Financial Market Utilities — 2013-12-20 [2013-29711]

The Dodd-Frank Wall Street Reform and Consumer Protection Act (the "Dodd-Frank Act" or "Act") permits the Board of Governors of the Federal Reserve System (the "Board") to authorize a Federal Reserve Bank to establish and maintain an account for, and through the account provide certain financial services to, financial market utilities ("FMUs") that are designated as systemically important by the Financial Stability Oversight Council (the "Council"). In addition, the Dodd-Frank Act permits a Reserve Bank to pay interest on the balances maintained by or on behalf of a designated FMU. The Board is promulgating regulations to implement these provisions of the Dodd- Frank Act.