Board Actions

Term Asset-Backed Securities Loan Facility (TALF) -- statement by William R. Nelson, Deputy Director, Division of Monetary Affairs, before the Congressional Oversight Panel for the Troubled Asset Relief Program on the establishment and operation of the TALF, the effects of the program, and steps taken to control risk.
-Published, March 4, 2011

Forms -- final Board review (1) to extend without revision the Annual Daylight Overdraft Capital Report for U.S. Branches and Agencies of Foreign Banks (FR 2225), 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, 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).
-Approved, March 4, 2011

Regulation CC (Availability of Funds and Collection of Checks) -- publication for comment of amendments to encourage banks to clear and return checks electronically, add provisions that govern electronic items cleared through the check-collection system, and shorten the "exception" hold periods on deposited funds.
-Approved, March 1, 2011

Regulations V (Fair Credit Reporting) and B (Equal Credit Opportunity) -- publication for comment of interagency amendments to require disclosure of credit scores and related information to consumers in risk-based pricing notices and adverse action notices if a credit score is used in setting the credit terms or taking adverse action, in accordance with the Dodd-Frank Act.
-Approved, February 28, 2011

Federal Reserve Bank of San Francisco -- appointment of John C. Williams as president, effective March 1, 2011.
-Approved, February 25, 2011
(A/C)

Bridgeview Bancorp, Inc., Bridgeview, Illinois -- written agreement with the Federal Reserve Bank of Chicago.
-Announced, March 1, 2011

Outsource Holdings, Inc., Lubbock, Texas -- written agreement with the Federal Reserve Bank of Dallas.
-Announced, March 3, 2011