Full text of Federal Reserve Bank of New York Circulars : 9528. Bank Holding Companies

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FEDERAL RESERVE BANK
OF NEW YORK

I- Circular No. 9528
July 20, 1983

~l

j

BANK HOLDING COMPANIES
Proposed Revision of Regulation Y — Extension of Comment Period

To All Bank Holding Companies, and Others Concerned,
in the Second Federal Reserve District:

Following is the text of a statement issued by the Board of Governors of the Federal Reserve System:

The Federal Reserve Board has extended the time for comment on its proposed revision of Regulation Y — Bank
Holding Companies and Change in Bank Control — to August 1, 1983.
In May the Board requested comment, through July 18, 1983, on a proposed revision of Regulation Y as part of the
Board’s review, simplification and modernization of all of its regulations. The Board extended the comment period in
response to requests.
The complete text of the proposed revision of Regulation Y, which was sent to bank holding companies,
branches and agencies of foreign banks, and certain investment companies in this District with our Circular
No. 9502, dated May 27, 1983, was published in the Federal Register of May 25; single copies of that text may be
obtained from our Circulars Division (Tel. No. 212-791-5216).
Printed on the reverse side is the text of the Board’s Order in this matter. Comments on the proposed revision
may now be submitted through August 1, 1983, and can be sent to our Domestic Banking Applications
Department.




A

nthony

M.

S olom on,

President.

(OVER)

FEDERAL RESERVE SYSTEM
REGULATION Y
(12 C .F.R . Part 225)
(DOCKET NO. R-0470)

BANK HOLDING COMPANIES AND CHANGE IN BANK CONTROL
Proposed Revision o f Regulation Y

AGENCY:

B o a r d of G o v e r n o r s

of

the F e d e r a l

ACTION:

E x t e n s i o n of c o m m e n t period.

Reserve

System.

SUMMARY:
T he B o a r d of G o v e r n o r s of the F e d e r a l R e s e r v e S y s t e m
h as e x t e n d e d the p e r i o d for r e c e i p t of p u b l i c c o m m e n t u n t i l
A u g u s t 1, 1983, on the p r o p o s e d r e v i s i o n of R e g u l a t i o n Y
(Docket No. R-0470), its r e g u l a t i o n i m p l e m e n t i n g the B a n k
H o l d i n g C o m p a n y A ct of 1956, as a m e n d e d (12 U.S.C. 1841
et s e q . ) and the C h a n g e in Bank C o n t r o l A c t of 1978
TT2~U7S.C. 1 8 1 7 ( j ) ).
DATE:

Comments

must be

received by August

1, 1983.
•
ADDRESS:
All comments, w h i c h s h o u l d refer to D o c k e t
No. R-0470, s h o u l d be m a i l e d to the S e c r etary, B o a r d of
G o v e r n o r s of the F e d e r a l R e s e r v e System, W a s h i n g t o n , D.C.
20551, or d e l i v e r e d to Roo m B-2223, 20th & C o n s t i t u t i o n A v e nue,
N . W . , W a s h i n g t o n , D.C., b e t w e e n 8:45 a.m. and 5:15 p.m.
weekdays.
C o m m e n t s m a y be i n s p e c t e d in R o o m B - 1 1 2 2 b e t w e e n
8:45 a.m. and 5:15 p.m. w e e k d a y s .
F O R F U R T H E R I N F O R M A T I O N CO N T A C T :
Secretary (202/452-3259).

J a m e s McAfee,

Associate

SUPPLEMENTARY INFORMATION:
On M a y 19, 1983, the B o a r d
r e q u e s t e d c o m m e n t b y J u l y 18, 1983, on its p r o p o s e d r e v i s i o n of
R e g u l a t i o n Y.
The p r o p o s e d r e v i s i o n r e o r g a n i z e d the
r egulation, i n c o r p o r a t e d s t a t u t o r y m a t e r i a l and n u m e r o u s B o a r d
i n t e r p r e t a t i o n s into the regu l a t i o n , and r e v i s e d the p r o c e d u r e s
for fili n g a nd p r o c e s s i n g a p p l i c a t i o n s r e q u i r e d u n d e r the
regulation.
T he A m e r i c a n B a n k e r s A s s o c i a t i o n a nd the
A s s o c i a t i o n of Bank H o l d i n g C o m p a n i e s r e q u e s t e d an e x t e n s i o n of
the c o m m e n t p e r i o d on the p r o p o s a l in o r d e r to p r o v i d e
i n t e r e s t e d p a r t i e s w i t h a d d i t i o n a l time in w h i c h to p r e s e n t
their views.
In light of the e x t e n s i v e n a t u r e of the r e v i s i o n s
and the s i g n i f i c a n t issues i n v o l v e d in the p r o p o s e d revision,
and in o r d e r to e n c o u r a g e p u b l i c p a r t i c i p a t i o n in this matter,
the c o m m e n t p e r i o d has b e e n e x t e n d e d to A u g u s t 1, 1983.
- L i s t of s u b j e c t s in 12 C F R Part 225:
Banks,
F e d e r a l R e s e r v e System; H o l d i n g c o m p a n i e s ; R e p o r t i n g
r e q u i r e m e n t s ; Secu r i t i e s .
By o r d e r of the B o a r d of G o v e r n o r s , a c t i n g
S e c r e t a r y u n d e r d e l e g a t e d auth o r i t y , e f f e c t i v e J u l y




(SIGNED) James McAfee

Associate

James McAfee
S e c r e t a r y of

the B o a r d

banking;

t h r o u g h its
13, 1983.