[Federal Register Volume 61, Number 63 (Monday, April 1, 1996)]
[Rules and Regulations]
[Page 14382]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-7684]



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FEDERAL RESERVE SYSTEM
FEDERAL RESERVE SYSTEM

12 CFR Part 219

[Regulation S; Docket No. R-0807]


Reimbursement for Providing Financial Records; Recordkeeping 
Requirements for Certain Financial Records

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Final rule; delay of effective date.

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SUMMARY: On January 3, 1995, the Board of Governors of the Federal 
Reserve System (Board) published a final rule that established Subparts 
A and B of Regulation S (60 FR 231). Subpart B cross-references the 
substantive provisions of a joint rule adopted by the Board and the 
Department of the Treasury on the same day. The joint rule requires 
enhanced recordkeeping related to certain funds transfers and 
transmittals of funds by financial institutions. The Board and the 
Department of the Treasury have delayed the effective date of the joint 
final rule until May 28, 1996, to provide financial institutions 
sufficient time to prepare to comply with the rule pending final action 
on the proposed amendments, which are published elsewhere in today's 
issue of the Federal Register. Because Subpart B of Regulation S relies 
on the joint final rule for its substantive provisions, its effective 
date is also delayed until May 28, 1996.

EFFECTIVE DATES: Effective April 1, 1996, the effective date for 12 CFR 
part 219, Subpart B, which was added at 60 FR 231 published on January 
3, 1995, is further delayed until May 28, 1996.

FOR FURTHER INFORMATION CONTACT: Louise L. Roseman, Associate Director, 
202/452-2789; Jeff Stehm, Manager, 202/452-2217; Darrell Mak, Financial 
Services Analyst, 202/452-3223, Fedwire Section, Division of Reserve 
Bank Operations and Payment Systems; Oliver Ireland, Associate General 
Counsel, 202/452-3625; or Elaine Boutilier, Senior Counsel 202/452-
2418, Legal Division, Board of Governors of the Federal Reserve System. 
For the hearing impaired only, Telecommunication Device for the Deaf 
(TDD), Dorothea Thompson, 202/452-3544.
    The effective date of 12 CFR part 219, Subpart B, added by the 
Board at 60 FR 231 on January 3, 1995, and delayed from January 1, 
1996, to April 1, 1996 (60 FR 44144, August 24, 1995), is further 
delayed until May 28, 1996.

    By order of the Board of Governors of the Federal Reserve 
System, March 26, 1996.
William W. Wiles,
Secretary to the Board.
[FR Doc. 96-7684 Filed 3-29-96; 8:45 a.m.]
BILLING CODE 6210-01-P