This was a notational vote.
By notational vote, the Board approved an Interagency Policy Statement on Allowances for Credit Losses.
A notational vote is an action by the Board of Directors taken without a meeting. The Executive Secretary distributes written materials to all members of the Board. Board members then vote or indicate their abstention in writing. The vote of the majority of the members of the Board on each item of business is the act of the Board, provided that a majority of members then in office vote or indicate their abstention on such item.
The following items were notationally approved:
- Memorandum
- Interagency Policy Statement on Allowances for Credit Losses (Revised April 2023)
Votes
| Action | For | Against | Abstention |
|---|---|---|---|
| Interagency Policy Statement on Allowances for Credit Losses | Chairman Gruenberg Vice Chairman Hill Director McKernan Director Chopra Director Hsu | None | None |