The Albany Plan of Union was not a plan for independence; in fact, it still subjected the colonial governments to British control. However, many British and Americans still considered the plan too extreme, so it was ultimately never implemented.
DEFINITION of 'Regulation U' Regulation U is a Federal Reserve Board regulation that governs loans by entities involving securities as collateral and the purchase of securities on margin. Regulation U limits the amount of leverage that can be extended for loans secured by securities for the purpose of buying more securities.
AUTHORITY: 15 U.S.C. 78c, 78g, 78q, and 78w. SOURCE: Regulation T, Â§Â§220.1 through 220.18 appear at 48 FR 23165, May 24, 1983, un-less otherwise noted. EDITORIAL NOTE: A copy of each form re-ferred to in this part is filed as a part of the original document. Copies are available upon request to the Board of Governors of the Federal Reserve System or any Federal Re-serve Bank. Â§220.1 Authority, purpose, and scope. (a) Authority and purpose. Regulation T (this part) is issued by the Board of Governors of the Federal Reserve Sys-tem (the Board) pursuant to the Secu-rities Exchange Act of 1934 (the Act) (15 U.S.C.78a et seq.). Its principal purpose is to regulate extensions of credit by brokers and dealers; it also covers re-lated transactions within the Boardâs authority under the Act.