Board Actions

Actions taken during the week ending April 11, 2020

Forms

Forms -- initial Board review to extend without revision the Ongoing Intermittent Survey of Households (FR 3016) and final Board review to extend with revision the Census of Finance Companies and Survey of Finance Companies (FR 3033p and FR 3033s).
-Approved, April 8, 2020

Monetary and Financial Policy

Lending Facilities -- establishment of the Paycheck Protection Program Lending Facility (PPPLF) and modifications to the Primary Market Corporate Credit Facility (PMCCF), Secondary Market Corporate Credit Facility (SMCCF), and Term Asset-Backed Securities Loan Facility (TALF).
-Approved, April 8, 2020

Lending Facilities -- establishment of the Municipal Liquidity Facility, Main Street New Loan Facility, and Main Street Expanded Loan Facility.
-Approved, April 8, 2020

Personnel

Division of Research and Statistics -- appointment of John Stevens as senior associate director and Tim Mullen as associate director.
-Announced, April 9, 2020

Regulations and Policies

Regulatory Capital -- (1) interagency interim final rule with request for comment to allow banking organizations to neutralize the regulatory capital effects of participating in the Paycheck Protection Program Lending Facility; and (2) related temporary revisions to the Financial Statements for Holding Companies (FR Y-9 reports).
-Approved, April 8, 2020

Temporary Appraisal Relief -- interagency interim final rule with request for comment to temporarily defer real estate-related appraisals and evaluations under the agencies' appraisal regulations.
-Approved, April 10, 2020

Supervision and Regulation

Loan Modifications -- revised interagency statement, in consultation with state financial regulators, on loan modifications and reporting for financial institutions working with customers affected by the coronavirus.
-Announced, April 7, 2020

Enforcement

Wells Fargo & Company (WFC), San Francisco, California -- amendment to the 2018 Consent Order to temporarily and narrowly modify the growth restriction on WFC so that it can provide additional support to small businesses.
-Approved, April 8, 2020