Federal Reserve Board

FEDERAL RESERVE SYSTEM

12 CFR Part 203

Regulation C; Docket No. [R-1033]

Home Mortgage Disclosure (Regulation C)

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Final rule; staff commentary

SUMMARY: The Board is publishing a final rule amending the staff commentary that interprets the requirements of Regulation C (Home Mortgage Disclosure). The Board is required to adjust annually the asset-size exemption threshold for depository institutions based on the annual percentage change in the Consumer Price Index for Urban Wage Earners and Clerical Workers. The adjustment reflects changes for the twelve-month period ending in November. During this period, the index increased by 1.3%; as a result, the threshold remains at $29 million. Thus, depository institutions with assets of $29 million or less as of December 31, 1998 are exempt from data collection in 1999.

EFFECTIVE DATE: January 1, 1999. This rule applies to all data collection in 1999.

FOR FURTHER INFORMATION CONTACT: Pamela Morris Blumenthal, Staff Attorney, Division of Consumer and Community Affairs, at (202) 452-3667; for users of Telecommunications Device for the Deaf (TDD) only, contact Diane Jenkins at (202) 452-3544.

Summary and final rule (13 KB PDF)

1998 Banking and consumer regulatory policy


Home | News and events
Accessibility
Last update: December 23, 1998, 8:15 AM