Board Actions

Capital Adequacy Guidelines -- final interagency rule to amend, consistent with certain provisions of the Dodd-Frank Act, (1) the advanced approaches rule to establish a risk-based floor and (2) the general risk-based capital rules to provide limited flexibility to establish capital requirements for certain low-risk assets generally not held by insured depository institutions.
-Approved, June 9, 2011

Capital Adequacy Guidelines -- (1) interim final rule with request for comment to allow small bank holding companies that are organized as S corporations or in mutual form to exclude subordinated debt issued to the Department of the Treasury under the Small Business Lending Fund from treatment as "debt" for purposes of certain provisions of the Board's Small Bank Holding Company Policy Statement and (2) final rule to permit bank holding companies that are organized as S corporations or in mutual form to include in tier 1 capital subordinated debt issued to the Treasury under the Troubled Asset Relief Program and to allow those companies to exclude such debt for purposes of the policy statement.
-Approved, June 11, 2011

Regulation Y (Bank Holding Companies and Change in Bank Control) -- publication for comment of amendments requiring large bank holding companies to submit capital plans annually and to provide prior notice, under certain circumstances, before making a capital distribution.
-Approved, June 9, 2011

Regulation Z (Truth in Lending) and Regulation M (Consumer Leasing) -- final rules increasing the dollar thresholds for exempt consumer credit transactions and consumer leases to $51,800, effective January 1, 2012.
-Approved, June 11, 2011

Stress Testing Guidance -- publication for comment of interagency guidance on stress testing for banking organizations with more than $10 billion in total assets.
-Approved, May 31, 2011
(A/C)

Cornerstone Holding Company, Inc., Fargo, North Dakota -- written agreement with the Federal Reserve Bank of Minneapolis.
-Announced, June 7, 2011