Legal Interpretations
Federal Reserve Act - 2010 Letters
December 23, 2010 (PDF)
Letter to Jeffrey J. Brown (Ally Financial, Inc.) for relief from certain conditions relating to sections 23A and 23B of the Federal Reserve Act (12 U.S.C. 371c) and the Board's Regulation W (12 CFR Part 223) that were imposed in connection with Ally's application to become a bank holding company.
September 3, 2010 (PDF)
Letter to Phillip A. Wertz (Bank of America Corporation) for an exemption from section 23A of the Federal Reserve Act (12 U.S.C. 371c) and the Board's Regulation W (12 CFR Part 223) to allow Bank of America, National Association, to purchase certain credits from its affiliate, Merrill Lynch & Company, Inc., all of Charlotte, North Carolina.
April 29, 2010 (PDF)
Letter to Jeffrey D. Haas, Esq., granting an exemption from section 23A of the Federal Reserve Act (12 U.S.C. 371c) and the Board's Regulation W (12 CFR Part 223) to allow R-G Premier Bank of Puerto Rico, Hato Rey, Puerto Rico, to acquire all the shares of its affiliate, R&G Mortgage Corporation, San Juan, Puerto Rico.
March 18, 2010 (PDF)
Letter to Patrick S. Antrim, Esq., Bank of America Corporation, Charlotte, North Carolina, terminating the exemption that the Board granted on August 20, 2007, from the restrictions of section 23A of the Federal Reserve Act (12 U.S.C. 371c) and Regulation W (12 CFR Part 223) for certain securities financing transactions.
March 18, 2010 (PDF)
Letter to Carl Howard, Esq., Citigroup Inc., New York, New York, terminating the exemption that the Board granted on August 20, 2007, from the restrictions of section 23A of the Federal Reserve Act (12 U.S. C. 371c) and Regulation W (12 CFR Part 223) for certain securities financing transactions.
March 18, 2010 (PDF)
Letter to Kathleen A. Juhase, Esq., JPMorgan Chase & Co., New York, New York, terminating the exemption that the Board granted on August 20, 2007, from the restrictions of section 23A of the Federal Reserve Act (12 U.S.C. 371c) and Regulation W (12 CFR Part 223) for certain securities financing transactions.
March 18, 2010 (PDF)
Letter to Michael L. Kadish, Esq., Deutsche Bank AG, Frankfurt, Germany, terminating the exemption that the Board granted on September 12, 2007, from the restrictions of section 23A of the Federal Reserve Act (12 U.S.C. 371c) and Regulation W (12 CFR Part 223) for certain securities financing transactions.
March 18, 2010 (PDF)
Letter to Alan B. Kaplan, Esq., Barclays Bank PLC, London, United Kingdom, terminating the exemption that the Board granted on October 11, 2007, from the restrictions of section 23A of the Federal Reserve Act (12 U.S.C. 371c) and Regulation W (12 CFR Part 223) for certain securities financing transactions.
March 18, 2010 (PDF)
Letter to Jay Levine, Esq., The Royal Bank of Scotland plc, Edinburgh, Scotland, terminating the exemption that the Board granted on October 12, 2007, from the restrictions of section 23A of the Federal Reserve Act (12 U.S.C. 371c) and Regulation W (12 CFR Part 223) for certain securities financing transactions.