Board Actions

Actions taken during the week ending August 29, 2020

Bank Holding Companies

First Illinois Bancorp, Inc., East St. Louis, Illinois -- to acquire Rockwood Bancshares, Inc., Eureka, Missouri, and indirectly acquire Rockwood Bank.
-Approved, August 25, 2020

Forms

Forms -- initial Board review to extend with revision the Reports of Deposits (FR 2900, FR 2910a, FR 2915, and FR 2930).
-Approved, August 26, 2020

Personnel

Office of Inspector General -- appointment of Cynthia Gray as assistant inspector general.
-Approved, August 21, 2020
(A/C)

Regulations and Policies

Community Bank Leverage Ratio -- interagency final rule to provide temporary relief to community banking organizations, consistent with the CARES Act; and final Board review to extend with revision the Financial Statements for Holding Companies (FR Y-9C reports).
-Approved, August 25, 2020

Current Expected Credit Loss (CECL) Methodology -- (1) interagency final rule to provide banking organizations that adopt the CECL methodology during 2020 the option to delay CECL's impact on regulatory capital, and (2) final Board review to extend with revision the Financial Statements for Holding Companies (FR Y-9) and the Capital Assessments and Stress Testing (FR Y-14A/Q/M) reports.
-Approved, August 25, 2020

Regulatory Capital Rule and Enhanced Prudential Standards (Regulations Q and YY) -- interagency final rule to revise the definition of "eligible retained income" for purposes of (1) the agencies' regulatory capital rules and (2) the Board's total loss-absorbing capacity (TLAC) rule; and final Board review to extend with revision the Financial Statements for Holding Companies (FR Y-9C reports).
-Approved, August 25, 2020