Circular
Amendment to Regulation S
December 3, 1996
Circular No. 10896

Effective December 20, 1996

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

Our Circular No. 10868, dated August 29, 1996, contained a proposal by the Board of Governors of the Federal Reserve System to amend Subpart B of its Regulation S, "Reimbursement for Providing Financial Records; Recordkeeping Requirements for Certain Financial Records."

The amendment -- which clarifies that Regulation S does not apply to any person or transaction or class of persons or transactions that the Treasury has exempted from a May 28, 1996 joint rule relating to funds transfers and transmittals of funds under the Bank Secrecy Act -- has been adopted by the Board, effective December 20, 1996.

The text of the amendment, as published in the Federal Register, is available.

Additional copies may be obtained from our Public Information Department.