FED Issues FAQs on Legal Interpretations for Six Banking Regulations
FED published sets of the frequently asked questions (FAQs) in response to clarification requests for the existing legal interpretations for the six longstanding regulations of FED. The FAQs relate to the regulations on Bank Holding Companies and Change in Bank Control (Regulation Y), Transactions Between Member Banks and Their Affiliates (Regulation W), Loans to Executive Officers, Directors, and Principal Shareholders of Member Banks (Regulation O), Management Official Interlocks (Regulation L), International Banking Operations (Regulation K), and Membership of State Banking Institutions in the Federal Reserve System (Regulation H).
The largest number of FAQs is 51 for Regulation W, followed by 21 FAQs on Regulation Y. These presented legal interpretations have been formulated over time in response to questions from institutions or members of the public regarding how to interpret specific provisions of the FED regulations, or how to apply the rules to particular situations and fact patterns. Each set includes significant existing interpretations of the regulation, including those found in FED orders, preambles to proposed and final rulemakings, letters to institutions, and other written and verbal guidance. Additional FAQs will be released periodically and posted on the FED website.
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Keywords: Americas, US, Banking, FAQ, Regulation H, Regulation K, Regulation L, Regulation W, Regulation Y, Regulation O, Internal Control, Affiliate Transactions, FED
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