Office of the Comptroller of the Currency 12 CFR Part 13
[Docket No. ]
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12 CFR Part 208 and 211 [Regulations H and K, Docket No. R-0921]
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12 CFR Part 368 RIN 3064-AB66 |
Government Securities Sales Practices
AGENCIES: Office of the Comptroller of the Currency, Treasury; Board of Governors of the Federal Reserve System; Federal Deposit Insurance Corporation. ACTION: Joint final rule. SUMMARY: The Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (Board), and Federal Deposit Insurance Corporation (FDIC) (collectively, the agencies) are issuing rules regarding sales practices concerning government securities by depository institutions within their respective jurisdictions. The agencies are adopting the final rules in light of recent statutory changes authorizing the agencies to adopt rules governing transactions in government securities in order to provide consistent treatment for government securities customers. The final rules minimize regulatory burdens to the extent feasible, consistent with the goal of providing purchasers of government securities with consistent treatment regardless of whether they engage in transactions in government securities with banks or nonbank government securities brokers and dealers. EFFECTIVE DATE: This joint rule is effective July 1, 1997. FOR FURTHER INFORMATION CONTACT: OCC: Ellen Broadman, Director, or Elizabeth Malone, Senior Attorney, Securities & Corporate Practices Division (202/874-5210); Joseph W. Malott, National Bank Examiner, Capital Markets (202/874-5070); or Mark J. Tenhundfeld, Assistant Director, Legislative and Regulatory Activities (202/874-5090), 250 E Street, SW, Washington, DC 20219. Board: Oliver Ireland, Associate General Counsel (202/452-3625), or Lawranne Stewart, Senior Attorney (202/452-3513), Legal Division, Board of Governors of the Federal Reserve System, 20th and C Streets, NW, Washington DC 20551. For the hearing impaired only, Telecommunication Device for Deaf (TDD), Ernestine Hill or Dorothea Thompson (202/452-3544). FDIC: William A. Stark, Assistant Director (202/898-6972), Keith Ligon, Chief (202/898-3618), Kenton Fox, Senior Capital Markets Specialist (202/898-7119), Division of Supervision; or Karen L. Main, Senior Attorney (202/898-8838), Legal Division, Federal Deposit Insurance Corporation, 550 17th Street, NW, Washington, DC 20429. |
Summary and final rule (90 KB PDF)
1997 Banking and consumer regulatory policy