X

FRB Issues Final Regulation HH Rule on Financial Market Utilities

The Board of Governors of the Federal Reserve System ("FRB") issued a final rule amending Part 234 or Regulation HH ("Designated Financial Market Utilities") of the FRB's regulations. The final rule sets out the conditions and requirements for a Federal Reserve Bank to open and maintain accounts for, and provide financial services to, financial market utilities ("FMUs") designated as systemically important by the Financial Stability Oversight Council ("FSOC"). Additionally, the rule authorizes a Federal Reserve Bank to pay interest on the balances maintained by a designated FMU.

The rule, originally proposed in March 2013, implements Dodd-Frank Section 806 ("Operations of Designated Financial Market Utilities").

See: Text of the Final Amendment; FRB Press Release.Related news: Federal Reserve Board Notice of Proposed Rulemaking on Financial Market Utilities (Regulation HH) (Fed. Reg. Version) (March 4, 2013).

Tags

Regulated Activities
Central Clearing Trading
Sub-Activity
Regulation ATS
Regulated Entities
Markets
Sub-Entity
Exchanges / Contract Markets, SEFs / SBSEFs, Clearing Organizations, SDRs/SBSDRs
Body of Law
Banking Law CEA Regulation
Jurisdiction
US - Federal
Organization
US Banking Regulators
Sub-Author
Federal Reserve Board