Regulation Y
January 10, 2001
Circular No. 11308

Interim Rule Defining Three Categories of Activities as Financial in Nature

Comments Solicited on Mechanism for Requesting Specific Findings under the Interim Rule

To All Bank and Financial Holding Companies:

The Board of Governors of the Federal Reserve System has approved an interim rule, effective January 2, 2001, defining three categories of activities listed in section 4(k)(5) of the Bank Holding Company Act as financial in nature or incidental to a financial activity. The rule also establishes a mechanism through which parties may request that the Board find that specific activities fall within these categories.

The announcement was made in a press release dated December 21, 2000, which also solicits comments on the mechanism for requesting such Board findings.

The official notice (pdf - 134kb), was published in the Federal Register of January 3, 2001. Comments should be submitted by February 2, 2001, by mail or electronically, as specified in the notice.