Recordkeeping and Confirmation of Certain Securities Transactions
Amendments effective April 1, 1997
To All Depository Institutions and Others Concerned in the Second Federal Reserve District:
The Board of Governors of the Federal Reserve System has adopted final amendments, effective April 1, 1997, to its Regulation H Membership of State Banking Institutions in the Federal Reserve System pertaining to the recordkeeping and confirmation of certain securities transactions. The amendments are part of an interagency effort to update the respective regulations of the Board, the OCC, and the FDIC regarding securities transactions for customers in trust departments and in other areas of the bank. Adoption of the amendments will provide continued consistency among the regulations of the agencies and parity with securities industry practices in these important areas.
A copy of the amendments to Regulation H, as published in the Federal Register of March 5, is available as a (pdf) file. Questions on this matter may be directed, at this Bank, to Brian L. Peters, Assistant Vice President.