reserve Bank of Boston and to reassign the Federal Reserve
routing symbols currently listed under that office to the head office of the Federal Reserve Bank of Philadelphia. These amendments reflect the restructuring of check-processing operations within the Federal Reserve System.

The final rule will become effective on September 20, 2008.

The FDIC has published two rules in the July 17, 2008 Federal Register that address precautions in the event an institution should fail. 

A final rule would require the largest insured depository institutions to adopt mechanisms that would, in the event of the institution's failure: provide the FDIC with standard deposit account and other customer information; and allow the placement and release of holds on liability accounts, including deposits.

An interim rule establishes the FDIC's practices for determining deposit and other liability account balances at a failed insured depository institution.

In a meeting with compliance examiners, the Comptroller of the Currency John C. Dugan stated that the OCC must continue to focus on consumer compliance while it deals with the credit quality problems that are now confronting the industry.  According to Dugan, "We simply cannot take our eyes off compliance while we address safety and soundness.  We know how to deal with credit issues, and we will work our way through these very difficult problems. What I don't want, though, is to finish dealing with the industry’s safety and soundness issues only to find that we've allowed significant compliance problems to develop in their place."

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