| For immediate release |
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The Federal Reserve Board on Monday announced its approval of a final rule that modifies Regulation Y to allow bank holding companies engaged in permissible derivatives activities to transfer title to commodities underlying derivative contracts on an instantaneous, pass-through basis. The Board will publish its final rule in the Federal Register shortly, and the rule will become effective August 4, 2003. The Board’s notice is attached. |
2003 Banking and consumer regulatory policy