Proposed Amendments to Regulations D and I to Facilitate Interstate Banking
March 27, 1997
Circular No. 10935

Comments Requested by April 18

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 requested comment on proposed amendments to Regulation D and Regulation I to define the location of a depository institution to facilitate interstate branching.

Comment is requested by April 18, 1997.

The proposed amendments would clarify the Federal Reserve District where a depository institution is eligible for Federal Reserve membership and the location of a depository institution's reserve account.

The Board also requests comments on whether it should apply the same, or similar, criteria for determining the location of reserve accounts for U.S. branches and agencies of foreign banks and Edge and agreement corporations as it does for depository institutions.

The text of the Board's proposal as published in the Federal Register of March 11, 1997 is available as a (pdf) file. Comments thereon should be submitted by April 18, 1997 and may be sent to the Board, as specified in the notice, or to Richard J. Gelson, Vice President at this Bank.