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Final Rule: Emergency lending under Section 13(3) of the Federal Reserve Act

The Federal Reserve Board on Monday approved a final rule specifying its procedures for emergency lending under Section 13(3) of the Federal Reserve Act.  Since the passage of the Dodd-Frank Act in 2010, the Board's authority to engage in emergency lending has been limited to programs and facilities with “broad-based eligibility” that have been established with the approval of the Secretary of the Treasury.  The Dodd-Frank Act also prohibits lending to entities that are insolvent and imposes certain other limitations.  The rule provides greater clarity regarding the Board's implementation of these and other statutory requirements.The rule is effective January 1, 2016. Click here for more information.

  • January 1, 2016
  • Time: All Day
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