Final rule--amendment to Regulation A. (Legal Developments).The Board of Governors is amending 12 C.F.R. Part 201, its Regulation A (Extensions of Credit by Federal Reserve Banks; Change in Discount Rate), to reflect its approval of a decrease 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 December December: see month. 11, 2001, 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--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 1.25 December 11, 2001 New York 1.25 December 11, 2001 Philadelphia 1.25 December 11, 2001 Cleveland 1.25 December 13, 2001 Richmond 1.25 December 13, 2001 Atlanta 1.25 December 13, 2001 Chicago 1.25 December 11, 2001 St. Louis 1.25 December 12, 2001 Minneapolis 1.25 December 13, 2001 Kansas City 1.25 December 13, 2001 Dallas 1.25 December 13, 2001 San Francisco 1.25 December 11, 2001