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| RECENT NEWS |
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IBAT Offices to Reopen Thursday
Due to the bad weather in Central Texas, the IBAT offices were closed Tuesday and Wednesday. But thanks to some amazing advances in technology (and our IT guru - TJ Scott), most of our staff have been able to work from home. We even tested parts of our Disaster Recovery Plan by activating our telephone tree and conducting our weekly staff meeting via telephone and webcast. We hope our members have not been too inconvenienced, and we anticipate being back in the office on Thursday.
IBAT Regional Meetings
You still have time to register for our 2007 Regional Meeting Tour de Texas! Thanks to the generosity of our sponsors, there is no cost to attend. For more information or to register, click HERE.
SPECIAL NOTE: The McAllen meeting has been moved. Please make note of the new location:
Monday, January 22
RECEPTION – 5:30-7:00pm
La Mexicana Restaurant
4300 N. Col. Rowe Blvd. (2nd Street)
FCA Extends Comment Period on Expanding FCS Lending for Processing & Marketing Loans
FCA has agreed to extend the comment period on a proposed regulation to expand FCS lending to processing and marketing firms as requested by ICBA and several state independent banking associations. The comment period will now close February 26th. ICBA raised a number of concerns and questions in a December 15th letter asking for the extension. ICBA noted that the regulation appears to allow for a dramatic shift from farmer-owned cooperatives to virtually any type of commercial entity that could be considered a 'marketing firm' including the likes of Wal-Mart and other publicly traded companies as well as large commercial businesses loosely involved in any type of handling, advertising, marketing, or distribution of agriculturally-related products. While the FCA suggested this is not the intent in the notice to extend the comment period, ICBA's comments noted that the proposed regulation made eligibility criteria very easy for FCS to lend to commercial businesses; was very subjective and lacking in meaningful standards that FCS lenders would have to meet; and that the regulations would be practically unenforceable from an examination standpoint.
In learning of ICBA's request for a time extension, the Farm Credit Council on December 19th filed a letter of opposition, stating that the proposed rule is of 'vital importance to America's farmers and ranchers,' that 'ample time' has already been provided to interested parties to review and comment. FCS claims the proposal will allow them to provide credit to bona fide farmers and ranchers for their processing and marketing needs in light of changing ownership structures in the modern agricultural economy. FCS lenders state that some current farm borrowers cannot obtain FCS credit for their processing and marketing operations because of the way ownership of the processing or marketing operation is structured. FCA's proposal, however, allows loans to firms with no farmer ownership, which ICBA argued is inconsistent with the statute's wording. Comments to FCA can be emailed to regcomm@fca.gov.
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| ON THE HILL |
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Don’t forget to send in your registration form for the IBAT/TBA 2007 Bankers Legislative Day on Wednesday, February 28.
The day begins with a continental breakfast and legislative briefing in the Capitol Extension. We’ll then hear from a few special guests and adjourn in time for you to visit your legislators’ offices and escort them to the luncheon.
IBAT has secured a block of rooms at the Radisson Hotel at 111 East Cesar Chavez Street for $139 per night. If you would like a room at the Radisson, please check the appropriate box on your registration form.
For questions, call Mae Beth at 1-800-749-4228. |
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| LEGAL EASE QUESTION OF THE WEEK |
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Question: The grantors for a revocable, living trust have all died. We were using a grantor's SSN. Help! What TIN do we use? Are we in trouble?
To find out the answer, click on the flashing question mark. And you can also check out our searchable database of other frequently asked questions. |
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| SOLUTIONS FROM SERVICES |
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The Gramm Leach Bliley Act states that financial institutions must assure that their IT systems have reasonable protection from the rising incidence of phishing, identify theft and other types of online fraud. Endorsed by IBAT, SecureWorks is the only service provider that prevents network intrusion at the perimeter, firewall and host levels. IBAT Services invites you to join them in San Antonio at theIBAT IT Security Summit on February 8th.
The Baker Group hosted their Investment Strategies for 2007's 1st Quarter conference call on January 11th. If you missed it, the Baker Group would like to invite you to view the recorded version of the conference call. Contact Chris Wilson with The Baker Group at cwilson@gobaker.com and he will provide the necessary details. The Baker Group will also be hosting IBAT's Bank Investment Basics Summit February, 22 in Dallas. Join other fellow bankers and learn the basics of community bank investment portfolio management. |
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| BAKER WEEKLY |
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Crude oil fell more than 7%...the U.S. trade balance narrowed...November’s consumer credit expenditures more than doubled economists’ forecasts...retail sales came in higher than expected...Read more in this week's Baker Weekly.
Although this information has been obtained from sources, which we believe to be reliable, we do not guarantee its accuracy. This is for information purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security. |
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| IBAT EDUCATION FOUNDATION |
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Question: In the Fun Facts of the "Money Math: Lessons for Life" web site, how much money did some banks sell a $25 Savings Bond for to commemorate the Bicentennial in July 1976?
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ON THE EDUCATION FRONT |
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2007 IT Security Summit
February 8, 2007 - Radisson Hill Country Resort & Spa, San Antonio
Are phishers casting their nets on your bank?
Are you buried in security logs and aren't aware of the legal and technical considerations regarding security log analysis?
Do you know the latest techniques hackers are using to break into your bank?
So many questions, so many answers to be discussed at the first IBAT IT Security Summit!
2007 Bank Investment Basics Summit
February 22, 2007 - The Westin Dallas/Fort Worth Airport
Hotel Deadline 1/31
More information...
What is a bond? What is the price/yield relationship? What affects the price/yield of a bond?
Discussion of the characteristics of each type of bond.
Discussion of basic analysis of specific bonds.
Basics of portfolio management. |
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COMING SOON |
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For a complete listing of upcoming events, click here. Meanwhile, please mark your calendar for some of our key events for 2007.
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January 28-30, 2007 - South Lake Tahoe, NV |
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February 22, 2007 - D/FW Airport |
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February 28, 2007 - Austin |
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March 8-11, 2007 - Maui, HI |
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IBAT Leadership Conference
June 14-16, 2007 - Hyatt Lost Pines Resort |
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IBAT 33rd Annual Convention
September 30 - October 2, 2007 - Fort Worth |
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TechMecca 2007
November 28-29, 2007 - Las Vegas | | |
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Contact IBAT or if you have comments or questions about this newsletter,
email or call Bonnie Kankel at (800) 749-4228. |
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