Printer Friendly

Revision and interpretation of Regulation K. (Announcements).

The Federal Reserve Board on January 6, 2003, approved revisions to Subpart D of Regulation K, governing international banking operations.

The final rule reduces the regulatory burden on banking institutions engaged in international lending by simplifying the requirements concerning accounting for fees on international loans to make the regulation consistent with generally accepted accounting principles (GAAP).

The final rule will become effective thirty days after publication in the Federal Register, which is expected shortly.

The Federal Reserve Board on February 7, 2003, issued an interpretation concerning securities underwriting by banking organizations that are subject to the Bank Holding Company Act.

The interpretation clarifies that a banking organization that wishes to engage in underwriting securities that are to be distributed in the United States must be either a financial holding company or have authority to engage in underwriting activity under section 4(c)(8) of the Bank Holding Company Act.
COPYRIGHT 2003 Board of Governors of the Federal Reserve System
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2003, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:rules govern accounting practices and securities trading by banks
Publication:Federal Reserve Bulletin
Article Type:Brief Article
Geographic Code:1USA
Date:Mar 1, 2003
Words:149
Previous Article:Adoption of final rule implementing Sarbanes-Oxley Act. (Announcements).
Next Article:Reauthorization of the National Flood Insurance Program. (Announcements).
Topics:


Related Articles
Statement by John P. LaWare, Member, Board of Governors of the Federal Reserve System, and Chairman, Federal Financial Institutions Examination...
Statement by John P. LaWare, Member, Board of Governors of the Federal Reserve System, before the Subcommittee on Telecommunications and Finance of...
Statements to Congress.
Interagency guidance on compliance with consumer privacy regulations. (Announcements).
Announcements.
Release of minutes of discount rate meetings. (Announcements).
Publication of the December 2002 update to the Bank Holding Company Supervision Manual. (Announcements).
Publication of Revised Capital Framework and U.S. implementation plans.
December 2004 update to the Bank Holding Company Supervision Manual.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters