Federal Reserve Board Solicits Comments on Implementation of FAST Act Dividend Provisions

The Board of Governors of the Federal Reserve System (the "Board") requested comments on an interim final rule amending Regulation I in 12 C.F.R. 209 governing the issuance and cancellation of capital stock by the Reserve Banks. The interim final rule is necessary to implement Section 32203 of the "Fixing America's Surface Transportation Act," which addresses dividend payments to the shareholders of Reserve Banks.

The interim final rule would become effective on the date of its publication in the Federal Register. Comments on the interim final rule must be submitted by April 29, 2016.