[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]


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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.

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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