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Informational Memorandum
Subject:Official Staff Commentary to Regulation Z Truth in Lending Act
Date of Memorandum:09/15/2003
Expiration Date:
Signed By:Smith, Roland
FCA Contact Person:Holland, Tom
Contact Phone:703-883-4484
List of Attachments:Rules and Regulations 16185


September 15, 2003

To: The Chief Executive Officer
All Farm Credit System Institutions

From: Roland E. Smith, Director
Office of Examination

Subject: Official Staff Commentary to Regulation Z, Truth in Lending

The Board of Governors of the Federal Reserve System published a final rule revising the official staff commentary to Regulation Z, which implements the Truth in Lending Act (12 CFR Part 226). The revisions discuss the treatment of private mortgage insurance payments in disclosing the payment schedule. Additionally, the revisions discuss the selection of Treasury security yields for determining whether a mortgage loan is covered by provisions in Regulation Z that implement the Home Ownership and Equity Protection Act. A copy of the final rule is attached.

If you have any questions about this memorandum, please call Thomas J. Holland, Director, Special Examination and Supervision Division, Office of Examination, at (703) 883-4483, or write to him on the Internet at e-mail address