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Federal Reserve Act
2007 Letters
December 21, 2007 (166 KB PDF)
Letter to Andres L. Navarette, Esq., Capital One Financial Corporation, McLean, Virginia, granting an exemption from section 23A of the Federal Reserve Act and Regulation W (12 U.S.C. 371c and 12 C.F.R. Part 223) in order that its wholly owned subsidiary, Capital One, National Association, also in McLean, may acquire all the shares of an affiliate, Capital One Auto Finance, Inc., Plano, Texas.

October 23, 2007 (106 KB PDF)
Letter to Carl Howard, Esq., Citigroup Inc., New York, New York, granting a modification to an exemption from section 23A of the Federal Reserve Act (12 U.S.C. 371c) and Regulation W (12 CFR Part 223) that the Board granted on August 20, 2007; this modification will permit Citibank, N.A., to engage in certain securities financing transactions with its European securities affiliate, Citigroup Global Markets Ltd., London, United Kingdom.

October 12, 2007 (279 KB PDF)
Letter to Jay Levine, The Royal Bank of Scotland plc, Edinburgh, Scotland, granting an exemption from section 23A of the Federal Reserve Act (12 U.S.C. 371c) and Regulation W (12 CFR Part 223) for certain securities financing transactions between the New York, New York, and Greenwich, Connecticut, branches of The Royal Bank of Scotland plc and their U.S. securities affiliate, Greenwich Capital Markets, Inc.

October 11, 2007 (256 KB PDF)
Letter to Alan B. Kaplan, Esq., Barclays Bank PLC, London, United Kingdom, granting an exemption from section 23A of the Federal Reserve Act (12 U.S.C. 371c) and Regulation W (12 CFR Part 223) for certain securities financing transactions between the New York branch of Barclays Bank PLC and its U.S. securities affiliate, Barclays Capital Inc.

September 12, 2007 (98 KB PDF)
Letter to Michael L. Kadish, Esq., Deutsche Bank AG, Frankfurt, Germany, granting an exemption from section 23A of the Federal Reserve Act (12 U.S.C. 371c) and Regulation W (12 CFR Part 223) for certain securities financing transactions between Deutsche Bank AGs New York branch and its U.S. securities affiliate, Deutsche Bank Securities Inc.

August 20, 2007 (3.4 MB PDF)
Letter to Kathleen A. Juhase, Esq., JPMorgan Chase & Co., New York, New York, granting an exemption from section 23A of the Federal Reserve Act (12 U.S.C. 371c) and Regulation W (12 CFR Part 223) for certain securities financing transactions between JPMorgan Chase, N.A., and its affiliate, J.P.Morgan Securities Inc. LLC.

August 20, 2007 (3.4 MB PDF)
Letter to Patrick S. Antrim, Esq., Bank of America Corporation, Charlotte, North Carolina, granting an exemption from section 23A of the Federal Reserve Act (12 U.S.C. 371c) and Regulation W (12 CFR Part 223) for certain securities financing transactions between Bank of America, N.A., and its affiliate, Banc of America Securities LLC.

August 20, 2007 (3.3 MB PDF)
Letter to Carl Howard, Esq., Citigroup Inc., New York, New York, granting an exemption from section 23A of the Federal Reserve Act (12 U.S.C. 371c) and Regulation W (12 CFR Part 223) for certain securities financing transactions between Citibank, N.A., and its affiliate, Citigroup Global Markets Inc.

June 12, 2007 (1 MB PDF)
Letter to Courtney Allison, Wachovia Corporation, Charlotte, North Carolina, granting an exemption from section 23A of the Federal Reserve Act and Regulation W (12 U.S.C. 371c and 12 CFR Part 223) for certain covered transactions between Wachovia, National Association and the U.S. broker dealer subsidiaries of Wachovia Corporation (affiliates of the bank), in connection with the bank's securities borrowing transactions.

May 4, 2007 (230 KB PDF)
Letter to Stephen Johnson, Esq., SunTrust Banks, Inc., Atlanta, Georgia, approving acquisition by SunTrust Bank of equity securities under section 9 of the Federal Reserve Act solely for the purpose of hedging the bank's exposure from equity derivative transactions with third parties.

May 2007 (77 KB PDF)
Summary of previously issued Board staff guidance relating to the requirements for a retail sweep program under the Board's Regulation D (Reserve Requirements of Depository Institutions, 12 CFR Part 204).

January 23, 2007 (491 KB PDF)
Letter to Patrick Antrim, Bank of America Corporation, Charlotte, North Carolina, granting an exemption from section 23A of the Federal Reserve Act and Regulation W (12 U.S.C. 371c and 12 CFR Part 223) for certain covered transactions between Bank of America, N.A., and Banc of America Securities (an affiliate of the bank), in connection with the bank's securities lending program.

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