Legal Interpretations
Federal Reserve Act - 2023 Letters
July 14, 2023 (PDF)
Letter to Benjamin W. McDonough, Senior Deputy Comptroller and Chief Counsel, Office of the Comptroller of the Currency, finding that the exemption requested by Forcht Bank, N.A. ("Bank") from section 23A of the Federal Reserve Act and the Board's Regulation W (12 CFR Part 223) for Bank to purchase 100 percent of the membership interests of its affiliate would be in the public interest and consistent with the purposes of section 23A.
Last Update:
October 31, 2023