§ 265.11. Functions delegated to the Director of the Division of Reserve Bank Operations and Payment Systems.

236 words·~1 min read·/us/cfr/t12/s§ 265.11·

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The Director of the Division of Reserve Bank Operations and Payment Systems (or the Director's delegatee) is authorized:

(a)Designated financial market utilities.

(1)To issue a notice of no objection to a designated financial market utility relating to an advance notice of proposed material change submitted under section 806(e) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (12 U.S.C. 5465(e)) and section 234.4 of Regulation HH (12 CFR 234.4).

(2)To extend the review period for proposed changes that raise novel or complex issues and to request additional information from the designated financial market utility for consideration of the notice.

(b)Regulation II.

(1)In consultation with the Director of the Division of Supervision and Regulation and the General Counsel, to approve the publication of annual lists of institutions that fall above and below the small issuer exemption asset threshold under Regulation II (12 CFR part 235).

(2)In consultation with the General Counsel, to approve the publication of annual lists of the average interchange fees each network provides to non-exempt and exempt issuers.

(c)Regulation HH. After consulting with interested division directors, to establish the process for receiving notifications described in section 234.3(a)(17)(vi)(A) of the Board's Regulation HH (12 CFR 234.3(a)(17)(vi)(A)) and to provide notice of this process to affected firms. [87 FR 54003, Sept. 1, 2022, as amended at 88 FR 32622, May 22, 2023; 91 FR 10745, Mar. 5, 2026]

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