Questions? +1 (202) 335-3939 Login
Trusted News Since 1995
A service for banking industry professionals · Friday, March 29, 2024 · 699,635,870 Articles · 3+ Million Readers

Federal Reserve Board finalizes technical rule that will streamline reporting requirements for member banks related to their subscriptions to Federal Reserve Bank capital stock

January 10, 2022

Federal Reserve Board finalizes technical rule that will streamline reporting requirements for member banks related to their subscriptions to Federal Reserve Bank capital stock

For release at 4:00 p.m. EST

The Federal Reserve Board on Monday finalized a technical rule that will streamline reporting requirements for member banks related to their subscriptions to Federal Reserve Bank capital stock. The final rule is substantially similar to the proposal.

In particular, the final rule amends Regulation I to reduce the quarterly reporting burden for member banks by automating the application process for adjusting their subscriptions to Federal Reserve Bank capital stock, except in the context of mergers.

The rule will be effective 30 days after publication in the Federal Register.

For media inquiries, contact 202-452-2955 or media@frb.gov.

Powered by EIN Presswire


EIN Presswire does not exercise editorial control over third-party content provided, uploaded, published, or distributed by users of EIN Presswire. We are a distributor, not a publisher, of 3rd party content. Such content may contain the views, opinions, statements, offers, and other material of the respective users, suppliers, participants, or authors.

Submit your press release