Board Actions

Actions taken during the week ending April 5, 2008

Bank Holding Companies

JPMorgan Chase & Co., New York, New York -- to acquire control of Bear Stearns Bank & Trust, Princeton, New Jersey; and to grant temporarily (1) an exemption from section 23A of the Federal Reserve Act and (2) relief from the Board's risk-based and leverage capital guidelines.
-Approved, April 1, 2008

Enforcement

First Pryority Bank, Pryor, Oklahoma -- written agreement with the Federal Reserve Bank of Kansas City and the Oklahoma State Banking Department.
-Announced, April 3, 2008

Sella Holding Banca, S.p.A., Biella, Italy, and Sella Holding Banca, S.p.A. d/b/a Banca Sella, S.p.A., Miami Agency, Miami, Florida -- written agreement dated April 12, 2006, terminated March 26, 2008.
-Announced, April 1, 2008

Testimony And Statements

Developments in the Financial Markets -- statement by Chairman Bernanke before the Committee on Banking, Housing, and Urban Affairs of the U.S. Senate on April 3, 2008.
-Published, April 3, 2008

The Economic Outlook -- statement by Chairman Bernanke before the Joint Economic Committee of the U.S. Congress on April 2, 2008.
-Published, April 2, 2008

Unlawful Internet Gambling -- statement by Louise L. Roseman, director of the Division of Reserve Bank Operations and Payment Systems, before a subcommittee of the House Committee on Financial Services on April 2, 2008, regarding the rule proposed by the Federal Reserve Board and the Secretary of the Treasury to implement the Unlawful Internet Gambling Enforcement Act of 2006.
-Reviewed, March 31, 2008