Membership of State Banking Institutions in the Federal Reserve System; Recordkeeping and Confirmation of Certain Securities Transactions Effected by State Member Banks — 1995-12-26 [95-31234]

The Board of Governors of the Federal Reserve System is proposing amendments to Regulation H pertaining to the recordkeeping and confirmation of certain securities transactions. The amendments would accommodate developments in the securities markets by adding certain yield-related confirmation disclosure requirements for transactions involving debt and asset-backed securities effected by State member banks for customers, and providing for three day settlement of those transactions. The proposed amendments also would clarify that State member banks that effect de minimis government securities brokerage transactions and are exempt from registration under Department of the Treasury regulations, also are exempt from Regulation H. Finally, the proposed amendments address the minimum recordkeeping requirements for State member banks exempt from the paragraph, and include several new definitions and various language edits.