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FED ER A L R ESER V E BANK O F NEW YORK f Circular No. 0 5 0 f 5 'l L March 11, 1970 J Amendment to Regulation K To All Member Banks, and Others Concerned, in the Second Federal Eeserve District: Enclosed is a copy of an amendment, effective March 3, 1970, to section 211.9 of Regulation K, “ C orporations Engaged in Foreign Banking and Financing U nder the Federal Reserve A ct,” of the B oard of Governors of the Federal Reserve System. The amendment makes it clear th at obligations, to the extent insured against foreign political and credit risk by the E xport-Im port Bank and the Foreign Credit Insurance Association, are exempt from the lim ita tions on total liabilities of one borrow er to an “ Edge corporation” set fo rth in section 211.9(b). Additional copies of the amendment will be furnished upon request. A lfred H ayes, President. CORPORATIONS ENGAGED IN FO R EIG N BANKING AND FINAN CING UNDER T H E FED ER A L RESERVE ACT AM END M ENT TO R EG U LA T IO N K I ssued by t h e B oard of G overnors of th e F ed era l R eserve S y stem Effective M arch 3, 1970, section 211.9(b) (4) (i) is amended to read as follows: § 211.9—L IM IT A T IO N S AND R E S T R IC T IO N S * * * (b) Liabilities of one borrow er. * * * The lim itations of this p a ra g ra p h shall not ap p ly to * * * (4) obligations to the extent supported by the full faith and credit of the follow ing: (i) The U nited States or any departm ent, agency, or establishm ent thereof or corporation wholly owned thereby (including obligations to the extent insured against foreign political and credit risks by the E x p o rt-Im p o rt Bank and the Foreign C redit Insurance A ssociation), the In tern atio n al B ank fo r Reconstruction and Development, the Intern atio n al F inance C orporation, the In te rn a tional Development Association, or the In terA m erican Development B ank; PRINTED I N NE W YORK
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