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FEDERAL RESERVE BANK OF NEW YORK November 7, 1994 REPEAL OF CALL REPORT PUBLICATION REQUIREMENTS UNDER FEDERAL LAW To the Chief Executive Officer o f Each State Member Bank in the Second Federal Reserve District: On September 23, 1994, President Clinton signed the Riegle Community Developm ent and Regulatory Improvement Act o f 1994 which contains provisions to reduce the regulatory burden. Section 308 o f this Act repeals the portion o f Section 9 o f the Federal Reserve Act that required state member banks to publish their Reports o f Condition (i.e., those presented in Federal Financial Institutions Examination Council (FFIEC) reports numbered FFIEC 031-034). Staff o f the Federal Reserve Board is in the process o f amending Section 208.10 o f the Board’s Regulation H to bring it into conformance with this change in the law. The federal requirement that state member banks must publish their Reports o f Condition terminated with the President’s signing o f the legislation. Accordingly, your bank is no longer required, by Federal Law, to publish its Reports o f Condition, including the September 30, 1994 Report. It is important to note, however, that your bank may still be required to publish its Reports o f Condition under state law. Please refer to the laws o f the state in which your bank is chartered or to your state supervisory authority to determine whether your bank is subject to such a requirement. In addition, your bank will continue to be required, under Section 208.17 o f the Board’s Regulation H, to advise its shareholders, customers, and the general public o f the availability o f year-end Reports o f Condition and Income and other financial information. S u s a n F. M o o r e , Vice President.
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