Full text of Roundup : March 1986, Volume 5, Number 3
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DALLAS Federal Reserve Bank of Dallas March 1986 Volume 5, Number 3 Computer security conference scheduled Computer technology has brought about vast improvements for the financial industry. Transactions move from coast to coast at the speed of light. But these improvements also have brought a new level of data security concerns. The value of the in formation and the number of transac tions that occur electronically at near ly every financial institution have in creased dramatically. Within the Eleventh District alone, over $31 billion is transferred every day. On April 29 and 30 the Dallas Fed is hosting a conference that deals specifically with computer security issues. Designed exclusively for Eleventh District financial institu tions, the conference will cover com puter security concerns and ap propriate steps to take to secure elec tronic information. The conference will feature recognized speakers from the com puter industry as well as specialists on white collar crime and manage ment solutions to the problem. In ad dition, there will be a discussion on the Dallas Fed’s plans for improving the security of electronic information and how these plans will affect finan cial institutions in this District. The conference will be held at the Dallas Hyatt Regency and begins at 1:00 p.m. on April 29 and ends at 1:45 p.m. on April 30. A $50 registration fee covers all conference materials, coffee breaks, an evening reception, and breakfast and lunch on April 30. For a conference brochure, please contact Dick Ingram at (214) 651-6212. Just the facts What: Computer Security Conference for Financial Institutions INSIDE_____________ When: April 29-30 ■ FREE SERVICES Where: Hyatt Regency Hotel in Dallas ■ CONSUMERS WEEK Who: Anyone concerned with elec tronic information security at Eleventh District Financial Institutions Cost: $50 ■ KOONCE APPOINTMENT ■ MINORITIES HONORED ■ ADVISORY MEMBERS Fed provides free public services To promote a better understanding of central bank operations, monetary and economic problems and the Federal Reserve System, the Federal Reserve Bank of Dallas and its branches offer various informational services to the public as well as financial institutions in the Eleventh District. The Public Affairs Department cur rently houses bulletins, regulations and circulars pertaining to banking functions, operations and announce ments. Any financial institution which will soon be opening or has recently opened should contact the Public Af fairs Department at (214) 651-6289 for a binder set of regulations and bulle tins if it has not done so already. In addition to these publications, the department houses pamphlets on such topics as “Coins and Currency,” “ Fundamental Facts About U.S. Money,” “Consumer Handbook on Ad justable Rate Mortgages,” “Selected Interest Rates,” “ Buying Government Securities at Federal Reserve Banks,” and many more. The Bank also loans films out to high schools, colleges and financial institutions. Films in the current library include “ Money: Summing It Up,” “The Fed...Our Central Bank,” “ Economic Stability: The Quest and the Question,” “24 Hours in the Life of a Check,” and various others. For a list of all pamphlets and films available, call the Public Affairs Department (214) 651-6289 or toll-free 1-800-442-7140, ext. 6289 (intrastate), or 1-800-527-9200, ext. 6289 (out of Texas). A public information directory is available for the entire system as well. For financial institutions only, the Bank also has a counterfeit currency exhibit which is available for presen tations or bank openings/anniversaries. It must be kept in a vault over night and is ordinarily dispatched and returned via institutions’ designated armored courier. To inquire about the counterfeit currency exhibit, call (214) 651-6268. Tours of the Federal Reserve Bank of Dallas and its branches are also available to high school seniors, col lege students, and financial institu tion personnel. At the Dallas Office, the tour group should consist of at least six per sons, but no more than 30. Tours feature a film describing the func tions of the Bank as well as a brief walk-through of the lobby, cash, securities and checks areas of the Bank. Tours can be arranged at the Dallas site on Wednesdays or Fridays. For more information on tours at the Dallas Fed, call Kim Ernst, public affairs representative, at (214) 651-6267. For tour information at the branches, call the following numbers: El Paso, (915) 544-4730; Houston, (713) 659-4433; and San Antonio, (512) 224-2141. The Public Affairs Department also provides announcement of interest rates for the three- and six-month and one-year Treasury bills which are auc tioned regularly. The recorded mes sage is updated on late Monday after noons. The recording also quotes the discount rate and Treasury indices on the one- three- and five-year constant maturity rates which are a popular in dex in calculating some adjustable rate mortgages. The telephone number for the recorded message is (214) 651-6177 or metro 263-1093. The toll-free Texas watts number is 1-800-442-7390 and the toll-free out-ofstate watts number is 1-800-527-9208. Individuals and institutions con templating the purchase of an original issue Treasury note or bond may learn of future offerings as they are scheduled by the Treasury. A separate recorded message delivers this information and can be accessed at (214) 651-6384 or by using the last four digits of that number as an ex tension after reaching the toll-free numbers listed above. National Consumers Week announced “Consumers Rate Quality" is the theme of National Consumers Week, April 20-26, as proclaimed by Presi dent Ronald Reagan. This year, Con sumers Week will recognize and pro mote the vital role of consumers in our free enterprise system as well as consumer activities and programs. The goal of the week is to help con sumers learn about how the market place functions and how their finan cial decisions affect our economy and their economic well-being. Koonce appointed to subcommittee Joel L. Koonce, Jr., vice president in charge of the El Paso Branch of the Federal Reserve Bank of Dallas, was recently appointed to the Sub committee on Securities and Fiscal Services. The subcommittee, which consists of six Federal Reserve officers and one staff member from the Board of Governors, looks into areas of current security and fiscal related services which are provided throughout the System to financial institutions and the Treasury. “We also look at the possibility of future services which would provide financial institutions, as well as the (U.S.) Treasury, with products that are cost effective and beneficial to those using the service,” says Koonce. Subcommittee members meet ap proximately four times per year, with meeting places rotated between Federal Reserve Banks and the Board of Governors. Recommendations from the sub committee go to the Committee on Securities and Fiscal Services which is composed of Reserve Bank first vice presidents. Koonce has been with the Federal Recently while in Dallas for several meetings, Koonce (right) looks over a docu ment with Walter Basham, manager of the Securities area. Reserve of Dallas for 26 years. He started his career at the San Antonio Branch in July 1959, where he worked in all departments of the branch. In July 1972, he was transferred to the El Paso Branch as an operations of ficer and six years later was ap pointed vice president in-charge. Minorities to be honored Honoring contributions of the na tion’s minority business enterprises, President Ronald Reagan has pro claimed October 5-11 as Minority Enterprise Development (MED) Week this year. Recently, a pre-MED week planning meeting was held at the Dallas Fed when a delegation of MED steering committee members and members of the Minority Business Development Agency (MBDA) were welcomed by President Robert H. Boykin, Andrew W. Hogwood, Jr., assistant vice presi dent, and Michon W. Fulgham, com munity affairs representative. The MBDA is a program under the U.S. Department of Commerce. It was established to increase awareness that minority enterprises form a significant proportion of all the na tion’s businesses. Also, it recognizes the talents, insights and hard work that minority Americans are adding to our nation’s technological prowess by offering new solutions for important problems and creating jobs in many industries. Since the Fed is interested in pro moting increased awareness within the District in regard to minority businesses and entrepreneurs, it will be assisting the regional MED com mittee with some local events recognizing minority businesses in September and October. A detailed list of those events will appear in a later issue of Roundup. I Consumer Advisory Council members selected The Board of Governors of the Federal Reserve System recently ap pointed 12 new members to its Con sumer Advisory Council to replace members whose terms had expired or who resigned. In addition, the Board also designated a new chairman and vice chairman of the council. The council advises the Board in the field of consumer financial pro tection laws and other consumerrelated matters. It meets several times a year in sessions open to the public. Its 30 members come from all parts of the country and include a broad representation of consumer and financial industry interests. Margaret M. Murphy was named chairman. Murphy is associate pro fessor and director of the Columbia Center at John Hopkins University, Columbia, Maryland. Her term runs through December 1986. Lawrence S. Okinaga was named vice chairman. Okinaga is a partner > in m U3 J3 )O -r- C E. to 0 =3 C 0) 0)T 3 7C Z3 (/>S > o £ ob B CD B O "O O 3 £D D S l W O’ CL U) «I CD 3 3 3 O " ® O O 3 O CD O O _ B. JD CO . O’ 5" o a; CD g J ® zr o o "n o W P CD 3 _ T S 0)' o y z r co c 0) c O 3D 0 "0 co -1 C c O ’ SD —. Z) cd O CL with the law firm of Carlsmith, Carlsmith, Wichman and Case in Honolulu. His term runs through December 1986, also. The 12 new members, named for three-year terms which began Jan. 1, 1986 are: ★ Edwin B. Brooks, president of Security Federal Savings and Loan Association, Richmond, Virginia, ★ Michael S. Cassidy, senior vice president at Chase Manhattan Bank, New York, New York, ★ Neil J. Fogarty, president of the Consumers League of New Jersey, Jersey City, New Jersey, ★ Kenneth A. Hall, president of Great Southern National Bank of Jackson, Jackson, Mississippi, ★ Steven W. Hamm, administrator for the South Carolina Department of Consumer Affairs, Columbia, South Carolina, ★ Robert J. Hobbs, consulting attorney for legal services for National Consumer Law Center, Boston, Massachusetts, ★ Robert W. Johnson, director of the Credit Research Center at Purdue University, West Lafayette, Indiana, ★ John M. Kolesar, president of Ameritrust Development Bank, Cleveland, Ohio, ★ Alan B. Lerner, senior executive vice president for Associates Cor poration of North America and member of the Texas Finance Com mission, Dallas, Texas, ★ Sandra R. Parker, community organizer and principal of the John F. Kennedy Building of ArmstrongKennedy High School, Richmond, Virginia, ★ Jane Shull, director of the In stitute for the Study of Civic Values, Philadelphia, Pennsylvania, ★ Edward J. Williams, senior vice president of Harris Trust and Savings Bank, Chicago, Illinois.