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FEDERAL RESERVE BANK OF DALLAS D A L L A S, TEXA S 7 5 2 2 2 Circular No. 69-230 September 9, 1969 AMENDMENTS TO RULES REGARDING DELEGATION OF AUTHORITY To All Member Banks in the Eleventh Federal Reserve Districts The Board of Governors of the Federal Reserve System adopted, effective September 2, 1969, two amendments to its Rules Regarding Delegation of Authority. A copy of the amendments is enclosed. It is requested that m ber em banks insert the copy of the amendments 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 (1) This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) TITLE 12 — BANKS A N D BANKING CHAPTER II — FEDERAL RESERVE SYSTEM SUBCHAPTER A — BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM PART 2 6 5 — RULES REGARDING DELEGATION OF AUTHORITY Specific Functions Delegated to Board Employees and Federal Reserve Banks 1. Effective September 2, 1969, section 2 6 5 .2 (c ) is amended by adding subparagraph (13) and section 2 65 .2(f) is amended by adding subparagraph (17), as follows: SECTION 2 65 .2-S P E C IF IC FU NCTIONS DELEG A TED TO BOARD EMPLOYEES A N D FEDERAL RESERVE BANKS. $ }c j $ $ $ * (c) The Director of the Division of Supervision and Regulation (or in his absence, the Acting Director) is authorized: * * * * * * (13) Under the provisions of sections 207.2(f), 220.2(e), and 221.3(d) of this chapter (Regulations G, T, and U, respectively) to approve issuance of the list o f OTC margin stocks and to add, omit, or remove any stock in cir cumstances indicating that such change is necessary or appropriate in the public interest. $ $ $ $ sc f $ (f) Each Federal Reserve Bank is authorized, as to member banks or other indicated organizations headquartered in its district: * * * * * * (17) Under the provisions of section 207.1(b) of this chapter (Regula tion G), to approve applications for termination o f registration by persons who are registered pursuant to section 207.1(a). 2a. The purpose of these amendments is to delegate certain functions of the Board relating to administration of margin requirements (Regulations G, T, and U ) so far as they apply to securities traded over the counter. b. The provisions of section 553 of title 5, United States Code, relating to notice and public participation and to deferred effective dates, were not followed in connection with the adoption of this amendment, because the rules contained therein are procedural in nature and accordingly do not con stitute substantive rules subject to the requirements o f such section. Adopted September 4, 1969. By order of the Board of Governors. (Signed) Robert P. Forrestal Robert P. Forrestal, Assistant Secretary. (SEAL)