Federal Reserve System March 4, 2013 – Federal Register Recent Federal Regulation Documents

Financial Market Utilities
Document Number: 2013-04841
Type: Proposed Rule
Date: 2013-03-04
Agency: Federal Reserve System, Agencies and Commissions
Section 806(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the ``Dodd-Frank Act'' or ``Act'') permits the Board of Governors of the Federal Reserve System (the ``Board'') to authorize a Federal Reserve Bank to establish and maintain an account for, and through the account provide certain financial services to, financial market utilities (``FMUs'') that are designated as systemically important by the Financial Stability Oversight Council (the ``Council''). In addition, section 806(c) of the Dodd-Frank Act permits a Reserve Bank to pay interest on the balances maintained by or on behalf of a designated FMU. The Board is proposing to add two new sections to Part 234 of Title 12 of the Code of Federal Regulations to implement these provisions of the Dodd-Frank Act.