Federal Reserve Board setting new standards for banks engaging in certain types of foreign exchange transactions

[dizzyd]

I just received this email alert from the office of the Federal Reserve Board (office@ffiec.gov). This is coinciding with what we've been expecting due to the changes introduced from the Dodd-Frank Act. I imagine this is one of the reasons the Dealers have been shutting down or been shut down. It will be interesting to see how this changes how banks are currently handling foreging currency purchases in the future. I think the timing is pretty interesting given all that is presently happening, go RV, hope this brings us closer to the finish line.

20110805122748086.pdf

[Butifldrm]

Thanks for the post and the information. Hopefully we will see very soon, how all this plays out.

[sportfisher]

they want them to be "well capitalized"

[teddyruxbin]

I just received this email alert from the office of the Federal Reserve Board (office@ffiec.gov). This is coinciding with what we've been expecting due to the changes introduced from the Dodd-Frank Act. I imagine this is one of the reasons the Dealers have been shutting down or been shut down. It will be interesting to see how this changes how banks are currently handling foreging currency purchases in the future. I think the timing is pretty interesting given all that is presently happening, go RV, hope this brings us closer to the finish line.

The Federal Reserve is like the NWO s favorite pet so this is very interesting indeed.

sounds they they are trying to maximize their own profits while at the same time minimizing the amount we common folk will take away..

Edited August 6, 2011 by teddyruxbin

[HappyVegas]

Dizzyd, do you mind my asking if you are in the banking industry? I'm trying to figure out who this was sent out to. Thank you!

[Gaet028]

Thanks for the post.....

Cheers

[Kanga]

Hum, not sure intent. I definitely overpaid for my IQD on the first 2 transactions. Save almost 15% of cost when I went through a bank after that. Maybe it makes internet sellers harder to be able to sell. I am sure my bank still will sell, but it might drive the cost up 1% to meet the new requirements.

[tandy]

thx for the post...always question the feds reasons

[Dinardasher]

Sounds like another example of the shamelessly wealthy keeping their greedy hands in everyone's pockets whilst cruising around in their 300 million dollar yacht.

GO GO GO RV!!!

[dizzyd]

Dizzyd, do you mind my asking if you are in the banking industry? I'm trying to figure out who this was sent out to. Thank you!

Yes I am in the banking idustry, however I received this notification alert because I signed up to receive them by going to their website and making the request.

[sillyseaserpent]

The "margins" is what concerns me. Sounds like they're wanting the banks to spread as far as they can.

[wavggg]

It also says their comment review period will conclude in October and then they will implement new rules.

So do you think this means we'll be waiting until after October. The Fed sure won't want to have things taking place until they are fully prepared, right?

-gg

[dizzyd]

It also says their comment review period will conclude in October and then they will implement new rules.

So do you think this means we'll be waiting until after October. The Fed sure won't want to have things taking place until they are fully prepared, right?

-gg

Who knows for sure GG, could be, but what's another month and a half, lol....

[debbieb40]

It is odd to me that there is no header on the document..was it from an email? or copied and pasted? just thinking outoud

Hope we do not have to wait until the end of the year for our blessing

Thank you for the post

[waitn]

Dodd Frank has done nothing but STEAL money from hard working americans and put the money in the hands of BIG BANKS. It has elimated competition in almost all arena's on finances. Thus you go to buy a home today or refinance and you are paying a ridiculous spread above market. Prior to Dodd Frank the banks were forced to be competitive by the brokers and smaller companies that actually had 65% of the market. After Dodd Frank, you pay premium.

The spread on a 30 year mortgage as of Friday was 9 points on 4.5% If you have a $300K loan they make $27,000 dollars before it is even sold on the secondary. You, the american people already bailed out the secondary market. Fannie and Freddie. Now owned by the governement since 2008. You the american people paid dearly, as those investors prior to the american people owning them.... Crashed our market, killed our jobs, and sold the american Dream as they laughed feverishly with pockets so full, we could only image that amount of wealth.TRILLIONS. They were completely left untouched, unharmed and YOU, the tax payer picked up their bill for crashing life as we knew it.

THIS IS COMPLETE BS and the biggest scam on America EVER. People think this law is to protect them, it is NOT! It is to make our banks bigger and stronger and wipe out their competition. Just like this portion of the act, is designed to do.

How much has your home depreciated? Wait, it is going down more. Have you lost a job, took a cut in pay. Lost your 401K, retirement accounts, stocks, and bonds. WHY? DODD FRANK..... does. That whole joke of a law is helping the people that took your money get it back plus more.

As some American citizens sit in the corner with their dumb cap on, thinking someone is actually looking out for you. Anyone who supports that law, vote them out of office next term. Your life will improve and you might not be so desperate for the dinar to RV.