other · Treasury · Rule · Published 1998-12-01 · Effective 1999-01-01 · 63 FR 66348
Document
Document number
98-31673
Federal Register citation
63 FR 66348
CFR reference
12 CFR 563
Type
Rule
Action
Final rule.
Category
other
Sub-agency
Treasury
Publication date
1998-12-01
Effective date
1999-01-01
Treasury docket
No. 98-116
Abstract
The Office of Thrift Supervision (OTS) is issuing a final rule on financial derivatives. The final rule permits savings associations to engage in transactions involving financial derivatives to the extent that these transactions are authorized under applicable law and are otherwise safe and sound. In addition, the final rule describes the responsibilities of a savings association's board of directors and management with respect to financial derivatives. Elsewhere in today's Federal Register, OTS is publishing a Thrift Bulletin that provides supplemental supervisory guidance on the use of financial derivatives.