Board Actions

Actions taken during the week ending December 21, 2013

Bank Holding Companies

Investors Bancorp, MHC, Short Hills, New Jersey, and Investors Bancorp, Inc. -- to acquire Gateway Community Financial, MHC, Sewell, and Gateway Community Financial Corporation, and thereby indirectly acquire GCF Bank, Sewell.
-Approved, December 20, 2013

Regulations and Policies

Diversity and Inclusion -- extension to February 7, 2014, of the comment period on a proposed interagency policy statement regarding standards for assessing the diversity policies and practices of entities regulated by the agencies, in accordance with the Dodd-Frank Act.
-Announced, December 19, 2013

Income Tax Allocation Agreements -- publication for comment of proposed addendum to the interagency policy statement on income tax allocation in a holding company structure.
-Approved, December 7, 2013
(A/C)

Regulation A (Extensions of Credit by Federal Reserve Banks) -- publication for comment of proposed amendments to reflect changes made by the Dodd-Frank Act to the Federal Reserve's emergency lending authority in the Federal Reserve Act.
-Approved, December 20, 2013

Regulation KK (Margin and Capital Requirements for Covered Swap Entities) -- final rule on the treatment of uninsured U.S. branches and agencies of foreign banks under the swaps push-out provision of the Dodd-Frank Act.
-Approved, December 20, 2013

Volcker Rule -- issuance of interagency FAQs (frequently asked questions) to provide guidance to banking entities regarding investments in "covered funds" and whether collateralized debt obligations backed by trust preferred securities could be determined to be covered funds under the final rules.
-Announced, December 19, 2013

Savings and Loan Holding Companies

Alamogordo Financial Corporation, Alamogordo, New Mexico -- to conduct, under Regulation MM, a minority stock issuance to the Bank'34 Employee Stock Ownership Plan (ESOP), and waiver of the restriction against lending funds to the ESOP to purchase the shares.
-Approved, December 20, 2013