TO:	CHIEF EXECUTIVE OFFICER
SUBJECT:	Final Rule on Recordkeeping and Confirmation Requirements for Securities Transactions (Part 344 of the FDIC's Rules and Regulations)

The FDIC Board of Directors has approved final revisions to its rule on securities transaction recordkeeping and confirmations. The most significant change is to delete, pending further study on an interagency basis, the proposed requirement for reporting the personal investment transactions of Directors. In revising the rule, the FDIC considered the comments received in response to its Notice of Proposed Rulemaking (see FIL-1-97: Financial Institution Letters: dated January 13, 1997).

A copy of the Federal Register notice describing the final changes and setting forth the provisions of the final rule is attached. For more information, please contact Miguel D. Browne, Manager, Division of Supervision (DOS), (202) 898-6789; Keith Ligon, Chief, Policy Unit, DOS, (202) 898-3618; John F. Harvey, Review Examiner (Trust), DOS, (202) 898-6762; or Patrick J. McCarty, Counsel, Legal Division, (202) 898-8708.

	Nicholas J. Ketcha Jr.
	Director

Attachment: FR, Vol. 62, No. 43. (March 5, 1997) pp. 9915-9923

Distribution: FDIC-Supervised Banks (Commercial and Savings)

Note: Paper copies of FDIC financial institution letters may be obtained through the FDIC's Public Information Center, 801 17th Street, N.W., Room 100, Washington, D.C. 20434 ((703) 562-2200 or 800-276-6003).