Board Actions

Actions taken during the week ending July 23, 2016

Extensions of Time

Regulation YY -- requests by (1) Societe Generale to delay the requirement to establish a U.S. intermediate holding company (IHC) for six months; and (2) Banco Bilbao Vizcaya Argentaria for a six-month extension of time to transfer five U.S. subsidiaries to its IHC.
-Granted, July 5, 2016
(A/C)

Forms

Forms -- initial Board review to extend with revision the Capital Assessments and Stress Testing information collection (FR Y-14A/Q/M).
-Proposed, July 20, 2016

Regulations and Policies

Regulations Z (Truth in Lending) and M (Consumer Leasing) -- publication for comment of interagency amendments to official staff interpretations to clarify the method used to determine thresholds for exempting (1) certain consumer credit and lease transactions from the Truth in Lending Act and Consumer Leasing Act, respectively, and (2) certain small loans from the real estate appraisal requirements for higher-priced mortgages, both based on changes in the consumer price index.
-Approved, July 18, 2016

Enforcement

UBS AG, Zurich Switzerland, and Barclays Bank, PLC, London, England -- issuance of a consent order of prohibition against Matthew Gardiner, a former institution-affiliated party of UBS AG and Barclays Bank, PLC.
-Announced, July 19, 2016