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F ederal Reserve Bank DALLAS, TEXAS of Dallas 75222 Circular No. 70-2.2k September 22, 1970 AMENDMENT TO RULES REGARDING DELEGATION OF AUTHORITY To All Member Banks in the Eleventh Federal Reserve District: The Board of Governors of the Federal Reserve System has amended, effective September 16, 1970, section 265-la(a) of its "Rules Regarding Delegation of Authority” so as to delegate to a Board member authority to approve the issuance of obligations of Edge and Agreement corpora tions in certain circumstances. A copy of the amendment is enclosed for insertion in the ring hinder containing the Regulations of the Board of Governors and the Bulletins of this Bank. Yours very truly, P. E. Coldwell President Enclosure (l) This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM RULES REGARDING DELEGATION OF AUTHORITY Approval of Issuance of Obligations by Edge and Agreement Corporations Effective September 16, 1970, § 265.1a(a) is amended by adding a new subparagraph (4) as follows: SECTION 265.1a — SPECIFIC FU NC TIO N S DELEGATED TO BOARD MEMBERS. (4 ) Under § 211.4 of this chapter (Regulation K ), to approve the issuance by an Edge or Agree ment corporation or a subsidiary thereof of deben tures, bonds, promissory notes (with a maturity of more than one year), or similar obligations, (a) Any Board member designated by the Chairman is authorized under sections 25 and 2 5(a) of the Federal Reserve Act and Parts 211 and 213 of this chapter (Regulations K and M ) : * * * * * provided that such corporation is determined to be in satisfactory condition and the delegee is satis fied that the case involves no question of general policy.
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