Circular
Regulation Y
January 4, 2001
Circular No. 11305

Proposals on Real Estate Brokerage and Management Activities of Financial Holding Companies and Financial Subsidiaries of National Banks

To Financial Holding Companies and Financial Subsidiaries of National Banks:

On December 27, 2000 the Board of Governors of the Federal Reserve System issued a press release requesting comments on whether real estate brokerage and real estate management activities should be permissible for financial holding companies. Jointly, the U.S. Department of the Treasury is proposing to add real estate brokerage and real estate management to the activities permissible for financial subsidiaries of national banks.

The joint proposals (pdf - 148kb), as published in the Federal Register of January 3, 2001. Comments should be submitted by March 2, 2001, by mail or electronically as specified in the notice.