Board Actions

Caja de Ahorros de Valencia, Castellón y Alicante, Bancaja, Valencia, Spain, and Banco Financiero y de Ahorros, S.A., Madrid -- to acquire Caja de Ahorros y Monte de Piedad de Madrid, Madrid, and its subsidiary bank, City National Bank of Florida, Miami, Florida; and temporary exemption to engage in nonbanking activities in the United States as a result of the acquisition through an integration transaction involving seven savings banks in Spain.
-Approved, December 16, 2010

Forms -- final Board review (1) to extend without revision the Report of Net Debit Cap (FR 2226) and (2) to extend with clarification the Statement of Purpose for an Extension of Credit by a Creditor (FR T-4), Statement of Purpose for an Extension of Credit Secured by Margin Stock (FR U-1), Statement of Purpose for an Extension of Credit Secured by Margin Stock by a Person Subject to Registration Under Regulation U (FR G-3), Registration Statement for Persons Who Extend Credit Secured by Margin Stock (Other Than Banks, Brokers, or Dealers) (FR G-1), Deregistration Statement for Persons Registered Pursuant to Regulation U (FR G-2), and Annual Report (FR G-4).
-Approved, December 16, 2010

Forms -- initial Board review (1) to extend without revision the Annual Daylight Overdraft Capital Report for U.S. Branches and Agencies of Foreign Banks (FR 2225), Financial Statements for a Bank Holding Company Subsidiary Engaged in Bank-Ineligible Securities Underwriting and Dealing (FR Y-20), International Applications and Prior Notifications Under Subparts A and C of Regulation K (FR K-1), International Applications and Prior Notifications Under Subpart B of Regulation K (FR K-2), and Application for a Foreign Organization to Acquire a U.S. Bank or Bank Holding Company (FR Y-3F); (2) to extend with revision the Consumer Satisfaction Questionnaire, the Federal Reserve Consumer Help (FRCH) - Consumer Survey, and Consumer Online Complaint Form (FR 1379a, b, and c) and Bank Holding Company Application and Notification Forms (FR Y-3, Y-3N, and Y-4); and (3) to implement the Payments Systems Surveys (FR 3054a, b, c, and d).
-Proposed, December 16, 2010

Division of Information Technology -- appointment of Kofi A. Sapong and Lisa M. Bell as deputy associate directors; William K. Dennison, Sheryl L. Warren, Kassandra A. Quimby, and Marietta Murphy as assistant directors; and Pokyung Kim as senior adviser.
-Announced, December 16, 2010

Division of International Finance -- appointment of Beth Anne Wilson as assistant director, Jane Haltmaier as senior adviser, and Sally M. Davies as adviser.
-Announced, December 15, 2010

Management Division -- appointment of Donald A. Spicer as acting director and H. Fay Peters as senior adviser.
-Announced, December 16, 2010

Market Risk Capital Rule -- publication for comment of interagency amendments revising the market risk capital rule.
-Announced, December 15, 2010

Regulation BB (Community Reinvestment) -- final interagency rule revising the term "community development" in the Community Reinvestment Act regulations to include loans, investments, and services that benefit certain areas designated by the Department of Housing and Urban Development under the Neighborhood Stabilization Program.
-Announced, December 15, 2010

Regulation II (Debit Card Interchange Fees and Routing) -- publication for comment of proposed rule that would establish debit card interchange fee standards and prohibit network-exclusivity arrangements and routing restrictions.
-Approved, December 16, 2010

Regulation Z (Truth in Lending) and Regulation M (Consumer Leasing) -- publication for comment of amendments to implement a provision of the Dodd-Frank Act that increases the dollar thresholds for exempt consumer credit transactions and consumer leases from $25,000 to $50,000, with future annual increases to reflect any increase in the CPI.
-Announced, December 13, 2010

Risk-Based Capital -- publication for comment of interagency amendments revising (1) the advanced approaches rule for consistency with certain provisions of the Dodd-Frank Act and (2) the general risk-based capital rules to provide limited flexibility, consistent with the act, for recognizing the relative risk of certain assets generally not held by depository institutions.
-Announced, December 15, 2010

The Park Avenue Bank, Valdosta, Georgia -- issuance of a prompt corrective action directive with the consent of the bank.
-Announced, December 16, 2010

Weststar Financial Services Corporation, Asheville, North Carolina -- written agreement with the Federal Reserve Bank of Richmond.
-Announced, December 14, 2010