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FEDERAL RESERVE SYSTEM

12 CFR Parts 208 and 250

[Regulation H; Docket No. R-0964]

Membership of State Banking Institutions in the Federal Reserve System; Miscellaneous Interpretations

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Notice of proposed rulemaking.

SUMMARY: The Board of Governors of the Federal Reserve System is proposing to amend Subpart A of Regulation H, regarding the general provisions for membership in the Federal Reserve System, and Subpart E of Regulation H, regarding Interpretations, in order to reduce regulatory burden and simplify and update requirements. The proposal would also eliminate several obsolete interpretations. The Board is also reissuing existing Subparts B and C. Existing Subparts B and C would not be significantly amended but would be relettered (as Subparts D and E, respectively) to reflect the fact that existing Subpart A would be broken into four new Subparts (Subparts A, B, C and F). Existing Subpart D, regarding safety and soundness standards, would be incorporated into proposed Subpart A. The proposal would not amend in any way Appendices A through E to Part 208. This proposal to modernize Subpart A of Regulation H is in accordance with the Board's policy of reviewing its regulations as well as the Board's review of regulations under section 303 of the Riegle Community Development and Regulatory Improvement Act of 1994.

DATES: Comments must be received by May 30, 1997.

ADDRESSES: Comments, which should refer to Docket No. R-0964, may be mailed to Mr. William W. Wiles, Secretary, Board of Governors of the Federal Reserve System, 20th�Street and Constitution Avenue, N.W., Washington, DC 20551. Comments addressed to Mr. Wiles also may be delivered to the Board's mail room between 8:45 a.m. and 5:15�p.m., and to the security control room outside of those hours. Both the mail room and the security control room are accessible from the courtyard entrance on 20th Street between Constitution Avenue and C Street, N.W. Comments may be inspected in Room MP-500 between 9:00 a.m. and 5:00 p.m. weekdays, except as provided in § 261.8 of the Board of Governors' Rules Regarding Availability of Information, 12 CFR 261.8.

FOR FURTHER INFORMATION CONTACT: Jean Anderson, Staff Attorney, Legal Division (202/452-3707). For the hearing impaired only, Telecommunications Device for the Deaf (TDD), Dorothea Thompson (202/452-3544).

Summary and notice (188 KB PDF)

1997 Banking and consumer regulatory policy


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Last update: March 28, 1997 10:00 AM