FINAL RULE--AMENDMENT TO REGULATION A.The Board of Governors has amended 12 C.F.R. Part 201, its Regulation A (Extensions of Credit by Federal Reserve Banks; Change in Discount Rate Discount Rate 1. The interest rate that an eligible depository institution is charged to borrow short-term funds directly from a Federal Reserve Bank.2. The interest rate used in determining the present value of future cash flows. Notes: 1. This type of borrowing from the Fed is fairly limited. Institutions will often seek other means of meeting short-term liquidity needs. ), to reflect its approval of an increase in the basic
discount rate at each Federal Reserve Bank. The Board acted on requests
submitted by the Boards of Directors of the twelve Federal Reserve
Banks.Effective November 16, 1999, 12 C.F.R. Part 201 is amended as follows. The rate changes for adjustment credit were effective on the dates specified in 12 C.F.R. 201.51. Part 201-Extensions of Credit by Federal Reserve Banks (Regulation A) 1. The authority citation for 12 C.F.R. Part 201 continues to read as follows: Authority: 12 U.S.C. 343 et seq et seq. et seq. (et seek) n. abbreviation for the Latin phrase et sequentes meaning "and the following." It is commonly used by lawyers to include numbered lists, pages or sections after the first number is stated, as in "the rules of the road are found in Vehicle Code Section 1204, et seq." (et seek) n. abbreviation for the Latin phrase et sequentes meaning "and the following." It is commonly used by lawyers to include numbered lists, pages or sections after the first number is stated, as in "the rules of the road are found in Vehicle Code Section 1204, et seq."., 347a, 347b, 347c, 347d, 348 et seq., 357, 374, 374a, and 461. 2. Section 201.51 is revised to read as follows: Section 201.51-Adjustment credit for depository institutions. The rates for adjustment credit provided to depository institutions under section 201.3(a) are: Federal Reserve Bank Rate Effective Boston 5.0 November 16, 1998 New York 5.0 November 18, 1998 Philadelphia 5.0 November 18, 1998 Cleveland 5.0 November 16, 1998 Richmond 5.0 November 16, 1998 Atlanta 5.0 November 17, 1998 Chicago 5.0 November 18, 1998 St. Louis 5.0 November 18, 1998 Minneapolis 5.0 November 18, 1998 Kansas City 5.0 November 16, 1998 Dallas 5.0 November 17, 1998 San Francisco 5.0 November 16, 1998 |
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