Summary of Federal Reserve
Regulations
A
Extensions of Credit by Federal Reserve Banks
Governs borrowing by depository institutions at the Federal Reserve discount window
B
Equal Credit Opportunity
Prohibits lenders from discriminating against credit applicants, establishes guidelines
for gathering and evaluating credit information, and requires written notification when
credit is denied
C
Home Mortgage Disclosure
Requires certain mortgage lenders to disclose data regarding their lending patterns
D
Reserve Requirements of Depository Institutions
Sets uniform requirements for all depository institutions to maintain reserve balances
either with their Federal Reserve Bank or as cash in their vaults
E
Electronic Funds Transfers
Establishes the rights, liabilities, and responsibilities of parties in electronic funds
transfers and protects consumers when they use such systems
F
Limitations on Interbank Liabilities
Prescribes standards to limit the risks posed by obligations of insured depository
institutions to other depository institutions
G
Securities Credit by Persons other than Banks, Brokers, or Dealers
Governs extension of credit by parties other than banks, brokers, or dealers to finance
the purchase or the carrying of margin securities; see also regulations T, U, and X
H
Membership of State Banking Institutions in the Federal Reserve
System
Defines the requirements for membership by state-chartered banks in the Federal Reserve
System and establishes minimum levels for the ratio of capital to assets to be maintained
by state member banks
I
Issue and Cancellation of Capital Stock of Federal Reserve Banks
Sets forth stock-subscription requirements for all banks joining the Federal Reserve
System
J
Collection of Checks and Other Items by Federal Reserve Banks and
Funds Transfers through Fedwire
Establishes procedures, duties, and responsibilities among (1) Federal Reserve Banks, (2)
the senders and payors of checks and other items, and (3) the senders and recipients of
wire transfers of funds
K
International Banking Operations
Governs the international banking operations of U.S. banking organizations and the
operations of foreign banks in the United States
L
Management Official Interlocks
Restricts the management relationships that an official in one depository institution may
have with other depository institutions
M
Consumer Leasing
Implements the consumer leasing provisions of the Truth in Lending Act by requiring
meaningful disclosure of leasing terms
N
Relations with Foreign Banks and Bankers
Governs relationships and transactions between Federal Reserve Banks and foreign banks,
bankers, or governments
O
Loans to Executive Officers, Directors, and Principal Shareholders
of Member Banks
Restricts credit that a member bank may extend to its executive officers, directors, and
principal shareholders and their related interests
P
Privacy of Consumer Financial Information
Implements the provisions of the Gramm-Leach-Bliley Act that prohibit a
financial institution from disclosing nonpublic personal information to
third parties that are not affiliated with the financial institution
Q
Prohibition against Payment of Interest on Demand Deposits
Prohibits member banks from paying interest on demand deposits (for example, checking
accounts)
R
Relationships with Dealers in Securities under Section 32 of the
Banking Act of 1933
Restricts employment relations between securities dealers and member banks to avoid
conflict of interest, collusion, or undue influence on member bank investment policies or
advice to customers
S
Reimbursement to Financial Institutions for Assembling or Providing
Financial Records
Establishes rates and conditions for reimbursement to financial institutions for providing
customer records to a government authority
T
Credit by Brokers and Dealers
Governs extension of credit by securities brokers and dealers, including all members of
national securities exchanges; see also regulations G, U, and X
U
Credit by Banks for Purchasing or Carrying Margin Stocks
Governs extension of credit by banks to finance the purchase or the carrying of margin
securities; see also regulations G, T, and X
V
Loan Guarantees for Defense Production (Dormant)
Facilitates the financing of contracts deemed necessary to national defense production
W
Transactions between Member Banks and Their Affiliates
Implements sections 23A and 23B of the Federal Reserve Act, which establish
certain restrictions on and requirements for transactions between a member
bank and its affiliates
X
Borrowers of Securities Credit
Extends to borrowers who are subject to U.S. laws the provisions of regulations G, T, and
U for obtaining credit within or outside the United States for the purpose of purchasing
securities
Y
Bank Holding Companies and Change in Bank Control
Governs the bank and nonbank expansion of bank holding companies, the divestiture of
impermissible nonbank interests, and the acquisition of a bank by individuals
Z
Truth in Lending
Prescribes uniform methods for computing the cost of credit, for disclosing credit terms,
and for resolving errors on certain types of credit accounts
AA
Unfair or Deceptive Acts or Practices
Establishes consumer complaint procedures and defines unfair or deceptive practices in
extending credit to consumers
BB
Community Reinvestment
Implements the Community Reinvestment Act and encourages banks to help meet the credit
needs of their communities
CC
Availability of Funds and Collection of Checks
Governs the availability of funds deposited in checking accounts and the collection and
return of checks
DD
Truth in Savings
Requires depository institutions to provide disclosures to enable consumers to make
meaningful comparisons of deposit accounts
EE
Netting Eligibility for Financial Institutions
Defines financial institutions to be covered by statutory provisions regarding netting
contracts--that is, contracts in which the parties agree to pay or receive the net, rather
than the gross, payment due
FF
Obtaining and Using Medical Information in Connection with Credit
Creates exceptions to the statutory prohibition against obtaining or using
medical information in connection with determining eligibility for credit
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The above information was obtained from The Board of Governor of the Federal Reserve
System at
http://www.federalreserve.gov/regulations/default.htm. |
