Rule published on May 11 by Federal Reserve System

The US Federal Reserve System published a four page rule on May 11, according to the U.S. Government Publishing Office.

The rule is focused on Applicability of Section 23A of the Federal Reserve Act to Loans and Extensions of Credit Made by a Member Bank to a Third Party.

The Federal Reserve is the US's central bank, expanding many times during great financial uncertainty and panic. It has faced numerous criticisms since its creation in 1913, such as making the Great Depression worse and for lacking transparency and audits.

Notices are required documents detailing rules and regulations being proposed by each federal department. This allows the public to see what issues legislators and federal departments are focusing on.

Any person or organization can comment on the proposed rules. Departments and agencies must then address “significant issues raised in comments and discuss any changes made,” the Federal Register says.

Notices published by the Federal Reserve System on May 11

Title
Application of Sections 23A and 23B of the Federal Reserve Act to Derivative Transactions With Affiliates and Intraday Extensions of Credit to Affiliates
Applicability of Section 23A of the Federal Reserve Act to Loans and Extensions of Credit Made by a Member Bank to a Third Party
Applicability of Section 23A of the Federal Reserve Act to the Purchase of Securities From Certain Affiliates
Transactions Between Banks and Their Affiliates
Formations of, Acquisitions by, and Mergers of Bank Holding Companies
Formations of, Acquisitions by, and Mergers of Bank Holding Companies
Notice of Proposals to Engage in Permissible Nonbanking Activities or to Acquire Companies that are Engaged in Permissible Nonbanking Activities