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: Final rule. SUMMARY: The Board of Governors of the Federal Reserve System is amending 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, simplify and update requirements, and eliminate several obsolete interpretations. As part of the final rule the Board is reissuing prior Subparts B and C. Prior Subparts B and C have not been significantly amended but have been relettered (as Subparts D and E, respectively) to reflect the fact that prior Subpart A was broken into four new Subparts (Subparts A, B, C and F). Prior Subpart D, regarding safety and soundness standards, has been incorporated into new Subpart A. The final rule does not amend in any way Appendices A through E to Part 208. This final rule 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. EFFECTIVE DATE: October 1, 1998. FOR FURTHER INFORMATION CONTACT: Rick Heyke, Staff Attorney, Legal Division (202/452-3688), or Jean Anderson, Staff Attorney, Legal Division (202/452-3707). For the hearing impaired only, Telecommunications Device for the Deaf (TDD), Diane Jenkins (202/452-3544).
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Final rule revising Regulation H (229 KB PDF)
Final rule rescinding Regulation P (13 KB PDF)
1998 Banking and consumer regulatory policy