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F ederal Reserve Bank of Dallas DALLAS, TE X A S 75222 C i r c u la r No. 7 2 -1 8 9 Septem ber 1 3 , 1972 POSTPONEMENT OF EFFECTIVE DATE OF THE PROPOSED AMENDMENTS TO REGULATIONS G, T, AND U To A l l B an ks, B r o k e r s /D e a le r s , R e g u la t io n G R e g i s t r a n t s and O thers Concerned, i n t h e E le v e n th F e d e r a l R e se r v e D i s t r i c t : R e c e n t ly , t h e Board, o f G overnors o f t h e F e d e r a l R eserv e System announced t h e p ostp on em en t u n t i l December 1 , 1 9 7 2 , o f t h e e f f e c t i v e d a te o f t h e p rop osed amendments i n r e g a r d t o c r e d i t f o r t h e p u rp ose o f c o n t r i b u t i n g c a p i t a l t o b r o k e r s and. d e a l e r s . The p r o p o se d r e g u l a t o r y amendments w i l l a llo w c r e d i t w it h o u t r e g a r d t o i n i t i a l m argin r e q u ir e m e n ts . On J u l y 9 , 1 9 7 1 5 t h e Board i s s u e d i n r e v i s e d form t h e s e p r o p o se d amendments t o m argin r e g u l a t i o n s G, T, and U. P r in t e d on t h e f o l l o w i n g p a g e s i s t h e p ostponem ent n o tic e . Yours v e r y t r u l y , P. E. Coldwell, President This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) FEDERAL RESERVE SYSTEM (12 CFR PARTS 207, 220, and 221) (Regs. G, T, and U) SECURITIES CREDIT BY PERSONS OTHER THAN BANKS, BROKERS, OR DEALERS CREDIT BY BROKERS AND DEALERS CREDIT BY BANKS FOR THE PURPOSE OF PURCHASING OR CARRYING MARGIN STOCK Notice postponing effective date of proposed amendments in regard to Credit to Contribute Capital to Brokers and Dealers. 1. Pursuant to the authority contained in the Securities Exchange Act of 1934 (15 U.S.C. 7 Og), the Board of Governors, on July 9, 1971 (36 Federal Register 13218), published revisions to its proposals to amend Parts 207, 220, and 221 (Regulations G, T, and U ) , to become effective October 1, 1971, but postponed to September 1, 1972 by Notice (37 Federal Register 4968). 2. rules In light of developments with respect to the captial applicable to brokers and dealers, and continuing studies by other regulatory bodies, the Board hereby announces that it will postpone the proposed effective date to December 1, 1972. 3. As a result of the postponement of the proposed' effec tive date, the proposed changes to Regulations G, T, and U would apply to credit extended by banks, brokers or dealers, and persons subject to Regulation G after December 1, 1972 and to renewals after such date of credit extended by banks after (i) April 16, 1971 in the case of credit extended to a customer for the purpose of making a loan - 2 or contribution of capital to a broker or dealer subject to Part 220 (Regulation T ) , (ii) July 9, 1971 in the case of credit extended directly to a broker or dealer. By order of the Board of Governors, August (Signed) 22 Tynan Smith Secretary [SEAL] , 1972,
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