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FEDERAL RESERVE BANK
OF N EW YORK

J" Circular N o. 6 4 0 0 1
L September 9, 1969 J

Amendments to Board of Governors’ Rules
Regarding Delegation of Authority

To All Member Banlcs, and Others Concerned,
in the Second Federal Reserve D istrict:

Enclosed is a copy of amendments, effective September 4, 1969, to
the Rules Regarding Delegation of Authority of the Board of Gov­
ernors of the Federal Reserve System.

The amendments delegate

certain functions of the Board relating to administration of margin
requirements (Regulations G, T, and U) as they apply to securities
traded over-the-counter.
Additional copies of the amendments will be furnished upon
request.




A

lfred

H

ayes,

President.

B oard of G o v ern o rs o f t h e F e d e r a l R e s e r v e S y s t e m

RULES REGARDING DELEGATION OF AUTHORITY
AM ENDM ENTS
Effective September 4, 1969, § 265.2(c) is amended by adding sub­
paragraph (13), and § 265.2(/) is amended by adding subparagraph
(17), as follows:
SECTION 265.2— SPECIFIC FUNCTIONS D ELE G A TE D TO
BOARD EM PLOYEES AND F E D E R A L R ESERVE BAN KS
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(c) The Director of the Division of Supervision and Regulation
(or, in his absence, the Acting Director) is authorized:
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(13) Under the provisions of §§ 2 0 7 .2 (/), 220.2(e), and 221.3 (d)
of this chapter (Regulations G, T, and U, respectively), to approve
issuance of the list of OTC margin stocks and to add, omit, or remove
any stock in circumstances indicating that such change is necessary
or appropriate in the public interest.
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( /) Each Federal Reserve Bank is authorized, as to member banks
or other indicated organizations headquartered in its district:
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(17) Under the provisions of § 207.1 (&) of this chapter (Regula­
tion G ), to approve applications for termination of registration by
persons who are registered pursuant to § 207.1(a).




PR IN TE D IN N E W YORK