Extension of Comment Period on Real Estate Activities Proposal
February 23, 2001
Circular No. 11325

To Financial Holding Companies, and Financial Subsidiaries of National Banks, in the Second Federal Reserve District:

The Board of Governors of the Federal Reserve System and the U.S. Department of the Treasury have announced an extension in the deadline to receive comments on whether real estate brokerage and real estate management activities should be permissible for financial holding companies and for financial subsidiaries of national banks.

The joint proposed rule was contained in our Circular No. 11305, dated January 4, 2001. Comments may now be submitted by May 1, 2001.