Community Investments

Volume 11; No. 2; September 2000

Gramm-Leach-Bliley Act of 1999 Web Addresses

President Clinton signed the Gramm-Leach-Bliley Act (GLBA) into law on November 12, 1999. This landmark Act permits broad affiliations among banks, securities firms, insurance companies and other financial businesses under a holding company. In addition to the financial modernization components, GLBA also has significant provisions dealing with privacy, merchant banking and the Community Reinvestment Act. The following is a list of Internet addresses (current as of June 16, 2000) where you can view and print the Act and its implementing regulations (many of which are still in draft form as of this printing). The on-line brochure, "A New Frontier in Financial Services", highlights the major provisions of the Gramm-Leach-Bliley Act.

GLB Act or Implementing Regulation Gramm-Leach-Bliley Act of 1999 (11/12/99)	www.senate.gov/~banking/conf/index.htm
Interim rule on procedures for bank holding compa-nies and foreign banks with US offices to be treated as financial holding companies. (1/19/00)	www.federalreserve.gov/boarddocs/press/boardacts/ 2000/20000119/default.htm
Interim rule that applies to certain Section 20 operat-ing standards to the securities affiliates of financial holding companies. (3/10/00)	www.federalreserve.gov/boarddocs/press/boardacts/ 2000/200003103/default.htm
Interim rule permitting the state member banks that qualify under the GLB to establish financial subsidiaries. (3/10/00)	www.federalreserve.gov/boarddocs/press/boardacts/2000/ 200003102/default.htm
Interim rule listing financial activities permissible for financial holding companies. (3/10/00)	www.federalreserve.gov/boarddocs/press/boardacts/ 2000/20000310/default.htm
Interim rule establishing alternative criteria for debt ratings large banks may have to satisfy in order to establish a financial subsidiary. (3/14/00)	www.federalreserve.gov/boarddocs/press/boardacts/ 2000/20000314/default.htm
Amendments to an interim rule regarding procedures for bank holding companies and foreign banks to be treated as financial holding companies. (3/15/00)	www.federalreserve.gov/boarddocs/press/boardacts/2000/ 20000315/defaul.htm
Interim rule governing merchant banking activities of financial holding companies. (3/17/00)	www.federalreserve.gov/boarddocs/press/boardacts/2000/ 20000317/default.htm
Final regulations for privacy of consumer financial infor-mation (5/10/00)	www.federalreserve.gov/boarddocs/press/boardacts/2000/ 20000510/default.htm
Proposed rule for public disclosure and annual re-porting requirements æ ÀCRA Sunshine." (5/10/00)	www.federalreserve.gov/boarddocs/press/boardacts/2000/ 200005102/default.htm

Community Investments September 2000