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| Circular |
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Derivative Contracts Hedging Trust Preferred Stock
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April 2, 2002
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| Circular No. 11432 | |
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To All State Member Banks and Bank Holding Companies in the Second Federal Reserve District: In a Supervisory Letter, the Federal Reserve Board states the conditions under which trust preferred stock issues that are covered by an interest rate derivative contract are includable in Tier 1 capital. Questions on the matter may be directed, at this Bank, to Dianne Dobbeck, Staff Director, Policy and Analysis.
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