Final rule—amendment to regulation A - Legal Developments - Brief Article

Federal Reserve Bulletin, Nov, 2001

The Board of Governors is amending 12 C.F.R. Part 201, its Regulation A (Extensions of Credit by Federal Reserve Banks; Change in Discount Rate), to reflect its approval of a decrease in the basic discount rate at each Federal Reserve Bank. The Board acted on requests submitted by the Boards of Directors of the twelve Federal Reserve Banks.

Effective September 17, 2001, 12 C.F.R. Part 201 is amended as follows:

Part 201--Extensions of Credit by Federal Reserve Banks (Regulation A)

1. The authority citation for 12 C.F.R. Part 201 continues to read as follows:

Authority: 12 U.S.C. 343 et seq., 347a, 347b, 347c, 347d, 348 et seq., 357, 374, 374a and 461.

2. Section 201.51 is revised to read as follows:

Section 201.51--Adjustment credit for depository institutions.

The rates for adjustment credit provided to depository institutions under section 201.3(a) are:

Federal Reserve Bank   Rate   Effective

Boston                  2.5   September 17, 2001
New York                2.5   September 17, 2001
Philadelphia            2.5   September 17, 2001
Cleveland               2.5   September 17, 2001
Richmond                2.5   September 17, 2001
Atlanta                 2.5   September 17, 2001
Chicago                 2.5   September 17, 2001
St. Louis               2.5   September 18, 2001
Minneapolis             2.5   September 17, 2001
Kansas City             2.5   September 17, 2001
Dallas                  2.5   September 17, 2001
San Francisco           2.5   September 17, 2001