U.S. Department of the Treasury

(Archived Content)

FROM THE OFFICE OF PUBLIC AFFAIRS

The Treasury Department yesterday approved a rule proposal seeking public comment on whether to determine that real estate brokerage and real estate management activities are financial in nature or incidental to a financial activity and therefore permissible for financial subsidiaries of national banks.

Comments are due by March 2, 2001.

The proposed rule will be published jointly with the Federal Reserve Board. The Board has approved issuance of the proposed rule for financial holding companies. Publication in the Federal Register is expected soon.