Board Actions

First Georgia Community Corp., Jackson, Georgia, and First Georgia Community Bank  -- written agreement with the Federal Reserve Bank of Atlanta and the Banking Commissioner of the State of Georgia.
-Announced, September 19, 2008 

Hastings Bancorp, Inc., Hastings, Nebraska  -- written agreement with the Federal Reserve Bank of Kansas City.
-Announced, September 17, 2008 

Forms  -- final�Board review to extend without revision the recordkeeping and disclosure requirements of Regulation M (Consumer Leasing).
-Approved, September 18, 2008 

System Liquidity Facilities  -- enhancements to liquidity facilities by broadening the types of collateral eligible to be pledged at the Primary Dealer Credit Facility and the Term Securities Lending Facility.
-Approved, September 14, 2008 

System Liquidity Facilities  -- extension of nonrecourse loans at the primary credit rate to U.S. depository institutions and bank holding companies to finance their purchases of high-quality asset-backed commercial paper from money market mutual funds.
-Approved, September 19, 2008 

System Liquidity Facility  -- authorization for the Federal Reserve Bank of New York to lend up to $85 billion, secured by certain terms and conditions, to the American International Group, Inc. under section 13(3) of the Federal Reserve Act.
-Approved, September 16, 2008 

Asset-Backed Commercial Paper Purchases  -- interim final rules with request for comment to provide temporary limited exemptions (until January 30, 2009, unless extended by the Board) from the Board's leverage and risk-based capital rules for bank holding companies and state member banks and from sections 23A and 23B of the Federal Reserve Act and Regulation W in connection with the purchases of high-quality asset-backed commercial paper from money market mutual funds.
-Approved, September 19, 2008 

Equity Investments in Banks and Bank Holding Companies  -- policy statement to clarify the Board's position on the types of minority equity investments in banks and bank holding companies that would not constitute "control" for purposes of the Bank Holding Company Act.
-Approved, September 19, 2008 

Regulation W  -- interim final rule with request for comment to provide a temporary exemption (until January 30, 2009, unless extended by the Board) from section 23A of the Federal Reserve Act and Regulation W to allow all insured depository institutions to provide liquidity to their affiliates for assets typically funded in the tri-party repurchase agreement market.
-Approved, September 14, 2008 

Rules of Practice for Hearings  -- amendment to increase the Board's civil money penalties to account for inflation, and determination that public comment and a delayed effective date for the amendment are unnecessary.
-Approved, September 19, 2008