Federal Reserve Issues Policy Statement on Section 9(13) of the Federal Reserve Act - On January 27, the Federal Reserve issued a policy statement interpreting section 9(13) of the Federal Reserve Act, which authorizes...more
The case is particularly noteworthy in that it marks the first time of which we are aware that a judicial decision (even an interlocutory one) has expressly raised the issue of whether the sponsors’ debt characterization of...more