The Federal Reserve Board on Monday announced the approval of final amendments to 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 final amendments revise the provisions regarding the establishment of the primary credit rate at the discount window in a financial emergency, and delete obsolete provisions relating to the use of credit ratings for collateral for extensions of credit under the former TALF program.
The final amendments are effective 30 days after the date of publication in the Federal Register, which is expected shortly.
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