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Washington
Inside Washington (05/04/2009)
* WASHINGTON (5/5/09)--Stress-test results for 19 of the nation’s largest banks have been pushed back until Thursday, federal regulators said (CNNMoney.com). The results are expected to come in Thursday afternoon. The delay was triggered by a disagreement among some banks over the results of the tests. Last Friday, regulators began notifying participating institutions of the results, according to Austan Goolsbee, an economic adviser for President Barack Obama. Goolsbee emphasized that the tests were not pass/fail. Instead, the tests were designed to determine each institution’s health and need for additional capital ... * WASHINGTON (5/5/09)--The failure of Silverton Bank of Atlanta could lead to more scrutiny of the Office of the Comptroller of the Currency and its decision to allow the institution to convert to a national bank (American Banker May 4). The OCC said Friday that the institution had a business plan that the agency thought was workable and that the bank was supervised. Silverton failed on Friday, leaving behind 1,000 customers and 400 stockholders. Its operations had been folded into a bridge bank by the Federal Deposit Insurance Corp. ... * WASHINGTON (5/5/09)--Federal Deposit Insurance Corp. (FDIC) Chairman Sheila Bair said Monday that Michael Bradfield will be the agency’s new general counsel. As general counsel, Bradfield will oversee the legal division, which is responsible for legal work on regulatory issues, FDIC transactions, litigation, corporate and commercial claims. Bradfield formerly served as general counsel for the Federal Reserve Board ...


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