Board Actions

Actions taken during the week ending November 22, 2008

Enforcement

Bank of Montreal, Toronto, Canada -- issuance of a consent order of prohibition against David Lee, former managing director of the Commodities Trading Group and an institution-affiliated party of the Chicago, Illinois, branch of Bank of Montreal.
-Announced, November 18, 2008

FirstBank Financial Services, Inc., McDonough, Georgia -- written agreement with the Federal Reserve Bank of Atlanta and the Banking Commissioner of the State of Georgia.
-Announced, November 19, 2008

Southern Community Bancshares, Inc., Fayetteville, Georgia -- written agreement with the Federal Reserve Bank of Atlanta and the Banking Commissioner of the State of Georgia.
-Announced, November 19, 2008

Monetary and Financial Policy

Term Auction Facility -- TAF auction in the amount of $150 billion in 28-day credit on November 17, 2008.
-Announced, November 17, 2008

Regulations And Policies

American International Group, Inc. -- report to the Congress under the�Emergency Economic Stabilization Act of 2008 regarding the restructuring of�financial support to the company.
-Approved, November 17, 2008

Testimony And Statements

Credit Derivatives -- statement by Patrick M. Parkinson, deputy director, Division of Research and Statistics, before the House Committee on Agriculture.
-Published, November 20, 2008

Effects of the Financial Crisis on Small Business -- statement by Governor Kroszner before the House Committee on Small Business.
-Published, November 20, 2008

Troubled Asset Relief Program and the Federal Reserve's Liquidity Facilities -- statement by Chairman Bernanke before the House Committee on Financial Services.
-Published, November 18, 2008