Securities Credit Transactions:
Review of Regulation T
OGC-96-15: Published: May 23, 1996. Publicly Released: May 23, 1996.
Pursuant to a legislative requirement, GAO reviewed the Federal Reserve System Board of Governors' new rule on securities credit transactions. GAO found that the: (1) rule would ease or eliminate some credit restrictions on broker-dealers, eliminate the Board's rules on options exchanges, and reduce restrictions on transactions involving foreign persons, securities, and currency; and (2) Board complied with applicable requirements in promulgating the rule.