Financial Update (Fourth Quarter 2004)


 Appraisal Reviews
 Maintain Soundness

 GLBA Spurs
 Banks’ Insurance

 Conference Focuses
 on Remittances

 New Fed
 Brochures About
 Check 21

 Fed Distributes
 Redesigned $50s

 Atlanta Fed Chair,
 Vice Chair

 Will Privacy
 Concerns Prolong
 Cash Use?

 Fed Governor
 Sees Oil Prices
 Staying High

 Greenspan on
 Challenges of
 Aging Population

 Helping Consumers
 Avoid Overdrafts

 Examining Fannie
 Mae and
 Freddie Mac


 Data Bank

 Circular Letters



Atlanta Fed’s Chairman, Vice Chairman Reappointed for 2005

David M. Ratcliffe, chairman, president, and chief executive officer of Southern Co., has been reappointed chairman of the Federal Reserve Bank of Atlanta’s board of directors. Larkin Martin, managing partner of Martin Farm and vice president of The Albemarle Corp. in Courtland, Ala., has been reappointed deputy chairman. Their one-year terms as chairman and deputy chairman begin Jan. 1, 2005.

David M. Ratcliffe
Ratcliffe assumed his current responsibilities with Southern Co., one of the country’s largest producers of electricity, earlier this year. Previously, he had served as president and chief executive officer of Georgia Power Co. and executive vice president of Southern Co. since 1999. He joined Georgia Power Co. in 1971 as a biologist. During his career he has served as executive vice president of Southern Company Services, president and chief executive officer of Mississippi Power Co., and treasurer and chief financial officer of Georgia Power Co.

Larkin Martin
Martin oversees two family businesses, Martin Farm and The Albemarle Corp., with interests in agriculture and timberland, row crop farming, and cotton ginning. Before taking on those responsibilities in 1990, she worked in commercial real estate appraisal with GA/Partners-Arthur Andersen & Co. in Washington, D.C., and as a confidential assistant in the office of the secretary, U.S. Treasury Department. Martin is a former member of the board of directors of the Birmingham Branch of the Federal Reserve Bank of Atlanta.

The Atlanta Fed’s board of directors oversees the management of the bank’s operations and recommends changes in the discount rate. Board members also contribute to the formulation of U.S. monetary policy through the economic information they provide the bank’s president.