Board Actions

Actions taken during the week ending June 24, 2006

Bank Holding Companies

Banco Santander Central Hispano, S.A., Madrid, Spain -- commenter's request for reconsideration of the Board's approval of the application to acquire control of Sovereign Bancorp, Wyomissing, Pennsylvania, Sovereign Bank, and Independence Community Bank, Brooklyn, New York.
-Denied, June 22, 2006

Enforcement

First Baird Bancshares, Inc., Bedford, Texas -- issuance of a consent order to cease and desist and assessment of civil money penalties against First Baird Bancshares, Inc., and Joe E. Sharp, an institution-affiliated party.
-Announced, June 22, 2006

Regions Bank, Birmingham, Alabama -- issuance of an order of prohibition against Trampas B. Riggs, a former employee and institution-affiliated party.
-Announced, June 21, 2006

Regulations And Policies

Payments System Risk Policy -- publication for comment of revisions to Part I of the policy relating to central counterparties and establishing an expectation that systemically important systems disclose publicly certain self-assessments (Docket No. OP-1259).
-Approved, June 19, 2006