Circular
Regulation Y
January 12, 2001
Circular No. 11311

Final Rule on Merchant Banking Activities of Financial Holding Companies

To All Bank and Financial Holding Companies in the Second Federal Reserve District:

The Board of Governors of the Federal Reserve System and the Secretary of the Treasury have adopted a final rule governing merchant banking activities of financial holding companies. The rule, effective February 15, 2001, was announced in a joint press release on January 10, 2000.

The final rule (pdf - 156kb) , as submitted for publication in the Federal Register, is available. It incorporates a number of amendments in response to public comments on the interim rule [see our Circular No. 11243, dated April 13, 2000].