Board Actions

KeyCorp, Cleveland, Ohio  -- to acquire U.S.B. Holding Co., Inc., Orangeburg, New York, and its subsidiary, Union State Bank, Nanuet.
-Approved, November 2, 2007 

Discount and Advance Rates  -- decrease in the primary credit rate from 5-1/4 percent to 5 percent by the Federal Reserve Banks of Boston, Philadelphia, Cleveland, Minneapolis, Kansas City, and Dallas.
-Approved, November 1, 2007 

Discount and Advance Rates  -- decrease in the primary credit rate from 5-1/4 percent to 5 percent by the Federal Reserve Banks of New York, Richmond, Atlanta, Chicago, St. Louis, and San Francisco.
-Approved, October 31, 2007 

Farmers and Merchants Bank of Long Beach, Long Beach, California  -- issuance of consent order of assessment of a civil money penalty.
-Announced, November 2, 2007 

Basel II Capital Accord  -- final rules to implement new risk-based capital requirements in the United States for large, internationally active banking organizations (Docket No. R-1261).
-Approved, November 2, 2007 

Electronic Consumer Disclosures  -- final amendments to five consumer regulations (Regulations B, E, M, Z, and DD) to clarify the requirements for providing consumer disclosures in electronic form; to withdraw certain provisions issued as interim rules in 2001; and to retain certain provisions of the interim rules that provide regulatory relief and guidance on the use of electronic disclosures (Docket Nos. R-1281, R-1282, R-1283, R-1284, and R-1285).
-Approved, October 23, 2007  (AC)

Federal Reserve Priced Services and Private Sector Adjustment Factor  -- 2008 fee schedules for priced services and electronic access, and a private sector adjustment factor.
-Approved, November 2, 2007 

Minority-Owned Depository Institutions  -- statement by Sandra F. Braunstein, Director, Division of Consumer and Community Affairs, before a subcommittee of the House Financial Services Committee regarding minority-owned banks on October 30, 2007.
-Reviewed, October 29, 2007