Board Actions

Actions taken during the week ending November 29, 2014

Banking Supervision & Regulation

General Electric Capital Corporation (GECC), Norwalk, Connecticut -- publication for comment of proposed order to apply enhanced prudential standards and reporting requirements to GECC, a nonbank financial company that the Financial Stability Oversight Council has designated for Board supervision.
-Approved, November 24, 2014

Resolution Plans -- (1) interagency guidance to Wells Fargo & Company on the resolution planning requirement of the Dodd-Frank Act; (2) change of filing date for certain foreign banking organizations to submit resolution plans, beginning in 2015; and (3) exemption of 61 foreign banking organizations from having to consider the stress scenario requirements in the 2014 resolution plans.
-Approved, November 24, 2014

Forms

Forms -- final Board review to extend without revision the Interagency Bank Merger Application Form (FR 2070), Interagency Notice of Change in Bank Control (FR 2081a), Interagency Notice of Change in Director or Senior Executive Officer (FR 2081b), and Interagency Biographical and Financial Report (FR 2081c).
-Approved, November 24, 2014

Forms -- initial Board review to extend with revision the Complex Institution Liquidity Monitoring Report (FR 2052a) and Liquidity Monitoring Report (FR 2052b).
-Proposed, November 25, 2014

Forms -- final Board review to extend with revision the Government-Administered, General-Use Prepaid Card Surveys: Issuer survey (FR 3063a) and Government survey (FR 3063b).
-Approved, November 26, 2014

Monetary and Financial Policy

Term Deposit Facility -- fixed-rate offering of seven-day term deposits with an early withdrawal feature and a maximum tender amount of $20 billion on December 1, 2014.
-Announced, November 26, 2014

Personnel

Office of Board Members -- appointment of Jennifer Gallagher as special assistant to the Board for Congressional Liaison.
-Approved, October 31, 2014
(A/C)

Regulations and Policies

Payment System Risk Policy -- to modify the posting rules for automated clearinghouse and commercial check transactions, and to make associated changes to Regulation J.
-Approved, November 26, 2014

Enforcement

Pacific Mercantile Bancorp, Costa Mesa, California, and Pacific Mercantile Bank -- written agreement issued August 31, 2010, terminated November 20, 2014.
-Announced, November 25, 2014