Supplemental Standards of Ethical Conduct for Employees of the Board of Governors of the Federal Reserve System

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The Board of Governors of the Federal Reserve System, with the concurrence of the Office of Government Ethics (OGE), is issuing a final rule establishing uniform standards of ethical conduct for employees of the Board to supplement the Standards of Ethical Conduct for Employees of the Executive Branch issued by OGE. The regulation is a necessary supplement to the Executive Branch-wide Standards because it addresses ethical issues unique to the Board, establishing rules relating to: financial interests and transactions; borrowing and extensions of credit; employment relationships of immediate family members; and outside employment. The Board is also replacing its old employee conduct regulation with a residual cross-reference to the new provisions.