Board Actions

Actions taken during the week ending November 29, 2008

Bank Holding Companies

Bank of America Corporation, Charlotte, North Carolina -- to acquire Merrill Lynch & Co., Inc., New York, New York, and thereby acquire Merrill Lynch Bank & Trust Co., FSB; Merrill Lynch Bank USA, Salt Lake City, Utah; and Merrill Lynch Yatirim Bank A.S., Istanbul, Turkey.
-Approved, November 26, 2008

Banks, Nonmember, And Miscellaneous Institutions

Union Bank and Trust Company, Lincoln, Nebraska -- request for an exemption from section 23A of the Federal Reserve Act and Regulation W to purchase student loans from its affiliate, Nelnet, Inc., Lincoln.
-Granted, November 24, 2008

Enforcement

Team Financial, Inc., Paola, Kansas; Team Financial Acquisition Subsidiary, Inc.; and Post Bancorp, Inc., Colorado Springs, Colorado -- written agreement with the Federal Reserve Bank of Kansas City.
-Announced, November 25, 2008

Monetary and Financial Policy

Citigroup Inc., New York, New York -- joint statement by the Board, Department of the Treasury, and Federal Deposit Insurance Corporation on an agreement with Citigroup to provide a package of guarantees, liquidity access, and capital.
-Announced, November 23, 2008

Term Asset-Backed Securities Loan Facility (TALF) -- to create a loan facility to help market participants meet the credit needs of households and small businesses by supporting the issuance of asset-backed securities collateralized by student loans, auto loans, credit card loans, and loans guaranteed by the Small Business Administration.
-Announced, November 25, 2008

Term Auction Facility -- forward TAF auction on November 24, 2008, in the amount of $150 billion in 13-day credit to provide term funding over year-end.
-Announced, November 24, 2008