[Federal Register Volume 79, Number 43 (Wednesday, March 5, 2014)]
[Proposed Rules]
[Page 12414]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-04742]


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Proposed Rules
                                                Federal Register
________________________________________________________________________

This section of the FEDERAL REGISTER contains notices to the public of 
the proposed issuance of rules and regulations. The purpose of these 
notices is to give interested persons an opportunity to participate in 
the rule making prior to the adoption of the final rules.

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Federal Register / Vol. 79, No. 43 / Wednesday, March 5, 2014 / 
Proposed Rules

[[Page 12414]]



FEDERAL RESERVE SYSTEM

12 CFR Chapter II

[Docket No. R-1479 RIN 7100-AE-10]


Complementary Activities, Merchant Banking Activities, and Other 
Activities of Financial Holding Companies Related to Physical 
Commodities

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Advance notice of proposed rulemaking; extension of comment 
period.

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SUMMARY: On January 21, 2014, the Board of Governors of the Federal 
Reserve System (Board) published in the Federal Register an advance 
notice of proposed rulemaking inviting public comment on various issues 
related to physical commodity activities conducted by financial holding 
companies and the restrictions imposed on these activities to ensure 
they are conducted in a safe and sound manner and consistent with 
applicable law.
    Due to the range and complexity of the issues addressed in the 
advance notice of proposed rulemaking, the Board has determined that an 
extension of the public comment period until April 16, 2014, is 
appropriate. This action will allow interested persons additional time 
to analyze the notice and prepare their comments.

DATES: Comments on the proposed rule must be received on or before 
April 16, 2014.

ADDRESSES: You may submit comments by any of the methods identified in 
the advance notice of proposed rulemaking.\1\ Please submit your 
comments using only one method.
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    \1\ See Complementary Activities, Merchant Banking Activities, 
and Other Activities of Financial Holding Companies related to 
Physical Commodities, 79 FR 3329 (Jan. 21, 2014).

FOR FURTHER INFORMATION CONTACT: Laurie Schaffer, Associate General 
Counsel, (202) 452-2272, Michael Waldron, Special Counsel, (202) 452-
2798; Benjamin McDonough, Senior Counsel, (202) 452-2036, April Snyder, 
Senior Counsel, (202) 452-3099, or Will Giles, Counsel, (202) 452-3351, 
Legal Division; or Mark Van Der Weide, Deputy Director, (202) 452-2263, 
Timothy Clark, Senior Associate Director, (202) 452-5264, Todd 
Vermilyea, Senior Associate Director, (202) 912-4310, or Robert Brooks, 
Senior Supervisory Financial Analyst, (202) 452-3103, Division of 
Banking Supervision and Regulation. Board of Governors of the Federal 
Reserve System, 20th and C Streets, NW., Washington, DC 20551. 
Telecommunications Device for the Deaf (TDD) users may contact (202-
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263-4869).

SUPPLEMENTARY INFORMATION: On January 21, 2014, the Board published in 
the Federal Register (79 FR 3329) an advance notice of proposed 
rulemaking (ANPR) inviting public comment on various issues related to 
physical commodity activities conducted by financial holding companies 
(FHCs) and the restrictions imposed on these activities to ensure they 
are conducted in a safe and sound manner and consistent with applicable 
law. The ANPR is designed to elicit views from the public on the risks 
and benefits of allowing FHCs to conduct physical commodity activities 
under the various provisions of the Bank Holding Company Act, whether 
risks to the safety and soundness of a FHC and its affiliated insured 
depository institutions and to the financial system warrant Board 
action to impose limitations on the scope of authorized activities and/
or the manner in which those activities are conducted, and if so, what 
those limits should be. Once the Board has completed its review of this 
information, it will consider what further actions, including a 
rulemaking, are warranted.
    In recognition of the complexities of the issues addressed and the 
variety of considerations involved with possible further actions, the 
Board requested that commenters respond to numerous questions. The ANPR 
stated that the public comment period would close on March 17, 2014.\2\
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    \2\ Id.
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    The Board has received a request from the public for an extension 
of the comment period to allow for additional time for comments related 
to the provisions of the proposed rule.\3\ The Board believes that the 
additional period for comment will facilitate public comment on the 
questions posed by the Board in the ANPR. Therefore, the Board is 
extending the end of the comment period for the ANPR from March 17, 
2014, to April 16, 2014.
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    \3\ See Comment letter to the Board from the American Bankers 
Association et al. (Feb. 7, 2014).

    By order of the Board of Governors of the Federal Reserve 
System, acting through the Secretary of the Board under delegated 
authority, February 27, 2014.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2014-04742 Filed 3-3-14; 8:45 am]
BILLING CODE 6210-01-P