The Federal Reserve Board on Monday finalized a technical rule that will streamline reporting requirements for member banks related to their subscriptions to Federal Reserve Bank capital stock. The final rule is substantially similar to the proposal.
In particular, the final rule amends Regulation I to reduce the quarterly reporting burden for member banks by automating the application process for adjusting their subscriptions to Federal Reserve Bank capital stock, except in the context of mergers.
The rule will be effective 30 days after publication in the Federal Register.
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