Joint Request for Comment on Proposal to Permit Financial Holding Companies and Financial Subsidiaries

Federal Reserve Bankll★Kof DallasDALLAS, TEXAS 75265-5906January 24, 2001Notice 01-09TO: The Chief Executive Officer of eachfinancial institution and others concernedin the Eleventh Federal Reserve DistrictSUBJECTJoint Request for Comment on Proposal toPermit Financial Holding Companies and Financial Subsidiaries toAct as Real Estate Brokers and ManagersDETAILSThe Board of Governors of the Federal Reserve System and the Secretary of the Treasuryhave requested public comment on whether to determine by rule that real estate brokerage and realestate management are financial in nature or incidental to a financial activity and, therefore, permis-sible for financial holding companies and financial subsidiaries of national banks. The proposed rulewould amend subpart I of the Board’s Regulation Y and would amend the Secretary’s financialsubsidiary regulations.The Board must receive comments by March 2, 2001. Please address comments toJennifer J. Johnson, Secretary, Board of Governors of the Federal Reserve System, 20th Street andConstitution Avenue, N.W., Washington, DC 20551. Also, you may mail comments electronically toregs.comments@federalreserve.gov. All comments should refer to Docket No. R-1091.ATTACHMENTA copy of the Board’s notice as it appears on pages 307–14, Vol. 66, No. 2 of the FederalRegister dated January 3, 2001, is attached.MORE INFORMATIONFor more information, please contact Rob Jolley, Banking Supervision Department, (214) ...