Legal Interpretations
Federal Reserve Act - 2002 Letters
October 11, 2002
Letter to Marquette Financial Companies, Minneapolis, Minnesota, granting Community Bank of Arizona, National Association, Wickenburg, Arizona, an exemption from the quantitative limits of section 23A of the Federal Reserve Act, 12 U.S.C. § 371c(a)(1), in order that Marquette Financial Companies may contribute the shares of two nonbank subsidiaries to Community Bank of Arizona, National Association.
June 19, 2002
Letter to Bank Leumi (USA) New York, New York, granting an exemption from the quantitative limits of section 23A of the Federal Reserve Act, 12 U.S.C. 371c, for the purchase of assets of the Miami agency of Bank of Leumi le-Israel B.M., Tel Aviv, Israel.
March 22, 2002 (PDF)
Letter to Comerica Bank-California, concerning the compliance of an "arbitrage loan program" with the Board's Regulation Q, "Prohibition Against Payment of Interest on Demand Deposits," 12 CFR Part 217.
March 1, 2002
Letter to Grand National Bank, Alhambra California, granting an exemption from the quantitative limits of section 23A of the Federal Reserve Act, 12 U.S.C. 371c, in order that Grand National Bank may acquire assets from the Los Angeles branch of Bank of East Asia, Hong Kong Special Administrative Region, People's Republic of China.
February 21, 2002
Board statement concerning the acquisition of equity securities by state member banks to hedge the risks arising from equity derivative transactions lawfully entered into by the bank with third parties.
February 14, 2002
Letter to Israel Discount Bank of New York granting an exemption from the quantitative limits of section 23A of the Federal Reserve Act, 12 U.S.C. 371c, for the purchase of assets from the Miami agency of Israel Discount Bank.