FINAL RULE--AMENDMENT TO REGULATION A.The Board of Governors is amending 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 March 21, 2000, 12 C.F.R. Part 201 is amended a·mend
v. a·mend·ed, a·mend·ing, a·mends
1. To change for the better; improve: amended the earlier proposal so as to make it more comprehensive.
2. as follows:
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--Adjustments 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 5.5 March 21, 2000 New York 5.5 March 21, 2000 Philadelphia 5.5 March 21, 2000 Cleveland 5.5 March 21, 2000 Richmond 5.5 March 21, 2000 Atlanta 5.5 March 21, 2000 Chicago 5.5 March 21, 2000 St. Louis 5.5 March 22, 2000 Minneapolis 5.5 March 21, 2000 Kansas City 5.5 March 21, 2000 Dallas 5.5 March 23, 2000 San Francisco 5.5 March 21, 2000