CORS » Topics » General

This excerpt taken from the CORS 10-K filed Feb 27, 2007.

General

Corus and its subsidiaries are subject to regulation and supervision by various governmental regulatory authorities including the Board of Governors of the Federal Reserve System (“Federal Reserve Board”), the Illinois Department of Financial and Professional Regulation (the “IDFPR”), the Office of the Comptroller of the Currency (“OCC”) and the Federal Deposit Insurance Corporation (the “FDIC”).  Depository institutions, such as national banks, and bank holding companies are also subject to extensive federal and state laws.  The effect of such statutes, regulations, and policies can be significant and cannot be predicted with a high degree of certainty.

The above referenced laws and regulations govern the scope of business, investments, reserves against deposits, capital levels relative to operations, nature and amount of collateral for loans, and the establishment of branches as well as mergers, consolidations and dividends.  This supervision and regulation is intended primarily to protect depositors and the FDIC’s insurance fund.

The following references to material statutes, regulations and guidance affecting Corus and its subsidiaries are brief summaries thereof and are qualified in their entirety by reference to such statutes, regulations and guidance. Any change in applicable law, regulations or guidance may have a material effect on the business or operations of Corus and its subsidiaries. The operations of Corus and its subsidiaries may also be affected by changes in the policies of various regulatory authorities.  Corus cannot accurately predict the nature or the extent of the effects that any such changes would have on its business and earnings.

This excerpt taken from the CORS 10-K filed Mar 14, 2006.

General

Corus and its subsidiaries are subject to regulation and supervision by various governmental regulatory authorities including the Board of Governors of the Federal Reserve System (“Federal Reserve Board”), the Illinois Department of Financial and Professional Regulation (the “IDFPR”), the Office of the Comptroller of the Currency (“OCC”) and the Federal Deposit Insurance Corporation (the “FDIC”).  Depository institutions, such as national banks, and bank holding companies are also extensively regulated under federal and state law.  The effect of such statutes, regulations, and policies can be significant and cannot be predicted with a high degree of certainty.

Federal and state laws and regulations generally applicable to bank holding companies and national banks regulate, among other things, the scope of business, investments, reserves against deposits, capital levels relative to operations, nature and amount of collateral for loans, and the establishment of branches as well as mergers, consolidations and dividends.  This supervision and regulation is intended primarily to protect depositors and the FDIC’s insurance fund.

The following references to material statutes, regulations and guidance affecting Corus and its subsidiaries are brief summaries thereof and are qualified in their entirety by reference to such statutes, regulations and guidance. Any change in applicable law, regulations or guidance may have a material effect on the business or operations of Corus and its subsidiaries. The operations of Corus and its subsidiaries may also be affected by changes in the policies of various regulatory authorities.  Corus cannot accurately predict the nature or the extent of the effects that any such changes would have on its business and earnings.

EXCERPTS ON THIS PAGE:

10-K
Feb 27, 2007
10-K
Mar 14, 2006
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