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FEDERAL RESERVE SYSTEM

12 CFR Part 265

Rules Regarding Delegation of Authority

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Final rule.

SUMMARY: The Board of Governors of the Federal Reserve System (Board) is delegating to the Director of the Division of Banking Supervision and Regulation the Board's authority to determine in individual cases that the services of an appraiser are not necessary in order to protect Federal financial and public policy interests in real estate-related financial transactions or to protect the safety and soundness of the institution. This delegation of authority is intended to aid in the efficient processing of requests for individual exemptions from the Board's appraisal regulation.

EFFECTIVE DATE: December 9, 1997.

FOR FURTHER INFORMATION CONTACT: Deneen L. Donnley-Evans, Staff Attorney (202/736-5567), Legal Division; or Virginia M. Gibbs, Senior Supervisory Financial Analyst, (202/452-2521), Division of Banking Supervision and Regulation; Board of Governors of the Federal Reserve System, 20th Street and Constitution Avenue, N.W., Washington, DC 20551.

Summary and final rule (8 KB PDF)

1997 Banking and consumer regulatory policy


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Last update: December 10, 1997, 4:00 PM