The Federal Reserve Board on Monday requested public comment on a proposal to amend its Regulation A, which governs extensions of credit by Federal Reserve Banks, to make certain technical adjustments including to reflect the expiration of the Term Asset Backed Securities Loan Facility (TALF) program.
The proposed amendments would revise the provisions regarding the establishment of the primary credit rate at the discount window in a financial emergency, and would delete obsolete provisions relating to the use of credit ratings for collateral for extensions of credit under the former TALF program.
Comments on the proposal are requested within 30 days of publication in the Federal Register, which is expected shortly.
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