Full text of Federal Reserve Bank of New York Circulars : 7767. Amendment to Rules Regarding Delegation of Authority

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FEDERAL RESERVE BANK
O F NEW YORK

[

C irc u la r N o . 7 7 6 7 " |
D ece m b er 9, 1975

Amendment to Rules Regarding Delegation of Authority

To A ll Member Banks, and Others Concerned,
in the Second Federal Reserve D istrict:

Enclosed is a copy of an amendment, effective November 7, 1975, to the
Rules Regarding Delegation of Authority of the Board of Governors of
the Federal Reserve System. The amendment delegates to the Director of the
Division of Banking Supervision and Regulation the authority to accelerate the
effective date of a registration statement filed by a banking institution with respect
to its transfer agent activities.
Additional copies of the enclosure will be furnished upon request.




Paul

A. V o l c k e r ,
P residen t.

J

Board of Governors of the Federal Reserve System

RULES REGARDING DELEGATION OF AUTHORITY
AM ENDM ENT
Effective November 7, 1975, subparagraph
(17) is added to paragraph (c) of section
265.2 to read as follows:
SECTION 265.2—SPECIFIC FUNCTIONS
DELEGATED TO BOARD EMPLOYEES
AND TO FEDERAL RESERVE BANKS
(c) The Director of the Division of Bank­
ing Supervision and Regulation (or in his ab­
sence, the Acting Director) is authorized:
He

*

*

(17) Under the provisions of section
17(A) (c)(2 ) of the Securities Exchange Act
of 1934, as amended, (15 U.S.C. 78 q - 1) to
accelerate the effective date of a registration
statement filed by a member State bank or a
subsidiary thereof, a bank holding company,
or a subsidiary of a bank holding company
which is a bank as defined in section 3(a) (6)
of that Act other than a bank specified in clause
(i) or (iii) of section 3(a) (34) (B) of that
Act (15 U.S.C. 78c) with respect to its transfer
agent activities.

PRINT ED I N N E W YORK

[Enc. Cir. No. 7767]