Board Actions

Department of Justice's Operation Choke Point -- statement by Scott G. Alvarez, general counsel, before a subcommittee of the House Committee on Financial Services on the legal framework governing the establishment and maintenance of customer accounts, the Federal Reserve's regulatory expectations for supervised banking organizations, and aspects of examination and enforcement in this area.
-Published, July 15, 2014

Monetary Policy -- statement by Chair Yellen before the Senate Committee on Banking, Housing, and Urban Affairs on the semiannual monetary policy report to the Congress on July 15 and to the House Committee on Financial Services on July 16, 2014.
-Published, July 15, 2014

Old National Bancorp, Evansville, Indiana -- to acquire United Bancorp, Inc., Ann Arbor, Michigan, and thereby indirectly acquire United Bank & Trust.
-Approved, July 13, 2014

Forms -- initial Board review (1) to extend with revision the Application for Employment with the Board of Governors of the Federal Reserve System (FR 28) and (2) to extend without revision the Compensation and Salary Surveys (FR 29a and FR 29b), Ongoing Intermittent Survey of Households (FR 3016), and Recordkeeping Requirements Associated with the Real Estate Lending Standards Regulation for State Member Banks (Reg H-5).
-Proposed, July 16, 2014

Division of Research and Statistics -- appointment of Diana Hancock as associate director; Elizabeth Kiser, Stacey Tevlin, and John Stevens as deputy associate directors; Kristin Vajs, Erik Heitfield, John Sabelhaus, Shane Sherlund, Paul Smith, Stephanie Aaronson, Glenn Follette, and John Roberts as assistant directors; Michael Cringoli, Wayne Passmore, and Jeremy Rudd as senior advisers; and Eric Engstrom and Patrick McCabe as advisers, effective July 13, 2014.
-Announced, July 18, 2014

Prepaid Cards -- annual report to Congress on government-administered, general-use prepaid cards, in accordance with the Dodd-Frank Act.
-Approved, July 17, 2014

Regulation Q (Capital Adequacy of Bank Holding Companies, Savings and Loan Holding Companies, and State Member Banks) -- final interagency rule to revise the definition of "eligible guarantee" in the advanced approaches risk-based capital rule.
-Approved, July 14, 2014