The Federal Reserve on Thursday announced a final rule that makes technical, clarifying updates to the Federal Open Market Committee’s rules describing its Freedom of Information Act (FOIA) procedures. The final rule is generally similar to the proposal from October 2020, with a few changes in response to public comments.
The final rule implements non-substantive updates to the Committee’s FOIA regulation to be consistent with the Committee’s current practices and to incorporate recent changes in law and guidance. The revisions to the final rule also clarify terms and help users more easily navigate the process of filing a FOIA request. Additionally, the final rule incorporates formatting and language from the Federal Reserve Board’s revisions to its own FOIA regulation, which became effective October 15, 2020.
The final rule is effective 30 days after publication in the Federal Register.