Board Actions

Actions taken during the week ending July 9, 2011

Testimony and Statements

Monetary Policy -- statement by Chairman Bernanke before the House Committee on Financial Services on July 13 and the Senate Committee on Banking, Housing, and Urban Affairs on July 14, 2011, on the semiannual monetary policy report to the Congress.
-Discussed, July 7, 2011

Mortgage Servicing -- statement by the Board submitted for the record in connection with a hearing on July 7, 2011, by two subcommittees of the House Committee on Financial Services on the role of federal regulators in addressing mortgage-servicing issues and the development of new national mortgage-servicing standards.
-Published, July 7, 2011

Forms

Forms -- initial Board review to extend without revision the Recordkeeping, Reporting, and Disclosure Requirements in Connection with Regulation BB (Community Reinvestment Act).
-Proposed, July 8, 2011

Monetary and Financial Policy

Monetary Policy -- semiannual monetary policy report to the Congress.
-Authorized, July 5, 2011

Personnel

Division of Research and Statistics -- appointment of David W. Wilcox as director, effective October 1, 2011.
-Approved, July 6, 2011

Regulations and Policies

Counterparty Credit Risk Management -- issuance of interagency supervisory guidance on counterparty credit risk management.
-Announced, July 5, 2011

Enforcement

Bank of the Commonwealth, Norfolk, Virginia -- issuance of a prompt corrective action directive with the consent of the bank.
-Announced, July 7, 2011

Belt Valley Bank, Belt, Montana -- written agreement with the Federal Reserve Bank of Minneapolis and the Montana Division of Banking and Financial Institutions.
-Announced, July 5, 2011

First National Bank Group, Inc., Edinburg, Texas -- written agreement with the Federal Reserve Bank of Dallas.
-Announced, July 5, 2011

FirstFed Bancorp, Inc. Employee Stock Ownership Plan, Bessemer, Alabama, and FirstFed Bancorp, Inc. -- written agreement with the Federal Reserve Bank of Atlanta.
-Announced, July 7, 2011

JPMorgan Chase & Co., New York, New York -- written agreement with the Federal Reserve Bank of New York.
-Announced, July 7, 2011

PGB Holdings, Inc., Chicago, Illinois, and Pacific Global Bank -- written agreement with the Federal Reserve Bank of Chicago and the Illinois Department of Financial and Professional Regulation, Division of Banking.
-Announced, July 7, 2011

Virginia Community Bankshares, Inc., Louisa, Virginia, and Virginia Community Bank -- written agreement with the Federal Reserve Bank of Richmond and the State Corporation Commission Bureau of Financial Institutions.
-Announced, July 5, 2011