Circular
Relationships with Dealers in Securities Under Section 32 of the Glass-Steagall Act
November 21, 1996
Circular No. 10894

Rescission of Regulation R and Related Interpretation

To All Depository Institutions, and Others Concerned, in the Second Federal Reserve District:

The Board of Governors of the Federal Reserve System is rescinding its Regulation R, "Relationships with Dealers in Securities under Section 32 of the Glass-Steagall Act," together with a related interpretation, as being no longer necessary. The rescission is effective December 6, 1996.

The text of the Board's official notice, as published in the Federal Register of November 6. Questions on this matter should be directed to the Board, as specified in the notice.