| Public Information Documents |
Actions taken by the Board of Governors and its staff
under delegated authority
Advisory Councils
Consumer Advisory Council -- appointment of ten new members and designation of Edna Sawady as chair and Michael D. Calhoun as vice chair for 2009.
- Announced, January 7, 2009
Secretary
SunTrust Bank, Atlanta, Georgia -- to establish branches at 5420 West Fayetteville Road, College Park; 1628 Cumming Highway, Canton; 12737 Tamiami Trail East, Naples, Florida; and 5795 North Airport Road.
- Approved, February 25, 2009
Secretary
PNC Bank, Delaware, Wilmington, Delaware -- to establish branches at 220 Town Center Drive, Millville; 19312 Lighthouse Plaza Boulevard, Rehoboth Beach; and 25939 John J. Williams Highway, Long Neck.
- Approved, February 19, 2009
Secretary
SunTrust Bank, Atlanta, Georgia -- to establish a branch at 3330 Forum Boulevard, Fort Myers, Florida.
- Approved, February 3, 2009
Secretary
SunTrust Bank, Atlanta, Georgia -- to establish a branch at 6653 Jog Road, Boca Raton, Florida.
- Approved, January 29, 2009
Director, Banking Supervision and Regulation
Bank of America Corporation, Charlotte, North Carolina -- request for temporary relief from the Board's regulatory reporting requirements for bank holding companies.
- Partially granted, April 13, 2009
Director, Banking Supervision and Regulation
GMAC LLC, Detroit, Michigan -- request for temporary relief from the Board's regulatory reporting requirements for bank holding companies.
- Granted, April 13, 2009
Director, Banking Supervision and Regulation
Mitsubishi UFJ Financial Group, Inc., Tokyo, Japan -- modification of certain commitments.
- Granted, April 13, 2009
Director, Banking Supervision and Regulation
CIT Group Inc., New York, New York, and CIT Bank, Salt Lake City, Utah -- request for an exemption from section 23A of the Federal Reserve Act and Regulation W to allow CIT Bank to acquire CIT Education Loan Trust 2008-BBC; Education Funding Resources III, LLC; and Education Funding Resources, LLC.
- Granted, April 13, 2009
Director, Banking Supervision and Regulation
Morgan Stanley, New York, New York -- request for an exception to the Board's risk-based capital guidelines that would lower the risk weight for Regulation T margin loans.
- Granted, April 10, 2009
Director, Banking Supervision and Regulation
The Goldman Sachs Group, Inc., New York, New York -- request for an exception to the Board's risk-based capital guidelines that would lower the risk weight for Regulation T margin loans.
- Granted, April 10, 2009
Director, Banking Supervision and Regulation
Investors Bancorp, MHC, Short Hills, New Jersey, and Investors Bancorp, Inc. -- relief from certain commitments.
- Granted, April 1, 2009
Bank of America Corporation, Charlotte, North Carolina -- request for temporary relief from the Board's risk-based and leverage capital guidelines, in connection with deferred tax assets Bank of America acquired as a result of its acquisition of Merrill Lynch & Company, Inc., New York, New York.
- Granted, March 27, 2009
Government of Singapore Investment Corporation Pte., Ltd., Singapore -- request for a determination that Government of Singapore Investment Corporation (GIC) would not be deemed to control Citigroup Inc., New York, New York, under the Bank Holding Company Act as a result of GIC's participation in a share-exchange offer made by Citigroup; related change in bank control notice; and waiver of public comment period on the notice.
- Approved, March 23, 2009
Southern BancShares (N.C.), Inc., Mount Olive, North Carolina -- to increase its ownership up to 9.9 percent of the voting shares of ECB Bancorp, Inc., Engelhard, and its subsidiary bank, The East Carolina Bank.
- Approved, March 6, 2009
The Goldman Sachs Group, Inc., New York, New York, and Goldman Sachs Bank USA -- modifications of the Board's regulatory reporting requirements for bank holding companies and state member banks.
- Partially granted, February 20, 2009
Wells Fargo & Company, San Francisco, California -- request for temporary relief from the Board's risk-based and leverage capital guidelines, in connection with Wells Fargo's acquisition of Wachovia Corporation, Charlotte, North Carolina.
- Granted, February 19, 2009
Director, Banking Supervision and Regulation
GMAC LLC, Detroit, Michigan -- request for relief from the Board's regulatory reporting requirements for bank holding companies for year-end 2008 and for future reporting periods.
- Partially granted, February 17, 2009
Director, Banking Supervision and Regulation
CIT Group Inc., New York, New York -- request for relief from the Board's regulatory reporting requirements for bank holding companies for year-end 2008.
- Granted, February 17, 2009
General Counsel
Liberty Bancshares, Jonesboro, Arkansas, and Liberty Bank of Arkansas -- request for an exemption under the Depository Institutions Management Interlocks Act and Regulation L to permit a director of the Liberty institutions to continue to also serve as a director and chairman of Tyronza Bancshares, Marked Tree, Arkansas, and its subsidiary bank, First Delta Bank.
- Granted, February 12, 2009
Secretary
Big Country Bancshares, Inc., Abilene, Texas -- to become a bank holding company and to acquire Citizens Bank, N.A., Abilene.
- Approved, January 27, 2009
Protective Life Corporation, Birmingham, Alabama -- to become a bank holding company and to acquire Bonifay Holding Company, Inc., Bonifay, Florida, and its subsidiary bank, The Bank of Bonifay.
- Approved, January 15, 2009
Allianz SE, Munich, Germany -- to retain its interest in The Hartford Financial Services Group, Inc., Hartford, Connecticut, and thereby acquire an indirect interest in Federal Trust Bank, a federal savings association, Sanford, Florida.
- Approved, January 13, 2009
The PNC Financial Services Group, Inc., Pittsburgh, Pennsylvania -- commenter's request for reconsideration of the Board's approval of the application to acquire National City Corporation, Cleveland, Ohio, and its subsidiary bank, National City Bank.
- Denied, January 12, 2009
BB&T Corporation, Winston-Salem, North Carolina, and Branch Banking and Trust Company -- request for an exemption from section 23A of the Federal Reserve Act and Regulation W to allow Branch Banking and Trust Company's securities affiliate, Scott & Stringfellow, Inc., Richmond, Virginia, to hold and receive payments on certain instruments that are backed by a liquidity facility provided by the bank and to allow the bank to purchase these instruments from the securities affiliate.
- Granted, January 8, 2009
First Regional Bancorp, Los Angeles, California -- written agreement with the Federal Reserve Bank of San Francisco.
- Announced, April 23, 2009
Bank On It, Inc., Stockton, California -- written agreement with the Federal Reserve Bank of San Francisco.
- Announced, April 23, 2009
The Tysan Corporation, Minneapolis, Minnesota -- written agreement with the Federal Reserve Bank of Minneapolis.
- Announced, April 23, 2009
Citizens Central Bancorp, Inc., Macomb, Illinois -- written agreement with the Federal Reserve Bank of Chicago.
- Announced, April 21, 2009
Strategic Capital Bancorp, Inc., Champaign, Illinois -- written agreement with the Federal Reserve Bank of Chicago.
- Announced, April 21, 2009
Amoret Bancshares, Inc., Butler, Missouri -- written agreement with the Federal Reserve Bank of Kansas City.
- Announced, April 20, 2009
Beverly Hills Bancorp Inc., Calabasas, California; WFC Inc.; and Wilshire Acquisitions Corporation -- written agreement with the Federal Reserve Bank of San Francisco and the State of California Department of Financial Institutions.
- Announced, April 16, 2009
TFC Holding Company, Alhambra, California -- written agreement with the Federal Reserve Bank of San Francisco.
- Announced, April 15, 2009
Community First Bank, Prineville, Oregon -- written agreement with the Federal Reserve Bank of San Francisco and the Oregon Department of Consumer and Business Services.
- Announced, April 14, 2009
Silverton Financial Services, Inc., Atlanta, Georgia -- written agreement with the Federal Reserve Bank of Atlanta.
- Announced, April 13, 2009
San Joaquin Bancorp, Bakersfield, California, and San Joaquin Bank -- written agreement with the Federal Reserve Bank of San Francisco and the California Office of Financial Institutions.
- Announced, April 9, 2009
Michigan Heritage Bank, Farmington Hills, Michigan -- issuance of a consent prompt corrective action directive against the bank.
- Announced, April 7, 2009
Venture Financial Group, Inc., Dupont, Washington -- written agreement with the Federal Reserve Bank of San Francisco.
- Announced, April 7, 2009
Community Bankshares, Inc., Greenwood Village, Colorado, and Community Banks of Colorado -- written agreement with the Federal Reserve Bank of Kansas City and the Colorado Division of Banking.
- Announced, April 6, 2009
United Security Bancshares, Inc., Woodstock, Georgia -- written agreement with the Federal Reserve Bank of Atlanta and the Banking Commissioner of the State of Georgia.
- Announced, April 6, 2009
WestLB AG, Dusseldorf, Germany, and its New York, New York, branch -- cease and desist order dated August 27, 2003, terminated March 30, 2009.
- Announced, April 2, 2009
Blossman Bancshares, Inc., Lacombe, Louisiana -- written agreement with the Federal Reserve Bank of Atlanta and the Banking Commissioner of the State of Louisiana.
- Announced, April 2, 2009
Heritage Bank, Topeka, Kansas -- issuance of a consent prompt corrective action directive against Heritage Bank.
- Announced, March 31, 2009
BankEast Corporation, Knoxville, Tennessee, and BankEast -- written agreement with the Federal Reserve Bank of Atlanta.
- Announced, March 30, 2009
First State Bank of Red Bud, Red Bud, Illinois -- written agreement with the Federal Reserve Bank of St. Louis and the Illinois Department of Financial and Professional Regulation, Division of Banking.
- Announced, March 27, 2009
Eagle National Holding Company (currently named JGB Financial Holding Company), Miami, Florida -- cease and desist order dated March 30, 2005, terminated March 24, 2009.
- Announced, March 26, 2009
Spring Grove Investments, Inc., Spring Grove, Minnesota -- written agreement with the Federal Reserve Bank of Minneapolis.
- Announced, March 24, 2009
Pine City Bancorporation, Inc., Pine City, Minnesota -- written agreement with the Federal Reserve Bank of Minneapolis.
- Announced, March 24, 2009
BancMidwest Corporation, St. Paul, Minnesota -- written agreement with the Federal Reserve Bank of Minneapolis.
- Announced, March 24, 2009
Premier Bancshares, Inc., Jefferson City, Missouri -- written agreement with the Federal Reserve Bank of St. Louis.
- Announced, March 24, 2009
PlainsCapital Bank, Dallas, Texas -- issuance of a consent order of prohibition and order of assessment of a civil money penalty against G. Craig Chupik, a former vice president and loan officer.
- Announced, March 23, 2009
Columbia Commercial Bancorp, Hillsboro, Oregon -- written agreement with the Federal Reserve Bank of San Francisco and the Oregon Department of Consumer and Business Services, Division of Finance and Securities.
- Announced, March 23, 2009
Thunder Bancorp, Inc., Sylvan Grove, Kansas, and Thunder Bank -- written agreement with the Federal Reserve Bank of Kansas City.
- Announced, March 20, 2009
FNB Holding Company, West Des Moines, Iowa -- written agreement with the Federal Reserve Bank of Chicago.
- Announced, March 18, 2009
Omni Financial Services, Inc., Atlanta, Georgia -- written agreement with the Federal Reserve Bank of Atlanta.
- Announced, March 17, 2009
Societe Generale, Paris, France, and its New York, New York, branch -- written agreement with the Federal Reserve Bank of New York and the New York State Banking Department.
- Announced, March 17, 2009
East Dubuque Savings Bank, East Dubuque, Illinois -- issuance of a consent order of assessment of a civil money penalty.
- Announced, March 9, 2009
SolutionsBank Corporation, Overland Park, Kansas, and SolutionsBank -- written agreement with the Federal Reserve Bank of Kansas City and the Kansas Office of the State Bank Commissioner.
- Announced, March 9, 2009
FSB Bancorp, Inc., Altus, Oklahoma -- issuance of a consent cease and desist order against FSB.
- Announced, February 27, 2009
Cape Fear Bank Corporation, Wilmington, North Carolina -- written agreement with the Federal Reserve Bank of Richmond.
- Announced, February 26, 2009
Corus Bankshares, Inc., Chicago, Illinois -- written agreement with the Federal Reserve Bank of Chicago.
- Announced, February 19, 2009
Florida Community Banks, Inc., Immokalee, Florida -- written agreement with the Federal Reserve Bank of Atlanta.
- Announced, February 19, 2009
Temecula Valley Bancorp, Inc., Temecula, California -- written agreement with the Federal Reserve Bank of San Francisco.
- Announced, February 19, 2009
Polk County Bancorporation, Inc., Johnston, Iowa -- written agreement with the Federal Reserve Bank of Chicago.
- Announced, February 19, 2009
Genoa Banking Company, Genoa, Ohio -- issuance of a consent order of assessment of a civil money penalty.
- Announced, February 9, 2009
FirstCity Bancorp, Inc., Stockbridge, Georgia -- written agreement with the Federal Reserve Bank of Atlanta and the Banking Commissioner of the State of Georgia.
- Announced, February 9, 2009
Exchange Bank of Missouri, Fayette, Missouri -- written agreement dated August 14, 2006, terminated January 30, 2009.
- Announced, February 9, 2009
First SCK Financial Corporation, Anthony, Kansas -- written agreement with the Federal Reserve Bank of Kansas City.
- Announced, February 3, 2009
Sun American Bancorp, Boca Raton, Florida, and Sun American Bank -- written agreement with the Federal Reserve Bank of Atlanta and the Florida Office of Financial Regulation.
- Announced, February 3, 2009
Elmwood Financial Corporation, Racine, Wisconsin, and Bank of Elmwood -- written agreement with the Federal Reserve Bank of Chicago and the Wisconsin Department of Financial Institutions.
- Announced, February 3, 2009
New Frontier Bancorp, Greeley, Colorado -- written agreement with the Federal Reserve Bank of Kansas City.
- Announced, January 30, 2009
America West Bank Members, L.C., Layton, Utah -- written agreement with the Federal Reserve Bank of San Francisco.
- Announced, January 28, 2009
Northpointe Bancshares, Inc., Grand Rapids, Michigan -- written agreement with the Federal Reserve Bank of Chicago.
- Announced, January 27, 2009
First Company, Cody, Wyoming -- written agreement with the Federal Reserve Bank of Kansas City.
- Announced, January 21, 2009
Director, Banking Supervision and Regulation
Wells Fargo & Company, San Francisco, California -- extensions of time and relief from certain divestiture commitments in connection with the acquisition of Wachovia Corporation, Charlotte, North Carolina.
- Granted, April 8, 2009
Director, Banking Supervision and Regulation
The PNC Financial Services Group, Inc., Pittsburgh, Pennsylvania -- extension of time and relief from certain divestiture commitments in connection with the acquisition of National City Corporation, Cleveland, Ohio.
- Granted, April 7, 2009
Director, Banking Supervision and Regulation
The PNC Financial Services Group, Inc., Pittsburgh, Pennsylvania -- extension of time to divest or conform an impermissible investment.
- Granted, March 12, 2009
Forms -- initial Board review to extend without revision the Studies to Develop and Test Consumer Regulatory Disclosures (FR 1380) and to implement the Microeconomic Survey (FR 3051).
- Proposed, March 24, 2009
Forms -- initial Board review to extend without revision the Suspicious Activity Report (FR 2230).
- Proposed, March 9, 2009
Forms -- final Board review to revise without extension the Consolidated Financial Statements for Bank Holding Companies (FR Y-9C) and Parent Company Only Financial Statements for Small Bank Holding Companies (FRY-9SP).
- Approved, March 6, 2009
Forms -- final Board review to extend with revision the Weekly Report of Selected Assets (FR 2644), Quarterly Report of Assets and Liabilities of Large Foreign Offices of U.S. Banks (FR 2502q), and Recordkeeping Requirements Associated with Regulation K; to discontinue the Weekly Report of Assets and Liabilities for Large Banks (FR 2416) and Weekly Report of Assets and Liabilities for Large U.S. Branches and Agencies of Foreign Banks (FR 2069); and to pretest and execute the 2010 Survey of Consumer Finances (FR 3059).
- Approved, February 28, 2009
Forms -- final Board review to extend with revision the Bank Holding Company Report of Insured Depository Institutions' Section 23A Transactions with Affiliates (FR Y-8) and to revise without extension the Financial Statements of U.S. Nonbank Subsidiaries of U.S. Bank Holding Companies (FR Y-11), Financial Statements of Foreign Subsidiaries of U.S. Banking Organizations (FR 2314), Financial Statements of U.S. Nonbank Subsidiaries Held by Foreign Banking Organizations (FR Y-7N), and Consolidated Report of Condition and Income for Edge and Agreement Corporations (FR 2886b).
- Approved, February 25, 2009
Forms -- initial Board review to extend without revision the Recordkeeping Requirements Associated with Real Estate Appraisal Standards for Federally Related Transactions Pursuant to Regulations H and Y (FR H-4), Recordkeeping Requirements Associated with Changes in Foreign Investments (FR 2064), Request for Proposal (RFP) and Request for Price Quotations (RFPQ), and Notice Requirements in Connection with Regulation W (Reg W).
- Proposed, February 25, 2009
Forms -- initial Board review to extend without revision the Senior Loan Officer Opinion Survey on Bank Lending Practices (FR 2018), Senior Financial Officer Survey (FR 2023), Automobile Finance Terms (FR 2005), Passenger Auto Contract Collection Trends at Major Sales Finance Companies (FR 2012), Quarterly Report of Interest Rates on Selected Direct Consumer Installment Loans (FR 2835), and Quarterly Report of Credit Card Plans (FR 2835a).
- Proposed, February 6, 2009
Director, Banking Supervision and Regulation
Citibank, N.A., New York, New York -- to acquire and make investments, through its London branch, in a special-purpose vehicle, under Regulation K.
- Approved, February 11, 2009
Director, Banking Supervision and Regulation
Wachovia International Banking Corporation, Charlotte, North Carolina -- waiver of remainder of notification period to make an investment in Congress Financial Capital Company, Halifax, Nova Scotia, Canada, under Regulation K.
- Granted, January 30, 2009
Director, Banking Supervision and Regulation
GE Money Bank, Salt Lake City, Utah -- request for an exemption from section 23A of the Federal Reserve Act and Regulation W to purchase consumer loan receivables from an affiliate, GE Consumer Finance, Inc., Stamford, Connecticut.
- Granted, January 12, 2009
Federal Reserve Bank of New York -- appointment of William C. Dudley as president, effective January 27, 2009.
- Approved, January 26, 2009
Secretary
Regulation DD (Truth in Savings) -- technical correction to the aggregate overdraft and returned-item fees sample form included in the amendments published on January 29, 2009.
- Approved, April 14, 2009
FOMC
Federal Open Market Committee -- minutes of the meeting on March 17 and 18, 2009, and of the conference call on February 7, 2009.
- Published, April 8, 2009
Federal Reserve Priced Services -- publication for comment of revisions to the methodology for calculating the private-sector adjustment factor for priced services.
- Approved, March 27, 2009
Trust Preferred Securities -- final rule to delay until March 31, 2011, the effective date of new limits on the inclusion of trust preferred securities and other restricted core capital elements in tier 1 capital of bank holding companies.
- Approved, March 16, 2009
American International Group, Inc. -- report to the Congress, required by the Emergency Economic Stabilization Act of 2008, on the restructuring of the government's financial support to AIG.
- Approved, March 9, 2009
Regulation Z (Truth in Lending) -- publication for comment of amendments to revise the disclosure requirements for private student loans consistent with recent statutory changes under the Higher Education Opportunity Act of 2008.
- Approved, March 6, 2009
System Lending Facilities -- second periodic report to the Congress, required by the Emergency Economic Stabilization Act of 2008, on the outstanding lending facilities authorized under section 13(3) of the Federal Reserve Act.
- Approved, February 24, 2009
FOMC
Federal Open Market Committee -- minutes of the meeting on January 27-28 and the conference call on January 16, 2009.
- Published, February 18, 2009
Secretary
Regulation CC (Availability of Funds and Collection of Checks) -- technical amendments to appendix A to reflect the restructuring of check processing operations in the Philadelphia and Richmond Federal Reserve Districts.
- Approved, February 13, 2009
Liquidity Facility Exemptions -- limited exemptions from sections 23A and 23B of the Federal Reserve Act, Regulation W, and the leverage and risk-based capital rules for purchases of asset-backed commercial paper in connection with the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF), subject to safety-and-soundness conditions.
- Approved, January 27, 2009
Regulation W (Transactions Between Member Banks and Their Affiliates) -- exemption until October 30, 2009 (unless extended by the Board), from section 23A of the Federal Reserve Act to allow all insured depository institutions to provide liquidity to their affiliates for assets typically funded in the tri-party repurchase agreement market, subject to safety-and-soundness conditions.
- Approved, January 27, 2009
Regulation D (Reserve Requirements of Depository Institutions) -- publication for comment of amendments authorizing the establishment of limited-purpose accounts, known as "excess balance accounts," at Federal Reserve Banks.
- Approved, January 25, 2009
Homeownership Preservation Policy -- establishment of a policy under the Emergency Economic Stabilization Act to require that, in the event of default of a discount window loan collateralized by residential mortgage assets, the Federal Reserve Banks take actions to prevent avoidable foreclosures in connection with such assets through sustainable loan modifications and other actions that are consistent with the Federal Reserve's obligation to maximize the net present value of the assets for the benefit of taxpayers, and voluntary application of the policy to the residential mortgage assets held by Maiden Lane LLC; Maiden Lane II, LLC; and Maiden Lane III, LLC.
- Approved, January 23, 2009
Bank of America Corporation, Charlotte, North Carolina -- report to Congress, required by the Emergency Economic Stabilization Act, regarding authorization to provide residual financing to Bank of America Corporation relating to a designated asset pool.
- Approved, January 22, 2009
Secretary
Regulation CC (Availability of Funds and Collection of Checks) -- technical amendments to appendix A to reflect the restructuring of check processing operations in the Richmond and Atlanta Federal Reserve Districts.
- Approved, January 16, 2009
FOMC
Federal Open Market Committee -- minutes of the meeting on December 15 and 16, 2008.
- Published, January 6, 2009
The Northern Trust Company, Chicago, Illinois -- request for an exemption from section 23A of the Federal Reserve Act and Regulation W to purchase auction-rate securities from its parent company, Northern Trust Corporation, Chicago.
- Granted, January 9, 2009
Credit Availability and Prudent Lending Standards -- statement by Governor Duke before the House Committee on Financial Services on the state of the banking system.
- Published, March 25, 2009
American International Group, Inc. -- statement by Chairman Bernanke before the House Committee on Financial Services on the Federal Reserve's involvement with AIG.
- Published, March 24, 2009
Financial Consumer Protection Laws -- statement by Governor Elizabeth A. Duke before the House Committee on Financial Services on efforts to address and prevent mortgage-related fraud and abusive lending practices.
- Published, March 20, 2009
Credit Cards and Overdraft Services -- statement by Sandra F. Braunstein, director, Division of Consumer and Community Affairs, before a subcommittee of the House Committee on Financial Services on protections for consumers using credit cards and overdraft protection plans.
- Published, March 19, 2009
Modernizing Bank Supervision and Regulation -- statement by Governor Daniel K. Tarullo before the Senate Committee on Banking, Housing, and Urban Affairs on modernizing financial supervision and regulation.
- Published, March 19, 2009
Risk Management in the Banking Industry -- statement by Roger T. Cole, director, Division of Banking Supervision and Regulation, before a subcommittee of the Senate Committee on Banking, Housing, and Urban Affairs on regulators' oversight of risk management at banking organizations.
- Published, March 18, 2009
Mortgage Lending Reform -- statement by Sandra F. Braunstein, director, Division of Consumer and Community Affairs, before the Subcommittee on Financial Institutions and Consumer Credit of the House Committee on Financial Services on problems in the subprime mortgage market, regulatory actions to address these problems, and potential legislative responses.
- Published, March 11, 2009
American International Group, Inc. -- statement by Vice Chairman Kohn before the Senate Committee on Banking, Housing, and Urban Affairs on the role of the Federal Reserve in stabilizing AIG.
- Published, March 5, 2009
The Economy and the Federal Budget -- statement by Chairman Bernanke before the Senate Committee on the Budget on current economic and financial conditions and the federal budget.
- Published, March 3, 2009
Monetary Policy -- testimony by Chairman Bernanke before the Senate Committee on Banking, Housing, and Urban Affairs on February 24 and before the House Committee on Financial Services on February 25, 2009, on the semiannual Monetary Policy Report to the Congress.
- Discussed, February 20, 2009
Federal Reserve Credit Programs -- statement by Chairman Bernanke before the House Committee on Financial Services on Federal Reserve programs to strengthen credit markets and the economy.
- Published, February 10, 2009
Troubled Asset Relief Program -- statement by Vice Chairman Kohn before the House Committee on Financial Services.
- Published, January 13, 2009
Director, Banking Supervision and Regulation
Companhia E. Johnston de Participacoes, Matao, Brazil -- (1) election to be treated as a financial holding company, effective on its acquisition of shares of Itau Unibanco Participacoes S.A., Sao Paulo, and (2) indirectly to acquire control of Banco Itau Europa International, an Edge corporation, Miami, Florida.
- Approved, February 4, 2009
Director, Banking Supervision and Regulation
HSH Nordbank AG, Hamburg/Kiel, Germany -- election to be treated as a financial holding company.
- Effective, January 27, 2009
Division of Information Technology -- appointment of Wayne A. Edmondson as deputy director and Rajasekhar R. Yelisetty as assistant director.
- Approved, February 12, 2009
Term Auction Facility -- TAF auction in the amount of $150 billion in 84-day credit on April 20, 2009.
- Announced, April 20, 2009
Term Auction Facility -- TAF auction in the amount of $150 billion in 28-day credit on April 6, 2009.
- Announced, April 6, 2009
Term Auction Facility -- TAF auction in the amount of $150 billion in 84-day credit on March 23, 2009.
- Announced, March 23, 2009
Term Asset-Backed Securities Loan Facility -- to expand the types of eligible collateral for loans extended under the TALF to include asset-backed securities backed by mortgage-servicing advances, loans or leases relating to business equipment, leases of vehicle fleets, and non-auto floorplan loans.
- Approved, March 19, 2009
Term Auction Facility -- TAF auction in the amount of $150 billion in 28-day credit on March 9, 2009.
- Announced, March 9, 2009
American International Group, Inc., New York, New York -- authorization for the Federal Reserve Bank of New York to take certain actions relating to its Revolving Credit Facility for AIG as part of a restructuring by the Department of the Treasury and the Federal Reserve of the government's assistance to help stabilize the company.
- Approved, March 1, 2009
Term Auction Facility -- TAF auction in the amount of $150 billion in 84-day credit on February 23, 2009.
- Announced, February 23, 2009
Term Asset-Backed Securities Loan Facility -- adjustments to the terms on TALF loans secured by certain asset-backed securities backed by newly and recently originated auto, credit card, and student loans and SBA-guaranteed small business loans.
- Approved, February 23, 2009
Term Asset-Backed Securities Loan Facility -- establishment of rates for the TALF at the Federal Reserve Bank of New York.
- Approved, February 23, 2009
Monetary Policy -- Monetary Policy Report to the Congress.
- Authorized, February 19, 2009
Term Auction Facility -- TAF auction in the amount of $150 billion in 28-day credit on February 9, 2009.
- Announced, February 9, 2009
Term Asset-Backed Securities Loan Facility -- revised terms and conditions, including loan rates, collateral haircuts, the definition of eligible borrowers, and additional specifications for eligible asset-backed securities collateral.
- Approved, February 6, 2009
Liquidity Facilities -- extension through October 30, 2009, of the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility, Commercial Paper Funding Facility, Money Market Investor Funding Facility, Primary Dealer Credit Facility, and (approved jointly with the Federal Open Market Committee) Term Securities Lending Facility.
- Approved, January 27, 2009
Term Auction Facility -- TAF auction in the amount of $150 billion in 84-day credit on January 26, 2009.
- Announced, January 26, 2009
Bank of America Corporation, Charlotte, North Carolina -- joint statement by the Board, Department of the Treasury, and Federal Deposit Insurance Corporation on an agreement with Bank of America to provide a package of guarantees, liquidity access, and capital.
- Announced, January 16, 2009
Term Auction Facility -- TAF auction in the amount of $150 billion in 28-day credit on January 12, 2009.
- Announced, January 12, 2009
Money Market Investor Funding Facility (MMIFF) -- revisions to expand the set of eligible investors to include certain U.S.-based securities lenders, government investment pools, and other investment funds and to adjust several economic parameters of the MMIFF.
- Announced, January 7, 2009