[Federal Register Volume 79, Number 43 (Wednesday, March 5, 2014)]
[Proposed Rules]
[Page 12414]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-04742]
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Proposed Rules
Federal Register
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This section of the FEDERAL REGISTER contains notices to the public of
the proposed issuance of rules and regulations. The purpose of these
notices is to give interested persons an opportunity to participate in
the rule making prior to the adoption of the final rules.
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Federal Register / Vol. 79, No. 43 / Wednesday, March 5, 2014 /
Proposed Rules
[[Page 12414]]
FEDERAL RESERVE SYSTEM
12 CFR Chapter II
[Docket No. R-1479 RIN 7100-AE-10]
Complementary Activities, Merchant Banking Activities, and Other
Activities of Financial Holding Companies Related to Physical
Commodities
AGENCY: Board of Governors of the Federal Reserve System.
ACTION: Advance notice of proposed rulemaking; extension of comment
period.
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SUMMARY: On January 21, 2014, the Board of Governors of the Federal
Reserve System (Board) published in the Federal Register an advance
notice of proposed rulemaking inviting public comment on various issues
related to physical commodity activities conducted by financial holding
companies and the restrictions imposed on these activities to ensure
they are conducted in a safe and sound manner and consistent with
applicable law.
Due to the range and complexity of the issues addressed in the
advance notice of proposed rulemaking, the Board has determined that an
extension of the public comment period until April 16, 2014, is
appropriate. This action will allow interested persons additional time
to analyze the notice and prepare their comments.
DATES: Comments on the proposed rule must be received on or before
April 16, 2014.
ADDRESSES: You may submit comments by any of the methods identified in
the advance notice of proposed rulemaking.\1\ Please submit your
comments using only one method.
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\1\ See Complementary Activities, Merchant Banking Activities,
and Other Activities of Financial Holding Companies related to
Physical Commodities, 79 FR 3329 (Jan. 21, 2014).
FOR FURTHER INFORMATION CONTACT: Laurie Schaffer, Associate General
Counsel, (202) 452-2272, Michael Waldron, Special Counsel, (202) 452-
2798; Benjamin McDonough, Senior Counsel, (202) 452-2036, April Snyder,
Senior Counsel, (202) 452-3099, or Will Giles, Counsel, (202) 452-3351,
Legal Division; or Mark Van Der Weide, Deputy Director, (202) 452-2263,
Timothy Clark, Senior Associate Director, (202) 452-5264, Todd
Vermilyea, Senior Associate Director, (202) 912-4310, or Robert Brooks,
Senior Supervisory Financial Analyst, (202) 452-3103, Division of
Banking Supervision and Regulation. Board of Governors of the Federal
Reserve System, 20th and C Streets, NW., Washington, DC 20551.
Telecommunications Device for the Deaf (TDD) users may contact (202-
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263-4869).
SUPPLEMENTARY INFORMATION: On January 21, 2014, the Board published in
the Federal Register (79 FR 3329) an advance notice of proposed
rulemaking (ANPR) inviting public comment on various issues related to
physical commodity activities conducted by financial holding companies
(FHCs) and the restrictions imposed on these activities to ensure they
are conducted in a safe and sound manner and consistent with applicable
law. The ANPR is designed to elicit views from the public on the risks
and benefits of allowing FHCs to conduct physical commodity activities
under the various provisions of the Bank Holding Company Act, whether
risks to the safety and soundness of a FHC and its affiliated insured
depository institutions and to the financial system warrant Board
action to impose limitations on the scope of authorized activities and/
or the manner in which those activities are conducted, and if so, what
those limits should be. Once the Board has completed its review of this
information, it will consider what further actions, including a
rulemaking, are warranted.
In recognition of the complexities of the issues addressed and the
variety of considerations involved with possible further actions, the
Board requested that commenters respond to numerous questions. The ANPR
stated that the public comment period would close on March 17, 2014.\2\
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\2\ Id.
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The Board has received a request from the public for an extension
of the comment period to allow for additional time for comments related
to the provisions of the proposed rule.\3\ The Board believes that the
additional period for comment will facilitate public comment on the
questions posed by the Board in the ANPR. Therefore, the Board is
extending the end of the comment period for the ANPR from March 17,
2014, to April 16, 2014.
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\3\ See Comment letter to the Board from the American Bankers
Association et al. (Feb. 7, 2014).
By order of the Board of Governors of the Federal Reserve
System, acting through the Secretary of the Board under delegated
authority, February 27, 2014.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2014-04742 Filed 3-3-14; 8:45 am]
BILLING CODE 6210-01-P