Release dates |     Full version (300 KB PDF)Board Actions |     Actions under delegated authority        Applications and reports received:Boston | New York | Philadelphia   | Cleveland | Richmond   | AtlantaChicago | St. Louis | Minneapolis   | Kansas City | Dallas   | San Francisco

# Board Actions

## Actions taken during the week ending April 7, 2012

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Forms            Forms -- final Board review (1) to extend without revision the Microeconomic Survey (FR 3051), Recordkeeping Requirements Associated with the Real Estate Appraisal Standards for Federally Related Transactions Pursuant to Regulations H and Y (FR H-4), Request for Proposal (RFP), and Request for Price Quotations (RFPQ); and (2) to pretest and execute the 2013 Survey of Consumer Finances (FR 3059).            -Approved, April 4, 2012            Personnel            Division of Information Technology -- appointment of Sharon Mowry as chief information officer and director and Maureen Hannan as senior adviser.            -Approved, April 6, 2012                        Management Division -- appointment of Charles O'Malley as senior adviser, Curtis Eldridge as assistant director and chief of law enforcement, and Reginald V. Roach as assistant director.            -Approved, April 4, 2012            Regulations and Policies            Overnight Overdraft Policy -- effective date of July 12, 2012, for two modifications to the Board's policy: (1) a change in the reference rate for computing charges for overnight overdrafts from the effective federal funds rate to the primary credit rate and (2) a multiday charge on overnight overdrafts incurred immediately before a weekend or holiday.            -Announced, April 5, 2012                        Regulation Y (Bank Holding Companies and Change in Bank Control) -- publication for comment of an amended proposed rule clarifying "financial activities" for purposes of determining whether a company is "predominantly engaged in financial activities," in accordance with the Dodd-Frank Act.            -Approved, April 2, 2012                        Regulations D (Reserve Requirements of Depository Institutions) and J (Collection of Checks and Other Items by Federal Reserve Banks and Funds Transfers through Fedwire) -- final amendments to simplify the administration of reserve requirements and reduce administrative and operational costs for depository institutions and Federal Reserve Banks.            -Approved, April 4, 2012                        Rental of Residential Properties Acquired in Foreclosure -- issuance of a policy statement on rental of residential other real estate owned properties by banking organizations supervised by the Federal Reserve.            -Announced, April 5, 2012            Enforcement            Banco Espirito Santo S.A., Lisbon, Portugal, and Espirito Santo e Comercial de Lisboa, Inc., Newark, New Jersey -- issuance of a consent cease and desist order and order of assessment of a civil money penalty.            -Announced, April 2, 2012                        First Bancshares, Inc., of Cold Spring, Cold Spring, Minnesota -- written agreement dated August 16, 2010, terminated March 29, 2012.            -Announced, April 3, 2012                        Morgan Stanley, New York, New York -- issuance of a consent order to address a pattern of misconduct in residential mortgage loan servicing and foreclosure processing at its subsidiary, Saxon Mortgage Services, Inc., Fort Worth, Texas.            -Announced, April 3, 2012            
Release dates |     Full version (300 KB PDF)Board Actions |     Actions under delegated authority    Applications and reports received: