On September 23, 2016, the Federal Reserve Board issued a notice of proposed rulemaking to tighten capital and other regulatory requirements on financial holding companies (FHCs) that participate in physical commodity trading activities, to remove copper from the list of metals that bank holding companies are permitted to own and store as an activity closely related to banking, and to rescind previous orders authorizing certain FHCs to engage in energy management services and tolling activities.

View full memo, Federal Reserve Board Proposes Stricter Requirements on Firms Engaging in Physical Commodity Activities