Board Actions

Actions taken during the week ending August 14, 2010

Bank Holding Companies

Morgan Stanley & Co., New York, New York -- to place certain shares of Morgan Stanley into a custodial account pending action by the Board on the application of China Investment Corporation, Beijing, Peoples Republic of China, a sovereign wealth fund, to acquire voting shares of Morgan Stanley.
-Approved, August 10, 2010

Forms

Forms -- initial Board review to extend without revision the Compensation and Salary Surveys (FR 29a, b).
-Proposed, August 10, 2010

Regulations and Policies

Regulation E (Electronic Fund Transfers) -- interim final rule with request for comment to implement legislation modifying the effective date of certain disclosure requirements applicable to gift cards under the Credit Card Accountability Responsibility and Disclosure Act.
-Approved, August 10, 2010

Risk-Based Capital Guidelines -- interagency advance notice of proposed rulemaking requesting comment on alternatives to the use of credit ratings in the guidelines in order to comply with the Dodd-Frank Wall Street Reform and Consumer Protection Act.
-Approved, August 9, 2010

Enforcement

Brand Group Holdings, Inc., Lawrenceville, Georgia, and The Brand Banking Company -- written agreement with the Federal Reserve Bank of Atlanta and the Banking Commissioner of the State of Georgia.
-Announced, August 12, 2010

Paramount Bank, Farmington Hills, Michigan -- issuance of a prompt corrective action directive with the consent of the bank.
-Announced, August 12, 2010

Sonoma Valley Bancorp, Sonoma, California -- written agreement with the Federal Reserve Bank of San Francisco.
-Announced, August 9, 2010