BOARD OF GOVERNORS
OF THE
FEDERAL RESERVE SYSTEM
WASHINGTON, D.C.  20551

DIVISION OF CONSUMER
AND COMMUNITY AFFAIRS

CA 06-4

January 27, 2006

TO THE OFFICERS AND MANAGERS IN CHARGE OF CONSUMER AFFAIRS SECTIONS:

SUBJECT: Termination of the Consumer Affairs Report of Examination System (CARES)

Effective immediately, Reserve Banks should discontinue entering time data into the Consumer Affairs Report of Examination System (CARES). This change, coupled with the transfer of supervisory event data to NED in June of 2005, officially retires CARES as the system of record for consumer compliance supervisory event data. For record keeping purposes, the CARES database will be archived at the Board and made available for querying purposes on an as needed basis. This letter supersedes all letters that reference CARES data entry.

Discontinuing the collection of time data in CARES is consistent with the Federal Reserve System’s overall effort to standardize operating systems and to eliminate duplicative data entry. Going forward, Reserve Banks should collect and store all time related data for consumer compliance supervisory events in their time reporting systems (TTS or Carpe Diem).

Please direct questions to the Oversight Analyst assigned to your District.

Sincerely,
(signed)

Sandra F. Braunstein
Director

Supersedes: CA 99-5, CA 97-14, CA 96-5, CA 92-10, and CA 89-3.