Board Actions

America West Bank Members, L.C., Layton, Utah  -- written agreement with the Federal Reserve Bank of San Francisco.
-Announced, January 28, 2009 

New Frontier Bancorp, Greeley, Colorado  -- written agreement with the Federal Reserve Bank of Kansas City.
-Announced, January 30, 2009 

Northpointe Bancshares, Inc., Grand Rapids, Michigan  -- written agreement with the Federal Reserve Bank of Chicago.
-Announced, January 27, 2009 

Term Auction Facility  -- TAF auction in the amount of $150 billion in 84-day credit on January 26, 2009.
-Announced, January 26, 2009 

Bank of America Corporation, Charlotte, North Carolina  -- report to Congress, required by the Emergency Economic Stabilization Act, regarding authorization to provide residual financing to Bank of America Corporation relating to a designated asset pool.
-Approved, January 22, 2009  (AC)

Liquidity Facility Exemptions  -- limited exemptions from sections 23A and 23B of the Federal Reserve Act, Regulation W, and the leverage and risk-based capital rules for purchases of asset-backed commercial paper in connection with the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF), subject to safety-and-soundness conditions.
-Approved, January 27, 2009 

Regulation D (Reserve Requirements of Depository Institutions)  -- publication for comment of amendments authorizing the establishment of�limited-purpose accounts, known as "excess balance accounts," at Federal Reserve Banks.
-Approved, January 25, 2009 

Regulation W (Transactions Between Member Banks and Their Affiliates)  -- exemption until October 30, 2009 (unless extended by the Board), from section 23A of the Federal Reserve Act to allow all insured depository institutions to provide liquidity to their affiliates for assets typically funded in the tri-party repurchase agreement market, subject to safety-and-soundness conditions.
-Approved, January 27, 2009 

Federal Reserve Bank of New York  -- appointment of William C. Dudley as president, effective January 27, 2009.
-Approved, January 26, 2009 

Reserve Bank Directors  -- appointment of chairmen and deputy chairmen of the twelve Federal Reserve Banks for 2009.
-Announced, January 27, 2009