Community Banker Alert

As you will recall, PACB, in conjunction with the FHLBank Pittsburgh vigorously opposed a proposed FDIC rule that would have treated FHLBank advances as volatile liabilities. The FDIC received 569 comments on this issue nationwide and PACB was directly instrumental with our members’ terrific response and support in generating over 50 of those comment letters. The FDIC recently issued its final rule indicating that FHLBank advances will not be treated as volatile liabilities with regard to the calculation of premiums – this was an important win for us and for the availability of credit through the FHLBank system.

Also, I am attaching a Legal Alert prepared by Shumaker Williams, P.C. on new Pennsylvania amendments to the Mechanics’ Lien Law. You may want to share this with your commercial lending staff.

As always, please contact me or Dave Transue if you have any questions.