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The following statement was issued by the Federal Reserve Friday:
The Federal Reserve Board announced on Friday that a live webcast of its December 16 open meeting will be available on the Boards website. At the meeting, which is scheduled to begin at 2:30 p.m. EST, the Board will discuss proposed rules governing debit card interchange fees and routing. This will be the first time the Board has webcast one of its meetings. The Board has previously webcast other public events such as Chairman Bernankes town hall meeting with educators and a
conference on addressing issues facing small businesses.
** Market News International Washington Bureau: 202-371-2121 **
As reported in Friday’s “Washington Report,” The debit rulemaking was authorized as part of the Wall Street Reform and Consumer Financial Protection Act, which requires that the Federal Reserve write standards to ensure that debit card swipe fees charged by the megabanks — those in excess of $10 billion in assets — be “reasonable and proportional” to the actual cost to process a transaction.
The Federal Reserve Board announced on Friday that a live webcast of its December 16 open meeting will be available on the Boards website. At the meeting, which is scheduled to begin at 2:30 p.m. EST, the Board will discuss proposed rules governing debit card interchange fees and routing. This will be the first time the Board has webcast one of its meetings. The Board has previously webcast other public events such as Chairman Bernankes town hall meeting with educators and a
conference on addressing issues facing small businesses.
** Market News International Washington Bureau: 202-371-2121 **
As reported in Friday’s “Washington Report,” The debit rulemaking was authorized as part of the Wall Street Reform and Consumer Financial Protection Act, which requires that the Federal Reserve write standards to ensure that debit card swipe fees charged by the megabanks — those in excess of $10 billion in assets — be “reasonable and proportional” to the actual cost to process a transaction.
| Government in the Sunshine Meeting Notice |  |
For more information please contact: Michelle Smith, Director, or Dave Skidmore, Assistant to the Board, Office of Board Members at 202-452-2955. Supplementary Information: You may call 202-452-3206 for a recorded announcement of this meeting; or you may contact the Board's web page at http://www.federalreserve.gov for anelectronic anouncement. (The web page also includes procedural and other information about the open meeting.) Dated: December 9, 2010 (signed) Robert deV. Frierson Robert deV. Frierson, Deputy Secretary of the Board. | ||||||||||||||
