[Federal Register Volume 63, Number 226 (Tuesday, November 24, 1998)]
[Rules and Regulations]
[Page 64841]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-31354]



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  Federal Register / Vol. 63, No. 226 / Tuesday, November 24, 1998 / 
Rules and Regulations  

[[Page 64841]]


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FEDERAL RESERVE SYSTEM

12 CFR Part 204

[Regulation D; Docket No. R-1024]


Reserve Requirements of Depository Institutions

AGENCY: Board of Governors of the Federal Reserve System (Board).

ACTION: Final rule; technical amendment.

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SUMMARY: The Board is amending Regulation D (Reserve Requirements of 
Depository Institutions) to remove the definition of De novo depository 
institution. The definition is not used in the Regulation.

EFFECTIVE DATES: November 24, 1998.

FOR FURTHER INFORMATION CONTACT: Rick Heyke, Senior Attorney, Legal 
Division (202/452-3688). For the hearing impaired only, 
Telecommunications Device for the Deaf (TDD), Diane Jenkins (202/452-
3544).

SUPPLEMENTARY INFORMATION:

Background

    Section 204.2(p) of the Board's Regulation D (12 CFR part 204) 
defines De novo depository institution to mean a depository institution 
that was not in business on July 1, 1979, and was not the successor by 
merger or consolidation to a depository institution that was in 
business before the merger or consolidation. The definition is not used 
in the Regulation. Accordingly, the Board is removing it.

List of Subjects in 12 CFR Part 204

    Banks, banking, Federal Reserve System, Reporting and recordkeeping 
requirements.

    For the reasons set forth in the preamble, the Board is amending 
part 204 in chapter II of title 12 of the Code of Federal Regulations 
as follows:

PART 204--RESERVE REQUIREMENTS OF DEPOSITORY INSTITUTIONS 
(REGULATION D)

    1.The authority citation for part 204 continues to read as follows:

    Authority: 12 U.S.C. 248(a), 248(c), 371a, 461, 601, 611, and 
3105.

    2. In Sec. 204.2, paragraph (p) is removed and reserved.

    By order of the Secretary of the Board, acting pursuant to 
delegated authority for the Board of Governors of the Federal 
Reserve System, November 18, 1998.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 98-31354 Filed 11-23-98; 8:45 am]
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