Board Actions

First National Bank Group, Edinburg, Texas  -- request by Southside Bancshares, Incorporated, Tyler, for reconsideration of the Board's approval of the application by First National Bank Group, Edinburg, to acquire shares and control of Southside Bancshares, Tyler, and its subsidiary banks, Southside Bank and Fort Worth National Bank, Fort Worth.
-Denied, February 28, 2008 

Standard Chartered PLC, London, United Kingdom; Standard Chartered Holdings Limited, and Standard Chartered Bank  -- to acquire American Express Bank Ltd., New York, New York, and thereby acquire its Edge corporation subsidiary, American Express Bank International; and to establish American Express Bank Ltd. as an agreement corporation.
-Approved, February 28, 2008 

Payments System Risk  -- publication for comment of amendments to the Board's Policy on Payments System Risk to adopt a new strategy for providing intraday balances and credit to depository institutions and encourage those institutions to collateralize their daylight overdrafts (OP-1309), and amendments to change the daylight overdraft posting rules to align the posting times for automated clearinghouse credit and debit transfers in the payment system (OP-1310).
-Approved, February 26, 2008