Full text of Federal Reserve Bank of New York Circulars : 4664. Amendment to Regulation K, Corporations Doing Foreign Banking or Other Foreign Financing Under the Federal Reserve Act

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FED ERAL RE SE R V E BANK
O F NEW YORK

r Circular No. 4 6 6 4
L November 19, 1958 J

AMENDMENT TO REGULATION K

Corporations Doing Foreign Banking or Other Foreign Financing
Under the Federal Reserve Act

To all Banks and Trust Companies, and Others Concerned,
in th e Second Federal R eserve D istrict:

Effective November 12, 1958, the Board o f Governors o f the
Federal Reserve System has amended its Regulation K. The amend­
ment eliminates the requirement o f section 1 0 (c )(2 ) that no Financing
Corporation shall have a name similar to the name of any bank in the
United States with which the corporation is affiliated.
A copy o f the amendment to the regulation is enclosed; additional
copies will be furnished upon request.




A

lfred

H

ayes,

President.

CORPORATIONS DOING FOREIGN BANKING OR OTHER
FOREIGN FINANCING UNDER THE FEDERAL RESERVE ACT

AMENDMENT TO REGULATION K

ISS U E D B Y T H E B O A R D OF G O V E R N O R S OF T H E F E D E R A L R E S E R V E S Y S T E M

Effective November 12, 1958, Regulation K is amended in the
following respects:
1. The second sentence o f section 3(&) is amended by substituting
a period for the comma following the word ‘ ‘ affiliations, ’ ’ and deleting
the remainder o f this sentence.
2. Section 10(c) is amended by deleting the second paragraph
and striking out “ (1) ” preceding the first paragraph.




P R IN T E D I N

N E W YORK