Board Actions

The PNC Financial Services Group, Inc., Pittsburgh, Pennsylvania -- to acquire BBVA USA Bancshares, Inc., Houston, Texas, and thereby indirectly acquire its subsidiary state member bank, BBVA USA, Birmingham, Alabama, and for PNC Financial's subsidiary, PNC Bancorp, Inc., Wilmington, Delaware, to acquire BBVA USA.
-Approved, May 14, 2021

Forms -- final Board review to extend with revision the Financial Statements for Holding Companies (FR Y-9 reports), Financial Statements of Foreign Subsidiaries of U.S. Banking Organizations (FR 2314/2314S), Financial Statements of U.S. Nonbank Subsidiaries Held by Foreign Banking Organizations (FR Y-7N/7NS/7Q), and Financial Statements of U.S. Nonbank Subsidiaries of U.S. Holding Companies (FR Y-11/11S).
-Approved, May 14, 2021

Regulation O (Loans to Executive Officers, Directors, and Principal Shareholders of Member Banks) -- interim final rule and request for comment to extend a rule change to bolster the effectiveness of the Small Business Administration's Paycheck Protection Program (PPP).
-Approved, May 7, 2021
(A/C)