[Federal Register Volume 71, Number 228 (Tuesday, November 28, 2006)]
[Notices]
[Pages 68817-68818]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E6-20048]
-----------------------------------------------------------------------
FEDERAL RESERVE SYSTEM
[Docket No. OP-1257]
Consultation Paper on Intraday Liquidity Management and Payment
System Risk Policy
AGENCY: Board of Governors of the Federal Reserve System.
ACTION: Notice; extension of comment period.
-----------------------------------------------------------------------
SUMMARY: On June 21, 2006, the Board of Governors of the Federal
Reserve System (``Board'') published for public comment the
Consultation paper on intraday liquidity management and payment system
risk policy. The Board is extending the comment period for the
consultation paper by 90 days.
DATES: Comments must be received on or before March 15, 2007.
ADDRESSES: You may submit comments, identified by Docket No. OP-1257,
by any of the following methods:
Agency Web site: http://www.federalreserve.gov. Follow the
instructions for submitting comments at http://www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm.
Federal eRulemaking Portal: http://www.regulations.gov.
Follow the instructions for submitting comments.
E-mail: [email protected]. Include the
docket number in the subject line of the message.
FAX: 202/452-3819 or 202/452-3102.
Mail: Jennifer J. Johnson, Secretary, Board of Governors
of the Federal Reserve System, 20th Street and Constitution Avenue,
NW., Washington, DC 20551.
All public comments are available from the Board's Web site at
http://www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm as
submitted, unless modified for technical reasons. Accordingly, your
comments will not be edited to remove any identifying or contact
information. Public comments may also be viewed electronically or in
paper in Room MP-500 of the Board's Martin Building (20th and C
Streets, NW.) between 9 a.m. and 5 p.m. on weekdays.
FOR FURTHER INFORMATION CONTACT: Jeffrey Marquardt, Deputy Director
(202-452-2360), Lisa Hoskins, Assistant Director (202-452-3437), or
Susan Foley, Manager (202-452-3596), Division of Reserve Bank
Operations and Payment Systems, Board of Governors of the Federal
Reserve System; for users of Telecommunications Device for the Deaf
(``TDD'') only, contact (202) 263-4869.
SUPPLEMENTARY INFORMATION: On June 21, 2006, the Board published for
public comment the Consultation paper on intraday liquidity management
and payment system risk policy (71 FR 35679). The consultation paper
sought information from financial institutions and other interested
parties on their experience in managing intraday
[[Page 68818]]
liquidity, credit, and operational risks related to Fedwire funds
transfers, especially late-day transfers. The paper also requested
views on potential changes in market practices, operations, and the
Board's Payments System Risk policy that could reduce one or more of
these risks. The consultation paper stated that comments must be
submitted on or before December 15, 2006.
The Board received a letter from an industry group, whose members
include a number of large U.S. depository institutions and foreign
banking organizations, requesting, on behalf of that group and its
members, an extension of the comment period. Based on interactions the
Board has had with this group, its members, and other interested
parties, the Board believes that an extension would enable these
organizations to investigate further the drivers of their liquidity
management practices and late-day Fedwire funds transfers. The
extension will also allow a range of organizations more time to provide
a thorough response to the consultation paper. Consequently, the Board
has decided to extend the comment period on the consultation paper by
90 days. The comment period will now end March 15, 2007.
By order of the Board of Governors of the Federal Reserve
System, acting through the Secretary of the Board under delegated
authority, November 21, 2006.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. E6-20048 Filed 11-27-06; 8:45 am]
BILLING CODE 6210-01-P