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In addition , it would be consistent with the requirements of the BHC Act and the Board 's Regulation Y for CMB 's parent financial holding company to notify the Board within 30 days after it has acquired an interest in Company through CMB , in accordance with section 225.87 ( a ) of Regulation Y. Letter stating that Board staff would not recommend that the Board initiate a control proceeding under the Bank Holding Company Act and Regulation Y if a company continues with a community development initiative in which the company makes investments in , and establishes certain business relationships with , minority-owned and women-owned banks . As mentioned in Section 7.3 , the US initiated a reverse repo pilot program at the end of March 2006 . After the departure of Samuel Kirkpatrick as the University ’ s 19th president , the Board initiated a process to select the next president . Recently , however , the Office initiated a program to process and examine all new reexamination proceedings in one Central Reexamination Unit ( the CRU ) . Proposal Presentation - At any time , the Board may consider either its own proposal , a proposal from the Superintendent , or a proposal from an individual Board member relative to the Board initiating a charter school . To that end , staff recommends the Board initiate a broad spectrum of support for such a hydrogen fueling infrastructure and issue an RFP for the development of a hydrogen fueling station template .