Board Actions

Actions taken during the week ending January 3, 2009

Advisory Councils

Thrift Institutions Advisory Council -- appointment of six new members and designation of Curtis L. Hage as president and F. Edward Broadwell Jr. as vice president in 2009.
-Announced, December 31, 2008

Bank Holding Companies

CIT Group Inc., New York, New York -- to become a bank holding company on conversion of its industrial loan company, CIT Bank, Salt Lake City, Utah, to a state bank and to retain certain nonbanking subsidiaries.
-Announced, December 22, 2008 (AC)

Banks, National

Wachovia Bank, National Association, Charlotte, North Carolina -- request for an exemption from section 23A of the Federal Reserve Act and Regulation W to allow the bank�to purchase auction-rate securities from an affiliate.
-Approved, December 29, 2008

Monetary and Financial Policy

Term Auction Facility -- TAF auction in the amount of $150 billion in 83-day credit on December 29, 2008.
-Announced, December 29, 2008