Financial Update (January-March 1996)

New Products and Publications

Community Development Guide Updated

A new community development investment guide is available for state member banks and bank holding companies, along with an annual update of community development investments by bank holding companies.

The guide provides an overview of policies and procedures required in forming community development corporations and for other uses of equity investments for community development purposes. Regulatory and strategic issues are also covered for institutions investing in community development corporations, low-income housing limited partnerships, or other projects that benefit low- and moderate-income families.

For a copy of the updated guide, which was released in January, call the community affairs office of the Atlanta Fed's Supervision and Regulation Department at (404) 589-7307.

FOMC Meeting Transcripts Released

The Federal Reserve Board of Governors also released in January transcripts of Federal Open Market Committee meetings held in 1990. The package contains transcripts of eight regular meetings and four telephone conference calls. Confidential information, such as information pertaining to individual foreign central banks and private businesses, has been edited out of the transcripts.

The FOMC releases transcripts for an entire year after five years have passed. Minutes from each meeting are issued after about six weeks, and decisions made at each meeting are announced on the day of the meeting.

Copies of the transcripts are available from the Board's Freedom of Information Office, Room MP-500, Federal Reserve Board, 20th and C streets, Washington, D.C. 20551. The phone number for the FOI Office is (202) 452-3684.

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