Full text of District Notices (Federal Reserve Bank of Dallas) : Amendments to Rules Regarding Delegation of Authority, Circular No. 69-230

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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 member
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.
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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 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.
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(f) 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 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)