Legal Interpretations
Federal Reserve Act - 2005 Letters
November 22, 2005 (PDF)
Letter to FirsTier Bank, Upton, Wyoming, granting an exemption under section 23A of the Federal Reserve Act and Regulation W (12 USC 371c and 12 CFR Part 223), in order to permit Firstier Bank to purchase its premises from an affiliate.
November 22, 2005 (PDF)
Letter to The Royal Bank of Scotland Group plc, Edinburgh, Scotland, granting an exemption from section 23A of the Federal Reserve Act and Regulation W (12 U.S.C. 371c and 12 CFR 223) in order that its wholly owned subsidiary, Charter One Bank, N.A., Cleveland, Ohio, may acquire RBS Asset Finance, Inc., New York, New York, from The Royal Bank of Scotland Group.
October 25, 2005 (PDF)
Letter to Citigroup, Inc., New York, New York, granting an exemption from section 23A of the Federal Reserve Act and Regulation W (12 U.S.C. 371c and 12 CFR 223) in order that certain Australian Regulation W operating subsidiaries of Citibank, N.A., also in New York, may enter into a tax-sharing agreement with certain Australian Regulation W affiliates of Citibank, N.A.
October 3, 2005 (PDF)
Letter to Banco Popular de Puerto Rico, granting an exemption from the quantitative limits of section 23A of the Federal Reserve Act and Regulation W (12 U.S.C. 371c and 12 CFR 223) for extensions of credit by Banco Popular to unaffiliated customers that are secured, in whole or in part, by shares of two investment fund affiliates of the bank.
June 7, 2005
Letter to Bank of America Corporation, granting an exemption from section 23A of the Federal Reserve Act and Regulation W (12 USC 371c and 12 CFR 223) for certain extensions of credits made by the bank to its affiliated broker-dealers in connection with the bank's securities borrowing transactions.
May 5, 2005
To The Bank of New York Company, granting an exemption from section 23A of the Federal Reserve Act and Regulation W (12 U.S.C. 371c and 12 CFR Part 223) for certain indemnities made by The Bank of New York on behalf of, and certain extensions of credit made by the bank to, BNY Capital Markets, Inc. (an affiliate of the bank), in connection with the bank's securities lending program.
April 8, 2005
Letter to Omni National Bank, Fayetteville, North Carolina, granting an exemption from the quantitative limits of section 23A of the Federal Reserve Act and Regulation W, 12 USC 371c and 12 CFR Part 223, in order to permit it to retain an aircraft purchased from an affiliate.
April 1, 2005
Letter to Klein Financial, Inc., Chaska, Minnesota, granting an exemption from the quantitative limits of section 23A of the Federal Reserve Act and Regulation W, 12 USC 371c and 12 CFR 223.43, in order that its wholly owned subsidiary, Preferred Bank, Big Lake, Minnesota, may acquire certain assets and assume certain liabilities from Klein Financial, Inc.