Board Actions

Actions taken during the week ending October 24, 2020

Bank Holding Companies

Bangor Bancorp, MHC, Bangor, Maine -- to acquire Damariscotta Bankshares, Inc., Damariscotta, and thereby indirectly acquire Damariscotta Bank & Trust Co.
-Approved, October 21, 2020

Personnel

Division of Consumer and Community Affairs -- appointment of Joseph Firschein as associate director.
-Announced, October 22, 2020

Division of Supervision and Regulation -- appointment of Dana Burnett as assistant director.
-Approved, October 19, 2020

Regulations and Policies

Bank Secrecy Act (BSA) -- joint notice of proposed rulemaking with request for comment to amend the recordkeeping and travel rule regulations under the BSA.
-Approved, October 19, 2020

Net Stable Funding Ratio (NSFR) -- (1) interagency final rule to implement a minimum NSFR requirement for large banking organizations and (2) proposal to extend with revision the Reporting, Recordkeeping, and Disclosure Requirements Associated with Liquidity Risk Measurement Standards.
-Approved, October 20, 2020

Regulatory Capital Rule -- (1) interagency final rule to limit the interconnectedness and reduce the impact from failure of the largest banking organizations, (2) revisions to the Total Loss-Absorbing Capacity (TLAC) requirements, and (3) final Board review to extend with revision the Consolidated Financial Statements for Holding Companies (FR Y-9C reports) and Capital Assessments and Stress Testing Reports (FR Y-14A/Q/M).
-Approved, October 19, 2020

Supervisory Guidance -- publication for comment of an interagency notice of proposed rulemaking to codify the September 2018 Interagency Statement Clarifying the Role of Supervisory Guidance.
-Approved, October 19, 2020

Enforcement

First Savings Bank, Jeffersonville, Indiana -- consent cease-and-desist order against Weldon Riggs, an institution-affiliated party.
-Announced, October 20, 2020

The Goldman Sachs Group, Inc., New York, New York -- issuance of a consent cease-and-desist order and assessment of a civil money penalty for unsafe and unsound practices in connection with certain bond offerings for a state-owned Malaysian development company.
-Approved, October 19, 2020