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Inactive Financial Institution Letters
May 29, 1996
|TO:|| CHIEF EXECUTIVE OFFICER
|SUBJECT:|| Advance Notice of Proposed Rulemaking
and Confirmation Requirements for Securities Transactions
(Part 344 of the FDIC's Rules and Regulations)
| The FDIC Board of Directors is issuing for public comment
an advance notice of proposed rulemaking amending the regulations
concerning its recordkeeping and confirmation requirements
for securities transactions. The regulations now in effect
were issued by the FDIC in 1979. Since then, the types of
securities activities occurring on bank premises have changed
This advance notice of proposed rulemaking gives the public an opportunity to comment on the relevance of the current regulations to various bank securities activities. It also invites comments about the types of information a customer should receive when completing a securities transaction on bank premises.
The Federal Reserve Board and the Office of the Comptroller of the Currency have already proposed amendments to their recordkeeping and confirmation requirements for securities transactions.
A copy of the advance notice is attached. Written comments are due by June 24, 1996. For more information, please call Patrick J. McCarty, Counsel in the Legal Division (202-898-8708), Curtis Vaughn, Examination Specialist in the Division of Supervision (202-898-6759), or John Harvey, Review Examiner (Trust) (202-898-6762).
Distribution: FDIC-Supervised Banks (Commercial and Savings)
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