Margin Regulations G, T, AND U
December 31, 1996
Circular No. 10904

Comment Period on Proposal Extended to January 31

To All Depository Institutions and Others Concerned in the Second Federal Reserve District:

The following is from a statement issued by the Board of Governors of the Federal Reserve System:

The Federal Reserve Board has announced a month-long extension of time to receive public comments on proposed amendments to its margin regulations (Regulations G, T and U) issued in response to the enactment of the National Securities Markets Improvement Act.

Comment must now be received by January 31, 1997.

The Board has taken this action at the request of commenters to allow more time to analyze the proposal and provide more meaningful comments.

The text of the Board's extension order, as published in the Federal Register of December 23, is available. The proposal itself was sent to you in our Circular No. 10897, dated December 4, 1996.