Summary

This is our report on a major rule promulgated by the Federal Reserve System (Board). The rule was received by the Senate on December 2. It was published in the Federal Register as a final rule on December 12. Enclosed is our assessment of the Board's compliance with the procedural steps required by section 801(a)(1)(B)(i) through (iv) of title 5 with respect to the rule. If you have any questions about this report. The official responsible for GAO evaluation work relating to the subject matter of the rule is Thomas McCool. R-1103) (i) Cost-benefit analysis The Board was not required to perform a cost-benefit analysis in connection with the issuance of the final rule. (ii) Agency actions relevant to the Regulatory Flexibility Act.