The Federal Reserve Bank of New York works to promote sound and well-functioning financial systems and markets through its provision of industry and payment services, advancement of infrastructure reform in key markets and training and educational support to international institutions.
The Outreach and Education function engages, empowers and educates the Second District communities that the Bank serves, especially civic leaders, students, educators, small business owners, policymakers and the general public. It furthers the Bank's commitment to the region by listening to the communities we serve and leveraging our unique attributes to positively impact school and university programs, as well as analysis and research.
To All Depository Institutions in the Second Federal Reserve District, and Others Concerned:
The text of the proposal by the Board of Governors of the Federal Reserve System to amend Subpart B of its Regulation S, "Reimbursement for Providing Financial Records; Recordkeeping Requirements for Certain Financial Records," has been published in the Federal Register of August 21. The proposed amendment would clarify that Regulation S does not apply to any person or transaction or class of persons or transactions that the Treasury has exempted from the joint rule that was adopted by the Board and the Treasury on May 28, 1996.
Comments on the proposal should be submitted by September 20, and may be sent to the Board of Governors, as specified in the Board's notice. Questions regarding this matter may be directed to Raleigh M. Tozer.