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Out for Comment

Calendar

Out for Comment

The following is a Federal Reserve System proposal currently out for comment:

On May 17, the Federal Reserve Board of Governors requested public comment on a proposal to reform the discount window programs, which provide credit to help depository institutions meet their temporary liquidity needs. The new discount lending framework would be implemented through amendments to Regulation A, "Extension of Credit by Federal Reserve Banks." Adoption of the proposal would not entail a change in the stance of monetary policy.

Also, although the proposed changes retain the seasonal credit program, the Board is requesting comment on whether a seasonal credit program remains necessary and, if so, whether the interest rate should be set at the primary discount rate. More information can be found at www.federalreserve.gov/boarddocs/press/bcreg/2002/.

Direct all comments to: Jennifer Johnson, Secretary, Board of Governors of the Federal Reserve System, 20th St. and Constitution Ave., N.W., Washington, D.C. 20551.