Board Actions

Actions taken during the week ending November 23, 2019

Testimony and Statements

Minority Depository Institutions -- statement by Arthur Lindo, deputy director, Division of Supervision and Regulation, before the House Financial Services Subcommittee on Consumer Protection and Financial Institutions.
-Published, November 20, 2019

Bank Holding Companies

BB&T Corporation, Winston-Salem, North Carolina -- to merge with SunTrust Banks, Inc., Atlanta, Georgia, and thereby indirectly acquire SunTrust Bank.
-Approved, November 19, 2019

Forms

Forms -- final Board review to extend with revision the Report of Selected Balance Sheet Items for Discount Window Borrowers (FR 2046) and Interchange Transaction Fees Survey (FR 3064).
-Approved, November 22, 2019

Regulations and Policies

Derivatives Contracts -- final interagency rule to implement a new approach for calculating the exposure amount of derivative contracts under the agencies' regulatory capital rules.
-Approved, November 18, 2019

Supervision and Regulation

BB&T Corporation, Winston-Salem, North Carolina -- updated capital plan in connection with BB&T Corporation's planned merger with SunTrust Banks, Inc., Atlanta, Georgia.
-No Objection, November 19, 2019

Enforcement

Banco Espirito Santo, S.A., Lisbon, Portugal; and Espirito Santo e Comercial de Lisboa, Inc., Newark, New Jersey -- cease-and-desist order dated April 2, 2012, terminated November 13, 2019.
-Announced, November 19, 2019

East West Bank, Pasadena, California -- issuance of a consent order of prohibition against Thang Nguyen, a former institution-affiliated party.
-Announced, November 19, 2019

Markesan State Bank, Markesan, Wisconsin -- written agreement dated September 8, 2017, terminated November 6, 2019.
-Announced, November 19, 2019

SunTrust Bank, Atlanta, Georgia -- issuance of a consent cease-and-desist and restitution order.
-Approved, November 19, 2019