other · Treasury · Rule · Published 2000-03-28 · Effective 2000-03-17 · 65 FR 16460
Document
Document number
00-7147
Federal Register citation
65 FR 16460
CFR reference
12 CFR 225
Type
Rule
Action
Interim rule, with request for public comments.
Category
other
Sub-agency
Treasury
Publication date
2000-03-28
Effective date
2000-03-17
Treasury docket
Regulation Y
Abstract
The Board of Governors of the Federal Reserve System and the Secretary of the Treasury jointly adopt on an interim basis, effective March 17, 2000, and solicit comment on a rule that will govern merchant banking investments made by financial holding companies. This rule implements provisions of the recently enacted Gramm-Leach-Bliley Act (GLB Act) that permit financial holding companies to make investments as part of a bona fide securities underwriting or merchant or investment banking activity. A summary of the rule appears below in the executive summary in the SUPPLEMENTARY INFORMATION section.