Board Actions

Actions taken during the week ending December 24, 2005

Bank Holding Companies

Deutsche Bank AG, Frankfurt, Germany, and Taunus Corporation, New York, New York -- to engage in physical commodity trading activities on a limited basis as an activity that is complementary to a financial activity.
-Approved, December 19, 2005

Penn Bancshares, Inc., Pennsville, New Jersey -- to acquire up to 24.89 percent of the shares of Harvest Community Bank.
-Approved, December 19, 2005

Currency

Federal Reserve Notes -- new currency budget for 2006.
-Approved, December 19, 2005

Enforcement

ABN AMRO Bank N.V., Amsterdam, The Netherlands; and its New York, New York, and Chicago, Illinois, Branches -- interagency issuance of a consent cease and desist order and assessment of penalties.
-Announced, December 19, 2005

County Bank, Merced, California -- written agreement dated October 26, 2004, terminated December 15, 2005.
-Announced, December 21, 2005

Forms

Forms -- final Board review to extend without revision the Recordkeeping and Disclosure Requirements Associated with Loans Secured by Real Estate Located in Flood Hazard Areas Pursuant to Section 208.25 of Regulation H (Reg H-2) and Recordkeeping, Reporting, and Disclosure Requirements Pursuant to the Community Reinvestment Act (Reg BB).
-Approved, December 19, 2005

Regulations And Policies

Nontraditional Mortgage Products -- publication for comment of interagency guidance on residential mortgage products that allow borrowers to defer repayment of principal and sometimes interest (Docket No. OP-1246).
-Approved, December 19, 2005

Reserve Bank Operations

Federal Reserve Bank Budgets -- operating and capital budgets for the Reserve Banks and Federal Reserve Information Technology, and operating budget for the Office of Employee Benefits for 2006.
-Approved, December 20, 2005