[Federal Register Volume 66, Number 39 (Tuesday, February 27, 2001)]
[Proposed Rules]
[Page 12440]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-4713]


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FEDERAL RESERVE SYSTEM

12 CFR Part 225

[Regulation Y; Docket No. R-1091]


Bank Holding Companies and Change in Bank Control

DEPARTMENT OF THE TREASURY

Office of the Under Secretary for Domestic Finance

12 CFR Part 1501

RIN 1505-AA84

Financial Subsidiaries

AGENCIES: Board of Governors of the Federal Reserve System and 
Department of the Treasury.

ACTION: Joint proposed rule; extension of comment period.

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SUMMARY: On January 3, 2001, the Board of Governors of the Federal 
Reserve System and the Department of the Treasury (collectively, the 
``Agencies'') published for public comment a joint proposal that would 
permit financial holding companies and financial subsidiaries of 
national banks to engage in real estate brokerage and real estate 
management. The Agencies are extending the comment period on the 
proposal.

DATES: Comments must be received by May 1, 2001.

ADDRESSES: Comments should refer to docket number R-1091 and should be 
mailed to Ms. Jennifer J. Johnson, Secretary, Board of Governors of the 
Federal Reserve System, 20th Street and Constitution Avenue, NW., 
Washington, DC 20551 (or mailed electronically to 
<a href="/cdn-cgi/l/email-protection#9be9fefce8b5f8f4f6f6fef5efe8dbfdfefffee9faf7e9fee8fee9edfeb5fcf4ed"><span class="__cf_email__" data-cfemail="75071012065b161a1818101b01063513101110071419071006100703105b121a03">[email protected]</span></a>) and to Real Estate Brokerage and 
Management Regulation, Office of Financial Institution Policy, U.S. 
Department of the Treasury, 1500 Pennsylvania Avenue, NW., Room SC 37, 
Washington, DC 20220 (or mailed electronically to 
<a href="/cdn-cgi/l/email-protection#a8cec1c6c9c6cbc1c9c486c1c6dbdcc1dcdddcc1c7c6dbe8ccc786dcdacdc9db86cfc7de"><span class="__cf_email__" data-cfemail="b0d6d9ded1ded3d9d1dc9ed9dec3c4d9c4c5c4d9dfdec3f0d4df9ec4c2d5d1c39ed7dfc6">[email protected]</span></a>). Comments addressed to Ms. Johnson 
also may be delivered to the Board's mailroom between 8:45 a.m. and 
5:15 p.m. and, outside those hours, to the Board's security control 
room. Both the mailroom and the security control room are accessible 
from the Eccles Building courtyard entrance, located on 20th Street 
between Constitution Avenue and C Street, NW. Members of the public may 
inspect comments in room MP-500 of the Martin Building between 9 a.m. 
and 5 p.m. on weekdays. Comments addressed to the Treasury Department 
may also be delivered to the Treasury Department mail room between the 
hours of 8:45 a.m. and 5:15 p.m. at the 15th Street entrance to the 
Treasury Building.

FOR FURTHER INFORMATION CONTACT:
    Board of Governors: Scott G. Alvarez, Associate General Counsel 
(202/452-3583), or Mark E. Van Der Weide, Counsel (202/452-2263), Legal 
Division, Board of Governors of the Federal Reserve System, 20th Street 
and Constitution Avenue, NW., Washington, D.C. 20551.
    Department of the Treasury: Gerry Hughes, Senior Financial Analyst 
(202/622-2740); Roberta K. McInerney, Assistant General Counsel 
(Banking and Finance) (202/622-0480); or Gary W. Sutton, Senior Banking 
Counsel (202/622-0480).

SUPPLEMENTARY INFORMATION: On January 3, 2001, the Agencies published a 
joint proposal to seek comment on whether to permit financial holding 
companies and financial subsidiaries of national banks to engage in 
real estate brokerage and real estate management (66 FR 307). The 
proposal stated that any comments on the proposal must be received by 
the Agencies by March 2, 2001.
    In response to the solicitation of comments, the Agencies have 
received a substantial number of comments, including requests to extend 
the comment period. Given the wide public interest in the proposal and 
the desire of the Agencies to give the public sufficient time to 
consider the proposal, the Agencies have decided to extend the comment 
period on the proposal through May 1, 2001.

    By order of the Board of Governors, February 21, 2001.
Jennifer J. Johnson,
Secretary of the Board.
    Dated: February 20, 2001.
Donald V. Hammond,
Acting Under Secretary for Domestic Finance, Department of the 
Treasury.
[FR Doc. 01-4713 Filed 2-26-01; 8:45 am]
BILLING CODE 6210-01-P


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