Board Actions

Royal Bank of Canada, Montreal, Canada, and RBC USA Holdco Corporation, New York, New York -- to acquire City National Corporation, Los Angeles, California, and thereby indirectly acquire City National Bank; election by RBC USA Holdco Corporation to become a financial holding company; and one-year extension of time for RBC USA Holdco Corporation to comply with the Board's capital plan and stress-testing rules.
-Approved, October 5, 2015

Forms -- initial Board review to extend without revision the Consolidated Holding Company Report of Equity Investments in Nonfinancial Companies (FR Y-12), Annual Report of Merchant Banking Investments Held for an Extended Period (FR Y-12A), Domestic Branch Notification (FR 4001), Suspicious Activity Report (FR 2230), and disclosure requirements of Subpart H of Regulation H (Reg H-7).
-Proposed, October 8, 2015

Division of Reserve Bank Operations and Payment Systems -- appointment of Jennifer Chang as assistant director and Lisa Hoskins as senior adviser.
-Approved, October 5, 2015