Board Actions

Actions taken during the week ending December 17, 2011

Testimony and Statements

European Economic Situation -- statement by Steven B. Kamin, director, division of International Finance, before a subcommittee of the House Committee on Oversight and Government Reform on the economic situation in Europe and recent actions taken by the Federal Reserve in response to this situation.
-Published, December 16, 2011

Foreclosure Review Process -- statement by Scott G. Alvarez, general counsel, on the Federal Reserve's progress in implementing the foreclosure review process and related enforcement actions, submitted for the record to a subcommittee of the Senate Committee on Banking, Housing, and Urban Affairs for a hearing on helping homeowners harmed by foreclosures.
-Published, December 13, 2011

Bank Holding Companies

Banco do Brasil, S.A., Brasilia, Brazil, and Caixa de Previdencia dos Funcionarios do Banco do Brasil, Rio de Janeiro -- to acquire EuroBank, Coral Gables, Florida.
-Approved, December 15, 2011

Currency

Federal Reserve Notes -- new currency budget for 2012.
-Approved, December 12, 2011

Forms

Forms -- initial Board review to extend without revision the Recordkeeping Requirements of Regulation H and Regulation K Associated with Bank Secrecy Act Compliance Programs.
-Proposed, December 14, 2011

Forms -- final Board review to implement (1) two government-administered, general-use prepaid card surveys: Issuer survey (FR 3063a) and Government survey (FR 3063b), and (2) two interchange transaction fees surveys: Debit card issuer survey (FR 3064a) and Payment card network survey (FR 3064b).
-Approved, December 14, 2011

Enforcement

Alliance Financial Services, Inc., St. Paul, Minnesota -- written agreement with the Federal Reserve Bank of Minneapolis.
-Announced, December 13, 2011

Bank of Nova Scotia, Toronto, Canada -- issuance of a consent order of prohibition against Tyrone Green, a former precious metals trader at the New York, New York, agency of the bank.
-Announced, December 12, 2011

Patriot Bancshares, Inc., Houston, Texas, and Patriot Holdings Nevada, Inc., Reno, Nevada -- written agreement with the Federal Reserve Bank of Dallas and the Banking Commissioner of the Texas Department of Banking.
-Announced, December 13, 2011