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On November 30, the Federal Reserve Board approved a final rule specifying its procedures for emergency lending under Section 13(3) of the Federal Reserve Act.
On November 30, the Federal Reserve Board approved a final rule
specifying its procedures for emergency lending under Section 13(3)
of the Federal Reserve Act. The final rule provides greater clarity
regarding, among other things, the Board's authority to engage
in emergency lending to programs and facilities with
"broad-based eligibility." The final rule will take
effect January 1, 2016. Press Release. Final Rule.
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