Board Actions

Actions taken during the week ending October 25, 2008

Bank Holding Companies

Wells Fargo & Company, San Francisco, California -- statement regarding approval of application to acquire Wachovia Corporation, Charlotte, North Carolina.
-Approved, October 21, 2008

Enforcement

Bank of Canton, Canton, Pennsylvania -- written agreement with the Federal Reserve Bank of Philadelphia.
-Announced, October 22, 2008

Forms

Forms -- final�Board review to extend without revision the (1) Recordkeeping and Disclosure Requirements for loans secured by property in flood hazard areas (Reg H-2) and (2) Recordkeeping, Reporting, and Disclosure Requirements pursuant to the Community Reinvestment Act�(Reg BB).
-Approved, October 21, 2008

Monetary and Financial Policy

Money Market Investor Funding Facility (MMIFF) -- establishment of the MMIFF to support a private-sector initiative designed to provide liquidity to U.S. money market investors.
-Approved, October 21, 2008

Term Auction Facility -- TAF auction in the amount of $150 billion in 28-day credit on October 20, 2008.
-Announced, October 20, 2008

Regulations And Policies

Regulation C (Home Mortgage Disclosure) -- final amendments to Regulation C (Home Mortgage Disclosure) to revise the rules for reporting price information on higher-priced mortgage loans.
-Approved, October 20, 2008

Testimony And Statements

Economic Outlook and Financial Markets -- statement by Chairman Bernanke before the House Committee on the Budget on recent developments in financial markets and the near-term economic outlook.
-Published, October 20, 2008

Foreclosure Prevention Efforts and Market Stability -- statement by Governor Duke before the Senate Committee on Banking, Housing, and Urban Affairs on recent regulatory actions to stabilize financial markets and�prevent foreclosures.
-Published, October 23, 2008