Transactions Between Banks and Their Affiliates
June 27, 2001
Circular No. 11358

Supplement to Proposed New Regulation W

To All State Member Banks, Bank Holding Companies, and Section 20 Subsidiaries in the Second Federal Reserve District:

In the Federal Register of June 25, 2001, the Board of Governors of the Federal Reserve System published a supplement (pdf - 30kb) to the proposed new Regulation W. As indicated in our Circular No. 11349, dated May 22, 2001, the proposed regulation (pdf - 245kb) would implement sections 23A and 23B of the Federal Reserve Act. The supplement adds a provision to page 24201 of the proposal.

Comments on the supplement, as well as on the rest of the proposal, must be submitted to the Board by August 15, 2001, as indicated in the official notice (pdf - 245kb) .

Questions on this matter may be directed, at this Bank, to James V. Keogh, Examining Officer, Legal and Compliance Risk Department.