Board Actions

Actions taken during the week ending January 26, 2008

Bank Holding Companies

The PNC Financial Services Group, Inc., Pittsburgh, Pennsylvania -- to merge with Sterling Financial Corporation, Lancaster, and for PNC Bank Delaware, Wilmington, Delaware, to merge with Delaware Sterling Bank & Trust Company, Christiana.
-Approved, January 24, 2008

Banks, Foreign

State Bank of India, Mumbai, India -- to establish a branch in Jackson Heights, New York.
-Approved, January 24, 2008

Discount Rates

Discount and Advance Rates -- decrease in the primary credit rate from 4-3/4 percent to 4 percent by the Federal Reserve Banks of Chicago and Minneapolis, effective January 22, 2008.
-Approved, January 21, 2008

Discount and Advance Rates -- decrease in the primary credit rate from 4-3/4 percent to 4 percent by the Federal Reserve Banks of Atlanta and Kansas City.
-Approved, January 24, 2008

Discount and Advance Rates -- decrease in the primary credit rate from 4-3/4 percent to 4 percent by the Federal Reserve Banks of Boston, New York, Philadelphia, Cleveland, Richmond, St. Louis, Dallas, and San Francisco.
-Approved, January 22, 2008

Enforcement

Coconut Grove Bank, Miami, Florida -- isssuance of a consent order of prohibition against Aldo N. Morales, a former vice president, loan officer, and institution-affiliated party.
-Announced, January 24, 2008

Traders Bank, Spencer, West Virginia -- issuance of consent order of assessment of a civil money penalty.
-Announced, January 24, 2008