Board Actions

Actions taken during the week ending October 18, 2008

Bank Holding Companies

Caja de Ahorros y Monte de Piedad de Madrid, Madrid, Spain; Caja Madrid Cibeles S.A.; and CM Florida Holdings, Inc., Coral Gables, Florida -- to acquire shares of City National Bancshares, Inc., Miami, Florida, and its subsidiary bank, City National Bank of Florida.
-Approved, October 15, 2008

Enforcement

Alliance Bancshares California, Culver City, California -- written agreement with the Federal Reserve Bank of San Francisco.
-Announced, October 16, 2008

AmericasBank, Towson, Maryland -- written agreement with the Federal Reserve Bank of Richmond and the Maryland Division of Financial Regulation.
-Announced, October 16, 2008

Irwin Financial Corporation, Columbus, Indiana, and Irwin Union Bank and Trust Company -- written agreement with the Federal Reserve Bank of Chicago and the Indiana Department of Financial Institutions.
-Announced, October 14, 2008

Monetary and Financial Policy

Commercial Paper Funding Facility -- additional details regarding the CPFF, to be implemented on October 27, 2008, to provide a liquidity backstop to U.S. issuers of commercial paper.
-Announced, October 14, 2008

Systemic-Risk Exception -- recommendation to the Secretary of the Treasury to invoke the systemic-risk exception to the Federal Deposit Insurance Act, enabling the Federal Deposit Insurance Corporation to provide certain guarantees.
-Announced, October 14, 2008

Regulations And Policies

Capital Rules -- interim final rule with request for public comment to allow bank holding companies to include in their tier 1 capital without restriction the senior perpetual preferred stock issued to the Treasury Department under the capital purchase program.
-Announced, October 16, 2008

Testimony And Statements

Over-the-Counter Derivatives -- statement by Patrick Parkinson, deputy director, Division of Research and Statistics, before the House Committee on Agriculture.
-Submitted, October 15, 2008