Full text of District Notices (Federal Reserve Bank of Dallas) : Amendment to Rules Regarding Delegation of Authority, Circular No. 73-58

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F ederal Reserv e Bank
DALLAS, TEXAS

of

Dallas

75222

Circular No. 73-58
March 1^, 1973

AMENDMENT TO
RULES REGARDING DELEGATION OF AUTHORITY

To All Member Banks in the
Eleventh Federal Reserve District:
Enclosed is a copy of an amendment to the Board*s
Rules Regarding Delegation of Authority. The purpose of the
amendment is to grant to the Federal Reserve Banks discretionary
authority to deny, as well as approve, applications by State
banks for waiver of the requirement for six months* notice of
intention to withdraw from Federal Reserve membership.
The amendment is effective with respect to applica­
tions received by the Federal Reserve Banks after March 12,
1973* The enclosed copy should be inserted in the ring binder
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

D ELEG A TIO N OF SPECIFIC FU N C TIO N TO F E D E R A L RESER V E BANKS

Effective with respect to applications received by
the Federal Reserve Banks on and after M arch 12,
1973, § 2 65 .2(f)(3) is amended to read as follows:
S E C T IO N 2 6 5 .2 — SPEC IFIC F U N C T IO N S
D E L E G A T E D TO B O A R D E M P L O Y E E S
A N D FED E R A L RESERVE B AN K S
*

*

*

*

*

(f)
E ach Federal R eserve Bank is authorized,
as to m em ber banks or other indicated organi­

zations headquartered in its district, or under sub­
paragraph (25) o f this paragraph, as to its officers:

*

*

*

*

*

(3)
U nder the provisions o f the tenth paragraph
o f section 9 o f the Federal Reserve A ct (12 U.S.C .
328), to approve or deny applications by State
banks for waiver o f the required six m onths’
notice o f intention to withdraw from Federal
Reserve membership.