On September 8, 2003, the Board of Governors of the Federal Reserve System announced the addition of an online guide for U.S. and foreign banking organizations submitting applications to the Federal Reserve to its public website.
The new website contains general information about the regulatory requirements and processing procedures for the applications, notifications, and/or requests that companies and individuals must file in connection with a broad range of activities. In addition to general information, the website also provides links to forms to be filed in connection with a regulatory application, recommended language and publication instructions for newspaper notices, and contacts in the regulatory applications units at each Reserve Bank.
The publication of this information does not change the process that the Federal Reserve System follows to review and assess the merits of a regulatory application. Rather, the website is intended to provide general guidance related to regulatory applications administrative procedures, and information on the site is not to be construed as absolute standards for approval of a filing. Furthermore, this information is not to be construed as legal advice.
The views expressed in this article are those of the author and are not necessarily those of this Reserve Bank or the Federal Reserve System.