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102 Federal Reserve Bulletin • Winter 2005
Federal Reserve Board of Governorsand Official Staff
ALAN GREENSPAN, ChairmanROGER W. FERGUSON, JR., Vice Chairman
EDWARD M. GRAMLICHSUSAN SCHMIDT BIES
OFFICE OF BOARD MEMBERSMICHELLE A. SMITH, Director
WINTHROP P. HAMBLEY, Assistant to the Board andDirector for Congressional Liaison
ROSANNA PIANALTO-CAMERON, Special Assistant to the BoardDAVID W. SKIDMORE, Special Assistant to the BoardLARICKE D. BLANCH ARD, Special Assistant to the Board
for Congressional Liaison
LEGAL DIVISIONSCOTT G. ALVAREZ, General CounselRICHARD M. ASHTON, Associate General CounselSTEPHANIE MARTIN, Associate General CounselKATHLEEN M. O'DAY, Associate General CounselANN E. MISBACK, Assistant General CounselKATHERINE H. WHEATLEY, Assistant General CounselCARY K. WILLIAMS, Assistant General Counsel
OFFICE OF THE SECRETARY
JENNIFER J. JOHNSON, Secretary
ROBERT DEV. FRIERSON, Deputy SecretaryMARGARET M. SHANKS, Assistant Secretary
DIVISION OF BANKING SUPERVISIONAND REGULATION
RICHARD SPILLENKOTHEN, Director
STEPHEN M. HOFFMAN, JR., Deputy DirectorHERBERT A. BIERN, Senior Associate DirectorROGER T. COLE, Senior Associate DirectorMICHAEL G. MARTINSON, Senior AdviserDEBORAH P. BAILEY, Associate DirectorNORAH M. BARGER, Associate DirectorBETSY CROSS, Associate DirectorGERALD A. EDWARDS, JR., Associate DirectorJAMES V. HOUPT, Associate DirectorJACK P. JENNINGS, Associate DirectorPETER J. PURCELL, Associate DirectorMOLLY S. WASSOM, Associate DirectorDAVID M. WRIGHT, Associate DirectorBARBARA J. BOUCHARD, Deputy Associate DirectorANGELA DESMOND, Deputy Associate DirectorJAMES A. EMBERSIT, Deputy Associate DirectorCHARLES H. HOLM, Deputy Associate DirectorWILLIAM G. SPANIEL, Deputy Associate DirectorSTACY COLEMAN, Assistant DirectorJON D. GREENLEE, Assistant DirectorWALT H. MILES, Assistant DirectorWILLIAM C. SCHNEIDER, JR., Assistant DirectorWILLIAM F. TREACY, Assistant Director
DIVISION OF INTERNATIONAL FINANCEKAREN H. JOHNSON, Director
DAVID H. HOWARD, Deputy DirectorTHOMAS A. CONNORS, Senior Associate DirectorRICHARD T. FREEMAN, Associate DirectorSTEVEN B. KAMIN, Associate DirectorWILLIAM L. HELKIE, Senior AdviserDALE W. HENDERSON, Senior AdviserJON W. FAUST, Assistant DirectorJOSEPH E. GAGNON, Assistant DirectorWILLENE A. JOHNSON, Adviser
MICHAEL P. LEAHY, Assistant DirectorD. NATHAN SHEETS, Assistant DirectorRALPH W. TRYON, Assistant Director
DIVISION OF RESEARCH AND STATISTICS
DAVID J. STOCKTON, Director
EDWARD C. ETTIN, Deputy DirectorDAVID W. WILCOX, Deputy DirectorMYRON L. KWAST, Associate DirectorSTEPHEN D. OLINER, Associate DirectorPATRICK M. PARKINSON, Associate DirectorLAWRENCE SLIFMAN, Associate DirectorCHARLES S. STRUCKMEYER, Associate DirectorDAVID L. REIFSCHNEIDER, Deputy Associate DirectorWILLIAM L. WASCHER III, Deputy Associate DirectorALICE PATRICIA WHITE, Deputy Associate DirectorJOYCE K. ZICKLER, Deputy Associate DirectorDOUGLAS ELMENDORF, Assistant DirectorMICHAEL GIBSON, Assistant DirectorDIANA HANCOCK, Assistant DirectorJ. NELLIE LIANG, Assistant DirectorS. WAYNE PASSMORE, Assistant DirectorJANICE SHACK-MARQUEZ, Assistant DirectorDANIEL SICHEL, Assistant DirectorMARY M. WEST, Assistant DirectorGLENN B. CANNER, Senior AdviserDAVID S. JONES, Senior AdviserTHOMAS D. SIMPSON, Senior Adviser
DIVISION OF MONETARY AFFAIRS
VINCENT R. REINHART, Director
BRIAN F. MADIGAN, Deputy DirectorJAMES A. CLOUSE, Deputy Associate DirectorWILLIAM C. WHITESELL, Deputy Associate DirectorCHERYL L. EDWARDS, Assistant DirectorWILLIAM B. ENGLISH, Assistant DirectorATHANASIOS ORPHANIDES, Adviser
DEBORAH J. DANKER, Special Assistant to the Board
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
Winter 2005
103
MARK W. OLSONBEN S. BERNANKE
DONALD L. KOHN
DIVISION OF CONSUMERAND COMMUNITY AFFAIRS
SANDRA F. BRAUNSTEIN, Director
GLENN E. LONEY, Deputy DirectorADRIENNE D. HURT, Associate DirectorIRENE SHAWN MCNULTY, Associate Director
JAMES A. MICHAELS, Assistant DirectorTONDA E. PRICE, Assistant Director
OFFICE OFSTAFF DIRECTOR FOR MANAGEMENT
STEPHEN R. MALPHRUS, Staff DirectorSHEILA CLARK, EEO Programs DirectorLYNN S. FOX, Senior Adviser
MANAGEMENT DIVISION
H. FAY PETERS, DirectorDARRELL R. PAULEY, Deputy DirectorSTEPHEN J. CLARK, Senior Associate DirectorCHRISTINE M. FIELDS, Associate DirectorMARSHA W. REIDHILL, Associate DirectorBILLY J. SAULS, Associate DirectorDONALD A. SPJCER, Associate DirectorCHARLES O'MALLEY, Assistant DirectorJAMES RIESZ, Assistant Director
DIVISION OF INFORMATION TECHNOLOGY
MARIANNE M. EMERSON, Director
MAUREEN T. HANNAN, Deputy DirectorTILLENA G. CLARK, Assistant DirectorGEARY L. CUNNINGHAM, Assistant DirectorWAYNE A. EDMONDSON, Assistant DirectorPo KYUNG KIM, Assistant DirectorSUSAN F. MARYCZ, Assistant DirectorSHARON L. MOWRY, Assistant DirectorRAYMOND ROMERO, Assistant Director
DIVISION OF RESERVE BANK OPERATIONSAND PAYMENT SYSTEMS
LOUISE L. ROSEMAN, Director
PAUL W. BETTGE, Associate DirectorJEFFREY C. MARQUARDT, Associate DirectorKENNETH D. BUCKLEY, Assistant DirectorJOSEPH H. HAYES, JR., Assistant DirectorLISA HOSKINS, Assistant DirectorDOROTHY LACHAPELLE, Assistant DirectorJEFF J. STEHM, Assistant DirectorJACK K. WALTON II, Assistant Director
OFFICE OF THE INSPECTOR GENERAL
BARRY R. SNYDER, Inspector GeneralDONALD L. ROBINSON, Deputy Inspector GeneralELIZABETH A. COLEMAN, Assistant Inspector GeneralLAURANCE A. FROEHLICH, Assistant Inspector GeneralWILLIAM L. MITCHELL, Assistant Inspector General
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
Winter 2005
304 Federal Reserve Bulletin • Spring 2005
Federal Reserve Board of Governorsand Official StaffApril 15, 2005
ALAN GREENSPAN, Chairman
ROGER W. FERGUSON, JR., Vice ChairmanEDWARD M. GRAMLICHSUSAN SCHMIDT BIES
OFFICE OF BOARD MEMBERS
MICHELLE A. SMITH, Director
WINTHROP P. HAMBLEY, Assistant to the Board andDirector for Congressional Liaison
ROSANNA PIANALTO-CAMERON, Special Assistant to the BoardDAVID W. SKIDMORE, Special Assistant to the BoardLARICKE D. BLANCHARD, Special Assistant to the Board
for Congressional LiaisonROBERT M. PRIBBLE, Special Assistant to the Board
for Congressional Liaison
LEGAL DIVISION
SCOTT G. ALVAREZ, General CounselRICHARD M. ASHTON, Deputy General CounselKATHLEEN M. O'DAY, Deputy General CounselSTEPHANIE MARTIN, Associate General CounselANN E. MISBACK, Associate General CounselKATHERINE H. WHEATLEY, Associate General CounselKIERAN J. FALLON, Assistant General CounselSTEPHEN HORACE MEYER, Assistant General CounselPATRICIA A. ROBINSON, Assistant General CounselCARY K. WILLIAMS, Assistant General Counsel
OFFICE OF THE SECRETARYJENNIFER J. JOHNSON, Secretary
ROBERT DEV. FRIERSON, Deputy Secretary
MARGARET M. SHANKS, Associate Secretary
DIVISION OF BANKING SUPERVISIONAND REGULATION
RICHARD SPILLENKOTHEN, Director
STEPHEN M. HOFFMAN, JR., Deputy DirectorHERBERT A. BIERN, Senior Associate DirectorROGER T. COLE, Senior Associate DirectorMICHAEL G. MARTINSON, Senior AdviserDEBORAH P. BAILEY, Associate DirectorNORAH M. BARGER, Associate DirectorBETSY CROSS, Associate DirectorGERALD A. EDWARDS, JR., Associate DirectorJAMES V. HOUPT, Associate DirectorJACK P. JENNINGS, Associate DirectorPETER J. PURCELL, Associate DirectorMOLLY S. WASSOM, Associate DirectorDAVID M. WRIGHT, Associate DirectorBARBARA J. BOUCHARD, Deputy Associate DirectorANGELA DESMOND, Deputy Associate DirectorJAMES A. EMBERSIT, Deputy Associate DirectorCHARLES H. HOLM, Deputy Associate DirectorWILLIAM G. SPANIEL, Deputy Associate DirectorSTACY COLEMAN, Assistant Director
DIVISION OF BANKING SUPERVISIONAND REGULATION—CONTINUEDJON D. GREENLEE, Assistant DirectorWALT H. MILES, Assistant DirectorWILLIAM C. SCHNEIDER, JR., Assistant DirectorWILLIAM F. TREACY, Assistant DirectorSTEPHEN M. ROBERTS, Adviser
DIVISION OF INTERNATIONAL FINANCEKAREN H. JOHNSON, Director
DAVID H. HOWARD, Deputy DirectorTHOMAS A. CONNORS, Senior Associate DirectorRICHARD T. FREEMAN, Associate DirectorSTEVEN B. KAMIN, Associate DirectorWILLIAM L. HELKIE, Senior AdviserDALE W. HENDERSON, Senior AdviserJON W. FAUST, Assistant DirectorJOSEPH E. GAGNON, Assistant DirectorMICHAEL P. LEAHY, Assistant DirectorD. NATHAN SHEETS, Assistant DirectorRALPH W. TRYON, Assistant Director
DIVISION OF RESEARCH AND STATISTICSDAVID J. STOCKTON, Director
EDWARD C. ETTIN, Deputy DirectorDAVID W. WILCOX, Deputy DirectorMYRON L. KWAST, Associate DirectorSTEPHEN D. OLINER, Associate DirectorPATRICK M. PARKINSON, Associate DirectorLAWRENCE SLIFMAN, Associate DirectorCHARLES S. STRUCKMEYER, Associate DirectorDAVID L. REIFSCHNEIDER, Deputy Associate DirectorWILLIAM L. WASCHER III, Deputy Associate DirectorALICE PATRICIA WHITE, Deputy Associate DirectorJOYCE K. ZICKLER, Deputy Associate DirectorDOUGLAS ELMENDORF, Assistant DirectorMICHAEL GIBSON, Assistant DirectorDIANA HANCOCK, Assistant DirectorJ. NELLIE LIANG, Assistant DirectorS. WAYNE PASSMORE, Assistant DirectorJANICE SHACK-MARQUEZ, Assistant DirectorDANIEL SICHEL, Assistant DirectorMARY M. WEST, Assistant DirectorGLENN B. CANNER, Senior AdviserDAVID S. JONES, Senior Adviser
THOMAS D. SIMPSON, Senior Adviser
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Spring 2005
305
MARK W. OLSONBEN S. BERNANKE
DONALD L. KOHN
DIVISION OF MONETARY AFFAIRS
VINCENT R. REINHART, Director
BRIAN F. MADIGAN, Deputy DirectorJAMES A. CLOUSE, Deputy Associate DirectorWILLIAM C. WHITESELL, Deputy Associate DirectorCHERYL L. EDWARDS, Assistant DirectorWILLIAM B. ENGLISH, Assistant DirectorATHANASIOS ORPHANIDES, Adviser
DEBORAH J. DANKER, Special Assistant to the Board
DIVISION OF CONSUMERAND COMMUNITY AFFAIRS
SANDRA F. BRAUNSTEIN, Director
GLENN E. LONEY, Deputy DirectorADRIENNE D. HURT, Associate Counsel and AdviserIRENE SHAWN MCNULTY, Senior Adviser
MARY T. JOHNSEN, Associate DirectorTONDA E. PRICE, Associate DirectorSUZANNE G. KILLIAN, Assistant DirectorJAMES A. MICHAELS, Assistant Director
OFFICE OFSTAFF DIRECTOR FOR MANAGEMENT
STEPHEN R. MALPHRUS, Staff DirectorSHEILA CLARK, EEO Programs DirectorLYNN S. FOX, Senior Adviser
MANAGEMENT DIVISION
H. FAY PETERS, DirectorDARRELL R. PAULEY, Deputy DirectorSTEPHEN J. CLARK, Senior Associate DirectorCHRISTINE M. FIELDS, Associate DirectorMARSHA W. REIDHILL, Associate DirectorBILLY J. SAULS, Associate DirectorDONALD A. SPICER, Associate DirectorCHARLES O'MALLEY, Assistant DirectorJAMES RIESZ, Assistant Director
DIVISION OF INFORMATION TECHNOLOGY
MARIANNE M. EMERSON, Director
MAUREEN T. HANNAN, Deputy DirectorTILLENA G. CLARK, Assistant DirectorGEARY L. CUNNINGHAM, Assistant DirectorWAYNE A. EDMONDSON, Assistant DirectorPo KYUNG KIM, Assistant DirectorSUSAN F. MARYCZ, Assistant DirectorSHARON L. MOWRY, Assistant DirectorRAYMOND ROMERO, Assistant Director
DIVISION OF RESERVE BANK OPERATIONSAND PAYMENT SYSTEMS
LOUISE L. ROSEMAN, Director
JEFFREY C. MARQUARDT, Deputy DirectorPAUL W. BETTGE, SR., Associate DirectorKENNETH D. BUCKLEY, Associate DirectorJACK K. WALTON II, Associate DirectorDOROTHY LACHAPELLE, Deputy Associate DirectorGREGORY L. EVANS, Assistant DirectorJOSEPH H. HAYES, JR., Assistant DirectorLISA HOSKINS, Assistant DirectorMICHAEL J. LAMBERT, Assistant DirectorJEFF J. STEHM, Assistant Director
OFFICE OF THE INSPECTOR GENERAL
BARRY R. SNYDER, Inspector GeneralDONALD L. ROBINSON, Deputy Inspector GeneralELIZABETH A. COLEMAN, Assistant Inspector GeneralLAURANCE A. FROEHLICH, Assistant Inspector GeneralWILLIAM L. MITCHELL, Assistant Inspector General
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
Spring 2005
458 Federal Reserve Bulletin • Summer 2005
Federal Reserve Board of Governorsand Official StaffAugust 16,2005
ALAN GREENSPAN, ChairmanROGER W. FERGUSON, JR., Vice Chairman
SUSAN SCHMIDT BIESMARK W. OLSON
OFFICE OF BOARD MEMBERSMICHELLE A. SMITH, Director
WINTHROP P. HAMBLF.Y, Assistant to the Board andDirector for Congressional Liaison
ROSANNA PIANALTO-CAMERON, Special Assistant to the BoardDAVID W. SKIDMORE, Special Assistant to the BoardLARICKE D. BLANCH ARD, Special Assistant to the Board
for Congressional LiaisonROBERT M. PRIBBI.E, Special Assistant to the Board
for Congressional Liaison
LEGAL DIVISIONSCOTT G. ALVAREZ, General CounselRICHARD M. ASHTON, Deputy General CounselKATHLEEN M. O'DAY, Deputy General CounselSTEPHANIE MARTIN, Associate General CounselANN E. MISBACK, Associate General Counsel{CATHERINE H. WHEATLEY, Associate General CounselKIERAN J. FALLON, Assistant General Counsel.STEPHEN HORACE MEYER, Assistant General CounselPATRICIA A. ROBINSON, Assistant General CounselCARY K. WILLIAMS, Assistant General Counsel
OFFICE OF THE SECRETARYJENNIFER J. JOHNSON, Secretary'
ROBERT DEV. FRIERSON, Deputy Secretary
MARGARET M. SHANKS, Associate Secretary
DIVISION OF BANKING SUPERVISIONAND REGULATIONRICHARD SPILLENKOTHEN, Director
STEPHEN M. HOFFMAN, JR., Deputy DirectorROGER T. COLE, Senior Associate DirectorMICHAEL G. MARTINSON, Senior AdviserDEBORAH P. BAILEY, Associate DirectorNORAH M. BARGER, Associate DirectorBETSY CROSS, Associate DirectorGERALD A. EDWARDS, JR., Associate DirectorJACK P. JENNINGS, Associate DirectorROBIN L. LUMSDAINE, Associate DirectorPETER J. PURCELL, Associate DirectorMOLLY S. WASSOM, Associate DirectorDAVID M. WRIGHT, Associate DirectorBARBARA J. BOUCHARD, Deputy Associate DirectorANGELA DESMOND, Deputy Associate DirectorJAMES A. EMBERSIT, Deputy Associate DirectorCHARLES H. HOLM, Deputy Associate DirectorWILLIAM C. SCHNEIDER, JR., Deputy Associate DirectorWILLIAM G. SPANIEL, Deputy Associate Director
DIVISION OF BANKING SUPERVISIONAND REGULATION—CONTINUEDSTACY COLEMAN, Assistant DirectorJON D. GREENLF.E, Assistant DirectorWALT H. MILES, Assistant DirectorWILLIAM F. TREACY, Assistant DirectorSTEPHEN M. ROBERTS, Adviser
DIVISION OF INTERNATIONAL FINANCEKAREN H. JOHNSON, Director
DAVID H. HOWARD, Deputy DirectorTHOMAS A. CONNORS, Senior Associate DirectorRICHARD T. FREEMAN, Associate DirectorSTEVEN B. KAMIN, Associate DirectorWILLIAM L. HELKIE, Senior AdviserDALE W. HENDERSON, Senior AdviserJON W. FAUST, Assistant DirectorJOSEPH E. GAGNON, Assistant DirectorMICHAEL P. LEAHY, Assistant DirectorD. NATHAN SHEETS, Assistant DirectorRALPH W. TRYON, Assistant Director
DIVISION OF RESEARCH AND STATISTICSDAVID J. STOCKTON, Director
PATRICK M. PARKINSON, Deputy DirectorDAVID W. WILCOX, Deputy DirectorMYRON L. KWAST, Senior Associate DirectorSTEPHEN D. OLINER, Associate DirectorLAWRENCE SLIFMAN, Associate DirectorCHARLES S. STRUCKMEYER, Associate DirectorALICE PATRICIA WHITE, Associate Director
JOYCE K. ZICKLER, Associate DirectorS. WAYNE PASSMORE, Deputy Associate DirectorDAVID L. REIFSCHNEIDER, Deputy Associate DirectorJANICE SHACK-MARQUEZ, Deputy Associate DirectorWILLIAM L. WASCHER III, Deputy Associate DirectorMICHAEL S. CRINGOLI, Assistant DirectorDOUGLAS ELMENDORF, Assistant DirectorMICHAEL GIBSON, Assistant DirectorDIANA HANCOCK, Assistant DirectorJ. NELLIE LIANG, Assistant DirectorROBIN A. PRAGER, Assistant DirectorDANIEL SICHEL, Assistant DirectorMARY M. WEST, Assistant DirectorGLENN B. CANNER, Senior AdviserDAVID S. JONES, Senior AdviserTHOMAS D. SIMPSON, Senior Adviser
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
Summer 2005
DONALD L. KOHN
459
DIVISION OF MONETARY AFFAIRS
VINCENT R. REINHART, Director
BRIAN F. MADIGAN, Deputy DirectorJAMES A. CLOUSE, Deputy Associate DirectorWILLIAM C. WHITESELL, Deputy Associate DirectorCHERYL L. EDWARDS, Assistant DirectorWILLIAM B. ENGLISH,'AssistantDirector
ATHANASIOS ORPHANIDES, Adviser
DEBORAH J. DANKER, Special Assistant to the Board
DIVISION OF CONSUMERAND COMMUNITY AFFAIRS
SANDRA F. BRAUNSTEIN, Director
GLENN E. LONEY, Deputy DirectorADRIENNE D. HURT, Associate Counsel and AdviserIRENE SHAWN MCNULTY, Senior Adviser
MARY T. JOHNSEN, Associate DirectorTONDA E. PRICE, Associate DirectorSUZANNE G. KILLIAN, Assistant DirectorJAMES A. MICHAELS, Assistant Director
OFFICE OF STAFF DIRECTORFOR MANAGEMENT
STEPHEN R. MALPHRUS, Staff DirectorSHEILA CLARK, EEO Programs DirectorLYNN S. FOX, Senior Adviser
MANAGEMENT DIVISION
H. FAY PETERS, DirectorDARRELL R. PAULEY, Deputy DirectorSTEPHEN J. CLARK, Senior Associate DirectorCHRISTINE M. FIELDS, Associate DirectorMARSHA W. REIDHILL, Associate DirectorBILLY J. SAULS, Associate DirectorDONALD A. SPICER, Associate DirectorCHARLES O'MALLEY, Assistant DirectorJAMES RIESZ, Assistant Director
DIVISION OF INFORMATION TECHNOLOGY
MARIANNE M. EMERSON, Director
MAUREEN T. HANNAN, Deputy DirectorTILLENA G. CLARK, Assistant DirectorGEARY L. CUNNINGHAM, Assistant DirectorWAYNE A. EDMONDSON, Assistant DirectorPo KYUNG KIM, Assistant DirectorSUSAN F. MARYCZ, Assistant DirectorSHARON L. MOWRY, Assistant DirectorRAYMOND ROMERO, Assistant Director
DIVISION OF RESERVE BANK OPERATIONSAND PAYMENT SYSTEMS
LOUISE L. ROSEMAN, Director
JEFFREY C. MARQUARDT, Deputy DirectorPAUL W. BETTGE, SR., Associate DirectorKENNETH D. BUCKLEY, Associate DirectorJACK K. WALTON II, Associate DirectorDOROTHY LACHAPELLE, Deputy Associate DirectorGREGORY L. EVANS, Assistant DirectorJOSEPH H. HAYES, JR., Assistant DirectorLISA HOSKINS, Assistant DirectorMICHAEL J. LAMBERT, Assistant DirectorJEFF J. STEHM, Assistant Director
OFFICE OF THE INSPECTOR GENERAL
BARRY R. SNYDER, Inspector GeneralDONALD L. ROBINSON, Deputy Inspector GeneralELIZABETH A. COLEMAN, Assistant Inspector GeneralLAURANCE A. FROEHLICH, Assistant Inspector GeneralWILLIAM L. MITCHELL, Assistant Inspector General
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
Summer 2005
532 Federal Reserve Bulletin • Autumn 2005
Federal Reserve Board of Governorsand Official StaffNovember 1,2005
ALAN GREENSPAN, ChairmanROGER W. FERGUSON, JR., Vice Chairman
SUSAN SCHMIDT BIESMARK W. OLSON
OFFICE OF BOARD MEMBERSMICHELLE A. SMITH, Director
WINTHKOP P. HAMBLEY, Assistant to the Board andDirector for Congressional Liaison
ROSANNA PIANAI.TO-CAMERON, Special Assistant to the BoardDAVID W. SKIDMOKE, Special Assistant to the HoardLARICKE D. BLANCHARD, Special Assistant to the Board
for Congressional LiaisonBRIAN J. GROSS, Special Assistant to the Board
for Congressional LiaisonROBERT M. PRIBBLE, Special Assistant to the Board
for Congressional Liaison
LEGAL DIVISIONSCOTT G. ALVAREZ, General CounselRICHARD M. ASHTON, Deputy General CounselKATHLEEN M. O'DAY, Deputy General CounselSTEPHANIE MARTIN, Associate General CounselANN E. MISBACK, Associate General CounselKATHERINK H. WHEATI.EY, Associate General CounselKIERAN J. FAI.LON, Assistant General CounselSTEPHEN HORACE MEYER, Assistant General CounselPATRICIA A. ROBINSON, Assistant General CounselCARY K. WILLIAMS, Assistant General Counsel
OFFICE OF THE SECRETARY
JENNIFER J. JOHNSON, Secretary
ROBERT DEV. FRIERSON, Deputy SecretaryMARGARET M. SHANKS, Associate Secretary
DIVISION OF BANKING SUPERVISIONAND REGULATIONRICHARD SPILLENKOTHEN, Director
STEPHEN M. HOFFMAN, JR., Deputy DirectorROGER T. COLE, Senior Associate DirectorMICHAEL G. MARTINSON, Senior AdviserDEBORAH P. BAILEY, Associate DirectorNORAH M. BARGER, Associate DirectorBETSY CROSS, Associate DirectorGERALD A. EDWARDS, JR., Associate DirectorJACK P. JENNINGS, Associate DirectorROBIN L. LUMSDAINE, Associate DirectorPETER J. PURCELL, Associate DirectorMOLLY S. WASSOM, Associate DirectorDAVID M. WRIGHT, Associate DirectorBARBARA J. BOUCHARD, Deputy Associate DirectorANGELA DESMOND, Deputy Associate DirectorJAMES A. EMBERSIT, Deputy Associate DirectorCHARLES H. HOLM, Deputy Associate DirectorWILLIAM C. SCHNEIDER, JR., Deputy Associate Director
DIVISION OF BANKING SUPERVISIONAND REGULATION—CONTINUEDWILLIAM G. SPANIEL, Deputy Associate DirectorSTACY COLEMAN, Assistant DirectorJON D. GREP.NI.EE, Assistant DirectorWALT H. MILES, Assistant DirectorWILLIAM F. TRF.ACY, Assistant DirectorSTEPHEN M. ROBERTS, Adviser
DIVISION OF INTERNATIONAL FINANCEKAREN H. JOHNSON, Director
THOMAS A. CONNORS, Senior Associate DirectorRICHARD T. FREE.MAN, Associate DirectorSTEVEN B. KAMIN, Associate DirectorWILLIAM L. HELKIE, Senior AdviserDALE W. HENDERSON, Senior AdviserJON W. FAUST, Assistant DirectorJOSEPH E. GAGNON, Assistant DirectorMICHAEL P. LEAHY, Assistant DirectorD. NATHAN SHEETS, Assistant DirectorRALPH W. TRYON, Assistant Director
DIVISION OF RESEARCH AND STATISTICS
DAVID J. STOCKTON, Director
PATRICK M. PARKINSON, Deputy DirectorDAVID W. WILCOX, Deputy DirectorMYRON L. KWAST, Senior Associate DirectorSTEPHEN D. OI.INER, Associate DirectorLAWRENCE SLIFMAN, Associate DirectorCHARLES S. STRUCKMEYER, Associate DirectorALICE PATRICIA WHITE, Associate Director
JOYCE K. ZICKLER, Associate DirectorS. WAYNE PASSMORE, Deputy Associate DirectorDAVID L. REIFSCHNEIDER, Deputy Associate DirectorJANICE SHACK-MARQUEZ, Deputy Associate DirectorWILLIAM L. WASCHER III, Deputy Associate DirectorMICHAEL S. CRINGOLI, Assistant DirectorDOUGLAS ELMENDORF, Assistant DirectorMICHAEL GIBSON, Assistant DirectorDIANA HANCOCK, Assistant DirectorJ. NELLIE LIANG, Assistant DirectorROBIN A. PRAGHR, Assistant DirectorDANIEL SICHEL, Assistant DirectorMARY M. WEST, Assistant DirectorGLENN B. CANNER, Senior AdviserDAVID S. JONES, Senior AdviserTHOMAS D. SIMPSON, Senior Adviser
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
Fall 2005
DONALD L. KOHN
533
DIVISION OF MONETARY AFFAIRS
VINCENT R. RHINHART, Director
BRIAN F. MADIGAN, Deputy DirectorJAMES A. CLOUSE, Deputy Associate DirectorWILLIAM C. WHITESELL, Deputy Associate DirectorCHERYL L. EDWARDS, Assistant DirectorWILLIAM B. ENGLISH, Assistant DirectorATHANASIOS ORPHANIDF.S, Adviser
DEBORAH J. DANKER, Special Assistant to the Board
DIVISION OF CONSUMERAND COMMUNITY AFFAIRS
SANDRA F. BRAUNSTEIN, Director
GLENN E. LONEY, Deputy DirectorADRIENNE D. HURT, Associate Counsel and AdviserIRENE SHAWN MCNULTY, Senior Adviser
LEONARD CHANIN, Associate DirectorMARY T. JOHNSEN, Associate DirectorTONDA E. PRICE, Associate DirectorSUZANNE G. KILLIAN, Assistant DirectorSHEILA F. MAITH, Assistant DirectorJAMES A. MICHAELS, Assistant Director
OFFICE OF STAFF DIRECTORFOR MANAGEMENT
STEPHEN R. MALPHRUS, Staff DirectorSHEILA CLARK, EEO Programs DirectorLYNN S. FOX, Senior Adviser
MANAGEMENT DIVISION
H. FAY PETERS, DirectorDARRELL R. PAULEY, Deputy DirectorSTEPHEN J. CLARK, Senior Associate DirectorCHRISTINE M. FIELDS, Associate DirectorMARSHA W. REIDHILL, Associate DirectorBILLY J. SAULS, Associate DirectorDONALD A. SPICER, Associate DirectorCHARLES O'MALLEY, Assistant DirectorJAMES RIESZ, Assistant Director
DIVISION OF INFORMATION TECHNOLOGY
MARIANNE M. EMERSON, Director
MAUREEN T. HANNAN, Deputy DirectorTILLENA G. CLARK, Assistant DirectorGEARY L. CUNNINGHAM, Assistant DirectorWAYNE A. EDMONDSON, Assistant DirectorPo KYUNG KIM, Assistant DirectorSUSAN F. MARYCZ, Assistant DirectorSHARON L. MOWRY, Assistant DirectorRAYMOND ROMERO, Assistant DirectorJILL ROSEN, Assistant Director
DIVISION OF RESERVE BANK OPERATIONSAND PAYMENT SYSTEMS
LOUISE L. ROSEMAN, Director
JEFFREY C. MARQUARDT, Deputy DirectorPAUL W. BETTGE, Senior Associate DirectorKENNETH D. BUCKLEY, Associate DirectorDOROTHY LACHAPEI.LE, Associate DirectorJACK K. WALTON II, Associate DirectorGREGORY L. EVANS, Assistant DirectorJOSEPH H. HAYES, JR., Assistant DirectorLISA HOSKINS, Assistant DirectorMICHAEL J. LAMBERT, Assistant DirectorMICHAEL J. STAN, Assistant DirectorJEFF J. STEIIM, Assistant Director
OFFICE OF THE INSPECTOR GENERAL
BARRY R. SNYDER, Inspector GeneralDONALD L. ROHINSON, Deputy Inspector GeneralELIZABETH A. COLEMAN, Assistant Inspector GeneralLAURENCE A. FROEHLICH, Assistant Inspector GeneralWILLIAM L. MITCHELL, Assistant Inspector General
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
Fall 2005