Key Features Of Federal Reserve Board's Proposed Info Rules

Law360 (July 3, 2019, 2:14 PM EDT) -- On June 14, 2019, the Federal Reserve Board invited public comment on proposed amendments to its rules regarding availability of information[1] — the first time in 30 years the agency has meaningfully revisited its framework for the treatment, use and disclosure of confidential supervisory information. The proposed rule also makes technical adjustments to the FRB’s procedures for handling Freedom of Information Act requests.

If adopted, the proposed rule would provide helpful clarity to FRB-supervised institutions on what qualifies as CSI and how CSI may be shared within an organization, with third-party service providers and with other regulatory agencies. Because it would...

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