Federal Reserve Release, H2, Actions of the Board, its Staff, and the Federal Reserve Banks; Applications and Reports Received

Release dates | Full version (300 KB PDF)
Actions by the Board | Actions under delegated authority
Applications and reports:
Boston | New York | Philadelphia | Cleveland | Richmond | Atlanta
Chicago | St. Louis | Minneapolis | Kansas City | Dallas | San Francisco

District: 2
Federal Reserve Bank of: New York

Filings received during the week ending February 24, 2007

Filer Filing Type Filing Proposal End of Comment Period
AMBOY BANCORPORATION EMPLOYEE STOCK OWNERSHIP PLAN * 3A1 Amboy Bancorporation Employee Stock Ownership Plan requests approval to become a bank holding company, pursuant to Section 3(a)(1) of the BHC Act of 1956 and Section 225.15 of Regulation Y, by acquiring common stock of Amboy Bancorporation, both of Old Bridge, New Jersey.
Newspaper: Not available
Federal Register: 03/23/2007
CHEMUNG CANAL TRUST COMPANY * 18C Chemung Canal Trust Company, Elmira, New York, pursuant to Section 18(c) of the Federal Deposit Insurance Act for prior approval of the Board of Governors of the Federal Reserve System (the ?Board?), to merge with Partners Interim Bank, a wholly-owned subsidiary of Partners Trust Bank (?Partners Trust?), both of Utica, New York, and thereby acquire certain trust accounts from Partners Trust.
Newspaper: Not available
Federal Register: Not applicable
CHINA MERCHANTS BANK CO. LTD. FBSEA China Merchants Bank Co., Ltd.,Shenzhen, Peoples Republic of China is applying to establish a branch, under Section 211.24(a)(1) of Regulation K, in New York.
Newspaper: Not available
Federal Register: Not applicable
CITIBANK, N.A. Investment 30 days prior notice by Citibank, N.A., Las Vegas, Nevada, on behalf of its Edge corporation subsidiary, Citibank Overseas Investment Corporation, New Castle, Delaware, under Section 25A of the Federal Reserve Act and Section 211.9(f) of Regulation K, to acquire Egg Banking plc ("Egg"), London, United Kingdom, that is not eligible for the general consent provision of Regulation K 211.9(b)(2) and an application for the Board's specific consent to waive the amount of this acquisition of and additional investment in Egg from the aggregate investment limit of 211.9(b)(6)(i) of Regulation K.
Newspaper: Not applicable
Federal Register: Not applicable


Availability of CRA Public Evaluations

The Community Reinvestment Act is intended to encourage depository institutions to help meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods. It was enacted by the Congress in 1977 (12 U.S.C. 2901) and is implemented by Regulation BB (12 CFR 228). The regulation was revised in May 1995.

The CRA requires that each depository institution's record in helping meet the credit needs of its entire community be evaluated periodically. That record is taken into account in considering an institution's application for deposit facilities.

A copy of an institution's CRA evaluation may be obtained directly from the institution or Reserve Bank.

Federal bank regulators use the following performance levels to rate an institution's performance under CRA:

O = Outstanding
S = Satisfactory
NI = Needs to improve
SN = Substantial noncompliance

The following state member banks have been examined and their CRA public evaluations are now available.
 
Institution / Location
RSSD
ID
 
Exam Date
CRA
Public Date
CRA
Rating
Exam Method
NONE


CRA Examinations scheduled for Second Quarter of 2007 (April 1, 2007 - June 30, 2007)

Institution Location
ADIRONDACK TC SARATOGA SPRINGS, NEW YORK
BANK OF NY NEW YORK, NEW YORK
FIVE STAR BK WARSAW, NEW YORK

Release dates | Full version (300 KB PDF)
Actions by the Board | Actions under delegated authority
Applications and reports:
Boston | New York | Philadelphia | Cleveland | Richmond | Atlanta
Chicago | St. Louis | Minneapolis | Kansas City | Dallas | San Francisco