Regulatory Alerts2025-12-22 | 2025-23548Added · Updated
Policy Statement on Section 9(13) of the Federal Reserve Act
The Board of Governors of the Federal Reserve System rescinded its 2023 policy statement and issued a new 2025 policy statement interpreting Section 9(13) of the Federal Reserve Act. The new guidance replaces previous restrictions with a framework designed to facilitate innovation by state member banks while ensuring safety, soundness, and financial stability. It establishes that the Board generally presumes limiting insured state member banks to activities permissible for national banks, unless authorized otherwise, and provides specific criteria for evaluating uninsured banks seeking to engage in novel activities.
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