Fed · other · Published 2001-01-03 · Effective 2001-01-02 · 66 FR 257
Document
Document number
01-42
Federal Register citation
66 FR 257
CFR reference
12 CFR 225
Type
Rule
Action
Joint interim rule with request for public comments.
Category
other
Agency
US Federal Reserve System
Publication date
2001-01-03
Effective date
2001-01-02
Docket
Regulation Y
Abstract
The Board of Governors of the Federal Reserve System and the Secretary of the Treasury (the Agencies) are soliciting comment on interim rules that would implement section 4(k)(5) of the Bank Holding Company Act and section 5136A(b)(3) of the Revised Statutes, as enacted by the Gramm-Leach-Bliley Act. The interim rules find three general types of activities to be financial in nature, and create a mechanism by which financial holding companies, financial subsidiaries of national banks, or others may request that the Board or the Secretary, respectively, define particular activities within one of the three categories. The Board and the Secretary solicit comments on all aspects of the interim rule and will modify the final rule as appropriate in response to the comments received.