News and Views for Eighth District Bankers
Vol. 21 | No. 1www.stlouisfed.org/publications/cb
is published quarterly by thePublic Aairs department o the FederalReserve Bank o St. Louis. Views expressedare not necessarily ofcial opinions o theFederal Reserve System or the FederalReserve Bank o St. Louis.Sign up or
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P.O. Box 442, St. Louis, MO 63166-0442.The Eighth Federal Reserve District includesall o Arkansas, eastern Missouri, southern
Tennessee, and northern Mississippi. TheEighth District ofces are in Little Rock,Louisville, Memphis and St. Louis.
By Julie Stackhouse
his issue o
containstwo articles on the recent FederalReserve rulemaking that would limitdebit interchange ees. (See articleson Page 1 and online at stlouised.org/publications/cb.) Banks rom acrossthe country have voiced their opinionson this controversial rulemaking by using a public comment process thatclosed in late February. More than7,000 comments were received by theBoard o Governors.The ormal comment process onproposed regulations is one channelopen to bankers to express opinions.There are many other channels, as well.Clearly, much communication occursthrough the supervisory process.Moreover, it is not uncommon or Fed economists and regu-lators to speak at community and industry events in whichbankers, community groups, academics and members o thegeneral public are in attendance.More recently, the Board o Governors announced a new communication vehicle or depository institutions, createdthrough the ormation o Community Depository Institu-tions Advisory Councils. (See article on Page 4.) Thesecouncils, which have been established in all 12 FederalReserve Districts, will be comprised o senior executivesrom community lending institutions (commercial banks,thrits and credit unions with less than $10 billion in assets).At least twice per year, council members will meet to discussa variety o issues, including local economic and bank-ing conditions, and regulatory matters. The leader o eachcouncil will travel to Washington, D.C., twice per year toshare the view o his or her District council with the Boardo Governors.Inormation sharing and dialogue is important or bank-ers and regulators alike. We view it as critical that the voiceo “main street” lending institutions be considered in theormulation o good supervisory policy.We will do our best to improve and grow the dialogue process.We hope you will eel comortable contributing your voice!
Julie Stackhouse issenior vice president of the St. Louis Fed’sdivision of BankingSupervision, Credit and the Center forOnline Learning.