Board Actions

Actions taken during the week ending August 26, 2006

Banks, State Member

State Street Bank and Trust Company, Boston, Massachusetts, and State Street Corporation -- request for an exception to the Board's risk-based capital guidelines for certain securities lending transactions conducted on an agency basis, and delegation of authority to the Director of the Division of Banking Supervision and Regulation to approve similar requests in the future.
-Granted, August 14, 2006 (AC)

Enforcement

Bank of York, York, Alabama -- issuance of a consent cease and desist order.
-Announced, August 22, 2006

Regulations And Policies

Regulation E (Electronic Fund Transfers) -- final amendments to the regulation and official staff commentary regarding coverage of payroll card accounts (Docket No. R-1247), and interim final rule with request for comment regarding electronic collection of service fees and electronic check conversion transactions (Docket No. R-1265).
-Approved, August 21, 2006