New Federal Reserve Rules

The Federal Reserve Board just issued two new rules. The first temporarily exempts bank holding companies from leverage and risk-based capital rules.

"The first interim final rule would provide a temporary limited exception from the Board's leverage and risk-based capital rules for bank holding companies and state member banks."

The second rule allows bank holding companies to do transactions they weren't allowed to do on Friday.

"The second would provide a temporary limited exception from sections 23A and 23B of the Federal Reserve Act, which establish certain restrictions on and requirements for transactions between a bank and its affiliates."