Board Actions

Forms -- (1) initial Board review of two separate proposals to extend with revision the Capital Assessments and Stress Testing Reports (FR Y-14/A/Q/M), and (2) incorporation, in the FR Y-14 reports, of changes to address the revised accounting standards for the adoption of the current expected credit loss (CECL) methodology.
-Proposed, July 25, 2019

Division of Research and Statistics -- appointment of Burcu Duygan-Bump, Andrew Figura, Glenn Follette, Erik Heitfield, Patrick McCabe, Norman Morin, Karen Pence, John Roberts, Shane Sherlund, Lil Shewmaker, and Paul Smith as deputy associate directors; and Eric Engstrom as senior adviser while remaining a deputy associate director in the Division of Monetary Affairs.
-Announced, July 23, 2019

Credit Card Plans -- annual report to Congress on the profitability of credit card operations of depository institutions.
-Approved, July 18, 2019
(A/C)

Bank Secrecy Act/Anti-Money-Laundering (BSA/AML) -- issuance of interagency statement to improve transparency in the agencies' risk-focused approach to BSA/AML supervision.
-Announced, July 22, 2019

Resolution Plans -- joint feedback with the Federal Deposit Insurance Corporation to 82 foreign banking organizations on their December 2018 resolution plans.
-Approved, July 22, 2019

Resolution Plans -- (1) joint extensions with the Federal Deposit Insurance Corporation (FDIC) for 82 foreign banking organizations (FBOs) and 15 domestic large banking organizations to move their next resolution-plan filing date to July 1, 2021, and (2) joint exemptions with the FDIC for Barclays PLC, Credit Suisse, Deutsche Bank AG, and UBS AG from certain informational requirements for their July 1, 2020 resolution plans.
-Approved, July 24, 2019

First National Financial Services, Inc., Elk River, Minnesota -- written agreement dated April 12, 2010, terminated July 19, 2019.
-Announced, July 25, 2019

Mesaba Bancshares, Inc., Grands Rapids, Minnesota -- written agreement dated August 3, 2011, terminated July 19, 2019.
-Announced, July 25, 2019