|For immediate release|
The Federal Reserve Board on Monday approved revisions to Subpart D of Regulation K, governing international banking operations.
The final rule will reduce the regulatory burden on banking institutions engaged in international lending by simplifying the requirements concerning accounting for fees on international loans to make the regulation consistent with generally accepted accounting principles (GAAP).
The final rule will become effective 30 days after publication in the Federal Register, which is expected shortly.
2003 Banking and consumer regulatory policy