The Board of Governors of the Federal Reserve System is asking for public feedback on a proposal to extend the Notice of Proposed Stock Redemption for three years without making any changes. This notice is important for bank holding companies that need to get approval before buying back their shares. The Board is interested in comments about the necessity, accuracy, and effectiveness of this information collection and ways to reduce the burden on those required to respond. Comments are due by May 27, 2025.
Simple Explanation
The Federal Reserve wants people to tell them if it's okay to keep asking banks to check before buying back their own shares, and they promise to use smart computer tricks to make it easy, but not everyone is clear about how all the details work.