Federal Reserve System December 17, 2007 – Federal Register Recent Federal Regulation Documents

Extensions of Credit by Federal Reserve Banks
Document Number: E7-24315
Type: Rule
Date: 2007-12-17
Agency: Federal Reserve System, Agencies and Commissions
The Board of Governors of the Federal Reserve System (Board) is amending its Regulation A, effective December 12, 2007, to allow the Board to authorize a temporary Term Auction Facility (TAF) under section 10B of the Federal Reserve Act. A TAF is a credit facility that allows a depository institution to obtain an advance from its local Federal Reserve Bank at an interest rate that is determined as the result of an auction. A TAF is expected to permit depository institutions to obtain credit on a secured basis from the Federal Reserve at rates that meet the market demand for credit of relatively short terms. The Board is also announcing the immediate authorization of a TAF, subject to the terms and conditions specified herein.
Formations of, Acquisitions by, and Mergers of Bank Holding Companies
Document Number: E7-24314
Type: Notice
Date: 2007-12-17
Agency: Federal Reserve System, Agencies and Commissions