Fed issues FAQs on six rules – most, so far, addressing bank-affiliate transactions

A set of frequently asked questions (FAQs) providing existing legal interpretations related to a half-dozen of the Federal Reserve Board’s rules were published Wednesday and will be updated periodically, the Fed said.

The Fed said the FAQs include legal interpretations made over time in response to specific requests about the rules and that they are aimed at increasing transparency and making board and board staff legal interpretations more accessible. “Each set includes significant existing interpretations of the regulation, including those found in Board orders, letters to specific requestors, and other sources, as well as those not previously available in written form,” it said.

There are 111 FAQs overall, addressing six major rules. The greatest number of FAQs are on Regulation W, with 51 in all, addressing transactions between member banks and affiliates; and Regulation Y, with 21 in all, on bank holding companies and change in bank control.

The rest break down as follows:

  • 9 on Regulation H, Membership of State Banking Institutions in the Federal Reserve System
  • 10 on Regulation K, International Banking Operations
  • 10 on Regulation L and Subpart J of Regulation LL, Management Official Interlocks
  • 10 on Regulation O, Loans to Executive Officers, Directors, and Principal Shareholders of Member Banks

Federal Reserve Board publishes frequently asked questions (FAQs) comprising existing legal interpretations related to a number of the Board’s longstanding regulations

FAQs on Fed rules