Full text of District Notices (Federal Reserve Bank of Dallas) : Amendments to Rules Regarding Delegation of Authority, Circular No. 80-126

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F ederal

reserve

Ba n k

DALLAS. TEXAS

of

Dallas

75222

Circular No. 80-126
June 23, 1980

AMENDMENTS TO RULES REGARDING
DELEGATION OF AUTHORITY
TO ALL BANKS
AND OTHERS CONCERNED IN THE
ELEVENTH FEDERAL RESERVE DISTRICT:
The Board of Governors of the Federal Reserve System recently
amended its Rules Regarding D elegation of Authority.
These changes
include the delegation to the Director of the Division of Banking
Supervision and Regulation authority to make certain reports available to
the Securities and Exchange Commission, provisions relating to changes in
circum stances requiring termination of interlocking management official
relationships, and the continuation of the delegation of authority to ensure
the expiditious handling of certain Board business when a quorum of Board
members is not available.
These amendments are printed on the reverse o f this circular
and should be filed in your Regulations Binder. The slip sheet dated April
1980 should be removed and destroyed.
Questions concerning the
amendments should be directed to Robert Smith, III, Assistant Vice
President, Ext. 6207.
Additional copies will be furnished upon request to our Bank and
Public Information Department, Ext. 6266.
Sincerely yours,
Robert H. Boykin
First Vice President

Banks and others are encouraged to use the following incoming W A T S numbers in contacting this Bank:
1-800-442-7140 (intrastate) and 1-800-527-9200 (interstate). For calls placed locally, please use 651 plus the
extension referred to above.

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
AM ENDM ENTS t
A s am en d ed effective M ay 19, 1980
1. E f f e c t i v e N o v e m b e r 2 8 . 1 9 7 9 . s e c t io n
2 6 5 . 2 ( c ) is a m e n d e d by a d d i n g a n ew p a ra g r a p h
(25) to read as follows:
S E C T IO N 2 6 5 .2 — S P E C IF IC F U N C T IO N S
D ELEGA TED TO BOARD EMPLOYEES
A N D T O F E D E R A L R E S E R V E B A N K S.
* * * *
*

* * * * *

(c)
T h e D irecto r o f th e D ivision o f B anking
S upervision and R egulation (or. in the D irector's
absence, the A cting Director) is authorized:
jfc

%

%

(f)
E ach F e d eral R ese rv e B ank is au th o rized as
to a m e m b e r b an k or o th e r in d ic a te d o rg a n iz a tio n
fo r w h ich the R e se rv e B ank is re s p o n sib le for re ­
ceiving applications or registration statem ents; as to
its o ff ic e rs u n d e r s u b p a r a g ra p h (23) o f this p a r a ­
g rap h : and as to its o w n fa c ilitie s u n d e r su b p a r a ­
graph (26) o f this paragraph:

:je

(25)
U n d er the p ro v isio n s o f
section 17(c)(3) of
the Secu rities E x c h a n g e A ct o f 1934. as a m e n d ed ,
to m a k e a v a i la b l e u p o n r e q u e s t to th e S e c u r itie s
a n d E x ch an g e C o m m is s io n rep o rts o f ex am in a tio n
o f tran sfer ag en ts, c learin g a g en cies and m unicipal
securities dealers fo r w hich the B oard is the a p p ro ­
priate regulatory agency for use by the C om m ission
in the exercise o f its supervisory responsibilities un­
d er that statute.

(48) U nder § 2 12.6 o f this chapter (Regulation L
relating to c h a n g e s in circ u m s ta n c e s requiring te r­
m ination o f interlocking m a n a g e m e n t official re la ­
tionships). to grant time for com pliance with § 212
o f up to an a g g re g a te o f 15 m o n th s from the date
on w hich the ch an g e in c ircu m s tan ces as specified
in that section o ccurs w hen the additional time a p ­
pears to be appropriate to avoid undue disruption to
the d e p o sito ry o rg a n iz a tio n s in v o lv ed in the m a n ­
agem ent interlocks.
3. Effective M ay 19. 1980. section 265.1 a (c ) is
am ended to read as follows:
S E C T IO N 265.1a— S P E C IF IC FU N C TIO N S
DELEGATED TO BOARD MEMBERS

2. E f f e c t i v e M a y 9 , 1 9 8 0 . § 2 6 5 . 2 (f) is
a m e n d e d by a d d in g s u b p a r a g r a p h (48) to read as
follows:
S E C T IO N 2 6 5 .2 — S P E C IF IC F U N C T IO N S
DELEGA TED TO BOARD EM PLOYEES AND
T O F E D E R A L R E S E R V E B AN KS.

* * * * *
(e)
A n y t h r e e B o a r d m e m b e r s d e s ig n a t e d
fro m tim e to tim e by th e C h a irm a n (the "A c tio n
C o m m it te e " ) are au th o rized . * * * T his delegation
o f authority shall terminate June 30. 1982.

* For this Regulation to be complete as amended May 19. 1980. retain:
1) Printed regulation pamphlet dated September 21. 1979.
2) This slip sheet. Destroy slip sheet dated April 1980.

M A Y 1980