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FINAL RULE--AMENDMENT TO REGULATION A.



The Board of Governors has amended a·mend  
v. a·mend·ed, a·mend·ing, a·mends

v.tr.
1. To change for the better; improve: amended the earlier proposal so as to make it more comprehensive.

2.
 12 C.F.R. Part 201, its Regulation A (Extensions of Credit by Federal Reserve Banks), 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 February February: see month.  2, 2000, 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 Citation

(foaled 1945) U.S. Thoroughbred racehorse. In four seasons he won 32 of 45 races, finished second in ten, and third in two. He won the 1948 Triple Crown, and became the first horse to win $1 million. He set a world record in 1950 by running a mile in 1:33 3/5.
 for 12 C.F.R. Part 201 continues to read as follows:

Authority: 12 U.S.C. 343 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 ., 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 Depository institution

A financial institution that obtains its funds mainly through deposits from the public. This includes commercial banks, savings and loan associations, savings banks and credit unions.
.
The rates for adjustment credit provided to depository
institutions under section 201.3(a) are:

Federal Reserve Bank   Rate   Effective

Boston                 5.25   February 2, 2000
New York               5.25   February 2, 2000
Philadelphia           5.25   February 2, 2000
Cleveland              5.25   February 2, 2000
Richmond               5.25   February 2, 2000
Atlanta                5.25   February 2, 2000
Chicago                5.25   February 2, 2000
St. Louis              5.25   February 2, 2000
Minneapolis            5.25   February 3, 2000
Kansas City            5.25   February 2, 2000
Dallas                 5.25   February 4, 2000
San Francisco          5.25   February 2, 2000


ORDERS ISSUED UNDER INTERNATIONAL BANKING ACT

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Publication:Federal Reserve Bulletin
Article Type:Brief Article
Geographic Code:1USA
Date:Apr 1, 2000
Words:263
Previous Article:Minutes of the Meeting of the Federal Open Market Committee Held on December 21, 1999.
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