Board Actions

Actions taken during the week ending May 29, 2021

Bank Holding Companies

Huntington Bancshares Incorporated, Columbus, Ohio -- to acquire TCF Financial Corporation, Detroit, Michigan, and thereby indirectly acquire TCF National Bank, Sioux Falls, South Dakota.
-Approved, May 24, 2021

Regulations and Policies

Payment System Risk Policy -- notice and request for comment on proposed changes to expand access to collateralized intraday credit, clarify access to uncollateralized credit, and support the deployment of the FedNow Service.
-Approved, May 26, 2021

Regulation D (Reserve Requirements of Depository Institutions) -- final rule to eliminate references to interest rates on required and excess reserves and replace them with a single reference to an "interest on reserve balances" rate, simplify the formula used to calculate the amount of interest to be paid on such balances, and make other conforming changes.
-Approved, May 28, 2021

Regulation J (Collection of Checks and Other Items by Federal Reserve Banks and Fund Transfers Through Fedwire) -- notice of proposed rulemaking and request for comment on amendments to govern funds transfers through the Federal Reserve Banks' new FedNow Service and make other clarifying and technical changes.
-Approved, May 28, 2021