[Federal Register Volume 63, Number 226 (Tuesday, November 24, 1998)]
[Rules and Regulations]
[Page 64841]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-31354]
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Rules and Regulations
Federal Register
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This section of the FEDERAL REGISTER contains regulatory documents
having general applicability and legal effect, most of which are keyed
to and codified in the Code of Federal Regulations, which is published
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Federal Register / Vol. 63, No. 226 / Tuesday, November 24, 1998 /
Rules and Regulations
[[Page 64841]]
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FEDERAL RESERVE SYSTEM
12 CFR Part 204
[Regulation D; Docket No. R-1024]
Reserve Requirements of Depository Institutions
AGENCY: Board of Governors of the Federal Reserve System (Board).
ACTION: Final rule; technical amendment.
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SUMMARY: The Board is amending Regulation D (Reserve Requirements of
Depository Institutions) to remove the definition of De novo depository
institution. The definition is not used in the Regulation.
EFFECTIVE DATES: November 24, 1998.
FOR FURTHER INFORMATION CONTACT: Rick Heyke, Senior Attorney, Legal
Division (202/452-3688). For the hearing impaired only,
Telecommunications Device for the Deaf (TDD), Diane Jenkins (202/452-
3544).
SUPPLEMENTARY INFORMATION:
Background
Section 204.2(p) of the Board's Regulation D (12 CFR part 204)
defines De novo depository institution to mean a depository institution
that was not in business on July 1, 1979, and was not the successor by
merger or consolidation to a depository institution that was in
business before the merger or consolidation. The definition is not used
in the Regulation. Accordingly, the Board is removing it.
List of Subjects in 12 CFR Part 204
Banks, banking, Federal Reserve System, Reporting and recordkeeping
requirements.
For the reasons set forth in the preamble, the Board is amending
part 204 in chapter II of title 12 of the Code of Federal Regulations
as follows:
PART 204--RESERVE REQUIREMENTS OF DEPOSITORY INSTITUTIONS
(REGULATION D)
1.The authority citation for part 204 continues to read as follows:
Authority: 12 U.S.C. 248(a), 248(c), 371a, 461, 601, 611, and
3105.
2. In Sec. 204.2, paragraph (p) is removed and reserved.
By order of the Secretary of the Board, acting pursuant to
delegated authority for the Board of Governors of the Federal
Reserve System, November 18, 1998.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 98-31354 Filed 11-23-98; 8:45 am]
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