On July 7, the Board of Governors announced the execution of an enforcement action against a Boston-based bank holding company over deficiencies identified by the Federal Reserve Bank of Boston concerning the company’s governance, risk management, capital planning, and liquidity risk management operations. Pursuant to the Agreement, within 60 days of its execution the company must submit written plans detailing their efforts to strengthen board oversight of the company’s management and operations, bolster the risk management program, improve capital planning to match the company’s size and complexity, and strengthen liquidity risk management. No civil money penalty was imposed on the company.