To All Depository Institutions and Others Concerned in the Second Federal Reserve District:
In a press release, the Federal Reserve Board announced its approval of a final rule that expands the ability of all bank holding companies, including financial holding companies, to process, store and transmit nonfinancial data in connection with their financial data processing, storage and transmission activities.
The rule will be effective January 8, 2004.
Ivan J. Hurwitz
Counsel and Assistant Vice President