Final Rule on Amendments to Securities Exchange Act
February 3, 2003
Circular No. 11497

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

In a Federal Register notice, the Federal Reserve Board announced a final rule to reflect the amendments made to section 12(i) of the Securities Exchange Act of 1934 by the Sarbanes-Oxley Act of 2002.

These amendments vest the Board with the authority to administer and enforce several of the enhanced reporting, disclosure and corporate governance obligations imposed by the Sarbanes-Oxley Act with respect to state member banks that have a class of securities registered under the Securities Exchange Act of 1934.

The final rule is effective on April 1, 2003.

Questions on this matter may be directed, at this Bank to John E. Tschirhart, Supervising Examiner, Operational Risk Department.