Membership of State Banking Institutions in the Federal Reserve System; Miscellaneous Interpretations — 1997-03-31 [97-7585]

The Board of Governors of the Federal Reserve System is proposing to amend Subpart A of Regulation H, regarding the general provisions for membership in the Federal Reserve System, and Subpart E of Regulation H, regarding Interpretations, in order to reduce regulatory burden and simplify and update requirements. The proposal would also eliminate several obsolete interpretations. The Board is also reissuing existing Subparts B and C. Existing Subparts B and C would not be significantly amended but would be relettered (as Subparts D and E, respectively) to reflect the fact that existing Subpart A would be broken into four new Subparts (Subparts A, B, C and F). Existing Subpart D, regarding safety and soundness standards, would be incorporated into proposed Subpart A. The proposal would not amend in any way Appendices A through E to Part 208.