Federal Reserve Board: H.2 Release for Week Ending March 5, 2016; GAO Investigates Regulatory Capture at the NY Fed Bank

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 March 5, 2016, is below.

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

Category Action Taken
Forms Forms — final Board review to implement the Application for Membership for the Community Advisory Council (FR 1401).

-Approved, February 29, 2016





Personnel Division of Reserve Bank Operations and Payment Systems — appointment of Travis Nesmith and Marta Chaffee as assistant directors and David Mills as deputy associate director, and reassignment of Jeff Walker.

-Announced, March 1, 2016

Regulations and Policies Regulation YY (Enhanced Prudential Standards) — publication for comment of proposed rule to establish single-counterparty credit limits for large U.S. bank holding companies and foreign banking organizations.

-Approved, March 4, 2016

Enforcement ColoEast Bankshares, Inc., Lamar, Colorado — written agreement issued June 6, 2012, terminated February 29, 2016.

-Announced, March 3, 2016


Community First, Inc., Columbia, Tennessee — written agreement issued April 19, 2012, terminated February 29, 2016.

-Announced, March 3, 2016


CSRA Bank Corp., Wrens, Georgia — written agreement issued August 19, 2010, terminated January 20, 2016.

-Announced, March 1, 2016


FMB Equibanc, Inc., Statesboro, Georgia — written agreement issued April 23, 2010, terminated February 25, 2016.

-Announced, March 1, 2016


Industrial Bank of Korea, Seoul, Korea, and its New York, New York Branch — written agreement with the Federal Reserve Bank of New York and the New York State Department of Financial Services.

-Announced, March 1, 2016


Valley Bancorp, Inc., Brighton, Colorado — written agreement issued August 27, 2009, terminated February 26, 2016.

-Announced, March 3, 2016


General Accountability Office to Investigate Regulatory Capture at the New York Federal Reserve Bank

(March 4, 2016) According to Dow Jones Newswires, Representatives Maxine Waters (D-Calif.) and Al Green (D-Tx.), both of the House Financial Services Committee, requested that the General Accountability Office, a legislative branch agency, to investigate regulatory capture at the New York Federal Reserve Bank.