Federal Reserve Release, Press Release; image with eagle logo links to home page
Release Date: March 23, 1999

For immediate release

The Federal Reserve Board today announced withdrawal of its proposed "Know Your Customer" regulation that was issued for public comment on December 7, 1998.

The Board, acting along with the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency and the Office of Thrift Supervision, withdrew the proposal in response to comments received.

An interagency joint statement is attached.

Joint statement

1999 Banking and consumer regulatory policy

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Last update: March 23, 1999, 2:15 PM