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Federal Reserve Board Issues Wide-Ranging FAQ Guidance on Key Regulations
14 April 2021
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On March 31, 2021, the Federal Reserve Board (the “FRB”) published a series of Frequently Asked Questions (“FAQs”) on each of its Regulations H, K, L, O, W and Y.
The FAQs mostly consist of existing legal interpretations regarding these regulations. However, the FAQs also include FRB interpretations “not previously available in written form.” In particular, the Regulation W FAQs represent the most comprehensive articulation of FRB staff interpretations of the rule since the preamble to its adopting release in 2002.
In this Debevoise In Depth, we summarize key aspects of the new FAQs, focusing on guidance that either appears to modify precedent or was previously unpublished.
Satish M. Kini
Gregory J. Lyons
Alison M. Hashmall
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