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

The Board of Governors of the Federal Reserve System is issuing this agenda under the Regulatory Flexibility Act and the Board's Statement of Policy Regarding Expanded Rulemaking Procedures. The Board anticipates having under consideration regulatory matters as indicated below during the period May 1, 2005, through October 31, 2005.

Comments about the form or content of the agenda may be submitted any time during the next six months.

The Board's agenda is divided into three sections. The first, Proposed Rule Stage, reports on matters the Board may consider for public comment during the next six months. The second section, Final Rule Stage, reports on matters that have been proposed and are under Board consideration. A third section, Long-Term Actions,
reports on matters that have been proposed and are under Board consideration, but will not be completed within the next year. And a fourth section, Completed Actions, reports on regulatory matters the Board has completed or is not expected to consider further. Matters begun and completed between issues of the agenda have not been included.

Comments may be submitted to:

Jennifer J. Johnson,
Secretary of the Board
Board of Governors of the Federal Reserve System
jennifer.j.johnson@frb.gov

Contact:
Public Affairs
(212) 720-6130
general.info@ny.frb.org