Board Actions

Actions taken during the week ending October 8, 2011

Testimony and Statements

Economic Outlook and Monetary Policy -- statement by Chairman Bernanke before the Joint Economic Committee of the U.S. Congress on the economic outlook and recent monetary policy actions.
-Published, October 4, 2011

Banking Supervision & Regulation

Extensions of Time -- delegation of authority to the director of the Division of Banking Supervision and Regulation, with the concurrence of the general counsel, to extend the processing periods for certain applications and notices filed under the Bank Holding Company Act, Home Owners' Loan Act, and International Banking Act.
-Approved, October 5, 2011

Forms

Forms -- final Board review to extend without revision the Recordkeeping, Reporting, and Disclosure Requirements in Connection with Regulation BB (Community Reinvestment Act).
-Approved, October 3, 2011

Forms -- initial Board review to extend with revision the Survey of Terms of Business Lending (FR 2028A), Survey of Terms of Bank Lending to Farmers (FR 2028B), and Prime Rate Supplement to the Survey of Terms of Lending (FR 2028S).
-Proposed, October 5, 2011

Regulations and Policies

Regulation VV (Proprietary Trading and Relationships with Covered Funds) -- publication for comment of an interagency rule to implement the so-called Volcker Rule of the Dodd-Frank Act, which contains certain prohibitions and restrictions on banking entities and nonbank financial companies supervised by the Federal Reserve.
-Approved, October 7, 2011

Regulations D (Reserve Requirements of Depository Institutions) and J (Collection of Checks and Other Items by Federal Reserve Banks and Funds Transfers Through Fedwire) -- publication for comment of amendments to simplify the administration of reserve requirements and to make other technical changes.
-Approved, October 7, 2011

Enforcement

State Bank Financial, La Crosse, Wisconsin -- written agreement dated September 13, 2010, terminated September 27, 2011.
-Announced, October 4, 2011

Tennessee Valley Financial Holdings, Inc., Oak Ridge, Tennessee -- written agreement with the Federal Reserve Bank of Atlanta.
-Announced, October 4, 2011