Board Actions

Actions taken during the week ending November 18, 2017

Bank Holding Companies

South State Corporation, Columbia, South Carolina -- to merge with Park Sterling Corporation, Charlotte, North Carolina, and thereby indirectly acquire Park Sterling Bank.
-Approved, November 14, 2017

Forms

Forms -- initial Board review to extend without revision the Disclosure Requirements Associated with CFPB's Regulation DD (Truth in Savings Act).
-Proposed, November 15, 2017

Monetary and Financial Policy

Term Deposit Facility (TDF) -- to authorize adjustments to the terms and conditions of individual TDF test operations that raise significant technical or operational issues, and to consolidate prior authorizations relating to proposed TDF testing.
-Approved, November 15, 2017

Regulations and Policies

Regulatory Capital Rules -- interagency final rule to extend the current transition provisions in the Board's capital rules for certain regulatory capital deductions and other requirements for banking organizations that are not subject to the advanced approaches capital rules.
-Approved, November 9, 2017
(A/C)

Rules of Organization and Rules Regarding Delegation of Authority -- amendments to the Board's quorum rule to enhance efficiency while retaining the Board's ability to function in an emergency.
-Approved, October 25, 2017
(A/C)

Enforcement

Maple Leaf Financial, Inc., Newbury, Ohio -- cease-and-desist order dated March 27, 2009, and amended cease-and-desist order dated July 8, 2010, both issued by the Office of Thrift Supervision, terminated on November 8, 2017.
-Announced, November 14, 2017