Federal Reserve System September 19, 2008 – Federal Register Recent Federal Regulation Documents

Transactions Between Member Banks and Their Affiliates: Exemption for Certain Securities Financing Transactions Between a Member Bank and an Affiliate
Document Number: E8-21792
Type: Rule
Date: 2008-09-19
Agency: Federal Reserve System, Agencies and Commissions
In light of the continuing unusual and exigent circumstances in the financial markets, the Board has adopted, on an interim final basis, a regulatory exemption for member banks from certain provisions of section 23A of the Federal Reserve Act and the Board's Regulation W. The exemption increases the capacity of member banks, subject to certain conditions designed to help ensure the safety and soundness of the banks, to enter into securities financing transactions with affiliates.
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