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Thursday, September 18, 2014

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Circular Letters

Circular Letter 5595

July 8, 2003

To: All Member Banks and Others Concerned in the Third Federal Reserve District

Attention: Chief Executive Officer and Chief Compliance Officer

Subject: Regulation Y (12 CFR Part 225) - Final Rule

Summary:

The Federal Reserve Board has announced its approval of a final rule that modifies Regulation Y to allow bank holding companies engaged in permissible derivatives activities to transfer title to commodities underlying derivative contracts on an instantaneous, pass-through basis.

The Board's Notice, which was published in the Federal Register for July 3, 2003, is attached PDF Icon (140 KB, 8 pages).

Date: The final rule is effective August 4, 2003.

For Further Information: William L. Gaunt, Assistant Vice President (215) 574-6167, or James D. DePowell, Manager (215) 574-4153, Supervision, Regulation & Credit. For users of Telecommunications Devices for the Deaf (TDD) only, contact (202) 263-4869.