Retail Foreign Exchange Transactions

Document ID: OCC-2011-0021-0001
Document Type: Rule
Agency: Comptroller Of The Currency
Topics: Banks and Banking, Consumer Protection, Definitions, Foreign Currencies, National Banks, Reporting and Recordkeeping Requirements
Federal Register Number: 2011-23033
CFR Citation: 12 CFR Part 48
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Details Information

Abstract: The Office of the Comptroller of the Currency (OCC) is adopting an interim final rule authorizing Federal savings associations and their operating subsidiaries to engage in off-exchange transactions in foreign currency with retail customers, subject to the requirements enumerated in the OCC's retail forex rule. The rule implements the provision of the Dodd-Frank Wall Street Reform and Consumer Protection Act requiring that these transactions be conducted by national banks and Federal savings associations (and their respective operating subsidiaries) only pursuant to an authorizing regulation issued by the OCC. It is substantively the same as the rule the OCC has adopted with respect to national banks and their operating subsidiaries.
Document Subtype: Interim Final Rule
Received Date: September 12 2011, at 12:00 AM Eastern Daylight Time
Start-End Page: 56094 - 56097
Comment Start Date: September 12 2011, at 12:00 AM Eastern Standard Time
Comment Due Date: November 14 2011, at 11:59 PM Eastern Standard Time

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