Board Actions

Actions taken during the week ending April 4, 2020

Regulations and Policies

Community Bank Leverage Ratio -- (1) two interagency interim final rules with request for comment to provide temporary relief to community banking organizations; and (2) related temporary revisions to the Financial Statements for Holding Companies (FR Y-9C reports).
-Approved, April 3, 2020

Control and Divestiture Proceedings -- final rule to delay until September 30, 2020, the effective date of the Board's revised framework for determining control of a banking organization.
-Approved, March 31, 2020

Lending and Liquidity Facilities -- reports to Congress pursuant to section 13(3) of the Federal Reserve Act in response to COVID-19.
-Approved, March 24, 2020
(A/C)

Lending and Liquidity Facilities -- reports to Congress pursuant to section 13(3) of the Federal Reserve Act in response to COVID-19.
-Approved, March 29, 2020

Privacy Act -- proposed rule and request for comment to amend the Board's Privacy Act Rule by adding a system of records, entitled BGFRS-43 (Security Sharing Platform), to the Rule's list of system of records that are exempt from certain provisions of the Privacy Act.
-Published, April 1, 2020

Volcker Rule -- interagency announcement that the financial regulatory agencies will consider comments submitted before May 1, 2020, on their proposal to modify the Volcker rule's general prohibition on banking entities investing in or sponsoring "covered funds."
-Announced, April 2, 2020

Section 23A Exemptions

PNC Bank, National Association (Bank), Wilmington, Delaware -- determination that a proposed transaction by Bank to purchase certain assets from a securities affiliate would be in the public interest and consistent with the purposes of section 23A of the Federal Reserve Act.
-Approved, March 25, 2020
(A/C)

Supervision and Regulation

Mortgage Servicing -- interagency policy statement with the Conference of State Bank Supervisors regarding the mortgage servicing rules in response to the COVID-19 emergency and the CARES Act.
-Announced, April 3, 2020