Federal Reserve Board: H.2 Release for Week Ending October 17, 2015

The Federal Reserve Board (Board) publishes a weekly digest of its activities on its website. The digest is called the H.2 Release and is published every Thursday. The release for the week ending October 17, 2015, is below.

H.2 Release–Actions of the Board, Its Staff, and the Federal Reserve Banks; Applications and Reports Received

Category Action Taken
Bank Holding Companies PacWest Bancorp, Los Angeles, California — commenter’s request for reconsideration of the Board’s approval of the application by PacWest Bancorp to merge with Square 1 Financial, Inc., Durham, North Carolina, and thereby indirectly acquire Square 1 Bank.
-Denied, October 14, 2015
Reserve Bank Operations Federal Reserve Bank of New York — authorization to provide accounts and services to the National Securities Clearing Corporation and Fixed Income Clearing Corporation, in accordance with the Dodd-Frank Act and Regulation HH.
-Approved, October 14, 2015
Savings and Loan Holding Companies Synchrony Financial, Stamford, Connecticut — to operate as a publicly owned savings and loan holding company and retain control of its subsidiary federal savings association, Synchrony Bank, Draper, Utah, and to continue to engage in certain business activities through its control of non-savings association subsidiaries.
-Approved, October 14, 2015
Enforcement Crédit Agricole S.A., Paris, France, and Crédit Agricole Corporate and Investment Bank — issuance of a consent cease and desist order and assessment of a civil money penalty.
-Approved, October 16, 2015

Regions Bank, Birmingham, Alabama — issuance of a consent order of prohibition and assessment of a civil money penalty against Thomas A. Neely Jr., a former executive vice president and institution-affiliated party.
-Approved, October 14, 2015